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Scope Markets Account Types

Scope Markets Account Types

Overall, Scope Markets offers just one kind of retail trading account, the One Account, which can be converted into an Islamic Trading Account. Scope Markets has a Trust Score of 81% out of 100

Updated : August 31, 2022

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Scope Markets Account Types

Account Types Overview

Scope Markets Account Types

Account Types

Scope Markets Account Types

Account Features

Scope Markets Account Types

Pros and Cons

Scope Markets Account Types

Final Verdict

Scope Markets Account Types

FAQ

Overall Rating

Min Deposit

50% of your initial deposit

Regulators

Trading Desk

MT4, MT5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Scope Markets Kenya Overview

 

👉 Overall, Scope Markets is considered average risk, with an overall Trust Score of 80 out of 100. Scope Markets is licensed by zero Tier-1 Regulators (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). Scope Markets offers a single retail trading account namely the One Account.

 

👉 Scope Markets, a popular forex broker, is committed to openness and honesty. They are committed to fully sophisticated trade, superior performance, and continual innovation.

 

👉 Scope Markets is considered safe for Kenyan traders because of their domestic regulation by the Capital Markets Authority of Kenya (CMA). Scope Markets provides consumers and institutional traders across the globe with online trading services, including FX and CFD trading.

 

👉 The broker offers a variety of compliant, flexible, cost-effective, and client-centric trading solutions that are beneficial to different trading strategies.  Scope Markets takes the security of customer cash very seriously.

 

👉 Subsequently, all retail customer monies are kept separate from the company’s own funds and maintained in separate bank accounts. This assists in ensuring that customer money is not utilized for any other reason, such as day-to-day company operating expenses.

 

👉 Scope Markets, being a regulated organization, is required to adhere to stringent laws and regulations designed to safeguard investors. This may assist in providing customers with the peace of mind they may lack when trading online with an unregulated brokerage business.

Scope Markets At a Glance

🏛 HeadquarteredLondon, United Kingdom
🏙 Kenyan Based OfficeNo
✅ Accepts Kenyan Traders?Yes
🗓 Year Founded2015
📞 Kenyan Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
⚖️ RegulationSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
🪪 License Number• Seychelles – SD008
• United Kingdom – 733772
• Cyprus – 278/15
• Labuan – MB/18/0028
• South Africa – FSP 49464
⚖️ CMA RegulationNo
🚫 Regional RestrictionsThe United States
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts3
📊 PAMM AccountsMAM Accounts
🤝 Liquidity ProvidersBarclays and other top-tier banks as well as hedge funds
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spreadFrom 0.0 pips
📞 Margin Call100%
🛑 Stop-Out30%
Crypto trading offered?No
💰 Offers a Kenyan shilling Account?No
👨‍💻 Dedicated Kenyan Account Manager?Yes
📊 Maximum Leverage1:500
🚫 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)11,400 Kenyan shilling equivalent to $100
✅ Kenyan shilling Deposits Allowed?No, only USD, GBP, EUR, IDR, CNY, VND, RUB
📊 Active Kenyan Trader Stats70,000+
👥 Active Kenyan-based Scope Markets CustomersUnknown
💳 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Bank Transfer
• Debit Card
• Credit Card
• Skrill
• Neteller
• Sticpay
• Fasapay
• UnionPay
• Nganluong
• QIWI
• WebMoney
🏦 Segregated Accounts with Kenyan Banks?No
📊 Trading Platforms• MetaTrader 4
• MetaTrader 5
✔️ Tradable Assets• Forex
• Stock Indices
• Energies
• Precious Metals
• Bonds
• Cryptocurrencies
💸 Offers USD/KES currency pair?No
📈 USD/KES Average SpreadN/A
📉 Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Indonesian, Russian, Arabic, Italian, Thai, Vietnamese, German, Chinese (Simplified), Spanish, Polish, Korean, Malay, Portuguese
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Customer Support LanguagesNo
✅ Bonuses and Promotions for KenyansYes
📚 Education for Kenyan beginnersYes
📱 Proprietary trading softwareNo
💰 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✅ Is Scope Markets a safe broker for Kenyans?Yes
📊 Rating for Scope Markets Kenya9/10
🤝 Trust score for Scope Markets Kenya81%
👉 Open an account👉 Open Account

Scope Markets Kenya Account Types

👉 Rather than a range of trading accounts, Scope Markets has consolidated all accounts into a single comprehensive account type. The One Account is intended for traders and investors of all sorts and trading styles and includes premium features.

