Scandinavian Capital Markets does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. The demo account expires after 30 days and account holders can request that Scandinavian Capital Markets assist in changing the Demo Account into a Live Trading Account.
Scandinavian Capital Markets at a glance
| Broker's Name | Scandinavian Capital Markets |
| 🏛️ Headquartered | Stockholm, Sweden |
| 📅 Year Founded | 2011 |
| 💫 Company Registration no. | 556863-5972 |
| ⚖️ Regulating Authorities | SFSAF |
| ⏳ SFSAF | 80438 |
| 🌐 Countries not accepted for trade | United States, Iran, Syria, North Korea, Yemen, and Cuba |
| ☪️ Islamic account (swap-free) | Yes |
| 📎Sign up Bonus | Not offered |
| 👍 Demo Account | Yes |
| 📌 Account types | Vanuatu STP / ECN Sweden ECN |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 100:1 |
| 💰 Minimum Deposit | $ 250 / R 4000 ZAR |
| 💳 Deposit Options | Bank wire |
| 💳 Withdrawal Options | Bank wire |
| 💻 Platform Types | MT4, cTrader, Currenex for Windows |
| 📱 OS Compatibility | Mobile iOS and Android |
| 📈 Tradable assets offered | Forex - 45 Trading Pairs, Metals |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | Not indicated |
| 📆 Customer Service Hours | 24 hours per day |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit USD 250 Regulators SFSAF Trading Platform MT4, cTrader, Currenex Crypto Yes Total Pairs 45 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Scandinavian Capital Markets Review – 5 key points quick overview:
Scandinavian Capital Markets at a glance- Scandinavian Capital Markets Demo Account Features
- How to set up a Scandinavian Capital Markets Demo Account – Step by Step
- Scandinavian Capital Markets Pros and Cons
- Frequently Asked Questions
Scandinavian Capital Markets Demo Account
A demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.
Beginner traders can use a demo account to get acquainted with the live trading environment, where they can actively participate in trades and develop their own strategies.
Demo accounts are not intended for beginners only but provide more advanced traders an opportunity to explore what Scandinavian Capital Markets has to offer.
Scandinavian Capital Markets’ demo account imitates the conditions of a live trading account and gives traders access to the same functions, features, and options they would have on a live trading account, with the exception that the demo account is risk-free since they make use of virtual funds to conduct their trading. Due to this, traders cannot withdraw any profits which are made on the demo account.
The broker advises traders to use a demo account to test its functionality and not necessarily the kind of spreads or commissions.
Scandinavian Capital Markets accounts can be opened in USD, EUR, or GBP.
How to set up a Scandinavian Capital Markets Demo Account – Step by Step
1. Step 1 – Register an account
To register for and set up a demo account with Scandinavian Capital Markets, traders must visit the website and follow the simple steps.
You can open a live account or demo account (also called a practice account) from start to finish on the Scandinavian Capital Markets website and choose to open a demo account first.
2. Step 2 – Select account type for demo
Select an account type you would like to use as a Demo account.
3. Step 3 – Personal information
Provide basic personal information requested and select continue.
4. Step 4 – Account verification and start trading
Brokers usually require an e-mail and password to complete the initial step and if more than one currency can be used, traders must select their preferred account currency.
An account verification process is usually mandatory due to regulatory requirements, so keep a copy of your ID and a proof of residency document ready for the last step.
Note that this ‘Know Your Client (KYC) process, may only be necessary once you decide to move forward and work with real money.
Min Deposit USD 250 Regulators SFSAF Trading Platform MT4, cTrader, Currenex Crypto Yes Total Pairs 45 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Scandinavian Capital Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Competitive spreads | Deposit methods limited to bank wire |
| Demo account can be opened | Maximum leverage of 1:100 |
| Premium account management services | Only 45 pairs on most account types |
| Registered with SFSA | High minimum deposit of 10 000 USD |
| Solid banking partners | Limited deposit methods. |
| Transparent trading conditions | |
| Multiple trading platforms. |
Scandinavian Capital Markets Conclusion
Scandinavian Capital Markets does offer a free demo trading account for beginners to start training on. Practice forex trading in a 100% risk-free environment. The demo account expires after 30 days and account holders can request that Scandinavian Capital Markets assist in changing the Demo Account into a Live Trading Account.
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Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account as is offered by broker companies like Scandinavian Capital Markets is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features, before setting up a real account that needs to be funded with the customers own real money.
Does Scandinavian Capital Markets offer a demo account?
Yes, the broker does offer a demo account for all new traders.
How long is the demo account valid?
This is not clear from the information on the company homepage
Which live trading accounts do Scandinavian Capital Markets offer?
- Standard Account
- Premium Account
- Custom Account
- Islamic Account
Does Scandinavian Capital Markets offer an Islamic Account?
Yes.
What are the available deposit currencies for a live trading account?
USD, EUR, GBP, and SEK.
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