TriumphFX Review

Category: Reviews | Author: Trading Brokers | Date: September 22, 2023

Finding a suitable broker can be a daunting and time-consuming process, as there are many factors to consider and compare. TriumphFX is an online broker that has been operating since 2010 and is regulated by various authorities in Cyprus, Vanuatu, and Seychelles. It offers forex and precious metals trading on the popular MT4 platform, as well as various account types, funding methods, and customer support options. However, is TriumphFX a good broker for you? How does it compare to other brokers in terms of fees, platforms, education, and markets? In this article, we will review TriumphFX in detail and give our honest opinion on whether it is a reliable and trustworthy broker to trade with.

Pros & Cons

  • Regulated by CySEC, which is a respected and EU-compliant regulator that ensures client fund protection and compliance with MiFID
  • Offers low spreads from 0.1 pips, high leverage up to 1:30, and fast execution speed of 0.1 seconds
  • Direct routing of transactions to liquidity providers (STP)
  • Copy trading, demo account, rebate reward system, proprietary mobile app, and high leverage up to 1:500
  • Also regulated by VFSC, which is an offshore regulator that may not have the same level of oversight and protection as CySEC or other more established regulators
  • Only offers forex and precious metals trading, and does not offer other markets such as indices, CFDs, or stocks
  • Has an offshore entity that may pose some risks and limitations for traders
  • Limited customer support, basic educational content, and withdrawal fees

Summary

TriumphFX Review

TriumphFX Review

Established in 2010 and regulated by various authorities in Cyprus, Vanuatu, and Seychelles, TriumphFX offers a reliable and secure platform for forex and precious metals trading. The broker’s dedication to providing a safe trading environment is evident in its account balance protection policy and segregated client funds. With a variety of account types, funding methods, and customer support options, traders can find the best fit for their needs and preferences.

The broker also provides access to the popular MT4 platform, which is known for its stability and fast execution. TriumphFX boasts low spreads from 0.1 pips and a wide range of trading instruments, including 64 currency pairs and metals. Additionally, the broker offers daily market analysis, webinars, and one-on-one market analysis sessions for its clients. Our review highlights TriumphFX’s strengths as a reputable and trustworthy broker for forex and precious metals trading, but as always, traders should be aware of the potential risks involved.

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Regulation

Exploring the background of TriumphFX, it emerges as a brand owned and operated by Triumph Int. (Cyprus) Limited, a company registered in Cyprus under the registration number HE 335424. This company is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is the financial regulatory agency of Cyprus and an EU member state. The license number of Triumph Int. (Cyprus) Limited is 293/16. This affiliation with CySEC holds significance, as this reputable regulator ensures compliance with the European MiFID financial harmonization law and protects client funds through the Investor Compensation Fund (ICF), which covers up to 20,000 EUR per client in case of broker insolvency.

However, a notable aspect unfolds as TriumphFX also has another entity offshore, based in Vanuatu, that it has not reported to CySEC. The offshore broker entity is Triumph Int. Limited, which is registered in Vanuatu under registration number 17901 and regulated by the Vanuatu Financial Services Commission (VFSC) under license number 17901. It is prudent to acknowledge that while the VFSC holds regulatory authority, its offshore nature and lax requirements may not match the rigorous standards and protective measures upheld by established regulators like CySEC.

This divergence in regulatory landscapes introduces an element of caution. Potential risks and uncertainties arise, especially in situations of conflict or disagreement between investors and TriumphFX. It is noteworthy that the terms and conditions of TriumphFX state that any disputes arising from their services shall be governed by and construed in accordance with the laws of Vanuatu and shall be subject to the exclusive jurisdiction of the courts of Vanuatu. This unique jurisdictional stance has the potential to limit recourse and options in the event of complications or grievances involving TriumphFX.

In light of these intricacies, potential traders are advised to proceed with awareness and a thorough understanding of the landscape, recognizing the interplay of regulations, responsibilities, and possible ramifications in their trading journey. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

TriumphFX offers its clients the popular MetaTrader 4 (MT4) trading platform, developed by the renowned MetaQuotes Software Corp., a leader in the financial software industry. The MT4 platform is a versatile and user-friendly tool for trading in forex and precious metals.

MT4 Platform

MT4 Platform

It allows traders to customize their trading environment with various charts, indicators, and expert advisors (EAs) for automated trading strategies. The MT4 platform can be accessed via desktop, web browser, or mobile devices, providing convenience and flexibility for TriumphFX’s clients.

In addition to the MT4 platform, TriumphFX also provides a range of tools and resources to enhance the trading experience, such as:

  • Daily Market Analysis: TriumphFX offers daily market analysis on its website, covering the latest trends and developments in the forex and precious metals markets. The analysis is provided by experienced professionals who use technical and fundamental analysis techniques to identify trading opportunities and risks.
  • Webinars: TriumphFX organizes regular webinars for its clients, covering various topics related to forex and precious metals trading. The webinars are conducted by experts who share their insights and tips on how to improve trading skills and strategies.
  • Market Analysis (1 vs 1): TriumphFX also offers one-on-one market analysis sessions for its clients, where they can get personalized feedback and guidance from a senior account manager. The sessions are tailored to suit the client’s needs and goals and can help them optimize their trading performance.
  • Economic Calendar: A comprehensive economic calendar is available on the TriumphFX website, showing the upcoming economic events and indicators that may affect the forex and precious metals markets. The calendar allows traders to filter by date, country, currency, impact, and category, and provides detailed information on each event.
  • Trading Calculators: TriumphFX introduces a variety of calculators on its website, catering to different trading needs. These include margin calculators, pip value calculators, swap calculators, profit calculators, and currency converters. These tools help traders to calculate trading costs and potential profits accurately.

