First Shanghai

Karoline Hardy

1-2 years

What documents do I normally need to provide for my initial withdrawal with First Shanghai?

WikiFX Reply

Based on my experience with regulated brokers such as First Shanghai, especially those overseen by authorities like Hong Kong’s Securities and Futures Commission (SFC), the initial withdrawal process typically involves robust identity verification. Although the broker’s publicly available information doesn’t list every specific document required for withdrawal, I know from years in the industry that regulated companies must comply strictly with anti-money laundering (AML) and know-your-customer (KYC) standards. Whenever I set up my accounts at similar SFC-regulated institutions, I was required to submit government-issued photo identification, such as a passport or Hong Kong ID card, and recent proof of address, for example a bank statement or utility bill dated within the last three months. These documents confirm both my identity and address, helping reduce the risk of fraud or unauthorized transactions. Additionally, brokers sometimes request bank account details that match the name on the trading account for payout purposes. I’m always careful to have these documents ready and to verify directly with customer support before attempting my first withdrawal. This extra step ensures I don’t encounter unexpected delays and that my funds’ security is maintained, as required under SFC regulation. For me, clear compliance with these standards is a sign of a broker’s legitimacy and commitment to client safety.

Broker Issues

First Shanghai

Withdrawal

Deposit

09-02

United States

zack18

1-2 years

Could you give a comprehensive overview of the fees charged by First Shanghai, covering commissions, spreads, and any other related costs?

WikiFX Reply

As someone who prioritizes clarity and transparency in all aspects of my trading, the available information on First Shanghai's fee structure has proven rather limited and leaves important details unclear. Based on what I was able to confirm, First Shanghai is a well-established broker regulated by the Hong Kong Securities and Futures Commission, which gives me some assurance regarding standards of market conduct and the legitimacy of their operations. However, when I look for specifics on trading costs—such as commissions, spreads, or other associated fees—I find that this information is not disclosed publicly or in much detail. From my perspective, this lack of clarity is important to highlight, particularly because trading costs directly affect profitability and risk management. While First Shanghai offers access to a broad range of financial instruments including Hong Kong and overseas stocks, futures, commodities, and margin services, I was unable to find any published data on their website or through official sources outlining their commission rates, the typical spreads traders might encounter, or any additional maintenance or custodial fees. There is also no mention of account minimums or demo accounts for testing the fee structure before engaging real capital. Given such a conservative and cautious approach is best, I would recommend that prospective clients directly contact First Shanghai to request a full breakdown of all trading and account-related fees before making any funding decisions. In my experience, transparent and upfront disclosure of fees is crucial for fostering trust, and its absence is a point to consider carefully if cost predictability and planning are priorities for you.

Broker Issues

First Shanghai

Fees and Spreads

08-19

United States

RichN

1-2 years

How do the different account types provided by First Shanghai compare to one another?

WikiFX Reply

Based on my experience and research, First Shanghai does not publicly list distinct forex account types in the way many international brokers do. Unlike some platforms that clearly separate accounts by features such as minimum deposit, spreads, or leverage, First Shanghai appears to focus primarily on broad financial services—particularly Hong Kong and international stocks, futures, commodities, and related investments. I was unable to find detailed segmentation like standard, ECN, or demo accounts. From a cautious perspective, this lack of transparency makes it difficult to directly compare specific account offerings for trading forex or CFDs specifically. The available information instead emphasizes a comprehensive service suite, including margin financing, custodian functions, IPO subscriptions, and nominee services, under a regulated environment overseen by Hong Kong’s Securities and Futures Commission. While this regulatory oversight gives some reassurance regarding client protection, the absence of clear account types and detailed conditions (such as minimum deposits or fee structures) means I could not make the granular comparisons I can with other brokers I have evaluated. As someone who values detailed, upfront information when choosing where to place funds, I would recommend reaching out to First Shanghai directly for a full breakdown of account features before making any decisions. For me, understanding exactly what each account entails is essential before committing significant capital.

Broker Issues

First Shanghai

Account

Leverage

Instruments

Platform

08-13

United States

Tomas

1-2 years

Can I trust First Shanghai as a reliable and secure broker for trading?

WikiFX Reply

Drawing from my personal experience as a forex trader who takes regulatory oversight and business transparency seriously, I approach brokers with a focus on safety, track record, and regulatory status. First Shanghai stands out to me primarily because it is regulated by Hong Kong’s Securities and Futures Commission (SFC), under license AGK583 for dealing in futures contracts. The SFC is regarded as a strict and reputable regulator in Asia. In my view, this level of regulation provides essential legal safeguards and oversight, helping reduce the likelihood of malpractice. It’s also notable that First Shanghai has been established since 1964 and is listed on the Hong Kong Exchange, which means publicly accessible financials—another indicator of accountability. Their offerings cover a wide range including stocks, futures, commodities, IPO subscriptions, and margin financing, which speaks to an established presence in the Asian markets. That said, I do take a conservative stance in considering any broker, even one with a long track record. Transparency on trading platforms, costs, leverage, or spreads is limited with First Shanghai, which for me means there are important details to clarify before funding a live account. For anyone prioritizing regulatory compliance and the assurance that comes with a long-operating, listed company, First Shanghai does meet several key criteria for trustworthiness. Yet, I would still recommend directly confirming fee structures and available trading tools to ensure they match your trading needs and risk tolerance. Personally, I prefer never to overlook these due diligence steps, regardless of a broker’s reputation.

Broker Issues

First Shanghai

Regulation

07-10

United States