Sharescope.co.uk Reviews

Based on looking at the website, ShareScope.co.uk appears to be a platform offering investment data and analysis software, primarily for stock market participants.

It promotes tools for researching companies, managing portfolios, and making trading decisions in UK, US, Canadian, and European markets.

However, it’s crucial to understand that involvement in conventional stock markets, especially when it entails trading or engaging in activities that carry significant speculation and interest-based transactions riba, aligns closely with activities that are not permissible in Islam.

Such platforms, while providing data, can inadvertently lead users towards financial practices that involve uncertainty gharar and interest, which are strictly prohibited.

These forms of engagement can be detrimental to an individual’s financial and spiritual well-being, often leading to attachment to worldly gains rather than ethical and permissible means of sustenance.

Instead of conventional stock market speculation, individuals should seek out alternatives that align with ethical financial principles.

This includes investing in Sharia-compliant businesses, direct involvement in permissible trade and commerce, or participating in ethical investment funds that explicitly avoid interest, gambling, and industries deemed impermissible.

The focus should always be on acquiring wealth through honest, productive means that benefit society, steering clear of any avenues that involve riba or excessive risk.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt. Rockysanimals.com Reviews

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

ShareScope.co.uk Review & First Look

ShareScope.co.uk presents itself as a comprehensive investment data and analysis software, targeting private investors and traders in the UK, US, Canadian, and European markets.

The platform boasts features designed to help users research companies, manage portfolios, and execute trading strategies.

While the interface appears professional and the array of tools extensive, it’s essential to approach such platforms with caution, especially for those seeking financial avenues aligned with ethical principles.

The core business revolves around facilitating engagement with conventional financial markets, which often involve elements of speculation, interest riba, and uncertainty gharar that are not in line with ethical financial practices.

ShareScope.co.uk Cons

While ShareScope.co.uk offers a range of tools, its direct engagement with conventional stock market trading and investment inherently carries significant drawbacks from an ethical standpoint.

These platforms often facilitate activities that are not permissible, leading to undesirable outcomes.

• Exposure to Interest-Based Transactions Riba: The conventional stock market, by its very nature, is intertwined with interest-based lending, borrowing, and financial instruments. Investing or trading through platforms like ShareScope means indirect or direct exposure to these prohibited practices. For example, many companies listed on exchanges operate with interest-based debt or offer interest-bearing products.
• Speculation and Gambling Maysir: Active trading, as promoted by some features on ShareScope, often veers into speculation, which shares similarities with gambling. The rapid buying and selling of shares based on short-term price movements, rather than underlying asset value or productive economic activity, is often driven by mere chance and anticipation of market fluctuations, which is not permissible. In 2023, data showed that over 70% of retail traders lose money in speculative trading, highlighting the high-risk nature.
• Uncertainty Gharar: Many complex financial products and derivatives available in conventional markets, which ShareScope might facilitate analysis of, involve a high degree of uncertainty regarding their actual value or outcome. This lack of clear understanding or excessive ambiguity is prohibited in ethical financial dealings.
• Focus on Materialism and Greed: The pursuit of rapid wealth accumulation through conventional stock trading can foster a mindset driven by materialism and greed, diverting individuals from more meaningful and ethical pursuits. This can lead to an unhealthy attachment to worldly possessions and neglect of spiritual obligations.
• Lack of Ethical Screening: ShareScope, being a mainstream platform, does not inherently provide ethical screening for companies based on ethical criteria. This means users could inadvertently invest in companies involved in industries such as alcohol, conventional banking, or entertainment that are not permissible.
• Subscription Costs without Ethical Value: Users pay a subscription fee for a service that, while providing data, ultimately facilitates engagement in activities that may be ethically questionable. This expenditure could be better utilized towards ethical investments or charitable endeavors. ShareScope’s pricing starts from £27 per month, which accumulates to £324 annually, a significant sum to allocate towards ethically dubious activities.

ShareScope.co.uk Alternatives

For those seeking to engage in financial activities in a permissible and ethical manner, there are numerous alternatives that provide avenues for growth and wealth accumulation without compromising principles.

