Scope Markets Broker Review

Written by Emmanuel Ifeanyi

Emmanuel Ifeanyi

Emmanuel Ifeanyi Ekwomadu is a financial content writer specialised in Forex, Stock and Crypto trading. He is the person behind most of the brokers reviews that you will find on BestBrokers.com

, | Updated: December 15, 2025

Scope Markets is a CFD broker that operates a network of separately regulated entities in the European Union, Africa, and offshore jurisdictions such as Belize. The firm positions itself as a low-cost, MT4/MT5-focused provider offering access to a reasonably broad suite of markets, including more than 40 currency pairs, major global stock indices, popular commodities, share CFDs, and a handful of cryptocurrencies.

Thanks to its tier-2 CySEC licence, EU retail clients benefit from the usual MiFID safeguards such as a €20,000 investor compensation fund and negative balance protection at 1:30 leverage. Outside the EU, the broker is supervised by the IFSC in Belize, the FSCA in South Africa, the Capital Markets Authority (CMA) in Kenya, the Financial Services Authority of Seychelles (FSA), and other offshore entities that offer leverage of up to 1:1000 but thinner statutory protections.

With minimum deposits from $10 ($200 in the EU), a choice between commission-free “spread-only” accounts or zero-spread accounts that carry a per-lot commission, and an account type suitable for professionals, Scope Markets targets retail and seasoned traders alike. Its selection of instruments is also impressive and features FX pairs, indices, stocks, commodities, futures, and cryptocurrencies.

In Europe, Scope Markets supports the popular MT5, while the offshore entities also support its predecessor and IRESS. Where the broker currently lags behind the industry leaders is in research depth. Additionally, asset classes such as bonds and options are missing, and educational content remains basic.

Client-sentiment statistics underline a generally mixed public perception. On Trustpilot, Scope Markets scores roughly 2.8 / 5 based on 53 reviews (December 2025 snapshot). Positive reviews frequently cite responsive live chat support and fast withdrawals. Critical voices, meanwhile, complain about position closure, sporadic widening of spreads, and some reviewers faced issues with withdrawals.

The $10 entry point makes Scope Markets’ international offering an excellent option for novice and budget-conscious traders, while the $200 minimum in Europe is still in line with the discount-broker segment and significantly lower than the $500–2,000 thresholds still demanded by certain brokers. Costs on the One Account compare favourably with large-scale peers.

Key Pros and Cons

If you are looking for a quick snapshot of Scope Markets, the following advantages and drawbacks distil the broker’s competitive profile into bullet-point form. Keep in mind that some pros apply only to specific regulated entities, so always check which subsidiary will ultimately hold your funds.

In practical terms, Scope Markets will appeal to traders who enjoy using MetaTrader and want a cost-efficient route into the core CFD markets with competitive spread pricing. The broker is also attractive for African residents thanks to its local phone support and M-Pesa funding options.

On the flip side, traders who insist on the comfort of an FCA or ASIC-regulated umbrella, are looking for a broker with much to offer in terms of education, or wish to trade bonds or options, may find Scope Markets unsuitable for their needs. Ultimately, the decision hinges on your personal risk tolerance and product requirements.

Before funding any live account, we strongly recommend opening a free demo, reviewing the legal documentation relevant to your country of residence, and ensuring that the chosen entity offers the protections you expect.

Company Information

Scope Markets is the trading name shared by a cluster of privately held companies that are part of Rostro Group and target different regions under separate regulatory licences. The flagship European operation is SM Capital Markets Ltd, headquartered in Limassol, Cyprus, and regulated by the Cyprus Securities and Exchange Commission (CySEC licence 339/17).

Its offshore entities, meanwhile, are authorized by the regulators of Mauritius, Belize, and Seychelles. In Africa, the broker boasts licences from Kenya’s Capital Markets Authority and the Financial Sector Conduct Authority of South Africa.

Here is an overview of the Scope Markets entities with their respective registered offices:

The brand traces its commercial origins to institutional FX ventures launched in the mid-2010s. Over the past decade, the group has opened representative offices in Belize City, Port Louis, Nairobi, and Johannesburg, significantly widening its scope and client base. The company is not listed on any stock exchange, but its CySEC licensing shows that the European arm has met EU minimum capital requirements.

Scope Markets’ leadership presents the firm as a “technology-driven gateway” between retail traders and institutional liquidity, emphasising competitive spreads and strong after-sales support. Marketing materials highlight lightning-fast order processing and a no-dealing-desk ethos.

