Some of my insights regarding Triumph FX, not financial advice, I am a total noob in Forex. Trust or not, invest or not, it is up to you. I am just sharing. Sharing is caring
The instructions given is to use a payment gateway called Help2Pay. To me, this gateway is not secure as they ask you to key in your “username” and “password” of your bank account on the website itself. It won’t redirect you to the proper online banking like how other local payment gateway behaves. If you are careful, you know you shouldn’t expose both “username” and “password” onto a third-party website. This is like rule no.1 of bank transfer.
This is their website:
https://www.help2pay.com/Nothing much for contact, except a P.O. Box address and an inquiry form? Famous in S.E.A., but registered in British Virgin Island. Can’t even search anything on BVI official website about this company (more on this later for TriumphFX).
https://www.bvifsc.vg/They even have YouTube uploads, but comments are disabled. Try look for them.
Interestingly, the payment gateway has raised someone’s concern in LYN before:
https://forum.lowyat.net/topic/4740205/allNow, look at the images attached. The domain name is “racethewind.net”.
Tried the gateway last time, the domain name is “safepaymentapp.com” (something like that). And when I try recently, it became “processcheckoutapp.com”.
Gosh, lol.
Of course, I won’t be expecting FPX, because this company is already under SC alert list, naturally I don’t think FPX (which belongs to PayNet, subsidiary of Bank Negara) can be integrated into this.
Even wire transfer does not work. Options left are AliPay (properly integrated), Crypto wallet transfer (USDT), and MasterCard (I know someone tried this and it worked, but since it is a bank card, rates are not good). Eager to earn money, one would resort to Help2Pay, right? Not everyone, but some of them will.
Now, we move on to the license:
Triumph Int. Limited is a company registered in 2283 Columbus Centre, Road Town, Tortola, British Virgin Islands.
Triumph Int. Limited is a company registered in S.I.P. Building, P.O. Box 3010, Rue Pasteur, Port Vila, Vanuatu.
Triumph Int. Limited is regulated by Vanuatu Financial Service Commission (License number: 17901).
Since it is registered in Vanuatu, let’s check out their registration:
https://www.vfsc.vu/It is actually struck-off from their registration. Company de-registration date is quite recent at 21st May 2021. Surprisingly, the company who registered this company is Shenton Management Consultants Pte Ltd. located in Singapore. So close to home, eh? How I know? Just download the PDF attachment and scroll to the bottom.
This company has a former name called “AMB Asset Management Pte. Ltd.”, if we refer to this website:
https://sgpgrid.com/company-details/shenton...pte-ltd#general (Not sure how reliable is this site though, do your own due diligence)
TriumphFX is also registered in British Virgin Islands as well, right? Well, surprisingly, you can’t find their name in BVI’s registration:
https://www.bvifsc.vg/Ok, wait, we kept on heard TriumphFX is registered in Cyprus, but how come it is not listed at the bottom of the page? Hmm. Oh, it only appears on their other website:
https://www.triumphfx.com/Ok, let’s go and check in Cyprus registered companies. Ok, this time we really found it:
https://www.cysec.gov.cy/en-GB/entities/inv.../cypriot/77453/License date is actually 2016.
Now, the previous company is actually G.S.E Golden Sky Europe Ltd. Google that name, and found this:
https://scambroker.com/binarycm/ Not sure how reliable is this site though, but do expand the comments section below. Take it with a pinch of salt since this is not a govt website. Do your own due diligence.
Now, let me take you to China. Look at this website:
https://www.dehuifx.com/enFamiliar?
Please note that all the sites I am going to listed are just “info” from the Internet. Do your own due diligence on whether to believe or not. Note: You need to be able to read Chinese.
https://inf.news/en/economy/2a394b171f43d0c...9c1265a8d4.htmlhttps://www.fx220.com/zimeiti/whbg/51809.htmlhttps://zhuanlan.zhihu.com/p/231280747Again, I am neither trying to encourage you nor discourage you from joining anything. But I am just sharing what I can find. We are all responsible for our own trading. My rule of thumb is always only invest (or gamble, depends how you see it) in what I can afford to lose.
But for what’s worth, that local bank transfer method is not my preferred way. Some people will actually change their password every time they transfer, and don’t use your main account:
https://forum.lowyat.net/index.php?showtopi...post&p=97471406Although there are 2-factor authentication (2FA) these days, meaning your phone will get OTP before a transfer, but giving out “username” and “password” and do not plan to change it after that will only kill off the first-level authentication, leaving only OTP to protect you. With proper social engineering, like those WhatsApp message to tell you that “I have key in the wrong phone to receive OTP” and you forwarded to them accordingly, it is possible for them to transfer away your money immediately, or creating a favourite recipient and transfer later. Again, I am not saying this will certainly happen, but exposing your security details to a third-party site will increase the chance.
Some say that this may be an insider job, I beg to differ. If I have 2 textbox on the screen and you provided me with the “username” and “password”, naturally, I can login for you. I don’t know how the “API” runs in the background, but having the thought of the third-party capturing your “username” and “password” and process it is enough to turn me down.
Lastly, for all investment, do your own due diligence. Good luck.
And attach image from Hong Kong securities commission search:
https://www.sfc.hk/en/alert-list/1430Regarding the funding account part, I personally has FXTM account, and the funding method using local online banking is pretty much the same with the one you illustrated above. They use PayTrust88, and same thing it didn't redirect to the banking side but require me to enter baking username and password. For security reasons, I always change my online banking password after transferred the money into my FXTM account.
Furthermore , one thing quite funny was the transaction appear at my baking statement will show funny company name.