Scope Markets Expands with Over 500 New Stocks on Offer
Scope Markets, a subsidiary of the Rostro Group, is ramping up its retail offerings significantly by introducing over 500 individual stocks. These additions encompass stocks listed on the stock exchanges in Canada, Austria, and Hong Kong.
According to Joshua Mahony, Chief Market Analyst at Scope Markets, clients are actively seeking access to trade individual stocks. He pointed to this product expansion as a response to this demand. Mahony noted that despite potentially elevated valuations in the face of tightening monetary policies, markets are witnessing more substantial movements in individual stock prices driven by fundamental factors. Even a slight earnings beat can lead to a significant uptick in a company’s performance.
Last year, Rostro Financial Group completed an all-cash acquisition of Scope Markets, further solidifying its position in the retail trading arena.
Earlier in the year, Scope Markets made headlines when it announced its re-entry into the Chinese market. This move followed its exit from China in 2021, prompted by regulatory challenges and economic conditions that impacted demand for its services. Pavel Spirin, CEO of Scope Markets, clarified that while they technically exited China, they maintained “selected legacy relationships.”
Global Trading Growth
Under Rostro’s guidance, the Scope Markets brand is now extending its footprint into the Middle East and various other Asian regions. Remarkably, it holds one of the few licenses for operation in Kenya.
This expansion in product offerings also underscores the growing appetite among global traders for stocks listed in Asian markets. Mahony highlighted the heightened demand for Hong Kong-listed stocks, which are reacting to indicators of a slowing Chinese economy and rumors of potential stimulus measures from Beijing.
Scope Markets’ strategic move to broaden its offerings is indicative of its commitment to catering to the evolving demands of retail traders and its drive to become a prominent player in the global trading landscape.