The Securities and Exchange Commission (SEC) has issued strict warnings against two online trading platforms, Exness Global Limited and HFM-HF Markets, for operating without the necessary licenses.

In separate advisories released on 12 December 2025, the regulator clarified that neither entity is authorised to solicit investments from the public in the Philippines.

The Commission noted that both platforms have been actively using social media and mobile applications to target Filipino investors.

Exness is described as a global brokerage offering access to forex, crypto, and stocks, primarily through contracts for difference (CFDs). Similarly, HFM presents itself as a venue for trading CFDs on commodities, bonds, energies, and indices.

However, the SEC emphasised that under the Securities Regulation Code, any securities offered to the public must be registered. Additionally, the issuer is required to hold a secondary license to sell or offer these products.

The regulator confirmed that both Exness and HFM are “not registered as a corporation” in the Philippines. Consequently, they operate without the necessary authority to sell securities or act as broker-dealers.

The advisories included a severe warning for individuals acting as agents, influencers, or promoters for these platforms.

The SEC stated that such individuals could be held criminally liable, facing a maximum fine of “Five Million Pesos” or imprisonment of “Twenty One (21) years”.

Consequently, the public is advised to “exercise caution before investing in these kinds of unregistered online investment platforms”.

Featured image by diloka107 via Freepik.