First State Futures
Pros and Cons
Pros
- Regulated by the Indonesian Ministry of Trade
- Diverse trading instruments: Forex, commodities, US stocks
- Supports MetaTrader 4 and MetaTrader 5 platforms
- Competitive trading conditions with no deposit or withdrawal fees
- Dedicated customer support available via email and phone
Cons
- Regulatory oversight limited to Indonesia
- Lack of detailed information on trading costs and spreads
- Customer support response times could be improved
- No advanced educational resources or market analysis tools
- Inactivity fee of $50 after 30 days
Basic Information
User Reviews
First State Futures Overview
First State Futures is a forex broker established in 2018 and headquartered in Surabaya, Indonesia. The broker operates under the regulatory oversight of the Indonesian Ministry of Trade, holding the license number 18 / bappebti / pn / 3 / 2010. With a focus on providing trading services in the Southeast Asian market, First State Futures is positioned as a reliable option for traders seeking exposure to local and international markets, backed by its regulatory framework and operational history of 2-5 years.
The broker offers a diverse range of trading instruments including forex, commodities, and individual US stocks, catering to various trading strategies and preferences. First State Futures supports both MetaTrader 4 and MetaTrader 5 platforms, equipped with essential trading tools and features that enhance the trading experience. Customer support is available, although specifics regarding responsiveness and service hours are not detailed. The broker distinguishes itself through its specialized approach in futures trading, appealing to clients interested in commodity markets and seeking alternatives to traditional brokers based in Europe or the US.
Is First State Futures Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Indonesian Ministry of Trade | Indonesia | Regulated under Bappebti License 18 / bappebti / pn / 3 / 2010 |
Is First State Futures Regulated and How Are Client Funds Protected?
First State Futures is regulated by the Indonesian Ministry of Trade, holding the license number 18 / bappebti / pn / 3 / 2010. This regulatory framework provides a level of oversight for its operations within Indonesia. While being regulated offers a degree of legitimacy and operational compliance, it is essential to note that the scope of investor protection may differ from that provided by brokers regulated in major international financial centers. Specific details regarding client fund protection measures, such as fund segregation or compensation schemes, are not extensively outlined. Thus, potential clients should consider these factors when assessing the safety and reliability of their investments with First State Futures.
Trading Products and Services
What Trading Instruments Does First State Futures Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
First State Futures offers a diverse range of trading instruments that cater to various trading strategies and preferences. With a solid focus on forex, commodities, indices, stocks, and cryptocurrencies, traders can engage in a wide array of markets. This diversity allows both beginners and seasoned investors to explore different asset classes, enhance their portfolios, and adapt their trading strategies according to market conditions. By supporting multiple asset categories, First State Futures enables traders to effectively diversify their investments and strategically manage risks, making it a suitable choice for various trading styles.
Account Types and Trading Conditions
What Account Types and Fees Does First State Futures Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and general traders | Access to a variety of markets with competitive spreads | Suitable for small-capital traders and those new to trading |
| Professional Account | Experienced traders | High leverage options and tighter spreads | Requires higher trading volume qualifications |
| Corporate Account | Corporate clients | Customized services and dedicated support | Requires corporate documentation for setup |
| Islamic Account | Traders of Islamic faith | Swap-free trading environment | Must adhere to Islamic financial principles |
| Demo Account | All traders for practice | Risk-free trading with virtual funds | Ideal for testing strategies before live trading |
Account Opening Process
To open an account with First State Futures, follow these steps: 1. Visit the official website and navigate to the registration section. 2. Provide your personal details, including full name, email, and password. 3. Agree to the terms of service and privacy policy. 4. Verify your email by clicking the activation link sent to your inbox. 5. Submit identity verification documents, such as ID and proof of address. 6. Complete any additional financial information required. The process allows for flexibility, including the option to upgrade to a professional account later.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Tight spreads for major currency pairs |
| CFDs (Stocks) | Varies | $0 | Commission-free trading on select stocks |
| CFDs (Indices) | Varies | $0 | Access to major indices |
| Commodities (Gold, Oil) | Varies | $0 | Competitive pricing on key commodities |
| Cryptocurrencies (BTC, ETH) | Varies | $0 | Variable spreads based on market conditions |
Other Fees
First State Futures does not charge deposit or withdrawal fees. However, an inactivity fee of $50 applies if the account remains inactive for 30 consecutive days. Other potential costs may include overnight interest (swap rates) and currency conversion fees, depending on trading activities.
