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Scope Markets group includes 2 related companies.
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).
Scope Markets group accepts clients from all over the world, excluding USA, UK, EU, Canada, Russia, Iran and some other countries from the OFAC list.
Forex broker offers the following underlying assets for trading.
| 75+ Currency Pairs | Based on major and minor world currencies. |
| 10 Indice CFDs | Based on baskets of different blue-chip. |
| 7 Metal CFDs | Based on Gold and Silver. |
| 4 Energy CFDs | Based on Crude Oil (WTI, Brent), Gasoil and Natural Gas. |
| 8 Soft CFDs | Based on Cocoa, Coffee, London No 7 Cocoa, Robusta Coffee, Sugar White, Orange Juice, Wheat, US Corn. |
| 2000+ Stock CFDs | Based on shares of US, UK, EU and Hong Kong companies. |
Set up in 2017 and registered in South Africa and the Central American nation of Belize, Scope Markets is a forex and stock broker that offers high trading leverage and a large range of instruments to trade on.
Scope Markets offers nearly all of the asset classes we typically see offered by forex and CFD brokers, in the form of CFDs of course. This includes all popular forex pairs, stock indices, a selection of commodities, shares from more than 2,000 companies listed in the US, Europe and Hong Kong. The broker also used to offer a small number of cryptocurrencies for trading, but unfortunately this is no longer the case as of this writing.
Notably, share trading on Scope Markets differs from what is offered by many other brokers in that it also offers real shares in addition to share CFDs (referred to as “fractional stocks” on the broker's website). This means that the trader will get voting rights and rights to receive dividends, which is not the case when holding CFDs. It's also important to note that these are unleveraged products, and therefore require a margin that equals 100% of the position size.
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.
An interesting thing about Scope Markets is that it offers a single type of trading account for most of its clients. Simply referred to as the “One Account,” this account offers average spreads from 0.9 pips and commissions on futures and spot commodities of $5 per side. Surprisingly, the account also charges rather high commissions on stocks, ranging from 4% in Canada to a whopping 35% in Hong Kong.
The account has a minimum deposit requirement of $50.
In addition to the single standard account, Scope Markets also offers an “Elite” account for clients who deposit more than $20,000. This account offers tight spreads from 0 pips, and commissions of $3.5 per side.
All trading accounts can be denominated in either USD, EUR, GBP, or AED, and gives access to leverage up to 1:1,000.
Scope Markets' customer support team can be reached by phone, 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 see Scope Markets as a serious player in the forex trading industry, given that it is fully regulated in at least one jurisdiction, namely South Africa. 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.
