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Having traded for years and explored various brokers, I approach new platforms with careful due diligence, and First Shanghai is no exception. While its regulation by Hong Kong’s Securities and Futures Commission (SFC) and its long operational history contribute positively to its credibility, there are specific risks and limitations I noticed. One considerable drawback, in my experience, is the limited transparency around trading costs. I found very little publicly available information about spreads, commissions, minimum deposits, or trading platform details. This lack of clarity makes it difficult for me to accurately estimate trading expenses and compare First Shanghai to other brokers where fee structures are laid out more clearly. For me, this lack of info is concerning because hidden or unexpected costs can erode profits over time. Additionally, the absence of a demo account stands out as a significant limitation. As someone who values practice environments for testing strategies risk-free, I find it challenging to assess the platform’s trading conditions firsthand before committing real capital. Without this, I have to be extra cautious—there is no way for me to evaluate execution speeds or potential slippage issues without risk. Lastly, the broker’s primary focus seems to be on futures, Hong Kong and Chinese equities, and related products rather than classic spot forex trading. That means if I were looking for a wide array of forex pairs and robust international FX options, I might find their offering somewhat limited. In summary, while regulation and history are reassuring, I always remain cautious due to First Shanghai’s lack of cost transparency and demo functionality—key factors that impact both my trading strategy and my long-term account security.