Score
Discovery FX
Hong Kong|5-10 years| http://www.discovery-forex.com/
Website
Rating Index
Influence
Influence
B
Influence index NO.1
Japan 6.02Contact
Licenses
Licensed Institution：DISCOVERY CAPITAL GROUP PTY LTD
License No.：001303784
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Hong Kong
5-10 years Suspicious Regulatory License Australia Appointed Representative(AR) Revoked High potential riskAccount Information
Users who viewed Discovery FX also viewed..
Vantage
- 10-15 years |
- Regulated in Australia |
- Market Making(MM) |
- MT4 Full License
AUS GLOBAL
- 10-15 years |
- Regulated in Cyprus |
- Market Making(MM) |
- MT4 Full License
GTCFX
- 10-15 years |
- Regulated in United Kingdom |
- Straight Through Processing(STP) |
- MT4 Full License
GO MARKETS
- Above 20 years |
- Regulated in Australia |
- Market Making(MM) |
- MT4 Full License
Website
discovery-forex.com
Server Location
United States
Website Domain Name
discovery-forex.com
Server IP
209.54.49.38
Company Summary
| Discovery FX Review Summary | |
| Founded | 2018 |
| Registered Country/Region | Hong Kong |
| Regulation | Not regulated |
| Market Instruments | Spot Rolling FX, Precious Metals |
| Demo Account | ✅($10,000 in virtual fund) |
| Leverage | 1:1 - 1:1000 |
| EUR/USD Spread | 1.0 - 3.0 pips |
| Trading Platform | MT4, MT5 |
| Copy Trading | ✅ |
| Min Deposit | $200 |
| Customer Support | Tel: +852 6889 6237 |
| Email: info@discovery-forex.com | |
| Social 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 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.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Australia Appointed Representative(AR) Revoked
- High potential risk
Review 10
Content you want to comment
Please enter...
Review 10
TOP 
Chrome
Chrome extension
Global Forex Broker Regulatory Inquiry
Browse the forex broker websites and identify the legit and fraud brokers accurately
Install Now
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
01-19
FX4066036111
Colombia
I want to officially denounce this supposedly financial endeavor that is taking advantage of people like me, investment was 2,500 Mexican pesos and after that I see my dashboard and it has not been accredited, and to date neither, they scammed me and they didn't even let me operate.
Exposure
2021-10-06
FX3028049359
Philippines
I started to transfer some money out of my accounts in Discovery FX and got into real withdraw problems. I'm trying to get 20,000p from one of my accounts there since 22-Feb-2021. So far my so called "account manager" is giving me some vague explanation of delays in the payment systems. He called very often months ago to urge me to put more money in the broker - since end of Feb-2019 I did not heard from him - neither call nor e-mails. I've sent 2 e-mails to my account manager, and 1 e-mail to the funding department at Discovery FX - no response. My account is in "waiting for processing" for over 20 business days with no explanation why the bank wire transfer is not happening. I will soon contact the regulatory authorities in Cyprus and seek for legal options to get my money back. I've never
Exposure
2021-09-09
FX3241871283
Paraguay
A scammer on Instagram sent me messages but I ignored him. Then he told me to give him 500 euros and he would give me 1000 euros. I sent him 800 euros. But it was a scam a year ago.
Exposure
2021-08-19
Drucilla Van Burener
Philippines
Discovery FX has its quirks. First off, the lack of regulation raises some serious red flags. Not being under the watchful eye of financial authorities like the SFC in Hong Kong or others is a risky game. The website is a bit vague, and there's not much info about the trading instruments. The minimum deposit is kinda high, and I'm not feeling the limited educational resources – a bit disappointing. And what's up with not disclosing withdrawal fees and processing times? It's like they're keeping you in the dark. I'm thinking twice about sticking around for the long haul.
Neutral
2023-12-06
Seraphina Hawthorne
Argentina
Discovery FX is where I started my trading journey, and I've gotta say, it's been a solid experience. The variety of trading platforms, especially having both MT4 and MT5, gives me the flexibility I need. The high leverage of 1:1000 is a game-changer for me – I'm all about maximizing those potential returns. The spreads are decent, starting from 0.3 pips, and I appreciate the multilingual customer support – they've got my back. Copy trading apps are a nice touch too. It's a good spot for those who know their way around the markets!
Neutral
2023-12-05
FX1342035324
Malaysia
Trading with Discovery FX is really a torture. One needle that has pricked me is logging into my dashboard is my credentials that I enter is mostly. Although entered correctly, wrong and I have to reset my password every time which is time-consuming. That’s annoying at times. I do hope they could improve this part.
Neutral
2023-03-17
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
07-29
FX1495783622
Hong Kong
Love their low spreads on the Nano Spread Account and the MT5 platform is crisp and efficient.
Positive
06-18
FX1313861641
Singapore
The Account Manager at Discovery FX contacted me on Instagram, and I found someone who seemed to declare to have been scammed... When I asked this guy about it, he couldn't answer my question very well. I dare not invest here.
Positive
2023-03-07