TriumphFX is primarily a foreign exchange broker that provides access to online markets with favorable trading conditions using the intuitive MetaTrader 4 (MT4) platforms that are available for desktop, web, and mobile devices (iOS & Android). The minimal costs, the speedy trade execution speeds, and the narrow spreads all leave a positive impression on me. I appreciate that there is a selection of trading account types available to pick from, as well as a number of simple financing choices, including digital wallets. They also give daily market research to assist with the generation of ideas for potential trades, and they make a respectable quantity of free instructional information available so that beginners may learn how to trade. Having said that, there are a few restrictions, which will be discussed further on in this review.
You will find that the financial and investment services offered by TriumphFX are among the most competitive available. They are dedicated to developing long-term connections with their customers and work tirelessly to provide trustworthy brokerage services to traders hailing from a variety of walks of life, helping to ensure that the financial markets are open to anybody who is interested in participating in them. They offer everything you need to get started with the fewest possible hassles, regardless of how much experience you have already had. In order to gain a feel for trading before making a financial commitment, you have the option of opening a free demo account or making a minimum deposit of just $100. Either way, the minimum deposit is rather cheap.
In my opinion, the forex broker is in a position to offer a workable solution to retail as well as institutional clients that are interested in trading forex. This is due to the fact that they receive their liquidity from many banks, which helps to guarantee that they can provide dependable transaction execution speeds and narrow spreads. They have the infrastructure in place to guarantee that you obtain some of the finest currency quotations imaginable, regardless of the volume of business that you conduct with them, whether it little or huge. There are a variety of adjustable alternatives for leverage, but the ones to which you have access will be determined by your degree of experience. If you want a bigger leverage, you may want to consider InstaForex because they provide leverage of up to 1:1000.
The trading infrastructure is housed in Equinix's data centers, which are among the best in the market and are built to be very reliable in order to meet the standards of the financial sector. Their live primary trade server as well as their failover primary trade server are both hosted in data centers that feature cutting-edge hardware at each level. This includes application servers, storage solutions, network devices, dedicated fiber connections, and redundant Internet service provider connectivity. TriumphFX is able to provide you with a safe, redundant, and low-latency environment as a result of the fact that each data center setup is wholly owned by the company and was created with the emphasis on real-time applications.
Straight-through processing (STP), non-dealing desk execution (NDD), electronic communication networks (ECN), and consistent, high-quality price feeds from some of the world's major financial institutions are all incorporated into TriumphFX's trading platform. When you execute a trading position, it is sent immediately to one or more of the liquidity providers (LPs) of the broker, depending on who offers the cheapest price for the necessary volume at that particular time.
They make the claim that there are no dealers sitting in between the broker and the trader to interfere with transactions, but at the same time, they provide fixed spread accounts, which are often utilized by brokerages that utilize a market maker model. Despite this, I believe that the execution speeds and pricing are more than sufficient to fulfill the requirements of traders that use a variety of trading techniques.
For its business in Europe, TriumphFX is subject to the rules and guidelines established by the Cyprus Securities and Exchange Commission (CySEC). The following are the responsibilities held by CySEC: The purpose of this function is to exercise supervision and control over the functioning of the Cyprus Stock Exchange as well as the transactions that take place inside the Stock Exchange, its listed businesses, brokers, and brokerage firms. Trading with a licensed broker provides me with the assurance that I am doing business with a broker who can be trusted since regulated brokers are required to adhere to stringent laws and regulations that were developed to assist in the protection of investors.
As a licensed supplier of financial services, TriumphFX is also registered with the Vanuatu Financial Services Commission (VFSC), making it one of the country's financial service providers. The Commission is in charge of the regulation and supervision of service providers in the investment market, including those who work with trusts and companies. In spite of the fact that I do not regard them to be a top-tier regulator, I believe that having any regulation in place for overseas customers is preferable than having none at all.
Because TriumphFX is a registered broker, it is required to store all of its customers' monies in accounts that are fully segregated, meaning they are kept entirely separate from the broker's other assets and are spread out across many Tier 1 independent banks throughout the world. They insist that any financial institution they work with must have an investment grade rating and fulfill a number of other requirements. These monies belonging to the customer must not be utilized for any other reason, such as the operating costs of the firm, additional investments, or paying off debtors. In order to make an effort to protect the money of their customers, TriumphFX conducts routine risk assessments, identifies, monitors, and manages each and every sort of risk that is involved with its operations.
