HFX

Our HFX review provides an independent, evidence-based analysis of the platform's regulatory standing, trading costs, and execution speeds. This detailed breakdown evaluates key features and safety protocols to help you answer: is HFX a good broker?

Is HFX Legit and Safe?

HFX is a legitimate brokerage holding a valid BAPPEBTI license, although its regulatory safety net is tailored for local Indonesian clients rather than international retail traders.

What Is HFX? Company Background

HFX, operating officially as PT. HFX Internasional Berjangka (formerly known as PT. Fortis Asia Futures), is an online broker headquartered in Jakarta, Indonesia. Established in 2006, the brokerage offers retail and institutional clients electronic access to global financial markets, with a physical presence centered in Jakarta’s financial district. The company operates primarily through its official web domain, hfx.co.id.

• The broker operates under its official corporate name PT. HFX Internasional Berjangka — ensuring a verifiable, physical legal presence in Jakarta since its founding in 2006.
• HFX is a registered member of the Jakarta Futures Exchange (JFX) and the Indonesian Futures Clearing House (KBI) — providing an added layer of transactional auditability and clearing guarantees.
• Tradable asset classes: forex, metals, energies, indices.
• Supported platforms: MetaTrader 4, WebTrader, mobile applications.

HFX Regulation

HFX is overseen by the Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) and the Anjouan Offshore Finance Authority (AOFA). BAPPEBTI represents a specialized, tier-3 national regulator in Indonesia, while the Anjouan authority is a tier-4 offshore regulator with light oversight. You can visit BAPPEBTI official to verify the licensing status of PT. HFX Internasional Berjangka. You can check the registry independently by searching for license number 877/BAPPEBTI/SI/1/2006.

The table below provides a side-by-side comparison of the regulatory authorities, licensing numbers, and corresponding regional frameworks governing HFX:

Clients onboarding under the Indonesian BAPPEBTI entity benefit from local legal recourse and segregated banking, whereas offshore registrations carry substantially higher counterparty risk.

Which HFX Entity Serves Your Region?

The specific legal entity that handles your trading account depends entirely on your geographic residency and where you choose to onboard.

Indonesian citizens are serviced exclusively by PT. HFX Internasional Berjangka. This regulated onshore onboarding requires strict identity verification, tax registry documentation, and a physical bank account in Indonesia. All transactions are routed through local clearinghouses, and investor capital is protected under domestic clearing laws.

International clients are typically routed to the offshore entity, HFX Trade, which is regulated by the Anjouan Offshore Finance Authority. The onboarding process under this offshore entity is significantly more relaxed, requiring only basic identity uploads and proof of address. However, registering with the offshore entity means trading without statutory investor compensation schemes, leaving international users with minimal legal recourse if the broker faces insolvency.

Restricted Countries

HFX is unable to accept registrations or service clients from jurisdictions where local legal restrictions or international sanctions prevent online CFD trading.

• Unsupported jurisdictions: United States, Canada, European Union, Japan, North Korea, Iran, and Syria.
• Local regulatory limitations: Regional frameworks like BAPPEBTI explicitly prevent onshore accounts from serving international retail clients who do not possess verified Indonesian banking connections.

Client Fund Protection

HFX provides a standard suite of financial safety measures designed to isolate customer deposits from operational liabilities.

• HFX maintains segregated client accounts in major tier-1 Indonesian custodian banks — keeping customer trading capital legally isolated from the broker’s operational funds.
• Negative balance protection is automatically applied to retail accounts — ensuring that extreme market volatility cannot push your trading balance below zero.
• Clearing guarantees are backed by KBI (Indonesian Futures Clearing) — ensuring that registered local contracts are fully executed and cleared through state-approved mechanisms.

HFX User Reviews and Trustpilot Rating

HFX holds a Trustpilot rating of 4.2/5 based on approximately 11,000 reviews, reflecting a generally positive user sentiment as of July 2026. This rating demonstrates a high level of client trust, though experiences can vary depending on individual trading and compliance requirements. You can See HFX reviews on Trustpilot to read firsthand accounts from verified platform users.

The overall feedback indicates that most traders find the platform highly reliable, particularly for large transactions. However, a detailed analysis of user experiences reveals specific recurring patterns in customer satisfaction and complaints.