Why Trade with Scope Markets?

Even in a crowded CFD marketplace, Scope Markets manages to carve out a distinct value proposition. The combination of CySEC oversight for European traders and higher-leverage offshore or African entities for risk-tolerant clients makes the brokerage a suitable option for a plethora of traders across the globe. Additionally, the broker’s low-spread accounts bring institutional-style pricing within reach of active retail traders, while its One account offers simplicity for newer entrants who prefer commission-free dealing.

The following table summarises the headline benefits of Scope Market across eight core evaluation criteria.

* Not supported by Scope Markets in Europe

Regulation

The regulatory status of a broker is arguably the single most important due diligence checkpoint for any prospective client. Scope Markets operates six distinct entities, each answering to a different supervisory authority and each offering varying degrees of leverage and client protection. Understanding which company you will contract with is vital for gauging legal safeguards, compensation arrangements, and dispute-resolution mechanisms.

• SM Capital Markets Ltd (company registration number 346068) is authorized and regulated by the Cyprus Securities and Exchange Commission under licence number 339/17. As a Cypriot Investment Firm (CIF), it is subject to MiFID II, it must keep client money in segregated trust accounts at EU-regulated banks, and it contributes to the Investor Compensation Fund (ICF) that covers eligible retail losses up to €20,000 per claimant. Leverage is capped at 1:30 for major FX pairs, marketing of CFD products follows ESMA conduct rules, and negative balance protection is mandatory when it comes to non-professional traders.
• RS Global Ltd is incorporated in Belize and regulated by the International Financial Services Commission (licence number 000274/38). Referred to as the IFSC, the watchdog is considered an offshore, lower-tier regulator. It does impose minimum capital requirements and reporting, however. RS Global Ltd advertises leverage limits of 1:1000, but it still applies negative balance protection as part of its internal policy. Overall, clients of the Belize entity trade under a lighter regulatory umbrella in return for higher leverage flexibility.
• Scope Markets SA (Pty) Ltd is an authorized Financial Services Provider (FSP 47025) overseen by South Africa’s Financial Sector Conduct Authority (FSCA). The FSCA sits in the middle of the regulatory-quality spectrum: more stringent than many offshore commissions but less comprehensive than supervisors like the UK’s FCA. South African retail clients receive segregated fund protection, but there is no statutory compensation fund.
• SCFM Limited (Kenya) holds a Non-Dealing Online Forex Broker licence from the Capital Markets Authority, Kenya. While the CMA has tightened oversight in recent years and requires periodic financial reporting, there is no investor-compensation scheme, and leverage presently tops out at 1:400. The Kenyan licence is primarily attractive for local residents who want shilling-denominated accounts and M-Pesa funding while remaining under domestic legal remits.
• Scope Capital Markets Ltd and Scope Markets Global Limited are Scope Market’s last two entities, which are regulated by the Financial Services Commission of Mauritius (FSC) and the Financial Services Authority of Seychelles (FSA), respectively.

Across all entities, Scope Markets maintains segregated client accounts and applies negative balance protection. Only the CySEC firm offers a formal compensation scheme. US residents are not accepted, and citizens of certain high-risk jurisdictions (e.g., Iran, North Korea) are blocked entirely.

Here is a summary of Scope Markets’ regulatory oversight:

KYC Procedure for Account Creation and Depositing

Opening a live account with Scope Markets is an entirely digital process that can be initiated from any modern desktop or mobile browser. The application is divided into a range of logical steps that involve providing one’s personal details, a questionnaire, and a Know-Your-Customer process. The broker uses standard encryption protocols and a secure client portal to handle data transmission.

Here is an overview of what it takes to register at Scope Markets:

1. Login Credentials and Basic Information: Go to the broker’s website and click Open Account. In the CFD tab, provide your legal name, email, country of residence, and phone number. Then, create a strong password, agree to the broker’s Privacy Notice, and select Register.
2. Email Verification: Check your email’s inbox, as there will be an email from Scope Markets that includes your email verification link. Follow the said link, and you will be taken back to Scope Markets’ website.
3. Personal Information: Here, you will need to select your title, input your date of birth, select your nationality, clarify whether you are a national of another country, and provide your address.
4. Economic Profile: This step involves giving Scope Markets an overview of your education, employment status, savings and income, and the like. Once done, click Next
5. Education and Experience: What follows is a questionnaire that aims to determine your knowledge of the markets, as well as your trading experience.
6. Further Details: If you meet Scope Markets’ standards, you will be prompted to confirm that you are not a politically exposed person and that you do not reside in the US. Here, you can also choose whether to receive key information documents about the company’s financial instruments through an electronic form or a paper form. If you have read the broker’s terms, privacy notice, and other necessary pages, and are aware of the risks associated with CFDs, you can tick both and proceed.
7. Identity Verification: Finally, you will need to undergo Scope Markets’ KYC process and provide the requested documentation as instructed. Both proof of identity and proof of residence will be required. Once done, you will be able to open a live trading account.

