Score Priority review and test – Scam or not?

How to trade

As mentioned, Score Priority is not in any way set up for novice traders. There’s no social trading. And there are precious few educational resources bar the blog on the Lime site. Score Priority clearly is focused on experienced traders who wish to up their game and become more active. The rebranding in 2020 was without a doubt about seeing the company repositioning itself and seeking out intermediate and experienced traders.

If you enjoy the demo account and wish to press on with Score Priority, you would be well advised to seek further alternative learning and training resources. There’s not much to get your teeth into on Score Priority. Given the financial markets’ volatility having the best possible grounding before you start trading is the best way to prevent disaster.

How to open an account

To register with Score Priority, click or tap on the Open Account button on the home page of scorepriority.com. Or any of the other Open An Account buttons that pepper the website. Your name should be that which appears in your passport.

If you encounter problems with the registration process or have any questions, you can email [email protected] for help. If you are either a permanent resident or a citizen of the USA, you will be asked to declare whether you have an Individual Taxpayer Identification Number or a Social Security Number. If you have neither an ITIN nor an SSN, basically anyone living outside the US, you will be obliged to provide additional documentation and meet specific other criteria.

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(Risk warning: 67% of retail CFD accounts lose money)

If you are employed or self-employed, you will need to:

• Earn at least $50,000 per year
• Have $50,000 or more in liquidity
• Be able to deposit a minimum of$5,000 within 60 days of opening an account
• And maintain a minimum balance of $5,000

If you are retired, a student, or unemployed, you will need to:

• Have a liquid net worth of $50,000 or more
• Be able to deposit a minimum of$5,000 within 60 days of opening an account
• And maintain a minimum balance of $5,000

The documents required to prove employment or income include:

• A payslip carrying a company letterhead, plus a letter from your employer
• A pension, bank, or brokerage statement if retired, a student, or unemployed
• A tax form, bank statements, or other documents show six months’ earning if self-employed

The next step is to choose your account type. The widest choice is for customers based in the US. There’s a vast range of account types for US clients:

• Individual
• Joint WROS
• Joint entirety
• Joint common
• Custodial UGMA
• Custodial UTMA
• IRA Roth
• IRA Traditional
• And other

If you select other, the options are:

• Rollover IRA
• Simplified employee pension IRA
• Corporation
• LLC
• Partnership
• Sole proprietorship
• Trust

When you complete the form and all the selections, click “Next“. Depending on your selections, etc., you will face several more screens’ worth of form-filling. A US citizen looking for a joint entirety account has the pleasure of completing six more tabs of forms to reach the end of the quest. If Score Priority’s registration process is anything, it’s thorough. However, you do come away with the feeling it could be drastically streamlined and some other information completed later once you finally get on the platform. As onboarding goes, it’s a dreary trudge to the end.

However, if you are curious enough to go searching, you will strike gold in the FAQs. Predictably, the link to the FAQs is buried in the bottom menu of the home page. But here’s the link to the FAQ section to save you time. You are, though, probably going to be underwhelmed by the one-sentence answers and the clickathon that’s involved. So zero points for presentation.

Per trade plan

This plan is the basic Score Priority pricing structure. On Score Priority Plus, the commission is $2.50 per trade.

• Minimum balance of $2,500 is required to start trading
• No monthly fees
• Commission fees per trade apply if you fall below $2,500
• Score Priority Trading Platform is commission-free, but there’s an additional $0.50 per option

Options account – per trade plan

Here are the facts:

• The minimum balance varies depending on what tier you are in
• There five tiers or options levels, the most basic being covered call writing
• The commission for options trading is $0.50 per option contract
• Futures account – per trade plan

The account facts at a glance:

• The minimum balance to open a futures accounts is $2,500
• The minimum balance to keep an account open is $100
• A specific margin must be maintained at all times
• If you fail to meet a margin requirement after getting a margin call, your account will be locked until the margin call has been resolved
• The commission per contract is $2.50 per side
• Commission-free trading is only available on the SPC Trading platform. Other fees may apply, however

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 67% of retail CFD accounts lose money)

Deposit and withdrawals

There are various ways to fund your Score Priority account. And some methods that are not accepted.

Acceptable payment methods include:

• Bank wire transfer
• ACH transfer
• Or internal account transfer when you hold more than one account

Not accepted, and some will surprise you, are:

• Credit and debit cards
• PayPal
• Credit card checks
• Traveler’s checks
• Money orders
• Western Union
• Third-party transfers

So if you are not a US resident, your pay in methods are limited. However, if you are interested in ACH, which stands for Automated Clearing House, an electronic financial network used in the USA.

