- What is TriumphFX?
- Is TriumphFX safe or a scam?
- Market Instruments
- Trading Fees
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Forex experts with over 10 years experience in Trading checked trading offering including instruuments range, fees, platforms, verified licenses, contacted customer service and placed traders to check trading conditions and give expert opinion about TriumphFX
What is TriumphFX?
TriumphFX is a Cyprus brokerage firm and Forex Broker that provides access to trading and investment solutions through its regulated environment and quite competitive conditions. The broker operates since 2010 and has shown its professional approach to investors, traders and institutions by providing NDD and STP model of order processing based on price feeds from the largest providers.
How does TriumphFX work?
TriumphFX operates as an international Forex broker providing trading access via its entities in Europe and international ones.
From its establishment TriumphFX main aim was to democratize Forex trading and make it available for any investor, despite experience or amount of money, for that strive TriumphFX offers a range of account types suitable for beginners or veteran traders, with a good platform to execute orders and quality support from the broker, as well as educational materials.
TriumphFX Pros and Cons
TriumphFx is a CySEC regulated broker with a good trading platform, pleasant costs and spreads, also provides easy account opening with various funding methods supported, which we mention as good overall.
However, some of the downsides could be limited education materials, as well as instruments, since the range offers only Forex and Precious metals, and withdrawal adds on fees. Besides, we saw in history TriumphFX lost its CySEC license for a while, so the main offering comes from its international branches with quite law regulations, so it is better to check the conditions fully.
|Broker with good record and establishment under European laws||Support not available 24/7|
|Low Forex fees and good conditions||No Stocks trading, limited number of instruments|
|Mainstay on customer popular MT4||Conditions vary according to brokers’ regulation|
|In-house analysis free of charge||Withdrawals are not free|
|Dedicated Support and account manager||In the past Broker lost its CySEC license|
|Professional and regular accounts|
TriumphFX Review Summary in 10 Points
|🗺️ Regulation||CySEC, FSC, FSA|
|📉 Instruments||Forex and precious Metals|
|💰 EUR/USD Spread||0.6 pips|
|🎮 Demo Account||Included|
|💰 Base currencies||Several currencies offered|
|💳 Minimum deposit||100$|
|📚 Education||Market Analysis, News and Economic Calendar with research|
|☎ Customer Support||24/5|
Overall TriumphFX Ranking
Based on our Expert findings with over 10 years of Forex Trading experience, TriumphFX might be an interesting broker to trade with, due to its good costs and platforms provided.
- TriumphFX Overall Ranking is 7 out of 10 based on our testing and compared to 500 other brokers, see Ranking below compared to other popular and industry Leading Brokers.
TriumphFX Alternative Brokers
All in all Triumph is a considerable broker for various size and strategy traders. However, since Broker lost its CySEC license in the past there are some concerns if international proposal is transparent enough. Even though regulation is now active again, it would be good to check details about offering itself or check for Alternative Brokers with good history and reputation, see our Ranking below:
See detailed Alternative Broker Reviews:
Is TriumphFX scam or safe Broker?
No, TriumphFX is not a scam it is considered safe under its CySEC entity, however it is better to stay alerted in case any changes occured, also better to avoid trading via its offshore entity due to low requirements. When it comes to online trading, security is paramount to understanding that your capital is secured and protected by the law and regulations.
Is TriumphFX legit?
As TriumphFX was established in Cyprus before it starts its operation legally the firm received a license from CySEC, a local authority that regulates Forex business and firms operating within the financial investment industry. In simple words, it means the broker fully establishes its business according to necessary laws and principles of operation, eventually dedicated to protecting clients and enabling market integrity.
Also, CySEC regulatory standards are fully aligned with the European MiFID directive which also enables TriumphFX to offer its service within the EEA zone and beyond. However, this type of regulation does not let TriumphFX to offer its services in, for example, Malaysia, where the broker is NOT regulated.
- TriumphFX as a regulated broker and overseen Forex broker, which can be fined in case any laws or rules are not maintained which in reverse brings you, as a trader, a safe trading environment. In addition, TriumphFX as any other regulated by CySEC broker participates into a compensation scheme that covers clients’ accounts in case of the company insolvency.
