Privacy Policy

Effective Date: 24th of February, 2024

Scandinavian Capital Markets (“we”, “us”, “our”) is committed to protecting the privacy and security of your personal information. This privacy policy outlines our practices concerning the collection, use, and sharing of your personal data when you use our services through our website, mobile application, or through direct interactions with our representatives. Our practices are designed to be in compliance with the General Data Protection Regulation (GDPR) and other relevant laws.

Collection of Personal Information

We collect information that is necessary for providing our brokerage services, managing your account, executing transactions, and complying with legal obligations. The types of personal information we collect include:

Identification Data

Full name, date of birth, nationality, and government-issued identification (e.g., passport, national ID card) for identity verification purposes.

Contact Information

Email address, telephone number, and postal address to communicate with you regarding your account and services.

Financial Information 

Bank account details, payment card information, and transaction history for processing deposits, withdrawals, and executing orders.

Employment and Background Information

Occupation, income, and investment experience to assess suitability for certain types of investments.

Technical Data

IP address, login data, browser type, and version to ensure the security of our services and to improve your user experience.

Use of Personal Information

Your personal data is used for the following purposes:

  • To open, manage, and maintain your account with us.
  • To process transactions and execute orders on your behalf.
  • To comply with legal and regulatory obligations, including anti-money laundering (AML) and know your customer (KYC) requirements.
  • To communicate with you about your account and our services.
  • To provide customer support and resolve any disputes.
  • To improve and personalize our services.
  • For security purposes, to protect against fraud and unauthorized transactions.

Sharing and Disclosure of Personal Information

We may share your personal information with:

Service Providers

Third-party companies that provide services on our behalf, such as payment processing, data analysis, email delivery, hosting services, and customer support.

Regulatory Authorities

When required by law or in response to legal processes, we may disclose your information to regulatory bodies to comply with our legal obligations.

Affiliates and Partners

Entities within our corporate group and business partners for the purposes of providing the brokerage services, subject to the terms of this privacy policy.

We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.

Data Security

We have implemented appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorized way, altered, or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors, and other third parties who have a business need to know. They will only process your personal data on our instructions, and they are subject to a duty of confidentiality.

Your Rights

Under the GDPR, you have rights that allow you greater access and control over your personal data. You have the right to:

– Request access to your personal data.

– Request correction of the personal data that we hold about you.

– Request erasure of your personal data.

– Object to processing of your personal data.

– Request restriction of processing your personal data.

– Request transfer of your personal data.

– Withdraw consent at any time where we are relying on consent to process your personal data.

Please note that we may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights).

Data Deletion and Retention Terms

Data Deletion Requests

At Scandinavian Capital Markets, we respect your privacy and provide you with the right to request the deletion of your personal data that we hold. If you wish to exercise this right, please submit your request through our designated email: Upon receiving your request, we will take steps to verify your identity before processing the deletion to protect your information from unauthorized access or accidental deletion.

Please note that while we aim to process your deletion request promptly, the deletion of your data from our active databases will be subject to any legal, regulatory, or operational constraints that might require us to retain specific data for a period.

Retention of Transaction Data Under AML Laws

In accordance with Anti-Money Laundering (AML) regulations, Scandinavian Capital Markets is required to retain records of financial transactions for a minimum period of up to 5 years. This requirement is in place to support law enforcement and regulatory bodies in the detection, investigation, and prevention of financial crimes and money laundering activities.

The data retained for AML compliance purposes includes, but is not limited to, transaction records, identification verification documents, and records of communication related to the transactions. It is important to understand that such data cannot be deleted upon request until the end of the legally mandated retention period.

Exceptions to Data Deletion

While we are committed to honoring your privacy rights, please be aware that in certain circumstances, we may be unable to delete your data immediately. These exceptions include:

Compliance with AML Laws

As mentioned, data pertaining to financial transactions is subject to a retention period mandated by AML laws.

Legal Obligations

Data may be retained beyond the standard period if required by other legal obligations, court orders, or government requests.

Security and Fraud Prevention

Information may be retained as necessary to resolve disputes, enforce our agreements, and protect Scandinavian Capital Markets and its users from fraudulent activities and security threats.

Changes to Our Privacy Policy

We may update this privacy policy from time to time in response to changing legal, technical, or business developments. When we update our Privacy Policy, we will take appropriate measures to inform you, consistent with the significance of the changes we make.

Contact Us

If you have any questions about this privacy policy or our privacy practices, please contact us at:

This privacy policy is effective as of the 24th of February, 2024. We encourage you to review this privacy policy frequently to be informed of how we are protecting your information.