Scope Markets Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Scope Markets is a financial services company that was established in 1997 with its headquarters in Belize. It offers CFD trading on Forex, Stocks, Indices, Commodities, and Cryptocurrencies on its platforms. Our 2024 Scope Markets review covers the broker’s account types, trading apps, leverage, fees & commissions, spreads, and fund safety protocols. 

Regulated By

FSC

Used By

1,000,000+ users

Established in

1997

Visit Broker

74% of retail traders lose money

Spreads From

EURUSD 0.9 pips

What Can You Trade on Scope Markets?

  • Stocks
  • ETFs
  • Forex
  • Commodities
  • Indices
  • Crypto

Scope Markets Platforms

DesktopMobileMT4MT5

Scope Markets Funding Methods

SkrillVisaWire TransferMaster CardNeteller

Scope Markets Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Scope Markets is a financial services company that was established in 1997 with its headquarters in Belize. It offers CFD trading on Forex, Stocks, Indices, Commodities, and Cryptocurrencies on its platforms. Our 2024 Scope Markets review covers the broker’s account types, trading apps, leverage, fees & commissions, spreads, and fund safety protocols. 

  • author Adesuwa Ebuehi
  • Last updated 13/02/2024

74% of retail traders lose money

Regulated By

FSC

Used By

1,000,000+ users

Established in

1997

Spreads From

EURUSD 89 Points

Platforms

DesktopMobileMT4MT5

What Can You Trade?

  • Stocks
  • ETFs
  • Forex
  • Commodities
  • Indices
  • Crypto

Funding Methods

SkrillVisaWire TransferMaster CardNeteller
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Assets: Stocks, Indices, Forex, Commodities, Cryptocurrencies & ETFs
CFD: YES
Min Deposit: $10
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78% of retail investors' accounts lose money.

Summary

Scope Markets is a fast-growing brokerage company that provides its clients with access to stocks, indices, forex, commodities, and cryptocurrencies. It also offers margin trading on these assets with leverage up to 1:2000 on some instruments. However, the broker does not offer non-CFD instruments such as real shares.

This Scope Markets review offers you an in-depth look into the broker’s services. Here, we discuss its trading platforms, spreads, deposit and withdrawal methods, customer service, and fees. We also examine the various account types and let you in on what its users are saying on Reddit, Quora, TrustPilot, and ForexPeaceArmy.

The homepage of Scope Markets.

Pros

  • Compatible with MT4 and MT5
  • Regulated by the FSC
  • Commission-free Broker
  • Islamic Account Available
  • Live Chat Option Available

Cons

  • No Real Shares
  • Relatively Few Assets Compared to other Brokers

Available Assets at Scope Markets

This broker provides several CFD trading instruments, including 70+ currency pairs, 1,550+ stocks, 12+ indices, 10+ cryptocurrencies, 7+ commodities, and 10 futures. Unfortunately, at the moment, the broker’s assets listing is relatively small compared to several other brokers, as it does not offer bonds, options, or real shares. This section of our Scope Markets review will provide you with insights into each of the broker’s available assets and state the maximum leverage on these instruments.

The available assets at Scope Markets.

Stocks

Scope Markets offers 1,550+ share CFDs on its platform. Clients will be able to speculate on the prices of stocks such as AAPLUS, ABNBUS, COINUS, and FUS from various companies across different countries in Europe and the United States. Maximum leverage on shares with this broker is 1:20. 

Shares on Scope Markets.

Indices

In addition to stocks, Scope Markets also provides customers with 12+ indices, including well-known instruments like NAS100, DAX40, CAC40, and AEX25. The maximum leverage varies depending on the specific instrument being traded. However, clients can enjoy leverage up to 1:2000 on some assets. 

Indices on Scope Markets.

Forex

Scope Markets’ currency pairs listing is quite extensive. It consists of 70+ assets, including major, minor, and exotic pairings. Customers who trade this asset will have access to a maximum leverage of 1:2000 on pairs such as AUD/CAD, EUR/USD, and GBP/USD. 

Forex on Scope Markets.

Commodities

This broker also has 7+ commodities, broadly divided into Energies and Metals. There are 5 metals available on Scope Markets, including XAU/USD, XAU/EUR, and XAGUSD. Furthermore, the maximum available leverage on metals is up to 1:2000. Energies listed by this broker are Spot Brent Oil, Spot Crude Oil, and Spot Natural Gas. The highest available leverage with this asset is 1:2000.