Common Positive Feedback:

• Competitive Cost Structure: Users frequently praise the platform for offering highly competitive exchange rates and trading costs that represent significant savings over conventional retail banking options.
• High-Touch Customer Support: Many reviewers commend the professional, highly responsive, and human-led support team, noting their patience and expertise in guiding users through complex transaction setups.
• Reliable Transfer Speed: For standard, straightforward transactions, clients consistently report fast and predictable delivery times that align with advertised expectations.

Common Complaints and Drawbacks:

• Compliance and Security Delays: The most frequent complaint involves sudden transaction holds or account freezes triggered by strict compliance checks, requiring users to submit extensive additional verification documentation.
• Intermediary Bank Friction: Some users have reported unexpected delays and additional fees caused by third-party intermediary banks, which can sometimes slow down processing times over weekends or holidays.
• Software Interface Glitches: A segment of user feedback highlights occasional technical glitches or a confusing layout following recent updates to the platform's digital dashboard.

HFX Account Types

HFX structures its live trading accounts into four distinct tiers that accommodate both low-volume retail beginners and well-funded professional traders. This multi-tiered structure allows traders to select a fee model and leverage ratio that matches their budget and risk tolerance.

HFX Account Types and Minimum Deposit Requirements

HFX divides its trading environments into two entry-level options and two premium options, each requiring different capitalization levels and carrying unique trading conditions.

The Mini Account is designed for budget-conscious or low-volume retail traders, requiring a highly accessible minimum deposit of 100 USD. It offers a maximum leverage of up to 1:200, enabling smaller accounts to maximize their market exposure. Spreads on this account are variable and can start as low as 0.9 pips, but commission fees are applied to trades. With a minimum trade size of 0.1 lots and a cap of 5 standard lots per position, it is an excellent training ground for executing real-money strategies without substantial capital exposure.

The Mini Classic Account also requires a minimum deposit of 100 USD and provides leverage of up to 1:200, making it another beginner-friendly option. Unlike the raw spread structure, this account features spreads starting from 1.0 pip (with typical spreads averaging around 2.4 pips on major pairs). The main advantage here is a simpler, low-commission fee structure. It is designed for casual traders who prefer a straightforward "all-in-one" spread pricing model rather than calculating separate commission charges.

The Classic Account targets institutional or high-net-worth traders, demanding a steep minimum deposit of 5,000 USD. To comply with local regulatory safety guidelines, the maximum leverage on this account is strictly capped at a conservative 1:50. Spreads start at 1.0 pip, but the account stands out by allowing massive position-sizing flexibility, with traders able to open up to 40 standard lots per trade. This high entry barrier makes it unsuitable for the general public, positioning it instead for corporate hedgers and experienced portfolio managers.

The Premium Account represents the broker’s professional-grade trading environment, also requiring a minimum deposit of 5,000 USD and capping leverage at 1:50. In exchange for this high capital commitment, traders receive direct access to raw spreads starting from 0.0 pips with absolutely no markups. Commissions are highly competitive, starting at just 1.50 USD per 10K lot (roughly equivalent to 15 USD per standard lot). This environment is custom-tailored for scalpers, high-frequency algorithmic traders, and users of automated Expert Advisors (EAs) who need the thinnest possible spreads to remain profitable.

Does HFX Offer an Islamic Account?

HFX does not offer a dedicated, permanent Islamic account that waives rollover fees indefinitely. Instead, the broker provides a built-in 7-day swap-free grace period on all four of its account tiers for forex currency pairs and precious metals, meaning overnight interest charges are waived if positions are closed within a week. If a trader keeps a position open beyond this 7-day limit, standard rollover fees or administrative carrying charges will be applied to the account.

HFX Fees and Trading Costs

HFX's trading pricing sits in the mid-range of the retail industry, pairing variable spreads starting from 0.0 pips on Premium tiers with commissions of up to 15 USD per lot. Understanding these costs is essential for calculating the overall expense of running different trading strategies.

HFX Trading Fees (Spreads / Commission Fees / Swap and Overnight Fees)

HFX employs a hybrid pricing structure that combines market-derived floating spreads with direct commissions, varying depending on the chosen account type.

