FAQ at LongAsia

We provide comprehensive services such as securities and futures foreign exchange trading, asset management, and liquidity settlement to our global clients.

FAQ

1. When was LongAsia group founded? What business does it do?

LongAsia Group is an integrated company, headquartered in Singapore. The earliest subsidiary was established in 1999. LongAsia Group has obtained a number of financial regulatory licenses, providing securities brokerage, derivatives brokerage, investment banking, asset management, fund management, global home and other services for high net value customers worldwide. LongAsia Group holds CMS foreign exchange trading license of the Singapore Monetary Authority, Type 1 license of the Hong Kong Securities Regulatory Commission, Type 4 and Type 9 licenses of the Hong Kong Securities Regulatory Commission, and has been the clearing member of the Indonesia Commodity & Derivatives Exchange ICDX, and Indonesian brokerage member.

2. What services do LongAsia Foreign Exchange provide?

LongAsia mainly provides online foreign exchange and Contract For Difference services for individual customers, dealers, and fund managers and for other financial institutions.

3. How to set up the MT4 Trading Platform?

Download the desktop MT4 Trading Platform software from our website. We have updated our trading applications to the newest version. Please add the broker server, “Long Asia Group- Live” or “Long Asia Group- Demo” to begin trading.

4. What is the opening time of the foreign exchange market?

Foreign exchange market is open for trading from Monday 00:00 to Friday night 24:00 (server time GMT+3), 1 hour ahead of daylight saving time. The precious metal market is is open for trading from Monday 01:00 to Friday evening 24:00 (server time GMT+3), and 1 hour ahead of daylight saving time. The foreign exchange market operates 24 hours. Trading begins every day in Sydney. With the rotation of the earth, the business days of every financial center in the world will start in succession, from Tokyo to London and then to New York. Different from other financial markets, foreign exchange traders are able to respond to market volatility at any time during the normal opening period of the market, whether in the daytime or at night.

The time displayed in the Longasia MT4 trading platform is Greenwich GMT + 3 standard time, and is also the server time.

5. How long does it take to open a live account?

We will complete the account opening within 1 hour upon receipt of your application (except Saturday). No application fee will be charged.

6. How do I know that my account has been opened?

Once your application has been verified and approved, an email with your account number, master password, and read-only password will be sent to your registered email address.

7. Is there an annual subscription fee applicable for the live trading account?

We strive to optimize your trading experience, so there is no an annual subscription fee for live trading account. If there is no trading activity within 180 days with the account balance below USD100, the trading account will be suspended. If you need to reinstate the trading account, please contact the online customer service or email us at [email protected] If there is no deposit within 270 days, the trading account will be terminated.

8. How to update personal information (such as bank account information, contact information)?

Log in to the Personal Centre on our official website. Select the corresponding account, click the Edit button under Account Information, and fill in the relevant information according to the instructions.

9. Can a normal standard account be changed to an ECN account?

You may open another new account in a personal centre, with the same personal information. Please put a comment indicating as an ECN account opening.

10. How to change personal centre password and MT4 trading account password?

On the official website, go to Personal Centre, Account Overview, and select the corresponding account, Log In, and select Account Management, then Forget Password. Fill the information in accordance with the instructions and click submit. Our staff will handle your request within 1 working day and you will receive an automated notification email.

On the Menu Bar of the LongAsia MT4 trading platform, find the Tool, Option, Server; click the Change button; key in your current password and check the Change Master Password. Enter your new password and reconfirm your new password; click OK. Proceed to close the MT4 platform and re-login with your new password. Please note that the password must contain at least a capital letter, a lowercase letter, a number, and not less than 5 characters.

11. How to change the leverage of a trading account?

On the official website, go to Personal Centre, Account Overview, and select the corresponding account, Log In, then Account Management, then Adjust Leverage. Fill the information in accordance with the instructions and click submit. Our staff will handle your request within 1 working day and you will receive an automated notification email.

12. Does LongAsia charge fees for deposit and withdrawal?

LongAsia does not charge any fees for deposits and withdrawals, but you may bear the exchange rate differences caused by currency conversions. Remittance banks or intermediaries will charge corresponding remittance charges done via internet banking transfers or bank telegraphic transfers, which usually costs between US$25-35. Customers may incur additional commission charges by payment providers for using the payments services, in addition to exchange rate differences and remittance charges.

13. Is the exchange rate for deposit or withdrawal transactions fluctuated or fixed?

The exchange rate of deposit/ withdrawal fluctuates constantly. When you browse to the deposit/ withdrawal system function, it will display the specific exchange rate.

14. What is the processing time of deposit and withdrawal?

The deposit of LongAsia UnionPay will be reflected immediately in your account.

The processing time of withdrawal is within 24 hours. Please allow 5-7 business days to reflect in your bank account, depending on your respective bank.