Is TriumphFX a scam? Can TriumphFX Be Trusted?

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75 % of retail investor accounts lose money when trading CFDs with this provider.
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With the abundance of money-making platforms on the market, it can be difficult to pick the right ones for your financial goals. Indeed, while many of these platforms are totally reputable, there are countless others that can be considered misleading if not an outright scam. Therefore, taking the time to learn more about financial platforms before investing is essential. For instance, TriumphFX is one relatively popular broker platform being used to build the investment portfolios of people from all over the world. However, as with many broker platforms, potential clients may be warned to avoid the 'TriumphFX scam.' That said, the following is a closer look at TriumphFX.

Is TriumphFX Legit?

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Your capital is at risk.
75 % of retail investor accounts lose money when trading CFDs with this provider.

For those concerned about the legitimacy of TriumphFX, rest assured that it is totally legit. Created with the intent of providing people from all walks of life with access to high-quality investment and trading solutions, one of the main goals of this platform is to provide everyday people with the ability to engage in Forex trading regardless of the amount of money they have available or their level of experience. No matter if you are new to investing or if you’re a veteran, you will find a variety of money-making opportunities on TriumphFX. Is TriumphFX Legit in My Country?

Is TriumphFX Legit in My Country?

TriumphFX is only reputable in the countries it's available in. TriumphFX is by no means available to everyone. Unfortunately for Americans, it is not available in the US. Those who find opportunities in other countries may fall victim to a TriumphFX scam. However, it is mostly available in European countries, such as the following:

Cyprus

United Kingdom

The Republic of Korea

Italy

Malaysia

Indonesia

Singapore

Australia

Germany

Is TriumphFX Regulated?

If you’re wondering if TriumphFX is regulated, the answer is yes. The broker has an EU-regulated entity and an offshore entity. However, it is important to make the distinction between the two. On the one hand, the regulated entity is registered with CySEC, which is the legitimate regulator of Cyprus. On the other hand, the offshore branch, Triumph Int. Limited is based in Vanuatu and only includes minor international protections.

How Does TriumphFX Protect Investors' Funds?

TriumphFX also offers protections for investors' funds in general. In particular, the platform makes sure segregated clients' funds are separated from its operational accounts. Therefore, the clients' funds are held in chief investment global banks. Moreover, there is also protection from negative balances.

In terms of cybersecurity, the platform is considered to be secure and uses the typical safeguards used by most comparable platforms. These protections are designed to prevent cyber attacks by protecting the client’s information and data.

TriumphFX Pros and Cons

As with all investing/trading platforms, there are both pros and cons to using TriumphFX. Some of them are as follows:

TriumphFX Pros

Negative Balance Protection: One of the top benefits of TriumphFX is that it offers negative balance protection. So, although it won’t prevent you from losing your money, it can certainly stop your account from being in the negative.

Educational Materials Offered: Another major benefit of TriumphFX is that the platform offers an array of educational materials. This means that you can start as a beginner, intermediate, or even advanced broker and learn along the way. With the help of their suite of videos and learning courses, investors can use tools such as Forex essentials, the Forex glossary, and more.

Low Minimum Deposit: Although some platforms may have higher thresholds in terms of the minimum deposit, TriumphFX has a minimum deposit amount of only $100. This is considered highly reasonable in the investment realm in that many deposit thousands of dollars on a regular basis.

Demo Accounts Available: Another major benefit of using TriumphFX is that it offers demo accounts. This is excellent for those who are new to these types of investments or who simply are not prepared to invest in real-time. The demo account allows you to learn and try investments without risking any of your own money in the process. Once you are sure about your investment choices, you can then create a live account.

Safety and Regulations: One great benefit of working with TriumphFX is that it is relatively safe and well-regulated. Protected by the CySEC, those who use the EU-regulated sector of the platform will reap the benefits of a well-regulated platform that is backed by an organization that prides itself on protecting investors from predatory platforms and practices.

TriumphFX Cons

On the other hand, the cons of investing with TriumphFX are:

Limited Trading Instruments: One of the most commonly listed cons of working with TriumphFX is that there is a very limited number of categories available. In particular, the platform only offers precious metals and Forex. This makes it far less attractive to those who value versatility in their investment portfolio. However, it does have over 64 instruments available between the two categories.

Lacking Research: TriumphFX does not offer its clients much in the way of research. Therefore, many must learn about the various nuances of the platform by opening up an account and trying it for themselves.

The History of TriumphFX

Founded in 2009, TriumphFX has been around longer than most people seem to realize. The platform has grown over time and now has headquarters in Australia, Cyprus, Hong Kong, and Malaysia. Now considered a tried and trusted platform, TriumphFX is highly attractive to many users because it offers a fast, safe, and reliable method of making Forex and precious metal trades of all kinds.

Offering STP (straight-through processing), NDD execution (NDD) execution, electronic communication networks (ECN), as well as steady premium price feeds from some of the world’s largest financial institutions, TriumphFX gives its users a variety of processing options.

The overall goal of TriumphFX has been to make Forex trading more accessible to the average person. A goal that it continues to succeed in. Offering the ability to trade from phones, tablets, computers, and more, this platform is convenient and simple to learn for virtually anyone.

FAQs

Is TriumphFX regulated?

Yes, the platform is regulated by Vanuatu Financial Services Commission 17901.

Is TriumphFX beginner-friendly?

Yes. You will find a variety of opportunities on the platform; for beginners, veterans, and everyone in between.

Can you trade cryptocurrencies on TriumphFX?

No, that option is not presently available on the platform.

Can you trade Forex on TriumphFX?

Yes, and the platform also offers educational resources to help customers to better understand how to master their own Forex investments.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.

Mikhail’s motto: Learn something new and share your experience – never stop!

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.

Olga’s motto: Do well and you’ll be well!