Scope Markets quotes a timeframe of “within one working day” for document review. However, it also cautions that users may need to wait up to 48 hours on occasion.

Traders who are not eager to open a live account before trying out what the broker has to offer for free may open a demo account. Demo accounts can be created immediately after registering with your email and phone number.

In the EU, opening a professional account is also possible, but it requires that Scope Markets perform a professional client assessment. Moreover, traders must fit ESMA’s criteria when it comes to professional trading.

Account Types

Scope Markets groups its retail offerings into two core configurations:

• One Account: This is the classic zero-commission account where the FX trading costs are built into the spread.
• Plus Account: This account offers lower spreads than the former. In the EU, this account is also commission-free, but it has a far steeper minimum deposit requirement. Internationally, the broker offers a similar Scope Elite account that has an even higher deposit minimum, but trading involves spreads from 0.0 pips and a commission of $3.5 per lot per side.

Here is a detailed overview of the above-mentioned account types.

One Account

This account type comes with a minimum deposit requirement of $200 in Europe, making it a good option for beginner traders who are looking to try trading with a live account after practicing with demo funds. MT5 is the platform you can use if you open such an account, and you can pick between USD, EUR, and GBP in terms of the account currency. It covers the breadth of Scope Markets’ instrument offering, including but not limited to FX, cryptocurrencies, shares, and commodities. Average spreads start at 0.7 pips, and there is no commission (though this does not apply to CFD shares according to the broker), and micro lot trading is available. The stop-out level is set at 50%. Additionally, the leverage is capped at 1:30.

The benefits of this account, as outlined by Scope Markets, include:

• Competitive pricing
• No cap on the number of orders
• A dedicated account manager
• Personalized support
• 5-digit pricing

We should stress once again that the above applies to Scope Markets EU. At the broker’s offshore Belize entity, the minimum deposit is even lower at $10, but the average spread is a tad higher, starting from 0.9 pips. Both MT4 and MT5 are supported in this case, and the account currency selection includes AED. Forex trading is commission-free, but there is a $5 commission on futures and spot commodities, while shares involve a commission of up to 35%. Stop-out levels are also lower at 20%. Last but not least, traders may use leverage of up to 1:000.

* Does not apply to CFD shares
**Japan- 20%, Hong Kong- 35%, Canada- 4%, Belgium- 15%

Professional Account

As suggested by its name, this is the account designated for professionals who reside in Europe. It is better suited for experienced traders since it offers leverage of up to 1:200, and clients are granted access to a financial ombudsman service.

However, traders who open such an account waive their rights to safeguards like negative balance protection and eligibility for the Investor Compensation Fund, since users are expected to be knowledgeable and experienced enough to know what CFD trading entails in terms of risks. Scope Markets representatives will also assume that professionals are familiar with advanced financial terminology.

If you would like to create such an account, you would need to meet two out of three of the professional client requirements laid out in ESMA’s MiFID II:

• Trading Experience: The user needs to have placed at least 4 trades of significant size within the past year
• Investment Portfolio: One’s financial instrument portfolio must exceed €500,000
• Professional Experience: Traders may also qualify if they have professional experience in the financial field of no less than a year

Islamic Account

Muslims who are interested in FX trading but cannot open traditional accounts due to overnight rates can consider Scope Markets’ Islamic Account, which is available on the offshore entity. The product offering of this account type is modest, with only major FX pairs being available (AUD/USD, GBP/USD, EUR/USD, etc) and XAU/USD, i.e., gold.

Clients can open such an account by depositing at least $10, and they will have access to MT4 and MT5 accounts. Spreads start at 0.8 pips, while leverage cannot go beyond 1:1000. A $5 commission per lot per side applies, while the stop-out level is 20%. Most importantly, individuals who plan on opening such an account must keep in mind that the swap-free status only applies for three trading days per week. If you go beyond this threshold, you will incur or be paid interest.

Islamic accounts are also available to EU clients, but only upon request.

