SCORECM is a relatively new offshore forex broker offering competitive trading conditions like high leverage, a range of instruments, and fast execution on MT5. However, it remains largely unregulated, which exposes traders to elevated risks. It suits beginners and scalpers with modest capital but demands caution due to transparency and regulatory concerns.
How does SCORECM cater to forex traders?
SCORECM operates from Dominica and Mwali as an offshore broker, providing access to forex pairs, indices, commodities, metals, cryptocurrencies, and shares via the MT5 platform. It offers three account types—Standard, Pro, and Elite—with variable minimum deposits and leverage up to 1:1000 for smaller accounts. The broker emphasizes fast execution, multiple payment methods, and educational resources targeting trader development.
Key features include:
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Trading platform: MetaTrader 5 with full technical analysis tools
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Account types:
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Standard: $100 minimum, spreads from 1.0 pips, leverage 1:1000
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Pro: $1,000 minimum, spreads from 0.2 pips, leverage 1:500
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Elite: $50,000 minimum, spreads from 0.1 pips, leverage 1:100
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Asset diversity: Over 40 forex pairs, 6 index CFDs, metals (gold, silver, platinum), energy CFDs (oil, natural gas), and crypto CFDs
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Support for crypto deposits and quick withdrawals
What are the advantages and risks of trading with SCORECM?
SCORECM provides attractive conditions such as low entry points for beginners, high leverage, and tight spreads, which make it a potential choice for scalpers and active traders. The MT5 platform supports advanced custom indicators, aiding sophisticated strategies. However, concerns include offshore regulation that may limit client protections and incomplete transparency regarding ownership and management.
Advantages:
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Low minimum deposit ($10 per WikiFX, though emphasized $100 for Standard account elsewhere)
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Wide payment options including cryptocurrencies
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Competitive spreads—especially on Pro and Elite accounts
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Comprehensive educational materials classified from beginner to master levels
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Fast account funding and withdrawals without commission
Risks:
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Unregulated status, increasing counterparty risk
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Limited company transparency on ownership and leadership
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Potential spread widening during high-volatility events
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Limited advanced customer support options like live chat
Which instruments and trading conditions does SCORECM offer?
SCORECM covers a broad set of tradable instruments suited for diversifying portfolios:
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Forex pairs: 40+ major and minor currency pairs
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Indices: 6 CFDs including US Dollar Index and baskets of blue-chip stocks
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Precious metals: Gold, silver, platinum, palladium CFDs
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Energy commodities: Crude oil (WTI, Brent), natural gas CFDs
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Cryptocurrencies: Bitcoin, Ethereum, Litecoin, and other popular crypto CFDs
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Shares: Selected equities CFDs
Spreads and leverage vary by account:
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Standard: Spread from 1.0 pip, leverage up to 1:1000
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Pro: Spread from 0.2 pips, leverage up to 1:500
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Elite: Spread from 0.1 pips, leverage up to 1:100
SCORECM Trading Conditions at a Glance
| Account Type | Min Deposit | Leverage | Spread (EUR/USD) | Suitable For |
|---|---|---|---|---|
| Standard | $100 | Up to 1:1000 | From 1.0 pips | Beginners and casual traders |
| Pro | $1,000 | Up to 1:500 | From 0.2 pips | Intermediate scalpers |
| Elite | $50,000 | Up to 1:100 | From 0.1 pips | Experienced high-volume traders |
Why is SCORECM considered unverified and what does that imply?
SCORECM is largely unregulated or only lightly regulated in offshore jurisdictions such as Dominica and Mwali. Its absence from major financial authorities’ registries means it carries an “unverified” risk label. This classification means traders have limited recourse in legal disputes and fewer guarantees for client fund segregation or financial audits, which is critical when prioritizing capital safety.
Unverified status entails:
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Lack of oversight by top-tier regulators (e.g., FCA, ASIC, NFA)
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Higher risk of brokerage operational or financial issues
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Potential absence of investor compensation schemes
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Need for heightened personal due diligence
Who benefits most from trading with SCORECM?
SCORECM is suited for traders who seek high leverage, advanced MT5 features, and lower initial deposits. Beginners attracted by educational content and tailored account types may find it a good learning platform. Scalpers appreciate its quick execution and tight spreads in professional account tiers. However, conservative investors or those requiring strict regulatory safeguards should look elsewhere.
Ideal for:
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Beginner traders starting with modest capital
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Scalpers and short-term traders who need fast execution
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Crypto traders looking for diverse CFD offerings
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Traders interested in high leverage trading
Less suitable for:
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Traders prioritizing strict regulatory protection
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High-net-worth investors wanting extensive asset diversification and compliance
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Long-term investors valuing broker transparency and stability
Are SCORECM’s fees and commissions competitive?
