Global Business Outlook published and awarded Orbex as Best Forex Broker 2019 in its annual GBO Awards nomination that was celebrated for a significant achievements and effort to be recognized. Global Business Outlook is a renowned UK publication that covers market trends, global businesses and recognizes excellence in companies all over the world that deliver...
- What is Orbex?
- Orbex Pros and Cons
- Is Orbex safe or a scam?
- Market Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
What is Orbex?
The Forex Broker Orbex is an established Cyprus company with a successful history of operation, technological background and a full range of trading services for multi-asset trading, education and constant development.
In addition, Orbex serving representative office in the MENA regions, in Kuwait and Jordan, making its offering even beyond with an expansion to trading services. Also, Orbex expands its horizons with an international proposal as the broker opened entity in Mauritius with access to high leverage, also received a local financial license from MFSC.
Orbex Pros and Cons
Orbex is Regulated Broker for CFDs trading with Great trading tools and education free of charge, Social trading options, MT4 platform, Fast account opening and free Demo account and No commission deposits and withdrawal options.
For Cons, Support not available 24/7 and instruments limited to Only CFD products.
10 Point Summary
|📉 Instruments||CFDs on Commodities, Forex, Metals, Cash Indices and Energies|
|🎮 Demo Account||Available|
|💳 Minimum deposit||200$|
|💰 EUR/USD Spread||0.8 pips|
|💰 Base currencies||USD, EUR|
|📚 Education||Free education with webinars, Orbex TV and videos|
|☎ Customer Support||24/5|
Orbex already quite known and operates for a while also participates to various exhibitions and received numerous international awards along with the big number of active traders. That all in all confirm its status and reputable position in the industry, which we will also see in detail further within our Orbex Review.
Is Orbex safe or a scam
No, Orbex is not a scam due to its regulation and legal status obtained by CySEC regulation. It is considered low-risk Forex trading with Orbex or with tier-1 CySEC regulated broker.
Is Orbex legit?
The Orbex is a fully licensed and regulated Cyprus Investment Firm supervised by the CySEC and is also authorized to trade internationally across Europe and further. The above mentioned regulation is a transposition of MiFID European Law which operates under ESMA that contributes to safeguarding the stability of the European Union’s financial system and enhancing the protection of investors and financial market stability.
Additional entity Orbex maintained is located in beautiful Mauritius, which is not a reputable financial jurisdiction, but an offshore zone. In case the broker is located only in the offshore area, we do not recommend trading with them, as a lack of regulations involving risk to be scammed. Nevertheless, due to the European license of Orbex it is considered a safe trading environment.
All clients’ funds are held in segregated accounts while separated from the company’s funds. Furthermore, Orbex is a member of the Investment Compensation Funds, which secures any claims covered clients against members of the Fund with up to 20.000 EUR.
Leverage levels or a possibility of the broker to offer you q loan that may increase your trading size and potentially magnify your profits is always defined by the regulatory restrictions in each jurisdiction.
- Trading with European Orbex entity you will automatically fall under ESMA regulations, which recently allows lower levels of leverage up to 1:30 for major currencies and 1:10 for commodities.
- Trade with Orbex Global, there is an option to access high leverage levels up to 1:500 for Forex instruments.
Professionals from any jurisdiction yet may access high leverage once the status is confirmed. But always make sure to learn how to use leverage smartly, as this tool may work in reverse too and increase risks dramatically big.
Orbex offering four account types either with all costs built into a spread either fixed or variable, and another two are raw spread accounts from 0 pips with trading fees built into a commission charge where a commission is only 5$ for Ultimate account. Yet, again be sure to verify account conditions with customer support as regulation in particular jurisdictions apply.
Additionally, Orbex has a specific account for copy trading through automated copy-trading system FXStat Tradebook which is a sort of social trading so popular nowadays, allowing simple investment just by following of professional strategy with Commission of 10$ only.
Also, here is a possibility for Islamic traders to join Orbex team through SWAP-free account feature upon the request allowing to trade with no rollover fees.
