TriumphFX is predominantly a forex trading broker that supplies traders around the globe with competitive trading conditions through the user-friendly MetaTrader 4 (MT4) platforms for desktop, web and mobile devices (iOS & Android). This includes tight spreads, rapid trade execution speeds and low fees. They also offer daily market analysis along with a variety of trading account types and convenient funding options.
TriumphFX Review, Pros & Cons
- Regulated broker
- Easy to use MetaTrader 4 platform
- No dealing desk (NDD) interference
- Equinix Data Centers
- Daily market analysis
- Educational materials
- Various account types
- Various deposit/withdrawal methods
- Competitive commission fees
- Tight spreads & rapid execution speeds
- Islamic accounts
- No USA traders
- Limited non-FX trading instruments
In this detailed TriumphFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
TriumphFX is an online broker that provides financial and investing services to a global clientele. They are committed to establishing long term relationships with their clients and continuously strive to offer competitive brokerage services to traders from all different backgrounds, thus helping to make the markets accessible to everybody.
The broker offers online forex trading to retail and institutional clients, with a multi-bank liquidity feed to help ensure they can deliver reliable trade execution speeds and tight spreads, along with the flexible leverage options that they have available.
The trading infrastructure is hosted in top-notch Equinix’s Data Centers which are designed to be resilient to comply with the requirements of the financial industry. Both of their live primary trade server and failover primary trade server are hosted in data centers which are equipped with state-of-the-art hardware at each level: application servers, storage solutions, network devices, dedicated fiber connections and redundant ISP connectivity. Each of the data center setups is fully owned and designed with the focus on real time applications, enabling TriumphFX to offer their clients a secure, redundant and low latency environment.
TriumphFX combines straight-through processing (STP), non-dealing desk (NDD) execution, electronic communication networks (ECN) and stable high-quality price feeds from some of the largest financial institutions. When you execute a trade position, it goes directly to one or more of the brokers liquidity providers (LPs) based on who provides the best price for the requested volume at that time. They claim to have no dealers sitting between broker and trader to interfere with trades but then they do also offer fixed spread accounts which is usually utilised by a brokerage that incorporates a market maker model.
The broker has won numerous awards from the brokerage industry including the Most Reliable Forex Broker of the Year 2017 at the 21st International Investment & Financial Expo 2017 and Unity Forex, Best Execution Broker Asia Pacific Award 2014.
TriumphFX is regulated by the Cyprus Securities and Exchange Commission (CySec) for its operations in Europe. CySEC has the following responsibilities: To supervise and control the operation of the Cyprus Stock Exchange and the transactions carried out in the Stock Exchange, its listed companies, brokers and brokerage firms. A regulated broker can help to give clients the peace of mind that they are trading with a broker who must abide by strict rules and regulations that are implemented in order to help protect investors.
TriumphFX is also registered with the Vanuatu Financial Services commission as one of the regulated financial services providers. The Commission is responsible for the regulation and supervision of investment business and trust and company service providers.
As a regulated broker, TriumphFX must keep all of their client funds in fully segregated accounts that are separate from the brokers assets and distributed across world renowned Tier 1 independent banks. They state that each bank they use must hold an investment grade rating and meet stringent criteria. These client’s funds should not be used for any other purposes such as business running costs, other investments or paying off creditors. TriumphFX periodically evaluates, identifies, monitors and controls each and every type of risk associated with its operation to help try and safeguard the funds of their clients.
TriumphFX welcomes clients from all over the globe but cannot accept traders from the USA and governmental restrictions along with the brokers policies prohibit them from opening accounts originated from the following restricted and/or OFAC sanctioned countries: Afghanistan, Botswana, Cote d’Ivoire (Ivory Coast), Cuba, Egypt , Gambia, Ghana, Guinea Bissau, Guinea Conakry, Iraq, Iran, Kyrgyzstan, Lesotho, Liberia, Libya Mali, Niger, North Korea, Russia, Senegal, Sierra Leone, Somalia, Syria, Tajikistan, Togo, Turkmenistan, The Democratic Republic of Congo The former Liberian Regime of Charles Taylor, Uzbekistan, Yemen, and Zimbabwe.
Some TriumphFX broker features and products mentioned within this TriumphFX review may not be available to traders from specific countries due to legal restrictions.
MetaTrader 4 (MT4)
TriumphFX provide clients with the popular MT4 trading platform that is used by millions of traders all around the globe. It is widely regarded as one of the most user-friendly platforms that is fully customisable and has an abundance of built-in tools for an efficient trading experience. It has a short learning curve which makes it a common choice amongst beginners whilst it is also capable of advanced functionalities to satisfy the more experienced investor.
