Question 1:
No, not all Fund Management investment is scam. Tho, there are plenty of scams that used the name of "Forex Fund Management" & blow up in 2-3 years at max. If you drink one coffee that brings you food poisoning, doesn't mean all coffees will give you food poisoning.
Besides TriumphFx, you can try other brokers such as HotForex/AvaTrade that provides copy-trading MAM account Management.
Question 2:
Every investment has its risk. If you prefer to trade by yourself (whether its stock/crypto/forex), you can control your own risk
If you prefer to let someone else trade, see their portfolio, trading history, risk management etc.
Be sure to diversify your investments. Don't dump everything in even if the results are great. (Don't listen to all those haters asking people to get bank loan, dump everything in & be billionaire next few years). It's completely nonsense.
Question 3:
You're talking about Pros & Cons of TriumphFx or Pros & Cons of investing in Forex Fund Management in general?
As far as I know, Forex returns are definitely higher than stocks/bonds/ETFs/Mutual Funds/Unit Trust etc due to high leverage & high volatility.
Besides TFXI, I personally invest in a Forex Fund Manager whom I met before personally. They are FX traders of Singapore Banks & does trading in AvaTrade Broker as well. Returns are about 8-12% net a month. Been getting such profits for 2 years. Nothing new & nothing big about that. Those that truly knows Forex will know 8-10% is decent & 7% from TFXI is nothing special.
Only haters will bring the keywords of Warren Buffet, God-Like Traders, Too Good to be True excuses to defame TFXI.