Overview of ASN-FX
ASN-FX is a relatively new company that has been established for approximately 1-2 years. Although the company is registered at the Hinds Building in Kingstown, St. Vincent and the Grenadines, it operates from a business address located in Kuala Lumpur, Malaysia. It is important to note that ASN-FX is an unregulated entity, meaning it does not fall under the supervision of any financial regulatory authority. The company offers a range of market instruments for trading, including forex, precious metals/energy, cryptocurrencies, stock indices, and a payment gateway.
Traders using ASN-FX have access to the popular MetaTrader 4 (MT4) trading platform, a widely used platform known for its comprehensive features and user-friendly interface. The company provides different account types, namely Standard, Zero Spread, and Demo accounts. Leverage of up to 1:500 is offered, allowing traders to amplify their trading positions. However, it is worth mentioning that such high leverage can increase the potential risks associated with trading.
ASN-FX's customer support is primarily handled through an inquiry ticket system, which may indicate a limited level of direct assistance for clients. Geographically, the company imposes restrictions on residents from certain countries, including the United States, Canada, the Philippines, Sudan, Syria, North Korea, and Japan. To open an account with ASN-FX, traders are required to deposit a minimum amount of 5,000 yen, and no account opening fees are mentioned in the available information.
Regulation
ASN-FX is an unregulated financial company, so it is important to note that the company operates without any regulatory licenses or registrations from established financial authorities. The absence of regulation implies that there is no external supervision or oversight of ASN-FX's activities, exposing investors and traders to significant risks. Unregulated firms often lack the necessary safeguards and compliance measures to protect clients' funds and ensure fair trading practices. Moreover, in case of any disputes or grievances, clients may have limited avenues for redress or legal recourse. It is prudent for prospective clients to carefully evaluate these risks before engaging with an unregulated entity like ASN-FX.
Pros and Cons
The company offers a wide range of trading products, including Forex, precious metals, energy, cryptocurrencies, and stock indexes. ASN-FX provides leverage of up to 500 times, which allows traders to amplify their trading positions and potentially increase their profitability. The absence of an account opening fee makes it easier and more accessible for individuals to start trading with ASN-FX. This eliminates an additional financial barrier and allows traders to allocate their funds solely for trading purposes.
ASN-FX has restrictions on providing services to residents of certain countries, including the United States, Canada, Philippines, Sudan, Syria, and North Korea. Additionally, the company is not primarily intended for residents of Japan, as it is not registered with the Japan Financial Services Agency.The only customer service option provided by ASN-FX is an inquiry ticket system. While this system can be efficient, some traders may prefer more immediate and direct communication channels, such as live chat or phone support. This directly limits customers from access to the services offered
Market Instruments
ASN-FX provides a wide range of market instruments for traders to choose from, catering to their diverse needs. The company offers more than 50 carefully selected trading currency pairs, stocks, virtual currencies, and other trading products.
In Forex Margin Trading (FX), traders can access a dynamic market with a daily transaction volume of over $5 trillion. With a selection of more than 50 currency pairs, traders have ample opportunities to participate in this expansive market.
Precious metals and energy trading are also available through Contracts for Difference (CFD). Precious metals, known for their relative stability, have gained popularity as investment products. Energy resources, including crude oil, offer potential for short-term traders seeking opportunities in markets with significant price fluctuations.
Cryptocurrency trading has become increasingly popular, especially with the recognition of Bitcoin as a new financial asset. ASN-FX allows traders to engage in cryptocurrency trading with major currencies like BTC and ETH, offering leverage of up to 10 times.
For traders interested in stock indexes, ASN-FX provides the opportunity to trade popular stock indexes such as AUS200 and JP225. Stock indexes offer a direct reflection of a country's economic conditions, making them attractive for investors who prefer trading without specialized knowledge of individual companies.
ASN-FX continuously updates its range of trading products to meet the evolving needs of its customers. Whether traders are interested in Forex, precious metals, energy, cryptocurrencies, or stock indexes.
Leverage
ASN-FX offers leverage as one of the benefits of trading in the Forex market. Leverage is a concept that allows traders to magnify their trading positions relative to their deposited funds.
With leverage, traders can trade with a larger capital size than their initial deposit. For instance, if a trader deposits $10,000 and trades with $20,000, the leverage can be calculated as $20,000 ÷ $10,000 = 2 times leverage.
ASN-FX provides leverage of up to 500 times, allowing traders to trade with a significantly larger capital amount. This high leverage is an attractive investment method for many investors seeking to amplify their trading opportunities.
