Our investigation into HFG found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.
None found
High (4/4)
Undisclosed
Avoid — do not deposit
Who is HFG?
On the surface, HFG looks like an ordinary forex and crypto broker. Its public site is presented at http://www.hfgforex.com.au/en/index.html. But surface impressions are exactly what these operations rely on — the substance behind HFG is where the problems begin.
Is HFG regulated?
We could find no evidence that HFG holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.
Red flags we identified
- Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
- Offshore or shell-company registration used to avoid oversight
- Aggressive “account managers” coaching clients to deposit
- No credible physical address or verifiable corporate record
- No verifiable licence from a recognised financial regulator
Our analysis
HFG claims to be a regulated broker under the regulation of the Financial Service Providers of New Zealand (FSP). Then we searched on the New Zealand Financial Maekets Authority (NZ FMA) and found no matching result. That means HFG is not authorized to provide financial services in New Zealand. Downloading HGF MT4 platform, we found HGF is an Australia-based firm. We searched the Australian Securities & Investment Commission (ASIC), and found that HGF had an appointed representative license, but it was ceased in June 16, 2022. That means HGF is no longer authorized to provide financial services in Australia. The truth is that HGF is not regulated by any regulators. Letting this broker hold or control customers' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
Can you recover money lost to HFG?
If you have deposited with HFG, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.
Were you scammed by HFG?
You may still have options. Our team can trace where your funds went and tell you honestly whether recovery is realistic — with a free, confidential case review.
Start a free recovery review →Warning: never pay an upfront fee to anyone “guaranteeing” recovery. Cleverecovery does not guarantee outcomes.