Triumph FX Review 2023

1.8
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Triumph FX offers fixed and floating spread accounts with copy trading, MT4 downloads, and high leverage.

Pros

  • Demo account
  • MT4 integration
  • Copy trading
  • Low minimum deposit

Cons

  • Weak regulatory oversight
Awards
  • The Best Forex Broker 2021
  • Best Trading Platform 2021
  • Fastest Growing Broker 2021
InstrumentsCFDs, Commodities, Forex, Indices
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 Lots
Regulated ByFSA
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountYes
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsAndroid
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingNo
TournamentsNo
Demo CompetitionsNo
Managed AccountsYes
Market MakerNo
Auto TradingEAs
Social TradingYes
Copy TradingYes
Trade SignalsMT4
Islamic AccountYes
Account Currencies
  • USD
  • EUR
  • GBP
Guaranteed Stop LossNo
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hong Kong Stock Exchange
  • IBEX 35
  • Nasdaq
  • S&P 500
  • SIX Swiss Exchange
Commodities
  • Gold
  • Oil
  • Silver
CFD TradingTrade CFDs with flexible leverage and multiple accounts and pricing models.
CFD FTSE SpreadNA
CFD GBPUSD SpreadFrom 1.6 pips (Standard Account)
CFD Oil SpreadFrom 1.6 pips (Standard Account)
CFD Stocks SpreadNA
CFD Leverage1:500
Forex TradingTrade currencies with a choice of fixed or floating spreads.
Forex GBPUSD SpreadFrom 1.6 pips (Standard Account)
Forex EURUSD SpreadFrom 1.6 pips (Standard Account)
Forex EURGBP SpreadFrom 1.6 pips (Standard Account)
Forex Assets60
Risk Warning – Your capital is at risk

Triumph FX, or TFXI, is a CFD broker offering 110+ instruments across three major asset classes. Day traders can access the MetaTrader 4 terminal, as well as a proprietary mobile app, copy trading platform, and basic educational content. This 2023 review of TFXI.com will cover how to register and login into a new account, deposit and withdrawal methods, commissions, customer service details, and more.

Company Details

TFXI, full name Triumph FX, was established in 2010. Traders can speculate on forex, commodities, and indices, while copy trading and professional fund management services are available.

The broker offers STP execution, with no dealing desk intermediary. All orders are processed directly through liquidity providers. Trading operations are executed via Equinix data centers offering low latency in a secure investing environment. This means the broker can execute up to 2000 trades per second.

TFXI is registered in the Seychelles and regulated by the Financial Services Authority (FSA).

Scam Concerns

TFXI’s company details are kept relatively discreet. Sources quote Hermes Leong as the owner and founder of the online brokerage. However, our research has indicated that Leong has been involved in several fraudulent activities and multi-level marketing (MLM) Ponzi schemes.

As a result, there is speculation that TriumphFX may also be a fraudulent business.

Triumph FX Platform

TFXI’s main platform is MetaTrader 4 (MT4). MT4 is available as a free download or can be used as a WebTrader.

Commonly associated with forex, MT4 can also be used to trade indices and commodities via contracts for difference (CFDs).

The one-stop solution provides all the features and tools needed to execute trades. Investments can be analyzed with in-built technical indicators including Bollinger Bands and Moving Averages, graphical tools such as shapes, arrows, and lines, and various order types and execution styles. Day traders can also choose from multiple time frames including 1 minute, 5 minutes, 1 hour, and daily.

One-click execution is available for day traders looking for quick market access. Alternatively, users can trade directly from charts.

TXFI trading platform
MetaTrader 4

How To Place A Trade

The easiest way to place a trade on the MetaTrader 4 platform is via the ‘New Order’ window. The icon can be found second from the left in the top menu bar.

In the new window, select the symbol you want to trade and enter the desired investment size (in lots). Select ‘Market Execution’ under ‘Order Type’ to trade at the current price.

TFXI how to trade tutorial
New Order

Assets & Markets

TFXI offers 110+ CFD instruments. This includes 20 currency pairs including EUR/USD, GBP/USD, and USD/JPY. Day traders can also access precious metals, energies and some of the world’s largest stock indices such as the AUS200, EU50, and DE30.

Retail investors can hold up to 200 positions at the same time, including pending orders.

99.35% of orders are executed in less than one second at Triumph FX.

Fund Management

The broker also offers fund management products. But although the service is facilitated by TriumphFX, the ’experts’ have no affiliation with the brokerage.

Investors provide personal funds to the pool of fund managers, and in turn, trades are executed on a 4-5 week cycle.

There is a minimum investment requirement of $1000.

Triumph FX Spreads & Fees

TFXI offers various pricing models. This includes commission-free, fixed and floating spread plans, or tight spread accounts with commission charges.

Standard Fixed

Standard Variable

Premium

Platinum

VIP

The broker offers 5-digit price quotes meaning day traders can benefit from the smallest fluctuations.

