
TriumphFX Overviews
According to TradersUnion, TriumphFX is an NDD, STP broker that has been providing an online trading service since 2009. It also claims that the broker has received multiple awards for the most reliable broker, including one for 2017. However, TriumphFX Cyprus seems to be a different entity or perhaps even a different company from TriumphFX (https://www.tfxi.com/). In this review, we try to decipher which of the two brokers are legitimate by looking at TriumphFX and seeing what they offer in terms of customer support, tradable assets, their regulation license, and more.

According to TradersUnion, TriumphFX is an NDD, STP broker that has been providing an online trading service since 2009. It also claims that the broker has received multiple awards for the most reliable broker, including one for 2017.
However, TriumphFX Cyprus seems to be a different entity or perhaps even a different company from TriumphFX (https://www.tfxi.com/). In this review, we try to decipher which of the two brokers are legitimate by looking at TriumphFX and seeing what they offer in terms of customer support, tradable assets, their regulation license, and more.
Let’s see if this broker is legitimate and, if so, what precisely it is they can offer you as a new trader or retail veteran.
Broker Feature | Overview |
Type of Broker | NDD, STP broker |
Regulation & Licensing | Financial Services Authority of Seychelles (FSA)
|
Countries Not Allowed To Trade | 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.
|
Assets Offered | Forex, Commodities, Indices |
Platforms Available | Metatrader 4, TriumphFX mobile, Web Terminal |
Mobile Compatibility | Yes |
Payment & Withdrawal Options
|
Credit Debit/Credit card, UnionPay, Online Banking, Tether, AliPay, Wire Transfer
|
- TriumphFX is a NDD and STP Broker
- Their Tradable assets include forex, commodities and Indices
- They are regulate by the FSA
Pros and Cons
- 7 different accounts to choose from
- The asset list is small
- There is no customer support
- Potentially a scam
Is TriumphFX Safe? Broker Regulations
TriumphFX has multiple entities, which are TriumphFX, which the FSA regulates, and then TriumphFX Cypres, which is regulated by multiple authorities. For the purpose of this review, we are looking at the global entity that operates as such;
- Triumph Int. (SC) Limited is regulated by the Financial Services Authority (FSA) of the Republic of Seychelles as a “Securities Dealer” bearing license number SD080.
It is important to note that if you are in Europe, then you will be dealing with the “Cyprus” entity and many more authorities regulate this entity of TriumphFX than just the FSA;
- Triumph Int. (Cyprus) Limited is registered with Commissione Nazionale per le Societā e la Borsa (CONSOB; Italian Companies and Exchange Commission) of Italy (Registration number: 4493).
- The Financial Agents Register (Regafi) lists all French or foreign companies that have been granted authorizations to operate in France by the ACPR. (Registration number: 76279 )
- The Dutch Authority for the Financial Markets (AFM)
- The Federal Financial Supervisory Authority, abbreviation BaFin, is Germany’s financial regulatory authority.
- The Czech National Bank (Česká národní Banka, ČNB) is the central bank and financial market supervisor in the Czech Republic.
Remember that authorities regulate brokers to promote good business practices. This means that clients can feel that their capital is in good hands and the broker is conducting no fraudulent behavior.
Another way to tell how reliable a broker is is to look at their reputation on TrustPilot. In terms of the Global entity the TriumphFX operates under, they have a score of 3 out of 5 stars from almost 500 reviews. This would put this broker in terms of reliability as average.
The last thing to consider is that TriumphFX has received multiple broker awards over recent years that include;
- The Best Forex Broker
- The Best IB Program
- The Most Influential Broker In Asia
They have additional awards, and if you would like to know more about them, you can do so by viewing there company profile page here. However, even though this broker looks to be legitimate, there are factors that you should consider that point to signs of this broker being a scam.
- • Cyprus Securities and Exchange Commission (CySEC)
- • Financial Services Authority of Seychelles (FSA)
- Financial Sector Conduct Authority (FSCA)
- Financial Conduct Authority (FCA)
- Financial Services Commission (FSC)
- Italian Companies and Exchange Commission (CONSOB)
- The Financial Agents Register (Regafi)
- The Dutch Authority for the Financial Markets (AFM)
- Federal Financial Supervisory Authority (BaFin)
- The Czech National Bank (Česká národní banka, ČNB)
What Can I Trade with TriumphFX?
