{
  "schemaVersion": 1,
  "kind": "demoOffering",
  "id": "hfm-mt4-svg",
  "urls": {
    "html": "/demo-accounts/hfm-mt4-svg.html",
    "json": "/demo-accounts/hfm-mt4-svg.json",
    "markdown": "/demo-accounts/hfm-mt4-svg.md"
  },
  "policy": "Documentation research, not account or execution testing. Research regions do not establish residence eligibility. Requires Verification is an evidence gap, not proof of unavailability. Source conflicts and product/entity qualifications must remain attached to claims. Demo results do not establish live trading performance.",
  "record": {
    "checked": "2026-10-12",
    "tested": false,
    "funds": 100000,
    "currency": null,
    "fundsLabel": "Up to 100,000",
    "fundsNote": "Maximum, not default. USD advertised ($); legal terms also contemplate other base currencies",
    "expiryType": "conflict",
    "expiry": "Sources disagree",
    "expiryNote": "Legal terms: Demo Premium 60 days; inactive demos deleted after 29 days. Landing page advertises unlimited usage.",
    "evidence": "conflicting",
    "signup": "Register myHF profile, then create demo.",
    "note": "Amount is maximum opening balance. Resolve marketing/terms discrepancy before claiming unlimited; 60-day rule specifically names Demo Premium.",
    "id": "hfm-mt4-svg",
    "broker": "HFM",
    "entity": "HF Markets (SV) Ltd",
    "regions": [
      "SVG"
    ],
    "region": "SVG",
    "regionLabel": "St Vincent & the Grenadines",
    "researchScope": "St. Vincent and the Grenadines",
    "platform": "mt4",
    "platformLabel": "MetaTrader 4",
    "terms": "Simulation; exact execution differences not stated.",
    "fundingReset": "Increase up to 3/day (min USD 10); decrease 2/day (min USD 5); max balance USD 10m equivalent.",
    "deposit": "Demo available before live account; free demo advertised.",
    "devices": "Terminal; browser WebTrader",
    "forexCoverage": "Forex supported; demo pair count not stated",
    "eligibility": "The international footer lists exclusions including the USA, Canada, Sudan, Syria, Iran, North Korea, UAE and Türkiye; other exclusions apply. Earlier research also recorded UK/EU targeting restrictions, which were not re-established in the latest extraction. Residence-specific acceptance Requires Verification; check the current official restrictions.",
    "evidenceNote": "Official broker documentation; signup and trading not tested.",
    "sources": [
      "hfm-1",
      "hfm-2"
    ],
    "visit": "hfm-1",
    "regulation": {
      "status": "No SVG FSA Forex licence",
      "entity": "HF Markets (SV) Ltd",
      "regulator": "St. Vincent and the Grenadines Financial Services Authority",
      "finding": "SVG FSA states it does not issue forex trading/brokerage licences or regulate/license BCs and LLCs for that activity. Thus the selected SVG entity has no SVG FSA forex authorization; incorporation is distinct.",
      "scope": "Local SVG authorization only. Not a claim about other HFM entities, overseas licences, or illegality. Corporate registration/standing for 22747 IBC 2015 was not independently confirmed. The cited warning targets another company; only its general regulatory policy is used.",
      "sources": [
        "hfm-reg-1",
        "launch-svg-policy",
        "launch-hfm-demo"
      ]
    },
    "signupLink": {
      "kind": "demo-page",
      "note": "Broker demo page; select your platform to continue.",
      "status": "Official entry route",
      "url": "https://www.hfm.com/int/en/trading-accounts/demo-account",
      "sourceUrl": "https://www.hfm.com/int/en/trading-accounts/demo-account",
      "checked": "2026-10-13",
      "tested": false
    },
    "execution": {
      "scope": "HF Markets (SV) Ltd · SVG · MetaTrader 4, MetaTrader 5. Public documentation; no account or execution tests.",
      "tested": false,
      "role": {
        "value": "Principal",
        "status": "Documented",
        "note": "SVG agreement4.1 states the company always acts as principal.",
        "sources": [
          "ex-b-hfm-terms"
        ],
        "checked": "2026-10-13"
      },
      "arrangement": {
        "value": "Sole venue with possible LP transmission",
        "status": "Broker-reported",
        "note": "Agreement6.1 makes HFM sole venue and exclusive counterparty even if it transmits orders to third-party liquidity providers.",
        "sources": [
          "ex-b-hfm-terms"
        ],
        "checked": "2026-10-13"
      },
      "demo": {
        "value": "Requires Verification",
        "status": "Requires Verification",
        "note": "Demo page promotes close simulation and MT4/MT5 access but does not establish specific slippage, liquidity, rejection or charge differences.",
        "sources": [
          "ex-b-hfm-demo"
        ],
        "checked": "2026-10-13"
      },
      "review": {
        "checked": "2026-10-13",
        "outcome": "Reviewed official documentation: role Principal; arrangement Sole venue with possible LP transmission; demo Requires Verification. No accounts opened or tested.",
        "remainingChecks": [
          "Obtain specific simulation omissions for the SVG MT4 and MT5 demos."
