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Discovery FX (Discovery-forex.com) is another brutal CFDs, Crypto Currency and Forex scam to hit the trading world. DiscoveryFX is claiming to offer users with a starting bonus of $250. With such a high welcome bonus, most unsuspecting investors sign up without second thought. The welcome bonus has become a major bone of contention as users are asked to repay the bonus. Read this detailed DISCOVERY FX Review for more information.
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Complaints have been piling up with members a crying foul after having their accounts blocked. Users have been having a hard time trying to withdraw funds with this platform. Discovery FX is turning out to be another online investment scam which is ripping off investors. Read this review and find out the reasons why we believe DiscoveryFX is a total scam. What’s happening with this platform?
Scam professionals have been cloning websites and fooling investors into signing up. Discovery FX is no different as they have created a website which looks like a real trading website. With empty claims and promises, most investors are lured without a second thought. What this means is we are dealing with a well-thought out platform out to steal from users. Bonuses are being used to rope unsuspecting investors in. Who gives such a high welcome bonus? Only scam artists with a hidden agenda.
Disclaimer at the footer of the homepage does not give a well description of owners of this platform. We are told the platform is based in Samoa which means they are offshore based. It is high time you stay away from this platform or become their next victim. A huge problem with this platform is anonymity.
No one knows who is in charge of this dubious online scam platform. Who are the founding members of this platform? Why is it hard to find any actual names of any broker associated with this platform? Scam artists fear the backlash from authorities and victims hence, hide their true identity. Stay away from DiscoveryFX or become their next victim.
Another problem we noticed is how funds are unsafe with this platform. Sure, they claim your funds are totally safe but have no evidence to back their claim. On the other hand, we have concrete proof Discovery FX is another platform stealing from users. If you look closely at their website, you will notice there is no security protection. You would expect a basic protection on their website. Lack of security features is proof your funds are not safe with this platform. It is best to stay away.
It seems users are depositing funds straight to owner’s bank account. With this in mind, it is clear investors are filling the pockets of these scam artists. Discovery FX is not the first platform to do so; it is a clear scammer’s move. Without proper DDoS Protection and SSL Encryption, funds are not safe. Don’t expect any compensation from this platform as they do not participate in a compensation scheme.
After carefully checking how the platform works, we could not come up with any advantage. Discovery FX is an anonymous website with no clear ranking which is a huge problem. Complaints have been coming from all corners of the world with members crying foul. It seems no one is able to withdraw funds and the accounts used simply don’t make sense. With such a high number of complaints from investors, it is best to steer clear of DiscoveryFX. It is simply not worth your time.
Discovery FX is offering users two different account types to choose from. Accounts are listed as Standard and Nano spread account. It seems this platform is asking for $200 to start trading with any account type. Clearly, these scam artists are targeting low and middle class investors with their minimum deposit price.
Another disturbing feature with this platform is having a rigged demo account. Scam artists have taken advantage of this demo account to produce insane results. Once you open a demo account and start trading, you will make over 98% successful trades. Even newbies who don’t know how to trade are making profit with this demo account. It is simply a ploy to lure investors to sign up with a real account.
When it comes to account funding, Discovery FX has this well-covered. Depository channels include Bank transfer, Bitcoin, and worldwide remittance. What remains to be a challenge with DiscoveryFX is withdrawing funds. No member has come forward with evidence of ever withdrawing funds with this platform. It is why we encourage investors to seek other proven alternatives.
Discovery FX is furnishing users with two types of trading platforms. Platforms are MT4 and copy trading. Copy trading is a good method of trading if only the broker is well exposed to the industry. With a broker who is clearly stealing from members, it is best to steer clear of their platforms. Security is also a concern as these platforms don’t have the required safety features. Hackers can easily take over this platform and steal your credit card information. It is best to stay away from this illicit platform.
We reached out to known regulatory institutions to confirm their license status. We were shocked to find out this platform is not licensed or registered by any regulatory bodies. These bodies include ASIC, CONSOB, CySEC, FCA, NFA, and SEC. Why have they failed to post any details regarding license and registration? Where is their license and registration documents to prove authenticity?
Evidence clearly points out at this platform being a scam. Discovery FX is a scam which must be shut down.
We will be adding this platform to our scam blacklist to ensure our readers are safe. Warn your family and friends from signing up with this illicit platform. Evidence is overwhelming in regards to tricks used.
Wishing all investors a safe trading period.
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