The global entity of TriumphFX (the entity that is registered under the FSA) allows clients to trade three specific markets and they are namely forex, commodities, and Indices. In terms of the number of assets and how this broker compares to most, the instrument list is quite small, but let’s take a look at what they offer in detail.
Take note that we were not able to tell if TriumphFX had more assets to offer because we derived this information from their website, and at this point in time, our account was still pending verification, so we could not establish if they had more assets to trade.
Forex
TriumphFX lets clients trade the most popular forex pairs, such as the EUR/USD, the AUD/USD, GBP/USD, NZD/USD, and the USD/JPY.
Commodities
The list of commodities that are available to trade with TriumphFX is also quite limited, and they are restricted to Gold, Silver, and Oil.
Indices
For Indices, TriumphFX only seems to list 5, which are;
- AUS200
- DE30
- ES35
- EU50
- HK50
However, if you look at the home page of their website, you will see that they (perhaps) offer the S&P 500, the Nikkei 225 and the Dow.
- Forex
- Commodities
- Indices
How to Trade with TriumphFX?
There are three ways in which clients are able to trade with TriumphFX. Firstly, as with the majority of others, this broker uses what is considered the “gold standard” among trading software, and that is MetaTrader 4.
However, when looking at their MT4 overview page, it should be noted that they only have it available for the following;
- Windows
- Web
- Android
This means that Mac and iOS users cannot download and run this software from their Apple systems. This is to be expected, as Apple removed MetaTrader from their app store a while back. You can read more about this situation and how it evolved from our other article here.
If you are a client of TriumphFX, then you will only need to choose how you would like to use MT4 as your trading software. By far, the easiest is to use the web terminal. Following any of the links from the TriumphFX website will take you directly to the online trading platform, and you will only need to fill in your user information to access the charts and your account.
Otherwise, if you are looking to download the software, you will only need to head to the MT4 overview page on the TriumphFX website, navigate to “Windows,” and then hit the “download” button.
Surprisingly, when you access MT4 for Android, the site prompts you back to the web platform. However, MetaTrader mobile is accessible from the Play Store, so you can download it there and then access your TriumphFX trading account from it.
The last way you are able to trade is by using the TriumphFX Mobile App. This should not be mistaken for MetaTrader mobile. This is TriumphFX’s proprietary mobile app. This mobile trading app is available only for Android phones so iOS users will be out of luck. You can download the app from;
- MetaTrader Web Terminal
- MetaTrader 4 (Windows)
- TriumphFX Mobile App
How Can I Open TriumphFX Account? A Simple Tutorial
Opening an account with TriumphFX is simple enough; however, it is a tad more involved than when signing up with other brokers. This is because, during the signup process, TriumphFX makes you verify your account immediately, meaning you will need to have all the correct documents on hand.
You will first need to head to their website and then select the “register” button in the top right-hand corner of the screen.
Once you have done this, you will be taken to a registration screen where you will need to fill out a few criteria like;
- Name
- Nationality
- Phone Number
Next, you will be taken to a section where you will need to fill in the rest of your personal details that, include;
- Residential Address
- Referral Key
- Trading History
- Employment History
- Financial Experience
- FATCA
Once this is complete, the next screen you will be prompted with is one where you will need to submit verification of your identity. This is different from other brokers because, typically, you will be able to open an account with another broker without going through this stage. It is only when you want to deposit and withdraw as well as trade on a live account does a broker inform you that you need to verify your identification.
However, TriumphFX has this as part of the signup process. Once you have uploaded your necessary documents, such as your ID, proof of address, and proof of bank account creation, you will be done creating your account. The only thing is, you will not be able to access the client area until TriumphFX has verified you. You will need to check your email account, where you should have been sent a notification informing you that your account status is pending. Once Triumph has reviewed your details and verified you, you will be sent another Email with your account details.
