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ScopeMarkets Review - Is it scam or safe?

ScopeMarkets Review - is scopemarkets.com scam or good forex broker?

RATING: 2 / 9 REVIEWS ScopeMarkets
ScopeMarkets is not regulated. We cannot guarantee your money is safe.

Trading Accounts & Conditions

 

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads & Commission
Fixed spreads $500 0.01 1:500 1.0 pips, fixed
Variable spreads $500 0.01 1:500 From 0.5 pips
Raw spreads $500 0.01 1:500 From 0 pips + $7 /lot (roundtrip)

 

Like most forex brokers, ScopeMarkets offers several basic account types. All of them are accessible with an initial investment of $500 and provide leverage up to 1:500 and the option to trade in micro lots – a good risk management strategy. Otherwise, traders can choose between fixed or variable spreads, commission-free trading or tighter spreads with commission fees and two trading platforms.

 

In addition, ScopeMarkets provides account management (PAMM) services.

 

Unfortunately, we could not test this brokers’ services, because it does not offer demo accounts (although it claims it does). ScopeMarkets’ spreads seem attractively low – both fixed and variable ones. Besides, high-volume Raw Spread account holders are offered reduced commission fees (those trading more than 50 Million monthly). However, we find the initial deposit of $500 required a bit high for an offshore brokerage. By comparison, major brokerage IG has set no minimum initial investment amount, so trader can start trading with just $1 and use typical spread of 0.8 pips on EUR/USD.

 

Keep in mind that Scope Markets does not accept as clients residents of USA, Syria, Afghanistan, Cote d'Ivoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, and Ecuador.

 

The Company. Security of Funds

 

Company

Country

Regulation

Scope Markets Ltd. 

Belize 

IFSC

 

ScopeMarkets offers online trading in over 30 currency pairs, CFDs on precious metals, shares, energies and indices. The company behind the brand, Scope Markets Ltd., is licensed by the Belize International Financial Services Commission (IFSC).

 

Unlike UK’s FCA and other financial watchdogs, IFSC has liberal control over forex brokers. Belize is a famous offshore destination for financial service providers, where the regulation and licensing requirements are quite loose. The initial minimum capital requirement for financial and commodity-based derivatives brokers is $500,000 and the annual license fee from amounts to $25,000. In addition, IFSC requires licensed companies to keep client funds in segregated accounts

 

Although regulation in Belize is better than the one in the St. Vincent and the Grenadines for example, investing in companies registered there is still risky, as IFSC places little emphasis on supervision.

 

Trading Platforms

 

ScopeMarkets offers its services on the most popular forex trading platform - MetaTrader 4 (MT4), as well as Scope GT platform.

 

The MT4 is a professional, fully-featured trading terminal provides ease of use, fast order execution, a variety of technical analysis indicators, advanced charting tools and the ability to develop and use Expert Advisors (EA) for automatization of trades. With this broker it is available as downloadablw PC version and mobile apps.

 

Scope GT is the broker’s in-house platform which offers trading in any commodity in the derivative markets. It is equipped with the common order types to follow up markets, hedging and confirmation tools such as email or notification for executions and any other request, customized reporting modules, margin off-set for spot and forward positions, span margin application for different OTC products. The platform is also available for mobile devices.

 

Methods of Payment

 

Clients of ScopeMarkets are offered a variety of payment methods to choose from: credit cards, bank wire transfers, and the following e-wallets Skrill, and Neteller.

 

Conclusion

 

ScopeMarkets is an offshore broker, offering competitive conditions for trading in various currency pairs and some CFDs on the popular MT4 platform, as well as its proprietary Scope GT Trader.  

 

Pros Cons
Competitive spreads Regulated offshore
Choice of trading platforms, MT4 available Comparatively high initial deposit required
   No demo accounts

 

Latest news about ScopeMarkets
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Traders` reviews for ScopeMarkets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scope Markets Reply: I need to withdraw my capital investment

Dear Mr. Nhlebela,

Thank you for your feedback.

Kindly note that our Customer Support Team is at your service 24/5. Please contact us via email at [email protected] or via LiveChat: https://www.scopemarkets.com/ and we would be happy to assist you.

Best Regards,
Scope Markets team

Scope Markets Team 03/14/2019

I need to withdraw my capital investment

My assigned portfolio manager does not respond to my email.
I need someone to call me so that we can sort out my account standing.

Richard Nhlebela 03/14/2019

Scope Markets Reply: Dont Trade With Scope Markets

Dear Mr Batshon,

We are sorry that you are not satisfied with our services.

Kindly note that slippage is likely to occur during periods of high volatility. As per the definition of stop order, it is triggered when market touches the price and stop order turns to market order. On stop orders, slippage is possible, especially during data times. When we checked your trade, during data time, USDCAD jumped and filled with slippage, at the same second market turned back and your position stopped out. During data times, such moves are considered as market conditions.

