Scope Markets Review 2023
- Daytrading Review TeamScope Markets will appeal to traders seeking highly leveraged CFDs and spot investment products on the powerful MetaTrader 5 platform. The Scope Markets Group stands out for its range of trading tools and educational materials.
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.
Trusted
Demo Account
Beginner Friendly
MetaTrader 4
and 3 more
Scope Markets offers MT5 trading for a range of major, minor and exotic currency pairs with high leverage and a low starting deposit. Multilingual 24/5 support is also available to support forex traders.
Scope Markets offers stock trading on popular markets, alongside cash and futures indices. Clients can speculate on major stocks from US, EU, Australia, and more with competitive fees and reliable trading software.
Scope Markets clients can trade CFDs on a good selection of asset classes including forex, precious metals, energies, indices and global shares. The award-winning broker also offers a decent suite of educational materials and a YouTube channel to support aspiring traders.
Go long or short on popular cryptos like Bitcoin, Ethereum and Ripple with leveraged CFDs and competitive spreads. Depending on the jurisdiction, different regulations apply. CFDs on cryptocurrencies are not offered in all jurisdictions.
✓ Pros
- Modern Scope Trader web platform with 50+ analysis tools and intuitive design
- Available in English, Spanish, Russian, Vietnamese & Chinese etc.
- A wide range of trading training courses and tutorials
- Regular market news, updates and webinars
- Multilingual, 24/5 customer support
- MT4 and MT5 platform integration
- Low commissions and fees
- Multi-regulated group
✗ Cons
- Regulatory scrutiny varies between countries
- Limited trading instruments
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 2023 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.
Scope Trader
The broker also offers Scope Trader – a user-friendly web platform that I would recommend if you want to get started quickly. No additional plug-ins or downloads are required.
Stand out features for me are the 50+ advanced analysis tools, integrated market updates, and live forex heat map. The fact you can create custom watchlists and set up alerts also makes it straightforward to pick up where you left off next time you log in. And similar to MT4 and MT5, there is one-click trading directly from charts.
These platforms are available in most jurisdictions.
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
- 50 USD/EUR/GBP minimum deposit
- Average spreads from 0.9 pips
- Commission-free trading
- Access to MT4, MT5, Scope Trader
- Leverage up to 1:2000
- Personal account manager
- Tailored customer support
- Premium signals service
- Weekly webinars and seminars
- Premium education
- Free unlimited withdrawals
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
- 300 USD / 5000 ZAR minimum deposit
- Average spreads from 0.9 pips
- Commission-free trading
- Access to MT4, MT5, Scope Trader
- Leverage up to 1:2000
- Personal account manager
- Tailored customer support
- Premium signals service
- Weekly webinars and seminars
- Premium education
- Free unlimited withdrawals
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
- $100 minimum deposit
- 1.1 pips on EUR/USD
- Commission-free trading
- Access to all assets including forex, cash indices, futures indices, shares, commodities
- 0.01 minimum trade size
- Leverage up to 1:400
- 150% margin call
- 50% stop our level
- Swap-free solution
- No strategy restrictions
- Demo account
Gold
- $100 minimum deposit
- 0.2 pips on EUR/USD
- $3.5 commission per side
- Access to all assets including forex, cash indices, futures indices, shares, commodities
- 0.01 minimum trade size
- Leverage up to 1:400
- 150% margin call
- 50% stop our level
- Swap-free solution
- No strategy restrictions
- Demo account
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.
Alternatively, the Scope Trader 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:
- RS Global Ltd is authorized and regulated by the Financial Services Commission (FSC) of Belize.
- Scope Markets SA (PTY) Ltd is authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.
- SCFM Limited is authorized and regulated by the Capital Markets Authority (CMA) of Kenya Online Foreign Exchange Trading Broker License No 123 and NSE Derivatives Broker No 143.
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
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.
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.
Accepted Countries
Scope Markets does not accept traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, France, Germany, Norway, Sweden, Italy, Denmark, Luxembourg and most other countries.
Traders cannot use Scope Markets from Afghanistan, Haiti, Iran, Iraq, Libya, Pakistan, Sudan, Syria, Yemen and other countries.
*Depending on the jurisdiction, different regulations apply. Please ensure you fully understand with which entity you are opening an account.
Payment Methods
Scope Markets Details
| Minimum Trade | 0.01 lots |
|---|---|
| Regulated By | CMA, FSC, FSCA |
| Islamic Account | Yes |
| Mobile Apps | iOS & Android |
| Margin Trading | Yes |
| Volatility Index | No |
| Spot Trading | Yes |
| Perpetual Swaps | No |
| ELWs | No |
| REITs | No |
| AI / Machine Learning | No |
| Robo Advisor | No |
| P2P Trading | No |
| Negative Balance Protection | Yes |
| VPS Hosting | No |
| Tournaments | No |
| Demo Competitions | No |
| Managed Accounts | No |
| Market Maker | No |
| Auto Trading | Yes |
| Social Trading | No |
| Guaranteed Stop Loss | No |
| Stock Exchanges |
|
| Commodities |
|
CFD Trading Details
| FTSE Spread | 0.4 |
|---|---|
| GBPUSD Spread | 1.0 |
| Oil Spread | 0.2 |
| Stocks Spread | Variable |
| Leverage | 1:2000 (location dependent) |
Forex Trading Details
| GBPUSD Spread | 1.0 |
|---|---|
| EURUSD Spread | 1.0 |
| EURGBP Spread | 1.0 |
| Assets | 44 |
Cryptocurrency Trading Details
| Crypto Spread | Variable |
|---|---|
| Crypto Lending | No |
| Crypto Staking | No |
| Crypto Mining | No |
| Crypto Auto Market Maker | No |
| Crypto Coins |
|
Top 3 Alternatives to Scope Markets
Compare Scope Markets with the top 3 similar brokers that accept traders from your location.
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IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group -
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade -
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
Scope Markets Comparison Table
| Scope Markets | IG Group | Just2Trade | World Forex | |
|---|---|---|---|---|
| Rating | 4.2 | 4.4 | 3.5 | 4 |
| Markets | Forex, Stocks, Commodities etc. | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $50 | $0 | $100 | $1 |
| Minimum Trade | 0.01 lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Regulators | CMA, FSC, FSCA | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | CySEC, NFA, FINRA, Bank of Russia | SVGFSA |
| 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. | – | Up to $2,000 for professional accounts | 100% Deposit Bonus |
| Education | Yes | Yes | No | No |
| Platforms | MT4, MT5 | MT4, AutoChartist, TradingCentral | MT4, MT5, TradingCentral | MT4, MT5 |
| Leverage | 1:2000 (location dependent) | 1:30 (Retail), 1:250 (Pro) | 1:20 | 1:1000 |
| Payment Methods | 8 | 6 | 20 | 10 |
| Visit | Visit | Visit | Visit | Visit |
| Review | – | IG Group Review |
Just2Trade Review |
World Forex 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.
| Scope Markets | IG Group | Just2Trade | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | Yes | 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 | No | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
Scope Markets vs Other Brokers
Compare Scope Markets with any other broker by selecting the other broker below.
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Visit | |
| 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. | ||
Customer Reviews
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