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