Discovery FX-Overview of Minimum Deposit, Leverage, Spreads

Discovery FX | 2022-07-12 19:09

Resumo：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	USD, JPY	$200	$US100, JPY10,000	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