Commodities on Scope Markets.

Cryptocurrencies

Scope Markets allows users to trade 10+ cryptocurrency CFDs on its proprietary trading platform for desktop and mobile. Clients will be able to trade popular coins such as Bitcoin, Ethereum, Litecoin, Ripple, and Dash.  The maximum leverage on cryptocurrencies is 1:10. 

Cryptocurrencies on Scope Markets.

Futures

This broker offers 10 futures on its platform. Traders can place orders for any of these instruments, including Crude Oil, Gold, Silver, Brent Oil, Natural Gas, or Dax Index Futures. The leverage on this asset varies. However, clients of this broker will be able to enjoy leverage up to 1:100 on some instruments. 

Futures Trading on Scope Markets.

Stocks Trading at Scope Markets

Scope Markets offers a large number of share CFDs on its platform. Unfortunately, the broker currently does not allow users to own and trade real shares. Opening an account will give you access to 1,550+ CFD stocks from the United States, France, Germany, Spain, the United Kingdom, and the Netherlands. 

As part of our review, we list all the available stock exchanges this broker offers and explain all Scope Markets fees and commissions related to stock trading.  

Stocks Trading on Scope Markets.

Available Stock Exchanges at Scope Markets

As explained above, this broker only offers share CFDs. Here, we outline the stock exchanges that clients of Scope Markets can access via their various platforms. 

CountryAvailable Stock Exchange
United StatesNASDAQ
New York Stock Exchange (NYSE)
FranceEuronext Paris
GermanyFrankfurt Stock Exchange
SpainBolsa de Madrid
NetherlandsEuronext Amsterdam
United KingdomLondon Stock Exchange
Hong KongHong Kong Stock Exchange
ItalyBorsa Italiana
SwitzerlandSIX Swiss Exchange
IrelandEuronext Dublin
SwedenStockholm Stock Exchange 
DenmarkCopenhagen Stock Exchange 
FinlandNasdaq Helsinki
NorwayOslo Stock Exchange 
PortugalEuronext Lisbon

Stock Trading Fees & Commission at Scope Markets

Stock trading with Scope Markets is commission-free. There are no additional costs to buying or selling shares with this broker as they only profit from the spreads on this asset. 

Stock Trading Leverage at Scope Markets

Individuals who wish to purchase stocks with this broker will be able to hold long or short positions and engage in margin trading. Clients will have access to leverage of up to 1:20 on all the listed shares on Scope Markets’ trading platforms. 

Scope Markets Regulations

Scope Markets is a regulated broker. It is licensed to operate solely by the Financial Services Commission of Belize (FSC). In this section of our review, we outline all its subsidiaries, office address, and any other registration information.

RS Global Ltd.: This entity is the only subsidiary of Scope Markets. Its office address is  6160, Park Avenue, Buttonwood Bay, Belize City, Belize. Furthermore, they are authorised and regulated by the Financial Services Commission of Belize (FSC).

  • FSC Licence Number: 000274/394 and 000274/393
  • Registration Number: 000005695

Scope Markets Fees and Commissions

Customers who open an account with this broker will not be required to pay any commission, regardless of the CFD instrument they choose to trade. However, there are other charges that clients will incur as they use Scope Markets’ trading platforms. This section of our review explores all these fees in greater detail.

Fees and Commissions on Scope Markets.

Trading Fees

Trading fees with this broker include spreads and swaps. Both costs are explained below.

Spreads

The broker charges spreads on its various CFD assets. Scope Markets spreads tend to vary depending on several factors, including the type of asset being traded. However, the average spread with this broker can be as low as 0.9 pips.

Overnight Fees

Clients who hold positions overnight will also be charged a swap or overnight fee. For cryptocurrency positions and USD/TRY, this swap rate is increased three-fold on Thursdays. However, other instruments also experience a three-fold increase in fees for overnight positions that are still open on Wednesdays. 

Non-Trading Fees

In addition to the trading fees listed in the above section, users of this broker will also incur some non-trading costs, such as withdrawal and currency conversion fees. 

Withdrawal Fees

All Scope Markets clients are entitled to one free withdrawal per day. However, subsequent withdrawals will attract a fee of 35 USD/EUR/GBP, depending on the client’s account base currency. 

Currency conversion Fee

Individuals who wish to engage in a trade that requires a different denomination than their account base currency will be charged a currency conversion fee.