The TriumphFX MT4 platform can run on desktop (Windows/MAC), directly in web browser without any installations or via mobile apps for Android and iOS devices. This makes it convenient for those who need to access their account and trade whilst on the move. Some of the key MT4 platform features are:
- Fully customisable user-friendly interface
- Displays live bid/ask price quotes in the market watch window
- Multiple chart timeframes/types
- Supports multiple order types
- Vast choice of built-in tools for analysing charts in detail
- Fully automated trading with expert advisors (EAs)
- Strategy tester that can back test EAs over historical data
- MQL community where users can share ideas & tools
- MetaEditor interface where you can create customised tools
- Price alert notifications can be set via SMS, email & platform pop-ups
- Available for desktop, web & mobile
TriumphFX Trading Tools
Unfortunately, TriumphFX do not provide clients with any additional trading tools although the MT4 platforms are likely to have more than enough tools to meet the needs of even the most demanding of retail traders. It may be beneficial to some users if the broker were to add trading calculators, sentiment analysis, etc.
Forex Trading Guides
On the TriumphFX website you will find a section dedicated to explaining some of the essential’s of forex trading. This could be useful for beginner traders who are looking to improve their trading skills and knowledge. A range of topics are covered from an introduction to forex traing, trading strategies, trading psychology, chart types and more.
There is a forex glossary page on the brokers website that displays some of the most important terms related to forex trading along with laymen definitions of each.
The forex calendar chronologically shows upcoming economic and political events, statistics and analytics. It provides traders and analysts with the information needed to help them anticipate the potential long-term trends and currency quotes. You can see key data for the fundamental economic indicators: central bank rates, the dynamics of GDP, inflation, employment and many other important news items. Each forex rate depends on the state and prospects of each national economy, its current political situation, ongoing large-scale speculative operations, and many other fundamental factors. Currency rates and financial markets in general are very sensitive to these events. Using this data can help to make informed trading decisions and avoid unnecessary financial losses related to economic or political changes.
The broker provides an impressive daily market analysis for selected instruments. Each analysis goes into details about the current price movements and includes annotated screenshots.
TriumphFX currently only offers Forex and Precious Metals trading. They do not offer any Indices or Stocks which gives them a very limited product range when compared to many other brokers, some of whom offer thousands of trading instruments across multiple asset classes. You may view our best online brokers for some alternative brokerages that have a broader range of trading products available.
- Forex: Over 60 currency pairs including FX majors, minors and exotics
- Precious Metals: Trade Gold and Silver against the USD
TriumphFX Accounts & Fees
TriumphFX have accounts with a minimum deposit requirement of $100 and leverage from 1:1 up to 1:500. From Standard to VIP accounts, they provide a trading account for different trader’s needs. There are commission free accounts with marked-up spreads or accounts with lower spreads but a competitive commission charge. You may want to consider the account that is more suited to your trading strategy. E.g. A trader who scalps the market for a few pips may require the account with the lowest spreads available.
- $100 minimum deposit
- Fixed spreads from 1.6
- No commission
- 1:500 leverage
- $100 minimum deposit
- Variable spreads from 1.6
- No commission
- 1:500 leverage
- $500 minimum deposit
- Variable spreads from 0.6
- Commission from $6 per lot
- 1:500 leverage
- $2,000 minimum deposit
- Variable spreads from 0.6
- Commission from $3 per lot
- 1:500 leverage
- $5,000 minimum deposit
- Variable spreads from 0.5
- No commission
- 1:500 leverage
Demo practice trading accounts are available where you can test your trading strategies risk free with unlimited virtual money. The demo account uses real quotes streaming directly from the liquidity providers (LPs). However, demo trading does not always take into account the trader’s psychology and emotions such as fear, greed and anger. These can all have an impact on live trading.
Muslims can start trading without commission and overnight swap charges with TriumphFX as they provide swap free Islamic accounts. The Islamic account allows Muslim traders to trade without paying/earning swap or rollover interest, as this is against the Islamic beliefs. Moreover, traders get to trade under the same trading conditions with the Islamic Variable or Islamic Platinum account.
You can contact TriumphFX support via telephone, email and an online form. We found them to be very efficient with their responses to the various questions that we put forward to them.
TriumphFX Deposit & Withdrawal
TriumphFX have a variety of convenient methods for depositing and withdrawing funds from your trading account including Wire Transfer, Credit/Debit Cards, Neteller, Skrill, UnionPay. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
Your deposits and withdrawals will be processed within 2-5 business days from the day your funds were sent from your bank account. After confirmation of your deposits, your funds will be immediately credited into your trading account. For any deposit of $500 or above, TriumphFX will reimburse the intermediary bank charges up to a maximum of $70.
All international bank wire transfers may be subjected to intermediary bank charges. The charges are determined by your bank. All costs incurred will be at the expense of the client. Transfers from third parties are not accepted. Funds that are not accepted are returned to the sender. All fees charged by intermediary banks or receiving banks in the transaction will be automatically deducted from your withdrawal amount by the relevant bank.
As broker fees can vary and change, there may be additional fees that are not listed in this TriumphFX review. It is imperative to ensure that you check and understand all of the latest information before you open a TriumphFX broker account for online trading.
TriumphFX Account Opening
If you would like to open a live trading account with this broker then you will need to complete the short registration form on their website. You will need to provide some personal information and proof of identity/address in order to get an account approved. Once your account has been verified by a member of the accounts team, you will be able to fund it, download the trading platforms and commence trading online. It should be noted that you must read all of the brokers terms and conditions before proceeding and only do so if you clearly understand and agree with them all.
What is the TriumphFX minimum deposit?
