SCOPE
Pros and Cons
Pros
- Offers a wide range of trading instruments including forex, commodities, and stocks
- Supports popular trading platforms: MetaTrader 4 and MetaTrader 5
- Provides various account types including retail, professional, and Islamic accounts
- Offers a demo account for practice trading
- Multiple customer support channels including email and phone
Cons
- Unverified regulatory status
- Potential risks associated with fund security
- Limited educational resources available
- Withdrawal processing times may vary
- Commission fees on certain trading instruments
Basic Information
User Reviews
SCOPE Overview
SCOPE, officially known as RS Global Ltd, is a forex broker established in Belize with an operating period of 5-10 years. The broker is registered in Belize, which serves as its headquarters. While SCOPE offers various trading services, it is important to note that the regulatory status is unverified, indicating potential risks associated with trading through this broker. For detailed information about their offerings, you can visit their official website at https://www.wikifx.com/en/dealer/1671800888.html.
SCOPE provides a range of trading instruments, including forex, commodities, indices, and fractional stocks. The broker supports trading on popular platforms such as MetaTrader 4 and MetaTrader 5, which are known for their robust features and user-friendly interfaces. Customer support is available through multiple channels, including phone and email, ensuring traders can get assistance when needed. Despite the unverified regulatory status, SCOPE aims to differentiate itself in the market through competitive trading conditions and a variety of account options, catering to the diverse needs of traders worldwide.
Is SCOPE Safe? Regulation Analysis
Regulatory Information
SCOPE, officially known as RS Global Ltd, is not regulated by any recognized financial authority. This lack of regulation raises potential risks for traders, as there are no established investor protection mechanisms in place. Trading with an unregulated broker can result in a lack of recourse in case of disputes or issues related to fund security.
Is SCOPE Regulated and How Are Client Funds Protected?
Given SCOPE’s unverified regulatory status, traders should be aware of the inherent risks associated with trading through this broker. The absence of regulation means that client funds may not be adequately protected, increasing the potential for fraud and financial loss. It is crucial for traders to exercise caution and consider these factors before engaging in trading activities with SCOPE.
Trading Products and Services
What trading instruments does SCOPE offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
SCOPE provides a diverse range of trading instruments that cater to various trading styles and preferences. With offerings in forex, commodities, indices, and stocks, traders can engage in multiple markets, enhancing their trading strategies. This variety allows both beginners and experienced traders to explore different avenues for potential profit, whether they prefer short-term trading or long-term investments. The availability of diverse asset categories supports effective portfolio diversification, enabling traders to adapt their strategies based on market trends and personal risk tolerance.
Account Types and Trading Conditions
What Account Types and Fees Does SCOPE Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | Low minimum deposit, access to various trading instruments | Suitable for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, customizable trading conditions | Requires trading volume qualifications |
| Islamic Account | All traders | Swap-free trading conditions | Available for those needing Sharia-compliant trading |
| Demo Account | All traders | Practice trading without risk | Ideal for testing strategies and the trading platform |
Account Opening Process
To open an account with SCOPE, traders must follow these steps: first, submit personal information, including identity verification documents such as a government-issued ID and proof of address. Next, employment and financial information should be provided to ensure compliance. Traders should be aware that they can upgrade to a professional account later if they meet the eligibility criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Tight spreads available |
| CFDs (Stocks, Indices, Commodities) | Varies | $3.50 per lot | Competitive pricing for various assets |
| Cryptocurrencies | Varies | $5 | Dependent on market volatility |
Other Fees
Traders should consider additional fees that may apply, including: deposit and withdrawal fees, which are typically absent; inactivity fees for dormant accounts; potential platform usage fees; overnight interest (swap rates) for certain positions; and currency conversion fees for transactions in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does SCOPE Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, market search, multiple order types, price alerts, technical indicators | Demo account, VPS |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, market search, multiple order types, price alerts, economic calendar | Demo account, VPS |
| Web Version | Browser-based (any OS) | Encryption, market search, one-click trading, price alerts | Demo account |
| Mobile App | iOS, Android | Biometrics, market search, one-click trading, push notifications | Demo account |
SCOPE provides a variety of trading platforms tailored to meet different trading needs. The MetaTrader 4 and 5 platforms are particularly advantageous for their extensive tools and features, making them suitable for both beginners and experienced traders. The mobile app allows for convenient trading on the go, while the web version offers accessibility without software installation. All platforms prioritize secure login measures and enable traders to receive real-time alerts for market movements, further supporting effective trading strategies.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 20k/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | USD, EUR |
| Cryptocurrency | Instant | $5 transaction fee | Min 50, Max 15k/day | BTC, ETH |
| E-wallets | Instant | 1.5% fee | Min 50, Max 10k/day | USD, EUR |
Minimum Deposit
SCOPE requires a minimum deposit of $50 to open an account. This amount may vary depending on the payment method chosen, but it remains consistent across account types and regions.
How to Withdraw
- Log in to your SCOPE account.
- Navigate to the withdrawal section of the platform.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw, ensuring it meets the specified limits.
- Complete any required verification steps.
- Submit your withdrawal request.
- You will receive a confirmation once your request is processed.
Customer Support
SCOPE Customer Support Overview
Support Channels
SCOPE provides various contact methods to ensure effective customer support. Traders can reach out via:
- Email: Customers can send inquiries or concerns to support@scopemarkets.com.
- Telephone: Support is available through their contact number, +44 20 3051 6959, allowing for direct communication.
- Social Media: SCOPE maintains a presence on platforms like Facebook, providing additional avenues for customer service and updates.
Service Availability
SCOPE’s customer support operates during standard hours, providing assistance 24/5. Multilingual support is available, although specific languages are not detailed in the reference.
Frequently Asked Questions
SCOPE, officially known as RS Global Ltd, is not regulated by any recognized financial authority. This lack of regulation raises potential risks for traders, including inadequate protection of client funds and limited recourse in case of disputes or issues related to fund security. Traders should exercise caution and consider these risks before engaging in trading activities with SCOPE.
SCOPE offers a diverse range of trading instruments, including forex, commodities, indices, and stocks. Traders can engage in multiple markets, enhancing their trading strategies. This variety supports effective portfolio diversification, allowing traders to adapt their strategies based on market trends and personal risk tolerance.
SCOPE provides multiple channels for customer support, including email at support@scopemarkets.com and telephone at +44 20 3051 6959. Additionally, traders can reach out through SCOPE’s social media platforms for further assistance and updates.
SCOPE offers several account types, including Retail Accounts for beginners, Professional Accounts for experienced traders, Islamic Accounts for those needing Sharia-compliant trading, and Demo Accounts for practice. Each account type has different characteristics, such as minimum deposit requirements and access to trading instruments, catering to the diverse needs of traders.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.