Education

TriumphFX offers a range of educational resources to help traders improve their trading knowledge and skills. These resources include:

  • Forex Essentials: This section covers the basics of forex trading, such as what is forex, how to trade forex, how to read forex quotes, how to use leverage and margin, and how to manage risk.
  • Forex Glossary: This section provides definitions and explanations of common forex terms, such as ask price, bid price, spread, pip, lot, swap, slippage, and more.
  • Demo Account: TriumphFX offers a demo account for traders to practice their trading strategies and get familiar with the platform before trading with real money. The demo account has the same features and functions as the live account, except that it uses virtual funds.

In addition to these web-based resources, TriumphFX also organizes regular webinars for its clients, covering various topics related to forex and precious metals trading. The webinars are conducted by experts who share their insights and tips on how to improve trading skills and strategies. Some of the topics covered in the webinars are:

  • Introduction to Forex Trading
  • Technical Analysis for Beginners
  • Fundamental Analysis for Beginners
  • Trading Psychology for Beginners
  • How to Use the MT4 Platform

TriumphFX’s educational resources and webinars are designed to equip traders with the essential knowledge and skills to trade forex and precious metals confidently and successfully.

Markets

TriumphFX offers its clients the opportunity to trade in two major markets: forex and precious metals. These markets are among the most liquid and volatile in the world, offering traders the potential to profit from price movements and diversify their portfolios.

  • Forex: The forex market is the largest and most active financial market in the world, with an average daily turnover of over 6 trillion USD. Forex trading involves buying and selling currencies against each other, such as EUR/USD, GBP/JPY, or AUD/NZD. Forex traders can benefit from the fluctuations in exchange rates caused by various economic, political, and social factors. TriumphFX provides access to over 60 currency pairs, including majors, minors, and exotics. The broker also offers low spreads from 0.1 pips, high leverage up to 1:500, and fast execution speed of 0.1 seconds.
  • Precious Metals: The precious metals market is another popular choice for traders who want to hedge against inflation, currency devaluation, or geopolitical risks. Precious metals such as gold and silver have intrinsic value and are considered safe-haven assets in times of uncertainty. TriumphFX allows its clients to trade gold and silver against the US dollar or the euro, such as XAU/USD, XAG/EUR, or XAU/EUR. The broker also offers competitive spreads and leverage for precious metals trading.

Accounts

TriumphFX offers its clients three types of accounts to choose from, depending on their trading preferences and goals. These are:

  • Classic Account: This is the most basic account type, suitable for beginners and casual traders who want to trade with low spreads and no commissions. The minimum deposit for this account is 100 EUR/USD/GBP, and the leverage is up to 1:30. The minimum lot size is 0.01, and the spreads start from 0.1 pips. The classic account allows trading in 64 currency pairs and metals.
  • Gold Account: This is an upgraded account type, designed for more experienced and active traders who want to enjoy lower spreads and higher leverage. The minimum deposit for this account is 500 EUR/USD/GBP, and the leverage is up to 1:30. The minimum lot size is 0.01, and the spreads start from 0.1 pips. The gold account allows trading in 64 currency pairs and metals and also offers daily market analysis, webinars, and one-on-one market analysis sessions.
  • Premium Account: This is the most advanced account type, tailored for professional and high-volume traders who want to access the best trading conditions and services. The minimum deposit for this account is 10,000 EUR/USD/GBP, and the leverage is up to 1:30. The minimum lot size is 0.01, and the spreads start from 0.1 pips. The premium account allows trading in 64 currency pairs and metals and also offers daily market analysis, webinars, one-on-one market analysis sessions, personal account manager, priority withdrawal processing, and VIP customer support.

Funding

TriumphFX offers a variety of payment methods for depositing and withdrawing funds from trading accounts. These include:

  • Credit/Debit Cards: Visa and Mastercard are accepted for both deposits and withdrawals. The minimum deposit and withdrawal amount is $100, and the maximum withdrawal amount is up to the total amount that was deposited. There is no commission for deposits, but there is a $3 commission for withdrawals. The processing time is the same business day.
  • E-Wallets: Neteller and Skrill are supported for both deposits and withdrawals. The minimum deposit and withdrawal amount is $100, and the maximum withdrawal amount is $12,000. There is no commission for deposits, but there is a 1% commission for withdrawals. The processing time is the same business day.
  • Bank Wire: Bank wire transfers are available for both deposits and withdrawals. The minimum deposit and withdrawal amount is $100, and the maximum withdrawal amount is $12,000. There is no commission for either deposits or withdrawals. The processing time is up to 3-5 days.

To make a transaction, log in to your TriumphFX account and go to the “Funding” section. Here, you can select your preferred payment method and follow the instructions on the screen. The processing time may vary depending on the method and bank involved.

Conclusion

In summary, TriumphFX is an online broker that offers forex and precious metals trading on the MT4 platform. The broker is regulated by various authorities in Cyprus, Vanuatu, and Seychelles, and provides low spreads, high leverage, and fast execution. The broker also offers a range of account types, funding methods, and customer support options, as well as daily market analysis, webinars, and one-on-one market analysis sessions. However, TriumphFX does not offer other markets such as indices, CFDs, or stocks, and has an offshore entity that may pose some risks and limitations for traders. Therefore, traders should be aware of the pros and cons of trading with TriumphFX and compare it with other brokers that have more experience and reputations in the industry. For more choices, we recommend you to check out our trading broker reviews.

TriumphFX Logo

$100

TriumphFX is an online broker that offers forex and precious metals trading on the MT4 platform. The broker is regulated by CySEC and VFSC, and provides low spreads, high leverage, and fast execution. The broker also offers a range of account types, funding methods, and customer support options, as well as daily market analysis, webinars, and one-on-one market analysis sessions.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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