Scandindex has been flagged by Finansinspektionen for "Fraud and Other Types of Misconduct". Scandindex has a website (www.scandindex.com) and is using the following contact information:
Scandindex
5 Harbour Exchange, Harbour Exchange Square, Canary Wharf
London, E14 9GE
United Kingdom
Telephone: +352691177757
+447451283049
E-mail: [email protected] This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.scandindex.com.
I trusted Scandindex with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: No hidden fees|Reliable uptime|Good mobile app
Cons: Research section could be deeper
Scandindex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Full transparency|Smooth onboarding|Two-factor authentication|Great customer service
Cons: Live chat only during business hours
After for about three months with Scandindex I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Segregated accounts|Fast support response|Comprehensive tools
Cons: No fractional shares
Scandindex has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Full transparency|Good mobile app|Segregated accounts|Excellent charting
Cons: No phone support on weekends
For anyone considering Scandindex, please be aware that this company has been flagged by Finansinspektionen. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I requested my data from Scandindex under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Multi-device support|Quick verification
Cons: Onboarding videos are outdated
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Scandindex is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
The mobile app from Scandindex is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Fast execution|Multi-currency support|Regular platform improvements|Demo account available
Cons: No fractional shares
I was about to invest with Scandindex but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Finansinspektionen has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database