Account Types at Scope Markets

Scope Markets only offers three account types – Demo Account, One Account, and Islamic Account. Below, we review each of these account types and highlight any unique features that they offer.

The standard account on Scope Markets.

Demo Account

This broker offers clients the opportunity to get familiar with their trading platform and develop their trading strategy without the fear of losing real money. Customers who open a Demo Account will be given a virtual balance of $50,000 to trade with. Scope Markets’ Demo Account expires after 14 days.

One Account

The One account is the main retail account option provided by Scope Markets. Users who opt for this account type will enjoy spreads as low as 0.9 pips on specific assets. They will also be granted perks such as a dedicated account manager, personalised support, and a free premium signals package.

Islamic Account

Islamic Accounts are similar to the One account. The only difference between both options is that Islamic accounts do not charge a swap fee. 

Scope Markets Trading Platforms

Scope Markets offers an exclusive trading platform, Scope Trader, which is available to mobile and desktop users. They are also compatible with other well-known third-party platforms such as MetaTrader 4 and MetaTrader 5. This segment of our Scope Markets review covers the features of the broker’s trading applications. Here, we also provide a detailed guideline on how users can open an account and begin trading on the Scope Trader platform.

Trading platform on Scope Markets.

Scope Markets Desktop Trading Platforms

Customers who wish to trade on their desktop with this broker’s proprietary trading platform will be able to do so by logging into their account on the Scope Trader web application. Below, we discuss some of this app’s features and how you can open an account and get started with Scope Markets on your desktop. 

The Desktop Platform on Scope Markets, Scope Trader.

User Interface

This web app has a straightforward user interface. Customers can place orders and execute trades with only a few clicks. 

The user interface of the desktop trading platform.

Design

Scope Trader is very beginner-friendly. Also, users who are familiar with MT4 and MT5 will have no challenges switching to this proprietary platform.

The design page of the Scope Markets Desktop Platform.

Charts and Indicators

There are several indicators available for clients to analyse the charts on Scope Trader for desktop. It also provides Geometric, Linear, Fibonacci, and Poly drawing tools. 

The charts and indicators on Scope Markets Desktop Platform.

Watchlists

The watchlist feature allows users of this broker to aggregate and monitor several instruments in a single view. Clients can keep tabs on as many assets as they wish before placing an order. 

Watchlist feature on the Scope Markets Desktop Platform.

How to Open an Account on Scope Trader

  1. Visit www.scopemarkets.com and click on ‘Start Trading Now.’ The sign up button on Scope Markets.
  2. Enter your name, email address, phone number, and country of residence. The registration page on Scope Markets.
  3. Fill out the rest of your personal information. The personal information page on Scope Markets.
  4. Verify your email address. The email verification page on Scope Markets.
  5. Answer some questions regarding your financial status. The financial information page on Scope Markets.
  6. Answer some questions to determine your level of trading experience. The trading knowledge and experience page on Scope Markets.
  7. Grant consent for the processing of your biometric data. The biometric data page on Scope Markets.
  8. Upload a picture of your passport or any valid government-issued ID. The identity verification page on Scope Markets.
  9. Once your registration is complete, you will be able to make a deposit. Select Deposit from the dashboard and indicate how much you wish to add to your account, and choose your preferred funding method. The Scope Trader Dashboard.
  10. Next, you will be provided with your login credentials. Go to trade.scopemarkets.com  and enter your ID and password to begin trading. The sign in page on Scope Trader.

Scope Markets Mobile Apps

The Scope Trader Mobile App enables traders to monitor and place orders for their preferred assets on their mobile devices. Let us take a look at some of the distinct features provided by this app and outline how you can register your account and start trading on it. 

The download page of the Scope Trader Mobile App.

User Interface

The user interface of the Scope Markets app is intuitive and excellent for beginners and experienced traders alike. 

The user interface of the Scope Trader Mobile App.

Design

The design of the mobile app makes it easy for clients to navigate and find any feature they require without much stress. All the icons are very descriptive, and there are four tabs – Market, Positions, History, and Menu – which deal with only essential functions. 

The Scope Trader Mobile App Design.

Charts and Indicators

Scope Trader’s charting tools are advanced, and they offer various indicators, including Bollinger Bands, Moving Averages, and RSI. Clients can also view their charts from various timeframes, as far back as 1 week.  

