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Discovery FX

Operating status: SCAM

Website: https://www.discovery-forex.com/

Broker violations and abnormal records
  • May 24, 2022 BrokersView has reviewed that Discovery FX is an unregulated forex broker

    Discovery FX claims to be registered with Money Services Businesses (MSBs) ID.31000159574899 issued by the United States FinCEN. However, FinCEN does not regulate forex markets nor does it issue licenses for brokers engaging in such activities. So FinCEN-registered broker is not a regulated broker in the US.

    Besides, the US regulatory framework is deemed as one of the world's strictest. A US-licensed forex broker should be approved by the US Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). However, we didn't find any result matching this broker from the registers of NFA and CFTC. So Discovery FX is not overseen by any regulator. That means investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.


    Discovery FX claims to be registered with Money Services Businesses (MSBs) ID.31000159574899 issued by the United States FinCEN. However, FinCEN does not regulate forex markets nor does it issue licenses for brokers engaging in such activities. So FinCEN-registered broker is not a regulated broker in the US.Besides, the US regulatory framework is deemed as one of the world's strictest. A US-licensed forex broker should be approved by the US Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). However, we didn't find any result matching this broker from the registers of NFA and CFTC. So Discovery FX is not overseen by any regulator. That means investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

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