• Spreads: Spreads are variable and fluctuate in response to underlying market liquidity. For the Classic, Premium, and Mini accounts, spreads can drop as low as 0.0 pips during periods of high liquidity, though typical daytime spreads are wider. On the Mini Classic account, the spreads are marked up, starting from a baseline of 1.0 pip, with typical spreads on majors like EUR/USD averaging around 1.7 to 2.4 pips.
• Commission Fees: Unlike raw-spread brokerages that offer commission-free trading on standard tiers, HFX charges commissions across its entire account lineup. On the Premium Account, the commission starts at 1.50 USD per 10K lot (amounting to 15 USD per standard round-turn lot). On the Classic Account, commissions are lower, starting from 2 USD per lot round-turn for Forex, Gold, and Silver, and increasing to 10 USD per lot for Oil contracts. The Mini Account carries a higher direct commission of 15 USD per standard lot round-turn, making it less cost-effective for high-frequency trading.
• Swap and Overnight Fees: When holding a position past the daily market close (5:00 PM EST), traders incur a swap fee reflecting the interest rate differential between the two traded currencies. For Forex and metals, HFX grants a 7-day swap-free grace period on all live accounts, which temporarily waives these charges. After the seventh day, daily swaps are applied. Importantly, oil and energy contracts are excluded from this grace period, carrying immediate overnight swap fees from day one.

HFX Non-Trading Fees (Inactivity Fees / Currency Conversion Fees)

Beyond the costs incurred from opening and closing market positions, traders must account for secondary administrative fees that can impact profitability.

• Inactivity Fees: HFX does not charge a standard, automated inactivity fee for dormant trading accounts, which allows long-term investors or swing traders to leave their accounts inactive without facing monthly maintenance penalties.
• Currency Conversion Fees: The primary account base currency is USD. Because HFX is regulated by BAPPEBTI and serves local Indonesian clients, initial funding is frequently completed in Indonesian Rupiah (IDR). Whenever funds are deposited in IDR and converted to USD (or vice-versa during withdrawals), a currency conversion fee is applied. This conversion fee is calculated based on the prevailing commercial exchange rates of the clearing banks, which usually include a minor conversion spread markup of 1% to 2% over the mid-market rate.

HFX Deposits & Withdrawals

HFX facilitates secure funding primarily through standard bank wire transfers, maintaining zero internal processing fees and a low minimum withdrawal threshold of 5 USD. This streamlined funding structure relies entirely on regulated banking channels.

Unlike international brokers that support modern e-wallets, credit cards, or cryptocurrency payments, HFX supports bank wire transfers (such as local bank transfers in Indonesia) as its primary deposit and withdrawal method.

The minimum deposit requirement to activate a live trading account is 100 USD, while the maximum deposit amount is unlimited. HFX does not charge internal deposit fees, although correspondent and receiving banks may apply international transaction fees depending on their specific wire fee schedules.

For withdrawals, the minimum limit is set at 5 USD (or 60,000 IDR), with no maximum limit on withdrawals. If a withdrawal request is submitted before 11:00 AM Central Indonesian Time (WITA) from Monday to Friday, HFX processes it on the same business day between 9:00 AM and 6:00 PM. Requests submitted after 11:00 AM are processed on the following business day. Standard withdrawals are processed and sent to the client’s receiving bank within 1 business day. HFX charges zero internal withdrawal fees, though any third-party intermediary or correspondent bank fees must be covered by the client.

Withdrawal issues reported on trading forums are rarely associated with processing failures but instead relate to mandatory compliance steps. Same-day withdrawals may be temporarily held if a client has not completed full identity verification (KYC) or if they request a transfer to a third-party bank account, as BAPPEBTI regulations strictly mandate that the name on the trading account must perfectly match the name on the beneficiary bank account.

HFX Trading Platforms, Conditions & Experience

HFX provides a reliable, though highly specialized, trading experience centered around the industry-standard MetaTrader 4 engine and regulated execution conditions. The broker prioritizes technological stability over platform diversity, offering a standardized suite of execution tools.

Does HFX Support MT4, MT5 & Mobile Trading?

HFX operates exclusively on the MetaTrader 4 (MT4) ecosystem, deciding not to support the newer MetaTrader 5 (MT5) platform. This means that if you are looking for MT5's advanced netting systems or modernized multi-threaded strategy testers, you will need to seek an alternative broker.

For MT4 users, the broker provides full cross-device compatibility:

• HFX MT4 Desktop: Available for Windows systems and Mac OS (run via Wine simulation), providing 9 chart timeframes, historical data analysis, and support for automated Expert Advisors (EAs).
• HFX MT4 WebTerminal: Accessible directly through major web browsers without downloading software, offering basic chart analysis and quick order routing.
• HFX Mobile Trading: Dedicated iOS and Android mobile apps (including iPad and Android tablet versions) that let traders monitor live prices, modify open orders, and use over 20 mobile-friendly technical indicators.