Demo Account

Scope Markets welcomes traders of all experience levels, and the Demo Account is what the brokerage offers to traders who would like to trade in a risk-free virtual environment. This account type is recommended if you are just starting out trading, seeing as you will be able to practice without losing real money. Demo accounts are also suitable for testing out trading strategies. As we covered earlier, it is very easy to open a demo account at Scope Markets since you do not need to verify your identity.

MAM and PAMM Accounts

Managed accounts are another perk of trading at Scope Markets, although they are exclusive to the offshore entity. The MAM (Multi-Account Manager) account is the first option, and it allows managers to control trading accounts and trade on their clients’ behalf through the Scope platform.

Some of the key features of MAM trading at Scope Markets include:

• STP and instant allocation
• Partial order close, pending orders, and full SL and TP
• No restrictions on trading styles
• Compatiple with expert advisors
• Real-time order management

Percentage Allocation Money Management (PAMM) accounts are available as well. Here, funds are pooled into a single account, and the Account Manager is the one who conducts the trades. Do note that you will need to pay performance fees to the manager for their services if you go with this option.

Here is an overview of what PAMM accounts have to offer:

• MT5 support
• Expert advisors
• Unlimited Investor Admission into Fund Pool
• Onbiardubg us aytinated

Scope Invest

Traders who are interested in trading fractional stocks through CFDs can consider Scope Markets’ Scope Invest account. This account features commission-free trading without swaps or financing costs, and the average spread minimum is 0.1 pips. Depositing requires that you fund your account with at least $10. The leverage is 1:1, while the stop-out level is 20%. This account is not available in Europe, however.

Other Account Types

As established, Scope Markets’ account offering differs depending on whether you are trading at the broker’s CySEC-licensed version or the one regulated by Belize’s financial watchdog. As the broker operates in a range of locations across the globe, its other entities also feature account types that may differ from the above. In Kenya, for example, accounts are split into:

• Silver: MT5-only, with USD being the sole account currency on offer. Deposits must stand at least $100, and spreads start from 1.1 pips. The leverage is higher at 1:400, and commissions (per lot per side) can go up to 35% for shares, while FX commissions are listed as $3.5. The stop-out level is 20%.
• Gold: Similar to the above, but the account currency available is KES, and minimum spreads are far lower at 0.2 pips.
• Scope Invest: This is an account type dedicated to fractional stocks. USD and KES are both supported in terms of currencies, spreads can go as low as 0.2 pips, and leverage is capped at 1:1. There are no commissions, and the minimum amount clients can deposit is $50.

All in all, you should carefully examine the account types available in your region and choose the one that best fits your trading experience, risk tolerance, and budget.

Trading Fees and Other Costs

One of the main factors you should consider if you are planning to trade forex with a given broker is its cost structure. Below, we have summarized the typical fees you will find at a given online brokerage:

• Trading Fees: This includes the spread, commissions, and swap fees
• Non-Trading Costs: The charges encompass deposit fees, charges on withdrawals, currency conversion fees, management fees, and costs charged for inactivity

As for Scope Markets, below, we offer a breakdown of the main costs users may encounter.

Spreads

Scope Markets publishes live, executable spreads on its website and inside the MetaTrader market watch window. The typical rate for EUR/USD on the Plus Account stands at 0.7 pips, slightly lower than the One Account spread of 0.9 pips.

If a price change of 1 pip is equivalent to $10, we can calculate the costs of trading EUR/USD as follows:

• Spread – 0.9 pips
• TOTAL COST – 0.9 x $10 = $9

Here, you can observe how the typical spreads compare between accounts:

Earlier, we commented on the lack of commissions with European Plus accounts. This means that trading EUR/USD with the above 0.7 spread, for example, will involve the following costs:

• Spread – 0.7 pips
• TOTAL COST – 0.7 x $10 = $7

When looking at how Scope Markets performs compares to other online broking firms, One Account spreads are generally in line with industry averages. EUR/USD’s spread is lower than certain competitors but a bit higher than others, and the same can be observed when it comes to other major popular pairs.

Last but not least, we should stress that if you are not a resident of the EU and trade with Scope Markets’ international branch, its lower spreads account (Scope Elite) does feature commissions of $3.5 per side, and spreads start from 0.0 pips. Therefore, if the EUR/USD spread manages to hit 0.0 pips, the costs would basically equal the commission.

• Spread – 0.0 pips
• Spread Cost – 0.0 x $10 = $0
• Commission – $3.5 ($7 round-turn)
• TOTAL COST PER SIDE – $0 + $3.5 = $3.5 ($7 round-turn)

If we compare the above to the minimum average spread costs for trading forex under similar conditions ($9), we can see that trading with Scope Elite accounts is cheaper overall.

