Scope Markets Faces Allegations of Unfair Practices from Its Introducing Broker

BrokersView recently received an alarming story from a Master IB, Ayanda Zikode, who shared his experience of unfair treatment by Scope Markets South Africa. Ayanda’s account sheds light on practices that raise serious questions about how brokers treat their partners, particularly those who dedicate significant time and effort to driving business growth.

The Alleged Actions of  Scope Markets

According to Ayanda, during the year of collaboration with Scope Markets, he successfully onboarded over 11,000 clients but was suddenly demoted from a Master IB to a standard IB. Despite his extensive contributions, the broker allegedly disregarded his efforts and made him “start from scratch”—a move that Ayanda describes as both shocking and unjust.

What makes this case even more troubling are the additional steps Scope Markets reportedly took to sideline Ayanda:

Targeting IBs introduced by Ayanda: The broker allegedly approached the IBs he had referred, offering them upfront financial incentives to work directly with the company while excluding him from the process.

Presenting an insufficient compensation: Ayanda described the compensation offered following these events as inadequate, showing little thought or appreciation for his contributions.

These actions, as described by Ayanda, demonstrate a lack of respect and fairness in the broker's dealings with a key partner.

Implications for IBs and Brokers

The forex industry heavily relies on Introducing Brokers (IBs) to establish trust and grow client bases. However, incidents like this raise red flags about the reliability and ethics of certain brokers. For a Master IB who helped a broker acquire thousands of clients to be treated in this way undermines not only the IB but the broader community of partners who expect fairness and accountability.

"If this can happen to me after everything I’ve contributed, it can happen to anyone. Brokers need to understand the value of their partners and treat them with the respect they deserve, " said Ayanda.

Scope Markets Under Scrutiny

This story puts Scope Markets South Africa in the spotlight, highlighting concerns about their treatment of IBs. Brokers must recognize the pivotal role that IBs play in their success. Without trust and mutual respect, brokers risk losing their reputation and driving away potential partnerships.

BrokersView Calls for Accountability

At BrokersView, we believe in fostering transparency and ethical practices in the forex industry. We encourage brokers to honor their commitments and treat their IBs as valued partners. If you’ve experienced similar challenges or wish to share your story, BrokersView is here to provide a platform to hold brokers accountable and promote fair practices.

What do you think about this matter?

Do you think the broker, Scope Markets, failed to treat its IB fairly and needs to take responsibility? 

Or do you think there must be some reason for what happened, and Ayanda Zikode may have violated the agreement or rules?

Share your ideas in comments.