Place A Trade Migration Guide

On the 8th of November we announced the migration of Place A Trade to Scandinavian Capital Markets. We wrote this guide to help you guide through the migration, what’s changing and what you need to do.

The Migration

Place A Trade has sent a notice through its broker Eightcap to all its clients on Nov 8th, 2024 about the migration that will take place on the 22nd of November, 2024. Here are the migration key points:

Position transfer

All open and historical positions will be migrated from Place A Trade accounts to the new Scandinavian Capital Markets accounts.

1. Open positions will be transferred with the same open price and current market price.
2. No commissions or other fees will be charged on positions transfers.
3. Traders will not be required to close or adjust their positions before or at the date of the migration.
4. Closed positions will be imported and added to the history of every trading account.
5. After the migration is completed on the 22nd of November, traders will receive access to their new accounts where they will find all positions.

Funds transfer

At market close on Friday (22nd of November 2024), Eightcap will reconcile the funds of your account and transfer to us your current equity at that period.

1. No fees will be charged for the transfer of funds
2. The funds transferred will match your account equity during rollover.

KYC Documentation

Place A Trade will share the KYC documentation for every user that will be migrated to Scandinavian Capital Markets.

1. Once we receive your KYC documentation, we will onboard you into our backend system.
2. You do not need to apply for an account or send any document unless otherwise requested by our team.
3. After the migration is complete, we will send you instruction on how to login to our backend dashboard where you will be able to deposit, withdraw, and manage your account.

What changes

We have worked hard with the Place A Trade team to build a brokerage product that will best serve the strategies and signals that you trade. Once the migration is completed, you can expect the following changes:

1. New account number and password
2. Full access to your new trader dashboard
3. Lower commissions for your trades
4. Premium support in English, Spanish, and Portuguese

What you need to do

On your side you don’t have to do anything before the migration. Once the migration is complete we will send you an email outlining the process for you to login to your new dashboard and account at which point you just need to follow that. Once you are logged in, you are all set and can continue trading.

How to get support

Our team is completely available to your during the whole process and we will be happy to answer any questions. Please contact us through one of the following ways:

1. Email: support@scandinavianmarkets.com
2. Whatsapp: +46739076625
3. Phone: +46 08 525 160 29