Overview of ASIAN GATE
ASIAN GATE is an unregulated brokerage firm based in Sri Lanka. With 2-5 years of establishment, they offer diverse market instruments for Forex trading, catering to traders' different preferences. They provide two types of trading accounts, the Standard account, and the EA account, with a minimum initial deposit of $5. Traders can leverage their positions up to 1:500. The trading platform used is MetaTrader 4 (MT4), known for its robust features and user-friendly interface. ASIAN GATE accepts various payment methods, including credit cards, electronic payment methods, and remittances. They offer customer support via phone and email, available 24/5, to assist clients with inquiries and concerns.
Is ASIAN GATE legit or a scam？
ASIAN GATE, as mentioned earlier, does not have valid regulation at the moment. Regulation plays a crucial role in ensuring the legitimacy and accountability of financial institutions. Regulated brokers are subject to specific rules and guidelines set by regulatory authorities, which aim to protect the interests of investors and maintain market integrity. These regulations often include requirements for capital adequacy, client fund segregation, transparency, and fair trading practices.
Trading with an unregulated broker like ASIAN GATE carries certain risks. The absence of regulatory oversight means that there is no independent authority monitoring the broker's activities to ensure compliance with industry standards. This lack of regulation may raise potential conflicts of interest, and the overall reliability and transparency of the broker's operations. In the event of any disputes or issues, clients may have limited or no recourse for resolution.
Pros and Cons
ASIAN GATE offers a range of pros that can be beneficial to traders. They provide diverse market instruments, allowing traders to access a variety of trading options. The convenient online trading platform enables users to trade at their convenience. The availability of two types of trading accounts, Standard and EA, caters to different trading preferences.
The “No loss beyond deposit amount” feature provides a level of risk protection. ASIAN GATE offers tight spreads and competitive rates, ensuring competitive pricing. The fractional pip pricing allows for more precise and accurate pricing. The MetaTrader 4 platform, a widely used trading software, offers a user-friendly interface and various features.
However, there are certain cons to consider. ASIAN GATE is currently unregulated.This lack of oversight may create uncertainty regarding the safety of client funds and the fairness of trading practices. Additionally, they do not allow US residents to trade, limiting their accessibility. There may be potential longer fund transfer times, impacting the speed of transactions.
The customer support channels provided by ASIAN GATE may be limited, affecting prompt assistance. The withdrawal procedure can be complex, creating challenges for clients. Furthermore, the options for deposit and withdrawal are limited. Lastly, there are limited educational resources available, which may impact the learning and development of traders.
Market Instruments
ASIAN GATE, as a brokerage firm, offers a range of market instruments for Forex trading. These instruments allow customers to participate in the dynamic and fluid Forex market. Through ASIAN GATE's trading platform, customers can access real-time prices of various financial products and make informed decisions on buying or selling currencies.
ASIAN GATE provides a convenient online platform where customers can trade at any time and execute transactions based on their preferred prices. With access to the Forex market and its market instruments, ASIAN GATE enables customers to engage in currency trading and capitalize on opportunities in the global foreign exchange market.
Account Types
ASIAN GATE offers two types of trading accounts: Standard account and EA account.
The Standard account is designed for traders who prefer manual trading and offers a range of features. The basic currency options for this account are USD and JPY. The contract size is set at 1 lot = 100,000 units of the base currency. Traders can choose from leverage options ranging from 1x to 200x, allowing for flexible position sizing.
One notable feature of the Standard account is the “No loss beyond the deposit amount,” which means that traders cannot lose more than the initial deposit made into the account. This feature provides a level of risk protection. Additionally, there are no fees associated with this account, and traders can hold up to 200 positions, including pre-orders. The minimum transaction size is set at 0.01 lot, and the maximum lot limit per ticket is 100 lots. The Standard account does not offer trading or account opening bonuses.
