Orbex

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    Key information about Orbex ltd

    Forex broker Orbex is an international investment company based in Limassol, Cyprus. The Cyprus Investment Company was founded in 2011. The company positions itself as a reputable and reliable forex broker focusing on the international market. In 2020, the broker was awarded by the Global Banking & Finance Review as the Best FX Broker Europe and Best FX Broker MENA.
    The list of trading instruments offered by broker Orbex ltd to its clients includes currency pairs, precious metals, commodities, stocks, and indices. The broker gives the opportunity to trade on ECN accounts.
    On the official website orbex com, information for customers is available in 2 languages, English and Arabic. But the Forex broker still focuses on the full credibility of only the English version of the site. Previously, the translation of the site was available in 13 languages, but the company has reduced the language versions to just two. When switching from English to any other language, some of the text on the pages of the official site remains in English – there is no correct translation of them.
    But is the broker as good as it seems at first, or is Orbex a scam? Let’s look at the conditions that the company offers its customers and conclude how beneficial it is to work with Orbex com. This Orbex review will help you make the right decision for your investment.

    Regulation and jurisdiction

    CySEC

    Official site

    orbex.com

    Pros
    • Flexibility in account selection
    • mobile trading
    Cons
    • Technical problems
    • questionable regulation
    Trading platform

    MT4

    Accounts

    Starter, Advanced

    Account currency

    USD, EUR

    Deposit/withdrawal

    Skrill, Credit cards

    Minimum deposit

    200 USD

    Leverage

    until 1:30

    Min order

    0.01 lot

    Financial instruments

    Forex, stocks, indices

    Margin Call/Stop out

    50%/30%

    Liquidity Provider

    Not specified

    Trading Features

    No scalping for fix. spreads

    Who is the broker regulated by and does it have compensation?

    The broker operates under two official organizations – Orbex Ltd and Orbex Global Limited. The main organization that regulates the activities of Orbex Limited is the Cyprus Securities and Exchange Commission (CySEC). The license number is 124/10. The company is subject to the rules and laws of the EU issued by the European Securities and Markets Authority (ESMA). Orbex Global Limited, on the other hand, is regulated by the Financial Services Commission of Mauritius (FSC). In addition to the two regulators, the broker is further regulated by the FCA (553071).

    Each Orbex Ltd client is entitled to compensation of up to €20,000, regardless of the number of accounts and their currency, from the Investor Compensation Fund, of which the broker is a member. The money is paid if the broker is unable to return it to the client on his own due to a deteriorating financial situation. The funds of institutional and professional depositors, such as government and international organizations, various levels of government, and Orbex shareholders, are not eligible for reimbursement.

    Account types and their minimal differences

    The company offers 3 different types of accounts. These are Starter, Premium, and Ultimate accounts. The accounts themselves are not very different from each other. Let’s take a closer look at each type.

    Starter. With an Orbex minimum deposit of $100, variable spreads(average spread on EURUSD is 1.5 pips), leverage up to 1:500, allowed scalping, and free VPS. No commission.

    Premium. With a minimum deposit of $500, variable spreads from 0 pips, leverage up to 1:500, allowed scalping, and free VPS(minimum Orbex trading volume required). The broker’s commission is $8 per trade.

    Ultimate. With an Orbex minimum deposit of $25,000, variable spreads from 0 pips, leverage up to 1:500, allowed scalping, and free VPS. The broker’s commission is $5 per trade.

    The amount of leverage in each tariff is limited taking into account the active trading volume of the broker. You can read more about each of the tariffs on the broker’s website.

    Standard registration, verification and trading platforms

    The account is opened by the same principle as at other brokers: you fill in the registration form, you need to confirm your identity, and only after the verification you get a personal account, where you can deposit money. You can try Orbex trading on a demo account first. Orbex Demo Account allows you not only to get acquainted with the features of the trading platform, but also to learn how to trade on the charts and quotes in real-time, without investment. When you create a profile, you will need to fill out the following personal information:

    • date of birth;
    • place of residence;
    • citizenship;
    • postal address;
    • trading preferences;
    • trading experience;
    • information about the main place of work and income;
    • upload copies of documents proving identity, place of residence, and availability of a plastic card.

    It is possible to open an account for one trader, it is also possible to share one account with several clients of the broker and use corporate accounts for companies. There are also Swap-Free Accounts on the site.

