At this time, purchasing EASY Bot items is not available to all members. Read more - how to get access to purchase
TriumphFX
In this article, we delve into the operations, offerings, and credibility of TriumphFX, a forex broker with a decade-long presence in the market. Founded in 2010, TriumphFX is regulated by the Cyprus Securities and Exchange Commission (CySEC) for its European operations and by the Financial Services Authority (FSA) of Seychelles for its international division. However, its reputation has been somewhat tarnished by a 2021 fraud notice from the Vanuatu Financial Services Commission and an earlier listing as an unlicensed entity by the Hong Kong Securities and Futures Commission in 2015. TriumphFX's trading platform of choice is the widely-used Metatrader MT4, available in both desktop and mobile versions. The broker offers over 55 forex pairs and precious metals CFDs, with leverage varying based on the division - a maximum of 1:30 for Europe and up to 1:500 internationally. The broker's headquarters are located in Cyprus, with a minimum live account opening balance of $100. TriumphFX offers a range of trading conditions, including the use of Expert Advisors (EAs), news trading, and scalping. Additionally, it provides Managed Accounts and Social Trading through MAM and PAMM. Deposits and withdrawals can be made through various methods including bank transfers, Visa, MasterCard, Neteller, PayPal, and Skrill. As we proceed, we aim to provide a comprehensive and unbiased review of TriumphFX, examining its strengths, weaknesses, and overall suitability for potential traders.
Review TriumphFX
TriumphFX, a Forex broker established in 2010, is known for its extensive range of trading instruments, including over 55 Forex pairs and precious metals CFDs. The broker operates under the regulation of Cyprus Securities and Exchange Commission (CySEC) for its European division and the Financial Services Authority (FSA) of Seychelles for its international operations. However, it's important to note that TriumphFX has faced regulatory issues in the past, including a Notice of Fraud Certificate issued by the Vanuatu Financial Services Commission in 2021.
Trading Platform and Instruments
TriumphFX offers the widely-used Metatrader MT4 as its sole trading platform, available in both desktop and mobile versions. This platform allows traders to access a wide array of trading instruments, including over 55 Forex pairs and precious metals CFDs. The leverage provided by TriumphFX varies, with a limit of 1:30 for the European division and up to 1:500 for the international division.
Brokerage Details
To open a live trading account with TriumphFX, traders need a minimum of $100. The broker allows a minimum trade size of 0.01 and offers a maximum leverage of 500:1. The broker's headquarters is located in Limassol, Cyprus, and they can be contacted at support@triumphfx.com or 35725030337.
Trading Conditions
TriumphFX supports various trading strategies, including the use of Expert Advisors (EAs), news trading, and scalping. Additionally, they offer managed accounts and social trading through MAM and PAMM.
Deposits and Withdrawals
TriumphFX provides multiple options for deposits and withdrawals including Bank Wire, VISA, MasterCard, Neteller, PayPal, and Skrill.
Pros and Cons
TriumphFX has several advantages, such as a wide range of trading instruments, support for various trading strategies, and multiple deposit and withdrawal options. However, the broker's past regulatory issues and limited platform options may be of concern to some traders.
Scammer or Not?
While TriumphFX is regulated by CySEC and the FSA of Seychelles, it's important to note that the broker has faced regulatory issues in the past, including a Notice of Fraud Certificate issued by the Vanuatu Financial Services Commission in 2021. Traders should consider these factors when deciding whether to trade with TriumphFX.
Safety Check
Despite TriumphFX's regulatory status, the broker's past regulatory issues raise questions about its safety. Traders should always conduct thorough research and consider multiple factors before deciding to trade with any broker.
FAQ Section
Q: What is the minimum deposit for TriumphFX?
A: The minimum deposit for opening a live trading account with TriumphFX is $100.
Q: What trading platform does TriumphFX use?
A: TriumphFX uses the Metatrader MT4 platform, available in both desktop and mobile versions.
Q: Does TriumphFX support scalping and news trading?
A: Yes, TriumphFX supports various trading strategies, including scalping and news trading.
For more details and personal experiences with TriumphFX, traders can leave their feedback on the forexroboteasy.com website. This review is an independent evaluation of the company, written in a neutral tone and based on publicly available information.
TriumphFX: Regulated Forex Broker Review 2021
forexroboteasy.com
Write review