Once your bank account has been okayed and linked to your Score Priority account, you can transfer funds between them without any charge. However, ACH is currently not available for IRA accounts. It takes around five to seven days to activate ACH on your account, with fund transfers taking two to three business days.

Regular US domestic wire transfers typically take up to 24 hours to reach your account. Overseas bank wire transfers can take up to 48 hours to clear. Withdrawals are via the method you used to pay in. In the case of ACH, you can withdraw deposits via ACH ten business days following the initial deposit. There is a $100 ACH minimum on deposits and withdrawals.

Support and service

If there’s one thing Score Priority excels in, it’s its contact ability. You can raise customer support using the following:

• Line
• Telegram
• Twitter
• Live Chat
• WhatsApp
• Facebook Messenger

You can also use good old-fashioned email ([email protected]) and the telephone. There’s toll-free calling to 1-855-274-4934. The domestic US phone number is +1 646 558-3232. Live Chat and the other instant messaging platforms can be summoned via the floating menu panel at the bottom of your screen.

You can reach a Score Priority contact person:

• Monday to Thursday between 9 am and 6 pm Eastern Standard Time (EST)
• And on Fridays between 9 am and 5 pm EST

There’s no support during normal market holidays. For overseas clients, EST is five hours behind GMT during the winter months and four hours behind when the clocks go forward for the summer. Their postal address is One Penn Plaza, New York, NY 10119.

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 67% of retail CFD accounts lose money)

Accepted countries and forbidden countries

As Score Priority is US-based, it has to comply with strict federal regulations.

It, therefore, does not do business with residents of the following countries:

• Afghanistan
• Yemen
• Syria
• Iran
• Libya
• Iraq
• Somalia
• Cuba
• Uganda
• The Democratic Republic of the Congo
• The Central African Republic
• Laos
• North Korea
• Venezuela
• Guyana
• Vanuatu
• Bosnia & Herzegovina

Score Priority also exercises extra caution and additional due diligence for clients in the following countries:

• Albania
• Belarus
• Latvia
• Serbia
• Ukraine (mainly Crimea)
• Bahamas
• Grenada
• Haiti
• St. Kitts and Nevis
• Trinidad and Tobago
• St Lucia
• Zambia

If you are not on this either list, such as the UK, the United States, the European Union, etc., you are good to go.

Special offers

There are no special offers per se with Score Priority. Indeed, there are no deposit or trading bonuses, promotions, or special offers of any kind. None of the incentives you can sometimes pick up with brokers registered and licensed in offshore jurisdictions. But the net is closing on promotional offers everywhere else. Today, these types of offers are becoming the exception increasingly.

However, there are a few perks with Score Priority. You can go paperless and sign up for digital soft copies of statements and trade confirmations. You can arrange this by logging on to the client portal, then going Statements/Statements & Confirmations. Check three or more of the options, then Save. However, you will still receive some mail as certain information has to be delivered as a hard copy. Typically, this will include interest rate changes, shareholder information, and tax-related notifications. These are sent free of charge.

Similarly, there are no charges for mailing out proxy, regulatory, or corporate action communications.

Conclusion of the review: Should I invest with Score Priority? – We think, yes!

Score Priority is very much US-centric and geared up to dealing with US residents. International clients are accepted, but the restrictions and hoops you have to jump through you may find challenging. Unless you specifically want to use Score Priority to trade in the US markets, there are probably better options for overseas traders.

That said, Score Priority is upfront and clear-cut about its fees and commissions. The only other misgiving is over the trading platform. There are few features to get in the way, but advanced traders may find it a little lacking. Particularly so if they were weaned on MT 4 and 5. So is Score Priority a scam? We think, no.

Score Priority review

Review of the broker Score Priority:

Trusted Broker Reviews

Regulation and safety:

Trading platform:

Trading conditions:

Deposit:

Withdrawal:

Support:

Summary

Score Priority is a reputable broker that offers a wide range of exciting financial instruments and tools.

5

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 67% of retail CFD accounts lose money)

FAQ – The most asked questions about ScorePriority: 

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Last Updated on January 27, 2023 by Arkady Müller

Risk Warning:

The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Your capital can be endangered. Trading Forex, CFD, Options, and other financial instruments carry a high risk of loss and are not suitable for all investors. 77-85% of retail investor accounts lose money when trading CFDs with the providers presented on this site. The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations.

Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative of future results.

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