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Scope Markets vs Covenance
Both forex brokers have built a positive reputation, and feedback from our members supports that.
That said, Scope Markets currently holds a stronger overall rating (4.8) than Covenance (0).
Scope Markets has a lower minimum deposit, at 10.0.
Both platforms offer their clients demo accounts, mobile trading, MAM/PAMM.
Traders should note that
both companies offer the same minimum lot size 0.01, but Scope Markets has a maximum lot size of 500.0, while Covenance offers 100.0.
Scope Markets offers a greater leverage limit of 1:1000, whereas Covenance allows a maximum of only 1:100.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
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Overall Rating:
Platform:
Pricing:
Customer service:
Features:
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| Minimum deposit ($) | 10.0 | 30.0 |
| Commission | 7.0 | 12.0 |
| Accepting US clients? | ||
| Swap free accounts | ||
| Segregated accounts | ||
| Interest on margin | ||
| Managed accounts | ||
| Accounts for money managers (MAM, PAMM) | ||
| One click trading | ||
| API | ||
| OCO orders | ||
| Trading over the phone | ||
| Hedging allowed | ||
| Trailing stops | ||
| Mobile trading | ||
| Scalping allowed | ||
| Bonuses | ||
| Demo Accounts | ||
| Web based trading | ||
| Contests | ||
| Decimals | 5 | 5 |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | 500.0 | 100.0 |
| Spread | Variable | Variable |
| Broker type | STP, ECN | STP, ECN, Cent |
| Maximal leverage (1:?) | 1000 | 100 |
| Availability | STP, ECN | STP, ECN, Cent |
| Regulation | FSA (Seychelles), CySEC (Cyprus), FSC (Belize), FSCA (South Africa), FSC (Mauritius), CMA | - |
| Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 5 (MT5) |
| Funding/Withdrawal methods | Wire Transfer, Credit Card | Bitcoin, Crypto, USDT |
| Account Currency | USD | USD |
| Languages | English, Spanish, Mandarin, Arabic, Vietnamese | English |
| Country | Belize | Comoros |
| Trading platform(s) timezone | Cyprus, Kenya, Seychelles, South Africa | Comoros |
| Other trading instruments | - | - |
| spreads | ||
| EUR/USD | - | - |
| GBP/USD | - | - |
| USD/JPY | - | - |
| USD/CAD | - | - |
| XAU/USD | - | - |
