General Information & Regulation

Charterprime is a global financial and foreign exchange brokerage group established in 2012, headquartered in Sydney, Australia. The company adopts the STP processing system as its business model and is authorized and regulated by the ASIC in Australia, with regulatory license number 421210.

Markets Instruments

Financial instruments can be traded online with Charterprime include forex, precious metals, indices CFDs, and spot commodities.

Charterprime Account Types

Three account types are offered by Charterprime: the Variable account, the ECN account and the Swap-free account. The minimum initial deposit for three account is $100, the reasonable amount for most regular traders to get started.

Charterprime Leverage

CharterPrime as an Australia and New Zealand broker together with its obligations to local regulation still allows high leverage. The maximum trading leverage available by this broker is up to 1:500 for forex instruments and major currency pairs available for retail traders.

Spreads & Commissions

The average spread of the EURUSD for the Floating Spread Account is 2.0, the average spread of the EURGBP 1.9, and the average spread of the AUDUSD is 2.2. The average spread of ECN accounts for the EURUSD is 0.5, the average spread for the EURGBP 0.8, and the average spread for the AUDUSD is 0.7. The average spread of Gold Price in US dollar for Floating Spread Accounts is 3.8, and the average spread for Silver Price in US dollar is 3.4. The average spread of Gold Price in US dollar for ECN accounts is 1.5, and the spread for Silver Price in US dollar is 3.6. See the following swap chart:

Trading Platform

The MT4 trading platform used by Charter has powerful trading functions and analytical capabilities. Apart from Multiple order execution, it enables traders to conduct complete and flexible tradings. At the same time, it also integrates market charts, technical analysis, and order transactions. Three functions are integrated, allowing users to quickly determine trends and determine the best entry and exit time. Besides, the company also provides a multi-account management model, which refers to a practical and convenient way to manage accounts on behalf of clients and manage multiple accounts simultaneously from a single interface. It can quickly execute a large number of customer orders as long as the management account clicks a button, and a large number of transactions can be automatically allocated to their respective customer accounts.

Virtual Private Server (VPS)

VPS, also known as Virtual Private Server, is a stand-alone server that runs 24 hours per day. Traders can log into a VPS with a computer or mobile device, without any pullback issues caused by network failure or any other factor that can affect their trading progress. A VPS is suitable for and mainly used by traders who employ automated strategies which require uninterrupted access to the market 24 hours a day.

Deposit & Withdrawal

Deposit and withdrawal methods support Bitcoin (deposit time taking 1 day, and the withdrawal time taking 3 days, and the minimum withdrawal amount is 100 US dollars), USDT (the stable value currency U.S. dollar (USD) token Tether USD launched by the Ether company, USDTfor short, 1USDT equals 1 U.S. dollar, deposit taking 1 day, withdrawal taking 3 days, deposit and withdrawal fees are both 5%), UnionPay (no charge for deposit and withdrawal, deposit time taking 1 day, withdrawal taking 3 days , the minimum amount of gold withdrawal is US$100), wire transfer (the deposit and withdrawal taking 3-5 days, the withdrawal fee is 40 US dollars, and the minimum amount of withdrawal is 100 US dollars), Skrill (deposit taking 1 day, the withdrawal taking 3 Day, no deposit fee, withdrawal fee is 1%, the minimum amount for withdrawal is 100 USD), Neteller (Deposit time taking 1 day, withdrawal taking 3 days, no deposit fee, withdrawal fee is 2%, the maximum is 30 USD , The minimum withdrawal amount is US$100), and Local Gateway (currently supported currencies are Thailand, Indonesia, the Philippines and Vietnam, deposit taking 1 day, withdrawal time taking 3 days, no deposit and withdrawal fees, and the minimum withdrawal amount is 100 US dollars).

Educational & Research Tools

There are no other educational resources provided by the broker apart from a baic glossary, FAQ, user and installation guiders fro the MT4 trading platform.

Additional research tools offered by CharterPrime consist of market news, updates and an economic calendar of featured events and data releases.

Customer Support

CharterPrime Customer Support team can be contacted within working hours through Live Chat, email or contact form.

