First State Futures Broker Review

　　

First State Futures 2025 Review: Everything You Need to Know

　　

Executive Summary

　　First State Futures is a regulated futures brokerage company. The company was established in 2018 and has its headquarters in Surabaya, East Java, Indonesia. This first state futures review shows an overall rating of 7/10 based on user feedback and regulatory standing. The broker works under Indonesian regulatory oversight. The company has been providing trading services since getting its license in 2010, but active operations started in 2018.

　　The company stands out by offering both MetaTrader 4 and MetaTrader 5 trading platforms. It supports many different trading instruments including forex, commodities, individual US stocks, and precious metals like gold. Available reports show that First State Futures has received 2 positive user reviews. This indicates a generally favorable reception among its client base.

　　The broker mainly targets traders interested in diversified investment opportunities. It particularly focuses on those seeking exposure to Southeast Asian markets. With its Indonesian regulatory foundation and focus on futures trading, First State Futures appeals to investors looking for alternatives to traditional European or US-based brokers. The company's emphasis on commodity and futures trading makes it suitable for traders seeking specialized market access in the Asia-Pacific region.

　　

Important Notice

　　Regional Entity Differences: First State Futures operates under the regulatory framework of the Indonesian Ministry of Trade. This may differ significantly from requirements imposed by major regulatory bodies such as the Financial Conduct Authority or the Cyprus Securities and Exchange Commission. Traders should be aware that regulatory protections and standards may vary from those offered by brokers regulated in major financial centers.

　　Review Methodology: This evaluation is based on analysis of publicly available information, user feedback, and industry standards. The assessment reflects information available as of 2025. It may be subject to changes in the broker's services or regulatory status.

　　

Rating Framework

Criteria	Rating	Score
Account Conditions	⭐⭐⭐⭐⭐⭐	6/10
Tools and Resources	⭐⭐⭐⭐⭐⭐⭐⭐	8/10
Customer Service and Support	⭐⭐⭐⭐⭐⭐⭐	7/10
Trading Experience	⭐⭐⭐⭐⭐⭐⭐	7/10
Trust and Safety	⭐⭐⭐⭐⭐⭐	6/10
User Experience	⭐⭐⭐⭐⭐⭐⭐	7/10

　　

Broker Overview

　　First State Futures emerged in the Indonesian financial landscape with its establishment in 2018. The company built upon a regulatory foundation that dates back to 2010 when it first obtained its operating license. Based in Surabaya, East Java, the broker represents a regional alternative for traders seeking exposure to Asian markets through a locally regulated entity. The company operates as PT First State Futures, reflecting its incorporation under Indonesian corporate law and its specialization in futures trading services.

　　The broker's business model centers on providing comprehensive futures and commodities trading services. This distinguishes it from traditional forex-focused brokers. The specialization allows First State Futures to cater to traders interested in commodity markets, precious metals, and futures contracts, while also maintaining capabilities in foreign exchange and equity trading. The company's regional focus and specialized approach have positioned it as a niche player in the Southeast Asian brokerage landscape.

　　First State Futures operates through industry-standard MetaTrader 4 and MetaTrader 5 platforms. This ensures traders have access to familiar and robust trading environments. The broker's asset coverage spans multiple categories including foreign exchange pairs, commodity futures, individual US stocks, and precious metals with particular emphasis on gold trading. This diversified offering allows clients to construct varied portfolios across different asset classes through a single trading account.

　　The company operates under the regulatory oversight of the Indonesian Ministry of Trade. It holds license number 18/BAPPEBTI/PN/3/2010. This regulatory framework provides a foundation for the broker's operations within Indonesian jurisdiction, though traders should note the differences between Indonesian regulatory standards and those of major international financial centers. The first state futures review indicates that while the broker maintains regulatory compliance, the scope of protection may differ from what traders might expect from European or US-regulated entities.

　　

Detailed Information

　　Regulatory Jurisdiction: First State Futures operates under Indonesian regulatory oversight through the Ministry of Trade. It holds license number 18/BAPPEBTI/PN/3/2010. This regulatory framework governs the broker's operations within Indonesian jurisdiction and provides the legal foundation for its trading services.

　　Deposit and Withdrawal Methods: Specific information regarding deposit and withdrawal methods is not detailed in available materials. Potential clients need to contact the broker directly for comprehensive information about funding options and processing procedures.

　　Minimum Deposit Requirements: The minimum deposit requirements for opening trading accounts with First State Futures are not specified in available documentation. This requires direct inquiry with the broker for current account opening requirements.

　　Promotional Offerings: Available materials do not detail specific bonus structures or promotional campaigns offered by First State Futures. Traders should inquire directly about any current incentive programs or account benefits.

　　Tradeable Assets: The broker provides access to multiple asset categories including foreign exchange pairs, commodity futures, individual US stocks, and precious metals trading with particular focus on gold markets. This diversified offering supports various trading strategies across different market sectors.

