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First Futures

China|5-10 years|
Regulated in China|Futures License|Suspicious Scope of Business|

http://www.ydqh.com.cn/en/

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China 3.27

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ydjt@ydqh.com.cn
http://www.ydqh.com.cn/en/
天津市和平区小白楼街解放北路188号信达广场16层

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First Futures · Company Summary

Attribute Details
Company Name First Futures
Registered in Tianjin, China
Regulated Regulated by CFFEX
Years of Establishment Since 1995
Trading Instruments Futures, Options, CFDs
Account Types Standard, VIP, Corporate
Minimum Initial Deposit RMB 50,000 (Standard), RMB 100,000 (VIP)
Maximum Leverage 1:100 for futures, 1:5 for options
Minimum Spread 1-2 pips for major currencies, 5-10 for oil
Trading Platform Multiple platforms, including First Futures Trader
Deposit and Withdrawal Method Various currencies; 2-day withdrawal process
Customer Service 24/7 via phone, email, live chat

Overview of First Futures

First Futures is a reputable futures brokerage firm registered in Tianjin, China, and regulated by the China Financial Futures Exchange (CFFEX) as well as other financial regulatory authorities. Established in 1995, the firm offers a diverse portfolio of trading instruments including futures, options, and CFDs. Catering to a wide range of clients, it provides three types of accounts: Standard, VIP, and Corporate, with a minimum initial deposit ranging from RMB 50,000 for a Standard Account to RMB 100,000 for a VIP Account.

The company extends maximum leverage up to 1:100 for futures and 1:5 for options, and its trading platforms come with minimum spreads as low as 1-2 pips for major currency pairs. Multiple deposit and withdrawal options are available, and customer service is accessible 24/7 through various channels including phone, email, and in-person consultations.

Overview of First Futures

Is First Futures legit or a scam?

The China Financial Futures Exchange (CFFEX) is an important institution within the Chinese financial market landscape. Legally established in Shanghai on September 8, 2006, CFFEX is the only financial futures exchange in China.

The legitimacy of First Futures is maintained by the regulation of CFFEX and various other laws and regulatory frameworks. Before a futures brokerage firm such as First Futures can offer its services to customers, it must obtain a Futures License. This is a critical regulatory approval issued by financial regulatory authorities, and it ensures that the firm has met all of the necessary qualifications, financial requirements, risk management systems, and operational capacities to conduct futures business.

regulation

Pros and Cons

Pros Cons
Regulated by CFFEX Less user-friendly platform
Over 20 years in business High minimum deposit
Diverse trading products Limited global availability
Competitive fee structure

Pros:

  • Regulatory Compliance: Being under the purview of the CFFEX adds a layer of credibility and safety to First Futures.

  • Track Record: With more than 20 years in business, First Futures has established a strong reputation.

  • Product Portfolio: The brokerage offers a diverse array of trading products including futures, options, and CFDs.

  • Competitive Fees: Fee structures are built to be competitive, adding value for clients.

Cons:

  • Platform Usability: The in-house trading platform could be less user-friendly compared to more established platforms.

  • Minimum Deposit: The entry point is relatively high, which may deter small investors.

  • Geographic Limitations: The service isn't available globally.

Market Instruments

First Futures provides a broad range of market instruments tailored to different investor needs. This includes futures contracts tied to commodities, currencies, and indices. Additionally, the company offers options on these futures contracts and even CFDs, which are generally more complex financial instruments.

Account Types

The firm caters to a variety of clients through its three primary account types:

  • Standard Account: Ideal for individuals, it offers the most basic set of features with the lowest fee structure.

  • VIP Account: This premium account provides enhanced features like margin funding and specialized trading tools, along with reduced fees.

  • Corporate Account: Aimed at business clients, this account comes with a dedicated account manager and customized services.

How to Open an Account?

To open an account as an overseas customer, you may choose to do it yourself directly or authorize other institutions to do it on your behalf. Here are the steps for each method:

Method 1: Open an account by yourself directly

  1. Apply for an account opening to the futures company, and submit the required account opening materials.

  2. The futures company will review the submitted materials for account opening and suitability. Afterwards, they will submit an account opening application through the CFMMC Unified Account Opening system.

  3. CFMMC will undertake the review process of the application and the provided documents.

  4. The exchange will then review all materials. If everything is in order, they will assign the trading codes.

Method 2: Authorize other institutions to open an account

  1. Apply for opening an account to a foreign brokerage of your choice, and submit the required account opening materials.

  2. The chosen foreign brokerage will review your materials for account opening and suitability. They will then submit an account opening application through the CFMMC Unified Account Opening system on your behalf.

  3. CFMMC will review your application materials.

  4. If everything checks out, the entrusted futures company will agree to open the account for you.

  5. Finally, the exchange will review all provided materials and if they are satisfactory, trading codes will be assigned.

Open an Account

Leverage

First Futures offers a distinct range of leverage ratios based on the financial product being traded. For futures contracts, the firm extends leverage up to 1:100. This means that for every 1 of their own capital, investors can obtain exposure to 100 worth of a futures contract. The utilization of such high leverage enables investors to potentially amplify their investment returns.

However, one must always bear in mind that although high leverage can lead to potentially larger profits if the market moves in their favor, it also exposes the investor to greater risk and potential losses if the market moves against their position. Simply put, just as profits are magnified, losses are also amplified, potentially up to the full amount of the invested capital, or in some extreme cases, even more. This risk is particularly acute in the volatile futures markets, where price changes can be sudden and significant.

