Scope Markets is not the CySEC firm that older write-ups still describe. On the international site the client contract is with Scope Capital Ltd, a Saint Lucia company, and that company's own forex page prices the EUR/USD ticket at $10. The column is one the page itself calls USD. The commission cell on the same row reads "US$ -", a dash rather than a posted dollar fee. A plain request for the .com homepage from this network did not stay on that retail site. It answered with a 302 to www.scopemarkets.eu, set a cookie named ENTITY=SMCM, and that host then 301'd to www.scopeprime.eu. The international path, /int/en, stayed put, set ENTITY=SCL, and named the Rodney Bay company. Anyone expecting SM Capital Markets Ltd and licence 339/17 is on a different host.
The $10 is not, on its own, an outlier. Pepperstone Limited's Razor account averaged 0.1 points on EUR/USD across August 2026 and then charges $3.50 a side on MT4 and MT5, which comes to $8.00 all-in on a standard lot once a point is read as a pip. Raw Trading Ltd's spreads table, opened the same afternoon, prints 0.01 as the raw average on the EURUSD row and $7.00 round turn on MetaTrader 4. Next to Scope Capital's indicative $10, the price gap is ordinary. The legal gap is not. CySEC's register, opened on 17 October 2026, lists the approved trade name as Scope Prime, and the domains on that row do not include www.scopemarkets.com.
Key facts
- The international contract is Scope Capital Ltd, registration 2026-00075, Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet — terms v.05.2026, retrieved 17 October 2026
- The forex page prints EURUSD spread 10 and states that spreads and swaps are in USD — scopemarkets.com forex conditions, 17 October 2026
- Classic starts from $100, Cent from $10, Pro from $500, all in USD on MetaTrader 5, stop-out 20% — account page, 17 October 2026
- Forex majors are listed at up to 1:3000 — leverage specifications page, 17 October 2026
- Pepperstone Limited's Razor average on EUR/USD was 0.1 points in August 2026, plus $3.50 a side on MT4/MT5 — pairs page, retrieved 17 October 2026
- CySEC licence 339/17 is SM Capital Markets Ltd, approved trade name Scope Prime, dated 2 November 2017 — CySEC register, 17 October 2026
- The Saint Lucia refusal list names 41 jurisdictions, including Cyprus and Saint Lucia — policy V.06.2026, retrieved 17 October 2026
Two companies, one brand
Clause 1.1 of the terms is blunt. The company is incorporated in St Lucia, registration 2026-00075, at that Rodney Bay address. Clause 1.2 adds that it was incorporated as an international business company under the International Business Companies Act. The PDF stamp is v.05.2026. The file served on 17 October carried a last-modified time of 13 October 2026. Clause 34.1 picks the law: the agreement is governed by the laws of St Lucia.
That bundle is what a person accepts. The legal-documentation page lists the terms, complaints policy, privacy notice, restricted-countries policy, risk disclosure, cookie policy and biometric policy as the agreement. None of those copies print CySEC, SM Capital Markets or 339/17.
The other company is real. It is not this contract.
On 17 October the CySEC register row for SM Capital Markets Ltd showed licence 339/17, dated 2 November 2017, company registration 346068, and a previous name of ABC 123 (CY) Limited. The address on the register is 23 Spyrou Kyprianou Avenue, Floor 4, 3070 Limassol. The approved trade name is Scope Prime. The approved domains are www.smcapitalmarkets.com, www.scopemarkets.eu and www.scopeprime.eu. The email is support@scopeprime.eu. The string scopemarkets.com does not appear on the row.
www.scopeprime.eu, which is where the .eu host sent a browser, prints a different street address: Gladstonos 116, M. Kyprianou House, 3rd and 4th floors, 3032 Limassol. The footer confirms the same licence and the same HE number. It describes liquidity and prime-brokerage services for hedge funds, brokers and other institutions. It does not offer Classic, Cent and Pro, and it does not print the $10 row.
The brand split is what the two hosts and the regulator's row say on the same day. A similar gap, between a marketing name and the company that holds the relationship, is the subject of the IronFX review. Here the names are Scope Markets, Scope Prime and Scope Capital Ltd, and only the last is on the international terms.
The register lets the Cypriot firm serve Belize, the Cayman Islands, Kenya, Mauritius, Seychelles and the UAE, which matches the Scope Prime footer. The 1:3000 line on forex majors is on the Saint Lucia page, and Scope Prime does not publish it.
The $10 on the EUR/USD row
The forex conditions table, retrieved 17 October 2026, gives EURUSD five digits, a point size of 0.00001, a contract of 100,000, minimum volume 0.01 and maximum 20. Leverage on the row is "up to 1:3000". The commission cell is "US$ -". Swaps are 2.51 on one side and minus 8.18 on the other. The spread cell is 10.
Under the table the page says spreads and swaps are in USD, and that another account currency would see them restated. The numbers are indicative. Live figures, it says, sit on MetaTrader. There is one row, not a Classic row and a Pro row.
