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TriumphFX is a broker that caters to different kinds of traders. That's why each TriumphFX trading accounts have different conditions that fit various types of traders.
Choosing the right trading account is crucial for many traders. The reason is that brokers tend to provide several account types with various trading conditions. It would be a huge problem if traders choose the wrong account because they are not careful enough.
One of the best examples of brokers with plenty of trading accounts is TriumphFX. This broker has 7 account types in total so first-timers might need a guidance to choose the best one.
TriumphFX broker is a No Dealing Desk (NDD) broker, which means they can provide unfiltered access to the best price on their platform. Their liquidity providers are world-renowned top-tier banks and financial institutions. Besides the best price, traders can access plenty of instrument trading this broker offers. Those include forex, commodities, and indices, all for a great price.
TriumphFX offers forex and CFD trading to retail and professional investors who have successfully opened live accounts with the broker. Regulated by FSA (Seychelles) SD080 and VFSC 17901, TriumphFX caters to traders from the EU to Cyprus, Great Britain, South Korea, Italy, Malaysia, Indonesia, Singapore, Australia, and Germany for trading forex and metals.
TriumphFX was founded in 2009 and has now opened offices in Malaysia, Hong Kong, Cyprus, and Australia. The company has a diverse client base, with opportunities for less experienced investors, as well as institutional traders.
MetaTrader 4 (MT4) is the main platform provided because. In addition to facilitating client navigation, the platform contains comprehensive educational material for beginners. Copy trading is also available, where users can copy other successful investors.
After you sign up, deposits can be made in the following currencies: USD, EUR, and GBP. Deposits and withdrawals through banks are usually completed within 2-5 days. TrimuphFX operates according to anti-money laundering guidelines, so document verification is required before a withdrawal can be approved.
The company offers a welcome bonus of 5% for the international division, however, this is not available to clients in the EU. TriumphFX offers one demo account and 4 different live accounts: Platinum, VIP, Premium, and Standard. The main difference between live accounts relates to the minimum deposit.
Clients can contact customer service via ticket, email, or telephone. The team will respond to any issues the client may have quickly and responsively.
Understanding TriumphFX Trading Accounts
All TriumphFX trading accounts have different trading conditions. This can be seen from its deposits, spread type, and many more. Here is a brief knowledge that you need to know about TriumphFX trading accounts.
See Also:
1. Standard Fixed
Just like any other broker, TriumpFX offers a standard account. The first account that traders might encounter is the Standard Fixed account. Because this is a standard account, the minimum deposit isn't too high. Traders only need a $100 minimum deposit to enjoy this account's features.
As the name suggests, the account offers a fixed spread with a minimum of 1.6 pips. This is a pretty small amount for a typical fixed spread. There won't be any commission fees in this account type, but a swap fee is unavoidable for overnight trades. Traders can still enjoy leverage up to 1:500 to boost their trading power.
2. Standard Variable
This TriumphFX account is a standard account with a floating spread type. The minimum deposit is quite affordable at just $100. The minimum spread for this standard account is similar to Standard Fixed, starting from 1.6 pips. There won't be any commission fees charged, and traders can still enjoy leverage up to 1:500. This account type can be a flexible option for many traders, but they must understand that the spread is variable, meaning it bounds to go up when the market is highly volatile.
3. Islamic Variable
Another TriumphFX trading account that is worth attention is the Islamic Variable account. As the name suggests, this account is created specifically for Muslim traders.
hat sets this account apart from the rest is that there are no swap charges involved. The minimum deposit here is only $100, while the maximum leverage is 1:500. In addition to that, traders will be able to enjoy a minimum spread of 1.6 pips. There will be no commission fees involved for this account type. In other words, Islamic Variable is just another standard account that caters to Muslim traders.
4. Premium
Besides standard accounts, TriumphFX also offers a low-spread account. Labeled as the Premium account, TriumphFX supports a minimum floating spread of 0.6 pips here. But since the account comes with a very tight spread, there will be a $6 commission charged. Another condition is that the minimum deposit for this account is slightly higher than the other TriumphFX account types above, which is $500. Nonetheless, traders can still enjoy maximum leverage of 1:500.
