East Asia Futures Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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20,000 RMB and earn 40,000 RMB profi. You can only withdraw rprinciple. No one handles the case even I report it.
In the world of forex trading, East Asia Futures has garnered attention, but the reviews present a mixed picture. While some sources highlight its long-standing presence in the market and regulatory oversight, others raise significant concerns about user experiences, particularly regarding withdrawals and customer support. This review aims to provide a comprehensive overview of East Asia Futures, summarizing its strengths and weaknesses based on various expert opinions and user feedback.
Note: It is essential to recognize that the regulatory environment can differ significantly across regions, which may affect the broker's operations and user experiences. This review incorporates a variety of sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5.7 |
| Tools and Resources | 6.0 |
| Customer Service and Support | 4.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 5.0 |
| User Experience | 5.5 |
We assess brokers based on comprehensive reviews, user experiences, and expert opinions.
Founded in 1989, East Asia Futures Limited operates from Hong Kong and is primarily focused on futures and options trading. The broker is regulated by the Securities and Futures Commission (SFC) of Hong Kong, which lends some credibility to its operations. However, it does not offer popular trading platforms like MetaTrader 4 or MetaTrader 5, opting instead for its proprietary BEA Electronic Network Futures System. The broker provides access to various financial instruments, including forex, commodities, and indices.
Regulated Areas: East Asia Futures is regulated in Hong Kong, which is a significant factor for traders considering the safety of their investments. However, it has been flagged for issues related to user withdrawals and overall customer service.
Deposit/Withdrawal Currencies: The broker operates primarily in HKD and offers limited options for deposits and withdrawals, which may not cater to a global audience.
Minimum Deposit: There is no minimum deposit requirement, which can be appealing to new traders. However, this lack of a threshold may also attract less serious traders.
Bonuses/Promotions: East Asia Futures does not appear to offer any bonuses or promotional offers, which is a notable drawback compared to other brokers.
Tradable Asset Classes: The broker provides a range of trading options, primarily focusing on futures and options, including Hang Seng Index futures. However, the absence of forex trading options may deter some traders.
Costs (Spreads, Fees, Commissions): The costs associated with trading on East Asia Futures can be complex. While there are no administrative fees, commissions vary by product, with some reports indicating relatively high trading costs. For instance, commissions for Hang Seng Index futures can reach up to HKD 100 per contract, which may be considered steep compared to other brokers.
Leverage: The broker offers leverage, although specific ratios were not detailed in the reviews. Traders should be cautious with leverage, as it can amplify both gains and losses.
Allowed Trading Platforms: As mentioned, East Asia Futures does not support widely used platforms like MT4 or MT5, which may limit the trading experience for many users who prefer these familiar interfaces.
Restricted Regions: While specific restricted regions were not mentioned, the lack of robust regulatory backing outside Hong Kong may deter traders from certain jurisdictions.
Available Customer Service Languages: Customer support appears to be limited, with services primarily offered in English and Chinese, which could be a barrier for non-native speakers.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5.7 |
| Tools and Resources | 6.0 |
| Customer Service and Support | 4.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 5.0 |
| User Experience | 5.5 |
Account Conditions (5.7): East Asia Futures offers flexible account conditions with no minimum deposit, but the lack of diverse account types and bonus structures is a disadvantage.
Tools and Resources (6.0): The broker provides basic trading tools but lacks advanced features found in other platforms, which may hinder traders looking for comprehensive analytical tools.
Customer Service and Support (4.5): User reviews indicate significant dissatisfaction with customer support, particularly regarding withdrawal issues. Many users have reported difficulties in retrieving their funds, raising concerns about the broker's reliability.
Trading Setup (6.0): While the proprietary trading platform is functional, the absence of popular trading platforms like MT4 and MT5 may limit the trading experience for many users accustomed to these systems.
Trustworthiness (5.0): Although regulated by the SFC, the broker has received negative feedback regarding user experiences, particularly with withdrawals, which affects its overall trustworthiness.
User Experience (5.5): Overall user experiences are mixed, with some users appreciating the ease of use of the platform, while others express frustration over customer service and withdrawal processes.
In conclusion, while East Asia Futures has a long-standing presence in the market and regulatory oversight, potential traders should exercise caution. The broker's mixed reviews, particularly concerning customer service and withdrawal issues, suggest a need for thorough research before committing funds. As always, it is advisable to choose a broker that aligns with your trading needs and offers a secure trading environment.
