MANILA — The Securities and Exchange Commission (SEC) warned the public against the illegal operations of Excess Global Limited/Exness Global-Trading App and HF Markets (HFM).

In separate advisories, the SEC said Excess, which operates an online trading platform and mobile app, has been conducting promotional campaigns to solicit investors, including Filipinos, through its website despite lacking the required registration.

The SEC cautioned that individuals acting as salesmen, brokers, agents, promoters, recruiters, influencers, endorsers, or enablers of the Exness Global platform may be held criminally liable under the Securities Regulation Code (SRC), facing penalties of up to ₱5 million in fines, 21 years’ imprisonment, or both.

Meanwhile, the SEC said HFM is not registered to accept public funds for products involving contracts for difference (CFDs), which allow investors to speculate on price movements without owning the underlying assets.

HFM reportedly offers CFDs covering foreign exchange, commodities, bonds, metals, energies, shares, and indices, and promotes itself as providing a seamless, technology-driven trading experience.

“Known for their cutting-edge technology, wide-ranging education and impeccable trading conditions, it (HFM) claims to deliver multi-asset solutions at the higher standards,” the SEC said.