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The WikiFX Score of this broker is reduced because of too many complaints!

TriumphFX

Cyprus|Scam Brokers|
5-10 years|Regulated in Germany|Retail Forex License|MT4/5 full license|Vanuatu Retail Forex License Revoked|High potential risk|

https://www.triumphfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

TriumphCY-live

China
MT4
2

Influence

A

Influence index NO.1

Malaysia 8.06
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
TriumphCY-live MT4
Server Location China

Influence

Influence

A

Influence index NO.1

Malaysia 8.06

Surpassed 68.25% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+357 25030337
support@triumphfx.com
https://www.triumphfx.com/
Lophitis International Center, 2nd Floor. Corner of Soteri Michaelidi and 28th October Street, CY-3035 Limassol

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
TriumphFX
Blackwell Global
Kraken

Warning

SG MAS
2021-08-04
Investor Alert List
TriumphFX
Triumph FX

Contact number

English

+357 25030337

Broker Information

More

Company Name

Triumph Int. (Cyprus) Limited

Company Abbreviation

TriumphFX

Platform registered country and region

Cyprus

Company website
Facebook
Instagram
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

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This platform is a Ponzi Scheme. Please stay away! 8
Previous Detection : 2024-03-29
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

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Expose

    TriumphFX · Company Summary

    TriumphFX Review Summary in 10 Points
    Founded 2009
    Headquarters Cyprus
    Regulation BaFin, CYSEC
    Market Instruments Forex, precious metals
    Demo Account Available
    Leverage 1:30 for retail/1:500 for professional
    EUR/USD Spread 0.4 pips
    Trading Platforms MT4
    Minimum deposit $/€/£100
    Customer Support phone, email

    What is TriumphFX?

    TriumphFX was founded in 2009 and is based in Cyprus, providing professional online trading services to investors, traders, and institutional clients through a robust NDD and STP order processing model.

    TriumphFX is regulated by Federal Financial Supervisory Authority (BaFin) and Cyprus Securities and Exchange Commission (CySEC). TriumphFX is also registered with Financial Conduct Authority (FCA) and Vanuatu Financial Services Commission (VFSC), but these two licenses have already been revoked.

    TriumphFX has been brought into a series of scandals about the inability to withdraw funds, illegal brokers, as well as failing to log in to its official website, etc. Please be aware of the risk.

    TriumphFX's website

    Pros & Cons

    TriumphFX offers competitive trading conditions with low spreads, multiple account types, and MT4 trading instrument. Additionally, the broker is regulated by reputable authorities and offers negative balance protection. However, too many complaints from users saying that they have difficulty withdrawing. And their educational resources, research and analysis tools are limited compared to other brokers.

    Pros Cons
    • Regulated by BaFin and CYSEC • Too many complaints from users
    • Offers multiple account types • Limited range of tradable instruments
    • Competitive trading conditions • Limited educational resources
    • Wide range of payment methods available • No 24/7 customer support
    • User-friendly MT4 trading platform • Limited research and analysis tools

    Note: The above table is based on general information and may not be comprehensive. Pros and cons may vary depending on individual experiences and circumstances. Each trader has unique needs and preferences, so it is important to carefully consider your own trading style and goals when selecting a broker.

    TriumphFX Alternative Brokers

    There are many alternative brokers to TriumphFX depending on the specific needs and preferences of the trader. Some popular options include:

    • XM: This is a popular forex broker that is known for its low spreads, multiple trading platforms, and excellent customer service. They are regulated by multiple top-tier authorities, including the ASIC, CySEC, and FCA, which makes them a safe and reliable choice.

    • Pepperstone: This broker offers a wide range of trading instruments, low spreads, and fast trade execution speeds. They are also regulated by top-tier authorities such as the FCA and ASIC, which ensures that they are a trustworthy option.

    • IG: This broker offers a variety of trading instruments, competitive pricing, and a user-friendly trading platform. They are also regulated by top-tier authorities such as the FCA, which ensures that they adhere to strict financial regulations and are a safe and reputable broker.

    Is TriumphFX Safe or Scam?

    Based on the information provided on TriumphFX's website, as well as their regulatory status, it seems that TriumphFX takes measures to protect its clients' interests and promote a safe trading environment. They are licensed and regulated by reputable authorities, and have implemented several security measures to ensure the safety of its clients' funds, such as segregated accounts and negative balance protection. However, there have been some negative reviews from clients regarding withdrawal issues, which is a red flag.

    How are you protected?

    Protection Measure Detail
    Regulation BaFin and CYSEC
    Investor Protection Segregated client funds are separated from the firm's operational accounts. The clients' funds are kept in leading investment global banks.
    Negative Balance Protection Your live trading account balance is always protected from dipping into a negative status and TriumphFX will absorb the loss if it does.

