Our team has meticulously compiled a set of alternatives that we believe are safer and more suitable for you. In this collection, our emphasis is on alternatives featuring investment products similar to TriumphFX’s primary focus, which is Forex. Is important to notice that TriumphFX seems to operate in different ways in Asia and Europe (with CySEC regulation).
Pros & cons of TriumphFX broker
There are several useful educational materials available on TriumphFX’s website, including Forex essentials that teach all important entry-level basics for Forex and financial trading in general. Spreads, chart types, risk management, and trading psychology are among the educational resources. The Forex glossary will offer explanations for all Forex terms and words which may be difficult for beginners to grasp.
TriumphFX fees compared to XM fees
- Apart from that, one can also trade precious metals such as gold and silver at the TriumphFX Trading platform.
- Generally, fees or spread depend on the account type as higher grade accounts may feature some discounts, yet generally starting from 0.1 pip.
- Triumphfx Lowyat reviews are another testament to the broker’s bad reputation and user experience.
- And now, 6 months after, I’m totally confident that they are one of the rising star in this business.
This is true because TriumphFX is registered and regulated in Cyprus. Of course, as any broker TriumphFX supporting g its clients in various ways and available only through working hours with its Cyprus office. Even though, the team is not available 24/7 or on weekends, we found its answers quick and relevant via Live chat or phone lines. Withdrawals will occur some fees, which are waived by the payment provider himself and remain your responsibility, see terms below. And of course, always consider rollover or overnight fee as a cost, which is about 2.5% fee or refunds depending on the direction of the position you take.
It is important to note that these types of protections do not extend to TriumphFX subsidiaries operating outside the European Union. However, TriumphFX states on its website that it takes measures to ensure clear segregation between the funds of the clients and those of the company. This means that in the case of bankruptcy of the firm, your funds will remain safe in a segregated account, in accordance with the Cyprus Securities and Exchange Commission client funds regulations. This is a controversial point, as we have demonstrated throughout the rest of the article. However, it is important to note that TriumphFX Cyprus is regulated, and the company must adhere to strict guidelines to maintain this regulation. Because of this, clients are provided with a considerable level of safety.
TriumphFX review 2025
In addition to the protection mentioned above, TriumphFX Cyprus is also covered by the Investor Compensation Fund (ICF), a Cyprus investor compensation fund working in conjunction with CySEC. The ICF guarantees compensation payments of up to €20,000 to clients of TriumphFX Cyprus in the event of insolvency. Allegations suggest TriumphFX’s business model in Asia resembles a Pyramid Ponzi gm trader triumphfx Scheme.
See some of the TriumphFX spread examples below, also you may compare fees to another popular broker Pepperstone. TriumphFX defined its pricing strategy based on low spreads and a fractional trading basis, so you will benefit from better pricing all performed with trading consistency TriumphFX provides. The trades are executed using Ctrader, a reliable platform. It’s important to note that CTrader is not responsible for any potential misconduct by TriumphFX. Want to know if TriumphFX is a scam, what regulations it holds, and how it operates? Look no further—this article is your ultimate guide to uncovering the truth about TriumphFX.
TriumphFX and CySEC
TriumphFX minimum deposit amount is 500$ for the first grade STP account at Rubix, while other accounts deploy higher levels of first deposits. Generally, fees or spread depend on the account type as higher grade accounts may feature some discounts, yet generally starting from 0.1 pip. When it comes to online trading, security is paramount to understanding that your capital is secured and protected by the law and regulations. Moreover, the introduction of the TFX coin contributes to the scepticism.
Just because Triumph Global Asia Limited stood out to be a larger scam, many thought it is the same with TFXI. And Why is one licensed under Republic of Seychelles and the other is registered under cyprus? (SC) Limited is regulated by the Financial Services Authority (FSA) of Republic of Seychelles as a “Securities Dealer” bearing license number SD080. Therefore, trading with TriumphFX strong technology based on STP execution you will also be able to deploy a strategy that works the best for you. And of course, always learn how to use leverage smartly in order not to fall under inefficient risks.
We advise investors to conduct thorough research and investigation on the company independently to make well-informed decisions when selecting a broker. To help you, our team has gathered some alternatives in this article that, in our opinion, are safer, especially for Asian investors who may be more exposed to alleged illegal activities. Warning signs, such as regulatory actions by SFC, MAS, and OJK, indicate potential issues. Although TriumphFX Cyprus seems to comply with regulations, the company’s multi-level marketing structure in Asia, reminiscent of a pyramid Ponzi scheme, is a cause for concern. TriumphFX raises safety concerns, especially for Asian investors!
TriumphFX Trading Hours
However, this type of regulation does not let TriumphFX to offer its services in, for example, Malaysia, where the broker is NOT regulated. We attempted to open a demo account to showcase the platform and execute some trades. Unfortunately, we encountered issues as the demo account did not function as expected, as evidenced in the screenshot below.
- You might have already heard of TriumphFX, and there’s a chance you haven’t heard many positive things about this forex trading platform.
- TriumphFX is licensed by the Cyprus Security Exchange Commission – one of the trusted regulations in European and other nations.
- However, it is important to note that TriumphFX Cyprus is regulated, and the company must adhere to strict guidelines to maintain this regulation.
- In summary, the promise was that TFX would always be worth a minimum of 1 USDT.
What Leverage Does TriumphFX Provide?
There’s no mention of 30% of 60% being withheld to pay referral commissions on the TriumphFX website. Just wondering if the news in Singapore is true regarding the scam? Because it seems like these people are using a similar name, and used the broker tfxi as the platform. Hope to hear from those who have been investing for more than couple of years so i could have a peace of mind.
However, trading charges can sometimes be decided by the trading account you are using. No, Triumphfx is not a legitimate broker due to reasons including bad customer support, association with Ponzi pyramid schemes, and more. Triumphfx is included on Bank Negara’s financial consumer alert list, which proves that the broker is legitimately unsafe. The community trading feature is an advanced version of copy trading that allows you to follow the trades of professional traders and profit from their wins.