TriumphFX Review: MT4 profit sharing with pyramid recruitment
TriumphFX provide no information on their website about who owns or runs the business.
The TriumphFX website domain (“tfxi.com”) 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 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.
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%
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
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.
Only 10% of trading profits are kept by the broker. The remaining 30% is paid as commission and referrals.
Was quoted at 40% when I wrote the review. Proof it’s since changed?
There’s an infographic on the TriumphFX website that still represents 40% is set aside for the “Fund Manager”.
10% is paid to the trader, not the broker.
30% is paid to the IBs as referrals.
60% is the investor profit share.
Why is Vanuatu license a joke? Please explain the unethical business practices. BTW I am an Amway distributor and I don’t see any problem with network marketing.
Getting paid to recruit in MLM = pyramid scheme.
Because a securities offering requires registration with authorities in every jurisdiction it operates in.
A tiny island nation like Vanuatu isn’t going to properly regulate securities, which is precisely why the scammers running TriumphFX incorporated there.
Unless you’re actually running a company from Vanuatu, there’s no legitimate reason for a legitimate MLM company to incorporate there.
Awesome. Here’s a cookie.
I dunno what business world you come from. Insurance (Ozedit if you wish to discuss other companies, do it elsewhere. Offtopic derail attempts removed)
As long as all payments are audited and accounted for, no issue here.
Feel free to provide audited accounting sourcing every last dollar paid to TriumphFX affiliates.
The pyramid scheme commissions alone make TriumphFX illegal the world over.
So what if I have a company incorporated in (Ozedit: If you wish to discuss other companies, do it elsewhere)
I don’t think you can call BVI, Labuan, and every other tax haven “small islands” as unscrupulous.
Why not? There’s no legitimate reason for an MLM company to be incorporated in a dodgy tax-haven.
A good rule of thumb is running for the hills anytime you come across an MLM opportunity incorporated on an island in the middle of nowhere.
Just find it weird the way you term “illegal”. This is your personal belief.
If authorities want to take action, they must act on substance. (Ozedit: Offtopic derail attempts removed)
Nah. The law is the law and pyramid schemes are illegal the world over.
Evidence of TriumphFX’s pyramid scheme is in their business model for all too see, as broken down in this review.
I’m marking your continued attempts at legitimacy by association and strawman arguments about non-MLM companies as spam. Stop wasting my time.
The above article has some mis-information, the rates are 10% trader, 30% IB refs 60% investors, the different licences allow for individual verse fund trading, they have improved their licence profile and compliance as company has developed, and they have proved to be true to their profile so far.
the 30% pool never impacts the 60% of investors which creates incentive, and it is forex so it comes with the same risks all forex traders accept, it just allows the little people a chance to share in this market if they wish, not just the big players.
The review is date-stamped and was accurate as at the time of publication.
No they haven’t. TriumphFX still operates as a pyramid scheme.
You can’t “license” and “compliance” your way out of pyramid fraud.
And if the trading is as good as you represent it to be, why then has TriumphFX’s website Alexa ranking tanked over the past year?
Obviously because recruitment has died, but why would it if the trading was profitable?
The funny thing is that 100% scams that happened used brokers which are non-pyramid.
The broker earns the commissions, investor takes 60, trader takes the entire 40… and then wham! All profits and IB commissions vanishes with the Trader. The broker is still legit and nothing happens there.
TriumphFX decided to close this gap by acting as a “trustee” to pay IB commissions directly, bypassing the Trader. So far I haven not heard of a single person being scammed by TriumphFX.
One only needs to know that the financial industry is not interested in going after the real culprits, by ensuring this gap remains exposed for years and years.
If you have the identity and trader’s MT4 report to show that he has actually been scammed, please let me know.
I am very interested to know this victim. I’m pretty sure there are hundreds of thousands of victims out there today. Please help me locate them 😀 😀 😀
If TriumpFX has consistently been generating profits for over two years, why isn’t everyone on the planet using it?
Despite your claims, TriumphFX’s Alexa website ranking is almost 1 million. For an MLM business opportunity that’s borderline dead.
Only reason TriumphFX would collapse is if recruitment dies (it’s a pyramid scheme), which means the FX side of the business is bogus.
So far has anyone been able to verify a scam? It’s been years right? I actually met some one who claims he has invested for years and payment has been prompt.
Surely after so many years if it were a scam why hasn’t there been complains after complains from the victims?
It’s always reviews which say it’s scam.
Alexa shows TriumphFX was collapsed throughout most of 2019. Someone in Malaysia started recruiting again in early 2020.
The victims will be in Malaysia, whether they complain or not is neither here nor there. The MLM side of TriumphFX is a pyramid scheme and that will generate losses.
I’m in Singapore and invested since October 2019 with TriumphFX. Funded my capital with the fund manager DS Trader and have been getting more than 4% returns every month.
Did multiple profits withdrawal as well and all went smoothly. There’s even telegraphic transfer from Wells Fargo as their remitting bank with TriumphFX Int. Limited as the ordering party. Seem legitimate to me so far.
There’s nothing legitimate about securities fraud and pyramid recruitment.
Also 4% * 12 = 48%. Like any other fraudulent investment scheme, shit hits the fan when withdrawals exceeds invested funds.