What Can You Trade on HFX? (markets and instruments)

HFX offers a concentrated selection of core financial markets including forex, spot metals, energies, and indices under its BAPPEBTI regulation. The broker focuses on highly liquid asset classes rather than providing thousands of niche CFDs.

The tradable asset catalog consists of:

• Forex: A complete range of major and minor currency pairs (e.g., EUR/USD, GBP/USD, USD/JPY) along with regional exotics.
• Precious Metals: Spot contracts on Gold (XAU/USD) and Silver (XAG/USD) with competitive contract specifications.
• Energies: US Crude Oil spot contracts (USOIL) for energy-focused portfolios.
• Global Indices: Major index products like the Dow Jones, Nasdaq, and regional stock baskets.

Importantly, HFX does not offer individual stock CFDs, cryptocurrencies, or agricultural commodities under its primary regulated entity, which may limit the diversification options of multi-asset traders.

HFX Leverage, Margin & Order Execution

HFX employs a standard STP/NDD market-execution model with leverage caps ranging from 1:50 to 1:200 depending on the client's account tier. The brokerage operates as an intermediary agent, routing your trades directly to institutional liquidity providers to ensure minimal conflict of interest.

Trading parameters vary significantly based on account classification:

• Leverage Limits: While Mini and Mini Classic retail accounts offer flexible leverage of up to 1:200 on Forex pairs, higher-tier Classic and Premium accounts cap maximum leverage at a conservative 1:50. This complies with strict BAPPEBTI investor protection standards for larger capital pools.
• Order Execution: The platform utilizes automated market execution (no re-quotes), allowing for rapid entry during liquid sessions.
• Risk Safeguards: Risk management parameters are strict. Premium tiers feature a 50% margin call and a 20% stop-out level, while the retail-focused Mini accounts have a 40% margin call and a 10% stop-out limit.

HFX Research Tools & Educational Resources

HFX provides simple calculation utilities and approved regional workshops, though its native educational material is fairly limited compared to global competitors. The educational structure focuses more on in-person and local events than digital learning suites.

Traders can access built-in tools like margin calculators, pip-value estimators, and currency converters through the secure "myHFX" client portal.

Crucially, there is a common point of confusion online regarding "HFX Academy" or "HFX Trader." These highly searched phrases refer to third-party educational networks and multi-level marketing academies focused on high-frequency binary options trading; they are completely unaffiliated with the regulated brokerage PT. HFX Internasional Berjangka. For legitimate education, HFX provides regulatory-approved physical workshops, trading seminars, and basic web-based platform guides designed to help users navigate the MT4 platform safely.

How Good Is HFX Customer Support?

HFX provides highly responsive and direct customer support through localized phone, email, and live messaging channels primarily targeting Indonesian office hours. The support desk delivers a personalized, human-led service rather than relying heavily on automated chatbots.

Support is accessible via:

• Telephone Support: Direct access to desk operators at +6221-2933-7651.
• Email Communication: Support requests can be submitted to support@hfx.co.id for technical or funding issues.
• On-site Live Chat: Real-time communication during business hours directly through their official portal (hfx.co.id).

While the support team is highly praised for resolving account setup and banking queries quickly, it does not operate as a 24/7 global helpdesk. Support coverage is aligned with local business hours (Monday to Friday, 9:00 AM to 6:00 PM Western Indonesian Time), which may delay response times for international traders operating in Western time zones.

Who Is HFX Best For?

HFX aligns best with domestic Indonesian traders who prioritize strict regulatory safety, whereas its limited asset index and platform options make it less appealing to international retail investors. Selecting the right broker requires matching its specific feature set to your personal trading style and risk profile.

Is HFX Good for Safety-Conscious Indonesian Traders?

Yes, HFX is an ideal choice for Indonesian traders who require strict local regulatory protections and domestic banking paths. By trading under the BAPPEBTI framework, users benefit from local custodian banking and the oversight of the Indonesian Futures Clearing House (KBI). This setup completely eliminates the primary issues associated with using offshore platforms, such as regional internet censorship blockages or complex international wire delays, ensuring a highly reliable legal and financial foundation.

Is HFX Good for Professional Scalpers?

HFX is best suited for well-funded professional scalpers rather than retail scalpers operating with small accounts. For active traders who can meet the premium capitalization threshold of 5,000 USD, the Premium account provides raw-spread market access and rapid STP execution that minimizes slippage during liquid sessions. However, smaller-scale retail scalpers utilizing the basic 100 USD accounts will likely find high-frequency strategies unprofitable due to the combined burden of wider spreads and the broker's 15 USD per-lot commission.