- Head to the TriumphFX website
- Select the "Register" button in the top right-hand corner
- Follow the prompts to fill in your name and Email
- Follow the prompts to fill in the rest of your details, such as a residential address, work history, and trading experience
- Upload documents for verification
- Check your Email for a follow-up mail
- Check your Email for account verification
TriumphFX Charts and Analysis
Compared to other brokers, TriumphFX does not have much in the way of resource materials when it comes to helping new traders learn more about how to trade better and hone their skills. They have nominal resources that include;
The economic calendar the TriumphFX provide is nothing special or out of the ordinary. It is just a no mess no, fuss calendar that details all the current and upcoming economic events.
Then they have a NonFarm Payrolls calendar which is outdated and sits at 2021. Following that, they have a section dedicated to “forex basics,” which is basically an overview of the main concepts in forex, such as leverage, spread, and then some very basic concepts revolving around technical analysis.
If you do not know anything about trading, then reading through this section one time will not hurt, but if you are looking to really learn how to trade and master the craft, then you would better be suited to trying to find other trading educational material from any other broker (ZFX being very good) or using any other form of online media such as YouTube or eBooks.
Next, they have a glossary section dedicated to forex terms that everyday traders and financial professionals use. This is fine for what it is, but the entire section comprises of only a few key terms. There is not enough information (terms) to warrant this section having any benefit to a new trader.
The last section they have is the Market Analysis “blog,” where TriumphFX redeems itself to a degree. An analyst by the name of Samuel Morton writes a daily take on the forex markets where he goes over various positions and outlooks using charts and detailed descriptions of where he thinks the markets are headed. If you are familiar with technical analysis along with a good understanding of fundamentals, then this “daily” blog is quite interesting and possesses some value.
Feature | MetaTrader 4 | TriumphFX Mobile |
One-Click or One-Tap Trading | Yes | Yes |
Trade Straight off Charts | Yes | Yes |
Email Alerts or Push Notifications | Yes | Yes |
Mobile Alerts | Yes | Yes |
Stop Order | Yes | Yes |
Market Order | Yes | Yes |
Trailing Stop Order | Yes | No |
OCO Orders (One-Cancels-The-Other) | Yes | No |
Limit Order | Yes | No |
24hr trading | Yes | Yes |
Charting Package | Yes | No |
Streaming News Feed | Yes | No |
- Economic Calendar
- Nonfarm Payroll Calendar
- Forex Basic
- Forex Glossary
- Market Analysis
TriumphFX Account Types
1 of 7 account types is possible to open when signing up to TriumphFX. However, variations on these accounts can be opened in terms of an Islamic or VIP variant. The 7 available accounts are Standard Fixed, Standard Variable, Premium, Platinum, and Islamic platinum.
All accounts in question have a base currency of USD only, and the maximum leverage available is a maximum of 500:1. The fixed account variant means that the spread is fixed, while all other accounts will have a floating spread, no matter if it is an Islamic or VIP account.
There is no commission on the “standard” accounts, but there is a 6 USD commission on positions with a Premium account and then a 3 USD commission on a Platinum account. It should be noted that on accounts with a floating spread and that also need you to pay a commission, the spreads will be substantially smaller than those of a standard account.
On accounts that charge a commission, you are typically looking at a spread of about 0.6 pips on average.
The only account somewhat different from all these accounts that TriumphFX offers is their VIP account. This account needs you to have a minimum deposit of 5,000 USD. This might seem a bit much but other brokers have similar accounts and the benefits are very tight forex spreads with no commissions. This account also has a floating spread with a maximum leverage of 500:1.
Lastly, the Islamic Platinum account is almost identical to the VIP account, but you only need a deposit of 2,000, and it has the benefit of no swap fees with a spread of 0.6 compared to that of the VIP account, which is 0.5.
