Scope Markets group includes 3 related companies.
Scope Markets CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Scope Markets SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
Scope Markets BZ - located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Scope Markets accepts clients from all over the world, excluding USA, Canada, Russia, Iran and some other countries from the OFAC list.
Forex broker offers the following underlying assets for trading.
|30+ Currency Pairs
|Based on major and minor world currencies.
|10 Indice CFDs
|Based on baskets of different blue-chip.
|2 Metal CFDs
|Based on Gold and Silver.
|3 Energy CFDs
|Based on Crude Oil (WTI, Brent) and Natural Gas.
|1000+ Stock CFDs
|Based on shares of US, UK, EU and Hong Kong companies.
|20+ ETF CFDs
|Based on exchange-traded funds containing various tradable assets.
Most of the Stock CFDs and ETF CFDs are offered by the European entity of Scope Markets.
Set up in 2021 and registered and regulated in Cyprus for its European clients and in South Africa and the Central American nation of Belize for its international clients, Scope Markets is a forex and stock broker that offers high trading leverage and a large range of instruments to trade on.
The trading instruments offered by Scope Markets are categorized as “leveraged products,” meaning CFDs, and “investment products,” meaning stocks and exchange-traded funds (ETFs). This makes it different from other brokers we have reviewed, which usually only offers leveraged CFDs for trading.
In the leveraged products category, Scope Markets offers nearly all of the asset classes we typically see offered by CFD brokers, in the form of CFDs of course. This includes all popular forex pairs, stock indices, a selection of commodities, around 170 single shares listed in the US, Europe and Hong Kong, and a small number of cryptocurrencies.
In the investment products category, Scope Markets offers an impressive list of more than 1,000 stocks listed on major stock exchanges in the US, UK, Germany, France, Spain, Belgium, the Netherlands, and Finland. Unlike the shares listed in the former category, these are actual shares of stock that give the holder voting rights and rights to receive dividends. It’s also important to note that these are unleveraged products, and therefore require a margin that equals 100%.
In addition to single stocks, the investment products category also includes a selection of US-listed ETF. These funds cover sectors ranging from technology to finance and energy.
All of the instruments offered by Scope Markets can be traded on the MT4 or MT5 platform, two classic trading platforms that are extremely popular among retail forex and CFD traders. As usual, the platforms are available in downloadable versions for Windows desktop computers, as well as in a web version and mobile versions for Apple and Android smartphones.
In the EU, Scope Markets offer its traders different types of trading accounts depending on their needs and how much capital they have. In the case of this broker, the accounts are called One and Plus, where One is available for a deposit of USD 200 and offers spreads from 0.7 pips, and Plus is available for a rather high deposit of USD 10,000 and offers spreads from 0.6 pips.
It’s interesting to note that these spreads are for standard STP-style accounts, and that the broker does not offer ECN-style trading accounts where spreads are typically lower and the trader instead pays a commission fee.
Outside of the EU, however, only one type of trading account is available. This account can be opened for a minimum deposit of USD 100, and is a typical STP account that offers spreads from 0.9 pips.
Another key difference to note is that leverage within the EU is limited to just 1:30, while it can go as high as 1:500 for traders based outside of the EU.
All trading accounts can be denominated in either USD, EUR, or GBP.
Scope Markets’ customer support team can be reached by phone (UK and Cyprus number), email or live chat. Unfortunately, the broker has not stated what the working hours for its support team is, which leads us to believe that support is definitely not available 24 hours a day.
In conclusion, we should say that we see Scope Markets as a serious player in the forex trading industry, given that it is fully regulated within the EU and has two additional regulated branches overseas. We are also very impressed by this broker’s huge selection of stocks, and believe it could be an ideal broker to trade with for those looking to access the stock market in an easy way through the familiar MetaTrader interface.