5. Platinum
The TriumphFX Platinum account is another great choice for low-spread trading. The minimum deposit is slightly lower than the Premium, which is only $200. The spread for this account starts from 0.6 pips with a $3 commission fee. This account is great for scalpers seeking small trading costs. Traders can still enjoy leverage up to 1:500 but there is a swap charge for traders who open their positions overnight.
6. Islamic Platinum
Not a fan of swap charges and looking for a zero-spread account? No worries because TriumphFX provides an Islamic Platinum account. As the name suggests, the account caters to Muslim traders with similar conditions to that of the Platinum account. That is why this account has a minimum spread of 0.6 pips. However, unlike the commission in Platinum, traders don't have to pay commission charges here.
The only drawback is that this is not suitable for beginners or small-cap traders as the minimum deposit required is $2000, higher than the other trading accounts above.
7. VIP
As the name suggests, the TriumphFX VIP account has the best trading conditions suited for experienced traders. The minimum spread for this account is only 0.5 pips with no commission charged. However, traders who leave their positions open overnight should pay swap charges. Leverage is available with a maximum amount of 1:500, and the minimum deposit is $5000. To conclude, this account is better suited for professional traders.
To better understand the comparison between TriumphFX accounts, check out the table below:
| Features | Standard Fixed | Standard Variable | Islamic Variable | Premium | Platinum | Islamic Platinum | VIP |
| 💲Minimum Deposit | $100 | $100 | $100 | $500 | $200 | $2000 | $5000 |
| ⚖Leverage | 1:500 | 1:500 | 1:500 | 1:500 | 1:500 | 1:500 | 1:500 |
| 🔢Spread | 1.6 | 1.6 | 1.6 | 0.6 | 0.6 | 0.6 | 0.5 |
| 📊Type of Spread | Fixed | Floating | Floating | Floating | Floating | Floating | Floating |
| 💸Commission | ❌ | ❌ | ❌ | $6 | $3 | ❌ | ❌ |
| 🕌Swap-free | ✔️ | ✔️ | ❌ | ✔️ | ✔️ | ❌ | ✔️ |
Which Account is The Best?
Each TriumphFX trading account has different sets of conditions. To choose the right one, traders should first decide what they need. This can vary according to the trader's strategy, how much money they are willing to spend, or even their belief.
For example, a trader who has just started trading probably doesn't want to spend too much money on the first try. For this purpose, traders could choose one of the standard accounts since they have lower minimum deposits.
Meanwhile, other traders who prefer low spread could pick Premium, Platinum, or VIP On the other hand, Muslim traders can benefit from Islamic accounts such as Islamic Platinum and Islamic Variable. There are not many brokers out there providing flexible trading conditions in Islamic accounts.
As TriumphFX is regulated both in CySEC and Vanuatu's regulatory agency, it can be said that this broker is a multi-licensed broker. Find out everything about it in A to Z on Forex Brokers with Multiple Licenses.
21 Comments
Gerard
Mar 24 2023
I'm really impressed with the Islamic account offered by TriumphFX. In my country, Islamic accounts are usually associated with high deposits, even though brokers allow non-Muslim traders to use them (I didn't know that Islamic accounts were also swap-free accounts until I read about it). As a result, many traders opt for standard or mini accounts and only engage in one-day trading.
However, TriumphFX's Islamic account only requires a $100 deposit, which is quite affordable, and I think most traders would agree with me. By the way, could you explain what distinguishes a swap-free account from an Islamic account? And what makes Muslim seems to avoid swap?
Flick
Mar 24 2023
I will answer your question.
An Islamic account, also known as a swap-free account, is a type of trading account that complies with Islamic Sharia law, which prohibits earning or paying interest. In a regular trading account, when you hold a position overnight, there is an interest rate charged or paid on that position, known as a swap rate. However, in an Islamic account, this swap rate is waived, so you can hold positions overnight without paying or earning any interest.
