HFX Review: Regulated in Indonesia, Not to Our Standard

HFX is a legitimately licensed forex broker in Indonesia, regulated by the local authority BAPPEBTI. It is not a scam. But it holds no top-tier regulation, it serves the Indonesian domestic market, and it offers none of the protections our audience should expect from a Tier 1-regulated broker. For those reasons it does not meet our Regulation First standard, and we do not rate it.

Is HFX regulated?

Yes, but only locally. HFX is operated by PT. HFX Internasional Berjangka (formerly PT. Fortis Asia Futures), a Jakarta-based company authorised and regulated by Indonesia’s Commodity Futures Trading Supervisory Agency, BAPPEBTI, under licence number 877/BAPPEBTI/SI/1/2006. That licence is genuine, and it can be verified on BAPPEBTI’s own official register.

The distinction that matters is the level of regulation. BAPPEBTI supervises brokers serving Indonesian clients under Indonesian rules. It is a domestic regulator, not a top-tier international authority like the FCA in the UK, ASIC in Australia, or CySEC in the EU. Its oversight does not extend beyond Indonesia, and it provides no protection to clients outside that market.

So HFX is best understood as a regulated regional broker for Indonesian traders, not an internationally regulated broker. If you are in the UK, the EU, the Middle East, Australia, or Singapore, BAPPEBTI regulation does not cover you, and HFX is not aimed at you.

What HFX offers

For context, HFX runs on the MetaTrader 4 platform (desktop, web, and mobile) and offers forex, spot metals, energies, and indices, with several account tiers from a $100 minimum up to higher-deposit premium accounts, leverage up to 1:200 on smaller accounts, and features such as hedging, scalping, and expert advisors. It provides segregated client funds and negative balance protection under Indonesian rules. On paper the trading setup is reasonable for a regional broker. The reason we do not rate it is the level and reach of its regulation, not evidence of misconduct.

Why HFX is Not TC Rated

Our Regulation First standard recognises brokers regulated by a top-tier international authority such as the FCA, ASIC, or CySEC, because that is the level of oversight and investor protection our audience needs. HFX holds only a domestic Indonesian licence, which does not meet that bar and does not protect clients in the markets we cover. It is a legitimate local broker, but it is not one we rate or recommend for our readers. When we complete our full scoring process, a broker with only regional regulation like this would not reach our TC Validated threshold.

Conclusion

HFX is a genuinely licensed Indonesian broker, regulated by BAPPEBTI and verifiable on the regulator’s register, and we have seen no evidence that it is a scam. But local Indonesian regulation is not the same as top-tier international oversight, and it offers no protection to traders outside Indonesia. For our audience, HFX does not meet our Regulation First standard, so it does not carry a TC Rating. If you want to trade, choose a broker regulated by a top-tier authority in your own market.

Frequently asked questions

Is HFX regulated?
Yes, but only domestically. HFX (PT. HFX Internasional Berjangka) is regulated by Indonesia’s BAPPEBTI under licence 877/BAPPEBTI/SI/1/2006. It is not regulated by any top-tier international authority such as the FCA, ASIC, or CySEC.

Is HFX a scam?
No. HFX holds a genuine, verifiable Indonesian licence and we have found no strong evidence of fraud. Our reservation is that it is regulated only locally, which does not meet our Regulation First standard for international traders.

Can traders outside Indonesia use HFX?
HFX is aimed at the Indonesian market and regulated only under Indonesian rules. Its BAPPEBTI regulation provides no protection to clients in the UK, EU, Middle East, Australia, or Singapore.