Read literally, the ticket on a standard lot is $10 of spread and no separate commission in the published cell. On EUR/USD a one-pip move on 100,000 units is $10, because the quote currency is the dollar: 0.0001 times 100,000. A $10 spread is one pip wide. That is their contract size, not a second source. Comparisons with brokers who quote pips have to be built in dollars, or they are not comparisons.
| Firm and entity | What the page printed | Commission | All-in, 1 standard lot, round turn |
|---|---|---|---|
| Scope Markets, Scope Capital Ltd, MT5 schedule | Spread cell 10, stated to be USD, indicative | Cell reads US$ -, no dollar amount posted | $10.00 |
| Pepperstone Razor, Pepperstone Limited, MT4/MT5 | Average 0.1 points, 1 to 31 August 2026 | $3.50 per side, $7.00 round turn | $8.00 |
| Pepperstone Standard, same entity and platforms | Average 1.1 points, same August window | No FX commission on Standard | $11.00 |
| IC Markets Raw, Raw Trading Ltd, MetaTrader 4 | Table average 0.01 on the EURUSD raw columns | $3.50 per side, $7.00 round turn | $7.10 |
Pepperstone's unit is checkable. On the group costs page a worked example calls the gap from 1.134975 to 1.135025 a spread of 0.5 points. That gap is 0.00005, so one of their points is 0.0001, a pip. An average of 0.1 points is $1 of spread on a standard lot. Add the $7.00 round-turn commission on the FCA entity's pairs page and the Razor ticket is $8.00. The Standard average of 1.1 points, with no FX commission, is $11.00. Scope Capital's indicative $10 sits between those two, closer to the commission-free account than to Razor.
That pairs page is Pepperstone Limited, company 08965105, FCA 684312, 27 Old Jewry, London. It also says 73.6% of retail accounts lose money with this provider. The Saint Lucia pages print no such percentage.
Raw Trading Ltd, on the IC spreads page, says it holds Seychelles FSA securities dealer licence SD018. The intro still calls the average EUR/USD spread 0.1 pips. The EURUSD row prints raw minimum 0 and raw average 0.01, then a standard minimum of 0.8 against a standard average of 0.1. An average under the printed minimum is not usable, so the standard columns stay off the chart. MetaTrader 4 raw commission on that page is USD 3.50 a side, USD 7.0 round turn. The table cell is $0.10 of spread and $7.10 all-in. The intro's 0.1 pips would make it $8.00. Both were on the page. The chart uses the cell. cTrader on the same page is $3 per 100,000 dollars traded, per side, which is not one euro lot, so it is not folded in.
Tickmill Europe Ltd, CySEC 278/15, was left off. Its raw page states $3 a side, but the spreads table that came back had no EUR/USD figure. A floor of 0.0 pips was not turned into one.
The same rule, the broker's own schedule and the entity in the footer, is what the VT Markets review applied to a different ticket.
Three account names, one spread
The account page, retrieved the same day, offers three types and no second price list.
Classic is described as all-inclusive, with no trading commission, from $100, USD only, MetaTrader 5, leverage up to 1:3000, stop-out 20%. Cent is from $10, on the same platform, with the same cap and the same stop-out, and again with no trading commission. Pro is from $500 and is sold as ultra-tight spreads and a raw pricing model, with the same 1:3000 cap and the same 20% stop-out. Swap-free is marked on Classic and Pro, not on Cent.
Pro is the account a cost-sensitive reader would ask about, and it is the one whose EUR/USD number is missing. The forex page does not split the spread of 10 by account type. Until MetaTrader shows a live Pro quote, the only EUR/USD figure Scope Capital has published is that 10. Copy that says "raw" without a number is not a number.
The leverage page is not flat. Majors, gold, major indices, spot energies and futures are up to 1:3000. Minors, exotics, silver, shares and soft commodities are up to 1:100. Cryptos are up to 1:1000. EUR/USD takes the 1:3000 line. At that multiple a 20% stop-out can close the account while equity is still a fifth of required margin.
The terms do not cap the spread
Clause 40.2 tells the client that spreads can change at any time, without prior notice, and that there is no limit to how wide they may become. The firm may widen or narrow them for market conditions, the client profile, or the account type. News and thin liquidity are named as examples. The client is told it is their job to know the updated spread. The $10 on the website is an indication, not a ceiling. The forex page already said so, in plainer words: indicative, and look at MetaTrader.
A search of the full PDF found no use of "segregated". The legal-documentation page, the marketing around the PDF links, does say client funds are held under segregated accounts with local top-tier banks. That sentence is on the website. It is not in the contract text that was extracted.
Negative balance appears at clause 12.9, and it is a set-off. The firm may, without telling the client first, set a negative balance on one account against money in another account or in the payment wallet. That is not a promise that losses stop at the deposit. No compensation scheme is named in the terms, the risk disclosure (V.03.2026) or the complaints policy (V.03.2026). The complaints document sets an internal process. It does not name CySEC, an ombudsman, or a fund.
The risk disclosure (V.03.2026) repeats the Scope Capital footer and names no regulator. Support is support@lc.scopemarkets.com. The "lc" matches the cookie on /int/en. The .com root set ENTITY=SMCM and left.
