Best Forex Broker

Scope Markets Review

Scope Markets is an international broker offering trading services in Europe, South Africa and Belize since 2018.

Owned and operated by SM Capital Markets Ltd, they are headquartered at: 19 Spyrou Kyprianou Avenue, Silver House, Ground Floor, Limassol 3070 Cyprus. Customer support email address is: [email protected].

Contact phone numbers are; South Africa: +270100354200, Cyprus: +35725281811, United Kingdom: +442030516959. Investors with complaints or withdrawal problems should read this.

Scope Markets Reviews

Our review of the broker Scope Markets shows that they offer their clients the industry standard trading apps of MT4 or MT5. You have the option to download the desktop trading app, or install the mobile app from iTunes or Google Play.

Scope Markets offers a full line of underlying assets for trading CFD’s, including all popular Forex pairs. Crypto is not listed as an available product to trade. Margin rates vary depending on your local. For traders in the European Union the limit is 30:1, and in South Africa it is as high as 500:1. The minimum deposit for a new trading account is between $200 for the standard account type.

Many South African’s get involved in Forex trading & investing, because of a Forex trader they found on Telegram. Before following one of these traders, you must know that the people running managed account schemes are very often frauds! They are setup as Introducing Brokers, and many of them will profit off of your trading volume.

First thing to do, is educate yourself about day trading, and then look into Copy Trading at a regulated broker.

Is Scope Markets a Regulated Broker?

Yes. Scope Markets operates three different websites depending on your country of residence.

  • Europe: Owned by SM Capital Markets Ltd and regulated by CySEC with licensed number 339/17. Located at: Gladstonos 116 M Kyprianou House, 3rd & 4th Floor, Limassol 3032 Cyprus.
  • South Africa: Owned by Scope Markets SA (PTY) Ltd and regulated by the FSCA with license number FSP47025. Located at: Future Space, 96 Rivonia Street, Sandton, Gauteng 2196 South Africa.
  • Asia / South America: Owned by Scope Markets Ltd and regulated by the Financial Services Commission of Belize with license numbers 000274/222 and 000274/221. Located at: 6160 Park Avenue, Buttonwood Bay, Belize City, Belize.

The Scam Broker Investigator has be reviewing brokers for almost 10 years, and our method of review has stayed the same. We first review a broker by checking the validity of that brokers license. Why does a broker need a valid license? Because everyday we expose more offshore brokers that disappear and steal investors money.

World class brokers are always licensed by; ASIC in Australia, FCA in United Kingdom, or your local governments financial regulator. Smart investors will always use a licensed broker, because of the protection you are offered from your financial regulator.

Compare Brokers

Smart investors always review a few different brokers before making a final decision.

Pepperstone is a popular online broker, that is licensed and regulated in most places, see here. You get an nice choice of trading platforms, and Free Demo Accounts. Learn more at: Pepperstone.com.

What was your experience with the brokers at Scope Markets? Please share your thoughts in the comment section below.