Is TriumphFX regulated? The short answer is yes, the TriumphFX owner Triumph Int. (Cyprus) Limited is registered with CySEC, the legitimate regulator of Cyprus. However, the broker also has an offshore branch, Triumph Int. Limited, based in Vanuatu.
This means that some clients might not be under the protection of CySEC, but only weak international protections. This has led to many Triumph FX complaints.
|Broker status:||Regulated Offshore Broker|
|Regulated by:||CySEC, FSC|
|Operating Status:||Forex Scam Broker (Forex Trading Scam)|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Triumph Int. (Cyprus) Limited|
|Trading Platforms:||MetaTrader 4|
|Trading Assets:||Forex, CFDs|
|Maximum Leverage:||1:500 (Professional accounts)|
|Islamic Account:||Yes, Available|
|Free Demo Account:||Yes|
|Accepts US clients:||US traders are not accepted|
Regulation and Licensing – A Major Red Flag
It isn’t uncommon for large brokers to have registrations in multiple countries. The TriumphFX regulation section of their website claims to have a registration with the UK’s FCA, but they don’t.
The given registration number doesn’t bring up any company at all, and their name is not in the register. Claiming to be authorized to offer services somewhere they aren’t is an indicator that you could be scammed by TriumphFX.
TriumphFX Reviews – Reveal the Truth
Our TriumphFX review deep dive into their past shows what they’re up to. There are many former clients with complaints about the broker alleging withdrawal issues. They believe they’re registering with a CySEC regulated broker but end up under the Vanuatu entity instead and lose all protections.
TriumphFX Trading Platform Review
This brokerage company lets users access the popular MetaTrader 4 platform in all of its versions, desktop and mobile.
TriumphFX MT4 – MetaTrader 4
Of course, the TriumphFX trading platform delivers the standard features that any broker has with MetaTrader4. There are many intuitive chartings tools and indicators, and there’s also a free demo to try it out ahead of time.
TriumphFX App – Is Mobile Trading Available?
Yes, you can trade with TriumphFX through MetaTrader 4’s popular iOS and Android apps. They have most of the functionality of the desktop app, and they’re easy to navigate and use. Traders will have no trouble getting the apps installed and trading on the go.
TriumphFX Copy Trading
Unfortunately, the only addition TriumphFX makes is copy trading. They call their version of this common practice “Community Trading.” Essentially, you set your account to autopilot, and it copies the trades of successful traders on the platform.
This TriumphFX scam puts you at risk of losing a lot of money because even the best traders don’t get it right all the time. Copy-trading offers low-risk profits, but it’s one of the riskiest moves you can make.
Which Countries Does TriumphFX Accept or Reject?
There are two entities within TriumphFX, and so the answer is different for both. The CySEC regulated branch, at least in theory, only accepts traders within the European Union, as their financial regulations allow for free exchange between member nations.
The other entity, based in Vanuatu, is an offshore broker that accepts clients from almost anywhere, regardless of authorization. They do have a disclaimer on their website that lists countries they at least nominally reject business from, although it isn’t clear how effective this is in practice.
These include the USA and a number of OFAC sanctioned countries. This entity also refuses clients from Cyprus, as it would interfere with the more legitimate Cyprus branch activities.
TriumphFX Trading Products
Company has relatively few different assets available, although their TriumphFX forex selection covers many major, minor, and exotic pairs. They also have CFDs but only on precious metals, lacking the typical stocks, indices, and other options found with other brokers.
TriumphFX Trading Accounts – Account Types
Broker offers several different account types, with standard or fixed spreads.
- Standard Fixed
- Standard Variable
The TriumphFX minimum deposit is just $100 for the standard accounts but runs up to $5,000 for the VIP. Higher accounts get better spreads, along with better bonuses.
TriumphFX Deposit Bonuses
Giveaways and bonuses of all sorts are common ways for shady brokers to bring in new victims. Right now, the TriumphFX broker is offering a massive giveaway of Apple and other products, ending at the end of 2021.
TriumphFX Withdrawal Issues – Unable to Withdraw Funds
Now the big reason that former clients claim to be victims of the TriumphFX trading scam issues with withdrawals. They’ll often find themselves unable to make a withdrawal despite not having violated any terms and conditions.
It seems like broker just wants to keep the trader’s money.
Scammed by TriumphFX? Get Reliable Help!
You’re far from the only victim of the TriumphFX scam. There have been many complaints, and we’re here to help. Don’t let claims of withdrawal issues allow them to keep your money. You can initiate a chargeback to recover your rightful funds.
Our team specializes in fighting online investment scams, so contact us through our online chat for your free consultation.
Don’t Let the Scammers Go Away for Free!
What is TriumphFX, and Should I Invest Money in it?
It is a broker with two legally distinct operations. It’s not worth risking investing with either one.
Is TriumphFX Legit or a Scam?
It seems to depend on which entity your money ends up with, but I wouldn’t take those chances.
Does TriumphFX Offer a Demo Account?
Yes, potential clients can try out MetaTrader 4 and take a look at broker’s sparse offerings.
Does Triumph Markets Have a Downloadable Mobile App?
Yes, you can trade with the broker on any device through either iOS or Android apps.
Is TriumphFX Available in the United States?
No, neither of the two legal entities of the broker has any authorization to offer services to US citizens.