Score Capital Markets FX Broker Reviewed and explained

Score Capital Markets Broker review — Safety, assets, support, and many more!

Score Capital Markets or ScoreCM broker is a Forex and CFDs brokerage firm established in 2024, making it very inexperienced in its sector. Experience is critical in the Forex brokerage scene as it is tightly regulated and companies have to follow strict rules and regulations while also maintaining a competitive edge over others. ScoreCM broker offers several account types including standard, pro, and elite. The broker also allows access to the advanced trading platform, MetaTrader 5 (MT5). The broker is regulated in Dominica and Comoros (MWALI), but both of these regulators are offshore regulators.

The Safety and Security of Score Capital Markets

The broker is overseen by the Financial Services Unit of the Commonwealth of Dominica. Another regulator overseeing the broker is the Autonomous Island of Mwali (Mohéli). Despite having two licenses, the broker is still regulated by offshore authorities which are not as strict as reputable regulators. However, having two licenses is much better than being unregulated.

ScoreCM broker does not provide negative balance protection, meaning traders can go into minuses and lose more than their initial investment, potentially making them liable to pay back funds if their balance falls below zero. The lack of negative balance protection is a major red flag that can not be underestimated.

The broker is part of the investment protection fund, meaning traders can get part of their funds back in case the broker goes bankrupt.

Score Capital Markets Fees and Spreads

The broker offers several account types and each of them has slightly different spreads. The Score Capital Markets standard account has a 1 pip spread on major FX pairs which is competitive as no commissions are charged for this account. The Pro account offers spreads from 0.2 pips on major FX pairs but charges commissions of 3.5 USD per side per lot accounting for a 7 USD round turn. The Elite trading account by Score Capital Markets offers spreads from 0.1 pips and also has a 7 USD round turn (3.5 per side). Metals have spread from 25 cents (0.25 USD) for metals on standard, from 15 cents for Pro accounts, and 0.15 on Elite trading accounts, which is competitive. These spreads on Gold and other metals are competitive. However, the broker does not offer 0 pip spreads on accounts on which it charges commission making EURUSD trading still expensive, especially for scalpers, as this pair is known for its tiny movements.

Score Capital Markets Accounts, Deposits, and Withdrawals 

ScoreCM offers several trading accounts including Standard, Pro, and Premium.

ScoreCM Standard account

The standard trading account by Score Capital Markets is for general trading purposes and offers spreads of 1 pip. This is competitive for standard accounts and there are no commissions charged. The leverage is pretty high: up to 1:1000, which is more than enough to control large trading sizes with relatively small capital. Average spreads are from 1.2 pips on major pairs. Spreads on metals are from 0.2 cents and 0.25 cents on average. Here are other specs:

• Minimum deposit – 10 USD
• Commissions – 0 USD
• Swap free – No
• Crypto spreads – From 30 USD on BTC
• Margin Call / Stop out – 100% / 30%

ScoreCM Pro account

The pro account has lower spreads from 0.2 pips but charged commissions of 3.5 USD per side per lot (7 USD round turn).

Here are other important specs for the Pro account:

• Minimum deposit – 100 USD
• Commissions – 3.5 USD per side per lot
• Swap free – No
• Crypto spreads – From 25 USD on BTC
• Margin Call / Stop out – 100% / 30%

SCoreCM Elite account

The Elite trading account has the lowest spreads of the three accounts starting at 0.1 pips. However, it charges commissions of 7 USD per round.

Here are all the other specs:

• Minimum deposit – 1000 USD
• Commissions – 3.5 USD per side per lot
• Swap free – No
• Crypto spreads – From 15 USD on BTC
• Margin Call / Stop out – 100% / 30%

Deposits and Withdrawals

When it comes to deposits and withdrawals, the broker accepts several payment methods such as bank transfers, cryptos, and several online payment options. Most payment options take 1-2 business days to get withdrawals but some of them are processed within the same working day, at least that’s what the broker claims. There are no fees charged for withdrawals on any of the payment methods, which is very competitive.

Score Capital Markets Trading Platforms, Assets, and Features

The broker provides access to an advanced trading platform, MetaTrader 5 (MT5). The platform allows both custom indicators and automated trading systems (Expert Advisors, EAs). The broker also allows EAs, which can be super useful for algo traders. However, because of commissions and high leverage, traders should be careful not to lose money.

Assets

The broker offers access to a wide range of markets such as Forex pairs, indices, commodities, shares, and cryptos. Forex pairs include major and minor pairs, and there are a few exotics as well. Commodities include precious metals and energies. From cryptos BTC and ETH are offered as well. The leverage is up to 1:1000 on standard and 1:500 on other account types, which is more than enough to control considerable position sizes.

Bonuses and Extra Features

The broker has several bonuses including a trade bonus, deposit bonus, and refer-to-friend program. The trade bonus minimum deposit amount is 50 dollars. The broker allows all profits made using this bonus to be withdrawable but traders can not withdraw the bonus itself. This bonus is only for new customers and is automatically credited.

Score Capital Markets Education

ScoreCM offers several educational resources including trading courses, lessons, and a glossary From trading tools there are autochartist, economic indicators, and news. The broker also provides MT5 tutorials allowing traders to learn the platform’s ins and outs.

Score Capital Markets Customer Support Review

The broker provides several customer support options such as live chat, email, phone support, and FAQ section. The availability of phone support is crucial for traders to contact the broker quickly and manage positions if there is an internet issue. There is no multilingual support which is a downside.

Overall, ScoreCM provides good support with diverse support options.

Should you consider Score Capital Markets? 

In the end, Score Capital Markets is a forex and CFDs broker that has both pros and cons. It is regulated but mostly in offshore jurisdictions. The broker does not offer negative balance protection which is very risky as the maximum leverage is up to 1:1000. Spreads are mostly competitive and the minimum deposit starts from 10 dollars on the standard account. Traders can access multiple markets using the advanced MT5 trading platforms and EAs are also allowed. The broker is also young which is a red flag, as it lacks experience in the brokerage scene.

FAQ on Score Capital Markets