75 % of retail investor accounts lose money when trading CFDs with this provider.
TriumphFX Review (TFXI) 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100$
- MT4
- VFSC
- CySEC
- 2013
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100$
- MT4
- VFSC
- CySEC
- 2013
Our Evaluation of TriumphFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
TriumphFX is a broker with higher-than-average risk and the TU Overall Score of 4.62 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by TriumphFX clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
TriumphFX is a broker with an emphasis on the high-quality execution of transactions in the Forex market. At the same time, the general list of represented markets is rather small.
Brief Look at TriumphFX
TriumphFX is an STP broker that has been providing services since 2009. The company offers trading in 60 currency pairs on the Forex market, as well as 4 precious metals. The company’s international division is licensed by the VFSC (Vanuatu Financial Services Commission, registration number 17901). The European division of the company is regulated by the Cyprus Securities and Exchange Commission (CySEC, No.293/16). The broker’s reliability has been recognized by five prestigious international awards, including Most Reliable Forex Broker of the Year 2017.
- When executing transactions, the technology of direct routing of transactions to liquidity providers (STP) kicks in.
- The minimum deposit is $100.
- Negative balance protection.
- High quality of execution of transactions due to the presence of a modern data center.
- Compensation of client’s expenses for banking services with a deposit of more than $500.
- Small inventory of trading instruments.
- High spreads on the most affordable account types.
- Small selection of withdrawal methods.
TU Expert Advice
Financial expert and analyst at Traders Union
TriumphFX has been providing services for over 12 years, and during that time its main efforts have been aimed at providing clients with high-quality service in the Forex market. The broker specializes in providing direct access to the world’s leading liquidity providers using STP technology. This provides clients with reliable and fast order execution.
The brokerage company TriumphFX offers five types of accounts that are suitable for clients with various financial means: Standard Fixed, Standard Variable, Premium, Platinum, and VIP. The conditions on standard accounts are not that favorable, because the spread starts from 1.6 pips with a minimum deposit of $100. TriumphFX offers the most interesting conditions for wealthy clients on the VIP trading plan, where the spread starts from 0.5 pips in the absence of other commissions. However, the minimum deposit amount rises to $5,000.
On the broker’s website, only the minimum value of the spreads is indicated, which somewhat complicates the calculations. The average value of the spread can differ significantly, and it is often possible to establish it experimentally. The technical support service can also help in clarifying trading conditions, but you can communicate with them only using tickets, which complicates the process. You can wait up to 3 business days for their response.
TriumphFX Summary
Your capital is at risk. 75 % of retail investor accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | МТ4 (desktop, mobile, web) |
|---|---|
| 📊 Accounts: | Demo, Standard Fixed, Standard Variable, Premium, Platinum, VIP |
| 💰 Account currency: | USD, EUR, GBP |
| 💵 Replenishment / Withdrawal: | Withdrawal — wire transfer, deposit — wire transfer, bank card, Neteller, Skrill |
| 🚀 Minimum deposit: | from 100 USD |
| ⚖️ Leverage: | Up to 1:30 (for the clients of European subdivision), up to 1:500 (or the clients of international subdivision) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | from 1.6 pips (Standard), from 0.5 pips (VIP) |
| 🔧 Instruments: | Currency pairs (60), metals (4) |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | More than 20 global banks including Bank of America, Citi, Barclays, BNP Paribas, and HSBC |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | Fee for inactivity |
| 🎁 Contests and bonuses: | Introducing Bonus 5% |
The broker TriumphFX offers its clients 60 currency pairs and four precious metals for trading as well as the classic MetaTrader 4 terminal. The minimum spread value ranges from 1.6 points on a standard account to 0.5 points on a VIP type account. Traders receive leverage with a maximum value of 1:30 to 1:500. Potential clients can test the trading conditions on a demo account. Muslim traders have access to 2 types of Islamic accounts, which do not charge swaps.
