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Do you want to know which is the better broker between FX Choice and TriumphFX ?
In the table below, you can compare the features of FX Choice , TriumphFX side by side to determine the best fit for your needs.
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fx-choice, triumphfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Belize |
Regulated by | FSC |
Year(s) of establishment | 2-5 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:1000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5, webtrader |
Deposit and withdrawal method | cryptocurrencies, VISA, MasterCard, Perfectmoney, Skrill, Neteller, astropay and many other options |
Customer Service | Email/phone number/address/live chat/call back |
Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Multiple account types with varying minimum deposits and commissions to suit traders with different needs and preferences.
The option to trade a wide range of financial instruments including Forex, metals, indices, cryptocurrencies, and shares.
Multiple platform options including the popular MetaTrader 4 and 5, as well as a WebTrader platform.
High leverage of up to 1:1000 for the Optimum account, providing the opportunity for potentially higher profits.
A variety of deposit and withdrawal methods, including popular e-wallets and cryptocurrencies, with a 15% deposit bonus available.
Comprehensive educational resources including autotrade, copy trading, and trading signals to help traders make informed decisions.
Multilingual customer support available 24/5 via phone, email, live chat, and call back.
Cons:
Limited options for those who prefer a low minimum deposit or zero commission account.
Pro account holders are charged a commission of USD 3.5 per side, which may be relatively high for some traders.
Limited to only a few trading platforms, which may not suit traders who prefer other platforms.
The maximum leverage available of up to 1:1000 for the Optimum account may be too high for some traders who prefer a lower level of risk.
The customer support service does not offer 24/7 assistance.
Advantages | Disadvantages |
FX Choice offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, FX Choice has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
FX Choice is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FX Choice acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FX Choice has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FX Choice or any other MM broker.
With a history between 2 and 5 years, FX Choice is an online forex broker regulated by FSC and is dedicated to providing a series of common forex instruments.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of trading markets including currency pairs, indices, commodities, metals, energy, cryptocurrencies, and stocks | None found |
FX Choice offers a vast selection of tradable instruments, including forex, indices, commodities, metals, energy, cryptocurrencies, and stocks. This wide range of markets provides traders with numerous opportunities to diversify their trading portfolio and take advantage of different market conditions. For instance, traders can choose to trade the highly liquid forex market, take positions on the commodities market, or trade the popular cryptocurrency markets. Additionally, traders can access various indices, energy, and metal markets to take advantage of market opportunities. Overall, the broad range of trading instruments on FX Choice makes it a suitable broker for both new and experienced traders who want access to multiple markets. No disadvantages were found in this dimension.
Advantages | Disadvantages |
Competitive spreads | Pro account commission of USD 3.5 per side is relatively high |
No commission on Classic and Optimum accounts | Optimum account has higher spreads compared to other accounts |
Rebates available on Pro account |
FX Choice offers competitive spreads on all its account types. The Classic account has spreads starting from 0.5 pips, while the Optimum account has spreads starting from 1.5 pips. The Pro account has spreads starting from 0 pips but charges a commission of USD 3.5 per side, which is relatively high compared to other brokers. However, rebates of up to USD 2 per side are available for high-volume traders on the Pro account. There are no commissions charged on the Classic and Optimum accounts, making them suitable for traders who do not want to pay additional fees. Overall, FX Choice's spreads are competitive and can be considered an advantage for traders.
Demo Account: FX Choice provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live account: FX Choice offers three account types: Classic, Optimum, and Pro Accounts. The Classic Account has a minimum deposit of USD 100 and offers tight spreads starting from 0.5 pips. The Optimum Account, on the other hand, requires a minimum deposit of only USD 10 but has wider spreads starting from 1.5 pips. The Pro Account has a minimum deposit of USD 100 and offers the tightest spreads starting from 0 pips. However, it comes with a relatively high commission fee of USD 3.5 per side. All account types allow for a minimum lot size of 0.01 lots, and the leverage for forex and metals trading ranges from 1:200 to 1:1000. Moreover, the accounts support different markets, including forex, indices, metals and energies, cryptocurrencies, and stocks, among others.