Forty-one places that cannot open this account
The restricted-countries policy, V.06.2026, is Scope Capital Ltd's own refusal list. It names 41 jurisdictions. Among them: Australia, Canada, Cyprus, the large EU states from Austria through Sweden, and Saint Lucia itself. A resident of the island in the registered office is told this company does not offer them an account.
One line of the policy prints the registration number as 202600075, without the hyphen. The footer of the same PDF prints 2026-00075, the form used in the terms. The number is not in doubt. The typesetting is careless, and that is part of the record.
The United Kingdom and the United States do not appear on the named list. Puerto Rico, Guam and the Northern Mariana Islands do. A second heading, for blacklisted jurisdictions, sits on page 2 and added no further country names in the text of the file. Absence from a list is not an invitation. It means only that those names were not printed.
The list is the mirror image of the other firm. SM Capital Markets Ltd may serve EEA residents, Belgium excepted, and its register email is a Scope Prime address. Scope Capital Ltd tells those countries, Cyprus included, that it will not open the account. A Paris browser sent from the .com root to Scope Prime never sees the $10 ticket. A Paris resident who finds /int/en is on the refusal list. Neither path is a European retail client signing a CySEC firm called Scope Markets.
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For the rate itself, rather than the wrapper around the broker, the desk's EUR/USD forecast is a separate piece. The pip value used above does not depend on where the rate sits, as long as the quote currency is the dollar and the lot is 100,000.
What the 3.1 rating is actually for
The rating on this review is 3.1 out of 5. It is a judgement on the pages opened on 17 October 2026. It is not a score copied from another site, and it is not a view on where EUR/USD goes next.
What earns the points that are there: a spread cell a reader can audit, dated peer figures, and a contract with a version stamp, an address, a company number and a choice of law. Clause 40.2 already says the $10 can widen without notice. Printing the indication and the warning is better than printing neither.
Most of the scale stays withheld. The number is a 2026 registration. These pages print no financial licence for the Saint Lucia company. Majors run to 1:3000 and the stop-out is 20%. Segregation is a website sentence, not a word in the terms. The famous licence sits on SM Capital Markets Ltd, trade name Scope Prime, with a register address that does not match the website and with approved domains that leave out the .com host. Residents of the place of incorporation are refused.
The reader that fits is outside those 41 jurisdictions, has read clause 34.1, and treats $10 as an indication. Next to Pepperstone's Standard average of $11, the published maths is not expensive. The reader who wanted Limassol, the 2017 licence and a retail cap is at the wrong door. Scope Prime is the other door, and it does not sell this schedule.
Nothing here is an instruction to open an account or to avoid one. It is a description of which company the international pages name, and what those pages charge on one symbol. Capital is at risk on every schedule in the table, including the cheaper-looking raw accounts, because the spread is only the entry cost.
Questions the footer does not answer
Who do I actually contract with?
On the international site the terms name Scope Capital Ltd, registration 2026-00075, at the Ground Floor of The Sotheby Building in Rodney Bay, Gros-Islet, Saint Lucia. The May 2026 version says the agreement is governed by the laws of St Lucia. The homepage, the account page and the forex page repeat that footer. They do not name SM Capital Markets Ltd.
Is the CySEC licence on this contract?
Not on the pages that form the Saint Lucia agreement. Licence 339/17 is printed on the CySEC register and on www.scopeprime.eu, both for SM Capital Markets Ltd, approved trade name Scope Prime. The register's approved domains include scopemarkets.eu and scopeprime.eu. They do not include www.scopemarkets.com, the host that published the $10 row.
What does one standard lot of EUR/USD cost?
The indicative spread cell is 10, and the page says that figure is in USD. The commission cell is a dash. On the published schedule that is $10 of spread, with no separate commission posted. Pepperstone's Razor average for August 2026 works out at $8.00 all-in, and its Standard average at $11.00. The firm says live spreads are on MetaTrader, and the terms allow the spread to widen without notice.
What are the minimums, the platform and the leverage?
Classic is from $100, Cent from $10, Pro from $500. The account cards offer USD and MetaTrader 5 only. Stop-out is 20% on all three. Forex majors, which include EUR/USD, are listed at up to 1:3000. Pro is described as raw pricing, but the forex table does not publish a separate Pro spread.
Can a resident of the EU, or of Saint Lucia, open this account?
The V.06.2026 policy says no. The named list includes Cyprus, the large EU states, and Saint Lucia itself, 41 jurisdictions in all. A browser pointed at the .com root from a network the server treated as European was redirected to Scope Prime, rather than shown this schedule.
Does the contract promise negative-balance protection or a compensation fund?
The terms opened today do not. Clause 12.9 lets the firm set a negative balance on one account against money in another. No compensation scheme is named in the terms, the risk disclosure or the complaints policy. A line about segregated custody appears on the legal-documentation page, and the word does not appear in the terms PDF.
This is analysis, not a recommendation to open or close an account. Contracts for difference and other leveraged products can wipe out the capital committed to them, and losses can exceed the spread discussed above. Figures are taken from the pages named, as retrieved on 17 October 2026, and they are not a live quote from a trading platform. The Rodney Bay photograph shows the bay in the registered address, not the interior of The Sotheby Building.