TriumphFX and Its Clones | Which Is The Real Culprit?

In every industry, there are imitators. Syndicates frequently copy well-known brands or businesses in an effort to fool customers into thinking they are the real deal. Alternatively, they also use another tactic wherein they just ditch the old company entirely, including the online platform and social media accounts, then start afresh with a new name and website to target new victims. This is especially true in the world of forex trading.

Today, we will examine TriumphFX, which is a controversial online Forex and CFD (Contract for Difference) provider.

WikiFX is a global forex broker regulatory query platform that holds verified information of over 40,000 forex brokers. TriumphFX has gained a lot of traction lately, typically in Southeast Asia. In fact, it appeared as the 2nd broker in WikiFXs hot-search list.

To conduct a background check on TriumphFX, we just type its name into the search box.

10 forex brokers with the same name appeared.

Although their logos have an uncanny resemblance, their differences lie within the details. Just take a closer look, and it is easy to spot that they each have a different registered company name, website, establishment year and country, regulatory status, and contact information, respectively. These characteristics further strengthen the hypothesis that TriumphFX could act like a hermit crab – jumping from one shell to another when it had completed its deeds under that registered name.

How do we know which TriumphFX is infamously trending on the Internet right now？

Based on Googles search engine, the top 2 results are TFXI and TriumphFX Cyprus.

Homepage of TFXI (www.tfxi.com)

Homepage of TriumphFX Cyprus (www.triumphfx.com)

On Facebook, we could only find a page that links to www.txfi.com with up to 26,000 Facebook fans. Another confirmation is that this Facebook page is updated frequently, followed by recent interactions (unfortunately, frustrating comments) from its fans.

It is sufficient to deduce that the current active TriumphFX website is www.txfi.com. Its corresponding WikiFX profile is this shown above.

TriumphFX claims that it has obtained the license from the Financial Security Authority of Seychelles (FSA) on its website.

However, the majority of offshore regulators, including FSA in this scenario, are situated on outlying islands or tax havens where there is almost no domestic demand for retail trading. These regulators' sole motivation is to draw businesses to their jurisdictions so they can profit from their presence. In exchange, the brokers can obtain a licence to provide their services internationally. From the perspective of an individual trader/investor, an offshore regulated forex broker may not be capable of providing the utmost security for their funds and accounts.

If you are curious what is really going on with TriumphFX, follow WikiFX closely as we are going to reveal more about this confusing broker in the upcoming days.