STP broker | Standard Fixed | Standard Variable | Islamic Variable |
Features | Fixed spreads, no commission | Floating spread no commission | Floating spread no commission |
Account Currencies | USD | USD | USD |
Available Leverage | 500:1 | 500:1 | 500:1 |
Minimum Deposit | 100 USD | 100 USD | 100 USD |
Commission Per Trade | N/A | N/A | N/A |
Trading Instruments | Forex, Commodities, Indices | Forex, Commodities, Indices | Forex, Commodities, Indices |
Min. Lot Size Per Trade | 0.1 | 0.1 | 0.1 |
Max. Lot Size Per Trade | N/A | N/A | N/A |
Spreads | 1.6 | 1.6 | 1.6 |
Demo Account | Yes | Yes | Yes |
Swap/Rollover Free | No | No | Yes |
Hedging | N/A | N/A | N/A |
Scalping | Yes | Yes | Yes |
Copy Trading Support | Yes | Yes | Yes |
Available to US Residents | No | No | No |
(Type of Broker) | Premium | Platinum | VIP |
Features | |||
Account Currencies | USD | USD | USD |
Available Leverage | 500:1 | 500:1 | 500:1 |
Minimum Deposit | 500 USD | 2,000 | 5,000 USD |
Commission Per Trade | 6 USD | 3 USD | N/A |
Trading Instruments | Forex, Commodities, Indices | Forex, Commodities, Indices | Forex, Commodities, Indices |
Min. Lot Size Per Trade | 0.1 | 0.1 | 0.1 |
Max. Lot Size Per Trade | N/A | N/A | N/A |
Spreads | 0.6 | 0.6 | 0.5 |
Demo Account | Yes | Yes | Yes |
Swap/Rollover Free | No | No | No |
Hedging | N/A | N/A | N/A |
Scalping | Yes | Yes | Yes |
Copy Trading Support | Yes | Yes | Yes |
Available to US Residents | No | No | No |
- Standard fixed
- Standard variable
- Islamic variable
- Premium
- Platinum
- Islamic Platinum
- VIP
Do I Have Negative Balance Protection with This Broker?
A great policy that Triumph offers is that of negative balance protection. This is something that many brokers offer, but you would be surprised at the number of brokers who do not.
Negative balance protection is a policy whereby TriumphFX will absorb all your losses. For example, if you open a position and then it loses, and your account goes into a negative balance, Triumph will bring your account balance back to zero instead of you having to pay back the capital that is in arrears.
- Negative balance protection on all accounts
TriumphFX Deposits and Withdrawals
Another area that TriumphFX seems to lack in is the ability to have multiple ways to deposit and withdraw funds from your trading account. Many brokers have multiple ways to do this, and TriumphFX seems to lag behind, only having credit and debit cards and a few e-wallet options.
Regarding e-wallet options, TriumphFX has a few that are not common, such as Alipay, UnionPay, and Tether. Then online banking and wire transfer are the last options that they offer.
One thing to note is that funds are segregated, and that means that the company itself does not hold onto your capital, making it somewhat safer. There are a few things that you need to now in order to deposit funds from TriumphFX. These are the steps you need to take;
- Log in to your own Traders Room account, select “Deposits” under “My Account,” and then select the “Online Deposit” tab.
- Select your preferred options: Online transfer, Visa/Mastercard, Alipay, Cryptocurrency, or others.
- Fill in the deposit details and follow the steps to complete the deposit.
Then For any deposit equivalent to or above 500 USD, TriumphFX will reimburse the Intermediary Bank Charges up to a maximum of 70 USD. However, any Local Bank Charges incurred by the sending bank will not be reimbursed.
We suggest you view their deposits and withdrawals page, which you can find here for more information.
- Minimum deposit for Standard accounts is: 100 USD
- Minimum deposit for Premium accounts is: 500, 2,000, 5,000 USD
- Debit/Credit card
- UnionPay
- Online Banking
- Tether
- AliPay
- Wire Transfer
Support Service for Customer
TriumphFX does not seem to have any customer support. When visiting their site, there is no contact us page, any form of a contact Email address, a phone number, live chat, or anything else that would allow you to get in contact with them.
The only customer support we could find on this broker was by going to wikiFX and trying to find a phone number or email address. However, it should be noted that we do not know if these means of communication actually work.
TriumphFX Customer Support | Overview |
Supported Languages | N/A |
Customer Service By | N/A |
Customer Service Hours | N/A |
Email Response Time | N/A |
Telephonic Support | N/A |
Personal Account Manager | N/A |
- No customer support
Prohibited Countries: Where Can I Not Trade with this Broker?
