Discovery FX Forex Broker

Discovery FX Review SummaryFounded2018Registered Country/RegionHong KongRegulationNot regulatedMarket InstrumentsSpot Rolling FX, Precious MetalsDemo Account✅($10,000 in virtual fund)Leverage1:1 - 1:1000EUR/USD Spread1.0 - 3.0 pipsTrading PlatformMT4, MT5Copy Trading✅Min Deposit$200Customer SupportTel: +852 6889 6237Email: info@discovery-forex.comSocial media: X, Facebook and Instagram 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 ConsPros Cons Demo accounts offeredNot regulatedFlexible leverage ratiosLimited trading assetsMT4 and MT5 offeredHigh minimum depositCopy tradingLimited payment optionsNo fees for deposits and withdrawalsIs 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 TypeAccount CurrencyMin DepositMin WithdrawalSpreadTransaction FeeOpening/Maintenance FeeStandardUSD, JPY$200$US100, JPY10,000/❌❌Nano spread$200Nearly 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 Margin1:1 to 1:1000USD 5 - USD 20,000 / JPY 500 - JPY 2,000,0001:1 to 1:200USD 20,001 ~ USD 100,000 / JPY 2,000,001 ~ JPY 10,000,0001:1 to 1:100USD 100,001 ~ USD 200,000 / JPY 10,000,001 ~ JPY 20,000,0001:1 to 1:50200,001 USD or more / 20,000,001 JPY or moreTrading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔Web, Desktop, MobileBeginnersMT5✔Web, Desktop, MobileExperienced tradersDeposit and Withdrawal Discovery-FX supports deposits and withdrawals via bitwallet, overseas remittance and bank transfer. No fees for deposits and withdrawals.