First Shanghai Review 2025: Trusted Hong Kong Expert

Overview

First Shanghai Investments Limited stands as a veteran financial institution in Hong Kong's brokerage landscape, established in 1964 and achieving public listing status on the Hong Kong Stock Exchange in 1972 (HKEX: 0227). With over 60 years of operational history and 52+ years as a publicly traded company, this traditional full-service broker has evolved from a local securities dealer into a comprehensive financial services group serving Greater China markets and select international clients.

Overview Table

Feature	Details
Company Name	First Shanghai Investments Limited
Founded	1964
Listed Since	1972 (HKEX: 0227) - Adopted current name in 1993
Headquarters	19/F Wing On House, 71 Des Voeux Road Central, Hong Kong
Regulation	Securities and Futures Commission (SFC) - Multiple licenses
Key Services	Securities Trading, Futures Trading, Asset Management, Corporate Finance
Trading Platform	First Shanghai Trade (第一上海通)
Target Markets	Hong Kong, Mainland China, Taiwan, Select International
Minimum Deposit	Not publicly disclosed
Demo Account	Not available
Website	www.firstshanghai.com.hk

Facts List

1. Established Heritage: Founded in 1964 with continuous operations for 60+ years, making it one of Hong Kong's longest-serving financial institutions
2. Public Company Since 1972: Listed on HKEX for over 52 years, providing transparency through regular financial disclosures and corporate governance
3. Multiple SFC Licenses: Operates through specialized subsidiaries holding licenses for securities dealing, futures trading, asset management, and corporate finance
4. Greater China Focus: Deep access to Hong Kong stocks and China A-shares via Stock Connect programs
5. Full-Service Model: Comprehensive offerings including IPO subscriptions, margin financing, custodian services, and investment research
6. Physical Infrastructure: Maintains offices in Central Hong Kong for face-to-face services alongside digital platforms
7. HKD-Only Deposits: Accepts deposits exclusively in Hong Kong dollars, with withdrawals available in HKD or USD
8. No Demo Accounts: Lacks platform testing options before funding, requiring commitment from new clients
9. Traditional Technology: Platforms emphasize stability over modern features found in MT4/MT5 or TradingView
10. Opaque Fee Structure: Commission rates and fees require individual inquiry rather than published schedules

First Shanghai Licenses and Regulatory

First Shanghai's regulatory framework demonstrates robust compliance through multiple specialized SFC licenses. Each subsidiary operates under specific regulatory oversight:

First Shanghai Securities Limited (SFC CE: ABV488) holds licenses for Type 1 (Dealing in Securities), Type 4 (Advising on Securities), and Type 6 (Advising on Corporate Finance), enabling comprehensive securities services and advisory capabilities.

First Shanghai Investment Management (HK) Limited (SFC CE: BEQ584) maintains Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses, allowing professional portfolio management services.

First Shanghai Futures Limited (SFC CE: AGK583) operates under Type 2 license (Dealing in Futures Contracts) since February 24, 2005, demonstrating nearly two decades of consistent regulatory compliance.

First Shanghai Capital Limited provides investment banking services through appropriate SFC licensing for corporate finance advisory and securities dealing.

Beyond individual licenses, First Shanghai's status as a publicly-listed company adds another regulatory layer through HKEX listing rules, mandatory financial reporting, and corporate governance standards protecting minority shareholders.

Trading Instruments

First Shanghai offers comprehensive access to Asian markets with selective international coverage:

Asset Categories Table

Asset Class	Coverage	Details
Equities	Extensive	HKEX stocks, China A-shares via Stock Connect, US markets (NYSE/NASDAQ), selective international
Futures	Comprehensive	Index futures (Hang Seng, S&P 500), commodities, currencies, interest rates
Options	Available	Stock options on HKEX-listed securities
Fixed Income	Limited	Government securities, corporate bonds (details upon inquiry)
IPO Services	Strong	HKEX IPO subscriptions with margin financing enhancement
Structured Products	Available	Case-by-case basis

Trading Platforms

First Shanghai's technology infrastructure prioritizes stability and functionality over innovation. The primary platform "First Shanghai Trade" (第一上海通) provides essential trading capabilities through mobile applications and web-based terminals.

