Scope Market: What Do Consumers Say about it?

Whether you trade forex or explore profitable opportunities in the stock market, selecting a brokerage firm has always been a concern, especially when hundreds of legit and scam brokers are available. Besides scrutinizing other factors, navigating customer feedback helps you assess whether or not your prospective broker is worth your hard-earned money. In this piece, we'll share what people think of Scope Markets. Before we proceed, let us quickly provide you with an overview of the broker.

Scope Markets - Overview

Scope Market (https://www.scopemarkets.eu/) is an online broker offering retail trading services across multiple asset classes, including forex, stocks, indices, energies, and metals. Based in Belize, the company claims to hold regulations from the Financial Services Commission of Belize. Unlike other brokerage firms, you only have one account to sign up for, though flexible choices are available for platform selection. The company offers both in-house and renowned third-party trading terminals, such as MT4 and MT5. A mobile trading app is also available to facilitate on-the-go traders. While the minimum deposit required is $50, the company doesn't list the associated deposit or withdrawal fees. However, it boasts competitive spreads starting around 0.9 pips for major forex pairs. Those looking for swap-free accounts can also come on board by registering for an Islamic account. Besides providing educational resources, such as video tutorials, eBooks, economic calendars, trading calculators, and blog posts, the company offers round-the-clock customer support via telephone, email, and live chat.

Regulated by three regulatory bodies - the Cyprus Securities and Exchange Commission (CySEC), the Belize Financial Services Commission (Belize FSC), and the Kenya Capital Markets Authority (Kenya CMA) - Scope Market is able to offer forex trading services in some areas.

What People Say About Scope Markets: A Diverse Perspective

Scope Markets seems to offer a mixed experience for its customers. Positive reviews highlight the broker's strengths, such as quality service, and multiple trading tools. Satisfied traders have also commended the broker's transparency and reliability in processing withdrawals. On the other hand, negative feedback centers around high trading costs, slow customer support, and concerns about partnerships with potentially fraudulent entities. Below we discuss them both.

User Reviews

Scope Markets has received praise from several satisfied customers who appreciate the broker's trading services and support. For instance, Martin Edward Ab Jalil expresses satisfaction with the company, having made a substantial profit of $6,000 over the past two months, and commended the broker's effective communication with clients. Theobald also shares a positive experience, acknowledging timely deposits and withdrawals.

333owen1r1ng is particularly impressed with the incredible service provided by the team, emphasizing the quality of deliverables and the ease of using Scope Markets' services. And Javed finds comfort and profitability in trading with a regulated broker like Scope Markets and would confidently recommend the broker to others. 

Galan appreciates Scope Markets' high-quality services, signal indicators, and diverse trading tools but hopes for additional registrations and regulations in other countries like Singapore and the UK. And Abdul Quddus Chowdhury extols its versatility, citing it as a regulated haven where various trading strategies thrive. Hedging, scalping, news trading—the canvas is open for all. 

Victor's testimony rings with an appreciation for swift withdrawals and stellar customer service of the broker, where precision in quotation and negligible slippage reign.

Nitin Panjabi's and  Mohammad Aziz Uddin Chowdhury's journey unveils the broker being a bridge to ease the complexities of forex. They believe skill and experience united with Scope Markets' support team helped them find opportunities timely.

Chirag Brahmbhatt's words portray reduced transaction costs, optimal spreads, and customer service always on call.

A user praised a staff named Neofytos, as being a beacon of assistance and kindness, which embodies the very essence of Scope Markets' values. His dedication speaks for itself and impresses clients with his reliability and attentiveness.

These diverse narratives merge into a symphony of satisfaction, underlining Scope Markets' role as a reliable guide in the trading realm.

Despite the positive feedback, some customers express dissatisfaction with Scope Markets.

JP Rossi advises avoiding the broker due to high transaction fees and potential cooperation with Global Takeover, a company suspected of fraud.

Ray raises concerns about the lack of responsiveness from the customer service team, stating that their experience was a "nightmare."

Mario Vega echoes similar sentiments, claiming that calls, emails, and live chats go unanswered, which further adds to the negative perception of the customer services provided by Scope Markets. And Annette Naeff raises concerns about high trading expenses, wide spreads, and commissions.

Niloy highlights the broker's good and bad times, recognizing Scope Markets' focus on premium customer service, low costs, and quality execution, as evident from various awards received by the broker from global award bodies.

Mohammad Burhan advises traders to avoid Scope Markets due to high transaction fees and potential associations with fraudulent companies like Global Takeover.

Moreover, A year of successful trading took a bitter turn for a Scope Markets trader due to unexpected slippage. Despite following permitted news scalping, his buy stop was executed at an unattainable market price. The incident led to suspicion and raised questions about communication and broker intentions. While this could be isolated, it highlights the need for transparent communication and trust-building between traders and brokers.

A couple of glowing reviews celebrate Scope Markets as a top-tier professional service with exceptional customer support. However, their credibility was questioned by an associated IP issue, raising concerns about review authenticity.

Bottom Line

Scope Markets seems to have earned recognition for its user-friendly trading platforms and premium customer service. However, the trades hope it will address concerns about latency amid trade execution and improve customer service responsiveness to maintain a positive reputation in the market. In short, traders should exercise caution and conduct thorough research before trading with Scope Markets or any other broker.