 

👉 Scope Markets’ One Account combines all the advantages of prior accounts to provide a simple, transparent, and competitive account with the best available price, allowing Kenyan traders to concentrate on investing and trading in its most basic forms.

Scope Markets Kenya Account Features

One Account

👉 The One Account was created to accommodate traders of all sorts, regardless of their trading experience, style, demands, or ambitions. Kenyan traders may anticipate the following features from this account:

 

Account FeatureValue
💵 Minimum Deposit11,500 KES or an equivalent to $100
📊 Starting or Average SpreadsFrom 0.9 pips EUR/USD
💰 CommissionsTrades are commission-free
💸 Trading Platform OptionA choice between MetaTrader 4 and 5
⬆️ Maximum Leverage RatioUp to 1:500
📞 Customer SupportPersonalized support
💳 WithdrawalsUnlimited Withdrawals
📈 Trading SignalsYes, premium
📱 WebinarsYes, weekly
💻 SeminarsYes, weekly
📚 EducationAccess to premium materials such as a multimedia library that contains videos
🔧 Additional trading toolsEconomic Calendar

Scope Markets Kenya Demo Account

Demo Account

👉 A demo account, sometimes referred to as a practice account, allows traders risk-free access to the features of a real account. When traders utilize a demo account, they trade with virtual money rather than their own cash, which makes the demo account ideal for both novices and experienced traders.

 

👉 Beginner traders may utilize the demo account to gain trading experience, expertise, and comprehension before registering for an actual trading account.

 

👉 Advanced traders and professional traders may utilize the demo account to test their trading methods before deploying them on a real trading account, sparing traders from losing their cash until their techniques are finalized.

Scope Markets Kenya Islamic Account

👉 An Islamic Account is designed exclusively for Muslim traders who adhere to Sharia law. The legislation prohibits its adherents from paying any kind of interest, including overnight costs, that is deemed wasteful or exploitative.

 

👉 Overnight fees are assessed if traders maintain positions open for an extended period after the trading day has completed, and this sort of account exempts traders from such fees or interest if they hold positions open for an extended period.

 

👉 Scope Markets does not offer Muslim traders in Kenya the opportunity to convert their One Account into an Islamic or Swap-Free Account, which means that traders must ensure that their positions do not stay open for longer than 24 hours.

 

👉 Should Muslim traders hold their positions for longer than 24 hours, they could be subject to overnight fees, which are prohibited by Sharia law.

Overall Rating

Min Deposit

50% of your initial deposit

Regulators

Trading Desk

MT4, MT5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Scope Markets Kenya Pros and Cons

✔️ Pros❌ Cons
Well-regulated and the broker has a local office in KenyaThe spread is marked-up
There is a choice between MetaTrader 4 and 5 across devicesThere are limited additional trading tools and resources
There is dedicated support offeredThere are limited tradable instruments
The trading fees are transparent and competitiveThere is no KES-denominated trading account
There are local deposit and withdrawal options for Kenyan traders
Client fund safety is guaranteed and there is investor protection provided by Scope Markets
All trades are commission-free

Verdict on Scope Markets

👉 Overall, Scope Markets is very competitive in terms of its trading fees and spreads.

FAQ

Can Kenyan traders register a live trading account with Scope Markets?

Yes, Kenyan Traders can register an account with Scope Markets in Kenya.

 

How many financial instruments can Kenyans trade when they use a Scope Markets Account?

With the One Account, you can trade these asset classes:

  • Forex
  • Indices
  • Energies
  • Metals
  • Shares

 

Does Scope Markets allow Hedging and Scalping Strategies?

Scope Markets Kenya does not allow the use of Hedging or Scalping Strategies.

 

Can I participate in Copy Trading with Scope Markets?

No, unfortunately, Scope Markets Kenya does not offer Copy Trading.

 

How long will my withdrawal with Scope Markets take?

The typical turnaround time for withdrawals with Scope Markets Kenya is between 1 to 2 business days. However, if you use a Wire Transfer or Debit/Credit card, it can take between 3 to 5 business days, whereas Telegraphic Transfers (TT) take between 3 to 8 business days to reflect.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

9.6/10 - (32 votes)