BY — United Kingdom
PT. First State Futures
Licence
FIRST STATE FUTURES Review — Overview
Regulation
Offshore regulated
Licence
BY • ICDX
Licence status
Regulated
Platforms
JAFeTS NOW and MT4 trading platform
Instruments
American single stocks, currencies, metals & energy, stock indices
Typical spread
/
Operating
Est. 2022
Main market
ID
Entity
PT. First State Futures
Website
Unknown
FIRST STATE FUTURES is a forex & CFD broker based in Indonesia, established in 2022. On Trust Broker Hub it holds a Trust Score of 4.7 out of 10, which we rate as Fair — below the 5.3/10 average for brokers that hold a verified licence. Mixed profile — check regulation and conditions before depositing.
FIRST STATE FUTURES's licence comes from an offshore jurisdiction (BY and ICDX). Offshore regulation is far lighter than tier-1 oversight from bodies like the FCA (UK) or ASIC (Australia): there is usually no compensation scheme, and recovering funds can be difficult if the broker runs into trouble. Treat it with extra caution and verify the licence on the regulator's own register.
FIRST STATE FUTURES provides access to American single stocks, currencies, metals & energy, stock indices. Its detailed trading conditions — minimum deposit, spreads and maximum leverage — are not publicly disclosed, which lowers transparency. No complaints are currently on record. Overall, FIRST STATE FUTURES has a mixed profile: check its regulation and conditions carefully before depositing.
Trust score breakdown
How is this calculated?
Weighted total
5.87
Data completeness
6 of 10 facts verified
60% ×0.80
Trust Score
4.7 / 10
Trust Score history
FIRST STATE FUTURES currently scores 4.7/10. The trend line will build here as the Trust Score is re-evaluated over time.
Pros
- Holds a BY licence
- No unresolved complaints on record
- Listed in our verified broker directory
Cons
- Offshore-only regulation with weaker investor protection
- Trading conditions and fees not publicly disclosed
- Always verify the licence directly before depositing
Regulation
Tier 3 · Offshore
Verified
ICDX — Indonesia
PT. First State Futures
Licence
Tier 3 · Offshore
Verified
Offshore (tier-3) regulators typically have lower capital requirements and no compensation scheme. Funds may not be protected if the broker fails.
Trading conditions
| Instruments | American single stocks, currencies, metals & energy, stock indices, micro multilateral, commodities (CPO, Olein, Cocoa, coffee) |
| Minimum deposit | Not disclosed |
| Maximum leverage | Not disclosed |
| Typical spread | / |
| Platforms | JAFeTS NOW and MT4 trading platform |
| Demo account | ✅ |
We mark unverified fields as “Not disclosed” rather than estimate them.
Our verdict on FIRST STATE FUTURES
Our analysis · editorial
4.7/10
A mixed risk profile
FIRST STATE FUTURES is regulated in an offshore jurisdiction (BY, ICDX), which offers lighter oversight than tier-1 regimes. Based in Indonesia, it has been operating for about 4 years. We have no complaints on record against it. Weighing regulation, track record and complaint history, our Trust Score is 4.7/10 — a mixed profile.
Strengths
- Holds 2 regulatory licences across multiple jurisdictions
- No complaints on record with us
- Supports JAFeTS NOW and MT4 trading platform trading
Watch-outs
- Regulated only in an offshore jurisdiction — weaker investor protection
Bottom line: Proceed with caution: start with a small deposit and test a withdrawal early.
This is Trust Broker Hub's data-driven editorial assessment — not a user review. It is generated automatically from regulation, licensing, company age and complaint records, and updates as those change.
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FIRST STATE FUTURES — Questions & Answers
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Complaints & alerts
No complaints or regulator warnings on record
We monitor regulator alert lists and user reports. We'll flag FIRST STATE FUTURES here if that changes.
Full specifications
Regulated region
Indonesia
Operating period
2-5 years
Main market
ID
License status
Regulated
Instruments
American single stocks, currencies, metals & energy, stock indices, micro multilateral, commodities (CPO, Olein, Cocoa, coffee)
Year founded
2022
Frequently asked
Is FIRST STATE FUTURES a safe broker?
FIRST STATE FUTURES scores 4.7 / 10 on our Trust Score, below the 5.3 average for brokers that hold a verified licence. It is only offshore-regulated, which means weaker protection. It has no complaints on record with us, though that is not proof of good conduct. Trade only with funds you can afford to lose.
How is the FIRST STATE FUTURES trust score calculated?
The score weighs five factors: regulation tier, transparency of disclosures, operating footprint, user sentiment, and complaint history. Each is scored out of 10 and combined into the overall figure shown at the top. Read our methodology.
What does "offshore regulated" mean?
It means the broker's licence comes from a jurisdiction with lighter requirements than tier-1 regulators like the FCA or ASIC. There's usually no compensation scheme, so recovering funds can be difficult if the broker fails.
Can I withdraw funds easily from FIRST STATE FUTURES?
FIRST STATE FUTURES doesn't publish detailed withdrawal terms, so we can't verify processing times or fees. Test with a small amount first and document every transaction.