Scope Markets Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Scope Markets trading signals. You will learn what kinds of trading signals Scope Markets offers and what the conditions for using them are.
Short introduction of Scope Markets
Scope Markets provides access to CFDs on currency pairs, indices, stocks, commodities, and metals. Its clients can register two account types, namely demo and live. A demo account is free to open; for a live account, you need to deposit $100 minimum. To deposit and withdraw funds, traders can use bank transfers, Skrill, Neteller, and Visa/MasterCard bank cards. Trading conditions look attractive, as there are floating spreads from 0.9 pips, no fees, and leverage up to 1:500. Traders have access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), including their mobile versions. The broker's website contains a large number of educational materials, and each client can participate in webinars if desired. There is a welcome bonus. The broker offers partnerships for individuals and legal entities.
| 💰 Account currency: | USD, EUR, and GBP |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:500 |
| 💱 Spread: | Floating, from 0.9 pips |
| 🔧 Instruments: | CFDs on currency pairs, indices, stocks, metals, and commodities |
| 💹 Margin Call / Stop Out: | No |
Scope Markets Pros and Cons
👍 Advantages of trading with Scope Markets:
•This broker is convenient for novice traders, as the minimum deposit is only $100, there is a 50% welcome bonus, and individual technical support;
•Professional market participants will appreciate the large choice of CFDs, significant leverage, and the absence of trading restrictions;
•Since this broker has only one live account type, its clients do not need to puzzle over which account is optimal for them;
•Scope Markets is an ECN (Electronic Communication Network) broker, which ensures fast execution of trades and no delays in transactions;
•MT4 and MT5 are recognized as easy-to-use and reliable solutions that are easily customized;
•The broker has low spreads, and there are no trading fees, so the trader's costs in the trading process are minimal;
•Clients can withdraw profits for free once a day. A fixed fee is charged for each subsequent withdrawal.
👎 Disadvantages of Scope Markets:
•There are many trading instruments in this broker's pool, but they are all CFDs;
•Analytics is available only for the simplest solutions, and there is no Autochartist and digests;
•The company does not offer passive income options, and there is only the Introducing Broker (IB) program.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Scope Markets Trading Signals
The main costs of a trader consist of spread, trading, and withdrawal fees. Spreads can be fixed or floating, and the second option is preferable in most cases. They can also be standard or raw (raw spreads are less, but the fee is higher). Scope Markets’ clients receive a standard floating spread that starts from 0.9 pips. However, due to the specifics of the exchange market, the real indicator will almost always be higher. This broker does not charge a trading fee. This means that traders receive a really profitable offer with minimal costs in the trading process.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Floating spread from $9, no fee | No fee for the first withdrawal per day, $35 is charged for subsequent withdrawals |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Scope Markets does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
In which form can signals be provided?
Signals can be provided as copy trading, newsletters, alerts, blog articles, etc.
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.