TriumphFX Key Parameters Evaluation
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Trading Account Opening
To start trading with TriumphFX you need to go through the registration procedure on the company’s website. Follow these steps:
Click on the Live Trading or Demo Trading button on the company’s website. The choice depends on whether you are going to start trading with real funds, or test the company’s services without risks using its demo account.
After choosing the type of account, the system will prompt you to fill out a registration form, where you have to specify your surname, first name, email, phone number, and country of residence. After completing the initial registration, the system will redirect you to an in-depth questionnaire, where you will also need to tell about the level and sources of your income, work, knowledge, and experience in the financial sector, as well as confirm that you are not a holder of US citizenship, do not have a green card and are not a U.S. taxpayer.
You have to provide the broker with a copy of your passport or another identity document through a special form. It is important that the document is also proof of your citizenship. It can take up to 3 business days to review and approve the documents.
The functionality of the TriumphFX personal account allows you to:
Regulation and safety
TriumphFX is a multi-country licensed broker. Each of the divisions complies in its activities with the requirements of local regulators. Read more about TriumphFX security here.
Triumph Int. Limited is an international division of the company, which operates under license from the Vanuatu Financial Services Commission (VFSC). The registration number is 17901. This division does not provide services to customers in the United States, as well as residents of certain other countries; a complete list of which can be found on the website.
Triumph Int. (Cyprus) Limited is the European division of the company, which is authorized to provide services to clients from the European Economic Area. The division is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Advantages
- The broker is licensed and works officially
- There is negative balance protection
- Segregated accounts
Disadvantages
- When registering, you have to provide detailed information about your financial situation
- Customers of most countries can only work with an offshore subdivision where customer protection is low
- Withdrawal of funds is possible only via bank transfer
Commissions and fees
Non-trading commissions. When withdrawing funds, the commission of the intermediary bank will be from $25 to $75. The broker compensates the bank’s commissions for deposits, but only in case of a deposit starting from $500.
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | from $16 | Yes |
| Premium | from $6 | Yes |
| VIP | from $5 | Yes |
There are swaps (commission for moving a position to the next day).
The analysts of Traders Union also compared the size of the average trading commission for TriumphFX, RoboForex, and Forex4you. The comparison results are presented in the form of this table.
| Broker | Average commission | Level |
|---|---|---|
|
$9 | |
|
$1 | |
|
$8.5 |
Account types
TriumphFX offers six account types. All account types are compatible with the MetaTrader 4 trading platform. The maximum leverage for clients in the European division is 1:30, for an international division registered in Vanuatu it is 1:500.
Account types:
TriumphFX is an STP broker focused on providing services for traders who prefer to trade Forex using STP/ECN technologies.
Deposit and Withdrawal
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TriumphFX processes withdrawal requests within 2-5 business days.
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Money can only be withdrawn via international bank transfers.
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Bank transfers take from 3 to 5 business days.
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The agent banks’ fees for each withdrawal of funds range from $25 to $75.
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TriumphFX does not reimburse customers for banking charges upon withdrawal.
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Verification is required to make a deposit.
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The company will reimburse bank depositing costs in case of a deposit of $500 or more.
Investment Options
Investment Programs, Available Markets and Products of the Broker
The TriumphFX broker offers the Community Trading service, which is a form of social trading for novice clients with a small initial deposit. Wealthy clients have access to the service for transferring funds to management. The broker invites companies to become partners and use the Introducing Broker (IB) and White Label services.
Community Trading Program for copy trading
TriumphFX’s Community Trading is available for Standard and Premium account types. Thanks to the copy trading program, beginners have the opportunity to copy transactions of professionals in real-time. The platform provides the ability to control risks. Clients can set the size of the maximum drawdown, after which the copying of trades stops.
Professional traders can become signal providers to the Community Trading Program and earn 10% of the profits on followers’ accounts.
Fund Management Service: Transfer funds to a professional to manage
For clients who wish to transfer their funds to a professional to manage, the Fund Management service is available. It can be activated through the personal account by linking your account to the account of one of the management companies.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Affiliate program from TriumphFX:
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Introducing Broker (IB) is a solution for companies that want to become partners of TriumphFX. Affiliates receive a commission for referring clients. Every time the attracted client makes a transaction, the partner receives a commission. The more clients you manage to attract, the higher your reward will be.