We do not guarantee the execution of your Pending Orders at the price specified during Slippage. However, we confirm that your Order will be executed at the next best available market price from the price you have specified under your pending Order.

For further assistance, please contact our Support Team at [email protected]

Best Regards,
Scope Markets team

Scope Markets Team 03/08/2019

Dont Trade With Scope Markets

i have trading with scope markets for over a year now
and changing between strategies
and i finally started making money scalping the news
with over 6 months of success and no slippage at all
the company decides to give me some action with slippage
(why the sudden slippage )
they trigger my buy stop at a price the market did not reach nor the candle or any other server
and my accounts went to -2900 $
when i email them ( it takes them 24 hours to reply to my email )
they ( to shut me up) say that out of there goodwill
will remove some of my slippage ( so that my account becomes -18$ only )
after going back and forth with the emails
they said i was gaining an unfair advantage scalping the news
even thou scalping is allowed
but they realized that they are losing money and they decide to slip the system to stop me from trading
it would have been much nicer of them to email me telling me to stop scalping ( after one year of being a loyal customer)
they don't want you to profit , and they lie to you in the emails
and they are pure scam

my order was filled @1.35048
even thou the market didnt reach that price
and my buy stop was put at 1.3460

huzz 01/15/2019

estafa

esta empresa no tiene regulacion tampoco estan registrados bajo hacienda en mexico tengan mucho cuidado.

Translated by Google:

This company has no regulation nor are they registered under Mexico's Hacienda. Be very careful.

alan 10/15/2018

Scopemarkets fraud

Scopemarkets es un fraude ya que no cuenta con ningúna regulación solo licencia saludos

Translated by Google:

Scopemarkets is a fraud since it does not have any regulation just leave greetings

Luis Hernández 09/14/2018

ScopeMarkets Estafa

Esta empresa es una farsa prometo te tratan bien y después te hacen perder tu capital, si te invitan a sus oficinas y te hacen firmar un contrato ya los investigue y de nada sirve firmar si ellos de la noche a la mañana pueden desaparecer, yo fui a sus oficinas y la persona que según me iba asesorar se vestía muy mal, le hice preguntas del mercado y no sabía que contestarme jajajaja pobres tontos ni si quiera ser profesionales. Les recomiendo que no pongan su dinero en personas cómo estás qué lo terminarán perdiendo

Translated by Google:

This company is a farce I promise I'll treat you well and then make you lose your capital, if they invite you to their offices and they make you sign a contract and investigate them and it's useless to sign if they can disappear overnight, I went to his offices and the person who, according to my advice, was dressing very badly, I asked him questions about the market and he did not know how to answer me hahahaha poor fools or even to be professionals. I recommend that you do not put your money in people how are you what they will end up losing

Luis Ernesto 08/14/2018

Respuesta Scope Markets

Hola que tal Carlos podrias ser mas especifico en tu caso, ya que una persona que pierde 10K USD no lo cuenta tan a la ligera como tu, pero no te preocupes proporcionanos tu numero de Plataforma, ID de POA y numero de Contrato en dado caso que seas cliente real de scopemarkets sabes cuales son estos datos que te solicito y de todas formas revisando en nuestra cartera de clientes no contamos con ningún cliente de nombre Carlos Manuel, pero bueno esperemos que puedas comprobar que realmente eres cliente operativo de todas formas me pongo a tu disposición y a la de cualquier persona que quiera saber nuestra ubicación.

Saludos cordiales a la competencia.

Scope Markets Mexico.
Paseo De La Reforma 296, Piso 38.
Col Júarez,06600 Júarez CDMX.
Numero de Licencia: IFSC/60/373/TS/17



Translated by Google:

Hello, how could Carlos be more specific in your case, since a person who loses 10K USD does not count it as lightly as you, but do not worry, provide your Platform number, POA ID and Contract number in case if you are a real client of scopemarkets, you know what these data are that I request and in any case, checking our client portfolio we do not have any client named Carlos Manuel, but we hope you can verify that you are really an operative client anyway. at your disposal and that of any person who wants to know our location.

Warm greetings to the competition.

Scope Markets Mexico.
Paseo de la Reforma 296, 38th floor.
Col Júarez, 06600 Júarez CDMX.
License number: IFSC / 60/373 / TS / 17

Alexis Gomez 08/13/2018

Scopemarkets.com withdrawal

Hola.. sin saber del tema inverti con la empresa scopemarkets.com ya que me platicaron como funcionaba confie en ellos inverti 10,000 dolares perodesde que meti mi dinero no vi ganacias eso me dio desconfinza y ahora que quiero retirar mi dinero solo me dan largas es un error caro el haberlo hecho sin antes investigarlos.

Translated by Google:

Hello ... without knowing about the topic inverti with the company scopemarkets.com since they told me how it works I trusted them I invested 10,000 dollars but since I put my money I did not see any gains that gave me a lack of confidence and now that I want to withdraw my money they only give me long is an expensive mistake to have done without first investigating them.

Carlos manuel 08/10/2018
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