In a comprehensive and Up-to-date series of brokers’ analyses, today we are taking on TriumphFx(TXFI), 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. The reason might be the company’s rebranding itself from TriumphFX to TXFI. Whatever the reasons are, this detailed TriumphFx review(TXFI) 2023 will give a clear overview of the broker. 

While researching for this detailed review, we found several complaints regarding the broker being a scam. Noting these points, we move forward to assess the broker’s fee, services & accounts overview. 

Therefore, this in-depthTriumphFX(TXFI) Review 2023 will cover all aspects of the broker’s services and, in the end, we will rate this broker on the basis of our experience. 

TriumphFx(TXFI) Review: Broker Details

Official Websitehttps://www.tfxi.com/
Regulations & LicensesFSA
Minimum Deposit$100
Maximum leverage 1:500
Trading PlatformsMT4, MT5 & Dedicated Mobile App
Funds ProtectionNegative Balance Protection

What Is TriumphFX (TXFI)?

TriumphFx, popular with the name TXFI, is a Seychelles-based Forex and CFD brokerage platform operating since 2009. The platform is owned by TRIUMPH INT. (SC) LIMITED, a seychelles-based company holding a Securities Dealer license.

Ever since its inception, the broker has constantly been updating the list of trading instruments. Today, it allows trades in Forex, Commodities and Indices. 

The broker provides NDD and STP order processing model that is based on price feed from the largest liquidity providers. However, despite holding a European license, the broker restricts to operating in over 30+ countries across Asia and the European region. 

Is TriumphFX(TXFI) A Scam?

Based on our findings, TriumphFX(txfi) seems like a scam. The biggest reason remains its offshore regulations. The broker is regulated by the Financial Service Authority (FSA) Seychelles, which is considered a low-rated regulatory body. 

Last time when we reviewed this broker, we remembered TXFI held CySEC and VFSC licenses, which may seem to be expired by now, as currently, we didn’t find any information regarding these licenses on their official website. 

At the same time, the broker is listed in the warning list of Singapore and Indonesia financial agencies, raising red flags for new users. If you’re too planning to trade with the platform, we strictly advise you not to do so. Instead, choose a more secure and trusted broker – Capitalix. 

What Can Be Traded On Triumphfx(TXFI)?

The product listing of the platform is very distressing, with it being limited to just Indices, Commodities, and Forex markets. Therefore, portfolio diversification is nearly impossible with this broker. This may also add up to the list of reasons why the broker is losing trust among its users. The platform should incorporate Cryptocurrencies and Stocks too. 

Anyway, here’s a list of available products & markets: 

Forex

Commodities

Indices

TriumphFx(txfi) Review 2023: How Many Types Of Accounts Are There?

The broker’s account offering deserves our appreciation, as there are plenty of account types available for every sort of trader. Along with it, the broker offers a free demo account and Swap-free Islamic account for Muslim traders. The available TXFI account types include

Each account type has distinct features and benefits. To get help choosing the best-suited account, please refer to the account comparison table below. 

FeaturesStandard AcountIslamic AccountPremium AccountPlatinum AccountVIP Account
Fixed VariableVariablePlatinum
Minimum Deposit100 USD100 USD100 USD2,000 USD500 USD200 USD5,000 USD
Minimum Spreads1.61.61.60.60.60.60.6
SWAP ChargesYesYesNoNoYesYesYes
CommissionNoNoNo6 USD3 USDNoNo
LeverageUpto 1:500Upto 1:500Upto 1:500Upto 1:500Upto 1:500Upto 1:500Upto 1:500

How To Open A Live Trading Account On Triumphfx(TXFI)?

Opening an account on TriumphFx is no less than a hassle. The servers take too long to respond and the account gets activated in 1-2 days. In between, you can’t access your account. But if you have still made up your mind about the broker, here’s a step-by-step account opening procedure:

TXFI Fees & Commission: How Much Does It Cost To Trade On TriumphFX? 

TriumphFx fee and spread charges depend on the account type you have chosen. With each upgraded account, you can discount in spreads. In addition to spread charges, the broker also charges commission and rollover charges, which are slightly higher than other CFD brokers

Here’s a detailed TriumphFx(TXFI) Fee Structure:

FeaturesStandard AcountIslamic AccountPremium AccountPlatinum AccountVIP Account
Fixed VariableVariablePlatinum
Minimum Spreads1.61.61.60.60.60.60.6
CommissionNoNoNo6 USD3 USDNoNo
RollOver Charges (SWAP)2.5%2.5%N/AN/A2.5%2.5%2.5%

What Are The Available Payment Methods For Deposits & Withdrawals On TriumphFx(TXFI)?

Another key aspect to cover in our TriumphFX(TXFi) review 2023 is to highlight how convenient it is to deposit and withdraw funds from the platform. In this case, the list of supported payment methods is quite impressive, with all popular payment modes available for users’ convenience. 

