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

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<