Score Capital Markets Review

Score Capital Markets - better known as ScoreCM - is a relatively new offshore broker that entered the scene in 2023. They’re registered in Dominica and licensed by the Mwali International Services Authority (MISA). They also list a physical office in Funchal, Madeira, Portugal. One of the standout features here is that ScoreCM accepts clients from the U.S. , which is becoming increasingly uncommon among offshore providers.

This broker offers trading exclusively through the MetaTrader 5 (MT5) platform. Traders have access to 59 instruments in total, including 39 forex pairs, 6 indices, 4 commodity futures, 7 metals and 5 crypto pairs. Their MT5 platform is available via desktop, mobile (iOS and Android) and WebTrader. That said, MetaTrader 4 (MT4) isn’t supported, so traders who favour the older platform may need to bear that in mind.

ScoreCM features three distinct account types, each aimed at different trading preferences:

• Standard Account - $10 minimum deposit, spreads from 1.0 pips, zero commissions and leverage up to 1:1000.
• Pro Account - $100 to start, spreads from 0.2 pips, $3.5 per lot per side in commissions and leverage capped at 1:500.
• Elite Account - Requires a $1,000 deposit, spreads from 0.1 pips, same $3.5 commission per lot per side, but with leverage is limited to 1:100.

New users can take advantage of a 25% welcome bonus, up to a maximum of $2,000. For example, depositing $1,000 would give you a $250 bonus, leaving you with $1,250 in total trading capital. The bonus is credited once your account is verified and is limited for use while trading and it can’t be withdrawn.

Funding methods include wire transfers, a range of popular cryptocurrencies (Bitcoin, Ethereum, Tether), and e-wallets such as Payment Asia and Stickpay. The broker’s KYC process is slightly more detailed than some, which isn’t surprising given their support for U.S. traders.

There are a few things (potential drawbacks) worth noting:

• Platform Availability: Only MT5 is offered - MT4 users will need to adapt.
• Commissions: The Pro and Elite accounts carry a $3.5 commission per lot per side, which is on the higher side, especially when paired with spreads that aren’t the tightest.
• Leverage Tiers: Leverage varies widely by account type. Oddly, the Standard Account allows up to 1:1000, while the Elite Account is limited to just 1:100.
• Risk Protection: The broker doesn’t clearly mention whether it offers negative balance protection or keeps client funds in segregated accounts.

When it comes to their educational offering, ScoreCM has done an outstanding job. They provide a comprehensive learning program that is split into four levels - Beginner, Intermediate, Advanced and Master. The courses cover many of the core essentials like trading psychology, risk management and technical and fundamental analysis - making them a very helpful addition for newer traders.

In summary, ScoreCM offers a decent offshore trading setup with flexible account options, a generous sign-up bonus and educational content that adds value. However, prospective users should consider the lack of MT4, the commission structure and the uneven leverage offerings before getting started. Still, for U.S.-based traders seeking offshore access, ScoreCM is one of the few remaining options worth a closer look.