TriumphFX Review

Minimum Deposit: $100 VISIT BROKER
66.7 % of retail investor accounts lose money when trading CFDs with this provider.

TriumphFX Review

Summary

Founded in 2016, TriumphFX is a regulated broker that is based in Cyprus and provides clients with an easy to use platform for trading forex and precious metals with competitive fees. The broker has a strong commitment in maintaining long term relationship with clients and strives to provide traders and investors with the very best service and most competitive conditions in the industry.

By using a combination of straight-through processing (STP), non-dealing desk (NDD) execution, electronic communication networks (ECN) and stable high-quality price feeds from some of the largest financial institutions, TriumphFX is able to offer low-cost execution to clients, usually reserved only for banks and corporations.

7.6Expert Score
TriumphFX Rating

Safe, swift and reliable trading for foreign exchange and precious metals.

Investment Products
7
Commissions and Fees
8
Platforms and Tools
8
Research and Education
7
Deposit and Withdrawal
8

TriumphFX Review

Pros and Cons

TriumphFX have a minimum deposit requirement of $100 and spreads starting from 0.1 pips. They provide clients with the industry standard MetaTrader 4 platform to trade a limited choice of investment products. They do support various account funding options but are lacking when it comes to educational materials.

No Dealing Desk Broker Model
No Dealing Desk Broker Model

TriumphFX use the Straight Through Processing (STP) execution model. STP is a very popular model of execution, which involves sending the orders of the traders directly to the market without passing them through the dealing desk. When you execute an order, it goes directly to one or more of the brokers liquidity providers based on who provides the best price for the requested volume. This means that there should be no conflict of interest between broker and trader whilst orders should be executed at the best available prices.

Positives
  • User-friendly and versatile MetaTrader 4 platforms
  • Spreads from 0.1 pips
  • No commission fees
  • Fast and reliable order execution speeds
  • STP broker execution model
  • Real quotes streaming from liquidity providers
  • Flexible funding methods
  • Free demo trading accounts
  • Regulated broker
Negatives
  • Minimum deposit of $100
  • Limited trading products (FX and gold/silver only)
  • Limited educational resources
  • Inactivity fee after 12 months

TriumphFX Review

Investment Products

The TriumphFX trading instruments are limited with around 64 to choose from. They only offer currency pairs and gold or silver against the USD (XAG/USD and XAU/USD). Compare this to some other brokers who offer thousands of financial instruments across different asset classes. There are no individual stocks, indices or cryptocurrencies. This can significantly limit client options but may not be a big deal if you just trade forex.

Forex and previous metals are traded as CFDs with TriumphFX. A Contract for Difference (CFD) is a structured financial derivative which replicates the price action and movement of an underlying security or investment product. Thus, clients can speculate long or short on fluctuating prices without needing to take full ownership of the underlying asset.

TriumphFX Instruments Summary

InstrumentsTriumphFX
Forex
Stocksx
Indicesx
Commodities
Cryptosx
Optionsx
Bondsx
ETFsx
CFDs
TriumphFX Instruments

TriumphFX Review

Commission and Fees

Commission and Spread Fees

TriumphFX offers all traders, without exception, the same tight spreads for all account types and trade sizes, without charging any extra fees or commissions. The spreads are variable and start from 0.1 pips. The broker recognizes the fact that tight spreads only make sense if you can trade on them. That is why they attribute such a great importance to their execution quality.

TriumphFX also offers fractional pip pricing to get the best prices from its various liquidity providers. Instead of 4-digit quoting prices, clients can benefit from even the smallest price movements by adding a 5th digit (fraction). With fractional pip pricing you can trade with tighter spreads and enjoy the most accurate quoting possible.

Fee Classic Account Gold Account Premium Account
Commission (per standard lot per side)$0$0$0
Spreads from0.10.10.1
TriumphFX Fees

Deposit and Withdrawal Fees

All international bank wire transfers may be subjected to intermediary bank charges. The charges are determined by your bank, so you will need to consult your sending bank to check any applicable fees. All withdrawals are subjected to intermediary bank charges ranging from 25 USD to 75 USD per transaction. If you are using online payment processors, you can check to see if they will charge you a fee for sending or receiving funds. Keep in mind that here may be a currency conversion fee if transferring funds to an account in a different currency. All costs incurred will be at the expense of the client.

Inactivity Fees

TriumphFX charge clients an inactivity fee which amounts to $5 per month if there hasn’t been any trading activity for at least 12 months.

TriumphFX Review

Platforms and Tools

MetaTrader 4

TriumphFX provide online trading via the widely used MetaTrader 4 platform for desktop, web or the MT4 mobile app. MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients

The powerful MetaTrader 4 trading platform allows you to implement strategies of any complexity. The complex analytical capabilities are one of the MetaTrader 4 platform’s strongest points. If you have not time for trading, there are free and paid signals with various risk levels working on demo and real accounts are at your fingertips.

TriumphFX have multiple MT4 server location across the globe for clients in different locations. This can help to ensure top-notch execution speeds with minimal latency. In a network, latency measures the time it takes for some data to get to its destination across the network. The brokers infrastructure is hosted in top class data centres which are specifically designed to be resilient to comply with the demanding requirements of the financial industry.