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White Label is a program for companies wishing to enter the brokerage business under their own brand. TriumphFX offers partners a high-tech trading platform and all accompanying brokerage infrastructure, back-office capabilities, and an extensive network of liquidity providers. The task of partners is reduced to advertising and attracting customers.
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Affiliate is a program for all potential affiliates who can drive traffic. It will be of interest to financial influencers, bloggers, and website owners. They get the opportunity to place an affiliate link or banner on their or other sites, and earn part of the commissions from the clients attracted this way.
Customer support
The support team works 24/5.
Advantages
- Using a ticket, you can ask a question without being a client of the company
Disadvantages
- Support tickets can take up to 3 business days to process
- Few communication channels
Available communication channels with customer support specialists in Vanuatu include:
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ticket in Contacts;
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email.
Available communication channels with customer support specialists in Cyprus includes:
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phone (see numbers in Contacts);
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email;
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ticket.
Contacts
| Foundation date | 2013 |
|---|---|
| Registration address | S.I.P. Building, P.O. Box 3010, Rue Pasteur, Port Vila, Vanuatu |
| Regulation | VFSC, CySEC |
| Official site | https://www.triumphfx.com/ |
| Contacts |
+35725030337
|
Education
There are not many training materials on the TriumphFX website. The only way to gain knowledge about the Forex market is to familiarize yourself with a short glossary. However, the broker’s Youtube channel has a good series of training videos, both on how to work in Forex and on how to work with the trading terminal and the broker’s personal account.
The broker does not have a cent account, so training on a demo account would be the best way to consolidate the knowledge gained while practicing.
Comparison of TriumphFX with other Brokers
| TriumphFX | RoboForex | Pocket Option | Exness | FxPro | XM Group | |
| Trading platform |
MT4, Mobile platforms | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MT5, MobileTrading, XM App |
| Min deposit | $100 | $10 | $5 | $10 | $100 | $5 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0.6 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 25% / 20% | 100% / 50% |
| Execution of orders | STP | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed Review of TriumphFX
The broker TriumphFX focuses not on a large number of instruments provided for trading, but on high-quality execution of transactions in the Forex market. Particularly beneficial are its Premium, Platinum, and VIP accounts, where clients can trade with low market spreads. The broker offers novice traders a demo account, but there is no cent account. Muslim traders can trade on two swap-free account types.
TriumphFX by the numbers:
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More than 11 years on the market.
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64 trading instruments.
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5 international awards.
TriumphFX is a broker for active trading and copy trading on Forex
TriumphFX supports most types of active trading, including scalping, which is popular among Forex traders. The high speed of transaction processing and order execution is ensured by the presence of a modern data processing center. For passive investors, the main option is a copy trading service that allows you to copy transactions of the most successful platform traders in real-time. Asset management services are also available. The main trading platform is MT4, which is available for WEB, PC, Android, and iOS. The broker also has a proprietary mobile trading app for Android called TriumphFX.
The broker offers both standard accounts and STP/ECN accounts, which imply direct routing of transactions to liquidity providers. There are 60 currency pairs and four metals available. To maintain high liquidity and the best quotes, the company partners with more than 20 leading global banks, including Bank of America, Citi, Barclays, BNP Paribas, and HSBC.
Useful services of TriumphFX:
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Economic Calendar. It allows you to track key economic statistics affecting the Forex market.
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Equinix’s IBX® Data Centers. They provide 50 cross-connections in each of the company’s multiple data centers to achieve high liquidity.
Advantages:
STP/ECN technologies provide direct routing of orders to the market.
Security of work is ensured by licenses from reputable regulators and segregated accounts.
Tight spreads from 0.5 pips on Premium accounts and above.
Copy-trading platform.
Free daily analytics from the company’s experts.
User Satisfaction