Classic Account | Optimum Account | Pro Account | |
Minimum deposit | USD 100 | USD 10 | USD 100 |
Tight spreads starting from | 0.5 pips | 1.5 pips | 0 pips |
Minimum lot size | 0.01 lots | 0.01 lots | 0.01 lots |
Commission charged Negative figure under ‘Commission’ in trade history | No | No | USD 3.5 per side (USD 1.5 for high-volume traders, see Pips+), per notional amount of USD 100,000 |
Rebate added Above-zero figure under ‘Commission’ in trade history | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | Up to USD 2 per side, per notional amount of USD 100,000. See Pips+. | No |
Leverage | Forex, metals — up to 1:200; more markets. | Forex, metals — up to 1:1000; more markets. | Forex, metals — up to 1:200; more markets. |
Margin level for hedge/lock positions | 50% | 50% | 50% |
Execution | NDD, Market | NDD, Market | NDD, Market |
Margin call / Stop out | 25/15 | 25/15 | 25/15 |
Forex CFDs | 36 currency pairs | 36 currency pairs | 36 currency pairs |
More CFDs | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares | Indices, Metals & Energies, Crypto, Shares |
Advantages | Disadvantages |
MetaTrader 4 (MT4) platform available | No proprietary platform |
MetaTrader 5 (MT5) platform available | No cTrader platform available |
WebTrader platform available |
FX Choice offers three popular trading platforms to its clients: MT4, MT5, and WebTrader. The MetaTrader platforms are well-known for their advanced charting capabilities and algorithmic trading options, making them ideal for both novice and experienced traders. The WebTrader platform is a browser-based platform that allows traders to access their accounts from anywhere without the need for downloading any software. However, FX Choice does not have its own proprietary platform, which may be a disadvantage for traders who prefer a more customized trading experience. Additionally, the absence of the cTrader platform may be a drawback for traders who prefer this platform for its advanced charting and order execution features. Overall, the availability of the popular MetaTrader platforms and a browser-based WebTrader platform provides traders with flexibility and accessibility to trade from various devices.
Advantages | Disadvantages |
Allows for higher potential profits with smaller initial investment | Higher leverage increases risk of large losses |
Greater flexibility in trading strategies and positions | Can lead to overtrading and poor risk management |
Enables traders to access larger markets with limited capital | Inexperienced traders may be tempted to use high leverage without understanding the risks |
Can increase trading volume and potential returns | Market volatility can quickly wipe out an account with high leverage |
FX Choice offers maximum leverage of up to 1:1000 for Optimum account and 1:200 for Classic and Pro account, which allows traders to open larger positions with a smaller amount of capital. This can be advantageous for traders who have a good understanding of risk management and use leverage wisely to maximize their trading opportunities. However, high leverage can also lead to large losses if traders do not use it responsibly. It is important for traders to understand the risks involved and have a solid trading plan in place when using high leverage. Additionally, traders should always consider the market conditions and volatility before using high leverage in their trades.
Advantages | Disadvantages |
Multiple deposit and withdrawal options | Some deposit/withdrawal methods may not be available in certain countries |
15% deposit bonus available | Withdrawal fees may apply |
Cryptocurrency deposits and withdrawals available | Bonus terms and conditions may apply |
Fast processing time for most payment methods |
FX Choice offers clients a wide range of deposit and withdrawal options, including cryptocurrencies, Visa, Mastercard, Skrill, Neteller, and many more. The 15% deposit bonus is also an attractive feature for new clients. However, some payment methods may not be available in certain countries and withdrawal fees may apply. It's also important to note that bonus terms and conditions may apply. In general, FX Choice aims to process payments quickly, which is a positive aspect for clients looking for a fast and efficient payment system.
Advantages | Disadvantages |
A wide range of educational resources including market signals, autotrade, copy trading, VPS, news, trading signals, and EA | Limited educational materials for beginners |
Access to professional trading tools | Some resources may require additional fees or commissions |
Customizable tools to meet individual needs and preferences | |
Opportunity to learn from experienced traders |
FX Choice offers a variety of educational resources that cater to the needs of traders at different levels of experience. The platform provides a range of professional trading tools that traders can use to improve their skills and knowledge. The educational resources available include market signals, autotrade, copy trading, VPS, news, trading signals, and EA. These resources are customizable, allowing traders to tailor them to their individual needs and preferences. Additionally, traders can learn from experienced traders by using the platform's copy trading features. While FX Choice offers a wide range of educational resources, there may be limited materials for beginners, and some resources may require additional fees or commissions. Overall, the platform offers a strong set of educational resources for traders looking to improve their trading skills and knowledge.
Advantages | Disadvantages |
24/5 customer service available | No 24/7 customer service available |
Support in multiple languages | No local phone numbers for some countries |
Various contact methods available | No physical office for some regions |
Quick response time through live chat and phone | Limited information on the website about customer service protocols |
Call back service available |
FX Choice offers 24/5 customer service to its clients, providing support in multiple languages through various channels such as email, phone, live chat and call back service. The quick response time through live chat and phone is an advantage, ensuring that clients can get their issues resolved promptly. However, the lack of 24/7 customer service and local phone numbers for some countries could be a disadvantage for clients in those regions. While FX Choice has a physical office, it may not be accessible to some clients. The website could also provide more information about the customer service protocols in place to manage clients' issues. Overall, FX Choice's customer care dimension provides a good level of support to its clients.
