Scope Markets is the registered trading name for SCFM Limited, a private company registered in Kenya under Incorporation number PVT-GYULYYG, authorised and regulated by the Capital Markets Authority, as a non-dealing online foreign exchange broker, Licence No 123.
Its registered address is Westside Tower, 4th Floor, Office 402 and 403, Lower Kabete Road, Nairobi and of P.O Box 2763-00606 Nairobi Kenya.

Opening an account with SCOPE MARKETS is simple. You need to click on the following link https://www.scopemarkets.co.ke/, fill in your details, and you will be redirected to SCOPE MARKETS portal where you will have detailed steps on how to get your account up and running. You can easily start using the WEB TRADER, by clicking here or download the MT5 either on your desktop or on your mobile phone (compatible with Android and iOS). Once you fund your trading account you are ready to start!

Yes, you can. Please contact support@scopemarkets.co.ke to provide you with the relevant forms.

We offer TWO different types of trading accounts: Silver and Gold. Please visit the following link for more information: https://www.scopemarkets.co.ke/products/accounts.

The Know your Customer (KYC) process is a mandatory process in which we conduct due diligence to verify the identity of the client. This process is conducted to protect the company from any form of financial crime such as money laundering, identity theft and terrorism financing.

You need to provide us with proof of identification document such as your Identity card/Passport/Driving License and a proof of residence such as a utility bill/bank statement issued within the last 6 months, excluding the KRA Pin Certificate.
Please note that the company reserves the right to request for any other additional documents to satisfy themselves as to the true identity of the client.

Please login to your SCOPE MARKETS account, and go to Documents section. Then drop the file in the specified space or browse your computer to upload. Then press ‘+ ADD DOCUMENT’ for the successful submission of your document.

In case you wish to provide us with additional documents, you might also send them to support@scopemarkets.co.ke.

Upon submission of proper identification documents, your account will be verified within three (3) hours. Please note the process may take longer but no more than 24 hours.

Please log into your account and click on the Account Info section. You have the options to update the following fields: Name, Last Name, Address, City, Postal Code, Country, Date of Birth and Phone Number. Changes are applied immediately after you press on Update. In case you wish to update any additional information contact support: support@scopemarkets.co.ke.

Please send an email request to: support@scopemarkets.co.ke.

The minimum amount for deposit is 50 USD. We do not charge for bank wire transactions. However, the sending and correspondent bank may charge according to their own fee structure. Should you have any questions about fees or any other charges please contact support@scopemarkets.co.ke.

Our website is protected by SSL (Secure Socket Layer). All sensitive information submitted by our clients is automatically transferred by SSL to a secure environment. Our cashier is PCI Level 1 Merchant compliant and ensures that all your data is secured.

SCOPE MARKETS does not charge any fees on deposits with the exception of Bank Transfers. You may be charged fees from your bank.

You can transfer funds through MPESA and other Mobile Money Services, Credit Card (Visa or Mastercard), Wire Transfer and several other alternative methods. All the details are made available in the deposit section in your SCOPE MARKETS portal.

Accepted currencies per payment method are available in the deposit section in your SCOPE MARKETS portal.

No. SCOPE MARKETS does not accept any third-party payments.

Yes, if the accounts have been created under the same email address, this can be easily done from your dashboard.

When you want to withdrawal money from your account you need to login to the SCOPE MARKETS portal. Click on the Withdraw tab from the menu on the left-hand side of the webpage and complete the relevant information. You cannot proceed with a withdrawal request if your trading account has not yet been verified. You can withdraw only your available balance. Please always consider the amount you want to withdraw when you have any open positions.

For joint accounts, withdrawal request made through portal is deemed agreed by the account holders.

For corporate accounts, only the authorised signatory can request a withdrawal unless there is a given Special Power of Attorney to an agent or representative. For corporate accounts, the beneficiary bank account must be in the name of the Company.

The minimum amount for Mpesa and mobile money withdrawal is 50KES as per mobile service provider.

Withdrawals can be requested anytime. Mpesa and Mobile Money requests are instant (within 10 minutes). Bank requests after 5:00 GMT+3 will be processed the next business day. Turnaround time is 1 – 2 business days from the date of receipt of the request. For Wire Transfer and Debit/Credit Card, processing time can take up to 3-5 business days. International Telegraphic Transfers (TT) usually takes 3-8 working days depending on the banking procedure of the beneficiary bank.

Withdrawals are processed via MPesa, Mobile Money and Bank Transfers to the same client who made the deposit.

Once the withdrawal request is approved, the amount will be automatically deducted from the platform and reduce the free margin available to trade and maintain any open positions.

You may request a withdraw as many times as you deem necessary.

We don’t charge any withdrawal fees. Any fees charged go to the processing merchants.

Once the withdrawal request is approved, it can no longer be cancelled. If the withdrawal has not been approved yet, you can cancel it through your portal, under Withdraw tab. There, you can see the pending request and cancel it by pressing on the bin under the Actions tab.

US Shares are shares listed on a stock exchange in the United States (US) such as the New York Stock Exchange (NYSE) or shares dual listed on a stock exchange in the US and another country.

The Internal Revenue Service (IRS) part of the US federal government Treasury Department, and is the agency responsible for the collection of taxes and enforcement of compliance with US tax laws.

The US levies withholding tax at source on US source investment income such as dividends and interest not exempted from withholding. All clients trading in US Shares with Scope Markets will be required to fill in and submit an IRS tax form before activation of the US Shares on the MT5 trading Platform.