Trading Platforms and Apps
What Trading Platforms and Apps Does First State Futures Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 | Windows, macOS, iOS, Android | Login security (encryption), market search, multiple order types, technical indicators | Demo account available |
| MetaTrader 5 | Windows, macOS, iOS, Android | Login security (encryption), market search, advanced order management, economic calendar | Demo account available |
| Web Version | Any device with internet access | Login security (encryption), market search, quick order execution | Demo account available |
| Mobile App | iOS, Android | Login security (biometrics), price alerts, push notifications | Demo account available |
First State Futures offers a solid selection of trading platforms designed to cater to various trader needs. MetaTrader 4 is ideal for those who appreciate a straightforward interface and a wealth of technical indicators, while MetaTrader 5 provides enhanced features for advanced trading strategies. The mobile app supports secure logins and real-time notifications, ensuring traders can manage their accounts conveniently. Additionally, the web version enables access from any device, facilitating market engagement without the need for software installation. Overall, First State Futures robustly supports mobile trading, secure logins, fast order execution, and efficient search tools across its platforms.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 2–3 business days | No platform fee | Min 50, Max 10,000 | IDR, USD |
| Local E-Wallets | Instant | No platform fee, 1.5% charge for withdrawals | Min 50, Max 5,000 | IDR |
| Credit/Debit Card | 1–2 business days | No platform fee | Min 50, Max 20,000 | IDR, USD |
Minimum Deposit
The minimum deposit requirement for First State Futures is $50. This amount remains consistent across various payment methods and account types, making it accessible for both new and experienced traders.
How to Withdraw
- Log in to your First State Futures account.
- Navigate to the withdrawal section of your account dashboard.
- Select your preferred payment method for withdrawal.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Provide any required verification information.
- Submit your withdrawal request and wait for processing.
Customer Support
First State Futures Customer Support Overview
Support Channels
First State Futures provides multiple contact methods for customer support to ensure that clients can easily reach out for help. These channels include:
- Email: Clients can contact support via email at info@firststate-futures.com for assistance with their inquiries.
- Telephone: The broker offers a phone support line at +62 031 5055599 (ext: 212) for direct communication.
- Social Media: First State Futures maintains a presence on platforms like Facebook, allowing clients to connect and seek support through social channels.
Service Availability
The customer service at First State Futures operates from 09:00 to 17:00 WIB, ensuring that support is available during standard business hours. However, specific details regarding 24/7 support or multilingual assistance have not been provided, so clients may want to inquire directly about available languages when contacting support.
Frequently Asked Questions
Yes, First State Futures is regulated by the Indonesian Ministry of Trade, holding the license number 18 / bappebti / pn / 3 / 2010. This regulatory framework provides a level of oversight for its operations within Indonesia, although the scope of investor protection may differ from that of brokers regulated in major international financial centers.
First State Futures offers a diverse range of trading instruments including forex, commodities (such as gold and oil), indices (like S&P 500 and NASDAQ), stocks (from the US and UK), and cryptocurrencies (including BTC and ETH). This variety allows traders to explore different asset classes and adapt their strategies based on market conditions.
First State Futures provides several account types to cater to different user groups. These include a Retail Account for beginners and general traders, a Professional Account for experienced traders with higher trading volume, a Corporate Account for corporate clients, an Islamic Account for traders of Islamic faith, and a Demo Account for practice with virtual funds.
Customers can reach out to First State Futures through multiple channels. Support is available via email at info@firststate-futures.com, by telephone at +62 031 5055599 (ext: 212), and through social media platforms like Facebook. Customer service operates from 09:00 to 17:00 WIB.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.