Breaking! Revealing TriumphFX & its TFX Coin!

Recently, WikiFX featured a highly controversial broker that is the talk of the town, typically in Southeast Asia.

Read the full article here: https://www.wikifx.com/en/newsdetail/202212166604475334.html

The reason behind TriumphFX having a foul name is that it is a notorious money game scheme disguised as a forex broker. A money game could bring profits to a participant if they entered the “game” at the right time.

In order to unveil the background story of the latest TriumphFX issue, we have to start from its TFX coin on Triumph Exchange (TEX). Yes, you read that right - TriumphFX launched its own coin that is currently under its own exchange! This radical move left its participants shocked and helpless because their funds were now entirely dominated by TriumphFX.

To illustrate this in an easier manner:

Mister A started trading with TriumphFX with a deposit of 1,000 USD in January 2020. His funds grew to 2,000 USD by November 2022.

When TriumphFX launched its TFX coin and TEX, all clients' initial deposits of USD were converted by default to TFX.

TFX was originally advertised as having a 1:1 rate to USDT, wherein USDT has been commonly known to have a rate quite close to the U.S. dollar (USD).

However, look at the daily chart of the price of TFX against USDT. Its fluctuation was as dramatic as a roller coaster since its official launch day.

The shocking fact is that TFX is now trading against USDT at a rate of 0.214.

Going back to our example above and consider 2 circumstances:

(1) If Mister A cashed out all of his funds in November 2022, he could have walked away with 2,000 USD.

(2) If Mister A did not cash out his funds and continued to leave his fund with TriumphFX, his 2,000 USD would have been converted into TFX coins, which is now equivalent to only 428 USD (2000 x 0.214). Even Mister A successfully grew his account by 100%, with the coin conversion, he wouldve lost more than half of his initial deposit, not to mention his profits.

Also, think about it from another perspective:

Mister A deposited 1,000 USD one day before TriumphFX released the coin in early December. Even if he did not take a single trade nor participant in TriumphFX's PAMM services, his 1,000 USD would have become a shocking 214 USD in just a few weeks. This example clearly displays the negative impact and consequence a late participant in any 'money game' must pay.

Not just that, as TFX coins are only traded on TEX and nowhere else, TriumphFX fully controls the buy and sell of these coins. Unlike the ordinary exchanges whereby trades can take place 24/5 or 24/7, TriumphFX only allows trading during its own appointed hours. That said, as mentioned above, the value of TFX coins is also deteriorating drastically. Another day longer with TriumphFX would mean a bigger loss.

How can one determine if they are late to the game？ Nobody knows the truth except for the syndicates behind it. Until individual participants realised the ugly truth, the syndicates would have quietly exited the game with a significant amount of money unknowingly. Just like any money game scheme, once participants face issues of inability to withdraw due to the decreasing amount of funds circling in the system, everything will collapse.

It seems that TriumphFX users are not happy with this radical change. These comments were taken from TriumphFXs official Facebook page.

Therefore, it is important to pay care and attention to choosing a forex broker. Download the free WikiFX mobile app to help you conduct this research efficiently and effectively!