Scope Markets is a regulated online trading broker that offers online trading services to retail and institutional traders across Europe. Clients get access to trade various global markets, including shares, indices, forex, commodities, and CFDs, through the powerful and sophisticated MetaTrader 5 trading platform (MT5). The broker states that it is a client-oriented company that understands what traders are looking for, including fast execution, minimum slippage, and tight spreads, and they offer a 24/5 dedicated customer support team.
Scope Markets Review Introduction
In this Scope Markets review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Scope Markets.
Scope Markets Platforms & Tools
The broker provides clients with the powerful MetaTrader 5 trading platform, which is a leading multi-asset platform designed to deliver a next-level trading experience with enhanced technical analysis tools, automated trading systems, and advanced trading features. MT5 is an all-in-one trading platform appealing to clients of all experience levels who are interested in trading forex, stocks, and CFDs.
Scope Markets offers the MetaTrader 5 trading platform as a desktop application for Windows and Mac computers, WebTrader that can run directly on most modern web browsers, and a mobile app that is compatible with Android and iOs devices. The mobile app can be downloaded from the respective app stores.
The broker’s website has an Economic Calendar, which shows upcoming news events, releases, reports, and announcements that could move the markets.
Scope Markets Research & Education
Scope Markets provides traders with some free educational materials. The broker has a multimedia trading library with videos covering a variety of topics, such as market analysis and trading platforms. The complete video library can be accessed via the broker’s YouTube channel.
Scope Markets Trading Accounts
The broker offers a variety of trading accounts to choose from, and the required minimum deposit is $200, with no hidden fees or charges. The spreads are competitive but marked up on 2/3 of the accounts, while the leverage ranges from 1:5 to 1:30. The available account types include Standard, Gold, Platinum, and Corporate accounts. They also offer a swap-free Islamic account that complies with sharia law. Demo accounts are also provided for practice purposes.
Scope Markets Account Funding
Scope Markets only accepts deposits and withdrawals by Bank Transfers. The broker does not charge any fees for deposits or withdrawals. Withdrawal requests are processed within the same day or next if outside working hours and funds can take between 3 to 5 days to clear. Accounts can be opened in USD, EUR, and GBP; the different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Scope Markets Customer Service
Scope Markets provides traders with a dedicated customer support team that is available 24/5 and can be reached via online chat, telephone, and email. There is also a FAQ section on the broker’s website that covers some of the more commonly asked questions and the answers for each question.
Scope Markets Regulation
Scope Markets is operated by SM Capital Markets Limited, a company registered in Cyprus and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Scope Markets Review Summary
Overall, Scope Markets is a regulated online trading broker that provides EU clients with a basic online trading service via the powerful MetaTrader 5 trading platform. The spreads are competitive, and the minimum account balance is $200 with up to 1:30 leverage. They have some educational materials.
It is worth mentioning that some of the trading products and services in this Scope Markets review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Scope Markets broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.