FX Choice is a well-established online trading platform that provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. The platform offers multiple account types, educational resources, and 24/5 customer support in various languages. It also provides various deposit and withdrawal options, making it easy for traders to manage their funds. One of the most significant advantages of FX Choice is the availability of the MetaTrader platform, which is a popular and user-friendly platform used by many traders worldwide. While there are some disadvantages, such as the limited availability of some services, FX Choice remains a reputable and reliable platform for both beginner and experienced traders looking to trade various financial instruments. Overall, with its comprehensive trading features, customer support, and user-friendly platform, FX Choice is an attractive choice for traders looking for a reliable online trading platform.
Question: What is FX Choice?
Answer: FX Choice is an online forex and CFD broker that offers trading services to retail and institutional clients.
Question: What types of accounts does FX Choice offer?
Answer: FX Choice offers three types of accounts: Classic, Optimum, and Pro.
Question: What is the minimum deposit to open an account with FX Choice?
Answer: The minimum deposit to open a Classic account is USD 100, while the minimum deposit for an Optimum account is USD 10, and for a Pro account, it is USD 100.
Question: What is the maximum leverage offered by FX Choice?
Answer: FX Choice offers leverage up to 1:1000 for Optimum account and 1:200 for Classic and Pro accounts.
Question: What trading platforms are available at FX Choice?
Answer: FX Choice offers the popular trading platforms MT4, MT5, and WebTrader.
Question: What are the deposit and withdrawal methods available at FX Choice?
Answer: FX Choice offers various deposit and withdrawal methods, including credit cards, e-wallets, bank transfers, and cryptocurrencies.
Question: Does FX Choice offer educational resources for traders?
Answer: Yes, FX Choice provides educational resources such as market signals, autotrade, copy trading, VPS, news, trading signals, and EA.
TriumphFX Review Summary in 10 Points | |
Founded | 2009 |
Headquarters | Cyprus |
Regulation | BaFin, CYSEC |
Market Instruments | Forex, precious metals |
Demo Account | Available |
Leverage | 1:30 for retail/1:500 for professional |
EUR/USD Spread | 0.4 pips |
Trading Platforms | MT4 |
Minimum deposit | $/€/£100 |
Customer Support | phone, email |
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.
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.
Pros | Cons |
• Regulated by BaFin and CYSEC | • Too many complaints from users |
• Offers multiple account types | • Limited range of tradable instruments |
• Competitive trading conditions | • Limited educational resources |
• Wide range of payment methods available | • No 24/7 customer support |
• User-friendly MT4 trading platform | • Limited research and analysis tools |
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.
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.
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.
Protection Measure | Detail |
Regulation | BaFin and CYSEC |
Investor Protection | Segregated client funds are separated from the firm's operational accounts. The clients' funds are kept in leading investment global banks. |
Negative Balance Protection | Your live trading account balance is always protected from dipping into a negative status and TriumphFX will absorb the loss if it does. |
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.
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.
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.
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.
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:
Broker | EUR/USD Spread | Commission |
TriumphFX | 0.4 pips | No |
XM | 0.1 pips | No |
Pepperstone | 0.1 pips | No |
IG | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility.
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:
Broker | Trading Platform |
TriumphFX | MetaTrader4 |
XM | MetaTrader4, 5 |
Pepperstone | MetaTrader4, 5 |
IG | MetaTrader4, ProRealTime, L2 Dealer, IG Trading Platform |
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.
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.
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 | Most other | |
Minimum Deposit | $/€/£100 | $/€/£100 |
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.
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.
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.
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.
Q 1: | Is TriumphFX regulated? |
A 1: | Yes. It is regulated by BaFin and CYSEC. |
Q 2: | Does TriumphFX offer industry-standard MT4 & MT5? |
A 2: | Yes. TriumphFX supports MT4. |
Q 3: | What is the minimum deposit for TriumphFX? |
A 3: | The minimum initial deposit with TriumphFX is $/€/£100. |
Q 4: | Is TriumphFX a good broker for beginners? |
A 4: | No. It is not a good choice for beginners. There are too many negative reviews from their users saying that they have difficulty withdrawing. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fx-choice and triumphfx are, we first considered common fees for standard accounts. On fx-choice, the average spread for the EUR/USD currency pair is from 0 pips, while on triumphfx the spread is From 0.1.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fx-choice is regulated by FSC. triumphfx is regulated by BaFin,CYSEC,FCA,VFSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fx-choice provides trading platform including Pro,Classic,Optimum and trading variety including 36 currency pairs; Indices, Metals, Commodities, Energies, Cryptocurrencies. triumphfx provides trading platform including Premium Account,Gold Account,Classic Account and trading variety including --.