It seems like everyone is very helpful until it comes to withdrawing money. If you’re thinking about trading online, DO NOT join triumphantexchange. I joined in February and when I wanted to make a withdrawal they blocked my Acc and asked me for 10 percent deposit again before.
TriumphFX Rating & Reviews by Top10StockBroker
- Of course, as any broker TriumphFX supporting g its clients in various ways and available only through working hours with its Cyprus office.
- Fund managers usually call for profit sharing once per 5 weeks or more.
- Most of the problems come from subsidiaries that allegedly directly relate to the company and are targeted at non-English speakers, more precisely Asian investors.
- You find TriumphFX your one-stop solution, especially if you are a forex trader.
This bold action has resulted in their funds being completely controlled by TriumphFX. In a comprehensive and up-to-date series of brokers’ analyses, today we are taking on TriumphFX, the world’s leading and most controversial broker in the industry. Having been operating for over 10 years, the broker gradually loses confidence among its active users.
This constitutes another significant drawback for the platform, further contributing to the existing trust issues. In summary, the promise was that TFX would always be worth a minimum of 1 USDT. However, returns from investments earned in USD couldn’t be paid in dollars; instead, they had to be converted to TFX.
Markets
Furthermore, MAS also targets other domains allegedly used to sponsor suspicious activities aimed at non-English-speaking investors in Asia and not approved by CySEC. This occurred as Triumph International Limited or its affiliated companies acquired another licensed business from the European Union, enabling legal operations. The execution technology used is Straight Through Processing (STP), meaning all orders received by TriumphFX are directed to liquidity providers based on who provides the best price to the broker. In addition, you can also enter CFD trading to enjoy more profitability.
Review of TriumphFX Customer Support Services
The TriumphFX website domain (“tfxi.com”) was first registered on January 12th, 2008. The domain registration details were last updated on April 24th, 2016. So avoid fall into scammer website which name similarly triumphfx. SGD 10 referring to UOB bank SG, my other friend using DBS seems lower than 10sgd fees from her calculation. I am interested to diversify my investment into this field under a professional guidance.
So, we decided to make a deeper review of TriumphFX (under the triumphfx.com domain authorised by CySEC). These allegations are documented on Trustpilot, where TriumphFX received a rating of 2.0 based on over 500 reviews. Additionally, a noteworthy trend has emerged within a Malaysian Investment Group on Reddit, where clients share their experiences regarding TriumphFX’s utilization of an MLM structure in Asia.
TriumphFX Review – Online Platforms, Commission, Leverage, Account Types, Features & more
The TriumphFX compensation plan states that unilevel commissions are ‘generated from 30% of the Trading Profits from client’s accounts‘. TriumphFX has no retailable products or services, with affiliates only able to market TriumphFX affiliate membership itself. Hi, i have just started investing with tfxi/triumph fx recently.
If you are also gm trader triumphfx a mobile trader, then this mobile app is more likely to help you in multiple ways. Unfortunately, unlike other online brokerage firms, TriumphFX doesn’t provide multi-language support to its users. Joel Benedict founded the trading platform in 2010, which has been drawing positive responses for its trading service. The choice of a broker can make or break your dream of becoming a successful trader. Therefore, it is always advisable to review your broker carefully before proceeding. (Cyprus) LIMITED, TriumphFX is an online Forex and CFD broker that has been in operation since 2009.
TriumphFX fees compared to Interactive Brokers fees
- It’s crucial to note that TriumphFX has been the subject of scrutiny by various Asian regulators.
- Moreover, TriumphFX is a subsidiary of a Cyprus-based company Triumph Ltd. making it a reliable trading platform.
- (Cyprus) LIMITED, TriumphFX is an online Forex and CFD broker that has been in operation since 2009.
- Hi Alex, how long does it usually take for the money you withdraw to arrive in your bank account?
However, it offers to trade through WebTrader, MT4 and a dedicated TriumphFX mobile app. The broker provides an NDD and STP order processing model based on price feed from the largest liquidity providers. However, despite holding a European license, the broker is restricted to provide services in over 30+ countries across Asia and the European region.
The broker may seem legitimate, but its inclusion in financial agencies’ grey lists means there is a risk of being scammed, as per our findings from the detailed TriumphFX Review. TriumphFX is not a scam because of its heavy regulatory licenses to operate in the financial market. The brokerage company is authorised and regulated by the Cyprus Securities Exchange Commission under license number 293/16, which can be evidence of its legitimacy. However, some of its offshore branches have uncertain regulations that raise concerns about its legitimacy. 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 is a reliable CySEC regulated broker with a good trading platform, costs, and easy account opening also various funding methods are supported.
This may also add to why the brokerage company is losing user trust. The platform should incorporate Cryptocurrencies and Stocks too. The product listing of Triumph FX is very distressing, limited to just Indices, Commodities, and Forex markets. Therefore, portfolio diversification is nearly impossible with this broker.
However, this choice isn’t surprising because most online trading platforms have at least one Meta Trader trading platform to offer. The broker doesn’t have much to offer regarding research and educational tools. The limited list of resources may distress beginner traders.
Europe-based clients can use TriumphFX without any hassles. However, the broker doesn’t share any information about its availability in different countries. Trading charges, accepted countries, features, and benefits of Triumph FX, we have covered everything in brief in the discussion below. Triumphfx and tfxi are the same and referred to by either name.