Is TriumphFX Legit or Scam?!

Background:

TriumphFX, an online broker specialising in forex and CFD trading, has established itself as a prominent player in the industry, typically in Southeast Asia. Since 2010, the broker has operated using the NDD and STP models of price-based order processing. TriumphFX offers the trading of diverse financial assets, including forex, commodities, and indices.

TriumphFX claims to be a No Dealing Desk (NDD) broker that offers competitive prices through several independent liquidity providers, which include banks and financial institutions.

It is important to note that TriumphFX does not provide its services to entities based in the United States or residents of any kind within the country. While the company welcomes clients worldwide, various factors, including governmental regulations and internal policies, restrict the opening of accounts originating from certain countries. The following list encompasses the restricted and/or OFAC-sanctioned countries, as well as high-risk and non-cooperative jurisdictions from which the company does not accept account registrations: 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.

Accounts Offered:

TriumphFX offers several account types (as illustrated in the images below):

Deposit and Withdrawal Methods:

TriumphFX provides 4 main deposit and withdrawal methods: instant bank transfers, Visa, Mastercard and AliPay.

Trading Platforms:

While TriumphFX does not offer a proprietary trading platform, it provides its customers with the renowned MetaTrader 4 platform. Traders can choose between the widely used MT4 version in browser, desktop, and mobile app formats. Mobile apps cater to Android and iOS users, ensuring flexibility and convenience for traders.

Customer Service:

Upon browsing the official website of TriumphFX, WikiFX realised that there is no contact information provided for trading clients to get in touch with the broker. Contrary to its peers, TriumphFX does not provide the bare minimum of a live chat support system. This is one major shortcoming that reduces the credibility of a broker.

WikiFXs Verdict:

WikiFX is a global forex broker regulatory query platform that houses verified information of over 46,000 forex brokers. We research, review and rate forex brokers from various aspects to prove their credibility.

Our database states that TriumphFX has only a low WikiScore of 2.03 out of 10, which means this is not a reliable broker.

WikiFX also received several complaints about TriumphFX, which its trading clients submitted via our Exposure page.

In conclusion, TriumphFX is a broker that is full of red flags. With so many better options in the industry, WikiFX urges our users to always opt for a broker with at least a WikiScore of 7.0 and above to ensure its reliability is up to par.