The reason why Islamic accounts are also referred to as swap-free accounts is that they eliminate the concept of "swaps," which are interest payments made on overnight positions. In Islamic finance, earning interest is considered haram, or forbidden. Therefore, Islamic accounts are designed to provide an option for Muslim traders who want to participate in the financial markets without violating their religious beliefs.
Gerard
Mar 24 2023
Oh, I see. So, regarding the swap rates, I recall that many of my Muslim friends consider it to be haram. As a result, they opt to open Shariah-compliant bank accounts, which allow them to access banking features while adhering to Shariah Law. However, upon reviewing the commission fees offered by Vantage, it seems that they charge higher fees to accommodate their clients' beliefs, which is commendable. Having a swap-free account is particularly beneficial for those who engage in swing trading, as they need not worry about the potential for high swap fees. Overall, it is great to see brokers like Vantage offering a range of account options to cater to different trading needs and beliefs.
Russell
Mar 24 2023
I agree with the author that as a beginner, the standard account with a minimum deposit of $100 is a good choice because you have the option to choose between fixed or floating spreads. However, I find it difficult to decide between the standard fixed, standard floating, and Islamic account because they all have the same minimum deposit. Although the fixed spread account looks attractive with a starting spread of 1.6 pips, I wonder if there are any disadvantages to using it compared to the other two options.
Perhaps the author or someone who has used the fixed spread account can shed some light on this matter.
Willis
Mar 24 2023
The main advantage of a fixed spread account is that it provides traders with a stable trading cost. With a fixed spread, you know the exact amount of spread you will pay on each trade, regardless of market conditions. This can be especially useful for traders who prefer to trade during volatile market conditions when spreads tend to widen.
However, one potential disadvantage of a fixed spread account is that the fixed spread may be wider than the floating spread during normal market conditions. This means that you may end up paying more for your trades in a fixed spread account when compared to a floating spread account. Additionally, fixed spreads can also be subject to widening during certain market events, such as news releases, which can result in higher trading costs. As the note, If the starting spread for the floating spread account offered by TriumphFX is the same as the fixed spread account, then you may consider choosing the fixed spread account as your beginner account.
Broly
Mar 24 2023
After carefully reading about the account types offered by TriumphFX, I can classify them into two areas: beginner accounts with a starting deposit of $100, leverage of 1:500, and a high spread of 1.6 pips; and advanced trader accounts with a starting deposit of $200 and a spread of 0. To access the lower spread account, you need to deposit more than the standard account. Although I'm not sure about the reason behind this, I believe it's worth it since a higher deposit amount can unlock premium features. Overall, it seems like a fair arrangement.
Mendy
Jun 7 2023
@Broly: Hey there! While it may seem a bit puzzling as to why a higher deposit amount is required for the lower spread account, it's possible that TriumphFX wants to reward traders who are willing to invest more by offering them premium features such as tighter spreads. It's a common practice in the industry to provide better trading conditions for traders who can meet higher deposit thresholds.
Overall, it's a fair arrangement, and the choice between the two account types will depend on your trading preferences, experience, and budget. If you're comfortable with a higher starting deposit and prioritize lower transaction costs, the advanced trader account might be more suitable for you. However, if you're just starting out and want a lower barrier to entry, the beginner account can provide a good starting point.
Jacko
Apr 12 2023
I am a beginner here and I want to know more about the spread in forex trading. As far as I know, there are two types of spreads: variable (also known as floating) spread, which can widen depending on market conditions, and fixed spread, which is a constant spread that does not change, even in volatile market conditions. I have heard that TriumphFX offers fixed spreads. Is it a good option for beginners like me to start with? Can you explain the advantages and disadvantages of using fixed spreads in forex trading? Thank you in advance!
Nunez
Apr 13 2023
Hey! Fixed spreads are a good option for beginners who are just starting out in forex trading because they offer a predictable and stable trading environment. With fixed spreads, traders know exactly what the cost of each trade will be, regardless of market volatility. This can help beginners to manage their risk more effectively and to make more informed trading decisions.
