August 30, 2020

Long Asia Review

Overview:

The broker Long Asia claims to offer forex and CFD trade and Asset Management to its clients. Total of three trading accounts, average spreads and a higher level of leverages are provided. It also claims to offer MetaTrader trading platform. The broker further claims to be regulated by Cyprus based financial regulator. Nevertheless, the claims of this broker are false and it is an unregulated company. In this Long Asia review, we will talk about all the critical factors of this broker and give you a clear picture of this broker. Stay tuned and read the full Long Asia review here.

About Long Asia:

The offered three different trading accounts are Standard, ECN, and Zero accounts. The minimum deposit required for any of these three accounts is not mentioned on the official website. However, the maximum leverage of 1:200 and tight spreads of 1.7 pips with commission can be seen. To develop a fair review we must consider all the merits and demerits of Long Asia. We will talk about all the possible advantages of Long Asia. The broker Long Asia offers 35 currency pair some of them are exotics like USDHKD, USDSGD, USDTRY, USDZAR, and USDCNH. The broker also provides CFDs over oil, natural gas, metals, more than 10 Global Indices, and cryptocurrencies. Another possible benefit of Long Asia is that it offers industry-leading MetaTrader trading platform that has more than 50 integrated market indicators and automatic trading facilities.

In this section will comment on the possible disadvantages of broker Long Asia. The corporate structure of Long Asia is quite misleading. The Long Asia Group has 3 subsidiaries viz Long Asia liquidity claims to be regulated in Indonesia, Long Asia Global Limited that is registered in Cyprus, and Long Asia Asset Management that is told to be licenced in Hong Kong. Also, the MetaTrader provided is managed by the fourth company called Long Asia Group NZ Limited. Apart from this, the broker shares no information. The broker claims to be regulated by the Hong Kong Securities and Futures Commission and also with Cyprus Securities and Exchange Commission. Unfortunately, we could not find the registry of the broker. Now it is evident that the broker is an unregulated entity and claims of regulations are false. The trading conditions provided are unclear and we always claim non informative broker as a potential scam broker.

Is Long Asia scam or legit?

The broker claims to be regulated by many legitimate financial regulator but in reality, it does not hold a proper Regulation and Licensing to provide brokerage services. Besides, the trading conditions are not disclosed. MetaTrader is managed by third party. Our research proved that the broker Long Asia is a potential Australian trading scam.