Commissions

The commissions you may need to pay at Scope Markets are entirely reliant on your country of residence and which Scope Markets entity accepts traders from your area. European users will not need to pay any commissions when they trade forex, regardless of their account types, as Scope Markets bundles all relevant costs into the spreads.

The only instruments that involve commissions in the EU are shares. For US stocks, for example, the commission formula equals $0.04 per stock, and Scope Markets has provided the following example to illustrate the costs of a potential trade.

• Stock – Apple INC
• Size – 2
• Price – 125.05
• Contract Size – 1
• Account Currency – USD
• Notional Volume = Size x Price x Contract Size
• Commission Charge = 2 x 0.04 = $0.08

For UK Stocks, the commission formula equals 0.10%, and the example given can be seen below:

• Stock – Admiral Group PLC
• Size – 3
• Price – 3,130
• Contract Size – 1
• Account Currency – GBP
• Notional Volume = Size x Price x Contract Size
• Commission Charge = (3 x 3,130 x 1 x 0.10%)/100 = £0.094

*Stamp Duty of 0.5% applied only for buy trades

Last but not least, we have EU stocks, where the same commission formula as UK stocks applies:

• Stock – Allianz SE
• Size – 2
• Price – 201.55
• Contract Size – 1
• Account Currency – EUR
• Notional Volume = Size x Price x Contract Size
• Commission Charge = 2 x 201.55 x 1 x 0.10% = €0.40

* For French Stocks Financial Transaction Tax (FTT) of 0.30 % applied only for buy trades
* For Spanish Stocks Financial Transaction Tax (FTT) of 0.20 % applied only for buy trades

Outside of Europe, traders with Elite accounts at Scope Markets’ offshore brokerage will need to pay commissions of $3.5 per side when it comes to forex, while Islamic Account holders’ trades are subject to a $5 (per side) commission.

The One Account, meanwhile, does not impose commissions on FX pairs at the Belize-regulated entity, but a $5 charge applies to futures and spot commodities. Additionally, Share costs can reach 35%:

• Japan – 20%
• Hong Kong – 35%
• Canada – 4%
• Belgium – 15%

Financing Charges

Whenever you open a leveraged forex position and decide against closing it before the markets close for the day, you could be charged an overnight fee that is typically tripled on Wednesdays. This is essentially paying interest on the position. Alternatively, you may be the one paid interest if the position moves in your favor.

Scope Markets also applies swap rates on forex pairs and other instruments, which change on a daily basis. Below, you can view the swap rates that applied on December 9, 2025, for users utilizing the MetaTrader 5 platform at the Cyprus-regulated entity.

Rates like the above do not apply to Islamic accounts.

Deposit Fees

Scope Markets does not apply additional fees when it comes to deposits. For more information on deposits, see Deposit Methods.

Withdrawal Fees

There are no cashout fees at Scope Markets. This can be considered one of the brokerage firm’s perks, seeing as some trading brands do charge their clients for withdrawing funds from their accounts. For further details on cashouts, see Withdrawal Methods.

Inactivity Fees

The lack of inactivity fees at Scope Markets is another highlight. Typically, brokers will impose charges on dormant accounts once a trader has failed to log in and conduct trades after a certain period of time has passed, but there are no such costs at Scope Markets.

Overall on Fees

All in all, Scope Markets’ fee structure is more than reasonable. Its spreads are similar to those of competitors with some being lower, and the zero-spread accounts are either commission-free when it comes to forex, or involve a fair $3.5 fee per side. Moreover, there are no deposit, withdrawal, or inactivity fees, putting Scope Markets ahead of some of its rivals in terms of affordability.

Desktop Trading Platforms

Scope Markets’ platform line-up is streamlined to the MetaTrader family. At the offshore branch, both MT4 and MT5 are available as downloadable Windows and macOS executables. Other platforms include IRESS, Scope Copy, and Scope Provider. European traders, however, can only trade with MT5.

No proprietary desktop platform exists when it comes to ordinary trading, so individuals who prefer a bespoke interface must look elsewhere. Nevertheless, the near-universal familiarity of MetaTrader means most traders will be comfortable with Scope Markets’ platforms.

MetaTrader 4

MetaTrader 4 (MT4) was launched on July 1, 2005, and has established itself as the go-to trading platform among forex enthusiasts. It is available in multiple languages and remains popular with forex purists and algorithmic traders who rely on established Expert Advisor (EA) libraries.