　　Cost Structure: Specific information regarding spreads, commissions, and other trading costs is not detailed in available materials. Traders need to contact the broker directly for current pricing information and fee structures.

　　Leverage Options: Available documentation does not specify the leverage ratios offered by First State Futures. Traders should expect leverage options to comply with Indonesian regulatory requirements for retail trading accounts.

　　Platform Selection: First State Futures supports both MetaTrader 4 and MetaTrader 5 platforms. This provides traders with access to advanced charting tools, technical indicators, and automated trading capabilities through these industry-standard platforms.

　　Geographic Restrictions: Specific information about geographic trading restrictions is not detailed in available materials. The broker's Indonesian regulatory status may influence service availability in certain jurisdictions.

　　Customer Support Languages: Available materials do not specify the languages supported by First State Futures customer service. Given the broker's Indonesian operations, support is likely available in Indonesian and potentially English.

　　This first state futures review highlights the need for potential clients to conduct direct communication with the broker to obtain comprehensive details about trading conditions and account specifications.

　　

Detailed Rating Analysis

　　

Account Conditions Analysis

　　First State Futures presents a mixed picture regarding account conditions. It earns a rating of 6/10 in this category. While the broker offers access to professional trading platforms and multiple asset classes, the lack of detailed information about account types, minimum deposit requirements, and specific account features limits the ability to fully assess the competitiveness of their offerings. Available materials do not specify whether the broker offers different account tiers, Islamic accounts for Muslim traders, or specialized account types for different trading strategies.

　　The account opening process details are not comprehensively documented in available sources. This may create uncertainty for potential clients about requirements and procedures. The lack of transparency regarding account specifications represents a significant drawback compared to brokers that provide detailed account information upfront. The broker's Indonesian regulatory environment may also mean that account protections and features differ from what traders might expect from European or US-regulated entities.

　　Without specific information about deposit requirements, account maintenance fees, or inactivity charges, traders cannot easily compare First State Futures' account conditions with other brokers in the market. This first state futures review notes that while the broker appears to maintain legitimate operations, the limited transparency regarding account terms represents an area for improvement.

　　The regulatory framework under Indonesian oversight provides some level of protection. However, the specific nature of client fund segregation, negative balance protection, and other account safeguards is not clearly detailed in available materials. This uncertainty may influence trader confidence in the broker's account conditions.

　　

Tools and Resources Analysis

　　First State Futures demonstrates strong performance in tools and resources. It earns an 8/10 rating based on its platform offerings and asset diversity. The broker provides access to both MetaTrader 4 and MetaTrader 5 platforms, which are industry standards offering comprehensive charting capabilities, technical analysis tools, and automated trading support through Expert Advisors. These platforms provide traders with professional-grade tools for market analysis and trade execution across multiple asset classes.

　　The availability of both MT4 and MT5 allows traders to choose their preferred platform based on specific needs and trading strategies. MetaTrader 5 offers additional features including more timeframes, economic calendar integration, and enhanced order management capabilities, while MetaTrader 4 remains popular for its simplicity and extensive community support for automated trading systems.

　　First State Futures supports trading across multiple asset categories including forex, commodities, US stocks, and precious metals. This provides traders with diversification opportunities through a single platform. The multi-asset approach allows for portfolio diversification and the ability to capitalize on opportunities across different market sectors.

　　However, available materials do not detail specific research resources, educational content, or market analysis tools beyond the standard platform offerings. The absence of proprietary research tools, daily market commentary, or educational resources may limit the broker's appeal to traders seeking comprehensive market insights and learning materials. User feedback indicating a 7/10 overall rating suggests that while the basic tools are adequate, there may be room for enhancement in additional resources and support materials.

　　

Customer Service and Support Analysis

　　Customer service and support at First State Futures receives a 7/10 rating based on available user feedback and operational information. The broker maintains customer service operations from the FIRSTALINDO building, providing a physical presence for client support. Available information indicates service hours beginning at 09:00, though complete service hour details are not specified in available materials.

　　User feedback suggests generally positive experiences with customer support. This contributes to the overall 7/10 user rating for the broker. The feedback indicates that while the service may not be exceptional, clients generally receive adequate assistance when needed. The positive user feedback suggests that the broker maintains responsive customer service standards and addresses client inquiries effectively.

　　However, the lack of detailed information about customer service channels, response times, and available support languages represents a limitation in evaluating the full scope of support services. Modern traders typically expect multiple contact methods including live chat, email support, and telephone assistance, but specific availability of these channels is not confirmed in available materials.

　　The broker's Indonesian base may provide advantages for local clients in terms of language support and time zone alignment. International clients may face limitations in terms of support availability during their local trading hours. The absence of detailed information about multilingual support capabilities may also impact the broker's accessibility for international traders seeking customer service in their preferred language.