Charts and indicators on Scope Trader Mobile App.

Search

The search feature makes it easy for users to find any instrument from Scope Markets’ list of available assets. 

The search page on Scope Trader Mobile App.

How to Open an Account on Scope Trader App

  1. Go to www.scopemarkets.com and select ‘Start Trading Now’ to begin the account opening process. The Scope Markets mobile platform homepage.
  2. Fill out all the personal information requested, including your name and email address. The Scope Markets mobile platform registration page.
  3. Next, you will be directed to a dashboard where you will be required to fill out your personal details, validate your email, provide proof of your trading knowledge, and upload an ID. The account application page on Scope Markets mobile platform.
  4. After verification of your credentials, select Wallet and then Deposit from the dropdown menu to fund your account. The dashboard of the Scope Markets mobile platform.
  5. Your login credentials will be displayed in the Account Information section of your dashboard. The login page on Scope Markets mobile platform.
  6. Visit your device’s app store and download the Scope Trader app. 
  7. Enter your login credentials and begin trading. The sign in page on the Scope Markets mobile platform.

Scope Markets Payment Methods

There are several options for clients who wish to make deposits and withdrawals at Scope Markets. Here in this review, we will provide you with insights into the various payment methods available with this broker as well as their processing times and any related deposit or withdrawal fees. 

The payment methods on Scope Markets.

Deposits

Scope Markets allows deposits via Wire Transfer, Skrill, Neteller, and Credit cards. Furthermore, the broker does not accept deposits from third-party accounts. Processing times for funding typically vary depending on the method used. While Skrill and Neteller are processed almost instantly, Wire transfers may take between 3 – 5 business days. Scope Markets does not charge a deposit fee. However, it has a minimum deposit amount of $100. Below, we list all the funding methods provided by Scope Markets and their processing times.

Payment MethodProcessing Time
Wire transfer3 – 5 business days
Credit cardWithin 24 hours
NetellerInstant
SkrillInstant

Withdrawals

Clients can also retrieve their funds via the method initially used to make a deposit. The minimum withdrawal amount on Scope Markets is 50 USD/EUR/GBP. Customers can request a withdrawal as many times as they wish. However, they are only entitled to one free withdrawal per day, after which subsequent requests will attract a 35 USD/EUR/GBP fee. 

Account Base Currency

Clients can only open Scope Markets accounts denominated in USD, EUR, or GBP.

Scope Markets Research and Education

Scope Markets’ educational resources can be considered limited compared to many of its competitors. The broker does not offer e-books, podcasts, or video tutorials for beginners to learn the basics of investing and other essential trading concepts. It only provides a blog that publishes weekly market forecasts and other relevant news to help traders make better informed decisions.  

Traders who use Scope Markets will have access to resources to simplify their trading experience. This broker provides a pip calculator, margin calculator, swap calculator, and profit calculator to help newbies and advanced traders save time and focus more on their trading. Finally, it also provides customers with an economic calendar and a dividend calendar.

The Education and Research page on Scope Markets.

Scope Markets Customer Services

Scope Markets’ customers can request support when they run into challenges while using the platform via different means. This broker provides a live chat feature that enables clients to communicate directly with a representative on the website. Users can also send an email to customerservice@scopemarkets.com or speak to an agent by dialling +44 2030 516959. 

In addition to the methods listed above, Scope Markets clients can reach them by sending a message on any of their official pages across various social media platforms. You can forward your complaints to this broker via Twitter, Telegram, Linkedin, Facebook, and Instagram

The Contact Us page on Scope Markets.

Scope Markets Online Reviews

As part of our Scope Markets review, we explore various online forums and websites to know what users of this broker have to say about its services. Here, we provide you with a summary of comments about its services from users on Reddit, Quora, TrustPilot, and ForexPeaceArmy.

What Reddit Users Say About Scope Markets

Despite using various search queries, we couldn’t find any user comments related to Scope Markets on Reddit.

The comment of Reddit users about Scope Markets.

What Quora Users Say About Scope Markets

Like Reddit, we also canvassed Quora posts for client remarks of this broker. Unfortunately, there were no discussions about Scope Markets services or its trading platform on the website.

Quora users' feedback about Scope Markets.

