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The WikiFX Score of this broker is reduced because of too many complaints!

ASA SECURITIES

Hong Kong|10-15 years|
Regulated in Hong Kong|Dealing in futures contracts|Suspicious Scope of Business|Medium potential risk|

http://www.asasec.com/en/

Website

Rating Index

Contact

+852 3971 3668
cs@asasec.com
http://www.asasec.com/en/
Room 1803-10, 18 / F, China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+852 3971 3668

Broker Information

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Company Name

ASA SECURITIES LIMITED

Company Abbreviation

ASA SECURITIES

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts
Previous Detection : 2024-03-28
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

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ASA SECURITIES · Company Summary

ASA SECURITIES Basic Information
Company Name ASA SECURITIES
Founded 2010
Headquarters Hong Kong
Regulations SFC
Products and Services Hong Kong securities trading
Trading Platforms Mobile apps for Android and iPhone
Fees Commission: 0.25% (min. HKD 100), transaction levies, trading fees, scrip handling fees, account maintenance, and banking services
Deposit Methods Cheque, cash/ATM transfers, internet banking, remittance
Customer Support Hotlines for Hong Kong ((852) 3971 3668) and China (400 120 2067), Fax ((852) 39713600), Email (cs@asasec.com), Physical office in Hong Kong
Products and Services Hong Kong securities trading

Overview of ASA SECURITIES

ASA Securities, established in 2010 in Hong Kong, is a regulated brokerage firm offering Hong Kong securities trading. The firm prides itself on a user-friendly mobile trading experience, accessible on both Android and iPhone platforms. ASA Securities emphasizes transparency in its fee structure, which includes commissions, trading fees, and account maintenance charges, among others. It supports multiple deposit and withdrawal methods, ensuring flexibility for its clients. Customer support is robust, featuring dedicated hotlines, email, and a physical office location.

Overview of ASA SECURITIES

Is ASA SECURITIES Legit?

ASA Securities is regulated by the Securities and Futures Commission (SFC) of Hong Kong. It holds a license for dealing in futures contracts, with the license number ASU517, indicating that it operates within the regulatory framework established by the SFC in Hong Kong.

Is ASA SECURITIES Legit?

Pros and Cons

ASA Securities, with its comprehensive offerings in Hong Kong securities trading, regulated by the Securities and Futures Commission of Hong Kong, provides a secure and dependable trading environment. The firm's mobile trading platforms for Android and iPhone cater to the modern trader's needs for convenience and accessibility. The transparent fee structure and multiple methods for deposit and withdrawal further enhance its appeal. However, the focus primarily on Hong Kong securities may limit investment options for those seeking more diverse international opportunities. Additionally, while customer support is robust, the lack of extensive educational resources might be a drawback for novice investors seeking to learn.

Pros Cons
  • Regulated by the SFC
  • Limited to Hong Kong securities trading
  • Mobile trading on Android and iPhone
  • Lack of extensive educational resources
  • Transparent fee structure
  • Multiple deposit and withdrawal methods
  • Robust customer support

Products and Services

ASA Securities offers Hong Kong securities trading with a policy that prohibits short selling, requiring clients to have sufficient securities in their account before placing a sell order. Settlement of stocks must occur before 3:00 p.m. on the second settlement day following the transaction day. Orders can be placed via the internet, phone, or in person, with ASA confirming instructions through their trading system or by phone.

Products and Services

How to Open an Account

To open an account with ASA SECURITIES, follow these steps.

  1. Visit the ASA SECURITIES website. Look for the “Online Account Open” button on the homepage and click on it.

How to Open an Account
  1. Sign up on websites registration page.

How to Open an Account
  1. Receive your personal account login from an automated email

  2. Log in

You will need to prepare the following documents:

-Your identity card, specifically a valid personal resident identity card.

-Proof of address, including your name and detailed address information.

Trading Platforms

ASA Securities provides trading platforms accessible via mobile apps for both Android and iPhone users, facilitating trading on the go.

Trading Platforms

Fees

ASA Securities charges fees across several categories, including trade-related services, scrip handling, nominee services, account maintenance, and banking services. Highlights include:

- Commission: 0.25% per transaction, with a minimum of HKD 100.

- Transaction Levies and Fees: Including SFC levy at 0.0027%, FRC levy at 0.00015%, HKEX trading fee at 0.005%, and CCASS stock settlement fee at 0.005% (min HKD 5).

- Stamp Duty: HKD 1 for every HKD 1,000 transacted, rounded to the nearest dollar.

- Scrip Handling Fees: Physical scrip deposit and withdrawal fees are HKD 5 per transfer deed and HKD 5 per board lot (min HKD 50 per stock), respectively. CCASS settlement instruction fees vary, with some services free and others charged based on stock market value or fixed fees.

- Nominee Services and Corporate Actions: Fees include scrip fees (HKD 2.5 per board lot), dividend collection fees (0.5% of dividend amount, min HKD 20), and specific charges for handling corporate actions.

- Account Maintenance and Other Services: Overdue interest on cash accounts is Bank Prime Rate + 10%. There are also fees for IPO applications (HKD 100 per transaction), share buy-backs, claiming unclaimed entitlements, and retrieving monthly statements, among others.

- Banking Service Charges: Include fees for telegraphic transfers (HKD 200 plus bank charges), returned cheques (HKD 100 per cheque), and local bank transfers (CHATS) at HKD 200 per transaction.

- Information Service: Real-time quote service from AAStocks is HKD 338 per month, with a service deposit required upon subscription.

Fees

Deposit & Withdraw Methods

ASA Securities enables fund deposits via cheque (in-person delivery or direct bank deposit), cash/ATM transfers, internet banking, and remittance. Deposits require account details and confirmation through fax or email, with no third-party payments accepted. Cheque deposits are available post-honoring.

Deposit & Withdraw Methods

Customer Support

ASA Securities provides customer support through hotlines for Hong Kong ((852) 3971 3668) and China (400 120 2067), along with a fax number ((852) 39713600) and email (cs@asasec.com). Their office, located at Room 1803-07, 18/F, China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong, operates from Monday to Friday, 9:00-18:00.

Customer Support

Conclusion

ASA Securities stands out as a reputable brokerage in Hong Kong, appealing to both local and international investors with its SFC regulation, mobile trading platforms, and transparent fees. While it offers robust customer support and multiple financial transaction methods, the brokerage could benefit from providing more educational resources to its clients. Overall, ASA Securities represents a solid choice for traders focused on Hong Kong securities, offering a blend of security, convenience, and reliability.

FAQs

Q: Is ASA Securities regulated?

A: Yes, it is regulated by the Securities and Futures Commission of Hong Kong, ensuring a secure trading environment.

Q: What trading platforms does ASA Securities offer?

A: It provides trading platforms accessible via mobile apps for both Android and iPhone users.

Q: What fees does ASA Securities charge?

A: Fees include a 0.25% commission on transactions (minimum HKD 100), with additional charges for transactions, scrip handling, and account maintenance.

Q: How can I open an account with ASA Securities?

A: You can open an account by visiting their website, signing up on the registration page, and following the instructions received via email.

Q: What customer support options are available at ASA Securities?

A: Customer support is available through hotlines for Hong Kong and China, a fax number, email, and a physical office in Hong Kong.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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