Score
Seychelles
|
2-5 years
| https://www.tfxi.sc/en
Website
Rating Index
Influence
D
Influence index NO.1
Indonesia 2.34
LicensesLicensed Entity：Triumph Int. (SC) Limited
License No. SD080
Seychelles
Malaysia
tfxi.sc -- Malaysia
VIP is not activated.| Feature | Information |
| Registered Country/Region | Seychelles |
| Regulation | Offshore regulated by FSA |
| Market Instrument | forex, commodities and indices |
| Account Type | Standard Fixed, Standard Variable, Islamic Variable, Premium, Islamic Premium, Platinum and VIP |
| Demo Account | Yes |
| Maximum Leverage | 1:500 |
| Spread | 0.5-0.6pips |
| Commission | From 0 commission to 6 USD |
| Trading Platform | WebTrader, MetaTrader4, Mobile Apps |
| Minimum Deposit | $100 |
| Deposit & Withdrawal Method | Visa, MasterCard, Alipay, Online Banking, UnionPay and Tether |
TriumphFX, a trading name of Triumph Int. (SC) Limited, is allegedly a forex broker incorporated in the Republic of Seychelles and offshore regulated by the FSA. However, it has been listed as a scam broker on WikiFX and has faced multiple complaints.
TriumphFX offers market instruments such as forex, commodities, and indices for trading. It provides several account types, including Standard Fixed, Standard Variable, Islamic Variable, Premium, Platinum, and VIP accounts.The platform offers leverage of up to 1:500, higher than the industry average. Traders can access TriumphFX through various trading platforms, including a web trader, MetaTrader 4, and mobile apps for Android and iOS devices.
Here is the home page of this brokers official site:
| Pros | Cons |
| Offers trading in forex, commodities, and indices | Flagged as a scam broker by WikiFX |
| Multiple account types available | Operates as a pyramid scheme |
| Leverage ratio of up to 1:500 | Numerous complaints filed against the platform |
| Offers various trading platforms | Offshore regulation with potentially lower investor protection |
| Provides educational resources and trading tools | Lack of transparency regarding direct contact information and customer support availability |
Based on the information provided, TriumphFX is regulated by the Seychelles Financial Services Authority (FSA) under a Retail Forex License. The license number is SD080, and the licensed institution is Triumph Int. (SC) Limited. The regulatory agency responsible for overseeing TriumphFX is the Seychelles FSA.
TriumphFX offers three main market instruments for trading:
1. Forex: TriumphFX provides access to the foreign exchange market, allowing traders to trade currency pairs. Forex trading involves buying one currency while simultaneously selling another, aiming to profit from the fluctuations in exchange rates.
2. Commodities: TriumphFX offers trading opportunities in commodities. Commodities are raw materials or primary agricultural products that can be bought and sold in the market. Examples of commodities include gold, silver, crude oil, natural gas, wheat, corn, and coffee.
3. Indices: TriumphFX allows traders to trade indices. An index represents a basket of stocks or securities that represent a specific market or sector. Trading indices involves speculating on the price movements of the index itself rather than individual stocks. Popular indices include the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, and FTSE 100.
TriumphFX offers several account types with different features:
Standard Fixed Account:
The Standard Fixed account offered by TriumphFX requires a minimum deposit of 100 USD. It features a fixed spread type with a typical spread of 1.6 pips for EURUSD. Swap charges are applicable, while there are no commission charges. Traders can leverage up to 1:500 with this account.
Standard Variable Account:
With a minimum deposit of 100 USD, the Standard Variable account provides traders with a floating spread type. The typical spread for EURUSD is 1.6 pips. Similar to the Standard Fixed account, swap charges apply, and there are no commission charges. Traders can leverage their positions up to 1:500.
Islamic Variable Account:
For traders seeking an Islamic trading account, TriumphFX offers the Islamic Variable account. The minimum deposit requirement is 100 USD, and it features a floating spread type with a typical spread of 1.6 pips for EURUSD. Unlike the previous accounts, this account does not charge swap fees or commission charges. Traders can still access leverage of up to 1:500.
Premium Account:
The Premium account is designed for traders who can meet a higher minimum deposit of 500 USD. It offers a floating spread type with a typical spread of 0.6 pips for EURUSD. Swap charges are applicable, and a commission fee of 6 USD is charged per trade. Traders can leverage their positions up to 1:500 with this account.
Platinum Account:
With a minimum deposit requirement of 200 USD, the Platinum account offers traders a floating spread type. The typical spread for EURUSD is 0.6 pips. Swap charges apply, and a commission fee of 3 USD is charged per trade. Traders can leverage their positions up to 1:500.
Islamic Platinum Account:
The Islamic Platinum account caters to traders who prefer an Islamic trading account with no swap charges. It requires a higher minimum deposit of 2,000 USD. This account features a floating spread type with a typical spread of 0.6 pips for EURUSD. There are no commission charges, and traders can leverage up to 1:500.
VIP Account:
The VIP account is designed for high-net-worth traders, requiring a minimum deposit of 5,000 USD. It offers a floating spread type with a typical spread of 0.5 pips for EURUSD. Swap charges are applicable, while there are no commission charges. Traders can leverage their positions up to 1:500 with this account.
