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.
🧐 Is TriumphFX a Scam?
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.
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.
- Our team supposes that this could be true, as the SFC does not target this domain.
- And of course, always learn how to use leverage smartly in order not to fall under inefficient risks.
- Apart from educational resources, there are several trading tools to assist traders in market analysis and increase decision-making accuracy.
- However, the broker doesn’t share any information about its availability in different countries.
- In addition to spread charges, the broker also charges commission and rollover charges, which are slightly higher than other CFD brokers.
- From its established TriumphFX main aim was to democratize Forex trading and make it available for any investor, despite his experience or amount of money.
It’s crucial to note that TriumphFX has been the subject of scrutiny by various Asian regulators. So, this indicates that the approved domain (date highlighted in green in the image above) in the CySEC regulation is not used to conduct suspicious operations. The broker makes the Forex glossary available to its clients, including a suite of forex essentials that guides you thoroughly on forex marketing and how strategies are utilized. Triumph FX is one of the brilliant choices for aspiring forex traders. The broker gets regulation from Cyprus Security Exchange Community (CySEC). In addition, some small regulators also give licenses to the broker.
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.
Investment in Asset Classes or Markets by TriumphFX
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.
Account types available for traders on TriumphFX
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.
If you are also 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 XM fees
Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited. We are certified stock broker review & comparison website working with multiple partners. But it’s worth noting that the exact time schedule of TriumphFX can be different. Hence, for clear insight, you should stay updated with the real market. However, at first glance, the account offering in each account sounds similar.
- TriumphFX defined its pricing strategy based on low spreads and a fractional trading basis, so you will benefit from better pricing all performed with trading consistency TriumphFX provides.
- So, this indicates that the approved domain (date highlighted in green in the image above) in the CySEC regulation is not used to conduct suspicious operations.
- When i widraw i need to pay 10% and after i pay the commision i need to pay bitcoin again.
- Hi Impy,You can browse to the homepage of both triumphfx.com and tfxi.com.
TriumphFX is an EU-registered Cyprus-based forex broker which deals mostly through CFDs, but there isn’t much feedback about it online since it seems to be a by-invitation only operation. When it comes to Precious Metals, TriumphFX enables investors to trade Gold and Silver against USD. For this category of investment, the company uses the same criteria for leverage and utilises the CTrader platform to execute trades. You might have already heard of TriumphFX, and there’s a chance you haven’t heard many positive things about this forex trading platform. I’ve deposited $500 here to check TriumphFX out (my friend reccommended them to me).
Feedback
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.
Regarding educational tools, the broker offers a short glossary and a series of excellent training videos on Forex basics and market analysis. Another key aspect to cover in our TriumphFX review 2024 is highlighting how convenient it is to deposit and withdraw funds from the platform. In this case, the list of gm trader triumphfx supported payment methods is impressive, with all popular payment modes available for users’ convenience. However, the broker is listed in the warning list of Singapore and Indonesia financial agencies, raising red flags for new users over its security & safety. Moreover, the broker’s core business model is a Ponzi triumphfx pyramid scheme, another red flag to watch out for.
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.