The platform is suitable for trading CFDs on forex, shares, metals, indices, and more. It also includes 50+ indicators, 3 chart types, 4 pending order types, and 9 time frames. Micro, mini, and standard lots are supported. Other notable features that Scope Markets clients will appreciate include:

• One-click trading
• Historical data (import and export supported)
• Built-in strategy tester
• Automation
• MQL4 language
• Streaming news
• Internal mailing and notifications
• Fill-Or-Kill order fill policy

MetaTrader 5

This platform is the successor of MT4. Released in 2010, MetaTrader 5 (MT5) boasts a newer interface that is more in line with modern UI standards, and it suits multi-asset users because it natively supports share-CFDs, depth-of-market (DOM) displays, and an expanded order-type set (stop-limit, partial fills).

Charting on desktop offers up to 21 time-frames, 30+ built-in technical indicators, 4 order execution types, and unlimited custom scripts written in MQL5.

Other features that Scope Markets traders will be able to take advantage of include:

• 6 pending order types (VS MT4’s 4)
• 2 stop-order types
• Additional chart time frames
• Extensive selection of markets
• Built-in economic calendar
• EAs
• 46 graphical objects
• Strategy Tester for EAs featuring an Agent Manager
• Order fill policy – Fill-Or-Kill, Immediate-Or-Cancel, and Return

Scope Markets does not restrict hedging or EA usage. One-click trading, tick-chart visualization, and server-side trailing stops are enabled by default. For users who prefer social trading, the MetaTrader Signals tab allows following thousands of third-party strategy providers with real-time performance ranking.

IRESS

Scope Markets integrates the sophisticated IRESS platform to provide traders with a powerful, comprehensive environment for navigating the global financial landscape. The platform ensures that users have direct avenues to major exchanges and financial instruments. A core benefit is the provision of Direct Market Access (DMA) capabilities. This is underpinned by high-performance, resilient technology and optimized pricing streams.

Note that this platform is not available at the entity that is regulated by CySEC.

Scope Copy Trading

Scope Markets offers the Scope Copy platform as an ideal solution for individuals seeking to enter the financial markets or utilize a hands-off strategy without requiring extensive prior experience. This copy trading service allows users to seamlessly and automatically mirror the trading activities of seasoned professionals. The platform provides access to a vast and diverse selection of markets, allowing clients to engage in FX, indices, energies, metals, shares (including fractional stocks executed as CFDs), and futures.

Traders can actively choose which experts to follow based on their track records and desired investment criteria. Crucially, the platform includes flexible risk management tools, allowing copiers to personalize their risk settings after selecting a strategy provider.

Mobile Trading Platforms

Scope Markets relies on the native MetaTrader mobile applications, available for both Android (Google Play) and iOS (App Store). Installation takes seconds, after which clients log in using their trading-server credentials. The apps provide real-time quotes, interactive charts with nine time frames, 30 preloaded indicators, and push-notification support for price alerts and executed orders.

While mobile charting remains less versatile than desktop, the core functionality is adequate for order placement, position management, and quick technical checks. Biometric authentication (Face ID / Touch ID) and two-factor authentication via MetaQuotes one-time passwords add an extra layer of security. User feedback highlights the apps’ fast order execution and stable connection, though several reviewers note that drawing-tool manipulation on small screens can be fiddly.

Tradable Instruments

Scope Markets offers an instrument roster that covers the high-turnover segments most retail traders demand. In total, clients can access over 800 instruments, though the forex selection in particular is a tad lower than what we typically see at online brokerages. You can observe what Scope Markets has to offer as well as how its library compares to other popular brokerages below:

All in all, the breadth of instruments is adequate for active traders who focus on liquid instruments. However, it leaves several asset classes – notably bonds and options – off the table.

Forex

The FX line-up of over 40 pairs spans all major combinations such as EUR/USD, GBP/USD, and USD/JPY, as well as liquid crosses like EUR/GBP and AUD/JPY. A modest number of exotics like USD/ZAR, USD/MXN, and USD/TRY provide regional diversification, although spreads widen significantly. Maximum retail leverage is 1:30 for EU retail clients and up to 1:1000 when it comes to Scope Markets’ offshore operations.

All forex products trade Monday through Friday, 24 hours a day, with no dealing-desk intervention, according to the broker. Price execution is routed to multiple liquidity providers.