The EA (Expert Advisor) account is specifically designed for traders who utilize automated trading strategies or use designated EAs. The basic currency options and contract size are the same as the Standard account, with USD and JPY as the base currencies and 1 lot equaling 100,000 units. The EA account provides higher leverage options, ranging from 1x to 500x for EAs designated by ASIAN GATE and 1x to 200x for other EAs.
Similar to the Standard account, there are no fees, and traders can hold up to 200 positions, including pre-orders. The minimum transaction size is 0.01 lot, and the maximum lot limit per ticket is 100 lots. However, the EA account does not have the “No loss beyond the deposit amount” feature. This means that traders should carefully manage their risk and set appropriate stop-loss orders to protect their capital. Similar to the Standard account, the EA account does not offer trading or account opening bonuses.
How to Open an Account？
Here are five general steps to open an account with a broker like ASIAN GATE:
Visit ASIAN GATE's Website: Go to the official website of ASIAN GATE, which is http://asian-gate-ltd.com/.
Account Registration: Look for a “Sign Up,” “Open Account,” or similar button on the website. Click on it to start the account registration process.
Complete the Application: Fill out the required information accurately in the application form. This typically includes personal details such as your name, email address, phone number, and country of residence. Make sure to provide accurate and up-to-date information.
Verify Your Identity: ASIAN GATE may require identity verification to comply with regulatory requirements. This usually involves submitting scanned copies of your identification documents (such as a passport or driver's license) and proof of address (such as a utility bill or bank statement).
Fund Your Account: Once your account is approved and verified, you will need to deposit funds into your trading account. ASIAN GATE's website should provide information on available payment methods, such as bank transfers, credit/debit cards, or electronic payment processors. Follow the instructions provided to make a deposit according to your preferred method.
Leverage
ASIAN GATE offers a maximum leverage of 1:500. Maximum leverage refers to the ratio between the amount of capital a trader has and the amount they can potentially trade. In the case of ASIAN GATE, a leverage of 1:500 means that for every $1 of capital a trader has, they can potentially trade up to $500 in the market.
Leverage allows traders to control larger positions with a smaller amount of capital, amplifying potential profits. However, it's important to note that leverage also magnifies potential losses, as traders are exposed to a higher level of risk. Therefore, it is crucial for traders to have a solid understanding of leverage and its associated risks before utilizing it in their trading strategies.
Spreads & Commissions
ASIAN GATE is committed to offering tight spreads to all its customers, regardless of their account type or transaction size. The company recognizes the importance of executing trades at competitive prices and places a strong emphasis on providing the best execution policy.
ASIAN GATE operates with floating spreads, similar to the interbank FX market. This means that the spreads can vary depending on market conditions and liquidity providers. Floating spreads allow for flexibility in pricing and ensure that traders have access to competitive rates.
One of the notable features offered by ASIAN GATE is fractional pip pricing. Instead of quoting prices with four digits, the company utilizes a five-digit value (fraction) to capture even the slightest price fluctuations. This fractional pip pricing enables traders to trade with tighter spreads and benefit from more precise and accurate pricing, maximizing the potential for optimal trade execution.
Trading Platform
ASIAN GATE provides a trading platform that is compatible with various devices, offering flexibility and accessibility to traders. The platform is based on the widely used MetaTrader 4 (MT4) software, which is known for its robust features and user-friendly interface. Traders can access the platform on their PCs, iPhones, iPads, Android smartphones, and Android tablets, allowing them to trade anytime and anywhere.
The PC version of the MT4 platform offers a comprehensive trading experience with a range of tools and features. Traders can access real-time market quotes, customize charts, and utilize technical indicators to analyze price movements. They can execute trades with ease and efficiency, set stop-loss and take-profit orders, and manage their positions effectively. The PC-compatible MT4 platform is ideal for traders who prefer a larger screen and more advanced functionality.