In my opinion, if it’s like any other fraudulent investment scheme. They won’t even bother giving back 48%. Every investment have their risk and it’s up to individual to take. (Ozedit: derail removed)
Been joining since year 2014, invested in few funds under fund management.
No problem in withdrawal, 1 day into my local bank.
I am happy with the result every month.
Master fund account Overall withdrawal is more than deposit, which means this is market maker with real trades and the profit is real money and ready to withdrawal anytime you like.
5 star for it.
^^ Conveniently didn’t address TriumphFX’s pyramid recruitment compensation plan.
TriumphFX will collapse within the next 10 months.
It is clearly a ponzi and they do not showcase the real time trading. Why? Running a rigged trading?
Which source did you find that says TriumphFx will collapse in another 10 months?
In my understanding, they only provide read-only MT4 account to prevent other people to copy the exact same trade they are making LIVE.
Hey, seen these type of ponzi scheme since 80s. The maximum lifespan of this program will be around 24months.
Someone is trying to convince me very hard claiming she has been getting 50% returns.
A minimum of USD2k. But then again i have seen so many of these cases. They all look legit and rosy till it doesn’t.
And yes, this has now bloomed in Malaysia starting late 2019.
Forex trading exist, but when they attach it as a pyramid mlm.. it’s a red flag.
Remember VenuxFx.Google it. Say all you want.. till the fat lady sings..
looking at post upper, mention will collapse within 1 or 2 years time, tfxi.com existed since 2008, and if this is real Ponzi scheme, it already boomed since 10 years ago.
i am a Investor with tfxi.com since 2015 and what can i share is about the overall business strategy is healthy and IB wont get overpaid, it is based on the real profit gain from the 30% parts.
if IB get overpaid meaning company taking bottom people money to pay upper people, which will boomed within 1~2 years like other Ponzi scheme.
even you are not working out as IB, like myself, then 60% profit sharing already made myself gain > 300% profit since 2015 depending on your fund manager selection.
some really great Fund Manager like GMtrader (since 2014), SM trader, Ds Trader. Yuri, Nikolay and many more.
Most of the good Fund manager, based on the master account, overall withdrawal > deposit, meaning real gain. Ponzi scheme u will never get withdrawal > deposit and they wont review master account info.
overall smooth withdrawal since 2015 till today to my Malaysia Local bank, normally 1~2 days follow bank rate.
Indeed there a lot scammer out there asking to transfer fund into personal account or company account. (which is scam)
Just double sure that your account and money is inside tfxi.com or tfxi2.com before you judge the broker.
TriumphFX hasn’t been around since 2008. The domain was for sale in 2011.
It was purchased by TriumphFX as we know it today sometime between 2011 and 2013. You can verify this yourself on the Wayback machine.
Also the term Ponzi scheme doesn’t appear anywhere in the review.
Many people say its a scam due to the fact that the trading time was not revealed.
FYI, I personally have access to a fund manager’s execution read only account in MT4 & I can see their execution time & closing time. Once the trade has been closed, it will show to the investors separate read only account immediately. So I can’t say its fake or making fake trades as I am able to see its opening & close position real time.
Secondly, I came across many reviews saying TriumphFx has scammed many victims through HK & New Zealand. I found that this scam was operated by TriumphFx Asia Global Limited (tfxg.com) back in 2014 to 2015 together with singliworld.ltd Singapore. I believe BehindMLM do have an article regards to this. It is totally a different company.
Lastly, to address your statement of pyramid scheme Oz, TriumphFx Fund Manager plan is segregated to 60%/40%. 60% for Investor & 40% is for Fund Manager you are correct.
Do note the term “fund manager” is not similar to “trader”. Fund Manager represents a group of traders + MIB. Depending on various Fund Manager, the balance 40% profit is then distributed depending on their own jurisdiction.
Some Fund Manager will separate 30% IB Commission +10% (trader commission) (which makes up the 40%). I have seen certain Fund Managers segregating the 40% differently such as 20% IB Commission + 20% Trader.
All of this can be seen in TriumphFx’s Fund Manager page. Hence, overpaying is unlikely as all IB commission comes from the 30% or 20% (or whatever % the fund’s management team sets).
I hope that solves most of the doubts. FYI I am not from a management team or hardcore supporter of TriumphFx. I too am investor & my conservative personal behavior have lead me to do deep research on most things for the broker.
This is not a substitute for audited financial reports. It means nothing.
In light of TriumphFX hiding who owns the company, this is doubtful.
And? MLM + no retail = pyramid scheme.
Legitimate companies don’t operate with this TriumphFX’s level of shadiness.
Hey OZ regardless how much issues u have with TriumphFX, there will still be ppl going in…no point ranting abt this Ponzi / MLM thing …cos there will still be ppl making money from this scheme..
Some ppl will believe it and some don’t (eg yourself) its ok if you don’t believe this.
Fyi ..in FX world..getting a 10% monthly return is not that hard…anyways regardless of whether DON or LEE gets to see the real master account doesn’t affect me or any of us out there.. cos he is still making his money… they are just trying to make a point..definitely not against you.
So in short either you are in the system making money or out of the money..ranting doesnt make u money…
For me i am in another system, not Triumph…but i do make in excess of $1.5kUSD a day…and i withdraw my profits every week.. so i understand where these guys are coming from.