Indices

The broker’s 14 equity index CFDs include mainstream benchmarks such as the Dow Jones 30, S&P 500, NASDAQ 100, FTSE 100, DAX 40, and Japan 225. Traders can also access the VIX volatility index and a small selection of sector indices. Contract specifications employ cash-settled CFD models with no expiry and automatic rollover of financing costs into the spread.

Leverage tops out at 1:1000 (offshore) for major indices, while minor indices’ leverage cannot go beyond 1:100. In Europe, retail major and minor index leverage caps stand at 1:20 and 1:10, respectively.

Share CFDs

With roughly 770 shares across the NYSE, NASDAQ, London Stock Exchange, key European bourses, and more, Scope Markets enables short-term plays on highly liquid blue chips like Apple, Amazon, Tesla, and the like. The brokerage also features 1,000+ US, UK, and EU stocks for long-term investment.

Share-CFD leverage is capped at 1:5 in the EU and 1:10 offshore. Dividends are credited or debited on the ex-div date, and you can find a dividends calendar on Scope Markets’ website.

Commodities

Gold and silver against the US dollar, XAU/EUR, WTI, Brent crude, and natural gas make up nearly half of the commodity roster. Soft commodities such as sugar and coffee are also among the available options. Commodities settle as cash CFDs with daily financing.

The leverage caps are dependent on the instrument type and the broker’s regulatory oversight:

Cryptocurrencies

Scope Markets lists eight crypto pairs, including BTC/USD, ETH/USD, LTC/USD, and XRP/USD. While the selection covers a range of major cryptocurrencies, it still pales in comparison to the crypto offerings of most online brokerages.

Leverage is restricted to 1:2 for non-professionals in Europe. It should also be noted that cryptocurrencies are only available in the CySEC-regulated entity.

ETFs

Exchange-Traded Fund, known as ETFs, can also be traded at Scope Markets. An ETF is an investment vehicle that pools together a diverse basket of securities, such as shares or fixed-income assets, often numbering in the hundreds or even thousands.

Scope Markets offers dozens of ETFs to its customers, including the iShares S&P 500 Value ETF, Vanguard Energy ETF, Mitsubishi UFJ Japan Physical Gold ETF, and more. The trading volumes start at 0.01 and can reach 1,000.

The commission formula equals $0.04 per ETF, and the following example has been provided to illustrate the costs of a given trade:

• Stock – MSCI ETF
• Size – 2
• Price – 75.4
• Contract Size – 1
• Account Currency – EUR
• Notional Volume = Size x Price x Contract Size
• Commission Charge = 2 x 0.04 = $0.08

What You Cannot Trade

While Scope Markets’ instrument library will suit the preferences of the vast majority of traders, there are a few markets that the broker does not cover. These include:

• Bond CFDs or government treasuries
• Options
• Physical shares for delivery

If you are interested in trading any of the above, you will need to consider an alternative broking firm.

Trade Execution

Scope Markets utilizes the Straight-Through-Processing (STP) model. Client orders are routed to a pool of liquidity providers, and there is no dealing desk intervention. The broker advertises fast, real-time trade execution, no requotes, and minimum slippage. In 2023, Scope Markets earned the “Best Trade Execution” from the Global Forex Awards (Africa).

In Europe, the execution policy at Scope Markets is comprehensively governed by CySEC and the MiFID II regulatory framework, establishing a clear commitment to acting in the client’s best interest. In terms of pricing, the company quotes distinct bid and ask prices to determine the execution level for different order types, with the spread forming the difference. Costs such as swaps and commissions are charged explicitly and disclosed on the platform.

The firm seeks to deliver high execution speed but cautions that performance can be limited by technology and client-side connection issues. The likelihood of execution is influenced by third-party liquidity providers and can be reduced during periods of market volatility, news events, or low liquidity. Additionally, the order size and market impact are taken into account.

Traders who have registered at the entities licensed by Belize’s financial watchdog or the CMA (Kenya) can also utilize the IRESS platform. It acts as an advanced, end-to-end system, ensuring a seamless experience from trade initiation to settlement across diverse global markets. The platform’s core is built on Direct Market Access (DMA) capabilities, offering full control and superior transparency to the user.

Deposit Methods

Scope Markets supports USD, EUR, GBP, AED, ZAR, and KES as base account currencies, allowing many clients to avoid costly double conversions. Deposits can be made via Visa, Mastercard, and bank transfers if you reside in Europe. Traders who can create accounts at the broker’s offshore entity have a wider selection of methods to pick from, including but not limited to Neteller, Skrill, bank cards, bank transfers, and Union Pay. Region-exclusive payment networks such as M-Pesa (Kenya) are also available in their respective jurisdictions.

