First State Futures

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

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).

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.

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

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.

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.