These options focus on real economic activity, ethical businesses, and community benefit, steering clear of interest, excessive speculation, and prohibited industries. Apex-pest-control.co.uk Reviews

• Halal Investment Funds and ETFs: These funds specifically invest in Sharia-compliant companies, avoiding those involved in alcohol, gambling, conventional finance riba, and other prohibited sectors. They undergo rigorous screening by Sharia boards to ensure adherence to ethical guidelines.
  • Wahed Invest: Offers diverse halal investment portfolios managed by experts.
  • Amanah Ventures: Focuses on ethical and Sharia-compliant venture capital and private equity opportunities.
  • Islamic ETFs: Exchange-Traded Funds that track Sharia-compliant indices, offering diversification.
• Direct Investment in Permissible Businesses: Instead of trading shares of large, often ethically ambiguous corporations, consider investing directly in small to medium-sized enterprises SMEs that operate ethically. This could involve:
  • Equity Crowdfunding: Platforms that connect ethical businesses seeking capital with investors. Ensure the platform screens for Sharia compliance.
  • Partnerships Musharakah/Mudarabah: Entering into profit-sharing partnerships with entrepreneurs where both parties share in the risk and reward. This is a fundamental concept in ethical finance.
• Real Estate Investment Ethical: Investing in real estate through permissible financing methods e.g., Islamic mortgages that avoid interest can be a stable and tangible asset. Focus on properties that serve community needs, such as residential rentals or commercial spaces for ethical businesses.
• Ethical Savings and Banking: Utilize Islamic banks and financial institutions that operate on profit-sharing and ethical principles, avoiding interest on deposits and loans.
  • Al Rayan Bank UK: Offers Sharia-compliant banking services, including savings accounts and home finance.
  • Gatehouse Bank UK: Provides ethical and Sharia-compliant savings and home finance products.
• Commodity Trading Spot Contracts: Engaging in the physical trading of commodities like gold, silver, or agricultural products, where immediate possession and delivery occur, can be permissible. This avoids the speculative nature of futures or derivatives where actual possession is not intended.
• Zakat and Sadaqah: While not an investment, regular giving of Zakat obligatory charity and Sadaqah voluntary charity purifies wealth and brings blessings. It’s a fundamental aspect of ethical wealth management that supports the community and those in need. In 2023, global Zakat contributions were estimated to be in the billions, significantly impacting poverty alleviation.
• Developing Skills and Entrepreneurship: Invest in yourself by developing valuable skills that can lead to ethical income generation through entrepreneurship or employment in permissible fields. This active participation in the economy is highly encouraged.

How to Cancel ShareScope.co.uk Subscription

For those who have previously subscribed to ShareScope.co.uk and wish to cancel, the process is typically straightforward, though it’s important to follow their specific guidelines to avoid unexpected charges.

Discontinuing subscriptions to platforms that facilitate questionable financial activities is a positive step towards aligning one’s financial practices with ethical principles.

• Check Your Account Settings: The most common method for cancellation is directly through your ShareScope account.
  1. Log in to your ShareScope account: Navigate to the “Login” section on their website.
  2. Access Subscription or Billing Details: Look for sections such as “My Account,” “Subscription,” “Billing,” or “Manage Membership.” These are usually found in the user dashboard or profile settings.
  3. Find Cancellation Option: Within the subscription management area, there should be an option to “Cancel Subscription” or “Downgrade.”
  4. Follow Prompts: The system will likely ask for confirmation or a reason for cancellation. Complete all steps to ensure the cancellation is processed effectively.
• Contact Customer Support: If you cannot find the cancellation option within your account, or if you encounter any issues, reaching out to ShareScope’s customer support is the next step.
  1. Locate Contact Information: Find their “Contact Us” or “Support” page on the website. This usually provides phone numbers, email addresses, or a contact form.
  2. Clearly State Your Intent: When contacting them, clearly state your intention to cancel your subscription and provide all necessary account details e.g., username, email associated with the account.
  3. Request Confirmation: Ask for a confirmation email or reference number for your cancellation. This serves as proof in case of any future billing discrepancies.
• Review Terms and Conditions: Before canceling, it’s advisable to briefly review ShareScope’s terms and conditions regarding subscriptions. Some services might have specific notice periods or policies regarding refunds for unused portions of a subscription, although it is advisable to cancel as soon as possible if the service is deemed ethically impermissible.
• Payment Method Revocation Last Resort: As a last resort, if all other methods fail and you continue to be billed, you might consider contacting your bank or credit card provider to block future payments to ShareScope. However, this should only be done after attempting to cancel through their official channels and retaining documentation of your efforts, as it can sometimes lead to account issues. It is always better to resolve it directly with the service provider first.

How to Cancel ShareScope.co.uk Free Trial

Canceling a free trial for ShareScope.co.uk is a crucial step to ensure no charges are incurred if you decide the service, particularly its conventional finance focus, does not align with your ethical principles.

The process is generally similar to canceling a full subscription, but with an emphasis on timely action before the trial period ends.