TrustPilot Users’ Review About Scope Markets

Scope Markets has a rating of 4.1 out of 5 on TrustPilot. However, this rating is based on just 5 reviews. Most comments praise this broker’s customer service for providing prompt and relevant solutions to their complaints. Others also have positive things to say about their ease of withdrawal and tight spreads. 

Trustpilot review page on Scope Markets.

 

ForexPeaceArmy Users’ Review About Scope Markets

On ForexPeaceArmy, Scope Markets has an average rating of 1.633 out of 5 from 12 reviews. Opinions of this broker on this website are very divergent. While some users highlight their excellent customer service, a wide range of instruments, and tight spreads as a significant advantage, others expressed very strong concerns. One user claimed that Scope Markets failed to pay his/her profits, and another individual complained that the broker’s servers were unreliable. 

The review page of Forexpeacearmy on Scope Markets.

Other Products and Services

Scope Markets also offers additional products and services which have not been discussed in the earlier sections of our review. Below, we outline any other benefits or features that are available to users of this broker. 

The other products and services offered by Scope Markets.

Scope Prime

Scope Prime is the broker’s unique offering for institutions, including banks, funds, and prop firms. It is also available to asset managers. Scope Prime provides real-time access to market data and securities-based lending. 

Clients who use this service will enjoy an integrated, multi-platform product that provides perks such as increased risk management and better savings. Furthermore, with securities-based lending, companies can have access to lower interest rates and credit limits as high as 80% of their portfolio’s value. 

The Scope Prime page on Scope Markets.

Partnership Program

Scope Markets allows individuals to receive rewards and grow their income by signing up to become a partner. Partners have access to a dedicated account manager and rebates. There are various packages – Bronze, Silver, Gold, and Platinum – based on a client’s initial deposit amount. Depending on your specific package, you will have access to an IB portal, higher rebates and volumes, and premium merchandise. Rebates under this program can be based on volumes or CPA. 

The partnership program page on Scope Markets.

Scope Copy

Scope Copy is Scope Markets’ copy trading platform. Traders who use this service will have access to many other traders and be able to replicate their trades. On this platform, clients of this broker can review the performance metrics of their contemporaries and copy the trades of the best-performing traders while determining their risk size and how much they wish to invest.  

The Scope Copy page on Scope Markets.

Is Scope Markets Safe?

Scope Markets’ safety protocols provide clients with a guarantee that their funds and personal information are safe from compromise by third parties and cyberattacks. This broker is regulated by the FSC. Its website is also SSL-encrypted, and the cashier is PCI Level 1 Merchant Compliant. This means that user data is well-protected. Finally, Scope Markets offers negative account balance protection for individual accounts. 

Bottom Line

Scope Markets is a CFD broker that offers users the opportunity to trade up to 1000 assets, including forex, stocks, commodities, cryptocurrencies, futures and indices. A major advantage of trading with this company is that it does not charge any commissions for orders placed on its platforms. It also provides customers with several educational resources to enable them to improve. Unfortunately, our Scope Markets review could not highlight many user comments about this broker as it does not appear to be popularly discussed on many websites and forums.

Q & A

Yes, Scope Markets is a legit broker.

No. The broker is only regulated by one entity – the FSC.

To log into your account, go to the broker’s website, click on ‘Login’ and proceed to type in your email and password.

Unfortunately, the broker does not offer real shares.

No, Scope Markets does not charge a commission on stocks or any other asset.

The minimum spread on the broker is 0.9 pips.

Leverage on Scope Markets’ crypto depends on the specific instrument. However, clients can enjoy leverage up to 1:10 on BTCUSD and up to 1:4 on other available cryptocurrency CFDs.

To open a demo account, visit the broker’s website and click on ‘Register.’ Upon completing the registration steps, click on ‘New Demo Account’ from the broker’s client dashboard.

Unfortunately, the broker does not offer an ECN account.

Log into your account and select ‘Download MT4’ from your dashboard.

Yes, you can trade stocks on the broker’s MT5.

The broker’s minimum deposit is $100.

To withdraw your funds, select Wallet from the dropdown menu or sidebar of the Scope Markets portal and click on withdraw.

Scope Markets only trading fees include spreads and an overnight fee for positions held till the next day.

The broker’s reviews are mixed. Many users are divided about their opinions of its services.

Yes, you can trade all the assets the broker offers on the mobile app.

Scope Markets is relatively good for beginners because it has an excellent proprietary trading platform.

Yes, it does. The broker provides a copy trading service known as Scope Copy.