Is HFX Good for Beginner Retail Traders?

HFX is moderately suited for beginners, offering an accessible entry tier but lacking the extensive interactive digital education of larger global brokers. While the low 100 USD minimum deposit makes it easy to transition from a demo to a live environment, the broker does not offer modern copy-trading networks or cent accounts. Furthermore, because there is no comprehensive digital educational academy, beginners are expected to already possess a baseline level of trading knowledge or rely on the broker’s occasional, localized physical seminars.

• Best for: Domestic Indonesian traders prioritizing regulatory compliance, high-volume MT4 users, and well-capitalized traders who can afford the premium STP account tiers.
• Less ideal for: Budget-conscious scalpers, international retail traders requiring e-wallets, and users who prefer the MetaTrader 5 (MT5) interface.

Compare HFX with Other Popular Brokers

HFX faces tough competition from prominent local brokers, but its 7-day swap-free grace period gives it a unique cost advantage over other BAPPEBTI-licensed entities. Comparing this broker side-by-side with its chief regional competitors highlights its relative strengths and weaknesses in pricing, asset diversity, and technology.

HFX vs Maxco

HFX operates under a pure STP model with raw spreads, whereas Maxco offers an exceptionally low minimum deposit and a wider selection of global stocks. While both brokers are strictly regulated in Indonesia, Maxco focuses heavily on a broader set of instruments, including global shares and ETFs; conversely, HFX keeps a highly concentrated asset list focused strictly on forex, gold, oil, and major indices. In terms of technology, both brokerages support the classic MT4 platform, but Maxco also features modern integrations and its own proprietary application. Furthermore, HFX provides a dedicated 7-day swap-free grace period for metals and currency pairs on all tiers, which contrasts sharply with Maxco’s standard rollover fee structures.

• HFX vs Maxco Takeaway: HFX is the better choice for local currency traders using MT4 EAs; Maxco suits stock CFD investors more.

HFX vs MIFX

HFX features tighter raw spreads and a swap-free grace period, while MIFX is a significantly larger broker with a specialized proprietary trading app and ultra-low micro lot sizes. MIFX is the largest broker in Indonesia by trading volume and has been operating since 2000, whereas HFX runs a smaller, more boutique-style regional brokerage. MIFX offers ultra-low mini and micro-lot sizes starting from 0.01 lots with highly competitive local currency accounts; by contrast, HFX's smallest live tier (Mini account) requires 0.1 lots, representing a higher capital exposure for absolute beginners. While both brokers are regulated by BAPPEBTI, HFX's Premium tier can offer thinnest raw spreads starting from 0.0 pips (subject to a high deposit), whereas MIFX provides more competitive standard, commission-free structures across its lower tiers.

• HFX vs MIFX Takeaway: HFX is the better choice for experienced scalpers; MIFX suits beginners seeking micro-lot sizes more.

HFX vs Finex

HFX provides a raw STP account structure with an integrated swap-free window, whereas Finex prioritizes beginner-friendly domestic accounts with exceptionally fast local deposit clearances. Finex specializes in lightning-fast instant processing for Indonesian bank deposits; on the other hand, HFX’s wire-only transaction processing is secure but occasionally requires manual verification that can take up to a full business day. Finex offers highly accessible retail pricing on its standard tiers; on the contrary, HFX requires a substantial 5,000 USD deposit to unlock its thinnest premium STP pricing with 1:50 leverage limits. Additionally, while both are local brokers keeping a relatively tight selection of assets, Finex provides slightly more localized customer support setups compared to HFX’s standard desk.

• HFX vs Finex Takeaway: HFX is the better choice for high-volume automated traders; Finex suits casual retail traders more.

HFX Broker Quick Verdict

HFX is a solid choice for safety-conscious Indonesian traders who value local BAPPEBTI regulation, though its narrow asset catalog and high commission rates may deter international retail investors. Ultimately, this HFX review highlights that the platform excels in domestic financial security and transactional transparency, making it a highly dependable regional choice despite its higher premium deposit requirements.

Editorial Transparency: This HFX review is based on information from the official HFX website, current regulatory filings, and independent third-party sources such as Trustpilot. We cross-checked the broker's regulation and license details, account types, trading and non-trading fees, deposit and withdrawal terms, platforms, and real user feedback to ensure accuracy and objectivity. This content is for educational purposes only and does not constitute financial advice; trading CFDs carries a high risk of losing money. Last updated: July 2026.