Scandinavian Capital Markets Minimum Deposit

 

Scandinavian Capital Markets minimum deposit Review

 

Scandinavian Capital Markets Minimum Deposit

 

The Scandinavian Capital Markets minimum deposit amount that Scandinavian Capital Markets requires is $10 000.

The minimum deposit amount of $10,000 when registering a live account is equivalent to ZAR176,135.80 at the current exchange rate between US Dollar and South African Rand on the day and at the time that this article was written.

Scandinavian Capital Markets is a Sweden-based broker and is authorized and regulated by one of the strictest and most demanding regulating entities namely FSA, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Scandinavian Capital Markets are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

Scandinavian Capital Markets does not charge any fees when deposits are made into the trader’s account. Traders can only make use of Bank Wire Transfer when paying the minimum deposit amount.

 

Scandinavian Capital Markets supports the following deposit currencies in which traders can fund their accounts including:

  • USD
  • EUR
  • GBP, and
  • SEK

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

 

  1. Log into the Client Portal and select ‘Deposit’
  2. Select the deposit method along with the amount.
  3. After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

Traders should take note that with making deposits by using Bank Wire Transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

 

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      None noted
2.      Quick and easy depositing of funds
3.      Low minimum deposit amount
4.      Wide variety of payment methods offered
5.      Wide variety of deposit currencies supported

 

FAQ

 

What is the minimum deposit for Scandinavian Capital Markets?

$10,000.

 

How do I make a deposit and withdrawal with Scandinavian Capital Markets?

You can only use Bank Wire Transfer for deposits and withdrawals.

 

Does Scandinavian Capital Markets charge withdrawal fees?

No.

 

How long does it take to make a withdrawal?

Depending on when the withdrawal request was made, it may take from two to several days to reflect in the trader’s bank account. Requests made over weekends may only be processed on the next business day.

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