Anyway OZ thanks for highlighting your points..
just my 2 cents
Cool. Don’t care.
Not interested in what you believe, only facts. And the fact is TriumphFX is operating as a pyramid scheme.
What you do or don’t do with that information has always been up to you. Not everyone is out to make a quick buck scamming.
Let’s see where do I start?
Let’s do some math;
15 networks x 2 funds per network (low estimate) x 10 profit distribution a year x 7 years running the fund management programs
= 2700 pay outs
– Each managed fund has a different pay out date, all running simultaneously
– Each fund trades independent which can be verified by using the investor password to mt4
– Each fund is transparent of funds coming into and out of these respective funds on mt4
What is a pyramid scheme ponzi? Very simply put when new money pays old money. And when there is no new money the pyramid is broken and fails.
With the payment structure of 60% 30% 10%, it must be clearly said that that split from earnings made from trades during that cycle (5 weeks). And now recently even 4 weeks cycle funds are available. Each network is run independently from each other and from Triumphfx.
The referal program, has a total possible payout of 100% of the 30% which the fund manager keeps.
In short, there is no bubble from the referal program. Because the referal doesn’t pay out more than the 100% of the 30% given to the fund manager.
There is no pyramid scheme because all payments are issued from earnings from trades, which are transparent for all the view on mt4.
Lastly, the managed funds program has been running for 7 years. You mention that it died or the bubble burst some years back and someone started it again in 2019.
I personally know an investor who has been invested and has never had an issue with withdrawals. He has been invested for 7 years. I have seen his account with my own eyes.
I suggested you register an account and research from the inside, versus standing on the outside making insinuations about Triumphfx being unsafe.
A brokerage running for 12 years and managed funds running for 7 years. We would have heard from real investors if they have had issues with any withdrawal they may have encountered.
All negative comments have come from a) people who have posted fails information. And know little about how it works. Everything is transparent for all the see when you register an account, inject your funds and get the investor password to the respective fund managers.
If you require and invitation let me know. You can dig further.
Have a good day
Nobody said there was. TrumphFX is operating as a pyramid scheme.
Nobody said there was a problem with withdrawals. Website traffic stats clearly show a collapse and then recruitment started up again in Malayisa.
If you have to move the goalposts and come up with irrelevant defenses you’ve already lost.
Prove it with audited financial reports. Your backoffice is not a substitute.
You have zero knowledge of anyone else commenting here.
Alexa web stats show TriumphFX has spread from Malaysia to Singapore and Hong Kong. It’ll collapse again when this new round of recruitment inevitably runs its course.
It has never collapsed…using your words. Because it’s not a ponzi. Profit distributions is paid from earnings from trades which is published to all investors.
If it had collapsed, wouldn’t you think there would be hundreds of posted from actual victims? All reviews are from people like yourself. Where are all the victims if Triumphfx actually collapsed?
I personally know an investor of 7 years.
(recruit spam removed, first and last warning)
You can deny all you want son. An MLM company with no website traffic = collapsed.
Prove it with audited financial reports.
I said recruitment collapsed, not TriumphFX itself. Although it would have collapsed had whoever it was in Malaysia failed to find new recruits.
And in any case no, victims of fraud are typically quiet. I cover MLM collapses frequently on BehindMLM and rarely do victims participate in the comments (although thousands will read our articles).
Claiming there was no collapse because victims didn’t voice concern is making excuses for scammers.
I am not sure whether TriumphFx allows me to post this information, but I am going to post it either way.
These below are records of ALL sustainable Fund Managers in TriumphFx since 2013 GM Trader until now. As you can see almost 60% of TriumphFx’s Fund Manager have overpaid their investors.
How can a ponzi scheme scammer sustain in 12 years by overpaying it’s investors?
Data Below collected up to 2nd June 2021.
GM Trader (2013) – Deposited amount: $139,819,200; Withdrawal amount:230,537,713.73; Overpaid: $90,718,513.73USD
GM Trader II (2016) – Deposited amount: $107,440,000; Withdrawal amount: $158,662,594.14; Overpaid: $51,222,594.14
SM Trader (2018) – Dep: $30,128,000; W/D: $42,488,939.23; OP: $12,360,939.23
Victoria Trader (2017) – Dep: $ $13,143,000.00; W/D: $ $19,055,659.58; OP: $5,912,659.58
Di Sheng Management (2017) – Dep: $56,142,100.00; W/D: $99,883,846.62 ; OP: $43,741,746.62
DS Trader (2019) – Dep: $32,572,900.00; W/D:$35,475,787.83; OP: $2,902,887.83
Nikolay Divinsky (2020) – Dep: $32,183,000.00; W/D: $38,086,073.56; OP: $5,903,073.56
Yuri Rothenberg (2019) – Dep: $43,361,500.00; W/D: $71,922,841.48; OP: $28,561,341.48
AMG Capital (2020) – Dep: $31,679,100.00; W/D:$33,436,680.62; OP: $1,757,580.62
TOTAL OVERPAID FUND MANAGERS: $243,081,336.79USD
Now, lets count which fund managers in TriumphFx have not yet overpay its investors.