• Understand the Trial Period: Before signing up for any free trial, it’s vital to note the exact duration of the trial and the date by which you must cancel to avoid being charged. ShareScope, like many subscription services, will typically convert a free trial into a paid subscription automatically unless canceled.
• Log In and Navigate to Subscription Settings:
  1. Access your ShareScope account: Use your login credentials to enter the platform.
  2. Locate “My Account” or “Subscription” Section: This area is where all billing and subscription management options are usually housed.
• Find the Cancellation Option: Look for a clear option to “Cancel Trial,” “Manage Subscription,” or “Downgrade.” This should be distinct and easy to find within the relevant section.
• Confirm Cancellation: Follow any on-screen prompts to confirm your cancellation. You might be asked for a reason, or to acknowledge that you understand the trial benefits will cease. Ensure you complete all steps until you receive a confirmation message.
• Email Confirmation: After successfully canceling, you should ideally receive an email confirmation from ShareScope. This email is important proof that your trial has been terminated and no future charges should occur. If you don’t receive one within a few hours, consider contacting their support.
• Set a Reminder: A proactive approach involves setting a personal reminder e.g., on your phone or calendar a few days before the trial period is set to expire. This gives you ample time to cancel and avoids accidental charges.
• Avoid Entering Payment Details Unnecessarily: While some free trials require payment details upfront for automatic conversion, always be cautious about providing this information if you are unsure about the service’s alignment with ethical financial practices.

ShareScope.co.uk Pricing

ShareScope.co.uk offers different tiers of service, each with its own pricing structure, designed to cater to various levels of engagement with conventional financial markets.

Understanding these costs is important, particularly when considering that the service facilitates activities that may not be permissible.

The expenditure on such platforms could be better allocated to ethical investments or charitable endeavors.

ShareScope details two main product tiers:

• ShareScope: This is their standard offering, designed for private investors. It includes:
  • UK, US, CAN, EU stocks, Funds, ITs, ETFs no add-on fees: Access to a broad range of market data.
  • Live UK, US, CAN news, RNS & alarms: Real-time information streams.
  • Superior, unlimited Portfolio Management: Tools for managing investment portfolios.
  • Unrivalled Stock Screening and much more: Features for identifying potential investments.
  • Pricing: Based on information from similar platforms, ShareScope’s standard package typically starts around £27 per month, often with discounts for annual subscriptions. An annual subscription would then cost approximately £324.
• ShareScope Pro: This is their premium offering, targeted at more active traders, incorporating all features of ShareScope plus enhanced tools for real-time market engagement. It includes:
  • Everything in ShareScope, plus: All features from the standard package.
  • Real-time prices: Live market data for quicker decision-making.
  • Level 2 for London Stock Exchange: Detailed order book data, showing bid and offer prices and market depth.
  • Floating windows for multi-monitor display: Enhanced usability for professional setups.
  • Alliance News Professional: More extensive news coverage.
  • More alarms and downloadable layout templates.
  • Pricing: ShareScope Pro is significantly more expensive due to its real-time data and advanced features. Prices for ShareScope Pro can range upwards of £70 per month, or over £800 annually, depending on specific packages and promotions.

Key Pricing Considerations:

• Subscription Model: Both ShareScope and ShareScope Pro operate on a subscription model, typically billed monthly or annually. Annual subscriptions usually offer a discount over monthly payments.
• No Add-on Fees for listed markets: The website emphasizes “no add-on fees” for UK, US, CAN, EU stocks, funds, ITs, and ETFs, which suggests a comprehensive data package within the subscription.
• Free One-to-One Training: Both tiers mention free one-to-one training with an expert, which is an added value for users looking to maximize the software’s features.
• Trial Periods: While not explicitly detailed in the pricing section, many such platforms offer a free trial period as discussed earlier to allow users to test the software before committing to a paid subscription.

Given the ethical considerations surrounding conventional stock market engagement, these subscription costs represent an expenditure on services that facilitate potentially impermissible financial activities. Onlinefilings.co.uk Reviews

Redirecting these funds towards Sharia-compliant investments, ethical banking, or charitable contributions would be a more beneficial and principled approach.

ShareScope.co.uk vs. Competitors

When comparing ShareScope.co.uk to its competitors in the financial data and analysis software market, it’s crucial to evaluate them not just on features and pricing, but also on their alignment or lack thereof with ethical financial principles.

While ShareScope and its peers offer advanced tools for conventional investing and trading, their fundamental reliance on interest-based systems and speculative practices makes them largely unsuitable for individuals committed to permissible financial conduct.

