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Drawing on my experience as an independent forex trader, I’ve learned to place considerable weight on regulatory status and market access when choosing a broker. In my evaluation of First Shanghai, several key points have stood out to me. The most important advantage is the broker’s regulation by Hong Kong’s Securities and Futures Commission (SFC)—this offers a strong degree of oversight and investor protection, which is critical in today’s environment. In addition, First Shanghai’s long operational history—dating back to 1964—suggests stability and a certain level of credibility that newer brokers may lack. For me, the ability to access Hong Kong, Shenzhen, and Shanghai stocks, alongside futures, commodities, and overseas markets, is attractive because it allows for meaningful diversification from a single account. However, there are clear drawbacks that require caution. First Shanghai does not provide transparent information about trading fees, minimum deposits, or spreads. In my experience, such opacity limits my ability to accurately gauge trading costs or compare them with other brokers, leaving potential surprises down the line. The absence of a demo account is another major disadvantage; without this, I can’t properly test their platform or execution before risking real capital, which I consider a basic expectation in the industry. Also, while the firm offers a range of market instruments, the lack of listed details about trading platforms or leverage options creates lingering uncertainty over their suitability for modern, active strategies. Ultimately, First Shanghai’s strengths lie in regulation, market access, and long-term operation, but the lack of transparency and limited trader-oriented features make me cautious. I would recommend conducting careful due diligence and directly contacting their support to clarify any points before making a commitment.