Scandinavian Capital Markets Demo Account

 

A Scandinavian Capital Markets demo account Review

 

How to set up a Scandinavian Capital Markets Demo Account – Step by Step

 

To register for, and set up a demo account with Scandinavian Capital Markets, traders can follow these steps:

 

  1. Navigate to the Scandinavian Capital Markets website and click the ‘Open Demo Account’ banner on the homepage.
  2. The trader will be redirected to a new page consisting of an online application where required field such as First and Last name, email, phone country code and phone number have to be entered.
  3. In addition, the trader will have to indicate how they heard about Scandinavian Capital Markets along with providing the trader’s country of residence, and lastly, selecting the preferred trading platform and clicking on the ‘Captcha’.
  4. After having completed the form, the trader can click on ‘Request Demo Account’.
  5. The trader will receive an email on the address they provided, confirming that the demo account has been created and informing the trader that a relationship manager will be in contact with them for further instructions.
  6. The trader will receive an email containing their demo account credentials shortly after along with the link to download their trading platform of choice imbedded in the email.
  7. If the trader chose cTrader or MetaTrader 4, it will be necessary to download and install the software first to log into the trading platform with the provided credentials, while Currenex can be accessed from a Web Browser.

 

Trading can be a very intimidating task for beginners without prior knowledge, skill, or experience in trading and through the provision of demo accounts, brokers provide a comprehensive and risk free environment for beginner traders.

A demo account is often referred to as a practice account due to it providing traders with the ability and freedom to explore the broker’s offering without running the risk of incurring losses through the provision of virtual money with which to practice trading.

 

Scandinavian Capital Markets Demo Account Features

 

The Scandinavian Capital Markets demo account features will depend on the trading platform that the trader uses, in this case MetaTrader 4, cTrader, or Currenex, in conjunction with the demo account.

In other words, the demo account features can be accessed through the trading platform and will depend on Scandinavian Capital Markets’ offering with regards to asset classes, financial instruments, spreads, leverage, and so on.

 

Pros and Cons

 

PROS CONS
1.      Demo account sign up fully digital 1.      None noted
2.      Sign up is quick and hassle-free
3.      Metatrader 4, cTrader and Currenex are reliable, user-friendly trading platforms

 

FAQ

 

What is the difference between a demo and live trading account?

A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.

Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.

 

Does Scandinavian Capital Markets offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with Scandinavian Capital Markets?

Yes.

 

Which live trading accounts does Scandinavian Capital Markets?

  • Standard Account – minimum deposit of $10,000, leverage of 1:100, zero commissions per lot and spreads that start from 1.7 pips.
  • Premium Account – minimum deposit of $25,000, leverage of 1:100, spreads rom 0.0 pips, $10 commissions per lot round turn when using Metatrader 4, and $50 per million when using cTrader.
  • Custom Account – minimum deposit of $250,000, leverage of 1:100 along with custom spreads and custom commissions.

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR
  • GBP, and
  • SEK

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