Here are some contact details:

Telephone: +852 8175 6090

Email: enquiry@charterprime.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, Instagram and Linkedin.

Pros & Cons

Frequently Asked Questions

Is Charterprime regulated？

Charterprime is authorized and regulated by the ASIC in Asutralia under regulatory license number 421210.

Does Charterprime offer a demo account？

Yes, demo accounts are available with Charterprime.

What trading platform does CharterPrime provide？

CharterPrime makes the popular trading platform MT4 available.

What are CharterPrime's customer service hours？

The CharterPrime customer service team is available 24/5 from Monday to Friday.

Can I change my leverage with Charterprime？

Yes, leverage can be changed by contacting the Charterprime customer support team.

What is TriumphFX？

TriumphFX was founded in 2009 and is based in Cyprus, providing professional online trading services to investors, traders, and institutional clients through a robust NDD and STP order processing model.

TriumphFX is regulated by Federal Financial Supervisory Authority (BaFin) and Cyprus Securities and Exchange Commission (CySEC). TriumphFX is also registered with Financial Conduct Authority (FCA) and Vanuatu Financial Services Commission (VFSC), but these two licenses have already been revoked.

TriumphFX has been brought into a series of scandals about the inability to withdraw funds, illegal brokers, as well as failing to log in to its official website, etc. Please be aware of the risk.

Pros & Cons

TriumphFX offers competitive trading conditions with low spreads, multiple account types, and MT4 trading instrument. Additionally, the broker is regulated by reputable authorities and offers negative balance protection. However, too many complaints from users saying that they have difficulty withdrawing. And their educational resources, research and analysis tools are limited compared to other brokers.

Note: The above table is based on general information and may not be comprehensive. Pros and cons may vary depending on individual experiences and circumstances. Each trader has unique needs and preferences, so it is important to carefully consider your own trading style and goals when selecting a broker.

TriumphFX Alternative Brokers

There are many alternative brokers to TriumphFX depending on the specific needs and preferences of the trader. Some popular options include:

• XM: This is a popular forex broker that is known for its low spreads, multiple trading platforms, and excellent customer service. They are regulated by multiple top-tier authorities, including the ASIC, CySEC, and FCA, which makes them a safe and reliable choice.

• Pepperstone: This broker offers a wide range of trading instruments, low spreads, and fast trade execution speeds. They are also regulated by top-tier authorities such as the FCA and ASIC, which ensures that they are a trustworthy option.

• IG: This broker offers a variety of trading instruments, competitive pricing, and a user-friendly trading platform. They are also regulated by top-tier authorities such as the FCA, which ensures that they adhere to strict financial regulations and are a safe and reputable broker.

Is TriumphFX Safe or Scam？

Based on the information provided on TriumphFX's website, as well as their regulatory status, it seems that TriumphFX takes measures to protect its clients' interests and promote a safe trading environment. They are licensed and regulated by reputable authorities, and have implemented several security measures to ensure the safety of its clients' funds, such as segregated accounts and negative balance protection. However, there have been some negative reviews from clients regarding withdrawal issues, which is a red flag.

How are you protected？

It's important to note that while TriumphFX takes steps to protect its clients, no broker can guarantee complete protection against all risks. Clients should always do their own research and carefully consider the risks involved in trading before making any investment decisions.

Market Instruments

TriumphFX offers investors a small range of trading instruments, including over 60 pairs of the most popular major currency pairs in the Forex market, minor currency pairs, exotic currency pairs, as well as precious metals such as gold and silver.

Accounts

To meet the investment needs and trading experience of different investors, TriumphFX offers three different types of accounts, namely Classic Accounts, Gold Accounts, and Premium Accounts. The minimum deposit requirement is 100. The base currencies of the accounts are EUR, USD, and GBP, and the minimum trade lot size is 0.01. Demo accounts are also available.