　　

Trading Experience Analysis

　　The trading experience at First State Futures earns a 7/10 rating. This reflects the solid foundation provided by MetaTrader platforms while acknowledging areas where more information would enhance evaluation. The availability of both MT4 and MT5 platforms ensures traders have access to professional trading environments with comprehensive charting tools, technical indicators, and order management capabilities. These platforms are known for their stability and functionality across different market conditions.

　　The broker's multi-asset approach allows traders to access forex, commodities, US stocks, and precious metals through unified platform interfaces. This provides convenience for traders seeking portfolio diversification. The variety enables different trading strategies and market approaches, from short-term forex trading to longer-term commodity investments.

　　User feedback contributing to the overall 7/10 rating suggests that traders generally find the trading experience satisfactory. However, specific details about execution speeds, slippage rates, or platform performance during high volatility periods are not detailed in available materials. The absence of specific performance metrics makes it difficult to assess how the broker performs during challenging market conditions.

　　Mobile trading capabilities, while likely available through standard MetaTrader mobile applications, are not specifically confirmed or detailed in available information. Modern traders increasingly rely on mobile platforms for market monitoring and trade management, making mobile functionality an important component of overall trading experience. This first state futures review notes that while the foundation appears solid, more detailed performance information would enhance trader confidence.

　　

Trust and Safety Analysis

　　Trust and safety considerations for First State Futures result in a 6/10 rating. This reflects the broker's regulatory status while acknowledging limitations in transparency and international recognition. The broker operates under Indonesian Ministry of Trade oversight with license number 18/BAPPEBTI/PN/3/2010, providing a regulatory foundation for its operations within Indonesian jurisdiction.

　　However, Indonesian regulatory oversight may not provide the same level of protection or international recognition as regulation by major authorities such as the FCA, CySEC, or ASIC. This regulatory difference may influence trader confidence, particularly for international clients accustomed to the protections offered by major financial centers. The specific nature of client fund segregation, compensation schemes, or negative balance protection under Indonesian regulation is not clearly detailed in available materials.

　　The broker's operational history since 2018, building on a license obtained in 2010, provides some track record for evaluation. However, the relatively recent active operations mean less historical performance data is available compared to more established brokers. User feedback suggesting trust concerns about fund safety indicates that some clients may have reservations about the security of their investments.

　　The lack of detailed information about company financial strength, insurance coverage for client funds, or third-party auditing of client account segregation represents transparency gaps that may impact trader confidence. While no specific negative incidents are reported in available materials, the limited transparency regarding safety measures and protections may influence risk-conscious traders' decisions.

　　

User Experience Analysis

　　User experience at First State Futures achieves a 7/10 rating based on available feedback and operational characteristics. The overall user satisfaction rating of 7/10 suggests that clients generally find their experience with the broker acceptable, though there may be areas for improvement to achieve higher satisfaction levels. The positive user reviews indicate that the broker successfully meets basic client expectations for trading services and support.

　　The broker's target audience of traders interested in Southeast Asian markets and diversified investment opportunities appears to align well with its service offerings. The combination of futures specialization and multi-asset trading capabilities provides value for traders seeking alternatives to traditional European or US-based brokers. This regional focus may particularly appeal to traders familiar with Asian markets or seeking geographic diversification in their broker relationships.

　　However, the limited availability of detailed information about account features, trading conditions, and service specifications may impact the user experience for traders who prefer comprehensive transparency before committing to a broker. Modern traders typically expect detailed information about all aspects of their trading environment, and the information gaps noted throughout this review may create friction in the client acquisition process.

　　The registration and verification processes, fund management procedures, and ongoing account management experiences are not detailed in available materials. This makes it difficult to assess these important components of overall user experience. The absence of specific user complaints or detailed feedback about common issues limits the ability to identify and address potential user experience challenges.

　　

Conclusion

　　First State Futures presents itself as a regulated futures brokerage offering legitimate trading services through established platforms. It earns an overall assessment that reflects both strengths and areas for improvement. The broker's Indonesian regulatory foundation, combined with MetaTrader platform access and multi-asset trading capabilities, provides a functional trading environment for clients seeking exposure to Southeast Asian markets and diversified investment opportunities.

　　This first state futures review identifies the broker as most suitable for traders specifically interested in the Southeast Asian region, commodity futures trading, and those seeking alternatives to traditional Western-regulated brokers. The positive user feedback and 7/10 overall rating suggest that existing clients generally find value in the broker's services, though the limited transparency regarding specific trading conditions represents a notable consideration.

　　The main advantages include access to professional MetaTrader platforms, regulatory oversight providing operational legitimacy, and specialization in futures and commodities trading that may appeal to specific trader segments. However, the limited information transparency, regional regulatory framework differences from major financial centers, and gaps in detailed service specifications represent areas where potential improvements could enhance trader confidence and market competitiveness.