However, it's worth noting that fixed spreads may not always be the best option for every trader. While they provide certainty and stability, they may be slightly higher than variable spreads during times of low market volatility. This means that traders may end up paying more for their trades than they would with a variable spread broker. Additionally, fixed spreads may not be suitable for trading certain currency pairs or during certain market conditions where liquidity is low, as they can widen and become less competitive compared to variable spreads.
Moldy
Apr 14 2023
Hey, I am not fixed spread user. But based on I know, fixed spread can be wider during market turbulunce. It means they also can float following the market condition. So, you need to read the term and condition before going depp into a broker. By the way, if you trade with TriumphFX, they offer true fixed spread. I got it from TriumphFX website, they offer fixed spreads on certain account types. These fixed spreads are advertised as being "truly fixed" and not subject to any widening or changes during periods of market volatility or low liquidity.
Gibss
Apr 13 2023
It seems the more you deposit, the commission that occured will be free. I mean if you use the low spread, you will get higher commission if you trade with only deposit $200 to get the low spread.
And I guess this is not just this broker but also other broker too. I mean, is there any cost to provide some low spread that you need to charge higher to your trader meanwhile you can give the other one more profitable conditions?
I also doubt about the spread too, is it can be manipulate or can higher than market itslef?
Hellen
Apr 14 2023
It's common for brokers to offer lower spreads or other favorable trading conditions to traders who deposit larger amounts of money. This is because larger deposits generally mean more trading volume, which generates more revenue for the broker. In some cases, brokers may also offer lower commissions to traders who deposit more money or who trade more frequently. And you are right, spread and commission are the main broker's revenue. Like it or not, you cannot do the trade without broker and as the paid service, you need to pay with spread and commission. It is fair and high or low depends on the broker's policies!
Jason
Jun 13 2023
Is the TriumphFX Platinum account suitable for beginner scalpers looking for low-spread trading? With its minimum deposit of $200, starting spread of 0.6 pips, and $3 commission fee, it appears to cater to scalpers seeking small trading costs. However, before jumping in, what should beginner scalpers consider when deciding if this account is a good fit for their trading strategy? How competitive is the spread and commission fee compared to other accounts? Are there any potential risks associated with the high leverage of up to 1:500 that they should be aware of? Lastly, how significant is the impact of the swap charges for scalpers who hold positions overnight?
David
Jun 14 2023
@Jason: In my opinion, the TriumphFX Platinum account is indeed suitable for beginner scalpers who are seeking low-spread trading. With its minimum deposit of $200, starting spread of 0.6 pips, and $3 commission fee, it caters to scalpers looking for cost-effective trading options. However, before beginners jump in, there are several factors to consider. Firstly, they should compare the spread and commission fee offered by TriumphFX with those of other brokers to ensure competitiveness. Additionally, it's important to be cautious about the high leverage of up to 1:500 and employ effective risk management strategies. High leverage can amplify both profits and losses, so beginners should approach it with care. Lastly, scalpers who hold positions overnight should be aware of the impact of swap charges, as these can affect the overall profitability of their trades. By carefully considering these factors, beginner scalpers can make informed decisions and determine if the TriumphFX Platinum account is well-suited to their trading strategy.
Dani Parejo
Jun 26 2023
Which account type, the Standard Fixed or Standard Variable account offered by TriumpFX, would be better suited for traders based on their preferred trading style? In terms of key features, such as minimum deposit, spread type, commission fees, and leverage, how do these two accounts differ? Furthermore, for traders who prioritize stability and predictability, how does the fixed spread of the Standard Fixed account and the absence of commission fees make it more suitable? On the other hand, for traders who can adapt to market volatility and seek flexibility, how does the variable spread of the Standard Variable account cater to their needs? Consider also the potential impact of swap fees for overnight trades in the Standard Fixed account and the influence of market volatility on the spread of the Standard Variable account.