    It's important to note that while TriumphFX takes steps to protect its clients, no broker can guarantee complete protection against all risks. Clients should always do their own research and carefully consider the risks involved in trading before making any investment decisions.

    Market Instruments

    TriumphFX offers investors a small range of trading instruments, including over 60 pairs of the most popular major currency pairs in the Forex market, minor currency pairs, exotic currency pairs, as well as precious metals such as gold and silver.

    forex and precious metals

    Accounts

    To meet the investment needs and trading experience of different investors, TriumphFX offers three different types of accounts, namely Classic Accounts, Gold Accounts, and Premium Accounts. The minimum deposit requirement is 100. The base currencies of the accounts are EUR, USD, and GBP, and the minimum trade lot size is 0.01. Demo accounts are also available.

    Account Types

    Leverage

    TriumphFX, as a Cyprus-regulated broker, offers the maximum trading leverage of up to 1:30 for retail clients. Traders can adjust the leverage according to their knowledge and experience, and professional clients can trade with a maximum leverage of up to 1:500.

    It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

    Spreads & Commissions

    All spreads with IMS FX are a floating type and scaled with the asset class. The minimum spread on the TriumphFX platform is 0.4 pips for EURUSD, 0.1 pips for EURGBP, 1.2 pips for GBPUSD, 0.8 pips for USDJPY, 1.7 pips for XAUUSD, and 1.7 pips for XAGUSD. It seems that there is no commission charged.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    TriumphFX 0.4 pips No
    XM 0.1 pips No
    Pepperstone 0.1 pips No
    IG 0.6 pips No

    Note: Spreads can vary depending on market conditions and volatility.

    Trading Platforms

    TriumphFX offers traders the flexibility to choose from the market-leading and widely acclaimed MT4 trading platform, as well as MT4 Windows, MT4 iOS, and MT4 Android. MT4 is known as the ideal forex trading platform with powerful charting and data analysis tools, an intuitive and clear interface, and support for EA intelligence. MT4 can develop suitable trading strategies for traders of different levels, helping traders to trade with ease.

    MT4 deail
    MT4 devices

    See the trading platform comparison table below:

    Broker Trading Platform
    TriumphFX MetaTrader4
    XM MetaTrader4, 5
    Pepperstone MetaTrader4, 5
    IG MetaTrader4, ProRealTime, L2 Dealer, IG Trading Platform

    All four brokers offer MetaTrader4 and have mobile, web, and desktop versions available. XM and Pepperstone also offer MetaTrader5, while IG has a wider range of trading platforms including ProRealTime, L2 Dealer, and its own IG Trading Platform.

    Trading Tools

    TriumphFX offers several trading tools designed to help traders stay informed and up-to-date with the latest market trends and developments. The economic calendar provides real-time updates on upcoming economic events and their potential impact on the markets, while the FX analysis and news section offers daily market commentary and analysis from TriumphFX's team of experts. These tools can be especially useful for traders who rely on fundamental analysis to make informed trading decisions.

    Additionally, TriumphFX offers access to a variety of technical analysis tools, including charting and indicators, that can be used to identify trading opportunities and potential market trends. Overall, TriumphFX's trading tools can be a valuable resource for traders looking to stay ahead of the markets and make more informed trading decisions.

    Deposits & Withdrawals

    TriumphFX supports clients by depositing and withdrawing funds to their investment accounts via Visa, MasterCard, Bank Wire, Neteller, and Skrill/Moneybookers.

    The minimum deposit amount is $/€/£100.

    No commissions are charged on deposits. For any deposit equivalent or above $500, TriumphFX will reimburse the Intermediary Bank Charges. Regardless however, all Local Bank Charges incurred by the sending bank will not be reimbursed. Your deposits will be processed within 2-3 business days from the day your funds are sent from your bank account. After confirmation of your deposits, your funds will be immediately credited into your trading account.

    Deposits

    Traders withdrawing funds via NETELLER and Skrill/Moneybookers pay 1% commission and while via VISA & MasterCard, the withdrawal fee is $3/€2/£2. For Bank Wire withdrawals, if your withdrawal amount is less than €1,000, the fees will be $30/€20/£25, and any above will be charge + 0.15%. All withdrawals are subjected to intermediary bank charges ranging from $25 to $75 per transaction. It will take 2-5 business days to process your request.

    Withdrawals

    TriumphFX minimum deposit vs other brokers

    TriumphFX Most other
    Minimum Deposit $/€/£100 $/€/£100

    TriumphFX Money Withdrawal

    In order to create a Withdrawal Request please:

    Step 1: Login to your trading account ( https://secured.triumphfx.com/login ) .

    Step 2: Go to the Withdrawals Section.

    Step 3: Click Create Withdrawal and choose the method you want to withdraw your Funds.