Jaguar Robot (2020) – Dep:$26,000.00; W/D:$6,776.65; Underpaid: $19,223.35
GMC Trader (2020) – Dep: $40,294,000.00; W/D: $5,457,343.72; Underpaid: $34,836,656.28
Data Trader 1 (2019) – Dep: $4,054,800.00; W/D:$1,253,651.43; Underpaid: $2,801,148.57
Data Trader 2 (2020) – Dep: $12,068,600.00; W/D: $6,049,722.96; Underpaid: $6,018,877.04
Cloud Data (2019) – Dep: $3,449,200.00; W/D: $1,447,688.99; Underpaid: $2,001,511.01
Cloud Data Gold (2020) Dep: $2,435,600.00; W/D:$1,925,054.91; Underpaid: $510,545.09
TOTAL UNDERPAID FUND MANAGERS: +$46,187,961.34
UNDERPAID FM – OVERPAID FM = -$196,893,375.45USD.
To conclude this, since inception of TriumphFx’s Fund Management program in 2013, TriumphFx have already OVERPAID by nearly $200Million USD.
Where is this money come from? How can a ponzi scammer be so dumb to overpaid 200Million just to get more funds in? My data are recorded from their MT4 tracking.
Oh, people with your mind will say MT4 is fake & they can insert deposit & withdrawal themselves. My answer to that is, you can actually see with your own eyes, each & every withdrawal & deposit made to the Fund Manager’s MT4 has it’s TriumphFx’s ID. You cannot run away from it.
Every deposit & withdrawal is real. I deposited my funds into the fund manager, shortly after I can see my amount attached on which time, which date & my ID was there in the MT4 as well.
Unlike other ponzi scheme, I believe TriumphFx is very transparent in everything they do. I use to be sceptical about it as well but after seeing all the data I believe TriumphFx is running legit brokerage business.
There are also failed fund managers in Triumph as well & usually they don’t last more than a year.
Most Fund Managers that are outperforming have never collapse after 2-3 years or have a margin call.
If you are still sceptical about its pyramid scheme, I can’t say much because companies like Amway are running pyramid scheme too but no one’s bat an eye just because they are not forex industry.
Lastly, I would like to highlight that if you guys really take note on previous scam fund manager’s platform, they usually focus on one fund manager. & they will use the name of the broker only.
In Triumph, they have 30++ fund managers and each works in separate entity. For example, most investors of AMG Capital FM doesn’t even know the existence of other fund manager in Triumph.
What kind of stupid marketing TriumphFx is doing if they want to scam as a whole?
Bernie Madoff’s Ponzi ran for decades.
As long as new investors invest, there’s money to pay out.
Unless audited financial reports are filed with regulators, it doesn’t matter.
The data is unverifiable and therefore meaningless.
The kind where they drip steal from even dumber investors over the years.
The reason why Bernie’s Ponzi ran for so long is because it was retirement money they were investing through self-directed IRA’s or pension plans. They didn’t plan on taking it out for 20-30 years.
Fair point but it was still just a rehashed “how can it be a Ponzi if its lasted for x years?” argument.
I have seen rigorous comment defending MIA Fintech before its collapse. After the collapse, the loser kept quiet.
I would say to defender who try to legitimise Ponzi like TriumphFX… You may have invested years and recoup 300%… But when the scheme collapse, it is your downline/recruit who lose money.. Karma goes a long way,
One of my relative keep asking our family to invest, and half of the family members already in since first MCO in Malaysia.
THis is simply too good to be true, be careful folk.
just filling in.
Now this scheme spreading through in indonesia.
I live in Indonesia and TriumphFX has began to grow rapidly for the past year, some of my families have invested a very huge amount of money and its still running and expanding until now. But I’m not interested at all. Here’s why:
I’m not against MLM but just there’s something very off in this TriumphFX, for those who said that the one that has scammed many victims through HK & New Zealand is a different company with the ones running now, come take a look at this,
It clearly states that one of the websites that they use to scam is tfxi.com
Indonesian government is aware of some illegal brokers that don’t have any permit to operate in Indonesia and have made a list of scam brokers which are officially released at national news, just scroll to the bottom and you can find TriumphFX
The website has been banned in Indonesia and can only be opened using VPN, but now they all use tfxi2.com to continue their operation.
Some of the things that i noticed also is that, TriumphFX’s Vanuatu license that is shown on the bottom part of the website.
As you can check in here:
The company status is “struck off”, I have emailed vanuatu services and it comes out that the company has never renewed its license since 2018 and is not registered in Vanuatu anymore.
Why would a “Legit Broker” put a license number that has expired for over 3 years at their official website? I don’t know you but everything that I have seen just looks very very odd to me.
Not to mention their FCA license which has also expired (Triumph Int Limited 763697) I have emailed the FCA Customer Service and their answer is:
I actually still have many more things that if find it odd but it will be too long. None of my words states that TriumphFX is either legit or scam nor Im trying to persuade anyone in here to invest or not.
I’m just stating the things that I’ve seen with credible sources. I’m just doing this all out of curiosity as my families as i mentioned have invested lots in this and I literally can’t do anything. Only time will tell. Cheers.
Thanks for the heads up on the Indonesian ban. I hadn’t seen that.
Good to hear from someone local doing research. Obviously TriumphFX is the farthest thing from a legitimate broker.
All of the points you raised are red flags and not what you’d see with a legitimate business opportunity.