International trading TFXI
Nevertheless, international proposal running through additional offices in Vanuatu and BVI, or Triumph Int. Limited under the domain https://www.tfxi.com/. The trading conditions here are different with applicable laws and regulations. which are rather low and do not provide necessary safety. It was always quite risky to trade with offshore zones, since TFXI scam might appear, and we should definitely conclude and mention that trading with Triumph Int. The limited subsidiary or TFXI trading is not fully safe.
See our conclusion on TriumphFX Trust:
- Our Ranked TriumphFX Trust Score is 7 out 0f 10 for years of operation and good service under CySEC license. However, since mainly international entity based offshore serves clients worldwide and spot on history of the lost license some concerns about TrirumphFX are valid
|TriumphFX Strong points||TriumphFX Weak points|
|CySEC regulated international broker||International proposal performed via offshore entity|
|Global coverage and proposal with crossborder authorization||Broker lost its CySEC license in the past|
|Accepting EU clients|
|Negative Balance Protection
TriumphFX Reviews shows that brokers’ leverage ratios are set to a standard level allowed for European traders since ESMA significantly restricts the use of leverage for retail traders. Therefore, the maximum level is set to a
- 1:30 for major currency pairs and even lower for other instruments
And of course, we advise to learn how to use leverage smartly in order not to fall under inefficient risks.
In case you are a professional trader, there is availability to access high leverage ratios like 1:500, which is available once the status is proved, also via the international entity since regulation is different traders can sign for higher leverage, yet we would advise to learn all risks well.
There are three account types designed by TriumphFX – Standard, Gold and Premium. All accounts feature quite competitive trading conditions and available services, while higher grade account will add on extra benefits for traders. Alike Gold account users may benefit from Webinars held by TriumphFX and Premium traders getting Markets Analysis 1 vs 1, etc. Which all in all makes TriumpFX offering of account types a quite good one, with plesunt selection between suitable conditions.
See our findings below and snapshot of account types:
|Fast digital account opening||No ECN trading|
|Three Accounts offered|
|Variable spread accounts
The range of markets available at TriumphFX includes Forex and Metals like Gold and Silver, where currencies transacted across the centralized market through numerous liquidity providers TriumphFX works with. However, this range is rather limited, means broker places its focus soelly on Forex trading, so if you wish to trade Stocks, Futures or more Commodities check out other regulated broker reviews better.
- TriumphFX Instrument Selection Score is 6 out 0f 10 for good selection of Currency and Metals trading, yet this is all that offered, so there is no diversification to trade Indices, ETFs or Shares
TriumphFX defined its pricing on low spreads and a fractional trading basis, so you will benefit from better pricing also performed with trading process consistency TriumphFX provides.
Find on Forex fees
Generally, fees or spread depend on the account type as higher grade accounts may feature some discounts, yet starting from 0.1 pip.
See some of the TriumphFX spread examples below, also you may compare fees to another popular broker Pepperstone. And of course, always consider rollover or overnight fee as a cost, which is about 2.5% fee or refunds depending on the direction of the position you take.
- TriumphFX Fees are ranked average and low levels with overall rating 8 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity too.
Trading Fees of TriumphFX vs Similar Brokers
|Asset/ Pair||TriumphFX Fees||Fortrade Fees||AvaTrade Fees|
|EUR USD||0.6 pips||2 pips||1.3 pips|
Spread Conditions for Currency Trading:
Deposit and Withdrawals
Another very important part to cover in our TriumphFX review is how to transfer money from or to your trading account. Eventually, all account management happens through an online field, which is very comfortable, while TriumphFX allows processing the transaction via Cards, Bank Wire or Skrill, Neteller.
- TriumphFX Funding Methods we ranked Goood with overall rating 9 out of 10. Minimum deposit is among competitive range, also deposit Fees are either none or very small, besides range of supported funding methods is good, yet verify all conditions based on your country
Here are good and negative points to consider for TriumphFX funding:
|TriumphFX Advantage||TriumphFX Disadvantage|
|No deposit fees||Minimum deposit and conditions vary according to the entity|
|Low deposit requirement||Withdrawals add on fees|
|Wide range of payment methods|
What is the minimum deposit for TriumphFX?