TriumphFX does not operate in the USA, meaning residents from there will not be able to open an account. TriumphFX welcomes clients from all over the globe, but 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.
- USA
- 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.
Special Offers for Customers
Many brokers will have special promotions and, in some cases, even signup bonuses to entice new clients to register and trade using them as their broker. This could come in the form of a double deposit bonus or a loyalty program; some brokers like ZFX even run trading competitions where you can win a weekend away.
The only “special promotion” that we could find is the referral program and then the IB (Introducing Broker) program that TriumphFX supposedly offers.
According to TriumphFX, “Introducing brokers are individuals or companies who introduce clients to TriumphFX. IBs represent our voice and spread the word. In return, IBs get paid in commission based on their clients’ trading volume or products. Our IB program is a unique opportunity for you to earn from your network and is one of the most lucrative partnership programs in the Forex industry.”
- Referral program
- IB (Introducing Broker)
TriumphFX Review Conclusion: Reputable Broker with Easy-to-use Platform
As far as we can tell, TriumphFX, even though they claim to be registered with the FSA, we regard this broker as very deceptive and, in some cases, an outright scam. The first clue is that they do not have any customer support whatsoever. There is no way to contact this broker via Email, phone call, live chat, or any other means.
PIPPENGUIN
As far as we can tell, TriumphFX, even though they claim to be registered with the FSA, we regard this broker as very deceptive and, in some cases, an outright scam. The first clue is that they do not have any customer support whatsoever. There is no way to contact this broker via Email, phone call, live chat, or any other means.
They also have a low score on wikifx, with a 2 out of 10 warning users that this broker is potentially a scam. If you are looking for a safe and reliable broker, we suggest you stay away from TriumphFX and consider a trustworthy broker like ZFX.
- No customer support
- A limited number of assets
- Limited trading educational resources for learning
- Only have a market outlook blog
Summary and Key Takeaways
We covered TriumphFX in this review and not TriumphFX Cyprus. This broker, from what we have seen, should not be trusted.
- No customer support
- A limited number of assets
- No trading resources for learning
- Only have a market outlook blog
FAQs
Who is behind TriumphFX
If you are referring to TriumphFX Cyprus, then the owner is Triumph Int. (Cyprus) Ltd and has a license number that is 293/16. They are regulated by Cysec.
Where is TriumphFX located?
If you mean TriumphFX Cyprus, then their headquarters are located at Lophitis International Center, 2nd Floor. Corner of Soteri Michaelidi and 28th October Street, CY-3035 Limassol.
When was TriumphFX established
TriumphFX Cyprus was founded in 2009, and its headquarters are based in Cyprus. They are an NDD and STP broker providing financial services to investors, traders, and institutions.
Is TriumphFX regulated in Malaysia
TriumphFX Cyprus is regulated by many authorities, including;
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Authority of Seychelles (FSA)
- Financial Sector Conduct Authority (FSCA)
- Financial Conduct Authority (FCA)
- Financial Services Commission (FSC)
- Italian Companies and Exchange Commission (CONSOB)
- The Financial Agents Register (Regafi)
- The Dutch Authority for the Financial Markets (AFM)
- Federal Financial Supervisory Authority (BaFin)
- The Czech National Bank (Česká národní banka, ČNB)
This means that they are regulated in Malaysia.
Table of content
- TriumphFX Overviews
- Pros and Cons
- Is TriumphFX Safe? Broker Regulations
- What Can I Trade with TriumphFX?
- How to Trade with TriumphFX?
- How Can I Open TriumphFX Account? A Simple Tutorial
- TriumphFX Charts and Analysis
- TriumphFX Account Types
- Do I Have Negative Balance Protection with This Broker?
- TriumphFX Deposits and Withdrawals
- Support Service for Customer
- Prohibited Countries: Where Can I Not Trade with this Broker?
- Special Offers for Customers
- TriumphFX Review Conclusion: Reputable Broker with Easy-to-use Platform
- Summary and Key Takeaways
- FAQs