The minimum deposit required by TriumphFX is $100. This is the amount that you need to deposit in order to open a live trading account to start trading online with the broker.
How do I deposit money into TriumphFX?
TriumphFX accept account deposits via bank transfer, credit/debit card and e-Wallets including Neteller and Skrill.
What are the TriumphFX deposit fees?
TriumphFX charge a small fee depending on the deposit method used. However, they can waiver the fee if you deposit over a specific amount.
How do I withdraw money from TriumphFX?
You can withdraw funds from TriumphFX using the same methods as for making deposits. You can choose from bank transfer, credit/debit card and online payment processors such as Neteller or Skrill.
What are the TriumphFX withdrawal fees?
TriumphFX withdrawals are subjected to intermediary bank charges ranging from 25 USD to 75 USD per transaction.
What is the TriumphFX commission fee?
The TriumphFX commission fee depends on the account type that you choose. They have commission free accounts with marked-up spreads and commission-based accounts ranging from $3 – $6 commission per standard lot. Generally speaking, the more you deposit and larger your trading volume, the lower the spreads and commission you can receive.
Are there any TriumphFX inactivity fees?
Yes, TriumphFX have an inactivity fee of $5 per month after 12 months of no trading activity.
What are the TriumphFX account types?
TriumphFX have a choice of 5 trading account types, the main differences between them being the minimum deposit requirement, spreads and commission fee. You can choose from the standard fixed, standard variable, premium, platinum and VIP accounts.
Is there a TriumphFX demo account?
Yes, there are TriumphFX demo accounts which are provided free of charge and allow you to practice trading online risk free by using virtual funds.
What are the TriumphFX spreads?
TriumphFX offer fixed spreads from 1.6 and variable spreads from 0.5. Keep in mind that whilst the fixed spreads are higher, these accounts do not incur any commission fee. The type of account type that you opt for, can depend on your trading strategy. E.g. A trader using a scalping strategy that relies on a consistent spread, may prefer the fixed spread account.
What is the TriumphFX leverage?
TriumphFX leverage goes up to 1:500. Leverage allows you to enter a larger position size but can also increase your overall risk exposure along with potential profit.
Leverage is expressed as a ratio, for example if your leverage is 1:500, this means that you can hold a position that is the 500 times the value of your trading account. E.g. If your account had a balance of $100, you could take a position size of $50,000 ($100 account x 500 leverage).
What are the TriumphFX margin & stop-out levels?
The TriumphFX Margin Call Level is 50% and Stop Out Level is 20%.
Do TriumphFX allow hedging, scalping & expert advisors?
Yes, TriumphFX do not have any restrictions on trading strategies.
Is there a TriumphFX Islamic account?
Yes, TriumphFX offers Islamic swap-free accounts. The swap free account or Islamic account allows Muslim traders to trade without paying/earning swap or rollover interest, as this is against the Islamic beliefs. Moreover, traders get to trade under the same trading conditions with the Islamic Variable or Islamic Platinum account.
What are the TriumphFX trading instruments?
TriumphFX offer contract for differences (CFDs) on Forex and Precious Metals. A contract for difference (CFD) is a popular form of derivative trading. CFD trading enables you to speculate on the rising or falling prices of an underlying asset without actually taking physical ownership.
How do I open a TriumphFX live account?
To open a TriumphFX account, you can complete the application form by clicking “live account” on the TriumphFX website.
How do I verify my TriumphFX account?
You can verify your TriumphFX account by providing the following:
- Proof of identity (passport, drivers licenses, national identity card, etc)
- Proof of address (utility bill or bank statement no more than 3 months old)
What is the TriumphFX trading platform?
TriumphFX supply clients with the industry standard MetaTrader 4 platform which is the platform of choice for millions of forex traders around the globe. It is well known for its user-friendly interface and versatility, making it a popular trading platform for users of all experience levels.
Where can I download the TriumphFX platform?
You can download the MetaTrader 4 platform from the TriumphFX website or get the MetaTrader app from the app store on your iOS/Android device.
Where is TriumphFX located?
TriumphFX was founded in 2016 and is based in Cyprus.
Is TriumphFX regulated?
Yes, TriumphFX is regulated by the Cyprus Securities and Exchange Commission (CySEC) and Vanuatu Financial Services Commission (VFSC).
What countries do TriumphFX accept?
TriumphFX services are not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation, including the USA and some OFAC sanctioned countries.
Is TriumphFX a scam?
No, we do not believe TriumphFX is a scam. They are a regulated broker that has been providing competitive trading services since 2016.
How can I contact TriumphFX support?
The TriumphFX customer support team can be reached via email, telephone and by completing an online contact form.
TriumphFX is a regulated broker with competitive trading conditions, although the overall product range and services from TriumphFX are limited when compared with the best online brokers. They do have a generous selection of forex currency pairs to trade on the user-friendly MT4 platform but instruments from other asset classes are lacking. There are some educational materials which beginners may find useful and also daily market analysis to help inspire trade ideas. They also have a range of account types and deposit/withdrawal methods to cater to the different needs of individual traders around the globe.
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds. Before deciding to trade the products offered by TriumphFX you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin.