SCEX

SCEX Information

SCEXS was founded in Melbourne, Australia in 2023. It offers over 800 tradable instruments including Forex, Index CFD, Commodities and Cryptocurrency, with competitive trading fees. However, the lack of regulation is a major concern, which makes it risky. And only email support is provided, the lack of telephone and online customer service will affect the efficiency of problem solving.

Pros and Cons

Is SCEX Legit?

SCEX is not regulated by any regulatory authorities. Although it claims to be regulated by ASIC and FCA, its regulatory information cannot be found on the websites of ASIC and FCA, and it has not been regulated by other well-known regulatory authorities.

What Can I Trade on SCEX?

SCEX seize various market opportunities with more than 800 tradable financial instruments, including Forex, Index CFD, Commodities and Cryptocurrency.

Account Type

SCEX provides two account types for users to choose from.

The Standard account is a good option for beginners or those who prefer a long-term trading approach. It offers competitive spreads without any commission fees.

Designed for more experienced traders, the SCEXS 0.0 account provides institutional-grade spreads as low as 0.0 pips. While there is a commission fee of 7 Australian dollars per lot, this account is ideal for scalpers or algorithmic traders who require extremely tight spreads to execute their strategies effectively.

SCEX Fees

SCEX's trading fees can be considered competitive compared to many other brokers in the industry

Trading Fees

SCEX's account design takes into account the needs of different investors. The standard account commission is zero and the spread is competitive; the SCEXS 0.0 account spread is extremely low, only 0.0 points, but a commission of 7 Australian dollars per lot is required.

Swap Rates

The swap rates were published weekly, which are calculated based on risk management analysis and market conditions. Each currency pair has its own swap rate, with a standard size of 1.0 lots (100,000 base units).

SCEX also charges an overnight interest fee for holding positions overnight in stock index CFDs, stock CFDs, and commodities. This fee is based on the regional benchmark rate plus (or minus) a fixed fee of 2.5%.

Trading Platform

Deposit and Withdrawal

Deposit Options

Withdrawal Options

Customer Service

SCEX offers limited customer support options. While SCEX boasts 24/7 email support and support in multiple languages, the lack of phone or live chat is inconvenient for some traders who prefer faster or more direct methods of contacting customer service.

The Bottom Line

SCEX offers more than 800 trading instruments, and the biggest advantage is the 0 spread of its SCEXS 0.0 account and zero commission of its standard account. However, a major disadvantage is the lack of regulation and only provides email support. SCEX will be more suitable for experienced traders who can easily manage their own risks and prioritize low transaction costs.

FAQs

Is SCEX a safe platform to use?

Because SCEX is not regulated by any major financial agencies, using it carries some risk.

Who is SCEX a good fit for?

SCEX can be suitable for experienced traders who are comfortable managing their own risk and prioritize low trading costs.

Is SCEX right for beginners?

Due to the lack of regulation and limited customer support, SCEX might not be the best choice for beginners who need more protection and readily available assistance.