For traders who prefer to trade on the go, ASIAN GATE offers MT4 compatibility with mobile devices. The iPhone and iPad versions of the platform provide a seamless trading experience on Apple devices. Traders can monitor their positions, analyze charts, and execute trades directly from their iPhones or iPads. Similarly, the Android-compatible MT4 platform caters to traders using Android smartphones, while the Android tablet-compatible MT4 version offers an optimized trading experience for larger screens. These mobile platforms enable traders to stay connected to the markets, make informed trading decisions, and seize opportunities even when they are away from their PCs.
Deposit & Withdrawal
ASIAN GATE offers a wide variety of deposit methods to accommodate clients' preferences. These methods include various credit cards, electronic payment methods, overseas and domestic remittances, as well as other payment options.
Clients can log in to their member page, select their preferred payment method from the options listed on the deposit/withdrawal page, and follow the on-screen instructions to complete the deposit procedure. The minimum deposit amount is $5 (or equivalent in other currencies), and the maximum amount depends on the chosen payment method and the activation status of the trading account.
ASIAN GATE provides a straightforward withdrawal process for clients. Withdrawal requests are processed within 48 business hours. After submitting a withdrawal request, it will be reflected immediately in the trading account as a withdrawal being processed. The withdrawal will be processed in the currency in which the original deposit was made.
To initiate a withdrawal, clients must have an activated trading account. Activation requires submitting necessary documents, such as identification cards and address confirmation documents, through the member area. Once the account is activated, clients can log in to their member page, select the “Withdrawal” tab, and make a withdrawal request. Withdrawal requests are typically processed by the ASIAN GATE back office within 24 business days, excluding weekends.
Customer Support
Customer Support at ASIAN GATE can be contacted through various channels for assistance with inquiries and concerns. Here are the specific contact details:Phone: +94 760971457,Email: support@asian-gate-ltd.com.
The support desk operates 24 hours a day, five days a week, ensuring that clients can reach out for assistance at any time within those hours. Whether clients prefer to communicate via phone or email, the dedicated support team at ASIAN GATE is available to provide guidance and address any queries or issues that clients may have.
Educational Resources
ASIAN GATE currently offers educational resources primarily through its Frequently Asked Questions (FAQ) page. This page serves as a valuable source of information and guidance for clients, providing clear answers to common questions and addressing various aspects of trading and account management.
While there may not be additional educational resources available at this time, the comprehensive FAQ section aims to assist clients in understanding the platform, trading processes, and related inquiries. Clients can refer to this resource to enhance their knowledge and make more informed decisions in their trading activities.
Conclusion
ASIAN GATE is an unregulated brokerage firm based in Sri Lanka, offering diverse market instruments for Forex trading. They provide traders with two types of trading accounts, the Standard account and the EA account, along with a user-friendly MetaTrader 4 (MT4) trading platform. While ASIAN GATE offers competitive features such as tight spreads, a maximum leverage of up to 1:500, and a range of deposit and withdrawal methods, it's important to note that the lack of regulation raises concerns about the safety and transparency of their operations. Furthermore, limitations on customer support channels, accessibility for US residents, and educational resources should be considered.
FAQs
Q: Is ASIAN GATE a regulated brokerage firm？
A: No, ASIAN GATE is an unregulated brokerage firm.
Q: What are the account types offered by ASIAN GATE？
A: ASIAN GATE offers Standard and EA trading accounts.
Q: What is the minimum initial deposit required by ASIAN GATE？
A: The minimum initial deposit is $5.
Q: What is the maximum leverage provided by ASIAN GATE？
A: The maximum leverage is up to 1:500.
Q: What trading platform does ASIAN GATE use？
A: ASIAN GATE uses MetaTrader 4 (MT4) as its trading platform.
Q: How can I contact ASIAN GATE's customer support？
A: You can contact their customer support via phone and email.
Q: Does ASIAN GATE accept credit cards for deposit and withdrawal？
A: Yes, ASIAN GATE accepts various credit cards for deposit and withdrawal.
Q: Can US residents trade with ASIAN GATE？
A: No, ASIAN GATE does not allow US residents to trade.
2023-04-03 18:31