    Step 4: Fill in all the required fields.

    Step 5: Submit the web form.

    Customer Service

    TriumphFX offers customer support via phone, email, and online messaging. You can also follow this broker on social networks such as Facebook, Instagram and LinkedIn. Overall, the customer service of TriumphFX appears to be satisfactory.

    Customer Service

    Education

    TriumphFX offers a range of educational resources to help traders improve their trading knowledge and skills. These resources include Forex essentials and Forex glossary. Additionally, TriumphFX offers a demo account for traders to practice their trading strategies and get familiar with the platform before trading with real money. Overall, TriumphFX's educational resources can be a valuable asset for both new and experienced traders looking to improve their trading skills.

    Conclusion

    All in all, TriumphFX seems to be well-regulated, but there are numerous negative reviews from users. Many users have reported difficulties in withdrawing funds, and some have even accused TriumphFX of being an illegal Ponzi scheme. Despite offering attractive trading conditions, the high number of negative reviews and accusations of illegal activity should be a red flag for potential investors. It is important to thoroughly research any broker before investing and to exercise caution when dealing with TriumphFX.

    Frequently Asked Questions (FAQs)

    Q 1: Is TriumphFX regulated?
    A 1: Yes. It is regulated by BaFin and CYSEC.
    Q 2: Does TriumphFX offer industry-standard MT4 & MT5?
    A 2: Yes. TriumphFX supports MT4.
    Q 3: What is the minimum deposit for TriumphFX?
    A 3: The minimum initial deposit with TriumphFX is $/€/£100.
    Q 4: Is TriumphFX a good broker for beginners?
    A 4: No. It is not a good choice for beginners. There are too many negative reviews from their users saying that they have difficulty withdrawing.

    News

    The Historical & Costly Neglect of TriumphFX

    ExposureThe Historical & Costly Neglect of TriumphFX

    2023-12-26 18:01

    The Cypriot financial supervisory commission recently took action, suspending shareholder rights at TriumphFX, a regulated retail broker, due to management concerns. This involves Chong Chun Hseung, the sole indirect shareholder, and prior warnings from Asian regulatory bodies.

    WikiFX
    2023-12-26 18:01
    Exposure
    The Historical & Costly Neglect of TriumphFX
    TriumphFX Faces CySEC Action Over Shareholder Issues

    NewsTriumphFX Faces CySEC Action Over Shareholder Issues

    2023-12-22 16:13

    CySEC takes action against TriumphFX over shareholder concerns. Regulatory crackdown on investment firm. Protecting investors' interests.

    WikiFX
    2023-12-22 16:13
    News
    TriumphFX Faces CySEC Action Over Shareholder Issues
    Is TriumphFX Legit or Scam?!

    ExposureIs TriumphFX Legit or Scam?!

    2023-06-21 17:01

    In today's article, WikiFX will explore TriumphFX in depth, examining its features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service to help you decide whether to use this platform. Keep reading to find out more!

    WikiFX
    2023-06-21 17:01
    Exposure
    Is TriumphFX Legit or Scam?!
    Controversy Surrounds TriumphFX's Launch of Virtual Currency TFX

    NewsControversy Surrounds TriumphFX's Launch of Virtual Currency TFX

    2023-02-28 12:16

    TriumphFX's recent launch of a virtual currency called TFX. Critics have claimed that TFX is part of a Ponzi scheme, designed to prevent investors from withdrawing their funds. Additionally, the platform has been accused of engaging in continuous brainwashing to promote TFX as a long-term investment opportunity in various social media groups.

    WikiFX
    2023-02-28 12:16
    News
    Controversy Surrounds TriumphFX's Launch of Virtual Currency TFX

