Scope Markets Forex Broker
Basic Information
Belize
5-10 years Regulated in Cyprus Regulated in Seychelles Regulated in South Africa Regulated in Belize Straight Through Processing (STP) Retail Forex License Financial Service Corporate Common Financial Service License MT4 Full License MT5 Full License Suspicious Overrun High potential risk Offshore RegulatedCompany profile
Rating Index
International Bank Transfer
Neteller
Scope Markets Forex Broker - Complete Information Guide
1. Broker Overview
Scope Markets, officially known as Scope Markets Ltd, was established in 2016. The company is headquartered in Belize, with additional operations in Cyprus under the name SM Capital Markets Ltd. As a private entity, Scope Markets focuses on providing financial services to both retail and institutional clients globally.
Over the years, Scope Markets has developed a reputation for offering diverse trading solutions, catering to a wide range of traders, from beginners to seasoned professionals. The company has achieved several milestones, including the launch of its proprietary trading platforms and a commitment to customer support and education. As part of the Rostro Group, Scope Markets benefits from a robust financial services network, which enhances its operational capabilities and market reach.
The broker operates on a Straight-Through Processing (STP) model, ensuring that trades are executed without dealer intervention, thereby providing a transparent trading environment. This business model is designed to meet the needs of various market participants, including retail traders and institutional clients.
2. Regulation and Compliance Information
Scope Markets is regulated by two primary authorities: the International Financial Services Commission (IFSC) in Belize and the Cyprus Securities and Exchange Commission (CySEC). The IFSC license number is IFSC/60/373/TS/19, while the CySEC license number is 339/17. The regulatory oversight from CySEC provides a higher level of trust and security, as it adheres to stringent European standards.
The broker implements a series of compliance measures, including Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, ensuring that all client information is verified and secure. Client funds are kept in segregated accounts, providing an additional layer of protection. However, it is important to note that the IFSC is considered a less stringent regulatory body compared to other major jurisdictions, which may raise concerns for some investors.
3. Trading Products and Services
Scope Markets offers an extensive range of trading products, including over 25 forex currency pairs, various CFDs on indices, commodities, stocks, and metals. The broker does not currently support cryptocurrency trading directly; however, it facilitates deposits and withdrawals in cryptocurrencies through licensed third parties.
The broker continuously updates its product offerings to meet the evolving needs of traders. The range of products available allows for diverse trading strategies, making it suitable for both retail and institutional clients. Scope Markets also provides institutional services, including white-label solutions and asset management services, catering to the needs of larger financial entities.
4. Trading Platforms and Technology
Scope Markets supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their user-friendly interfaces and advanced trading capabilities. Both platforms are available for desktop and mobile devices, ensuring that traders can access their accounts and execute trades from anywhere.
The broker utilizes an ECN (Electronic Communication Network) execution model, which enhances trade execution speed and efficiency. The servers are strategically located to minimize latency, ensuring that traders can capitalize on market movements quickly. Additionally, Scope Markets provides an API for algorithmic trading, allowing traders to automate their strategies effectively.
5. Account Types and Trading Conditions
Scope Markets offers a single account type designed to meet the needs of all traders. This account features a minimum deposit requirement of $50, competitive spreads starting from 0.9 pips, and zero commissions on trades. The maximum leverage available is up to 1:500, depending on the asset class.
The broker also provides a demo account for traders to practice their strategies without risk, funded with virtual currency for a limited period. The trading conditions are designed to be flexible, catering to both novice and experienced traders. However, it is important to note that the broker does not offer specialized accounts, such as VIP or Islamic accounts, beyond the standard offering.
6. Funds Management
Scope Markets supports various deposit methods, including bank transfers, credit cards (Visa and Mastercard), and e-wallets like Skrill and Neteller. The minimum deposit requirement is set at $50, making it accessible for a broad range of traders. Deposits are processed quickly, typically within a few hours, though bank transfers may take longer depending on the financial institution involved.
Withdrawals can be made through the same methods used for deposits, with a minimum withdrawal amount of $50. The broker allows two free withdrawal requests per month, while additional requests incur a fee of $35. Processing times for withdrawals vary, generally taking 1-5 business days, depending on the method chosen.
