- What is TriumphFX?
- Is TriumphFX safe or a scam?
- Market Instruments
- Trading Fees
- Deposits and Withdrawals
- Trading Platform
- Customer Support
What is TriumphFX?
TriumphFX is a Cyprus brokerage firm that provides access to trading and investment solutions through its fully regulated environment and quite a competitive conditions. The broker operates since 2010 and has shown its professional approach to investors, traders and institutions by its 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 the 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, pleasunt costs and spreads, also 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 fee. Besides, we saw in history TriumphFX lost its CySEC license for a while, so it is better to check the conditions fully.
10 Points Summary
|🗺️ 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|
Why trade with TriumphFX
Is TriumphFX safe or a scam?
TriumphFX is considered sage under its CySEC, however stay alerted in case any changes occured 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 is a constantly 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.
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 and applicable to other laws and regulations. It was always quite risky to trade with offshore zones and we should definitely mention that trading with Triumph Int. The limited subsidiary is not fully safe to necessary level.
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, always 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.
There are three account types designed by TriumphFX – Standard, Gold and Premium. All accounts feature the same competitive trading conditions and available services, while higher grade account will add on extra benefits.
Alike Gold account users may benefit from Webinars held by TriumphFX and Premium traders getting Markets Analysis 1 vs 1, etc.
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. Indeed, this range is rather limited, so if you wish to trade Stocks, Futures or more Commodities check out other regulated broker reviews better.
TriumphFX defined its pricing strategy based 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.
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|
Deposit and Withdrawals
Another very important part of 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 to process the transaction via Cards, Bank Wire or Skrill, Neteller.
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
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 your 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 its already powerful capability.
Therefore, trading with TriumphFX strong technology based on STP execution you will also be able to deploy a strategy that works the best for you.
|User friendly software||No trading alternative|
|Mainstay on MT4|
|Versions suitable for Web, Mobile and Desktop trading|
|Supporting numerous languages|
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, so you may benefit even more.
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.
Of course, as any broker TriumphFX supporting g its clients in various ways and 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.
As for the education and learning materials, we found through our TriumphFX Review also a 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 fr very beginners we would recommend signing with a third-party provider for an extensive course to understand trading from the scratch.
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 are some negative points too, like limited range of instruments.
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.