Opening a new trading account in TriumphFX is very easy. You only need to choose one account type that suits you and read further to see the complete guide.

In order to start trading, you need to open a live trading account in a broker. Most online brokers these days allow you to make a new account on their website or mobile apps, so the process is usually very easy to follow. However, there are several things that you need to consider before going headfirst into the business. The first thing to think about is choosing the right broker. There are many legit brokers out there, but not all of them are good for you.

How to Open Account in TriumphFX

 

In this article, we'll introduce you to a broker called TriumphFX and show you how to create a new trading account on the platform.

 

Introduction to TriumphFX

TriumphFX is a well-established broker that has been providing service for over 12 years now. It is a broker that aims to make forex trading available to everyone by providing direct access to the world's top liquidity providers using STP technology. This allows them to perform high-quality service and fast order execution. TriumphFX operates in Europe and internationally. The company's international division is regulated by the VFSC Vanuatu, whereas the European division of the company is regulated by CySEC Cyprus.

At TriumphFX, clients can choose to trade with 60 forex pairs and 4 precious metals. Aside from that, the company is also known for its reliable trading platform, competitive spreads, and easy account opening with various payment methods available. Customer support is also considered reliable and responsive, but the service is only available during working hours in Cyprus time.

TriumphFX doesn't particularly focus on a specific type of trader, so the broker offers several types of accounts to accommodate the needs of both beginners and veteran traders:

  • Standard Fixed/Standard Variable: The minimum deposit is 100 USD and the spread starts from 1.6 pips. If you choose fixed spread, then open a Standard Fixed Account, but if you choose floating spread, go for a Standard Variable Account. In addition, the maximum leverage is 1:500.
  • Islamic Variable: As the name suggests, this account is designed for Muslim traders. This account type essentially has the same features as the Standard Account, but the difference lies in the swap charges. The Islamic Account has no swap charges as it is against the Sharia Law.
  • Premium: The Premium Account has a minimum deposit of 500 USD, spreads starting from 0.6 pips, and a maximum leverage of 1:500. While the spread is lower, users have to pay a commission of 6 USD per trade.
  • Islamic Platinum: This account type is suitable for professional Muslim traders. As an Islamic Account, this type charges no swap fees. Meanwhile, the minimum deposit is 2,000 USD, the spread starts from 0.6 pips, and the maximum leverage is 1:500.
  • VIP: In this account type, the minimum deposit is 5,000 USD, the spread starts from 0.5 pips, and the maximum leverage is 1:500. There is no commission charged and the spread is variable.

Overall, here is a brief information to describe TriumphFX:

TriumphFX Specifications

🌐 Website
www.tfxi.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2009

Bonus offers
Trading contests
Personal manager
PAMM accounts
MAM accounts
Segregated accounts
Managed accounts
Affiliate program
Islamic accounts available
Neteller
Wire transfer

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.

 

Documents to Prepare

As a fully regulated broker, TriumphFX must comply with the rules set by the regulators, particularly for Anti-Money Laundering and Prevention of Funding of Terrorist Activities. In order to fulfill the requirements, all clients must go through the Know Your Customer (KYC) procedure when opening a new account to verify their identity, nationality, and residential address.

Before sending the required documents, please make sure that the documents meet all of the following criteria:

  • Documents can only be uploaded in the following formats: JPEG, PNG, and/or PDF file extensions.
  • The size of the file must not exceed 2 MB.
  • Document resolution and clarity should be high enough to make sure the documents are clear and legible (scanner recommended).
  • Documents must fill at least 50% of the file. Please crop your document properly.
  • All four corners of the document must be clearly shown.
  • Only documents scanned in color will be accepted.
  • Documents with glare effects will not be accepted.

Documents that you need to provide when opening a new account are:

 

1. Proof of Identity and Nationality

Clients must verify their identity as well as their nationality by providing one of the following documents. Note that the document must be a government-issued photo identity document like:

  • Valid Passport
  • Valid National Identity Card

Other types of documents might be accepted, but it has to go through a proper inspection on a case-by-case basis by Triumph Int Limited Application Department.

Please make sure that the document contains all of the following information:

  • Name must be comparable as in the Live Trading Account application.
  • Photo Identity number must be comparable as in the Live Trading Account application.
  • Date of Birth.
  • Date of expiry of the document provided (not expired yet).