Review updated with link to article tying ownership of TriumphFX to Singaporean scammer Leong Koon Wah (aka Hermes Leong).
The only simple philosophy of the whole thing with this tfxi is when a mt4 PAMM only show the results but not live most likely is another MIA kind of scam.
And also the trading of this “fund manager “ were so perfect that it executed more than 100 lots per trade which this doubts me which kind of Liquidity provider(book b brokers or big institutions) would be crazy or dumb enough to eat all the trades(which so far damn perfect).
Please note that forex is a zero sum game and investment which when someone profit another side is losing.
So my question is if all is winning in triumph then who is losing to pay the profits??
Will big bank be so stupid to be your consistent loser? Like old man saying, when something is too good to be true, you know the answer most likely is a planned scamwich.
Triumphfx is not regulated by any of the big4 audit firms and lack of transparency of their management team and although Triumphfx has some online presence i.e can be found online via cysec.gov.cy/en-GB/entities/investment-firms/cypriot/77453/ but Cyprus is a high risk Money Laundering country and TriumpFX previous name is G.S.E Golden Sky Europe Ltd (might want to look it up).
Just a word from an ex-banker. Be careful.
Triumph fx my brother has been with them for over 3 years plus another 15 family friends – under Yuri Rothberg Pamm hes been able to almost double his money every year from the returns every 5 weeks.
i jumped onboard about 1 year ago never had any issues with withdrawls happy as Larry!
Yes they do offer incentives to get others joined under there MLM but i dont really take much notice off it.
Im happy with making money simple. As long as i can withdraw my profits and not losing im ahead!
Thanks for stopping by and sharing your moral bankruptcy. But I’m getting paid! is no excuse for joining a pyramid scam.
You’re a piece of shit.
Just received info that TFXI has obtained it’s Seychelles FSA License (License No. SD080). This will prove that TriumphFx is not going to scam as claimed by many critics.
But nonetheless, I’m not surprised if critics is going to say Seychelles FSA License is useless/etc.
You knew it was meaningless when you posted it.
Basic incorporation anywhere when you’re committing securities fraud and running a pyramid scheme = meaningless.
Seychelles and other scam-haven incorporations = even more meaningless.
I’m not saying its meaningless. I’m just highlighting the fact that critics like yourself & some others will do whatever it takes to say these schemes are scam.
I’ve read before Forums that says CySEC is also a scam regulator simply because TriumphFx is also regulated by CySEC.
Come on, if you google “Top 5 Forex License”, CySEC is listed in one of them. That’s the fact. When talking about Seychelles, I’ve seen only reputable brokers that were allowed to acquire their license such as EToro, TickMill etc.
You may research yourself. If Seychelles FSA is a useless regulator, why would reputable brokers want to apply for it’s licenses/regulations?
But again, what I say above is useless to critics as they will say some random un-factual statement just to fit their point.
Cyprus being a joke jurisdiction has nothing to do with Triumphfx. These are joke jurisdictions because they have no active MLM securities fraud regulation.
It’s why scammers incorporate there. Looks good on paper but is meangingless.
Based on your acknowlegement of these dodgy jurisdictions you already know this.
You have been ranting about TriupmhFX for close to 4 years now. Looks like their customer base has increased with more investors joining and profiting.
I know your usual response. “It is a pyramid”.
Please don’t come barking at me. I am no investor anywhere, just window shopping.
I typically don’t waste my time with garbage human beings who look at a pyramid scheme like TriumphFX and think “this is fine”.
How many victims a scam racks up and how many years it runs is irrelevant. BehindMLM has and will continue to document TriumphFX’s fraud.
This statement above Oz, shows that (Ozedit: TriumphFX is a pyramid scheme committing securities fraud).
If you’re not going to address TriumphFX committing securities fraud and running a pyramid scheme, we’re done here.
You and your scamming friends stealing money through TriumphFX committing securities fraud and running a pyramid scheme.
To those who is defending TriumphFX like @Benjamin Australia, @Salvatore, check out the latest news at (Ozedit: paywall article link removed) and “thestar.com.my/news/nation/2021/01/09/police-bust-forex-scam”
Those scammers will gather all the funds for around 10 years before they disappear and read about the news link provided above.
Alex, yes I have read the news as well. I’m not defending TriumphFx.
I’m just having a healthy debate & seek for validations as claimed. But I’m done commenting anything here after I realize Oz / The Admin of this BehindMLM keeps removing the proofs/facts I have stated that doesn’t side on his standings.
I, myself am skeptical on TriumphFx as well but I always stay between the lines before doing my judgement. But you will always find 1 sided comments here & any comments that is against the admin’s side will be removed or Edited.
There is no “admin’s side”. TriumphFX is committing securities fraud and running a pyramid scheme.
These are facts. There is no “healthy debate” that changes these facts.
You are welcome to provide evidence demonstrating TriumphFX has registered with financial regulators. Till now you have failed to do so.
Marketing bullshit is not a substitute for this evidence and will be marked as spam.
Err, didn’t I just said above TriumphFx has obtained Seychelles Financial Service Authority’s Regulator (License No: SD080)?
It’s on their official website.
But like I said, this still doesn’t change the fact that you will say “This License is Useless” & all your one sided perspective.
