Discount FX Review - What to expect from the company
Discount FX is a CFD Broker that targets primarily traders from Germany. Discount FX is a subsidiary company of GBE Brokers Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. Real trading is at Discount FX possible with the minimum deposit of $500. The Discount FX website is available in English and German.
| General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
Basic information about the broker
- Website address: www.DiscountFX.com
- Leverage: up to 1:30
- Instruments: CFDs- Forex, Metals, Shares, Commodities
- Minimum deposit: $500
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller
Discount FX Trading Platform
For FX and CFD trading, Discount FX offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application.
Discount FX regulation
GBE Brokers Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission under license number 240/14.The CySEC regulation gives Discount FX the right to provide cross-border services to other members of the European Economic Area.
To sum up the Discount FX Review
Discount FX charges $1,99 per traded lot + spreads from 0.0 pips. Unfortunately, the broker does not state on its website the average spreads on assets it offers. The broker offers a free demo account, but no CFDs on cryptocurrencies. I would also appreciate if Discount FX put a list of all tradable assets somewhere on their website because now one cannot know what shares or forex pairs the broker offers.
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