        ]
      }
    },
    "markets": {
      "scope": "HF Markets (SV) Ltd · St Vincent & the Grenadines · MetaTrader 4. Market coverage not yet reviewed.",
      "tested": false,
      "forexCfd": {
        "status": "Requires Verification",
        "note": "Forex CFD demo access has not been established for this entity and platform.",
        "sources": [],
        "checked": null
      },
      "cryptoCfd": {
        "status": "Requires Verification",
        "note": "Cryptocurrency CFD demo access has not been established for this entity and platform.",
        "sources": [],
        "checked": null
      }
    },
    "api": {
      "status": "Requires Verification",
      "type": null,
      "route": "Not established for this offering",
      "note": "API access has not yet been established for this legal entity and demo platform. This does not mean it is unavailable.",
      "requirements": "Confirm the account, platform and regional requirements with the broker.",
      "sources": [],
      "docs": [],
      "checked": null,
      "tested": false
    },
    "launchNotice": {
      "text": "No SVG FSA Forex licence for this entity. Incorporation is not a Forex licence; residence-specific authorisation Requires Verification. The international page lists excluded countries, including the USA and Canada. Check the full country restrictions before signup.",
      "sources": [
        "hfm-reg-1",
        "launch-svg-policy",
        "launch-hfm-demo"
      ],
      "checked": "2026-10-15"
    },
    "launchReviewed": "2026-10-15"
  },
  "sources": {
    "ex-b-hfm-demo": {
      "title": "HFM international demo account",
      "url": "https://www.hfm.com/int/en/trading-accounts/demo-account",
      "owner": "Broker",
      "checked": "2026-10-13",
      "locator": "Introductory simulation statement; MT4/MT5 list",
      "access": "Opened official page or PDF; documentation review only"
    },
    "ex-b-hfm-terms": {
      "title": "HF Markets SV Client Agreement,July2026",
      "url": "https://www.hfm.com/load_terms?file=HFSV/2026-07_HFSV_Client_Agreement__2026_07.docx.pdf",
      "owner": "Broker",
      "checked": "2026-10-13",
      "locator": "Clauses4.1 and6.1, PDF pp10-11",
      "access": "Opened official page or PDF; documentation review only"
    },
    "hfm-1": {
      "id": "HFM-1",
      "title": "HFM international demo account",
      "url": "https://www.hfm.com/int/en/trading-accounts/demo-account",
      "claims": "MT4/MT5 terminal/WebTrader, up to $100k, myHF signup, unlimited marketing, international restrictions and SV incorporation.",
      "checked_date": "2026-10-12",
      "verification": "Official documentation opened; no account test"
    },
    "hfm-2": {
      "id": "HFM-2",
      "title": "HF Markets (SV) Ltd Client Agreement July 2026",
      "url": "https://www.hfm.com/load_terms?file=HFSV/2026-07_HFSV_Client_Agreement__2026_07.docx.pdf",
      "claims": "Current linked agreement, clauses 28.1–28.6 pages 36–37: demo before live, balance adjustments, Demo Premium 60 days, inactivity deletion 29 days.",
      "checked_date": "2026-10-12",
      "verification": "Official documentation opened; no account test"
    },
    "hfm-reg-1": {
      "title": "SVG FSA — February 2026 notice stating general forex licensing policy",
      "url": "https://fsasvg.com/warning-notice-horizoncfds/",
      "evidence": "General-policy paragraph says FSA does not issue forex/brokerage licences and BCs/LLCs must obtain appropriate authorization where clients are located. HFM is not the warning's subject.",
      "source_date": "Published 2026-02-02; checked 2026-10-12.",
      "access_note": "Official current site retrieved. General policy applied narrowly; no HFM-specific adverse finding inferred."
    },
    "launch-hfm-demo": {
      "title": "HFM international demo: entity and country exclusions",
      "url": "https://www.hfm.com/int/en/trading-accounts/demo-account",
      "claims": "HF Markets (SV) Ltd; residence exclusions in footer.",
      "checked": "2026-10-15",
      "owner": "Broker"
    },
    "launch-svg-policy": {
      "title": "SVG FSA: general Forex licensing policy in warning notice",
      "url": "https://fsasvg.com/warning-notice-horizoncfds/",
      "claims": "General policy only: SVG FSA does not issue Forex brokerage licences. Warning target is not HFM or Axi.",
      "checked": "2026-10-15",
      "owner": "Regulator"
    }
  }
}