The leverage offered by ASN-FX is subject to variation based on the margin amount. When the margin held by the trader surpasses certain thresholds, the leverage will change accordingly. The table below illustrates the fluctuation in leverage and the corresponding magnification after the change according to the information on the website:
Account Types
ASN-FX offers three accoutn types in total, Standard, Zero Spread and Demo.
STANDARD Account:
The STANDARD account offered by ASN-FX is designed for general trading. It provides a spread of at least 1.5 pips without any transaction fees. Traders can enjoy a maximum leverage of 500 times and utilize the MT4 platform for their trading activities. With features like one-click trading and original trade analysis tools, users have access to convenient and comprehensive trading tools. The account also offers 24-hour speed deposit and withdrawal services. Traders can open a STANDARD account with a minimum deposit of 5,000 yen, and there are no account opening fees.
ZERO SPREAD Account:
The ZERO SPREAD account is suitable for traders who engage in scalping and require ultra-narrow spreads. With a minimum spread of 0.1 pips, this account type allows for precise trading. Similar to the STANDARD account, there are no transaction fees, and traders can leverage up to 500 times. The MT4 platform is available for trading, along with one-click trading functionality and original trade analysis tools. Deposits and withdrawals are processed quickly, providing 24-hour speed services. To open a ZERO SPREAD account, a minimum deposit of 5,000 yen is required, and no account opening fees are applicable. It's important to note that the same spread as the STANDARD account will be deducted as an external fee after settlement.
DEMO Account:
The DEMO account is specifically designed for practice purposes and allows users to engage in demo trading using the production trading environment. It offers a spread of at least 1.5 pips, without transaction fees. Traders can leverage up to 500 times and utilize the MT4 platform, which is widely recognized in the industry. The account features one-click trading and provides access to original trade analysis tools, allowing users to hone their trading skills. Deposits and withdrawals are processed swiftly, with 24-hour speed services available. Opening a DEMO account requires a minimum deposit of 5,000 yen, and there are no account opening fees.
Making an Account (Currently Broken)
In order to make an account with ASN-FX find the “Open Account” in the middle of the home page.
Unfortunately, upon entering the page, it is revealed that the account opening process is still in development.
Trading Platform
ASN-FX utilizes the popular and widely recognized trading platform, MetaTrader 4 (MT4), for its trading services. MT4 is a powerful and user-friendly platform that offers a comprehensive range of tools and features to enhance the trading experience.
With the MT4 platform, traders can access a wide selection of financial instruments, including forex, precious metals, energy, cryptocurrencies, and stock indices, providing a diverse range of trading opportunities. The platform offers real-time quotes, advanced charting capabilities, and various technical indicators, empowering traders to perform detailed market analysis and make informed trading decisions.
Customer Service
ASN-FX offers customer support through an inquiry ticket system, which serves as the primary channel for addressing customer inquiries and concerns. This system allows customers to submit their questions or issues through an online ticketing platform, enabling efficient communication with the company's support team.
Conclusion
In conclusion, ASN-FX is a trading company that aims to provide a safe and secure trading environment for its customers. With a focus on fair practices and the protection of customers' funds, the company offers a range of trading products, including Forex, precious metals, energy, cryptocurrencies, and stock indexes. Traders can choose from different account types, benefit from competitive leverage, and enjoy the convenience of no account opening fees. While the company operates primarily through an inquiry ticket system for customer support, it ensures efficient communication and assistance. However, it is important to note that ASN-FX has geographical restrictions on service and is not registered with the Japan Financial Services Agency. Overall, ASN-FX provides traders with opportunities to diversify their portfolios and engage in various trading activities within a secure and regulated framework.
FAQs
Q: What is the leverage offered by ASN-FX？
A: ASN-FX offers leverage of up to 500 times for trading activities.
Q: What are the geographical restrictions imposed by ASN-FX？
A: ASN-FX does not provide services to residents of the United States, Canada, Philippines, Sudan, Syria, and North Korea.
Q: What types of trading products are available with ASN-FX？
A: Forex, precious metals/energy, cryptocurrencies, stock indexes, and payment gateway services.
Q: What is the primary customer service option provided by ASN-FX？
A: The primary customer service option offered by ASN-FX is an inquiry ticket system.
Q: Are there any account opening fees with ASN-FX？
A: No, there are no account opening fees when creating an account with ASN-FX.
Q: What is the minimum deposit required to start trading with ASN-FX？
A: Traders can start trading with ASN-FX by making an initial deposit of at least 5,000 yen.