Venda
Jul 8 2023
@Dani Parejo: In my opinion, the Standard Fixed account offered by TriumpFX is better suited for beginners. This account type provides stability and predictability with its fixed spread, allowing traders to plan and manage their trades more effectively. The absence of commission fees simplifies cost calculations, making it easier for beginners to understand their overall trading expenses. The fixed spread is particularly advantageous for longer-term trades, providing stability even during periods of market volatility. For beginners who may be more risk-averse and prefer a clear pricing structure, the Standard Fixed account offers a reliable option. However, it is essential to consider the minimum deposit requirement and any potential swap fees associated with overnight positions. Overall, the Standard Fixed account can provide a solid foundation for beginners to gain experience and confidence in Forex trading.
Potter
Jul 19 2023
Hey there! I invite you to take a closer look at this article that discusses the various trading accounts offered by TriumphFX. Pay particular attention to the table that outlines the features and conditions of each account. While it may seem that the VIP account doesn't differ significantly from the others in terms of trading conditions. So, I want to ask some questions here:
What type of trading is typically preferred by professional traders, considering the unique features of TriumphFX VIP account? While there doesn't seem to be a noticeable difference in terms of trading conditions between this account and others, such as the absence of commission fees and the minimum spread of only 0.5 pips, what aspects make the VIP account more suitable for experienced traders? Additionally, considering that swap charges are applicable for overnight positions and the higher minimum deposit requirement of $5000, how do these factors contribute to the VIP account being better suited for professional traders?
Bellinda
Jul 20 2023
When it comes to professional traders, they typically prefer a specific type of trading that aligns with their experience and objectives. Despite the similar trading conditions in TriumphFX VIP account, such as no commission fees and a minimum spread of 0.5 pips, there are unique aspects that make it more appealing to experienced traders.
The presence of swap charges for overnight positions is one of those aspects. Professional traders often engage in longer-term trades and are more inclined to hold positions overnight. While swap charges are incurred, they understand how to manage these costs effectively and incorporate them into their trading strategies.
Additionally, the higher minimum deposit requirement of $5000 is another distinguishing factor. Professional traders tend to have a larger capital base and can comfortably meet this requirement. The higher deposit signifies a commitment to trading and allows for larger position sizes, providing greater flexibility and potential profit opportunities.
Nadeo
Jul 21 2023
Hey there! You're absolutely right. Professional traders, with their greater risk tolerance and extensive market knowledge, often lean towards opening larger volume trades compared to less experienced traders. Their expertise enables them to carefully analyze market conditions, spot lucrative trading opportunities, and execute trades with larger positions. By doing so, they aim to take full advantage of market movements and potentially maximize their profits. However, it's crucial to remember that professional traders also prioritize effective risk management strategies to safeguard their capital and minimize potential losses. That's precisely why the VIP account becomes the preferred choice for professionals. It offers them the ideal trading conditions to accommodate their trading style and goals.
Nicholas
Jul 19 2023
Hey there! I'm really interested in starting my trading journey with TriumphFX's standard account, especially since the minimum deposit is as low as $100. But I can't help but feel a bit curious and apprehensive about the leverage that's offered. With a leverage ratio of 1:500, it's considered high leverage, and I've heard that high leverage can come with risks. So, I wanted to ask: What are the potential risks that I should be aware of when using a leverage of 1:500? How can I effectively manage those risks and make informed decisions while trading with this account? I'm eager to learn more about this aspect before I dive into trading. Any insights or advice would be greatly appreciated!
robin
Jul 21 2023
Hey there! I completely understand your curiosity and concern about the leverage offered in TriumphFX's standard account. It's important to be aware of the potential risks associated with high leverage, especially with a ratio of 1:500. So, let's dive into it together! One potential risk of high leverage is that it amplifies both potential profits and losses. While it can boost your trading power, it also means that even a small adverse market movement can result in significant losses. To effectively manage these risks, it's crucial to have a solid risk management strategy in place. This includes setting appropriate stop-loss orders to limit potential losses, diversifying your trades to spread the risk, and avoiding overexposure to a single position. Additionally, gaining a thorough understanding of the markets, conducting proper research, and staying updated with market news and trends can help you make more informed trading decisions. Remember, it's always wise to start with smaller position sizes and gradually increase your exposure as you gain more experience and confidence. Best of luck on your trading journey, and feel free to seek guidance from TriumphFX or professional traders for additional insights!