1. That’s awesome… for anyone investing into TriumphFX from Seychelles. Literally nobody.
2. I don’t see any audited financial reports.
3. They registered with a shell company, fake website domain and fake address. (this is secondary to points one and two)
Worthless registration in shell company blackhole jurisdictions is worthless.
You don’t seem to understand how securities regulation works. You need to register in countries you solicit investment in.
As per Alexa, for TriumphFX that’s currently Malaysia, Hong Kong and Australia (top 3). TriumphFX hasn’t registered in these countries and continues to operate illegally.
MLM + securities fraud = scam. These are facts, not perspective.
You are right. There is no regulation in Malaysia, HK, & Australia. (Ozedit: snip, see below.)
Thank you for confirming TriumphFX is committing securities fraud and operating illegally.
There is no justification for securities fraud. MLM + securities fraud = scam.
No “admin’s side” or “perspectives”. Only facts.
Finally if you wish to discuss non-MLM companies, do it elsewhere.
By the way for your information Triumphfx is regulated by Firnancial regulatory body like Cysec and NOT MLM regulatory body… please do not get confused.
Triumphfx is NOT MLM company. Get your facts right first.
MLM refers to the pyramidal nature of the scam, not what it registered itself as.
That’s great for Cyprus, a dodgy jurisdiction TriumphFX doesn’t even operate in.
Securities regulation requires registration with financial regulators in jurisdictions you operate in.
For TriumphFX that would be Malaysia, Australia and Thailand among others. TriumphFX operates and continues to operate illegally in these countries.
MLM comp plan = MLM company.
Legit forex brokers more than 10 years old have IB commission plan…are u calling them as MLM companies too?
(Ozedit: derails removed)
I never said anything about an “IB commission plan”.
TriumphFX uses an MLM compensation plan.
MLM compensation plan = MLM company.
If you want to discuss forex brokers do it somewhere else.
IMHO, people who is getting involved never had experience been conned by Forex type of PAMM, investment, HYIP and Crypto Ponzi.
You will see your hard earned money lost in the next 8-10 months.
Do you believe in Yuri/Nicolay and other Russian name exists?
I wish all th investors best of luck.
I have close contact with the Master IB of the funds. He showed me photos of the time he met Yuri & his team in Singapore back in 2019. But I too received messages from haters telling me the traders are actors anyways….
There’s no point arguing on this issue. Any good points can be foreshadowed to bad ones considerably this article is purely biased.
There’s no good points when it comes to pyramid schemes, and nothing to be biased about.
Math guarantees the majority of participants lose money. TriumphFX doesn’t operate legally, that’s on them.
hope that the goverment can “invest” and use this triumphFX to solve hunger ..
their fund manager are so good, 20 times trade, only 1 lose. hahaha.. too good man..
if I am the trader at the fund manager such as Yuri or else, why do I need to use “other people” investment.
need to split margin with the investor. wouldn’t it be best, trade with own money, and get 100% profit for self.
so many of my friends keep asking me to invest in TriumphFX, i told them, if you guys are so sure of this thing.
why dont you sell your car/home and put it as investment at triumphfx. invest all you got. because it keeps winning.
but, yes, there are peoples that got rich from triumphFX..
well, same as gambling here…. dont know when the boss shut down the web.
To whom it may concern,
Triumphfx has been gaining traction in the Chinese community in Sydney, Australia as of lately.
Actually a few other schemes such as (removed). Has anyone else heard of this one?
It may already be too late and have been rooted in deeply.
It has been referred to many people and loved ones that I know.
Can someone please advise on how to deal with the situation?
New investment for the Ponzi meat-grinder.
If you’ve explained to people that TriumphFX is at the very least committing securities fraud and they participate anyway, not much you can do unfortunately.
Singaporean authorities aren’t going to do anything because TriumphFX is targeting investors outside the country.
Oz, u had claim it is a scam since Feb 2018. 4 years had passed since.
If u invested (Ozedit: snip, see below)
1. How long a scam runs for is irrelevant to it being a scam. Singapore has collapsed, now TriumphFX Malaysians are stealing from Taiwan.
2. I have no interest in investing in scams.
Interesting to know there’s a fund called jaguar robot and di Sheng . Mind to share the referral quote. Would like to study them .
A bit of background digging:
1. Vanuatu’s registry includes a company constitution (see vfsc.vu/vanuatu-international-companies/viewInstance/view.html?id=a5c1e83ff0a6678be468f768b72c2c5ad6ecf10f6570eef6f7363cc841fcd5cc9643957432b01f6d&_timestamp=24728367464124581 – ‘Model constitution’ link) which lists Shenton Management Consultants Pte Ltd as the incorporator.
(Interestingly, the constitution indicates that it isn’t necessary to list the directors names – great for hiding…)
2. Singapore’s registry (bizfile.gov.sg) lists Shenton as an actively registered company, with documentation including a director (Chua Chun Kay) and a secretary (Tan Kwang Siah). What we don’t know is if these people own Triumph or they merely registered it on behalf of someone.
3. Cyprus’ registry of the company (efiling.drcor.mcit.gov.cy/) lists four Cypriot directors and a Cypriot company as the secretary (the secretary company also has Cypriot directors). It lists a ‘certificate of shareholders’ but there doesn’t seem to be any way to view that document.