To open an account with TriumphFX, please follow these steps:
1. Visit the TriumphFX website.
2. On the home page, locate the “Register” or “Open Account” button and click on it.
3. You will be directed to the registration form.
4. Fill in the required information, including your name, nationality, email address, and phone number.
5. Choose your country code and enter your phone number.
6. Review the terms and conditions, privacy policy, and any other relevant agreements.
7. If you agree to the terms, check the appropriate box to indicate your consent.
8. Click on the “Submit” or “Register” button to complete the registration process.
By completing the registration form and agreeing to be contacted, you acknowledge that you may receive newsletters from TriumphFX.
After successfully registering, you will likely receive further instructions via email regarding the next steps to verify your account and fund it in order to start trading. It's important to carefully review all the information provided during the registration process.
A leverage ratio of up to 1:500 is offered by TriumphFX, which is much higher than that provided by most brokers.
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.
TriumphFX offers multiple trading platforms, including:
2. MetaTrader 4: MetaTrader 4 is a popular trading platform widely used in the Forex industry. It offers flexibility as you can trade on the web, desktop, or mobile devices. You can simply log in with your TriumphFX account to access the platform. MetaTrader 4 provides a user-friendly interface and supports an unlimited number of charts and over 50 analytical tools.
3. Mobile Apps: TriumphFX offers a mobile app for smartphones and tablets, available for both Android and iOS devices. With the mobile app, you can manage your trading account on the go. It provides convenience and allows you to perform actions easily from your mobile device. The mobile app offers features such as checking your account balance, transferring funds between accounts, and accessing support tickets.
TriumphFX offers a range of options for depositing and withdrawing funds, including Visa, MasterCard, Alipay, Online Banking, UnionPay, and Tether.
The minimum initial deposit requirement is $100. If the amount transferred through Telegraphic Transfer or Wire Transfer is above a certain threshold, TriumphFX waives the Intermediary Bank Charge. For deposits equivalent to or above $500, TriumphFX reimburses up to $70 for Intermediary Bank Charges. However, the broker does not reimburse the Local Bank Charges imposed by the sending bank. Deposits are typically processed within 2-3 business days from the day the funds are sent from the bank account. Once the deposits are confirmed, the trading account is credited with the funds.
Withdrawals take 2-5 business days to process. Depending on the withdrawal amount, there may be intermediary bank fees ranging from $25 to $75.
TriumphFX offers three trading tools to assist traders in their decision-making process:
1. Economic Calendar: The economic calendar provided by TriumphFX displays upcoming economic and political events, as well as statistics and data releases. These events and data releases are significant as they provide insights into the performance of global economies based on macroeconomic data such as GDP, employment, consumption, and inflation. This information can impact the performance of currencies. Notable data releases, such as the Non-farm Payroll, are particularly influential. The economic calendar helps traders stay informed about scheduled data releases and their potential impact on the market.
2. Daylight Saving Time: Daylight Saving Time (DST), also known as Summer Time, is a time adjustment observed in certain regions. During DST, clocks are set forward by one hour in the spring and set back by one hour in the autumn to return to Standard Time, also known as Winter Time. DST aims to make better use of daylight during the summer season, which has longer daylight hours. Traders should be aware of DST as it can affect trading hours. Understanding the timing adjustments during DST is important for managing trading activities effectively.
3. Nonfarm Payrolls: Nonfarm payrolls (NFP) is a significant economic indicator released by the United States. It measures the number of job creations excluding the agricultural industry. The actual data release reflects changes in employment levels. For example, a positive actual release indicates job additions, while a negative release suggests job losses. NFP is released monthly, usually on the first Friday of every month. It is one of the most eagerly anticipated news releases and has a substantial impact on the Forex market. Traders often observe increased market volatility surrounding the NFP release.
These trading tools provided by TriumphFX aim to assist traders in staying informed about important economic events, managing their trading activities during DST, and staying updated on influential economic indicators like Nonfarm Payrolls.
TriumphFX offers three educational resources to assist traders in their Forex trading journey:
1. Forex Basic: This resource provides an introduction to Forex trading and covers essential topics to help beginners get started. It covers a range of subjects, including the history of retail Forex trading, technical aspects of trading, risk management, and trading psychology. By going through the Forex Basic material, traders can gain a foundational understanding of the key concepts and principles involved in the world's largest financial market.
2. Forex Glossary: The Forex Glossary provided by TriumphFX offers a comprehensive list of commonly used terms and definitions in the Forex industry. This resource serves as a reference guide to help traders familiarize themselves with the specific terminology used in Forex trading. It can be particularly useful for new traders who may encounter unfamiliar terms and want to enhance their understanding of the Forex market.
3. Market Analysis Forex Basic: This educational resource focuses on market analysis in Forex trading. It covers different types of analysis, including fundamental analysis and technical analysis. Traders can learn about the importance of analyzing economic indicators, news events, and charts to make informed trading decisions. This resource aims to equip traders with the knowledge and skills necessary to conduct market analysis effectively.
Traders can reach out to TriumphFX by sending an email to their support address: support@tfxi.com.