TriumphFX minimum deposit amount is 100$ for the first grade STP account at Rubix, while other accounts deploy higher levels of first deposits, considered a good level among industry.
TriumphFX minimum deposit vs other brokers
||Most Other Brokers
TriumphFX Money Withdrawal
Considering TriumpfFX transfer fees, make sure to check conditions in detail with the payment provider and broker respectively as various jurisdictions may apply different rules due to international policies. Overall, TriumphFX defines no commission for deposits via Bank wire and e-wallets, while Card payment will add on 3$ fee.
Withdrawals will occur some fees, which are waived by the payment provider himself and remain your responsibility, see terms below.
The market leader MetaTrader4 will be the platform if you decide trading with TriumphFX. This choice is not a surprise or something negative, since the majority of world traders retail or professionals using this technology and software, even though the platform look is a bit outdated. Besides, there are numerous add-ons, tools and additional features to enhance capabilities. Also, trading with TriumphFX technology based on STP execution you will also be able to deploy a strategy that works best for you.
- TriumphFX Platform is ranked Good with overall rating 6 out of 10 compared to over 500 other brokers. There is no selection between platforms, MT4 is slightly outdated design even though is a popular platform, so no choice offered by TriumphFX for platforms
Trading Platform Comparison to Other Brokers
MT4 available in various versions, so you can either use it directly from your browser and trade through simplified conditions and tools. Or for extensive strategies full range of tools go for desktop platforms, along with the mobile app allowing you to say updated on the go.
Obviously, MT4 is not the same if you will compare software between two brokers, as the company decides if to add extra features or not, include some of the capabilities or not, as well as make it available for free or with extra charge. Eventually, TriumphFX made MT4 upgraded versions available for all its users free of charge, see our test snapshotot below.
Also, there are different versions suitable for any device, so you remain updated from any location or on-the-go with automated trading capabilities or manual strategies, or by using MetaTrader Terminal for Money managers.
Lastly, we checked Customer Support, since in case there are any issues you have to respolve it prominently and professionally. TriumphFX supports its clients in various ways, however available only through working hours with its Cyprus office. Even though, the team is not available 24/7 or on weekends, we found its answers quick and relevant via Live chat or phone lines.
- Customer Support in TriumphFX is ranked Good with overall rating 8 out of 10 based on our testing. Support provides relevant answers, also is available 24/7 whcih is a plus for fast answers
See our Ranking of Customer Service:
|Quality customer support with live chat||Support not available 24/7|
|Fast response within working hours|
|Multilingual support |
As for the education and learning materials, we found through our TriumphFX Review limited range of learning courses or videos.
You will find Forex Essentials, Forex Glossary, Economic Calendar and research tools with in-house designed Analysis and News feed. Eventually, that is all what available so for beginners we would recommend signing with a third-party provider or choose another broker for an extensive course to understand trading from the scratch.
- TrirumphFX Education overall rating 6 out of 10 based on our research. There are much more organized and professional Education materials with Academy and Webinars provided by other brokers like Trading212 or HFM, while TriumphFX education is rather limited.
TriumphFX Review Conclusion
For final TriumphFX review thoughts, the broker provides balanced conditions suitable either for beginning or professional traders. The broker uses technology and pricing strategy smartly, so TriumphFX has all the necessary conditions for your successful trading performance either it is powerful conditions or support from the company. The spreads are low considered to other brokers in industry and platforms are quite good too.
Yet, the are some negative points too, like limited range of instruments, education is rather basic, also there are some negative experience reviews from traders’ community, besides to the fact that broker lost its licenses for a while. So all in all, we recommend double check whether TriumphFX is choice for you, also better to open account under CySEC entity and avoid its international for safety reasons.
Based on Our findings and Financial Expert Opinion TriumphFX is Good for:
- Currency Trading
- Traders who prefer MT4 platform
There are records that TriumpFX was not available with CySEC license therefore for EU traders for some time being.
However, Cyprus regulated offering via triumphfx.com website is available again for now. The broker has retained the CySEC license. Anyway, we recommend staying alert and doing your own research about TriumpFX before signing in with the broker.