Summary: It’s hard to find any concrete information on Triumph’s ownership/leadership. Doing a comparative search for eToro (also registered in Cyprus), we find their CFO (Shalom BERKOVITZ) registered as a director – much more transparency there.
(Ozedit: derails removed)
FYI, Jaguar Robot Fund is under Floating Loss for months as they are using Martingale. Di Sheng is still profiting since 2017 until now. You may do your deeper research on the funds you’re interested. (Ozedit: more derails removed)
I have invested back in 2020 have not asked for refund yet. My one year of the lock-in period will be due soon in May and will let you know.
I invested in DS trader 12K AUD.3K in GMC PAMM which allows you to draw out anytime there is no lock-in period really. Hoping for the Best for everyone and understood the concerns.
Still doubtful about this, was refereed by a friend so did not bother
Any information related to this is very much appreciated. Unsure what people have drawn their conclusions really from?
I’m confused. You invested in a scam and claim to have understood the concerns.
But you also were recruited by a friend so “did not bother”, presumably with due-diligence?
Now you’re two years in and wondering about putting in a withdrawal.
If there’s money left to steal TriumphFX will let you withdraw. If not sorry for your loss.
There’s not much more to it than that.
Somebody saying is a scam and why they keep distribute profit sharing more than 7% every week ?
They aren’t distributing profit, they’re running a scam. Long as new recruits are found, there’s money to steal.
Logically, anyone capable of 7% a week isn’t sharing it with randoms over the internet.
Just invest what you’re willing to lose, if Triumph run the next day you’re happy with your loss then its fine. Dont put everything in a basket.
Or y’know, don’t be a garbage human being in participate in scams.
“Only invest what you can afford to lose” is the Ponzi equivalent of “the first hit is free”.
Thank you OZ, after a long read, im sure triumph fx is a MLM ,they is no service or product to show ,even a financial report.
but unfortunately half of my girlfriend family already invested in it, i don’t know how to explain too them this is scam.
And i had told them all i knew and explain to them, but they just don’t listen to me. so OZ do you have any website or sources can share me?
Sure – yourgirlfriendsfamilyarescammersandyouregoingtohavetolivewithit.com
If you’ve told and explained to your girlfriend’s family and they “don’t listen”, they’re scammers.
Neither myself or anyone else here can advise you on your individual personal circumstance.
the link you send me work 🙂 tx for your advice, good days.
Obviously you can’t prove TriumphFX with audited financial statements cause it’s forex investments (Ozedit: snip, see below)
Forex passive investment opportunities are not exempt from securities regulation.
So Oz, what would you recommend?
It seems that most of the “supporters” here are still “investing” in it as they see growth and they are able to withdraw out money (passive income).
I’d recommend not getting involved in MLM companies committing securities fraud.
Just to do some sharing, I had done some due diligent, and make the decision to try it out on 2021.
In fact, it generated consistence average of 7% per month and manage to do withdrawal from the profit. Is just that their support is really bad, slow reply on support ticket.
I just invested the money that i can afford to lose and importance is invest according to your own acceptable risk.
As investment always has a risk, either you win or lose.
At 7% a month you’re likely still in the red.
Math is math and the majority of participants in Ponzi schemes are guaranteed to lose. You might be fine with breaking the law but TriumphFX being a scam has nothing to do with your personal shortcomings.
Shill harder scammers.
i did saw some scammers are trying to use Triumphfx name to scam around. Recently, i found out is they are using Telegram channel and declare there are official triumphfx.
They are trying lure invertor into their new scheme with very attractive profit around 50% per month.
TriumphFX is the scam.
Shill harder scammers.
After my due diligent, I choose to believe TriumphFX is not a scam. In fact time will proof whether is it a scam or not.
Just want remind investors don’t fall into the Telegram Triumphfx Scheme as they are not official triumphfx is run by scammers.
Your due-diligence doesn’t seem to extend beyond “hur dur steal money”.
By all means provide evidence TriumphFX has registered with financial regulators. And do share with us filed audited financial reports, backdated to TriumphFX’s launch.
What kind of due diligence did you do? Audited Financial Statements?
Ability to withdraw profit is not due diligence. You can put USD100k with me and I will allow you to withdraw 7k. Does that make me legit?
I believe (Ozedit: snip, see below)
What you believe is irrelevant. Facts only or GTFO.
Thank you for confirming you have no evidence TriumphFX isn’t a scam.
Shill harder scammers.
I support what you do and keep up the good work. You’re intentions are to avoid people from being scammed. if they don’t listen to you, you have nothing to lose.
I find this triumphfx managed to make investors close 1 eye by offerering consistent and lucrative returns. So any facts won’t make them realise its a high risk to invest in anything not regulated.
For all investors, i wish you goodluck and control your emotions. Greed will blind you.
Personally I’ve been introduced to this TriumphFx scheme since May 2021, decided to try and input a small amount of $1000 USD and indeed have been seeing consistent profits for the past 15 months..
Even then this is extremely risky, top legitimate investment mutual funds, T.rowe, Fundsmith, Blackrock etc can’t give you 7%-8% a month (84% a year) consistently, yet TriumphFX’s “super-traders” are able to do it consistently.