7. Customer Support and Educational Resources
Scope Markets offers customer support through various channels, including email, live chat, and telephone. The support team is available 24/5, providing assistance in multiple languages, including English, Arabic, Vietnamese, Spanish, and German. However, the absence of 24/7 support may be a drawback for some traders.
The broker provides a range of educational resources, including webinars, e-books, and market analysis tools. These resources are designed to help traders enhance their skills and stay informed about market developments. While the educational materials are comprehensive, there are no formal forex education courses offered directly by the broker.
8. Regional Coverage and Restrictions
Scope Markets primarily serves clients in regions such as Nigeria, Mexico, Vietnam, Turkey, and the UAE. However, it does not accept clients from certain countries, including the United States and several European nations, due to regulatory restrictions.
The broker maintains a presence in Belize and Cyprus, with offices established to provide support and services to clients in these regions. The company's operational model allows it to cater to a global audience, but traders should be aware of the specific regulations that apply to their jurisdiction.
In conclusion, Scope Markets positions itself as a competitive player in the forex brokerage industry, offering a diverse range of trading products, robust platforms, and a commitment to customer support. With its regulatory framework and transparent trading conditions, it serves as an attractive option for traders looking to enter the financial markets. The Scope Markets broker continues to evolve, adapting to the needs of its clients while maintaining a focus on security and compliance.
Scope Markets Similar Brokers
Latest Reviews
Ray95381
My name is Al Azran Bin Zurizal, and I hold trading account #5007335 with Scope Markets. On March 10, 2025, and again on March 12, 2025, Scope Markets unilaterally disabled my account and refused my withdrawal request of USD 43,520, alleging—without evidence—that my trading activity was “fraudulent” or “abusive.” I have traded with Scope Markets for [insert your duration of relationship] and have never breached their published terms or engaged in market manipulation. Despite my repeated requests for a full explanation and return of my funds, Scope Markets has invoked vague “risk-management” provisions and reversed profits, effectively seizing my capital. This conduct is arbitrary, non-transparent, and in contravention of the company’s obligation to treat clients fairly and to process legitimate withdrawal requests promptly. I hereby request your urgent intervention to: 1. Investigate Scope Marke 2. Order the immediate release of my USD 43,520 in accordance with industry best practice
Exposure
05-02
FX2581318912
Complainant's name: WONG KHAI YI VICTOR. Platform complained about: Scope Market (RS Global Ltd). Account information: Account opening date: February 13th, 2025. Trading account: 5007245. Illegally deducted amount: $38,920.66. What happened: Inducement to deposit and false promises: My account manager, EKA Ferdadi, who in September 2024 came from Cyprus to Malaysia, claimed that trading was fully compliant and repeatedly induced me to add funds, but did not provide any risk warnings or compliance documents. Abnormal account closing: On March 10, 2025, I received an email from the platform unilaterally disabling my account, accusing me of "fraud" without presenting any evidence. I actively cooperated in identity verification, but Scope Market refused to communicate and has not returned the funds to date. Platform evasion and regulatory neglect: The platform claims "abuse of benefits," but cannot provide any irregular trading records or specific terms as the basis. After complaint, I only received automated responses. Demands and actions: I have formally filed a complaint with the CySEC and FSC, accusing Scope Market (RS Global Ltd) of financial fraud. I urge all victims to contact me privately, prepare for a class-action lawsuit, and hold the platform accountable. Please stay away from Scope Market (RS Global Ltd)! The operation of this platform is not transparent, and the safety of funds is not guaranteed.
Exposure
04-07
Ray95381
My name is Al Azran Bin Zurizal, and I hold trading account #5007335 with Scope Markets. On March 10, 2025, and again on March 12, 2025, Scope Markets unilaterally disabled my account and refused my withdrawal request of USD 43,520, alleging—without evidence—that my trading activity was “fraudulent” or “abusive.” I have traded with Scope Markets for [insert your duration of relationship] and have never breached their published terms or engaged in market manipulation. Despite my repeated requests for a full explanation and return of my funds, Scope Markets has invoked vague “risk-management” provisions and reversed profits, effectively seizing my capital. This conduct is arbitrary, non-transparent, and in contravention of the company’s obligation to treat clients fairly and to process legitimate withdrawal requests promptly. I hereby request your urgent intervention to: 1. Investigate Scope Markets’ treatment of my account. 2. Order the immediate release of my USD 43,520 in accordance
Exposure
06-10