Scope Markets Review 2024

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Written By
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Written By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
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Fact Checked By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
Updated

4.2 / 5
Scope Markets is #13 in our CFD broker rankings.

Scope Markets continues to appeal to experienced short-term traders seeking highly leveraged CFDs and spot investment products on the powerful MetaTrader 5 platform. Investors can also access additional trading tools, including premium signals and PAMM/MAM accounts.

- William Berg, Reviewer

Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.

$50
Scope Trader, MT4, MT5
Forex, CFDs, Stocks, Commodities, Indices, Futures
50% Deposit Bonus Up to $50,000. *Bonus promotions do not apply to all entities. Depending on the jurisdiction chosen to open an account with, different regulations apply.
USD, EUR, GBP
Credit Card, Debit Card, Wire Transfer, Skrill, Neteller, M-Pesa, Mastercard, Visa

Forex Trading

Scope Markets offers 40+ major, minor and exotic currency pairs. Although the range is average, experienced traders can access very high leverage up to 1:2000. Additionally, the broker’s proprietary terminal delivers advanced analysis tools, including a live forex heatmap.

Stock Trading

Scope Markets offers stock trading on 1500+ popular markets, as well as a decent range of cash and futures indices. Traders looking to diversify can explore some other interesting opportunities, like cannabis stocks. There are also some useful resources to help inform trading decisions, including a dividend calendar.

CFD Trading

You can trade hundreds of CFDs on major asset classes including currencies, shares and futures. Spreads are not overly competitive starting at 0.9 pips, although the $50 minimum deposit and zero commissions will allow active traders to keep their costs down.

Crypto Trading

Traders can go long or short on popular cryptos like Bitcoin, Ethereum and Ripple paired with USD. Trading is available on the MT5 platform, which offers an excellent environment for short-term crypto strategies, with 21 chart timeframes and dozens of indicators.

✓ Pros

  • There's a decent range of research and analysis resources including a market blog, forex calculators and an economic calendar
  • Day traders can access both the MT4 and MT5 platforms, with support for Expert Advisors (EAs) and auto trading strategies
  • The Scope Trader proprietary platform offers high quality technical features, including 50+ charting tools
  • The broker offers multilingual, 24/5 customer support via telephone, email and live chat

✗ Cons

  • Spreads are wider than some alternatives, starting from 0.9 pips for major pairs - the best brokers offer spreads from 0.0 pips
  • Scope Markets is not overseen by any of the top-tier regulators in the US, Europe or Australia
  • Educational resources are very limited which will reduce the appeal for beginners

Scope Markets is the brand name of Scope Markets Group, a global group of trading brokers, offering both leveraged and investment products that cover forex, commodities, shares and indices. The firm boasts MetaTrader 5 access and a range of account types, payment methods and education material that should meet the needs of most traders, from Nigeria and Kenya through to Mexico and beyond.

This 2024 Scope Markets review will delve into the broker’s services, client portal login, bonus offers, assets and more.

Scope Markets Headlines

Scope Markets is a multi-regulated group of brokers. Scope Markets is a brand name of Scope Markets Group.

Scope Markets Group includes but is not limited to several entities to cover relevant jurisdictions with companies in Belize, Kenya and South Africa, among others.

Trading Platforms

MetaTrader

Our review of Scope Markets found that the firm offers the MetaTrader 5 (MT5) and MetaTrader 4 (MT4) platforms, which are available as desktop clients or web-based applications. MT5 is an all-in-one platform that integrates several asset classes into one place, including forex, stocks and futures.

MT5 is very popular, giving clients a smooth, seamless and intuitive platform that is easy to use but offers advanced charting tools, fast order trade execution and access to several technical indicators and timeframes.

Automated trading is also supported through the use of EAs, which is similar to its predecessor, MT4. Both platforms are available for download from the Scope Markets websites.

The desktop applications offer multiple timeframes, real-time symbol quotes, dozens of technical indicators, pending orders and an economic calendar that delivers macroeconomic news from various countries that may have an impact on financial instrument prices.

On top of this, clients can create custom indicators and algorithms with the MQL5 language and analyze advanced charts and graphical objects.

Assets

Scope Markets supports both short-term and long-term trading strategies, with leveraged derivatives and spot investment products.

Clients can access multiple forex pairs and CFDs on commodities, stocks and indices. The broker also offers ETFs and stock investment products.

Accounts

Scope Markets clients can open either a CFD account or an Investment account. The former provides access to leveraged instruments for shorter-term trading approaches, while the latter allows the exchange of equity shares.

CFD accounts have three tiers, with fixed, variable and raw spreads.

Depending on the jurisdiction the clients choose to open a trading account, based on their residency, different account offerings shall apply.

Belize – One Account

Depending on the jurisdiction chosen to open an account, different regulations apply. Please ensure you fully understand with which entity you are opening an account.

South Africa – One Account

Depending on the jurisdiction chosen to open an account, different regulations apply. Please ensure you fully understand with which entity you are opening an account.

Kenya – Silver & Gold Accounts

Silver

Gold

Based on the residency of the client, different regulations apply therefore the products and services may vary. Please make sure you understand with which entity you are opening an account with.

Mobile Apps

Scope Markets clients can manage their accounts, view their portfolios and enact trades on the go through the MetaTrader 5 mobile app. The mobile platform offers several chart types, 30 indicators, full account management, built-in news and notification centre and interactive charting.