I just feel that currently there are no outright definite proofs that it is a scam OR that is it not, personally I know of people who people who withdrew $10k – $20k every month from TriumphFX and greedy people like myself who are constantly topping up.
Imo… most ppl wouldn’t question the source as long as they get money and it isn’t outrightly obvious that it is criminal (drugs, prostitution etc), who knows TriumphFX are syndicates who does illegal activities with the funds deposited to so called generate these returns for investors, but no one knows lol, just collecting the “dividends”
How much you do or don’t steal through TriumphFX is irrelevant to being a scam.
“But people are stealing money!” isn’t due-diligence or a sign of legitimacy.
TriumphFX is run by serial scammers. You can verify it isn’t registered with financial regulators in your country.
That doesn’t legitimize fraud.
You literally posted it in the previous paragraph.
Even then this is extremely risky, top legitimate investment mutual funds, T.rowe, Fundsmith, Blackrock etc can’t give you 7%-8% a month (84% a year) consistently, yet TriumphFX’s “super-traders” are able to do it consistently.
You’re just playing stupid at this point.
Most people are stupid and unaware.
You are aware,and how you act determines whether you are complicit in crime or not.
Ignorance is not an excuse to justify scam.
As of 09 October 2022, triumphfx’s platform and app has went offline, their telegram chat with fund manager usual updates is also “late” on their trade updates. I guess that’s the end of the run for the scammers and greedy people.
Only the ones at the time made money from this fraud pyramid.
Thanks for the update.
Noted “profit payout” and account login errors dating back to October 1st.
If TriumphFX’s issues haven’t been resolved by Wednesday I’ll call the collapse.
Bit hesitant to do it just yet as website is still up.
Yeah so apparently TriumphFX’s withdrawal issues date back for weeks. I’m calling the collapse.
Will put out an update later today.
Approached by my friend who invested in Triumphfx. Tempted to invest in it but wasn’t sure if it’s legit. So did some digging and found this page.
So any update so far? Is Triumphfx collapse / run away yet?
They stopped paying out. I think there’s still some distributors in denial running around crowing about numbers on a screen.
The group is still up and running, there are still testimonials people receiving payouts
The payout seems to be from upline bank transfer
TriumphFX is going to implement blockchain technology, users will have to buy their tokens to gain access to “deposit” into their fund managers, aka 1 USD -> USDT(Crypto) to purchase -> 1 TriumphFX token to buy into their fund managers, when funds are attached to their fund managers, they will trade and redistribute profits back as their token.
The users can then sell their TriumphFX token to the platform for 1 USDT and users will cash out to their cryptowallet and sell off to get their fiat.
Sudden overhaul of a system after allegedly 5-6 years..
Well there are some in the group who mentioned they did to Singapore Banks etc like date stamps
Withdrawal Request – 10/11/2022
Withdrawal Approval – 13/11/2022
Cash Received – 14/11/2022
Even though there is alot of peer to peer transfer from upline downline whatever line to bypass bank charges.
Whatever is “paying out” is just to syphon other suckers in
Exactly.. No logic for upline to transfer to downline to mask withdrawal issue.
Are you a investor in TriumphFX as well? Apparently TriumphFx has been around for the past 13 years
TriumphFX hasn’t been around for 13 years.
Lololol. Forex Ponzi going crypto Ponzi. How predictable.
Lemme guess, scammers woke up one morning and found a crypto bot under their bed? Or are we going to have TriumphFX tHe MeTaVeRsE?
Apparently you are very gullible.
The site was for sale in 2011 so unless they were “around” without their website – no.
Sounds like somebody is trying to trap users with monopoly money. Look how well that went for FTX.
Bro I been jerking off to FTX news all week. Didn’t get much work done 🙁
What an image haha
FtX is trading on air and now TriumphFX want to join foray? Is the idea of declaring bankruptcy sound appealing to TriumphFX?
Dodgy NFT you couldn’t hold loses value you hoped to get your hands on….. and is now apparently being investigated by officials in the bahamas.
This one is going all the way. Wonder if SBF is looking for a seat next to Ruja Ignatova?
Everyday crypto exchanges are going bust. Now it’s Gemini/Genesis.
All the “infinite money glitch” yield Ponzis are imploding. So again, not getting any work done.
(j/k, I’ve got a few articles I’m working on that require me to watch long ass videos. And I got stuck on hold on the phone today for ~3 hrs (unrelated to BMLM). Good times.)
Now is exactly the right time Ruja needs to tell us about “Genuahiss” again
Heard from friend that their “maintenance” is delayed, supposed to be able to login by 7am today 5/12/2022, but til now still under “maintenance”…
The crypto conversion is just a farce, that’s one convenient way to end the scam.
So is the site ended? Or still up and running?
It’s a scam
The site is all up and running and there is still thousand over members in a active telegram group, sentiments are largely divided but it’s an obvious scam where everyone got played but is in denial.
Withdrawals every single US dollar is only worth 28 cents right now, so if you want to withdraw, sure go ahead at a massive loss.
The ones at the top already took the cream off the cake, leaving you with nonsense crypto coins and the “seniors” in the group still thought they can send proposals and ideas to the “management” to make things better, it is what it is. Apparently head of this scam is someone named Kelmen.
Most are just in denial stage now hoping they can still cash out what they put in, tough luck.