TriumphFX provide no information on their website about who owns or runs the business.

The TriumphFX website domain (“”) was first registered on January 12th, 2008. The domain registration details were last updated on April 24th, 2016.

Unfortunately the TriumphFX domain registration is private and provides no information about company ownership.

Alexa currently estimate that 76% of traffic to the TriumphFX website originates out of Malaysia. In addition to revealing where the company is primarily marketed, this also suggests whoever is running TriumphFX is also based out of Malaysia.

A Vanuatu Financial Services Commission certificate is provided on the TriumphFX website, however this appears to be irrelevant as TriumphFX has no operations in Vanuatu.


Update 23rd July 2021 – Scattered breadcrumbs have tied TriumphFX operation and ownership to Leong Koon Wah (right).

Wah, who also goes by Hermes Leong, is a Singaporean scammer.

He was arrested in 2018 on charges related to the Singliworld pyramid scheme. /end update


As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

TriumphFX Products

TriumphFX has no retailable products or services, with affiliates only able to market TriumphFX affiliate membership itself.

The TriumphFX Compensation Plan

TriumphFX affiliates invest funds and “attach” them to TriumphFX traders.

TriumphFX traders purportedly generated profits via the third-party MetaTrader 4 forex trading platform.

When a fund manager is making profit from his trades, so does the investors. Fund managers usually call for profit sharing once per 5 weeks or more.

Clients who have attached fund to the fund managers will be entitled for profit sharing based on the total fund clients have attached.

An example on the TriumphFX website suggests the trader receives 40% of generated profit, with the remaining 60% shared with TriumphFX affiliates.

Referral Commissions

TriumphFX affiliates earn a 5% referral commission when personally recruited affiliates invest.

Residual Referral Commissions

If a TriumphFX affiliate recruits five affiliates who each invest at least $3000, they qualify for residual referral commissions.

TriumphFX pay residual referral commissions via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

TriumphFX cap payable unilevel levels at ten, with commissions paid out as a percentage of automated ROI profits.

  • level 1 (personally recruited affiliates) and level 2 – 20%
  • levels 3 and 4 – 10%
  • levels 5 and 6 – 5%
  • levels 7 and 8 – 3%
  • levels 9 and 10 – 2%

Rebate Pool

10% of commissions generated within TriumphFX are placed into a Rebate Pool.

Affiliates who qualify for residual referral commissions can acquire shares in the Rebate Pool as follows:

  • invest $10,000 and receive one share
  • invest $20,000 and receive two shares
  • invest $30,000 and receive three shares
  • invest $40,000 and receive four shares
  • invest $50,000 and receive five shares

Master IB Commission Pool

The Master IB Commission Pool is a bonus percentage paid on company-wide commission payouts.

There are three IB Commission Pools a TriumphFX affiliate can earn in, based on total downline volume:

  • Standard Pool (5%) – generate $50,000 in downline investment volume
  • Expert Pool (3%) – generate $100,000 in downline investment volume
  • Professional Pool (2%) – generate $300,000 in downline investment volume

Joining TriumphFX

TriumphFX affiliate membership is $100 for a personal account or $3000 for a company account.

Note that these are minimum funding amounts, an affiliate is free to invest beyond these amounts.


On the surface TriumphFX looks pretty straight forward.

You invest, attach your investment to a TriumphFX trader, watch them trade and if they profit you get a share of 60% of the profit. Conversely if they lose, you lose.

Once you factor in the MLM compensation plan though, things start to fall apart.

Off the bat 5% of invested funds are paid out as a referral commission.

And if an affiliate has recruited three investors ($10,000 each), this balloons out to 20% across the first two unilevel levels.


The TriumphFX compensation plan states that unilevel commissions are ‘generated from 30% of the Trading Profits from client’s accounts‘.

Where is that money coming from?

40% of trading profits are kept by the broker and 60% paid to affiliates. There’s no mention of 30% of 60% being withheld to pay referral commissions on the TriumphFX website.

And what happens if a trader loses money?

Further draining the trading fund pool is the Rebate and Master IB Commission Pools.

These pools are purportedly funded by commission payouts, yet again there’s no confirmation on the TriumphFX website.

Taking a step back, there’s also the issue of TriumphFX offering no retail products or services.

Commissions are tied to affiliate recruitment, making TriumphFX a pyramid scheme.

Additional factors working against the company are the fact that it appears to be based out of Malaysia (forex scams are rampant in Malaysia) and the exclusion of US investors:

TriumphFX does not service US entities or residents of any kind.

Other than trying to cover up something dodgy going on, there’s no legitimate reason to prohibit investment from US residents.

On that note TriumphFX’s Vanuatu registration is a joke and reeks of deceptive business practices.

There’s also a $25 to $75 withdrawal fee to discourage people pulling money out of the system, on top of not really knowing who runs TriumphFX.

Some trading might be verifiable through MT4, but otherwise there’s far too many unknowns and suspicious activity within TriumphFX to take it seriously as a legitimate MLM company.


Update 10th October 2022 – TriumphFX has collapsed.