Is TriumphFX scam or Legit? – ScamHelpers Investigation shows that it is a scam.
Website – https://www.triumphfx.com/, https://www.tfxi.com/, https://www.tfxi.sc/
Why TriumphFX is a scam?
TriumphFX was discovered by Scam Helpers to be a Ponzi scheme.
TriumphFX states that it holds a licence number 293/16 from the Cyprus Securities and Exchange Commission (CySEC), which regulates brokers. The owner of the broker is Triumph Int. Cyprus Ltd and is based in Vanuatu which was previously G.S.E Golden Sky Europe Ltd. a firm which was connected to Bank of Lithuania who kept all the funds there.
TriumphFX, however, is a Ponzi scheme. We advise traders to avoid using this broker. Although regulation by Cysec is ok but Vanuatu based regulations are loose offshore regulations.
Warnings against TriumphFX
The biggest proof that TriumphFX is a scam is the warnings given by a number of recognized regulatory bodies across the world. Here are those-
The Securities Commission Malaysia warned-
“Triumph International / Triumph Investment Malaysia” in the Investor Alert List on 13 October 2020: Investor Alert List (as at 13/10/2020) – Investor Alerts Announcements | Securities Commission Malaysia;
The Monetary Authority of Singapore warned
“Triumph Int. Limited / TriumphFX, websites com, tfxi2.com, triumpfx.com, and Triumph Global (Asia) Limited” in the Investor Alert List on 4 Aug 2021: Investor Alert List (mas.gov.sg)
The Indonesia Financial Services Authority gave reference to the warning by Satgas Waspada Investasi (Investment Alert Task Force) about “TriumphFX/Priority Group Official” in April 2022: Satgas Waspada Investasi Kembali Temukan 7 Entitas Investasi Tanpa Izin dan 100 Pinjaman Online Ilegal (ojk.go.id)
Take Action if you are scammed!
If you are scammed by TriumphFX broker, you can file a complaint in the complaint form on top. You can also share your experience with the broker as a comment.