WikiFX Reviews Long Asia Group in Depth

In this article, we'll look in-depth at Long Asia Group, examining its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX aims to provide you with the information you need to make an informed decision about using this platform.

Background:

Long Asia Group (LAG) is a global online forex and CFD broker founded in 2012 that offers over 600 trading instruments, including stocks, forex pairs, global indices, cryptocurrencies, and commodities. The barrier of entry to open an account with LAG is low as its required minimum deposit is only $10, with a maximum leverage level of 500 times.

Long Asia Group is a registered company in New Zealand, with registration number 3753043 and NZBN 9429030748231. Its registered address and headquarters is at 70 Prospect Terrace, Mount Eden, Auckland, 1024, New Zealand. The broker also has another physical premise at 3 Storey Shophouses on L19545, Level 2, SL 11 Jalan Stutong, 93350, Kuching, Sarawak, Malaysia.

In addition, Long Asia Group's PAMM management service is a tool that can help money managers improve their efficiency and profitability, providing investors with a platform to invest in PAMM accounts.

Moreover, LAG also offers an introducing broker (IB) program that allows individuals and businesses to earn commissions by referring new clients to the company.

Types of Accounts:

LAG offers three different account types: Cent Account, Standard Account, and ECN Account.

The first account option, the Cent Account, mandates a minimum deposit of $10 and permits a minimum lot size of 0.01. This commission-free account offers a leverage level of 500 times with variable spreads. This account is suitable for beginner traders to start trading without a huge starting capital or for those wanting to test out a new strategy at a low cost.

Secondly, a slightly higher minimum deposit of $100 is required for the Standard Account, with the minimum lot size set at 0.01. This account type is ideal for seasoned traders, emphasizing robust security measures and the most competitive spreads. This is also a commission-free account that offers a maximum leverage of 500 times with variable spreads.

Finally, for the ECN Account, a minimum deposit of $100 and a minimum lot size of 0.01 are mandatory. Spreads begin from 0 pips onwards, and its commission charge is $8 per lot traded. The maximum leverage level is 500 times.

Deposit and Withdrawals:

Compared to its peers, LAG provides only a handful of deposit and withdrawal options, including cryptocurrencies (Bitcoin and Tether), bank transfers, and Local Gateway.

Deposit and withdrawal times vary depending on the chosen method. Cryptocurrencies and Local Gateway deposits and withdrawals are usually processed within 24 hours, while bank transfers can take up to 3 business days.

LAG does not charge any fees on deposits and withdrawals, but the trading client will bear any fees imposed by the third party.

Trading Platforms:

LAG provides its clients with the MetaTrader 4 (MT4) trading platform. MT4 is a popular trading platform that is used by traders all over the world. It is known for its user-friendly interface and wide range of features, including charting tools, technical indicators, and automated trading capabilities.

Meanwhile, the broker also offers a variety of Expert Advisors (EAs) that are compatible with the MT4 platform. EAs are automated trading programs that can execute trades on your behalf. This can be a valuable tool for traders who do not have the time or experience to trade manually.

Research & Education:

Although it is listed on LAG's website that the company does provide educational resources (as displayed below), these links are not accessible to the public. Thus, WikiFX cannot make a fair review of its quality.

Customer Service:

As mentioned above, LAG provides two addresses for clients who want to reach them physically. Alternatively, they can reach out through support@longasiagroups.com or at +6082-687 445. Additionally, customers can submit messages or inquiries directly on LAG's website and await a response from the customer service team. The broker claims to respond to all enquiries within 24 hours. Regrettably, LAG does not provide an online customer support service, which could be crucial, especially during emergencies.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has given Long Asia Group a WikiScore of 6.31 out of 10, indicating that it is a safe broker within the industry.

WikiFX verified both licenses held by LAG, as displayed below:

In conclusion, LAG is a trustworthy broker; however, due to its shortcomings in certain areas, including the limited deposit and withdrawal options, the trading instruments offered, and the absence of a live chat service, WikiFX cannot give it a fairly high score.