Trading Platform Comparison Table

Feature	Mobile App	Web Platform	Desktop Terminal
Real-Time Quotes	Yes	Yes	Yes
Order Types	Basic	Standard	Advanced
Technical Indicators	Limited	Standard	Comprehensive
Charting Tools	Basic	Standard	Advanced
News Feed	Yes	Yes	Yes
Research Integration	Yes	Yes	Yes
Multi-Screen	No	Limited	Yes
Automated Trading	No	No	Limited
Languages	Chinese/English	Chinese/English	Chinese/English
Demo Mode	No	No	No

First Shanghai How to Open an Account: A Step-by-Step Guide

Step 1: Online Application Visit First Shanghai's website and complete the initial application form with personal information, employment details, and investment experience.

Step 2: Document Preparation Gather required documents:

• Hong Kong ID or valid passport
• Proof of address (within 3 months)
• Bank account verification
• Income proof (for margin accounts)

Step 3: Verification Methods Choose from three options:

• In-Person: Visit Hong Kong headquarters for same-day processing
• Professional Witness: Have documents certified by lawyers/CPAs
• Cheque Deposit: Submit HKD 10,000+ personal cheque for remote verification

Step 4: Account Activation Processing takes 1-3 business days after verification. Credentials delivered via registered mail or secure email.

Step 5: Initial Funding Deposit funds using accepted methods (HKD only):

• Faster Payment System (FPS)
• Bank wire transfer
• Physical cheque deposit

Charts and Analysis

First Shanghai's analytical tools and educational resources reflect its full-service broker positioning, emphasising professional research over self-directed learning platforms. The firm's approach prioritises actionable market intelligence delivered by experienced analysts rather than extensive educational libraries.

Category	Details
Research Capabilities	- Daily market commentaries on Hong Kong & mainland China markets (Hang Seng Index, Stock Connect) - Sector reports on industry trends & regulatory changes- Individual stock reports with financial modeling & valuations- Weekly strategy notes with tactical asset allocation recommendations
Technical Analysis Tools	- Standard charting (timeframes: 1-min to monthly)- Indicators: Moving Averages, Bollinger Bands, RSI, Stochastic, MACD, volume analysis- Drawing tools: trendlines, Fibonacci retracements, pattern recognition- Limitations: No custom indicator programming, backtesting, or advanced multi-timeframe analysis
Market Data & News	- Real-time data across all tradable exchanges with minimal latency- Aggregated news feeds from major financial media- Strong emphasis on Chinese-language sources- Instant company announcements & regulatory filings upon release
Educational Resources	- Bilingual (Chinese/English) market glossaries- Basic trading guides (order types, platform navigation)- Compliance resources for margin trading & short selling- Occasional seminars with guest speakers & market outlooks- Focus: Designed for experienced investors, not beginners

First Shanghai Account Types

First Shanghai offers traditional account structures without marketing-driven tiers:

Cash Account: Standard trading without leverage, full payment required before settlement, suitable for conservative investors

Margin Account: Leveraged trading capabilities, securities lending for short selling, enhanced IPO subscription power

Institutional Account: Customized structures, multiple authorized traders, segregated sub-accounts, dedicated relationship management

Account Types Detailed Comparison Table

Feature	Cash Account	Margin Account	Institutional
Minimum Deposit	Not disclosed	Higher requirement	Negotiable
Leverage	None	Up to regulatory limits	Customizable
Short Selling	No	Yes	Yes
Interest Charges	None	On borrowed amounts	Negotiated
Maintenance Requirements	None	Regular monitoring	Enhanced compliance
Risk Level	Low	High	Variable
IPO Enhancement	No	Yes	Yes
Dedicated Support	Standard	Priority	Premium

Negative Balance Protection

First Shanghai does not offer negative balance protection, maintaining standard industry practices where clients bear full responsibility for trading losses exceeding account equity. This absence particularly impacts:

• Leveraged futures traders facing overnight gaps
• Margin account holders during market crashes
• Short sellers with unlimited loss potential
• IPO financing participants if listings trade below offer prices

Clients remain legally obligated to cover any negative balances resulting from forced liquidations or adverse market movements.

