Scope Markets deposit bonus

Scope Markets deposit bonus

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Adding extra cash to your deposit to trade with higher volumes and turbocharge your profits is a very attractive idea. But it always depends on several things, whether the bonus is worth claiming or not. The broker must be a well-regulated and fair company and spreads and fees should be at acceptable levels. The bonus terms should not be very complicated, preventing traders from achieving their goals. Let’s analyze Scope Market's deposit bonus in detail to understand if it is worthy of claiming.

Scope Markets brief overview – Can you trust this broker?

Regulations, fund safety, low trading commissions and spreads, ability to deposit and withdraw money with ease are key aspects of Forex trading, and if the broker offers all of those, then you have found a reliable broker. 

Scope Markets is a regulated Forex and CFDs broker offering traders moderate minimum deposit requirements, from 100 USD, and maximum leverage of up to 1:500. The leverage is very flexible, as traders will be able to control considerable buying power with a relatively small trading budget. What’s more interesting is the broker does not charge fees for deposits and withdrawals, enabling traders to withdraw their funds without concerns about commissions. Scope Markets offers 347 trading instruments across popular asset classes including Forex, CFD on stocks, energies, indices, and metals. Additionally, the broker also provides access to demo and Islamic accounts and protects user funds with negative balance protection and segregated bank accounts. Negative balance protection prevents traders from going into negative amounts if they abuse leveraged trading. Scope Markets has reasonable spreads from 0.9 pips on major pairs, which are slightly cheaper than the industry average. The broker offers an excellent trading environment with MT4 and MT5 platforms and allows hedging and EAs. 

50% First-Time Deposit Bonus

The “First-Time Deposit Bonus” introduced by Scope Markets can be used by new clients of the company. The promotion is active till the end of 2023 and clients will have 90 days to complete the trading volume requirement or the bonus will be cancelled. 90 days will be more than enough when trading actively to reach all the requirements that the broker has assigned to this bonus. The bonus can be withdrawn when the client has completed the minimum trading volume of 0.125 effective round turn lot for every 0.5 USD in bonus. Since the minimum deposit is 100 USD and the bonus for this size will be 50 USD, it will require a total trading volume of 12.5 lots, which is a lot. It has to be noted that the bonus is better to use for trading purposes and making profits. The broker allows you to withdraw profits made from the deposit bonus and aims at attracting new clients who want to become experienced traders. 

General terms and conditions of deposit bonus

  • Only clients who have created their first live account with Scope Markets and deposited at least 100 USD are eligible for a 50% deposit bonus
  • The client has to complete KYC verification before they can get the deposit bonus
  • Scope Markets employees or their relatives can not participate in this promotion
  • This bonus can not be combined with other bonuses from Scope Markets
  • This offer does not apply to clients from the USA, China, Hong Kong, Macau, and Taiwan.
  • The bonus is defined to be 50% of the deposit amount, clients can get up to 50,000 USD as the bonus
  • Clients receive the bonus only for the first deposit, any subsequent deposits will not receive a bonus
  • Round turn means the client has to open and close the trade and excludes any hedged position when the client is long and short on the same instrument
  • Only metals, currencies, and energies are considered when calculating the trading volume for the bonus withdrawal
  • Scalping will not be counted as a trading volume
  • Only the client’s funds can be used as a margin meaning if the client’s funds part of the equity falls below 100% of the margin requirement, a margin call will be issued
  • When the client’s total equity reaches the bonus amount available in the client’s trading account, the negative balance protection will be turned on and all client’s positions will be closed, and trading will be halted
  • If a margin call or negative balance protection is issued, then the bonus is automatically canceled as well
  • The bonus is valid for 90 days, after which it will be deleted from the account unless trading volume requirements are completed
  • If a client submits a withdrawal request without completing the trading volume requirements for the bonus withdrawal, the bonus will be canceled
  • Arbitrage is not allowed and will result in bonus cancelation

Practical examples

Example 1: A client deposits 200 USD in their trading account. 50% of 200 or 100 USD is added to their trading account. To withdraw the bonus amount, the client will have to generate a trading volume of 25 round-turn lots on the derivatives asset classes described above within 90 days from the time of deposit.

Example 2: The client deposits 100 USD and receives 50 USD as a bonus. The client's total equity is 150 USD, but their funds are 100 USD. The client opens a 0.1 lots EURUSD currency pair with 1:500 leverage and EUR USD exchange rate of 1.15. In this case, the client’s margin requirement to open this position was 100,000 (1 lot of EURUSD) x 0.1 / 500 (leverage) x 1.15 (EURUSD exchange rate) = $23. If the client’s unrealized “Profit and Loss” goes into -78 USD, the client’s total equity will drop to 150-78= 72 USD, but the client’s funds part of the equity will drop to 100-78= 22 USD. Since only the client’s funds can be used for the margin, and it is below margin requirements, a margin call is issued for this position.

As we can see, the best use for Scope Markets deposit bonus is to generate and withdraw profits.