Discovery FX-Overview of Minimum Deposit, Leverage, Spreads
abstrak：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.
| 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.
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