Last updated: 20 August 2026
HFM Regulation & Legal Status
This page explains HFM (HF Markets) regulation in plain terms: which company you actually open an account with as an Indonesian client, which regulator oversees it, the group's other licences, and what the offshore status means for your money. It's an independent guide, not the official HFM.
Bottom line: Indonesian clients are served by HF Markets (Seychelles) Ltd under an FSA Seychelles licence — an offshore regulator. HFM is not registered with Bappebti or supervised by OJK in Indonesia. That doesn't make it a scam, but it is a real risk factor to understand before depositing.
In short: the Indonesian entity is HF Markets (Seychelles) Ltd (reg. 8419176-1), overseen by the FSA Seychelles (offshore) — not Bappebti-registered and not OJK-supervised. The HFM group also holds FCA (UK) and FSCA (South Africa) licences for other regions. The entities, what offshore means, and the impact on your funds are below.
HFM regulation at a glance
- Operator (ID clients)
- HF Markets (Seychelles) Ltd
- Jurisdiction
- Seychelles (alamat: Orion Complex, Victoria, Mahe)
- Registration
- 8419176-1 (Seychelles)
- Licence
- FSA Seychelles (entitas /sv/ untuk klien internasional) — offshore, bukan tier-1
- Bappebti
- Tidak terdaftar
- OJK
- Tidak diawasi
HFM group entities & regulators
The HF Markets brand operates through several licensed companies. The one that matters for your account is the entity you register under:
| Entity | Regulator | Serves |
|---|---|---|
| HF Markets (Seychelles) Ltd | FSA Seychelles (reg. 8419176-1) | International incl. Indonesia (/sv/) |
| HF Markets (UK) Ltd | FCA (ref 801701, reg 11118651) | UK clients |
| HF Markets SA (PTY) Ltd | FSCA South Africa | South Africa clients |
| HF Markets Fintech Services Ltd | Cyprus (payments) | Payment processing |
What does "FSA Seychelles" mean?
The Financial Services Authority (FSA) of Seychelles is an offshore regulator. Offshore licences generally have lighter capital and reporting requirements than tier-1 regulators such as the UK's FCA or Australia's ASIC. It provides a licensing framework, but the level of client protection and compensation is typically lower than tier-1. HFM does hold stricter licences in other regions (FCA, FSCA), but those entities usually don't serve Indonesian retail clients.
Bappebti & OJK: what it means for Indonesia
In Indonesia, locally-licensed forex brokers are regulated by Bappebti (and related bodies). HFM's offshore entity is not on the Bappebti register and is not supervised by OJK, so your funds are not covered by Indonesian regulation or a local compensation scheme. This is also one reason offshore broker domains are sometimes blocked by "Internet Positif". Trading with an offshore broker is legal to attempt, but the protection and recourse differ from a locally-licensed one — weigh that carefully.
Offshore vs a local Bappebti broker
A Bappebti-licensed broker follows Indonesian rules: client funds in segregated local banks, a domestic complaints mechanism, and Bappebti/OJK oversight. An offshore broker like this HFM entity doesn't provide that local protection; in a dispute, recourse goes through a foreign regulator (FSA Seychelles) that is harder to reach from Indonesia. In exchange, offshore brokers often offer higher leverage and lower minimum deposits. Weigh the features/convenience against the level of protection.
How to verify HFM's regulation yourself
- Open the Legal Documentation on the official HFM site (hfm.com) to see the entity and registration number.
- Check "HF Markets (Seychelles) Ltd" and number 8419176-1 on the FSA Seychelles register (fsaseychelles.sc).
- For the FCA claim, search the FCA Financial Services Register (register.fca.org.uk) with ref 801701.
- Make sure you're on an official HFM domain before trusting any regulatory claim shown on a page.
Your funds & protection
- No Bappebti/OJK oversight or local compensation scheme for this entity.
- HFM advertises segregated client funds and negative balance protection on its side* — verify current terms on hfm.com.
- Withdrawals return to an account in your own name only (third-party transactions are prohibited).
- Only log in and transact on official HFM domains; beware fake sites impersonating HFM.
⚠️ Risk warning: forex/CFD trading with leverage is high risk and most retail accounts lose money. This offshore entity is not Bappebti-registered. This is not financial advice.
HFM regulation FAQ
Who regulates HFM?
For Indonesian clients, HF Markets (Seychelles) Ltd is licensed by the FSA Seychelles (offshore). The group also holds FCA (UK) and FSCA (South Africa) licences for other regions.
Is HFM registered with Bappebti?
No. HFM's offshore entity is not registered with Bappebti or supervised by OJK, so it is not under Indonesian regulatory protection.
Is HFM legal in Indonesia?
HFM operates offshore and is not locally licensed. You can attempt to trade, but funds aren't protected by Indonesian regulation — trade at your own risk with money you can afford to lose.
Does HFM have an FCA licence?
The HF Markets group includes HF Markets (UK) Ltd under the FCA (ref 801701), but that UK entity generally serves UK clients, not Indonesian retail accounts.
Are my funds safe with HFM?
HFM advertises segregated funds and negative balance protection on its side*, but there is no Bappebti/OJK protection for this offshore entity. Consider the risk before depositing.
What is HF Markets (Seychelles) Ltd?
It's the HFM group entity (reg. 8419176-1) that holds the FSA Seychelles licence and serves international clients, including Indonesia, via the /sv/ domain.
How do I check HFM's regulation?
See the Legal Documentation on hfm.com, then match the entity name and registration number (8419176-1) on the FSA Seychelles register. For the FCA claim, check the FCA Register (ref 801701).