The application can be downloaded to both Apple (iOS) and Android (APK) devices through the Apple App Store and Google Play Store.

scope markets logo and head office hub
MT5 Mobile App

Alternatively, the Scope Mobile App is available. You can trade shares, indices, forex, and commodities in a few taps and we like the modern look and feel, an improvement over the MT5 application.

Many of the web features can also be found in the mobile app, making it a smooth transition from desktop to mobile without seriously sacrificing on functionality.

Payment Methods

Deposits

Scope Markets clients can use a variety of payment methods to fund their trading accounts:

Each jurisdiction provides different payment methods. Please make sure you understand with which entity you are registering an account with.

Withdrawals

You may only withdraw funds via the same method that was used to deposit. Where this is not feasible, the company may suggest such other alternative methods to be applied.

Where an alternative method is to be applied, the Client shall be required to submit to the Company proof of ownership of such account.

Depending on the jurisdiction, it can take up to five working days, to process each withdrawal. Wire transfers can take between 1 to 8 working days, depending on the banking procedure of the beneficiary bank.

Regulation & Licensing

Scope Markets is a brand name of the Scope Markets Group. The Scope Markets Group includes but is not limited to the following entities:

Additional Features

When we used Scope Markets, we found the websites have a helpful blog section that covers developments in the financial markets and analysis of different instruments and sectors.

There is also an economic calendar and an extensive education section, complete with trading seminars, training courses, tutorials and Q&As.

Setting Up An Account

To set up an account with Scope Markets, you will normally need a copy of your ID and proof of residence, depending on your residence.

During the registration process, you must input a variety of personal and financial information and, after that, answer several questions relating to your financial situation, investment experience and future goals. Finally, you must upload your ID and proof of residence.

You will receive an email notification when the verification is complete.

Trading Hours

Scope Markets is open 24/7 for account management and platform use. However, Forex instruments can only be traded 24/5 during weekdays and other equities and commodities are limited to the times of their respective exchanges and markets.

Customer Support

2.5 / 5

Scope Markets’ customer service team can be contacted via telephone line, email and the live chat function on the websites. The team is available 24/5, Monday through Friday.

Scope Markets also has active social media accounts including Twitter, Instagram, LinkedIn, Facebook, etc.

scope markets forex, cfd and stock broker
MT5 Desktop Platform

Safety & Security

Scope Markets website is protected by SSL (Secure Socket Layer). All sensitive information submitted by clients is automatically transferred by SSL to a secure environment. The cashier is PCI Level 1 Merchant compliant and ensures that all your data is secured.

The group of companies have won several awards at the World Forex Awards.

Scope Markets Verdict

Scope Markets is multi-regulated group of forex and CFD brokers operating across the world and consists of licenses in multiple jurisdictions including Belize, South Africa and Kenya. Scope Markets offers its services to retail and institutional clients.

The group of companies now holds licenses with the CMA, FSCA and FSC, offering leveraged derivatives and spot equity investment products to retail and professional clients.

Accounts come with free access to MT5, competitive trading conditions and multilingual, 24/5 customer support. There is a decent range of educational content available on the websites, alongside a blog and a YouTube channel.

FAQs

How Much Capital Do I Need To Trade With Scope Markets?

Minimum deposit starts from $50 depending on the entity you opened an account with. Based on the residency of the client, different regulations apply therefore the products and services may vary. Please make sure you understand with which entity you are opening an account with.

Is Scope Markets Safe & Legit?

The Scope Markets Group has licences in multiple jurisdictions including inter alia Belize (FSC), South Africa (FSCA) and Kenya (CMA).

Is Scope Markets A Good Broker?

Scope Markets offers competitive trading conditions, access to the MT5 trading platform and a range of market analysis articles and educational webinars. Leverage up to 1:2000 depending on the instruments and jurisdiction you opened an account with.

How Can I Contact Scope Markets?

Scope Markets customer support can be contacted via telephone, email and live chat. The support team is available 24/5 during the week and can provide help in English, Spanish, Russian, Chinese and Vietnamese, among others.

Forex and CFDs are high risk products and losses may exceed initial investment. 

Top 3 Alternatives to Scope Markets

Compare Scope Markets with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

    Forex trading involves risk. Losses can exceed deposits.
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. ForexChief – xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

Scope Markets Comparison Table

Compare Scope Markets With Similar Brokers
Scope Markets IG Interactive Brokers ForexChief
Rating 4.2 4.4 4.3 3.4
Markets Forex, CFDs, Stocks, Commodities, Indices, Futures CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $0 $0 $10
Minimum Trade 0.01 lots 0.01 Lots $100 0.01 Lots
Regulators CMA, FSC, FSCA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA VFSC
Bonus 50% Deposit Bonus Up to $50,000. *Bonus promotions do not apply to all entities. Depending on the jurisdiction chosen to open an account with, different regulations apply. $100 No Deposit Bonus
Education Yes Yes Yes No
Platforms Scope Trader, MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:2000 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 8 6 6 12
Visit Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
ForexChief
Review

Compare Trading Instruments

Compare the markets and instruments offered by Scope Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Scope Markets Trading Instruments
Scope Markets IG Interactive Brokers ForexChief
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures Yes Yes Yes No
Options No Yes Yes No
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Scope Markets vs Other Brokers

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Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.