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

Retail FX

Eurotrader taps MahiMarkets’ cross-asset trading technology for pricing and risk management

Eurotrader has tapped MahiMarkets’ cross-asset trading technology to manage its pricing and risk management on its fully licensed and regulated retail brokerage operation covering forex, stocks, indices, and commodities. 

Technology

STT doubles user base as Sterling OMS adopted by TradeZero, Avenue, Banco C6

Sterling Trading Tech (STT) has announced record growth of its order management system (OMS) offering, doubling its user base throughout the second half of 2022.

Retail FX

CMC Invest announces flexible stocks and shares ISAs amid changes in UK policy

In addition to a flexible ISA, the Plus plan provides members with a USD currency wallet for their general investment account (GIA), alongside the default GBP wallet that comes with all CMC Invest accounts. This means users will hold both a GBP wallet and a USD wallet. Saving customers money on FX fees.

Executive Moves

The Trading Pit snatches Skilling Daniela Egli from Skilling to lead Cyprus operation

“We feel privileged to have Daniela join The Trading Pit and bring her extensive expertise to our prop trading firm. We are confident in The Trading Pit’s ambition to provide the ultimate global trading environment for talented traders to enhance their skills and eventually become professional fund managers.”

Industry News

Worldpay taps SheerID to allow merchants to better target their audiences

SheerID verifies over 2.5 billion people via 20,000 authoritative data sources; provides global insights from hundreds of the world’s leading brands, and never shares or sells customer data.

Crypto Insider

Cardano (ADA) Price For 2022-23: Buy Cardano With NAGAX

Cardano (ADA) is probably one of the most renowned and well-known cryptocurrencies out there at the moment and is currently available on the majority of the crypto exchanges and platforms in the market.

Retail FX

ACY Securities recognized by Salvation Army NSW for its support to charity work

““Sitting in the backyard of those family friends, to see the devastation the floods had brought, was a real eye-opener, and a testimony to the Salvos who were on the ground helping every one of those in need during the recent NSW floods.”

Executive Moves

BNP Paribas announces senior executives of Global Markets Americas division

French bank BNP Paribas has appointed several senior executives to its Global Markets Americas division, demonstrating its ambition to grow its Global Equities, Global Credit, and Global Macro franchises in the region. 

Technology

Match-Trade expands partnership with Takeprofit Tech

California-based FX technology provider Match-Trade Technologies has expanded its partnership with fintech software developer Takeprofit Tech.

<