Leverage

TriumphFX, as a Cyprus-regulated broker, offers the maximum trading leverage of up to 1:30 for retail clients. Traders can adjust the leverage according to their knowledge and experience, and professional clients can trade with a maximum leverage of up to 1:500.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

All spreads with IMS FX are a floating type and scaled with the asset class. The minimum spread on the TriumphFX platform is 0.4 pips for EURUSD, 0.1 pips for EURGBP, 1.2 pips for GBPUSD, 0.8 pips for USDJPY, 1.7 pips for XAUUSD, and 1.7 pips for XAGUSD. It seems that there is no commission charged.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

TriumphFX offers traders the flexibility to choose from the market-leading and widely acclaimed MT4 trading platform, as well as MT4 Windows, MT4 iOS, and MT4 Android. MT4 is known as the ideal forex trading platform with powerful charting and data analysis tools, an intuitive and clear interface, and support for EA intelligence. MT4 can develop suitable trading strategies for traders of different levels, helping traders to trade with ease.

See the trading platform comparison table below:

All four brokers offer MetaTrader4 and have mobile, web, and desktop versions available. XM and Pepperstone also offer MetaTrader5, while IG has a wider range of trading platforms including ProRealTime, L2 Dealer, and its own IG Trading Platform.

Trading Tools

TriumphFX offers several trading tools designed to help traders stay informed and up-to-date with the latest market trends and developments. The economic calendar provides real-time updates on upcoming economic events and their potential impact on the markets, while the FX analysis and news section offers daily market commentary and analysis from TriumphFX's team of experts. These tools can be especially useful for traders who rely on fundamental analysis to make informed trading decisions.

Additionally, TriumphFX offers access to a variety of technical analysis tools, including charting and indicators, that can be used to identify trading opportunities and potential market trends. Overall, TriumphFX's trading tools can be a valuable resource for traders looking to stay ahead of the markets and make more informed trading decisions.

Deposits & Withdrawals

TriumphFX supports clients by depositing and withdrawing funds to their investment accounts via Visa, MasterCard, Bank Wire, Neteller, and Skrill/Moneybookers.

The minimum deposit amount is $/€/£100.

No commissions are charged on deposits. For any deposit equivalent or above $500, TriumphFX will reimburse the Intermediary Bank Charges. Regardless however, all Local Bank Charges incurred by the sending bank will not be reimbursed. Your deposits will be processed within 2-3 business days from the day your funds are sent from your bank account. After confirmation of your deposits, your funds will be immediately credited into your trading account.

Traders withdrawing funds via NETELLER and Skrill/Moneybookers pay 1% commission and while via VISA & MasterCard, the withdrawal fee is $3/€2/£2. For Bank Wire withdrawals, if your withdrawal amount is less than €1,000, the fees will be $30/€20/£25, and any above will be charge + 0.15%. All withdrawals are subjected to intermediary bank charges ranging from $25 to $75 per transaction. It will take 2-5 business days to process your request.

TriumphFX minimum deposit vs other brokers

TriumphFX Money Withdrawal

In order to create a Withdrawal Request please:

Step 1: Login to your trading account ( https://secured.triumphfx.com/login ) .

Step 2: Go to the Withdrawals Section.

Step 3: Click Create Withdrawal and choose the method you want to withdraw your Funds.

Step 4: Fill in all the required fields.

Step 5: Submit the web form.

Customer Service

TriumphFX offers customer support via phone, email, and online messaging. You can also follow this broker on social networks such as Facebook, Instagram and LinkedIn. Overall, the customer service of TriumphFX appears to be satisfactory.

Education

TriumphFX offers a range of educational resources to help traders improve their trading knowledge and skills. These resources include Forex essentials and Forex glossary. Additionally, TriumphFX offers a demo account for traders to practice their trading strategies and get familiar with the platform before trading with real money. Overall, TriumphFX's educational resources can be a valuable asset for both new and experienced traders looking to improve their trading skills.

Conclusion

All in all, TriumphFX seems to be well-regulated, but there are numerous negative reviews from users. Many users have reported difficulties in withdrawing funds, and some have even accused TriumphFX of being an illegal Ponzi scheme. Despite offering attractive trading conditions, the high number of negative reviews and accusations of illegal activity should be a red flag for potential investors. It is important to thoroughly research any broker before investing and to exercise caution when dealing with TriumphFX.

Frequently Asked Questions (FAQs)