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First State Futures Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-05 10:41

Abstract：PT. First State Futures, based in Surabaya, operates multiple branch offices in cities such as Bali, Jember, and Solo. As a licensed member of the futures exchange and with BAPPEBTI endorsement, the company offers trading platforms like JAFeTS NOW and MT4.

First State Futures Review Summary
Founded	2022
Registered Country/Region	Indonesia
Regulation	Regulated by ICDX
Market Instruments	American single stocks, currencies, metals & energy, stock indices, micro multilateral, commodities (CPO, Olein, Cocoa, coffee)
Demo Account	✅
Leverage	/
Spread	/
Trading Platform	JAFeTS NOW and MT4 trading platform
Min Deposit	/
Customer Support	09:00 - 05:00 WIB
	Tel: +6231-505-5599 (ext: 212)
	Fax: +6231-503-8885
	Email: info@firststate-futures.com
	Facebook, Twitter, Linkedin, Telegram
	Address: Jl. Sulawesi No. 48, Surabaya, East Java, Indonesia PPFX+4F
Regional Restrictions	British Columbia, Quebec, and Saskatchewan in Canada, as well as the Democratic People's Republic of Korea (North Korea), Iran, the United States, and Hong Kong.

　　PT. First State Futures, based in Surabaya, operates multiple branch offices in cities such as Bali, Jember, and Solo. As a licensed member of the futures exchange and with BAPPEBTI endorsement, the company offers trading platforms like JAFeTS NOW and MT4.

　　Here is the home page of this brokers official site:

Pros and Cons

Pros	Cons
Regulated by ICDX	Revoked BAPPEBTI license
Security measures provided	Suspicious clone JFX license
Diverse market instruments	Regional restrictions
Demo accounts	Limited info on trading conditions
MT4 platform	Inactivity fee charged
No fees for deposits and withdrawals	Limited payment options
Multiple contact channels

Is First State Futures Legit?

　　First State Futures is regulated by Indonesia Commodity and Derivatives Exchange (ICDX). It holds Retail Forex License with No. 037/SPKB/ICDX/Dir/VIII/2010. Besides, it also offers security measures including segregated accounts.

	Indonesia Commodity and Derivatives Exchange (ICDX)
Regulatory Status	Regulated
Regulated by	Indonesia
Licensed Institution	First State Futures, PT
Licensed Type	Retail Forex License
Licensed Number	037/SPKB/ICDX/Dir/VIII/2010

　　However, their license of Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) is revoked and Jakarta Futures Exchange (JFX) is suspicious clone.

	Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI)
Regulatory Status	Revoked
Regulated by	Indonesia
Licensed Institution	PT. First State Futures
Licensed Type	Retail Forex License
Licensed Number	18/BAPPEBTI/PN/3/2010

	Jakarta Futures Exchange (JFX)
Regulatory Status	Suspicious Clone
Regulated by	Indonesia
Licensed Institution	First State Futures
Licensed Type	Retail Forex License
Licensed Number	SPAB-058/BBJ/01/04

What Can I Trade on First State Futures?

　　First State Futures offers American single stocks, currencies, metals & energy, stock indices, micro multilateral, and commodities (CPO, Olein, Cocoa, coffee).

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Metals	✔
Energy	✔
American Single Stocks	✔
Stock Indices	✔
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

What Can I Trade on First State Futures?

Account Type

　　First State Futures offers three kinds of accounts: Single Platform Account, Micro Multilateral Account and Multilateral Commodities Account. Also, demo accounts are also available.

Account Type	Products Covered	Lot Size	Exchange Rate/Currency
Single Platform Account	All Bilateral products	From 0.1 lots	Fixed at IDR 14,000
Self Investor - Micro Multilateral Account	World Currencies, Energy, Commodities	From 1 lot (Micro)	Daily USDIDR rate
Self Investor - Multilateral Commodities Account	Gold, CPO, Olein, Cocoa, Coffee	From 1 lot	IDR per purchase

　　To open an account of First State Futures, you need to have a demo account before applying for a live account. Additionally, log in to the cabinet registration page provided. Open your email and click the Activation link on the email that has been sent to verify the email.

First State Futures Fees

Account Type	Transaction Fees
Single Platform Account	From $0.1
Self Investor - Micro Multilateral Account	From $0.25
Self Investor - Multilateral Commodities Account	From IDR 500

　　Besides, it charges an inactivity fee of USD 50 when the client's account has been inactive for 30 (thirty) consecutive days of inactivity.

Trading Platform

　　First State Futures offers JAFeTS NOW and MT4 trading platform.

Trading Platform	Supported	Available Devices	Suitable for
JAFeTS NOW	✔	Electronic-based	/
MT4	✔	Web, desktop, phone	Beginners
MT5	❌	/	Experienced traders

　　JAFeTS NOW Trading Platform:

　　This platform is built on the latest technology to support future technological developments and can be further developed as market needs change. It also supports the simulation of multilateral commodity trading.

　　MetaTrader 4 (MT4) Trading Platform:

　　Based on software from Metaquotes Software Corp, MT4 is a versatile platform that supports all types of devices. The platform provides real-time quotes, charts, market news, and offers full instant execution of trades.

Deposit and Withdrawal

　　In First State Futures, deposits are only made using book transfers to segregated accounts (separate accounts) in the name of PT. It does not charge deposit or withdrawal fees.

　　Withdrawals can only be processed and transferred through the payment method you used to deposit the deposit.