Scope Markets ramps up offering with addition of 500 stocks
Belize-based FX and CFDs brokerage Scope Markets has expanded its tradable universe of securities by adding over 500 single stocks. These stocks cover markets in Canada, Hong Kong, and Austria, which marks yet another stage of its decisive move into the surging arena.
This expansion brings the total number of global equity markets accessible to Scope Markets’ clients to 11, and the number of individual stocks available to more than 40,000. The company said it will continue to add new instruments across multiple asset classes to reflect the evolving demands of clients.
The multi-asset platform broadens its product line as clients’ desire to garner exposure to stock markets has been increasing. The inclusion of single stocks not only helps expand trading capabilities for its existing clientele but also attracts more traders that are looking to diversify their trading options.
The case for adding more assets has been growing in recent years as the company’s clients from certain regions are keen to actively trade global stocks.
Joshua Mahony, Chief Market Analyst at Scope Markets, commented: “Clients continue to look for access to trading single stocks. Valuations may still look toppy as markets gain ground in the face of tightening monetary policy, but what we’re also typically seeing now are far bigger moves in underlying share prices off the back of fundamentals. Even a modest earnings overshoot can deliver a significant jump in a company’s fortunes.”
Mahony added: “The Hong Kong market is especially in demand right now, with stocks reacting to signs of the slowing Chinese economy, as well as responding to the frequent rounds of chatter that fresh stimulus measures will be delivered from Beijing.”
Earlier this year, Rostro Financials Group, a fintech group focused on capital markets and digital assets, completed the acquisition of Scope Markets.
The financial details of the transaction were not disclosed, but Rostro has bought the retail broker in an all-cash deal. Scope Markets , which is domiciled in Belize and regulated by the International Financial Services Commission (IFSC), was controlled by UAE-based entrepreneur Serkan Ismailoglu. The Middle East-focused broker also operates regulated entities in Africa, Cyprus and Mauritius.
The deal also plays into a long-term vision for Rostro, which operates multi-regulated brokerage houses that provide execution, and clearing of both listed securities as well as OTC derivatives. In addition, the group offers banking, alternative finance, and digital asset storage with both on and off ramp solutions.