 

2. Proof of Residence

All clients must provide one of the following documents as Proof of Residence:

  • Valid Driving License.
  • Utility Bill i.e. Fixed Telephone Line, Gas, Electric, Water (within last three months).
  • Bank Statement (within the last three months).
  • Credit Card Statement (within the last three months).
  • Mortgage Statement (within last three months).
  • Current Premise Lease Agreement (within the last three months).
  • Personal Insurance Statement issued by a trusted insurer and within the premium period.
  • Personal Tax Bill (within the last 12 months).

The document must contain all of the following information:

  • Name must be comparable as in the Live Trading Account application.
  • Residential address must be comparable as in the Live Trading Account application.
  • Date of expiry of the document provided (not expired).

 

3. Proof of Payment

This is completely optional. You can upload a print screen of the Proof of Payment if you have made any payment before your live trading account is approved. This will allow the broker to immediately credit your account once it's activated. Considering that deposit via bank transfer is not always instant, early funding can give you a head start.

 

A Step-by-Step Guide to Open a Trading Account

1. Head over to TriumphFX official website and click the "Create Live Account" or "Open Account" button.

Open live account

2. To start with, you'll need to provide some basic information about your identity. This includes your name, nationality, email address, and phone number. Click "Submit" once you're done.

Registration form

3. After completing the initial registration, the system will direct you to a more in-depth questionnaire. There are several sections that you need to fill, such as:

  • Personal Particulars. This contains your personal information, including name, identity, gender, nationality, and date of birth.
  • Contact Method. Fill in your email address and phone number. Make sure that you use a valid email address and an active phone number with International Country Calling Codes.
  • Residential Address. Fill in your full address, including the street name, city, postal code, state/province, and country of residence. Please note that the address must be comparable with the data shown in the Proof of Residence document. 
  • Referral. You can enter a referral code if you have one. If you're not referred to TriumphFX by anyone, you can just leave it blank.
  • Trading. This contains information about your trading objective, which is necessary for the broker to know so that they can provide the best trading condition for you.
  • Employment & Financial Information. Choose your employment status. If you're employed, you'll need to fill in your employer's details. Then, provide information about your financial condition, including your source of funds, approximate annual income before tax, approximate value of savings and investments, and approximate equity in home.
  • Financial Experience. Understanding your trading expertise is also important for the broker as it can help them determine the most favorable protection and trading condition for you. It is important to understand that some financial instruments are not available to all traders due to the high risk, so you need to specify your trading skill beforehand and trade according to your capability.

4. Next, you'll see the Foreign Account Tax Compliance Act (FATCA). There are several statements that you need to read and understand. This form basically confirms that you are not a US citizen, do not have a Green Card, and are not a US taxpayer. Tick all of the boxes if you agree.

FATCA

5. The Legal section provides all of the legal documents regarding the broker and account opening. Make sure to go through each document carefully before proceeding. If you have any questions, please consult an independent legal advisor.

Legal documents

6. Once you're done, tick the box that says "I have read, understand, and accept the terms and conditions described in all the legal documents above", and click the "Submit" button.

7. The next page is where you upload all of the documents to prove your identity, nationality, and residence. In order to upload a document, click "Browse" and choose the files that you want to upload. Then, upload the document by clicking "Upload Proof of Identity".

Proof of Identity

The second one is Proof of Residence. Upload the document and click "Upload Proof of Residence".

Proof of Residence

Lastly, you can upload your Proof of Payment and click "Upload Proof of Payment". Keep in mind that Proof of Payment is optional, so if you haven't made any payment, you can just leave it blank.

Proof of Payment

8. You're all set up! Click "Finish" to complete your registration.

All in all, here is a tutorial video that provides visual instruction on how to open an account in TriumphFX:

 

What Happens After Completing the Account Opening Procedures?

At this stage, your account status is still pending. You'll receive an email from TriumphFX once your submission is processed and ready to go. In the email, there are some important details that contain your access to Trader's Room as well as the trading platform. Save the information carefully so you can always access your account easily. Also, pay attention to keep it personal as data leak could lead to account breach that harms your account.

 

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.