This week, FinanceFeeds, a leading forex industry publication, conducted detailed research at Scandinavian Capital Markets in Stockholm, Sweden.
Scandinavian Capital Markets ideology expands far beyond competing with existing FX brokerages.
Guided by two highly reputable external professionals, those being Justin Hertzberg, CEO of Forest Park FX, one of North America’s only NFA membership holding introducing brokers, and leading social data analyst, Nathaniel Hansen of The Socializers, the organization is using the novel approach of relationships instead of advertising/conference attendance.
“We invite professionals and individuals to Stockholm to experience what is happening in Sweden during this tumultuous time in the forex industry,” said Managing Partner Arif Alexander Ahmad.
“Our goals include leading good quality business, and making a conscientious shift away from the controversy that is related to places like Cyprus and Malta, bring on board disenfranchised money managers and IBs from regions where a combination of strict regulations along with predatory brokers that do not adhere to those regulations is stifling their forex business, to help them to continue and grow in the more friendly corruption-free Swedish ecosystem,” explained Mr Ahmad.
The ideology behind Scandinavian Capital Markets is to combine elite customer care with its own proprietary trading platform, all built on a foundation of Swedish culture. Above all else, the company also sees the importance of meeting its clients and having a human relationship, which is an important diversion from typical sales models in the retail FX business.
Sweden has one of the world’s best reputations for safety, transparency, and neutrality. Scandinavian Capital Markets has approval by the Swedish FSA and works with Swedish banks. There are currently no Swedish retail STP (Straight Through Process) forex brokers, therefore this is a great opportunity to be able to leverage everything that Sweden stands for.
“This new model is far better than the classic retail FX model where traders and even IBs feel intimidated, give a small amount of money and then never come back. That is the current stand-off between false-named call centers hiding behind layered identities versus total transparency and quality customer care,” said Mr Hansen.
Mr Ahmad then elaborated, “Old Swedish culture has a specific ethos that everyone is equal, and that you shouldn’t try to be someone else.”
“It is a very egalitarian society, there is no problem being well off, but if you show off, that’s the opposite of Jantelagen, which is about harmony, equality and equal distribution of wealth so that you can’t buy politicians, or buy off institutions in the media or influential figures, yet ensures that the middle classes are very comfortable and safe. People in Sweden are quite simply not afraid of anything. Everyone is taken care of in this country and people are calm. We intend to take of our clients in the same way as Sweden takes care of its citizens – with care, integrity and a long-term view.”