TriumphFX

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

TriumphFX, a trading name of Triumph Int. (SC) Limited, is allegedly a forex broker incorporated in the Republic of Seychelles with registration number 8428698-1 and offshore regulated by the Financial Services Authority (FSA) with license number SD080. The broker claims to provide its clients with some tradable assets with leverage up to 1:500, fixed and floating spreads from 0.5 pips on the WebTrader, MT4 and mobile trading platforms, as well as a choice of seven different account types.

Here is the home page of this brokers official site:

Note: The screenshot date is February 7, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

TriumphFX advertises that it mainly offers three different asset classes in financial markets, including forex, commodities and indices.

Account Types

Apart from demo accounts, there are seven live trading accounts offered by TriumphFX, namely Standard Fixed, Standard Variable, Islamic Variable, Premium, Islamic Premium, Platinum and VIP. Opening a Standard Fixed, Standard Variable or Islamic Variable account requires the minimum initial deposit amount of $100, while the other four account types have much higher minimum initial capital requirements of $500, $2,000, $2,000 and $5,000 respectively.

Leverage

A leverage ratio of up to 1:500 is offered by TriumphFX, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads & Commissions

TriumphFX claims that different account types can enjoy quite different spreads. In particular, the Standard Fixed account has a fixed spread of 1.6 pips; while the Standard Variable and Islamic Variable accounts have variable spreads of 1.6 pips; the clients on the Premium, Islamic Premium and Platinum accounts can experience variable spreads from 0.6 pips and only the VIP account can enjoy the lowest variable spreads from 0.5 pips.

As for commissions, the Premium account will be charged a commission of $6; while the commission for the Islamic Premium account is $3, and the other account types with no commission.

Trading Platform

Platforms available for trading at TriumphFX are WebTrader, MetaTrader4 (web, desktop and mobile) and mobile apps. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Trading Hours

TriumphFX also reveals the table of trading hours on its official site. From the table, we found we can choose the instrument and the time zone, thus finding the right trading hours.

Deposit & Withdrawal

TriumphFX accepts numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, Alipay, Online Banking, UnionPay and Tether.

The minimum initial deposit requirement is said to be $100. The broker waives the Intermediary Bank Charge for Telegraphic Transfers and Wire Transfers if the amount transferred is over a certain amount. TriumphFX will reimburse you up to $70 for the Intermediary Bank Charges for deposits equivalent to or above $500. There will, however, be no reimbursement for the sending bank's Local Bank Charges. From the day your funds are sent from your bank account, the deposits will be processed within 2-3 business days. Your trading account will be credited immediately with the funds once the deposits have been confirmed.

As for withdrawals, they will take 2-5 business days to process. Depending on the withdrawal amount, intermediary bank fees range from $25 to $75.

Customer Support

You can follow TriumphFX on some social media platforms such as Facebook, Instagram and LinkedIn. However, this broker doesnt disclose other more direct contact information like telephone numbers, email or the company address that most brokers offer.

Pros & Cons

Frequently Asked Questions (FAQs)