Scandianvian Capital Markets offers up to $1m in capital for wannabe traders

Rick Steves

They, however, must pass an assessment that demonstrates their trading capabilities: traders must generate 10% profit without exceeding a daily 4% loss or a 5% account drawdown.

STOCKHOLM, Nov. 17, 2021 /PRNewswire/ — Have you ever dreamed of being a professional trader or managing an investment fund but feel your location or lack of an ivy league education is holding you back? Financial market democratization is accelerating, and this company is taking it to a whole new level. Asset management firm

Scandinavian Capital Markets has launched a funded trader program for traders looking for capital, under the condition of passing “a simple exercise”.

The trading company does not require any particular educational background or location from participants, which is the SCM’s way of democratizing access to the asset management space.

“Internet connectivity, ease of access to educational resources and technological innovation are making location and qualifications irrelevant. You don’t need to be in New York or London to be a money manager or trade for an asset management firm. Forex and cryptocurrency trading isn’t taught at universities. Therefore, this opportunity is open to anyone, regardless of your educational background or location”, the firm stated.

The funded trader program offers up to $1,000,000 and is accessible to all traders regardless of education or location. They, however, must pass an assessment that demonstrates their trading capabilities: traders must generate 10% profit without exceeding a daily 4% loss or a 5% account drawdown.

There is no deadline to complete the assessment and when a trader passes the assessment, they’re given at least $25,000 to manage.

Allocated capital can be raised to as much as $1,000,000, depending on the account performance, which increases traders’ opportunity to earn from performance fees.

Profitable traders retain 75% of the profits generated on the accounts. There is no limit to how often traders can perform an assessment, and failures will not impact eligibility once they succeed.

Scandinavian Capital Markets was founded by Arif Alexander Ahmad, Michael Buchbinder, and a team of financial professionals as a Wealth Management Company in 2011.

The trading firm obtained registration with the Swedish FSA a year later to strategically focus on the Forex market. After five years of operation, SCM launched an STP-ECN brokerage in 2017.

The firm’s Chief Technical Strategist is Jamie Saettele, a renowned market analyst and professional trader who began his career in October 2004 at FXCM in New York City, having worked as the Senior Technical Strategist for DailyFX.

In recent years, Scandinavian Capital Markets has focused on making its boutique trading services more inclusive.

The most recent initiative allows any trader to try out and become a trader for Scandinavian Capital Markets’ money management division.

Jamie Saettele, Chief Technical Analyst at Scandinavian Capital Markets, said: “Some of the most consistently profitable traders in the world aren’t based on Wall Street or Canary Wharf; they’re working from their homes, hundreds, even thousands of miles away from major financial centers. We’re looking for the best traders out there to enhance our strategy portfolio.”

The company is authorized by and registered with the Swedish Financial Supervisory Authority.

Read this next

Digital Assets

Zumo launches B2B ‘Crypto-as-a-Service’ solution for brokers

The new product, Zumo Enterprise, also features an embedded ESG and net zero strategy.

Technology

Top Tools to Add to Your Trading Platform to Delight and Retain Traders

The online trading boom that started during the pandemic-led lockdowns is abating. This is in part due to sustained market volatility which seems to be discouraging new investors. For example, day trading volumes in the US for retail investors declined in the last 2 quarters of 2021.  

Technology

Embedded finance platform Alviere taps Marqeta for branded card issuance in Europe and UK

Alviere has recently raised $70 million to fuel the ongoing expansion across the European region and the United Kingdom.

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

<