In the case of options contracts, First Futures offers a leverage ratio limited to 1:5. While this is lower compared to futures contracts, the unique characteristics of options contracts and their inherently high-risk nature necessitate a more conservative leverage ratio. Options can often involve a high level of risk and complexity, and the employment of leverage can potentially magnify these factors. This risk is mitigated by the lower leverage ratio, which ensures investors cannot lose more than their initial investment.

Spreads & Commissions

First Futures' fee structure is flexible, contingent on the account type and financial instrument being traded. Spreads for major currency pairs float around 1-2 pips, while those for commodities like crude oil futures can range from 5-10 points. Commissions for futures contracts usually hover around $1 per contract, and for options contracts, its approximately $0.50 per contract.

Trading Platform

First Futures has a wide-ranging arsenal of trading software and platforms catering to various needs and preferences of its clients. They are equipped with multiple market scanning platforms like PoBo and MyTrader, tools integral for monitoring the markets efficiently and identifying potential trading opportunities instantaneously.

Alongside these, they offer comprehensive trading platforms such as Midas, Q7, Yijiantong, Shandianshou, and Shandianwang. These trading platforms offer an array of features to facilitate seamless and efficient trading, including real-time market data, advanced charting tools, risk management features, automated trading capabilities, and much more.

Recognizing the necessity to stay connected to the markets on-the-go, First Futures also provides mobile software for market scanning and trading. This includes applications like Wenhuasuishenxing, Mobile Wealth, and Customized APP.

Lastly, also catering to program traders who utilize algorithmic and automated trading strategies, First Futures offers platforms such as MultiCharts, TradeBlazer, Weistock, and Wenhua Wh8.

Deposit & Withdrawal

Deposits can be made in various currencies, including RMB, USD, and EUR. The minimum deposit required is RMB 50,000 for the Standard Account and RMB 100,000 for the VIP Account. Withdrawal requests are usually processed within two working days.

Customer Support

The customer support of First Futures is easily accessible. Their office is located at Centre Plaza, on the 16th Floor, No. 188 Jiefangbei Road, in the Heping District of Tianjin, where customers can possibly arrange for in-person assistance or consultations. For telephonic assistance or inquiries, they can be reached at 022-58298788.

Furthermore, for those who prefer written communication or need to submit specific queries or documents, First Futures provides the option to communicate through fax at 022-58298759 as well as via email at ydqh@ydqh.com.cn.

Customer Support

Educational Resources

First Futures provides an extensive suite of educational resources tailored for investor knowledge enhancement and improving their trading strategies. To elevate the trading aptitude of investors, they offer an independently developed account diagnosis system which provides comprehensive analysis of investors' trading behavior using various indicators and dimensions.

The analysis is predicated on a range of investor data, including daily deals, profit and loss, and equity changes, aiming to render valuable insights for investors on their investment performances and propelling them towards fructifying their trading strategies. The company also offer personalized research data, comprising risk management consultations and specialized training formulated by a professional R&D team.

Additionally, First Futures extends delivery knowledge, customer risk control, and position setting training specifically for institutional clients, while also offering customized strategies pertaining to business operation and hedging.

Educational Resources

Conclusion

First Futures emerges as a regulated futures brokerage firm with over two decades of experience in the financial markets. Although it does have a few limitations—such as a higher minimum deposit requirement and a trading platform that may not be as user-friendly as some alternatives—the firm compensates for these with a diverse range of market instruments, competitive fees, robust customer support, and an extensive suite of educational resources. These attributes, along with its regulatory compliance and strong track record, make First Futures a compelling choice for both individual and institutional investors seeking a comprehensive trading solution.

FAQs

  1. Q: What regulatory frameworks govern First Futures' brokerage activities?

    A: First Futures operates under the stringent regulations of the China Financial Futures Exchange (CFFEX) and adheres to compliance requirements set forth by other key financial marketplaces including DCE, SHFE, and ZCE.

  2. Q: Can you elaborate on the risk management measures in place for varying account types?

    A: Each account type—Standard, VIP, and Corporate—features tailored risk management protocols, including margin requirements and stop-loss settings, to align with the investment profile and needs of the client.

  3. Q: What are the specifics of the fee structure for trading futures and options contracts?

    A: The brokerage fee for futures contracts is typically around $1 per contract, and for options contracts, the fee is approximately $0.50 per contract, though these fees can vary based on account type.

  4. Q: What types of algorithmic and automated trading solutions does First Futures provide?

    A: First Futures supports a suite of platforms specifically designed for algorithmic and automated trading, including MultiCharts, TradeBlazer, Weistock, and Wenhua Wh8.

  5. Q: What is the maximum leverage ratio offered for trading futures and options, and how does it differ across market instruments?

    A: Leverage ratios extend up to 1:100 for futures contracts and are limited to 1:5 for options contracts, reflecting the different risk profiles of these financial instruments.

  6. Q: How does First Futures ensure expedited and secure processing of withdrawal requests?

    A: Withdrawal requests are processed within a two-business-day window and are conducted through secure, audited financial channels to ensure client funds' safety.

Broker Information

Company Name

一德期货有限公司

Company Abbreviation

First Futures

Regulatory Status

Regulated

Platform registered country and region

China

Company website
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  • 天津市和平区小白楼街解放北路188号信达广场16层

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Customer Service Email Address
  • ydjt@ydqh.com.cn

  • ydqh@ydqh.com.cn

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