Overnight rollover fees apply for positions held after 22:00 GMT.

TFXI Leverage

As an offshore entity, Triumph FX can offer high leverage up to 1:500. This means $1 of investment capital could provide $500 of purchasing power using borrowed funds from the broker.

Although high leverage can increase profit potential, losses will be amplified. With this in mind, use suitable risk management parameters.

Mobile App

While using TFXI, our experts found a proprietary mobile app, available to download on Android (APK) devices. The application is not currently compatible with iOS.

The interface is modern, with a sleek design meaning a seamless experience between the desktop terminal and the client dashboard on mobile. The application enables retail investors to transfer funds, contact the customer support team, view profit and loss statements, and check trading history. There are 50,000+ downloads on the Google Play Store, with a 4.1/5 rating.

Alternatively, MetaTrader 4 offers mobile investing opportunities. The app integrates custom zoom and scroll charting for small screens, price alerts and notification settings, and permits traders to open and close positions at the click of a button.

Payment Methods

Triumph FX provides secure deposits and withdrawals via bank transfers and credit/debit cards.

The broker does not charge fees, however, third-party funding costs may apply. For any payments over $500, TriumphFX will reimburse fees to a maximum of $70.

TFXI processes all payment requests within two to three working days and funds will be available instantly following approval.

TriumphFX accepts withdrawals via bank wire transfer only. Intermediary bank charges between $25 to $75 per transaction apply.

Withdrawals are processed two to five working days after a request but the time taken for funds to be received will vary between financial institutions.

How To Deposit To A Triumph FX Account

  1. Log in to the TFXI online client portal
  2. Click on ‘My Account’
  3. Select ‘Online Deposits’
  4. Choose the payment method
  5. Complete the payment details and follow the on-screen instructions
  6. Click ‘Deposit’

Demo Account

When we used TFXI, we found the broker offers a free demo account on the MetaTrader 4 terminal. The practice profile is ideal for beginners looking to learn the features of the platform before committing personal funds in a live environment.

Day traders can access the demo account via the TFXI website. Click on MetaTrader 4 or WebTrader icon and sign up. Choose a leverage ratio and virtual funding amount to practice trading.

Deals & Promotions

Triumph FX does not offer any joining bonuses.

However, rebates are available based on volumes with rewards and prizes available. This includes a $1 rebate for trades between 0.01 and 99.99 lots, a $2 rebate for trades between 100 and 499.99 lots, and a $3 rebate for trades above 500 lots on the Standard Fixed/Floating and Premium accounts.

Regulation & Licensing

TFXI is regulated offshore as a ‘Securities Dealer’ by the Seychelles Financial Services Authority (FSA), registration number SD080. The licensed company name is Triumph Int (SC) Limited.

Although this is not one of the most prestigious regulatory bodies, the broker does still offer negative balance protection and secured funds in tier 1 banks.

Triumph FX Additional Features

Education

Educational materials offered by TFXI are basic, however, they can help beginners looking to learn the fundamentals of forex trading. This includes a glossary of key terms, how to interpret charts, and some simple forex strategies.

For more experienced traders, the broker publishes weekly market analysis including global interest rate changes and instrument trends. An economic calendar is also available. The table provides details of upcoming financial events, data analysis, and company news.

There is no blog style-forum, yield ratios, or exchange rate calculators.

TFXI economic calendar
Economic Calendar

Nonfarm Payroll

A unique data set offered by TFXI is the NFP.

Nonfarm payroll is one of the most anticipated news releases, used as an economic indicator for the US financial markets. The statistics indicate the job creation and employment status in the country on a monthly basis. This information is important to traders, as often, there is an increase in volatility around the time of the Nonfarm payroll.

Note, this data excludes the agriculture industry.

Community Trading

The Triumph FX Community Trading platform is a copy trading service available to all retail investors. There is a minimum investment amount of $100 per copied strategy, but users can copy an unlimited number of ‘professional’ traders at any time. Day traders can benefit from 70% of the copied position’s profits.

Users can access the community trading platform directly through the client dashboard. Simply select the expert traders to follow, enter an investment amount, and start copying.

The tool is ideal for beginners with no prior experience, or for traders looking for a hands-off approach to investing.

Account Types

TriumphFX offers seven account types. The profiles offer varying trading conditions, though all have leverage up to 1:500.

Standard Fixed

Standard Variable

Islamic Variable

Premium

Platinum

Islamic Platinum

VIP

How To Open An Account

  1. Click on ‘Register’ on the TFXI website
  2. Complete the registration form including nationality, email, and phone number
  3. Add additional personal details about your trading experience and employment status
  4. Review the legal and tax compliance documents
  5. Click ‘Submit’

Benefits Of Triumph FX

Drawbacks Of Triumph FX

Opening Hours

TFXI’s trading hours vary by market opening times. Forex, for example, is available 24 hours a day Monday to Thursday. On Friday FX is available from 12 AM to 9 PM (UTC) and Sunday from 9 PM to 12 AM (UTC).

