Discovery FX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://apply.discovery-forex.com/account/client-individual/, about the company's legal and temporary regulatory information, the company's address Room 613A, 6/F, Ocean Centre, 5 Canton Road, Tsim Sha Tsui, Kowloon , Hong Kong.
Discovery FX Forex Broker
Basic information
Hong Kong
5-10 years Suspicious Regulatory License Suspicious Scope of Business Australia Appointed Representative(AR) Revoked High potential riskCompany profile
Discovery Forex Limited founded Discovery FX in 2018 in Hong Kong. It provides two trading asset classes: Spot Rolling FX and Precious Metals. Besides, it also offers demo accounts and high leverage of 1:1000. However, it is not regulated and its minimum deposit is as high as $200.
Pros and Cons
| Pros | Cons |
| Demo accounts offered | Not regulated |
| Flexible leverage ratios | Limited trading assets |
| MT4 and MT5 offered | High minimum deposit |
| Copy trading | Limited payment options |
| No fees for deposits and withdrawals |
Is Discovery FX Legit?
No, Discovery FX operates without regulation. Traders should be cautious because Discovery FX is not supervised by any financial authorities.
What Can I Trade on Discovery FX?
| Tradable Instruments | Supported |
| Spot Rolling FX | ✔ |
| Precious Metals | ✔ |
| Commodities | ❌ |
| Indices | ❌ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type/Fees
Discovery FX offers two account types: Standard and Nano spread. It also offers demo accounts.
| Account Type | Account Currency | Min Deposit | Min Withdrawal | Spread | Transaction Fee | Opening/Maintenance Fee |
| Standard | USD, JPY | $200 | $US100, JPY10,000 | / | ❌ | ❌ |
| Nano spread | $200 | Nearly 0 | $3/lot | ❌ |
Leverage
Discovery-FX provides flexible leverage from 1:1 to 1000:1. Note that the higher the leverage, the more profits and losses.
| Leverage | Total Effective Margin |
| 1:1 to 1:1000 | USD 5 - USD 20,000 / JPY 500 - JPY 2,000,000 |
| 1:1 to 1:200 | USD 20,001 ~ USD 100,000 / JPY 2,000,001 ~ JPY 10,000,000 |
| 1:1 to 1:100 | USD 100,001 ~ USD 200,000 / JPY 10,000,001 ~ JPY 20,000,000 |
| 1:1 to 1:50 | 200,001 USD or more / 20,000,001 JPY or more |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web, Desktop, Mobile | Beginners |
| MT5 | ✔ | Web, Desktop, Mobile | Experienced traders |
Deposit and Withdrawal
Discovery-FX supports deposits and withdrawals via bitwallet, overseas remittance and bank transfer. No fees for deposits and withdrawals.
Rating Index
Standard account
NANO spread account
Discovery FX Similarly Rated Brokers
Latest Reviews
FX1495783622
Hong Kong
Love their low spreads on the Nano Spread Account and the MT5 platform is crisp and efficient.
Positive
2024-06-18
mna2024
Japan
I have not yet been able to withdraw 72,000 yen of my profits, which I applied for withdrawal on November 13th, more than two months ago. Originally, this company seemed to have a habit of delaying withdrawals, and it was initially reported that it would take 5 business days for the money to arrive, but it gradually increased to 10 business days, then 30 business days (it is abnormal in itself that it takes 30 business days). I went. Until now, I have been able to withdraw money, albeit with a delay, but it has already been 30 business days since I withdrew money in November, and I have contacted them many times. The response I receive is always a standard message that says, "I'm checking with the department in charge." Although there are few cases due to the truth being disclosed, is there anyone who has suffered similar damage? The IB called FX Selection, which introduced me to this broker, can no longer be contacted. Maybe it's a guru. This time, I am applying for a small withdrawal of my profits, but I have deposited about 3.6 million yen here. I'm afraid that I won't get my money back. Does anyone with knowledge of the industry have a solution? Thank you.
Exposure
2024-01-19
Dreman
Peru
"Discovery FX is amazing! They offer a wide range of market instruments and flexible payment methods. Super convenient and easy to use.
Positive
2024-07-29