In conclusion, there are several concerning factors to consider. The platform has been flagged as a Ponzi scheme and listed as a scam broker on WikiFX due to multiple complaints. While TriumphFX offers low spreads and a high leverage ratio, the lack of transparency in contact information and limited customer support options are significant disadvantages.
| Q 1: | Is TriumphFX regulated? |
| A 1: | Yes. It is regulated by The Seychelles Financial Services Authority (FSA). |
| Q 2: | At TriumphFX, are there any regional restrictions for traders? |
| A 2: | Yes. TriumphFX does not service the US and entities or residents of any kind. While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit TriumphFX from opening accounts originating 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. |
| Q 3: | Does TriumphFX offer demo accounts? |
| A 3: | Yes. |
| Q 4: | Does TriumphFX offer the industry-standard MT4 & MT5? |
| A 4: | Yes. TriumphFX supports WebTrader, MetaTrader4 and mobile apps. |
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TriumphFX is under scrutiny with multiple regulatory warnings and fraud investigations worldwide. Stay informed on its license status and avoid potential scams.
Very often many traders get curious when they hear that the forex market has the largest amount of capital investment in the world with over 6.2 Trillion dollars invested and roughly 1.5 Trillion dollars traded daily. Some pause to argue where these large capitals come from. To this end, we have discussed extensively in the article, the major sources of the Capital traded in the forex market today.
TriumphFX offers various trading account types with different fees and spreads. For example, the Standard Fixed account has a fixed spread of 1.6 pips on the EUR/USD pair, while the VIP account offers spreads from 0.5 pips. In addition to spreads, the broker charges commissions on higher-tier accounts, such as the Premium account, which incurs a commission of $6 per lot. Personally, I find the spread to be relatively competitive, but the commission for premium accounts could be a drawback for active traders. It's important to compare these fees against other brokers before committing.
TriumphFX operates under the regulation of the Seychelles Financial Services Authority (FSA), but it is important to note that this is an offshore regulation, and the credibility of such a license is not as high as regulations from major authorities like the FCA or ASIC. Additionally, there are concerns about its reputation, as some platforms like WikiFX have flagged TriumphFX as a scam. From my perspective, while the FSA license adds some level of oversight, the lack of a more trusted regulatory body makes me cautious. If you’re considering this broker, it’s crucial to be aware of the potential risks involved.
The minimum deposit required to open an account with TriumphFX is $100, which is relatively low compared to many brokers. This makes it accessible for traders who are just starting out. However, depending on the account type, such as the Premium or VIP accounts, the minimum deposit requirement increases to $500 and $5,000 respectively. Personally, I appreciate the low barrier for entry with the Standard accounts, but for higher-tier accounts, the minimum deposit could be a significant hurdle for some traders.
Although TriumphFX claims to be regulated by the Seychelles FSA, I’ve found that the broker has been flagged as a scam by WikiFX. This raises some serious concerns about its legitimacy. For traders, it's important to weigh the risks of trading with a broker that has questionable regulatory oversight. Based on the reviews and available information, I would suggest being cautious when considering TriumphFX as it may expose traders to unnecessary risks.
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kkk326
Malaysia
They converted investor's money from usdt to tfx. The initial was usdt 1:1. After that they converted to tfx and the value as of today is 0.016! Which means the investors have lost 99.9% of their initial investments. After the plunge, the company launched new funds with the respective fund managers with own respective crypto coins. Real bastards.
Exposure
Just Do
Hong Kong
Cannot withdraw. Calculated according to the ratio of 0.2, you need to earn 5 times to get back the cost
Exposure
haaaaaa42
Malaysia
I invested 2,000 US dollars, but when I took it out, I was told that I can’t get US dollars, I can only get their TFX, but now I can only get 0.25, that is, I can only get back 25% of the principal. The pile is enticing you to invest money. Photos 1 and 2 are the current TFX, that is, if you promised to give 100U per month, now you only give 100TFX, but the current price of TFx is 0.25. The people in photos 3 and 4 have been reassuring you, and you have to trust the platform photo 5. 6. The management said how many photos were released this week. 7. The current situation. The management said that there will be a certain time. You can sell us the TFX on hand, but it depends on luck. Many people can’t get it. First The first time I heard that getting money is random.
Exposure
nicjdz
Malaysia
THIS SCAM BROKER CONVERTED ALL OUR USD INTO TFX SHIT COIN, AND ITS ONLY WORTH 0.205 now. BASICALLY EVERYONE LOST 80% of their investment. stay away from this FUCKING SHIT BROKER!
Exposure
Van Vinsensius
Finland
after changing the WD exchange, it's getting smoother, faster, hopefully it's not a scam
Positive
正义联盟01
Hong Kong
Submit on Jun 6 and reviewed on June 7. It has not arrived for more than one month. The customer service said they are transfering one month ago, but it has not arrived till now and still delaying.
Exposure
随波逐流13235
Hong Kong
Withdrawal has reviewed for a month and the profit has not arrived till now. It is always showed 121
Exposure
不打款天台見
Hong Kong
The two withdrawals taht passed on June 20th has not been received till now.
Exposure