What Account Types and Fees Does Scandinavian Capital Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to a wide range of instruments with competitive spreads |
Minimum deposit of $25, suitable for low-capital trading |
| Professional Account |
Experienced traders and professionals |
Lower spreads and higher leverage options available |
Requires trading volume qualifications, minimum deposit of $10,000 |
| Corporate Account |
Corporate clients seeking trading solutions |
Customized services and tailored solutions for corporate needs |
Requires corporate documentation, minimum deposit varies |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading with no interest fees |
Must comply with Islamic finance principles, minimum deposit of $25 |
| Demo Account |
All traders wanting to practice |
Risk-free environment to test strategies and platforms |
No minimum deposit required, available for all users |
Account Opening Process
To open an account with Scandinavian Capital Markets, you need to follow a straightforward process:
1. Submit personal information, including your name, address, and contact details.
2. Provide employment details and information about your financial situation.
3. Complete identity verification by submitting a valid ID and proof of address.
4. After the initial setup, you may upgrade to a professional account later if you meet the qualifications.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major currency pairs |
| CFDs (Gold) |
2.0 |
$4 |
Standard commission applies, competitive for commodities |
| CFDs (Indices) |
1.5 |
$4 |
Includes major indices like NASDAQ and S&P 500 |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable rates depending on market volatility |
Other Fees
Scandinavian Capital Markets may charge additional fees, including:
– Deposit/withdrawal fees may apply based on the payment method used.
– Inactivity fees are charged for dormant accounts after a certain period.
– Platform usage fees are not applicable for standard accounts.
– Overnight interest or swap rates apply to positions held overnight.
– Currency conversion fees may apply for trading in different currencies.
