If you’re thinking about trading forex with Scope Markets, then you’ll want to read this review first. We’ll go over all the important details of this broker, including their spreads, commissions, platform offerings, and customer service. By the end of this review, you’ll know if Scope Markets is the right forex broker for you.
Scope Markets is one of the CMA regulated forex brokers in Kenya. They offer a wide range of products and services, including forex, CFDs, and stocks. They also offer a variety of trading platforms, including the popular MetaTrader 4 platform.
Is Scope Markets Kenya Legit?
There is a lot of discussion online about whether or not Scope Markets Kenya is a legit Forex broker. Some people say that the company is a scam, while others assert that it is a reliable and trustworthy brokerage. But what’s the truth?
The truth is that Scope Markets (the trading name of SCFM Limited) is a legitimate and reliable forex broker. They are registered with the Capital Markets Authority and are compliant with all CMA rules and regulations. They offer a variety of account types, including a practice account, to accommodate traders of all levels of experience.
Scope Markets has a positive reputation in the Kenya forex community. Their spreads are competitive, and they offer a variety of account types to suit all traders. Their customer service is also top-notch, which is important when you’re dealing with such a large company.
How to Open a Trading Account at Scope Markets Kenya
Opening a Forex trading account with Scope Markets is a simple process. The first step is to complete the online application form. This can be found on the Scope Markets website.
The next step is to provide proof of identification and residency. This can be done by uploading a copy of your national ID, passport or driver’s license, as well as a recent utility bill or bank statement.
Once your account has been verified, you will need to fund it in order to start trading. You can do this by transferring money into your account via bank transfer or credit card. Scope Markets is also among the forex brokers that accept Mpesa. So, you can easily fund your trading account using Mpesa.
Once your account is funded, you can start trading. Scope Markets offers a range of platforms, including the popular MetaTrader 4 platform. You can use this platform to trade a wide range of currencies, as well as stocks, indices and commodities.
Scope Markets is a CMA regulated forex broker, so you can be confident that your funds are safe and your trades are conducted in a secure environment. To find out more about Scope Markets Kenya or to open an account, visit their website today.
Account Types at Scope Markets
Scope Markets (Kenya LTD) offers 2 account types, including:
- Silver Account: An account that charges raw spreads, and is most recommended for beginners
- Gold Account: Charges a combination of raw spreads and commissions
A forex account that charges raw spreads is a great option for experienced traders who are comfortable making their own trading decisions. With a raw spread account, you only pay the spread (the difference between the buy and sell prices) on each transaction. This can be a more cost-effective option than traditional brokerage accounts, which charge commissions in addition to the spread.
Scope Markets Silver Account
There are a few things you’ll want to keep in mind if you’re considering opening a forex account that charges raw spreads. Firstly, it’s important to make sure that your broker offers competitive spreads on the currencies you plan to trade. Scope Markets has spreads starting at 1.1 pips on their Silver Accounts, which is slightly above the industry average of 0.6 pips on the EUR/USD.
Scope Markets Gold Account
The Scope Markets Gold Account is a commission-based account that charges $7.00 round turn (i.e $7.00 on every $100,000 traded). This is the industry average for commission-based accounts.
A commission-based forex account can be a good option for experienced traders who are comfortable with taking on more risk in order to potentially earn higher profits. These accounts typically charge a commission on each trade, which can eat into profits over time. However, they also offer traders more freedom to choose the trades they make and may offer a wider range of investment options.
Scope Markets Minimum Deposit
Scope Markets minimum deposit requirement is 100 USD. This amount is required to open a standard account at the company. The 100 USD minimum deposit requirement is lower than that of many other forex brokers, making it a good option for first-time traders.
When considering a Forex broker, it’s important to look at more than just the minimum deposit requirement. Make sure you also compare the spreads, commissions, and other fees charged by different brokers. And be sure to read reviews of different brokers before opening an account, so you can choose one that has a good reputation and meets your needs.
Scope Markets Kenya LTD (Scope Markets in short) is a well-known Forex broker that has been in operation since 2014. Over the years, they have built up a large customer base in Kenya and are considered to be one of the most reliable brokers in the Kenyan industry.
There are a number of things that sets Scope Markets apart from other brokers. Firstly, they offer competitive spreads. They also have a wide range of products available for trading including Forex, indices, commodities, and stocks.
Overall, Scope Markets is a great choice for traders who want a reliable broker with good customer service and a wide range of products available
Scope Markets Customer Service
Scope Markets Kenya is a leading forex broker with some of the best customer service in the industry. Representatives are available 24/7 to help you with any questions or concerns you may have. They also offer a wide range of educational materials to help you get started trading forex.
Their award-winning education center is one of the most comprehensive in the industry, and offers everything from basic introduction to forex to strategies for advanced traders.
I had a question about an order that I placed, and their customer service representative was able to answer my question quickly and completely. He was very friendly and helpful, and I was very pleased with the level of service that he provided.
The representative was friendly and helpful, and she answered all of my questions clearly. Overall, I was happy with the level of service that Scope Markets provided.