Generally, capital gains on US Shares earned by non-US persons are not subject to taxation by the IRS. Only the income earned will be subject to taxation. Should you need any further clarification on your tax obligations in your country of tax residence, please contact an independent tax advisor.

Investment income, e.g. dividends, earned on US shares will be subject to 30% Withholding Tax, with the net income credited to your account. You may be subject to tax on your profits and losses under local tax laws. Should you need any further clarification on your tax obligations in your country of tax residence, please contact an independent tax advisor.

The IRS requires Scope Markets to identify and classify all beneficial owners of accounts opened with Scope Markets. Individuals are normally classified as either US non-exempt recipients or non-US persons. For further information please click here. Corporate customers are classified based on the type of entity they are for US tax purposes and whether they are beneficial owners or intermediaries other under the application of US tax rules. For more details please refer to the instructions to the tax forms.

Scope Markets does not accept any application for a trading account by persons who reside in the US, irrespective of whether they are US citizens or not. Scope markets reserve the right to consider on a case by case basis applications from US citizens, dual nationals and green card holders.

Non-US individuals should provide a form W-8BEN. US taxpayers resident outside the US are required to provide a Form W-9.

Corporate account holders will need to provide one or more of the following forms, depending on whether the corporate account holder is classified as the beneficial owner of the income on US share trading.

Generally:
A non-US corporate account holder who is the beneficial owner of the income will usually complete a Form W-8BEN-E.

An entity account holder exempt from taxation will complete either a Form W-8BEN-E or Form W-8EXP.

A corporate account holder who is not the beneficial owner of the income will complete a Form W-8IMY and provide copies of the IRS tax forms for the underlying beneficial owners, accompanied by a withholding statement.

Persons who are US citizens, dual citizens and green card holders currently residing outside the US should provide a Form W-9.

NEXT is the Nairobi Securities Exchange (NSE) derivatives market that facilitates the trading of futures contracts in the Kenyan market. NEXT is regulated by the Capital Markets Authority (CMA).

The Margin required for any of the products is determined by the exchange https://www.nse.co.ke/derivatives/market-notices/. However, there is an additional margin requirement of 10% by the clearing member.

For example:

If the Margin required by the exchange on ABSA is KES 1600, then the clearing member will charge an extra margin of 10% which is KES 160, the total Margin required to place the trade will then be KES 1760.

The leverage is computed as below:

Leverage = (Contract Size*Price) / (Contract Size*Price*Margin)

No, dividends are not paid on NSE Derivatives

Deposits are processed within 5 minutes, while withdrawals are processed on T+1.

Please contact support@scopemarkets.co.ke and your account will be created as soon as possible.

If you have already opened a trading account and you made your first deposit, then you are ready to start!

Yes, you can have up to 5 trading accounts.

SCOPE MARKETS does not offer Portfolio Management Services. The client is solely responsible for his trading account and he decides based on his own judgment.

1. Understand the risk of trading on leverage and how FX and CFD’s work
2. Try to make informed decisions when trading
3. Monitor the status of your open positions
4. Use risk management tools like stop loss and take profit orders

There are different commissions and charges according to the Account Type you have chosen. Please contact support@scopemarkets.co.ke for more information.

Yes, we do! You cannot lose more than your original investment amount.

We offer 1:100, 1:200 and 1:400. If you wish to change your leverage, please contact support@scopemarkets.co.ke.

By setting “Close at profit” (Take Profit) and “Close at Loss” (Stop loss) when opening a position or a pending order or when editing an existing position. These orders allow you to set a specific rate at which your position will close, in order to protect your profit or/and minimize your loss. However, these orders do not guarantee that the position will close at the exact rate you have set. If the market is very volatile and/or there is very little liquidity in the market, there is the possibility that the position will be closed at the next available price. This is known as Slippage.

MetaTrader 5 (MT5) is a trading platform developed by MetaQuotes Software for online trading in forex, contract for differences (CFDs) and futures markets. The MT5 platform can be accessed through a website or can be downloaded on your computer or any smart device.

MT5 can be downloaded on desktop, charge free, directly from https://download.mql5.com/cdn/web/14542/mt5/scfmlimited5setup.exe, or on a smart device.
For iOS: https://download.mql5.com/cdn/mobile/mt5/ios?server=SCFMLimited-Demo2,SCFMLimited-Live2 and
Android: https://download.mql5.com/cdn/mobile/mt5/android?server=SCFMLimited-Demo2,SCFMLimited-Live2

The FX markets are generally open 24 hrs a day, 5 days a week. More specifically from Sunday at 5pm EST to Friday at 5pm EST. For more details on each trading instrument you can login to your MT5 Account, right click on the instrument, a new window will open for you and you need to click on Specification.

If a trade is kept open overnight (past 5pm EST), then there is a swap calculated on that position. If you keep your spot position open on Wednesday, the swap is charged three times the rate except of USD/TRY (triple charge on Thursdays).
For Cryptos the swap is charged at triple rate on Fridays.
There is no swap charge If you keep your Future position open overnight.

The platform is closed on the weekend.

You may change your password from SCOPE MARKETS Portal https://portal.scopemarkets.co.ke/#/update-password. For your own safety and privacy, we recommend you to change your password every three months.

IBs receive a highly competitive compensation package when they introduce clients to SCOPE MARKETS. For further information please send an email to support@scopemarkets.co.ke.

Yes, we do. Please send an email to support@scopemarkets.co.ke.

Yes, we do. Please send an email to support@scopemarkets.co.ke.