An updated operating hours schedule is available on the TriumphFX website, reflective of winter and summer time zones. There is also a holiday hours page by month.

Customer Service

The customer support offered by TFXI is limited. There is no contact number or live chat service.

An email address is available (support@tfxi.com). Alternatively, the broker is active on social media including Facebook and LinkedIn. Access the latest company news, crypto purchasing updates, and referral information.

Our experts were disappointed to see no FAQ section, meaning no self-help guidance on withdrawal problems, proof of residence upload support, and login issues.

Security & Safety

Triumph FX uses Cisco and Arista infrastructure to safeguard investors’ personal information and data. Additionally, all software undergoes routine audit operations to reduce the likelihood of scams and exposure to potential hacks. Stand-by hardware is available, in the case of server slow time or the website going down.

The broker’s mobile app has two-factor authentication (2FA) security and fingerprint login options. The MetaTrader terminal utilizes encryption technology and RSA digital signatures.

TFXI Verdict

TFXI offers multiple account options with variable trading conditions. Day traders can also make use of copy trading services, high leverage, and the industry-renowned MetaTrader 4 platform.

Having said that, there are some concerns about the legitimacy of the firm. Paired with the offshore regulatory status, we cannot be confident that Triumph FX offers a secure and safe trading environment. See our list of alternatives below.

Accepted Countries

Triumph FX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Triumph FX from United States, Afghanistan, Botswana, Cote D’Ivoire, Cuba, Egypt, Gambia, Ghana, Guinea-Bissau, Guinea, Iran, Iraq, Kyrgyzstan, Lesotho, Liberia, Libya, Mali, Niger, Korea, Russian Federation, Senegal, Sierra Leone, Somalia, Syria, Tajikistan, Togo, Turkmenistan, Congo DR, Uzbekistan, Yemen, Zimbabwe.

Compare Triumph FX

Compare Triumph FX with similar brokers that accept traders from your location. Among available brokers these are the most similar to Triumph FX:

  1. Kwakol Markets – Kwakol offers trading on the MT4 & MT5 platforms with high leverage & copy trading.
  2. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
  3. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  4. ForexChief – ForexChief is a foreign exchange and CFD broker with offshore regulation and access to both MT4 and MT5 trading platforms.

Triumph FX Comparison Table

Compare Triumph FX With Similar Brokers
Triumph FX Kwakol Markets World Forex InstaForex ForexChief
Rating 1.8 2.4 4 4.1 3.3
Markets CFDs, Commodities, Forex, Indices CFDs, Stocks, Indices, Commodities, Forex, Cryptos Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $100 $1 $1 $/€1 $10
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots 0.01 lots
Regulators FSA ASIC, FINTRAC SVGFSA BVI FSC VFSC
Bonus 100% Deposit Bonus 30% – 100% Welcome Bonus $100 no deposit
Education No No No No No
Platforms MT4 MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5
Leverage 1:500 1:1000 1:1000 1:1000 1:1,000
Payment Methods 5 4 10 9 9
Visit
Review Triumph FX
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InstaForex
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ForexChief
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Compare Trading Instruments

Compare the markets and instruments offered by Triumph FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Triumph FX Trading Instruments
Triumph FX Kwakol Markets World Forex InstaForex ForexChief
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes No
Gold Yes Yes Yes Yes Yes
Copper No Yes No Yes No
Silver Yes Yes Yes Yes Yes
Corn No No No No No
Crypto No Yes Yes Yes Yes
Futures No No No Yes No
Options No No No No No
ETFs No No No Yes No
Bonds No No No No No
Warrants No No No No No
Spreadbetting No No No No No
Volatility Index No No No No No

Triumph FX vs Other Brokers

Compare Triumph FX with any other broker by selecting the other broker below.

Triumph FX vs

FAQ

How Do I Withdraw Money From A TFXI Account?

To withdraw funds from a Triumph FX account, visit TFXI.SC and log in to the client dashboard. Select ‘My Account’ and then ‘Withdrawals’. Complete the ‘New Withdrawals’ tab. Submit the request.

The broker’s processing times are relatively slow, with withdrawals reviewed within two to five working days.

Is Triumph FX Safe And Legit?

There are several scam concerns surrounding the broker’s legitimacy and safety. The broker is regulated offshore and the company has faced legal action and been reprimanded by financial bodies, including the Securities Commission Malaysia.

Is TFXI Regulated?

Triumph FX is regulated offshore as a ‘Securities Dealer’ by the Seychelles Financial Services Authority (FSA), registration number SD080. This is not a tier-one financial regulator.

TFXI was banned by Indonesian authorities due to investment fraud and scam allegations in 2021.

What Is The Difference Between TFXI And TriumphFX?

There is no difference between TFXI and TriumphFX. TFXI is an acronym of TriumphFX.

Triumph FX offers fixed and floating spread accounts with copy trading, MT4 downloads, and high leverage.