Additionally, the minimum deposit requirements are in a competitive range, also waiving off deposit Fees is an appreciable step. Let’s take a look at available payment methods for deposits & withdrawals

TXFI(Triumphfx) Review 2023: User Interface & Available Trading Platforms

The TXFI’s user interface looks old and outdated, with limited features. However, it offers to trade through WebTrader, MT4 and a dedicated TXFI mobile app. Still, the unavailability of a more advanced MT5 platform is probably counted among its drawbacks. Anyway, let’s check out the features and benefits of other available trading platforms:

WebTrader

MetaTrader4 (MT4)

TriumphFx(txfi) App

TXFI(Triumphfx) Review 2023: Unique Features & Offerings

Community Trading 

The community trading feature is an advanced version of copy trading that allows you to follow the trades of professional traders and profit from their wins. For every successful trade, you get 70% of the total profits. 

Fund Management

The Fund management facility is specially created for investors. It is actually a group of funds that are handled as a whole by professional traders known as fund managers. Investors make investments and pool their funds.

Affiliate Program

The uniquely designed affiliate program of Triumphfx is something that makes it stand out. However, the unavailability of payout plans is a matter of concern. 

TriumphFX(TXFI) Review 2023: Educational & Research Support

The TXFI doesn’t have a lot to offer in terms of research and educational tools. The limited list of resources may distress beginner traders. In terms of educational tools, the broker offers a short glossary and a series of excellent training videos on Forex basics and market analysis. 

In addition, there are Economic Calendar, Nonfarm Payroll, Daylight Saving Time, along with custom-designed Analytics and News feeds available.

Review of TXFI Customer Support Services

Lastly, we tested the Triumpfx (TXFI) customer support services. You won’t believe it but the most distressing part of trading with this broker is that it lacks customer support. You won’t find a Contact Us section on the website. 

The previous contact numbers of the company were found outdated and not working. There is no live chat support, no phone support and even not a single e-mail support available. All these points strongly indicate TXFi is a scam broker. 

TriumpFX(TXFI) Review 2023: Pros & Cons

ProsCons
In-house free analysis toolsOffshore broker
Professional and retail accountsUnavailability of Stock and Crypto trading
Low Forex fees and good conditionsUnavailability of customer support
Availability of Advance MT4 Platform

Final Verdict On TriumphFx(TXFI) Review 2023

This detailed TriumphFx(TXFI) review indicates the broker is a pure scam and is not worthy of your trust. There are many other reasons to avoid this broker – firstly, the broker’s regulations raise red flags, and there is no customer support & limited product offerings are probably its biggest drawback.

Additionally, TriumphFX is on the list of companies that received red warnings from Singapore and Indonesia financial agencies. The broker has multiple red flags. Overall, we don’t recommend our readers trade with this broker. Instead, you should go for a reliable broker – Capitalix. The broker is well-regulated and offers comprehensive trading services, along with professional customer support. 

FAQs

Can I Trust TriumphFx(TXFI)?

No, Triumpfx can’t be trusted as it holds offshore regulations and is listed in the warning list of Singapore and Indonesia financial agencies, raising red flags for new users.

Is TriumphFx(TXFI) Regulated In Malaysia?

No, the broker or any of its entities is regulated in Malaysia. It is only regulated by the Financial Services Authority (FSA) in Seychelles. 

Who Owns TriumphFx(TXFI)?

The platform is owned by TRIUMPH INT. (SC) LIMITED, a seychelles-based company holding a Securities Dealer license.

How Long Is TriumphFx(TXFI) On The Market?

The broker was launched in 2009, meaning it has been on the market for over 13 years. 

How Do I Withdraw Money From TriumphFx(TXFI)?

The withdrawal request is usually processed in 2-3 business days. The whole process for withdrawing funds is listed below

Is Trading Forex In Malaysia Legal?

Yes, Forex trading is legal in Malaysia. However, traders are only allowed to trade with licensed commercial banks, investment banks, Islamic banks, and international Islamic banks.

Is TriumphFx Halal?

Yes, TriumphFx is a halal broker as it offers SWAP-free Islamic accounts for traders with Muslim Faith. 

How Do I Make Deposits In TFXI?

To start trading on the platform, you’ll need at least $100 to be deposited. Here’s a complete process on how to fund your trading account:

Is TXFI Regulated?

The broker is regulated by the Financial Service Authority (FSA) Seychelles, which is considered a low-rated regulatory body. 

Is TXFI A Good Broker?

TXFI is not a good broker in terms of legality, services, fee structure and customer support. We don’t recommend trading with this broker. 

Why Invest With TriumphFx(TXFI)?

The broker’s features, like Fund Management and community trading, are the reasons to invest with TriumphFx. 

How Do I Delete My TriumphFx Account?

To delete your TXFI account, you’ll need to send your written concern and reason to the broker’s customer support team. 

Is TriumphFx(TXFI) Regulated In Singapore?

No, the broker or any of its entities is regulated in Singapore. It is only regulated by the Financial Services Authority (FSA) in Seychelles. 

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