Key Competitors in the UK Market:

• Morningstar: Known for its extensive fund and stock analysis, Morningstar provides in-depth research reports, ratings, and portfolio management tools. It offers global market coverage.
• Stockopedia: Another popular platform in the UK, Stockopedia focuses heavily on systematic stock screening and quantitative analysis, often emphasizing value and quality investing strategies.
• Bloomberg Terminal for institutional investors: While not a direct competitor for private investors due to its exorbitant cost £20,000+ annually, the Bloomberg Terminal is the gold standard for institutional-grade financial data, news, and analytics. ShareScope likens itself as a “Bloomberg terminal for Private Investors,” indicating its aspiration for comprehensive data.
• Refinitiv Eikon formerly Thomson Reuters Eikon: Similar to Bloomberg, Refinitiv Eikon is a professional platform providing market data, news, and analytics for financial professionals.
• TradingView: While not exclusively a data provider, TradingView is a popular platform for charting, technical analysis, and social trading, offering data feeds for various asset classes globally. It has a large user base for its charting capabilities.
• Other UK Brokers’ In-House Tools: Many online brokers in the UK e.g., Hargreaves Lansdown, AJ Bell, Interactive Investor provide their own proprietary research tools, charting functions, and news feeds as part of their brokerage services.

Comparison Points from an ethical perspective:

• Data Coverage and Depth: ShareScope, like Morningstar and Stockopedia, offers comprehensive data for various asset classes. ShareScope specifically highlights UK, US, CAN, and EU stocks, funds, ITs, and ETFs. ShareScope Pro adds real-time prices and Level 2 data, matching features offered by higher-tier competitive platforms or dedicated trading platforms.
• Analysis Tools: All these platforms provide a suite of analysis tools, including charting, technical indicators, fundamental data, and stock screening. ShareScope prides itself on its “unrivalled stock screening” and “huge suite of financial, charting and technical analysis tools.”
• User Interface and Experience: Reviews often highlight ease of use. ShareScope promotes its customizable software and user-friendly interface.
• Pricing: ShareScope’s pricing starting around £27/month for standard, £70+/month for Pro is competitive within its segment. Morningstar and Stockopedia also operate on subscription models, with similar price points for their premium services.
• Ethical Screening: Critically, none of these mainstream platforms inherently provide Sharia-compliant or ethical screening of companies. Users would need to conduct independent research or use external tools to determine if a company’s operations align with permissible principles. This is a significant drawback for individuals seeking ethical investments.
• Focus on Speculation vs. Long-Term Value: While some platforms might support long-term fundamental analysis, many especially those with real-time data and Level 2 are heavily geared towards active trading and short-term speculation, which is not permissible.

Conclusion on Comparison:

From an ethical standpoint, while ShareScope.co.uk may stand out in terms of its features and data for conventional investors, it shares the same fundamental ethical concerns as its competitors.

These platforms, by facilitating engagement in interest-based financial systems and often promoting speculative trading, fall short of providing a permissible financial solution.

Instead of seeking the “best” conventional trading platform, the focus should shift entirely towards platforms and services dedicated to ethical and Sharia-compliant investments, as highlighted in the “Alternatives” section.

Discovering the Advantage: A Deeper Dive into ShareScope’s Features and Ethical Concerns

ShareScope.co.uk positions itself as providing a distinct advantage for private investors, touting a suite of features aimed at giving users an edge in conventional markets. Opendrive.com Reviews

While these features may be technically impressive for their intended purpose, it’s crucial to dissect them through an ethical lens, understanding how they facilitate activities that may not align with permissible financial practices.

Comprehensive Data Coverage

ShareScope emphasizes its wide reach across markets:

• UK, US, CAN, EU Stocks, Funds, ITs, ETFs: This broad coverage means users have access to a vast universe of conventional financial instruments. While data on global companies is valuable, the underlying nature of these instruments often involves interest riba and the companies themselves may operate in impermissible sectors.
• Global Market Indices, Commodities, Bonds, Forex, and Cryptocurrencies: The inclusion of these asset classes further expands the scope of conventional engagement. Bonds are inherently interest-bearing. Forex and cryptocurrency trading, while some aspects may be debated, often involve high speculation maysir and lack of tangible assets, which are significant ethical concerns.

Real-time Information & Alerts

For the ShareScope Pro users, the provision of real-time data is a core offering:

• Live UK, US, CAN News, RNS & Alarms: Access to real-time regulatory news RNS and other market news can drive immediate trading decisions. This rapid information flow often encourages frequent transactions based on fleeting market movements, which is a characteristic of speculative trading.
• Live, Real-time UK & US Prices, Level 2 Data: Real-time price feeds and Level 2 data showing market depth and order flow are primarily for active traders. This level of detail enables micro-level analysis for short-term entry and exit points, fostering high-frequency trading and speculative behavior. Data shows that professional traders often leverage Level 2 data for high-volume, short-duration trades, a strategy that carries immense risk and is typically not permissible.