    User Reviews

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    User comment

    23

    Comments

    Write a review

    nerdy
    more than one year
    I just call my agent and asked about the investment and i would like to withdraw my fund and been told I can't, I was shock and asked why? mentioned money was hold by bank and the value dropped but as today USD rate went up and what's happening? I'm not sure who to talk to but I think need to have proper updates new to the investor, so that we know what's the plan for this platform and how can we withdraw the fund and when can we?
    2024-03-22 16:37
    Reply
    0
    0
    John59949
    more than one year
    Never try this Triumph FX, a notorious illegal broker. Been scammed by this broker two years ago and I would never forget how they stole my money and how they treated me!
    2023-02-27 12:23
    Reply
    0
    0
    大家好才是真的好90703
    more than one year
    TriumphFX is an outright liar, its so-called regulatory license is just a cover to cover him for deceiving.
    2023-02-16 10:15
    Reply
    0
    0
    100$
    more than one year
    1000
    2023-01-26 02:14
    Reply
    3
    0
    meerjanfazeerfazeer Fazeer Fazeer
    more than one year
    help us to be a good time to get the latest flash player is required for video playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped because this video i
    2023-01-09 14:30
    Reply
    0
    1
    Paul 1926
    more than one year
    It's heartbreaking to know people like this still exist and prey on the struggles of other people. I was scammed out of my investment by A3 trading and it was a terrible and mysterious time for me. God willing, I was able to recover back my money through the help of mr mason recovery company website on “ Globaltrader ecovery. ne t, And they were able to get My investment back to my account.
    2023-01-04 11:37
    Reply
    1
    2
    Billy Jane
    more than one year
    It's heartbreaking to find people talking about being scammed, I was involved in a similar scheme that knowingly conned innocent people with the promise of fortune after my payment and thanks to the agency that helped me. they could help you all if you file a case to Baseroute tech support on Skype “ live:.cid.abd3ae0a82fd2c30”for your refund.
    2022-12-21 04:39
    Reply
    0
    0
    Hans1146
    more than one year
    This is Scam now, can't do the withdrawal!
    2022-12-18 01:18
    Reply
    0
    0
    赵海霞
    more than one year
    I have traded with Dehui for many years. The good thing is that the service quality is good, very professional, and the foreign exchange transaction fee is low. The main problem is that it is very troublesome to withdraw money, it is not free, and it takes a long time, which is terrible.
    2022-12-15 18:21
    Reply
    0
    0
    瑄915
    more than one year
    I have been using this platform for about four months, and I have indeed received profits every month, and I have successfully withdrawn small sums of money, but in 2022/11 I was rejected for withdrawing large sums of money, because their platform wanted to send Token, and refused all users to withdraw money, and then forced all users' funds to be exchanged for their platform currency TFX, it is really bad. The highest price was only 0.85, and the funds were not 1:1 exchanged for their platform currency. Fortunately, the previous earnings on this platform were deducted. In the end, I didn’t lose any money, and I got the funds smoothly. The exchange rate of Taiwan dollar wire transfer on the platform is out of range and opaque. The US dollar exchange rate was 32 before. I received the money by wire transfer and they counted it as 31. There is no exchange rate display when withdrawing money. I will not reply to the customer service exchange rate question. I used the customer service in the past few months. I will return, but I haven’t returned for a month or two after that. USD wire transfer and USDT withdrawal are even worse. There is no money left for more than a month. I will be stuck for a very long time. Really don’t want to pay for 5-7% per month. It's not worth the risk that your principal may not be able to get your profits back
    2022-12-15 13:33
    Reply
    0
    0
    FX1159751706
    more than one year
    Was introduced by a friend and opened a standard account to trade currency pairs. I have been trading for a while, and I feel pretty good. There is no slippage, and the first withdrawal was processed in a timely manner. At present, I have made some profits, and I feel that this platform is still possible.
    2022-12-14 10:30
    Reply
    0
    0
    Jennifer 8255
    more than one year
    I haven't been able to withdraw my money for three weeks, it's boring
    2022-12-14 01:13
    Reply
    1
    0
    heureuse
    more than one year
    Now that the tfx currency has been changed, have you got your usdt?
    2022-12-13 19:17
    Reply
    2
    3
    FX1318527514
    more than one year
    I do not recommend you invest with this broker.It seems like a scam.File a complaint with r e f u n d b a c k ,,,,,,org if you got scammed. stay away from unregulated brokers.
    2022-12-01 01:12
    Reply
    0
    0
    Wayne3035
    more than one year
    Very poor forex company! Totally a scammer, the sole purpose is to lure you into depositing money and scam you out of your money! You can also see on this website that there are still many victims. Get away from this liar!
    2022-11-28 17:44
    Reply
    0
    0
    张晨晨、
    more than one year
    Trash broker! They stole my money and still refused to admit it. It has been more than half a month since I submitted the withdrawal application, and the withdrawal fund has not yet arrived in my account. I'm going crazy, why haven't these scammers been in jail yet?
    2022-11-27 12:10
    Reply
    0
    1
    wei1307
    more than one year
    In my opinion, Triumph FX may not be perfect, but it gave me reasonable returns. I’ve used this platform for three years, sometimes, its customer support staff took a long time to reply your inquiries. Overall, I recommend it, a reliable one among many brokers. 👍👍👍
    2022-11-25 18:54
    Reply
    0
    1
    dtoan
    more than one year
    can't withdraw
    2022-11-07 21:40
    Reply
    0
    1
    5308131747866151
    more than one year
    Use the edit icon to pin, add or delete clips.
    2022-10-13 04:37
    Reply
    1
    0
    5308131747866151
    more than one year
    http://apphtml.fxshare66.com/mobile/download?countryCode=116&languageCode=en&lang=en&currency=USD
    2022-10-13 04:33
    Reply
    4
    0
    29
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