First Shanghai Deposits and Withdrawals

First Shanghai's funding processes reflect traditional Hong Kong banking practices with notable restrictions: Critical Limitation: Deposits accepted in HKD only, despite withdrawals available in HKD or USD

Payment Methods Comparison Table

Method	Deposit	Withdrawal	Processing Time	Fees
FPS	✓ (HKD only)	✓	Instant-Same day	Not disclosed
Bank Wire	✓ (HKD only)	✓	1-3 days	Bank charges
Cheque	✓ (HKD only)	✓	2-5 days	None
E-wallets	✗	✗	N/A	N/A
Credit Card	✗	✗	N/A	N/A

Support Service for Customer

First Shanghai maintains traditional support channels emphasizing personal relationships:

Customer Support Availability Table

Channel	Availability	Response Time	Languages
Phone	Business Hours (9am-6pm HKT)	Immediate	Cantonese/Mandarin/English
Email	24/7 submission	1 business day	Chinese/English
In-Person	Business Hours	By appointment	Cantonese/Mandarin/English
Live Chat	Not Available	N/A	N/A
Social Media	Not Available	N/A	N/A
FAQ Section	Limited online	N/A	Chinese/English

Prohibited Countries

First Shanghai maintains selective international acceptance:

Preferred Markets: Hong Kong, Mainland China, Taiwan, Macau

Accepted Conditionally: Singapore, Malaysia, Australia, Canada, select Asian countries

Generally Restricted: United States (FATCA), European Union (MiFID II), OFAC-sanctioned countries, FATF grey/blacklist jurisdictions

Special Offers for Customers

First Shanghai rarely offers promotional incentives, reflecting their focus on sophisticated investors:

1. IPO Financing: Preferential margin rates during active IPO seasons
2. Commission Rebates: Temporary rebates for institutional transfers (rare)
3. Research Access: Complimentary premium research trials
4. Relationship Benefits: Priority allocations, waived fees for long-standing clients
5. Absent: No deposit bonuses, free trades, or referral rewards

Conclusion

First Shanghai Investments Limited represents a legitimate, well-established financial institution firmly rooted in traditional brokerage practices. Their 60-year operational history and 52+ years as a public company demonstrate remarkable stability. However, this traditional approach creates clear limitations in today's digital-first marketplace.

The firm excels in serving sophisticated Hong Kong-based investors seeking Greater China market access with personal service. Multiple SFC licenses and public company oversight provide robust regulatory protection. Professional research capabilities and investment banking integration create genuine value for their target demographic.

Yet significant drawbacks cannot be ignored. The HKD-only deposit restriction, absence of demo accounts, opaque fee structure, and dated technology severely limit appeal to international clients and modern traders. The lack of negative balance protection poses substantial risks for leveraged trading.

First Shanghai suits experienced investors prioritizing relationships, expertise, and China market access over convenience and cost. Those seeking transparent pricing, modern platforms, or beginner-friendly services should look elsewhere.

Make a smart decision after reading more about brokers.

Looking for a broker with a longer history? BOCOM might be the one.

 

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About the Author

Arash Doostelahi

Arash Doostelahi is a dynamic content writer and online course creator based in Tehran, Iran, with expertise in content strategy, instructional design, and digital storytelling. Leveraging a blend of creativity and technical skills, Arash delivers...

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