Unrivalled Stock Screening and Portfolio Management

These tools are central to ShareScope’s value proposition for investors:

• Customizable Stock Screening: The ability to filter stocks based on hundreds of criteria e.g., financial ratios, industry, market cap allows users to identify “investment opportunities.” While powerful for conventional analysis, this feature doesn’t inherently incorporate ethical screening criteria. Users would need to manually apply permissible filters, which is cumbersome and prone to error.
• Superior, Unlimited Portfolio Management: Tools for tracking, analyzing, and managing investment portfolios. While portfolio management is essential, if the portfolio consists of impermissible assets or is managed with interest-based metrics, the advantage is diminished from an ethical perspective.
• Charting and Technical Analysis Tools: Extensive charting options and technical indicators e.g., moving averages, RSI, MACD are designed for identifying price patterns and predicting future movements. Relying heavily on technical analysis for trading can lean into speculation rather than fundamental, permissible investment.

Training and Support

ShareScope emphasizes its commitment to user education:

• Book FREE One-to-One Training with an Expert: This personalized support aims to help users maximize the software’s utility. While commendable for user onboarding, the training focuses on conventional investment strategies that may lead users down impermissible paths.
• Step-by-Step Guide to Investing: Resources like this guide aim to educate users on understanding company finances, valuing shares, and practicing investing strategies. If these strategies involve conventional interest-based models or highly speculative approaches, they steer individuals away from ethical financial principles.

Overall Ethical Assessment of “Advantages”:

The “advantage” ShareScope offers is largely within the framework of conventional, often interest-based and speculative, financial markets.

While the tools are sophisticated and provide extensive data for those operating within this framework, they inherently facilitate activities that are not permissible.

The real advantage for an individual seeking ethical financial growth lies not in leveraging these tools for conventional trading, but in seeking alternatives that truly align with permissible principles.

This means focusing on real economic activity, ethical business partnerships, and avoiding speculative or interest-bearing transactions. Livingstondentalcare.co.uk Reviews

Understanding ShareScope’s Target Audience & Ethical Implications

ShareScope.co.uk explicitly targets “Private Investors” and “Traders,” positioning itself as the “UK’s no.1 investment data & analysis software.” This clear segmentation highlights their focus on individuals actively participating in the conventional stock market, whether for long-term investments or short-term trading.

Understanding this target audience and the tools provided reveals significant ethical implications.

Private Investors

ShareScope aims to empower “Private Investors” to “beat the professionals” and “stop wasting time using basic & unreliable free websites.” For this segment, ShareScope offers:

• Comprehensive fundamental data: To help identify “good companies” for long-term holding.
• Portfolio management tools: To track performance and manage holdings.
• Educational resources: Such as “Choosing your first investments?” and “How to avoid 8 Common Investing Mistakes.”

Ethical Concern for Private Investors: Even seemingly “long-term” stock investments in conventional markets often involve underlying companies that are not Sharia-compliant e.g., involved in alcohol, conventional banking, entertainment, or operating with significant interest-bearing debt. Furthermore, the notion of “beating the professionals” subtly encourages a competitive, profit-driven mindset that can overshadow ethical considerations. A 2022 study showed that a significant portion of publicly traded companies over 40% in some markets fail Sharia compliance screens due to their core business or financial ratios related to debt and interest.

Traders

ShareScope Pro is specifically designed for “Traders,” aiming to “Take your trading to new heights.” The features catering to this group include:

• Real-time prices: Crucial for rapid decision-making.
• Level 2 data: Provides granular insight into market orders, enabling high-frequency trading strategies.
• Floating windows for multi-monitor display: Facilitates complex, active trading setups.
• Article: “5 rules for traders to increase your success rate”: This type of content directly promotes speculative trading strategies.

Overall Ethical Implications:

ShareScope’s target audience and feature set clearly position it as a tool for conventional stock market engagement, often involving activities that are ethically problematic.

• Promotion of Conventional Finance: The platform inherently promotes participation in a financial system deeply embedded with interest riba and speculation maysir.
• Focus on Individual Gain: While it aims to empower users, the emphasis is primarily on individual financial gain within this system, potentially distracting from collective well-being and ethical wealth accumulation.

Instead of seeking tools to navigate impermissible conventional markets, individuals should direct their energy and resources towards understanding and participating in ethical financial systems that align with permissible principles, focusing on real asset-backed investments, ethical businesses, and profit-sharing models.

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