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The Forex Valhalla Initiative: Know Your Broker

Online Investing is Antisocial
Technology is driving business to become ever more impersonal. Communication technologies such as instant messaging, video conferencing, online ordering, email and social media have enabled us to extend the reach of who we can do business with, across oceans and timezones, which is amazing. The downside is that we, the general population, have become lazy. These powerful communication capabilities are also used to communicate with contacts in the same town that you could quickly grab lunch.

Online trading is a notoriously antisocial activity, but it wasn’t always like that. Brokers used to give quotes and take orders over the phone, traders would shout and use hand signals to place orders on the exchange trading floor, and investors would meet their account managers for lunch. Like most industries, trading and investing was a very social activity and has undergone a significant transformation due to technology.

How to Know your Broker
Doing business online has become the norm, but sometimes we find ourselves faced with a deal which is outside of our comfort zone. Everyone has different boundaries, but we all have a breaking point. Day trading can be an emotional rollercoaster, add on top of that the anxiety that your broker doesn’t have your best interests in mind can have a devastating effect. One broker has found a solution when it comes to reassuring their clients and bringing back that old school face-to-face approach.

Scandinavian Capital Markets is a Stockholm based forex broker that has created a unique business partnership program called the Forex Valhalla Initiative. The Forex Valhalla Initiative originates from Norse mythology (more on that later). The program, set up by Scandinavian Capital Markets invites their clients and money managers on a sponsored trip to visit the companies headquarters in Stockholm to meet with the management and operational staff. This initiative restores old school elements of business which are gradually fading.

Meet your Broker in Person
While many brokers opt for wide-reaching regional seminars with local sales managers in attendance, the Forex Valhalla goes for a more concentrated approach. It gives invitees a unique opportunity to visit the engine room and meet the crew without the marketing filter distorting reality. This approach is genuinely refreshing.

What is the Forex Valhalla Experience
The Forex Valhalla takes inspiration from the Norse myth of Valhalla. For a more in-depth explanation of this myth and how it inspires Scandinavian Capital Markets, you should read this post on Medium. In brief, Scandinavian Capital Markets is building an environment for forex traders who have endured the toughest challenges forex has to offer. It’s the traders who have stared into the eyes of the beast which is the many unscrupulous FX brokers that walk this earth. For the traders who a resilient enough to have survived the FX minefield, their Valhalla is a well-managed broker who follows a strict code of ethics.

What the Forex Valhalla Achieves
The project aims to connect with the international community of Forex participants who not only strive to improve the industry but believe that it can be done. Anyone with influence in the industry is welcome to join, such as business leaders, educators, influencers, professional traders and fund managers. If you want to help make forex better, you can register your interest in getting involved here. The alumni of the Forex Valhalla include many notable personalities from the FX community.