Orbex Forex Broker
Basic Information
Mauritius
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Is Orbex safe or scam
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Orbex Forex Broker - Comprehensive Information Guide
1. Broker Overview
Orbex, officially known as Orbex Global Limited, was established in 2010. The broker is headquartered in Limassol, Cyprus, with additional offices in various international locations, including the MENA region, notably in Kuwait and Jordan. Orbex operates as a private company, focusing primarily on retail forex and CFD trading.
Since its inception, Orbex has developed a strong reputation within the trading community, marked by its commitment to providing a comprehensive range of trading services and educational resources. The company has achieved significant milestones, including receiving multiple industry awards for its trading conditions and customer service.
As a part of its growth strategy, Orbex has expanded its operations by establishing a regulatory entity in Mauritius, which allows it to offer high leverage trading options. The brokers business model is primarily centered on retail forex trading, but it also provides institutional services to cater to a diverse clientele.
Orbex broker aims to empower its users with cutting-edge technology and educational tools, making it a suitable choice for both novice and experienced traders.
2. Regulation and Compliance Information
Orbex is regulated by several reputable authorities, ensuring a secure trading environment for its clients. The primary regulatory bodies overseeing Orbex include:
- Cyprus Securities and Exchange Commission (CySEC) - License number 124/10
- Mauritius Financial Services Commission (MFSC) - License number FS-4.1
- Seychelles Financial Services Authority (FSA) - License number SD110
These licenses allow Orbex to operate internationally, adhering to strict regulatory requirements that enhance investor protection and market integrity. The MFSC, while considered an offshore regulator, has implemented stricter regulations in recent years, requiring brokers to maintain higher capital reserves.
Orbex ensures client funds are held in segregated accounts, separate from the company's operational funds, providing an additional layer of security. Furthermore, Orbex is a member of the Investor Compensation Fund (ICF), which protects clients' funds up to €20,000 in the event of insolvency.
The broker complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity before trading.
3. Trading Products and Services
Orbex offers a diverse range of trading products, catering to various trading strategies and preferences. The broker provides access to over 300 trading instruments, including:
- Forex Pairs: More than 60 currency pairs, including major, minor, and exotic pairs.
- CFD Products: A wide selection of CFDs covering commodities, indices, and stocks.
- Cryptocurrencies: Limited options available, primarily focusing on major cryptocurrencies like Bitcoin and Ethereum.
The broker frequently updates its product offerings to keep pace with market demands, ensuring traders have access to the latest instruments. Orbex also provides retail trading services tailored to individual traders, while offering institutional services such as liquidity provision and white label solutions.
Special Products
Orbex has introduced innovative trading services, including PAMM accounts for those looking to manage investments on behalf of clients, and social trading features that allow traders to follow and copy the strategies of successful traders.
4. Trading Platforms and Technology
Orbex supports the widely acclaimed MetaTrader 4 (MT4) platform, available on desktop, mobile, and web versions. The MT4 platform is known for its user-friendly interface and extensive functionality, including:
- Automated Trading: Support for Expert Advisors (EAs) and algorithmic trading.
- Advanced Charting Tools: A range of technical indicators and customizable chart options.
- Market Depth: Access to real-time market data and analytics.
In addition to MT4, Orbex has recently introduced MetaTrader 5 (MT5), which provides additional features for advanced traders, such as more technical indicators and order types.
Orbex also offers a mobile trading app compatible with both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go. The broker utilizes a No Dealing Desk (NDD) execution model, ensuring fast and reliable order execution without requotes or slippage.
For professional traders, Orbex provides access to FIX API, enabling high-speed trading and direct connectivity to tier-1 liquidity providers.
5. Account Types and Trading Conditions
Orbex offers three main account types, each tailored to different trading needs:
- Starter Account: Requires a minimum deposit of $100, with variable spreads starting from 1.5 pips and no commissions. This account is ideal for beginner traders.
- Premium Account: Requires a minimum deposit of $500, offering lower spreads starting from 0.0 pips with a commission of $8 per lot. This account provides access to advanced trading features and educational resources.
- Ultimate Account: Requires a minimum deposit of $25,000, with the most competitive trading conditions, including spreads from 0.0 pips and a lower commission of $5 per lot. This account is designed for experienced traders seeking optimal trading conditions.
All account types offer leverage of up to 1:500, allowing traders to maximize their positions. The minimum trade size is 0.01 lots, and overnight fees are applicable based on the instruments traded.
6. Fund Management
Orbex provides a variety of deposit and withdrawal options, ensuring flexibility for its clients. Supported payment methods include:
- Bank Transfers
- Credit/Debit Cards: Visa and Mastercard
- E-wallets: Skrill, Neteller, Perfect Money, and others
The minimum deposit varies by account type, with the starter account requiring $100, the premium account $500, and the ultimate account $25,000. Deposits are processed quickly, typically within 2 hours, while bank transfers may take up to 5 business days.
Orbex does not charge internal fees for deposits and withdrawals, although third-party payment processors may impose their own fees. Withdrawals are generally processed within 24 hours, with the exception of bank transfers, which may take longer.
7. Customer Support and Educational Resources
Orbex is committed to providing exceptional customer support, available 24/5 through various channels, including:
- Email: support@orbex.com
- Live Chat: Instant assistance through the website.
- Phone Support: Multilingual support available.
The broker offers extensive educational resources, including:
- Webinars: Regular live sessions covering market analysis and trading strategies.
- Tutorials and E-books: Comprehensive materials for traders of all levels.
- Market Analysis: Daily updates and insights on market trends.
Additionally, Orbex provides various trading tools, such as calculators and an economic calendar, to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
Orbex primarily serves clients in the MENA region and has a significant presence in Africa. The broker's international reach includes various countries, but it does not accept clients from certain jurisdictions, including:
- United States
- Iran
- North Korea
- Mauritius
- Romania
This restriction is due to regulatory limitations and compliance with international laws. Traders from eligible countries can easily sign up for an account and access Orbex's trading services.
In conclusion, Orbex broker is a reputable and regulated entity that offers a comprehensive range of trading products and services. With a focus on customer support and educational resources, it caters to the diverse needs of traders at all experience levels. However, potential clients should carefully consider the regulatory landscape and the associated risks before engaging with the broker.
Orbex Similar Brokers
Latest Reviews
AAAA201253
United States
The spread of the platform is not bad, the transaction speed is relatively fast, and the commission has always been normal
Positive
2023-09-04
围剿恒信贵金属
Singapore
Orbex's website looks professional, beautiful and informative. Too bad I found out it's an unregulated company.
Positive
2023-02-23
FX2903987236
Belgium
Stay far away from this broker. It's a broker that spends excessively on attracting clients, but when you try to deposit funds, they deduct very high fees, and the same applies to withdrawals. I paid approximately $150 in fees and charges for depositing and withdrawing $2,000. The spreads and commissions are extremely high and completely contrary to the false claims made in their advertisements.
Exposure
2024-12-31