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