MT4 Features

  • Simple and user-friendly interface
  • 2 market orders
  • 4 pending orders
  • 2 stop orders and a trailing stop
  • Interactive charts
  • 3 Major types of forex charts: Bars, Candlesticks and Line Chart
  • 9 timeframes
  • 23 analytical objects
  • 30 technical indicators
  • Ability to use as many indicators on one chart
  • Multiple chart setups
  • Automated trading
  • Thousands of trading signal providers
  • Thousands of trading strategies
TriumphFX Platform
TriumphFX Platform

TriumphFX Platforms Summary

PlatformTriumphFX
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTraderx
Proprietaryx
Desktop
Web
Mobile
Social Tradingx
Otherx
TriumphFX Platforms

TriumphFX Review

Research and Education

Whilst there is a dedicated educational area on the brokers website that includes some basic forex trading guides, we believe that they could expand on this. We would like to see more complex topics covered in detail and perhaps some video tutorials.

That being said, there is enough basic information to help inform those who are new to the world of online trading. Learn from topics such as the following: what is Forex — pips, spreads, charts, interpretations, strategies, risk and trading psychology. There is also a Forex Glossary that contains all of the key jargon that you need to know in trading.

Market Analysis

TriumphFX do a great job in providing frequently updated market analysis which can be a great way to get inspiration for trading various global markets. You will find detailed analysis on current price activity along with screenshots for clarification.

Economic Calendar

The Forex calendar chronologically shows upcoming economic and political events, statistics and analytics. It provides traders and analysts with the information needed to try and predict the long-term trends and keep track of the latest market news.

TriumphFX Research and Education Summary

ResourcesTriumphFX
Market Analysis
Guides
Videosx
Webinarsx
Autochartistx
Trading Centralx
Economic Calendar
Otherx
TriumphFX Resources

TriumphFX Review

Deposit and Withdrawal

You can fund your TriumphFX account via bank wire transfer, credit/debit card and some online payment processors. If using bank transfer, your deposits will be processed within 2-3 business days from the day your funds were sent from your bank account. After confirmation of your deposits, your funds will be immediately credited into your trading account. E-wallet payments can be much quicker, with funds instantly available in your account.

TriumphFX Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptosxx
TriumphFX Funding Options

TriumphFX Review

Regulation and Safety

TriumphFX is a brand owned and operated by Triumph Int. (Cyprus) Limited authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). As an EU member state, CySEC’s financial regulations and operations comply with the European MiFID financial harmonization law.

TriumphFX is also registered with the Vanuatu Financial Services commission (VFSC). The main role of the VFSC is to administer the registry of companies. It also has the powers to regulate, monitor, and supervise the non-banking financial sector of Vanuatu, protecting the public from loss and fraud, promoting Vanuatu as an international jurisdiction, and enforcing compliance.

TriumphFX Regulation Summary

RegulatorTriumphFX
ASIC (Australia)x
IIROC (Canada)x
CySEC (Cyprus)
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
FCA (UK)x
CFTC (USA)x
Other (VFSC)
TriumphFX Regulators

TriumphFX Safety

TriumphFX state that they offer investor protection by segregating funds. Segregated client funds are separated from the firm’s operational accounts. The clients’ funds are kept in leading investment global banks.

The broker also offers negative balance protection. They state that your live trading account balance is always protected from dipping into a negative status and they will absorb the loss if it does.

TriumphFX Review

Client Support

TriumphFX have an approachable customer service team that you can contact through email, telephone and by completing an online form on the brokers website. We think that it could be beneficial if they could add a live chat option in the future as we find that is a convenient way to speak directly with a broker before opening an account.

TriumphFX Review

Conclusion

TriumphFX have user-friendly trading platforms that give clients the ability to trade with ease from anywhere, via computer or mobile phone, helping to make trading online easier than ever before. The brokers development team is always working to create innovative products and services that are designed to help investors make the most of their trading experiences. Whether you are a new retail trader or experience pro, TriumphFX have competitive trading conditions for everyone. However, the brokers financial instruments are limited to currency pairs and precious metals. They could also improve on the educational resources that are available to traders.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

TriumphFX Review

FAQs

When was TriumphFX founded?

TriumphFX was founded in 2016.

Where is TriumphFX located?

TriumphFX are based in Cyprus.

Is TriumphFX regulated?

TriumphFX are regulated by CySEC and VFSC.

What trading instruments does TriumphFX offer?

TriumphFX offer CFDs on forex and precious metals.

What is the TriumphFX minimum deposit?

There is a $100 minimum deposit requirement.

What investing platforms does TriumphFX offer?

TriumphFX provide clients with the MT4 platform for web, desktop and mobile, free of charge.

What is TriumphFX’s commission fee?

TriumphFX do not charge a commission fee as it is included within the spreads.

Does TriumphFX charge an inactivity fee?

Yes, there is an inactivity fee of $5 per month which kicks in if you leave your account dormant for 12 months.

What are TriumphFX’s spreads?

TriumphFX have variable spreads starting from 0.1 pips.

What funding options does TriumphFX offer?

TriumphFX accounts can be funded by bank transfer, card payments or e-wallets.

Does TriumphFX offer demo trading?

Yes, there is the option of a free TriumphFX demo account.

Does TriumphFX offer Islamic accounts?

TriumphFX do have Islamic accounts that are swap-free for Muslim traders.

How do I contact TriumphFX customer support?

You can reach TriumphFX support via email, telephone and a short web form.
TriumphFX Review
TriumphFX Review
Minimum Deposit: $100
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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