First State Futures Broker Review

First State Futures 2025 Review: Everything You Need to Know

　　In this comprehensive review of First State Futures, we delve into the key aspects of this brokerage, exploring user experiences, expert opinions, and the overall reliability of the services it offers. The consensus among various sources indicates significant concerns regarding the broker's regulatory status and user satisfaction, with many reviews highlighting serious issues related to fund withdrawals and customer support.

　　Note: It is crucial to consider the varying regulatory environments across regions when evaluating brokers like First State Futures. The information presented here aims for fairness and accuracy, drawing from multiple sources for a well-rounded perspective.

Ratings Overview

　　We assess brokers based on user feedback, expert opinions, and factual data regarding their services.

Broker Overview

　　First State Futures, established in Indonesia, operates with a focus on forex and CFD trading. The broker utilizes the popular MetaTrader 4 platform, catering to a diverse range of trading needs. It offers access to various asset classes, including forex, commodities, and indices. However, the regulatory landscape for First State Futures is concerning, as it is reported to be unregulated in many jurisdictions, raising red flags for potential investors.

Detailed Analysis

Regulatory Status

　　First State Futures is primarily regulated by the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti) and the Indonesia Commodity and Derivatives Exchange (ICDX). However, there are serious concerns regarding its regulatory compliance. Reports indicate that its Bappebti license has been revoked, and its operations are flagged as a "suspicious clone" by multiple sources, including WikiBit and Reliable Forex Broker. This lack of reliable regulation makes it a risky choice for traders, as they may not have legal recourse in case of disputes.

Deposit and Withdrawal Options

　　The broker supports deposits and withdrawals primarily through bank transfers, with no detailed information available regarding cryptocurrency options. While the minimum deposit requirements are not explicitly stated, most brokers typically require at least $100 to open an account. Users have reported difficulties in withdrawing funds, with many complaints suggesting that the broker delays or denies withdrawal requests, which is a significant concern for anyone considering First State Futures.

Asset Classes

　　First State Futures offers a variety of trading instruments, including forex, commodities, and stock indices. However, the lack of clarity regarding the specifics of these offerings, such as spreads and fees, adds to the uncertainty surrounding the broker. While some reviews mention competitive transaction fees starting from as low as $0.1, the inconsistency in reported costs raises questions about transparency.

Trading Platforms

　　The primary trading platform offered by First State Futures is MetaTrader 4, which is widely recognized for its user-friendly interface and analytical tools. However, the absence of a proprietary platform may limit some advanced traders who prefer more customized trading environments. Additionally, the lack of mobile trading options beyond MT4 is a drawback, especially for traders who rely on mobile access for their trading activities.

Customer Service and Support

　　Customer service for First State Futures is another area of concern. Multiple reviews indicate long wait times and unresponsive support, with users expressing frustration over the difficulty in getting timely assistance. The broker provides customer support in Indonesian, which may pose a barrier for international clients who do not speak the language.

Summary Ratings

Detailed Breakdown

• 　　Account Conditions (5/10): First State Futures does not provide a clear overview of account types or minimum deposit requirements, leading to uncertainty for potential traders.

• 　　Tools and Resources (6/10): The availability of the MetaTrader 4 platform is a plus, but the lack of proprietary tools may deter some users.

• 　　Customer Service and Support (4/10): Numerous complaints regarding slow response times and ineffective support highlight significant gaps in customer service.

• 　　Trading Setup (5/10): While the platform is user-friendly, the absence of mobile trading options limits flexibility for traders.

• 　　Trustworthiness (3/10): Given the revoked licenses and negative reviews regarding fund withdrawals, trust in First State Futures is considerably low.

• 　　User Experience (4/10): Overall user experiences are mixed, with many reporting issues that overshadow the potential benefits of trading with this broker.

　　In conclusion, while First State Futures offers some appealing features, the numerous red flags regarding its regulatory status, customer service, and user experiences make it a broker that potential traders should approach with caution. The concerns raised in this First State Futures review suggest that it may be prudent to consider more reputable and regulated alternatives in the forex market.