TriumphFX is happy to work with customers from all over the world, but they are unable to work with traders from the United States. Furthermore, governmental restrictions and the policies of the broker prevent them from opening accounts that are originated from any of the countries listed below as restricted or sanctioned by OFAC. Afghanistan, Botswana, Cote d'Ivoire (Ivory Coast), Cuba, Egypt, Gambia, Ghana, Guinea Bissau, Guinea Conakry, Iraq, Iran, Kyrgyzstan, Lesotho, Liberia, Libya, and Libyan Arab Jamahiriya are the countries that have been designated as failing states by the United Nations. The Democratic Republic of the Congo, Mali, Niger, North Korea, Russia, Senegal, Sierra Leone, Somalia, Syria, Tajikistan, Togo, and Turkmenistan are some of the countries on this list. Uzbekistan, Yemen, and Zimbabwe, in addition to the previous Charles Taylor government in Liberia. If your nation is one of those that is listed, feel free to go through our broker evaluations to find other possible choices.
You may participate in the foreign exchange market by using the well-known MT4 trading platform, which is utilized by millions of traders all over the world. It is widely considered to be one of the most user-friendly platforms available, as it allows for complete personalization of the trading experience and comes equipped with a plethora of built-in trading tools. I appreciate that the MT4 platform has a shallow learning curve, which makes it a popular option among inexperienced traders, but that it is also able to support more complex features, which appeal to more seasoned investors. This combination of features makes it a great choice.
The MT4 platform may operate on desktop computers (Windows and MAC), directly in a web browser without the need for any installs, or via trading applications for Android and iOS mobile devices. Those of you who will need to access your account and trade while you are traveling won't have any trouble doing so now that this option is available. Without having to turn on my laptop, I can use this program to keep track on what's occurring in the financial world, which I find to be a very helpful feature. To check on my positions, all I need to do is whip out my phone, launch the app, and I'm set. From my point of view, the most significant drawback of the application is that it is unable to operate any automated processes. To do this, I use a dedicated virtual private server to host numerous instances of the MT4 trading software (VPS).
You should keep an eye out for the following major characteristics of the MT4 trading platform:
Comprehensively modifiable and intuitive user interface
Presents real-time price quotations for the bid and ask in the market monitor window.
Multiple types and periods of charting data
Multiple sorts of orders are supported.
Large selection of in-built tools for doing in-depth analyses of charts.
Trading that is completely automated and uses expert advisors (EAs)
A tester for strategies that can do back testing on EAs using historical data
MQL community for people to discuss ideas and tools with one another.
Interface for MetaEditor, which allows for the creation of customised tools
Notifications of price alerts can be set up by text message, email, or platform pop-ups.
Available for PC, web & mobile
Despite the fact that the MT4 platforms are likely to offer more than enough trading tools to satisfy the requirements of even the most demanding retail traders, TriumphFX does not give you with any additional trading tools. If they were to include some more tools for market analysis, I believe that quite a few of the consumers would benefit from the change. Trade Central and Autochartist seem like they would be excellent choices for automatically monitoring the markets in search of individualized trading signals. If you would want some further support with your trading, GO Markets makes both of these options available to its customers.
You may get an explanation of some of the fundamentals of forex trading in a
section that is specifically designated for that purpose on the website of
TriumphFX. Those of you who are just starting out as traders and are interested
in enhancing your trading knowledge and skills may find this to be helpful. A
wide variety of subjects, including an introduction to forex training, various
trading methods, trading psychology, chart types, and more are discussed in this
course. If you are looking for more instructional stuff, FXTM has enough of
material for you to sink your teeth into.
There is a page on the website titled "Forex Glossary" that provides definitions of some of the most commonly used terminology in connection with currency trading along with meanings written in layman's terms.
The future political and economic events, as well as statistics and analysis,
are presented in the forex calendar in chronological order. Traders and analysts
get the knowledge they need to assist them forecast possible long-term trends
and currency prices when they use this. You are able to view vital data
pertaining to the core economic indicators, such as interest rates set by the
central bank, the dynamics of GDP, inflation, employment, and a great deal of
other significant news items. Each currency exchange rate is determined by a
wide range of basic elements, including the status and future outlook of each
national economy, the political climate of that nation at the moment, continuing
large-scale speculative operations, and a great deal more. Rates of various
currencies and the financial markets in general are extremely sensitive to the
events in question. If you use this data, you will be able to make more educated
trading decisions and prevent avoidable financial losses that might be caused by
changes in the economy or the political climate.
Sites like TriumphFX in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.