EU-based traders cannot make deposits of under $200. The international entities, meanwhile, allow clients to make deposits starting at $10, $20, or 500 ZAR.

The vast majority of options boast instant transactions, but international bank wire as well as bank transfers can take between 3 and 5 days. Here is an overview of the available deposit solutions, but we must once again reiterate that their availability is dependent on one’s country of residence:

Withdrawal Methods

Withdrawals are processed back to the original funding source as per anti-money-laundering best practice. Clearing times vary depending on the payment method, with bank transfers and bank cards taking up to 5 business days, while cashout requests via digital wallets are processed instantly. Local bank transfers at the Belize-headquartered brokerage have estimated wait times of up to 8 hours.

Just like deposits, withdrawals are fee-free. Cashout amounts start at $100 in the EU and $50 when it comes to most other regions.

Customer Support Contacts

When trading, it is always best to have peace of mind that if something goes wrong, you will be able to reach out to a competent and helpful customer support team. Scope Markets operates a support desk that can assist clients from Europe, a range of jurisdictions at the offshore entity, Kenya, and South Africa. Support is available 24/7 through various channels:

1. FAQs: Scope Markets’ FAQ page features key information on the broker’s regulatory status, available accounts, transactions, verification process, and more. You can find this page by hovering over the More button on the broker’s website, and it is listed under the Education menu.
2. Live Chat: Chat is accessible directly from the website and the client portal. In our experience, average response time stands at under 4 minutes, and support agents are polite and quick to answer questions and resolve issues.
3. Telephone Lines: If you would prefer to get in touch with someone over the phone, Scope Markets offers this option. The available phone lines include:
   • Europe: +357 25 281811
   • South Africa: +27 (21) 141-5312
   • Kenya: +254 20 5005100; +254 730 831 000
   • International: +44 20 3051 6959
4. Email: Email is another way you can contact a representative of Scope Markets’ support team. There are different options you can submit email tickets through, depending on which Scope Markets entity you have registered with.
   • Europe: support@scopemarkets.eu
   • Kenya: support@scopemarkets.co.ke
   • South Africa: support@scopemarkets.co.za
   • International: support@scopemarkets.com

Research and Educational Materials

A broker’s educational library can be of crucial importance to traders who are just starting their trading journey, while adequate research solutions can aid traders when it comes to technical and fundamental analysis. Unfortunately, Scope Markets’ performance is lacking in both departments.

Research

Scope Markets’ research offering is made up of an Economic Calendar that is updated on a regular basis. Clients can choose to enable sound alerts and customize the calendar’s interface depending on the type of information they wish to see.

The absence of in-depth macro reports, video briefings, or proprietary quant tools means serious research-driven traders will likely supplement Scope Markets’ materials with external resources. It is also worth noting that Scope Markets appears to have run a blog that used to feature news on a regular basis, but it appears it is no longer updated.

Education

The educational library consists of a single page that contains an overview of what CFDs are, as well as the basics of forex. There is technically an FAQ page as well, but the bulk of its content has to do with the broker itself.

Security and Money Guarantees

All client funds are held in segregated trust accounts at reputable banking institutions, and the segregation arrangement prevents Scope Markets from using users’ money for operational expenses. In the unlikely event of insolvency, retail clients of the CySEC entity have recourse to the Investor Compensation Fund up to €20,000.

Negative balance protection is hard-coded at the server level, so margin calls liquidate positions before equity dips below zero. There is no mention of two-factor authentication on the broker’s website, but MetaTrader’s one-time-password generator reduces account-takeover risk.

Conclusion

Scope Markets slots neatly into the “solid mid-tier” bracket of CFD brokers. For traders who are comfortable with MetaTrader and want reasonable spread pricing, the broker delivers value. EU-based clients benefit from CySEC oversight and standard MiFID protections, while higher-leverage seekers can trade at the African or offshore entities, accepting the trade-off of lighter statutory safeguards.

The broker’s strongest features are its competitive FX pricing, efficient digital onboarding, and responsive support. The selection of markets is decent. Its main weaknesses are the absence of Tier-1 regulation, limited research depth, and the meager content it offers in terms of education.

Overall, Scope Markets is well-suited to moderately experienced forex and index CFD traders who prioritize cost, platform familiarity, and straightforward account management over bells-and-whistles research portals. Total beginners may crave richer educational resources, and ultra-cautious investors might prefer a broker with an FCA or ASIC licence.

Written by E. Ifeanyi