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TriumphFX Review - Is it scam or safe?

TriumphFX Review - is www.tfxi.com scam or good forex broker?

RATING: 2.7 / 4 REVIEWS ForexBrokerz TriumphFX
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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $100 .01 :500 1 pips

 

TriumphFX offers its clients one basic account type – a standard MT4 one which is said to offer NDD execution, leverage up to 1:500 and variable spreads.

 

Besides, there is a swap-free account option for traders of Islamic belief, and a Fund Management Program for investors and managers (professional traders).

 

We find nothing special in the offering  of this offshore brokerage - the variable spreads offered by this offshore broker are average, starting out at 1 pips for the EUR/USD, leverage is high and minimum initial amount required is standard.

 

The Company. Security of Funds

 

Company Country Regulation
Triumph Int. (Cyprus) Limited Cyprus CySEC
Triumph Int. Limited Vanuatu FSC

 

TriumphFX offers trading in forex and precious metals on the popular MetaTrader 4 platform. According to the broker’s website, it operates on a NDD execution model and keeps client funds in segregated accounts. Furthermore, the broker claims to implement protocol via system technology to ensure that client accounts will never go negative to protect traders from liabilities.

 

The broker was formed in 2009 in the British Virgin Island (BVI). Currently, there are two companies behind the brand, one registered offshore in Vanuatu, and another regulated in Cyprus (and across the EU and EEA).  

 

Cyprus is a jurisdiction prefered by many forex brokers, as it allows them to operate accross Europe. The local regulator has certain requirements to regulated entities, such as for minimum capital adequacy, client account segregation, filing regular reports, etc. Besides, brokers regulated by CySEC have to comply with all the rules set on a EU level. This provides clients of CySEC-licensed brokers with sufficient assurance for the security of their funds.

 

Trading Platforms

 

TriumphFX does not stray from the mainstream and supports the most popular forex trading platform, MetaTrader 4. It is available as desktop and mobile versions.

 

The MT4 is easy to use and offers all a trader needs: a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. It comes in desktop, web and mobile versions with this broker.

 

One more thing – when we tried out TriumphFX’s MT4 on demo account, the spreads on the EUR/USD turned out to be tighter than 1 pips:

 

 

Methods of Payment

 

Clients of TriumphFX are offered limited payment methods - telegraphic and wire transfer.

 

All withdrawals are subjected to intermediary bank charges ranging from 25 USD to 75 USD per transaction.

 

Conclusion

 

TriumphFX is an broker that uses the standard MT4 and claims to offer pure NDD environment. It is operated by two entities, one of which is regulated in Cyprus, which is the broker's strongest advantage. Here are, in a nutshell, the pros and cons of TriumphFX:

 

Pros Cons
CySEC license Has an offshore entity
MT4 available, NDD environment No choice of trading platforms
Commission-free trading Limited payment methods

 

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Traders` reviews for TriumphFX

Spread

Pros

Cons

 

 

Slippage

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Cons

 

 

Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scammer

I trade for 2 hours and all my money gone. Small lot size and the not yet reach 500 pips but my account MC. Wtf guys?? Definitely this is market maker!!

ahmad 12/16/2019

Bad Service

One of your indian staff set up meeting for explanation and guidance. But on the meeting time, he passed me to someone called Aron. Aron force me to deposit for 30k usd. After deposit, he blocked me in whatsapp. Please refund my money!!

Raganesan 10/01/2019

Scammer Alert

Bila nak withdraw susah. tapi masa deposit senang la tu la ,janji terabur masa nak withdraw susah. Setiap kali Awin call mesti minta top up sahaja. kalau minta withdraw awin tak nak reply. apa la perangai macam setan \

Translated by Google:

It's difficult to withdraw. but the deposit period is happy la tu la, the promise of bankruptcy is difficult to withdraw. Each time a Call call requires only a top up. If you ask for a withdrawal you don't want to reply. what a demon he is

shafiq 10/01/2019

TriumphFX

Oh dulu ya saufi awin aaron dan ramai lagi di gcm asia, tapi boss dia kan KENT WONG, kalau boss pon cacat tentu reps ikot cacat,

kalau boss minta loss money, jadi saufiawinaaron kena ikot, kalau tak follow kena buang kerja pulak hihihi

by the way, bila gcm asia nak pindah office da 2 tahun dekat summit usj, pindah2 la sbb ramai cari ni.

triumphfx ada di damansara boleh siapa2 nak datang belajar trade free je, dialu alukan, sebab triumph fx tak sorok belakang2 siap ada event di Hilton hotel lagi,

gcm? masih menyorok lagi ke? hihihi


Translated by Google:

TRIUMPH FX
Oh yeah, I think it's cool and it's a lot of people in Asia, but the boss is KENT WONG.

If the boss asks for a loss of money, then be careful to follow suit, if you don't follow up with the job

by the way, when gcm asia moved office for 2 years near summit usj, move2 as many people are looking for.

triumphfx is in the market for anyone to come to learn trade free je, welcome, because triumph fx is not behind the scenes at the Hilton hotel event,

gcm? still hiding out? hi

umeS iaH 09/25/2019

Scam alert

Again, I knew the latest staff from this platform are from gcmasia. They do something bad on gcmasia client, now they jump over triumphfx continue their journey to make client losing money to get commission. Saufi Awin Aaron?

Triumph Suck 08/20/2019

Bad Service

I am one of the victim here. Their name card showing on Cyprus but they are on Malaysia. Please try to get their license to give face to face trading advise, for sure they unable provide to you! And the money is go through Malaysia or IB account, Police is able to detect them, anything just report the account number! I will always here to help you all to bring them down!

Ashraff Yusof 08/16/2019
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