SCORECM adopts a fee structure competitive with industry norms for offshore brokers. Spreads tighten significantly in Pro and Elite accounts, promoting scalping and high-frequency strategies. The broker does not charge deposit or withdrawal commissions, although market conditions might cause spread fluctuations, especially during news events. Transparency in fee disclosure is improving but requires scrutiny.
Key fee points:
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Spread on major forex pairs: 1.0-1.5 pips (Standard), 0.2 pips (Pro), 0.1 pips (Elite)
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Commissions vary depending on account type, some offering raw spreads with a commission model
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No deposit or withdrawal fees claimed
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Overnight interest rates competitive within the industry average
When and how can traders access SCORECM services and support?
SCORECM provides support via email and phone during trading weekdays, with some reports noting absence of live chat as a drawback. The MT5 platform offers extensive 24/7 trading in crypto CFDs, while forex and other markets follow market hours. Educational courses and FAQs add value for new traders, though more video tutorials are suggested to enhance learning.
Support and availability:
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Customer support mainly weekdays via email and phone
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Trading on MT5 platform daily (24/7 for crypto, regular hours for other assets)
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Educational resources organized by skill level
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Withdrawal processing is fast, especially with crypto methods
Does SCORECM offer any educational resources or risk management tools?
Yes, SCORECM provides layered trading courses categorized from beginner to master levels covering technical analysis, fundamental analysis, and trading system development. The broker also integrates standard risk controls such as stop loss and take profit orders. However, advanced risk education and interactive tutorials are limited compared to top brokers.
Educational offerings:
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Multi-level trading courses on their website
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Guides on margin, leverage, and risk management basics
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Some technical and fundamental analysis tutorials
Risk management tools:
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Standard order types (e.g., stop loss, take profit)
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Adjustable leverage based on account type
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Margin call and stop out levels set at 25% and 20% respectively
What sets SCORECM apart from other offshore brokers?
SCORECM distinguishes itself by focusing on trader education, offering a wide range of CFDs including cryptocurrencies without third-party wallets, and providing high leverage up to 1:1000 on smaller accounts. Its choice of the robust MT5 platform and competitive spreads on professional accounts present an attractive package for certain traders despite the offshore regulatory concerns.
Comparison Snapshot: SCORECM vs Typical Offshore Broker
| Feature | SCORECM | Typical Offshore Broker |
|---|---|---|
| Regulation | Offshore, unverified | Often unregulated |
| Platform | MetaTrader 5 | Custom or less known |
| Leverage | Up to 1:1000 | Generally up to 1:500 |
| Asset Variety | Wide range including crypto | Limited CFD selection |
| Education | Extensive courses | Minimal or none |
| Deposit Methods | Wide, including crypto | Limited payment options |
Has SCORECM built a positive user reputation?
User reviews highlight fast order execution, tight spreads on Pro and Elite accounts, and positive experiences with crypto funding and withdrawals. Beginner-friendly materials and functional platform features receive good marks. However, some traders mention slower customer support response times and regulatory concerns, emphasizing that suitability depends on risk tolerance.
Overall user sentiment:
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Positives: Fast execution, good for scalping, extensive educational resources, seamless crypto deposits/withdrawals
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Negatives: Lack of regulation, occasional spread widening during news, limited live support
Summary and Recommendations
SCORECM offers an appealing entry into forex and CFD trading with attractive leverage, robust MT5 platform use, and extensive educational content, making it suitable for beginners and active scalpers. However, its offshore unverified status introduces risk factors that demand caution. Prospective traders should conduct thorough due diligence, test the platform with demo accounts, and adopt prudent risk management strategies to safeguard capital.
Frequently Asked Questions
1. Can I trade cryptocurrencies on SCORECM?
Yes, SCORECM supports a range of cryptocurrency CFDs with no third-party wallet needed, enabling fast deposits and withdrawals.
2. Is SCORECM regulated and safe?
It is an offshore, unverified broker, which means limited regulatory oversight and higher risk for traders.
3. What is the minimum deposit to start trading?
The minimum deposit generally starts at $100 for the Standard account, with more flexible deposits noted in some reports.
4. Does SCORECM offer demo accounts?
Yes, traders can open demo accounts to practice and explore the MT5 platform risk-free.
5. How competitive are the spreads at SCORECM?
Spreads vary by account type, with Standard accounts starting at 1.0 pips and Elite accounts offering as low as 0.1 pips on major pairs.