    Orbex ltd offers its clients to trade on the multi-language trading platform MetaTrader 4, which processes client requests for no more than an hour, allows ECN trading and provides easy and quick withdrawal of funds. The Orbex MT4 platform is available for use on your computer and smartphone. On the broker’s website, you can check orbex mt4 download and all the necessary software, as well as use the WebTrader version, which does not require any software installation, and provides access to the Orbex trading space directly through the browser.

    Deposits and withdrawals of funds from the brokerage site

    Deposits and withdrawals are made by several methods. There is no fee for any of the methods. Traders can choose one of the following methods:

    • bank payment cards (Visa, MasterCard);
    • electronic payment systems (Skrill, Neteller, Perfect Money, UnionPay, etc.);
    • Wire transfers;
    • Crypto transfers – USDT.

    You can withdraw profits or account balances in similar ways. No commission is charged for any kind of transaction. The processing time can vary from a couple of minutes to a day.

    Investment products, lack of real shares

    Orbex ltd offers access to several markets, which is quite common for such projects. Traders can trade on Forex, commodities, and Orbex stock market. The brokerage company offers its clients the opportunity to trade on the various markets:

    • CFD FX – the company offers clients the ability to trade forex pairs via CFDs, or Contracts for Difference;
    • Cryptocurrency CFDs – the Orbex broker is charging you 0.5% for each 1 lot you are trading;
    • Commodities – precious metals(XAUUSD, XAGUSD), energies(USOILQ2, NGQ2, UKOILU2);
    • International stock CFDs – the charge is 0.2% for each 1 lot you are trading, applicable only on UK and EU stocks; UK, US, EU shares – AirBNB, Amazon, Shell, Tesco, Adidas, Loreal;
    • CFD Indices – US30, UK 100, SPX500, DE30 (Germany 30 Index Futures).

    You cannot buy real gold, palladium or oil through Orbex ltd. Only contracts for price differences are available.

    Training and useful materials

    For beginners and experienced traders, Orbex holds webinars in different languages and offers free e-books for registered users, as well as video courses and tutorials on the MT4 trading platform in English. Training programs take place in several formats: webinars, e-books, video courses, manuals, trader’s glossary (definitions of important concepts), and advice (informative articles). Support is provided by phone (by direct call to one of the numbers or through a callback order form), e-mail (each department of the company has its own e-mail), online chat (consultant on the site and Telegram chat-bot), and communities in social networks.

    Various analytical materials are available: technical analysis, fundamental analysis (selection of materials), economic calendar (daily summaries), calculators (pips, margin, risk), currency converter, and weekly medium-term forecasts for all instruments, including forex.

    Orbex Gold Rush

    To celebrate its eleventh anniversary, the company has launched a year-long contest divided into four stages. To participate, you need to make 20 trades before the end date of each round, and you will receive a Golden Ticket, which will make you a participant in the lottery. The fourth stage of the competition is currently in progress and will run until September 31, 2022. Users compete for the remaining 1 kg of gold, in each quarter will be announced six winners of Orbex gold.

    Disadvantages of the site and Orbex reviews

    During its 11 years of existence, the Cyprus-based company has acquired not only the awards they brag about on all the pages of their website, but also a lot of negative reviews. The truth about the existence of the latter, the Orbex broker prefers to keep quiet. Below is a list of the most common problems customers have encountered:

    • regular technical failures of the platform with further financial losses for traders (and such requests are not even considered by technical support);
    • cancellation of customer accounts without any explanation or compensation;
    • long withdrawal times: instead of the promised few hours, users wait for days, weeks, and sometimes months;
    • false Orbex trading conditions. Clients note that they never saw the promised spread – the usual indicator was 3-4 points.

    Expert opinion

    Eugene Rudenko

    There are no benefits for premium account holders. It seems that the company is counting on small traders, who are not so dangerous to deceive. This may have disastrous consequences for your capital.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Summary of the Orbex review

    The huge number of negative reviews from Orbex about this broker, combined with the technical “backwardness” of the platform, the lack of MetaTrader5, as well as the indifference of employees towards clients, cast doubt on the reliability and honesty of the broker like nothing else. . The platform states that the maximum leverage is 1:500. And what is the minimum leverage? This is not mentioned. The commission system is no less interesting. For example, if you decide to take the risk and fund your account with $25,000, you will still have to pay $5 for each transaction. However, in general, the reviews are very positive. Despite the shortcomings.

    Orbex review

    Broker Orbex review

    Should you cooperate with this broker or not? The choice is yours.

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    FAQ

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    Does the opinion of a broker's clients affect its reputation?

    The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about Orbex are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.

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    How to write a review about cooperation with Orbex on the website?

    To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.

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