Orbex offers both fixed or variable spreads from 0 pips and 0.8 pips for Standard accounts. Additional fee see in fee table below.
|Fees||Orbex Fees||AvaTrade Fees||eToro Fees|
Orbex spreads are obviously defined by the account type you use, while fixed spread (see the best fixed spread brokers) in Classic account is slightly higher and starting from 1.9pips, yet offers stability under any conditions and good for beginners. The Standard Account spreads are starting from 1.5 pips and operated through floating or variable spread nature allowing you to perform scalping or other strategies.
Another higher grade account offers even lower spreads from o pips respectively, which is a raw interbank spread where all trading costs are built into a commission charge. As long as the trading size and account increase you will be able to access a discounted commission of 5$ only.
|Asset/ Pair||Orbex Spread||AvaTrade Spread||eToro Spread|
|EUR USD Spread||0.8 pips||1.3 pips||3 pips|
|Crude Oil WTI||4 pips||3 pips||5 pips|
For general understanding refer to the table and spread on popular instruments. For rollover or overnight fee considered as a trading cost, for example also see snap below. As well you may compare fees to another popular broker BDSwiss.
Trading fees snapshot
Orbex specializing in CFD online trading on currencies, commodities, futures and Cash indices (OTC) that are provided with deep liquidity from Tier-1 banks through reliable and fast execution. Also, you can trade energies and precious metals with NDD connectivity.
Deposit and Withdrawal Methods
Another crucial factor while selecting a Forex broker is to see how to transfer money to or from your trading account. Obviously, regulated brokers adhere to best practices and are regulated by its authority in terms of money management.
Orbex offering one of the fastest transaction processing through the variety of payment methods including
- Credit/ Debit cards,
- Wire Transfer
What is minimum deposit for Orbex account?
The minimum of Orbex account is 500$ allows to participate to trading with a Standard account feature with CySEC regulation and entity, , it does depend on the account type you are planning to trade with, also according to the entity conditions since there are different deposit requirements. International traders can open an account with a lower deposit minimum of 200$.
Orbex minimum deposit vs other brokers
|Orbex||Most Other Brokers|
Orbex does not charge any transaction fees either for deposits or withdrawals, where all account manipulations can be done through your online account management area and withdrawal options including Bank wire and Cards.
How to withdraw money from Orbex?
The withdrawals are processed via trading account form submit, and since there are no typical fees for transfers from Orbex, make sure with your payment provider in case there are any internal fees charged on you.
The MT4 is indeed very known and most used software in the industry because of its advanced chart feature, multilingual support, security and reliability along with the support of various trading styles. That is why Orbex mainstays on this technology and software.
|Mainstay MT4||No alternative trading platform|
|User friendly design|
|Price alerts and push notifications|
|Supporting various languages|
|Web, Mobile and Desktop versions|
|No restriction on EAs|
|Free VPS and Trading Central|
An award-winning and user-friendly Orbex platform is built on MT4 software and provides Desktop, Multi-Terminal, Mobile, Web and iOS versions. Web Platform will be a good choice for regular size traders, as it is easy to access from any device, yet is limited with research tools, customization and comprehensive drawing tools.
So if you adhere to professional trading, of course desktop platform is your choice. Here you will find all that MT4 is famous and good for, great charts, various order types, advanced analytic tools and available robots that can perform auto trading.
Also, Orbex Strategies as an algorithmic trading system bringing vast of powerful robotic systems and does not require any programming skills to build EAs. Together with that, you may submit for Free VPS service that offers to host advantage to run EA 24/5 on increased execution speeds.
Mobile app suitable for Android or iOS devices offered in the package as well. So you are able to stay updated about market conditions, manage you account and positions right from your mobile device.
Moreover, Orbex went even more and added to the Platform add-ins that bringing convenient trading opportunities through Trading Central and Orbex Trade Lab a sharing system that allows following trading ideas or posts own among the joined community in Orbex. The platform is available for Demo and Live account holders and combines copying capabilities within online trading.
And last but not the least is a FXStat TradeBook platform is a social trading capability that provides trading signals and the automatic copy of the trades from hundreds of professional traders, which is directly integrated into Orbex platform.
And of course, Orbex team strives to support their customers in their success as a trader, hence providing around-the-clock customer service during working days. Orbex service available via emails, live chat, international phone lines and ready to answer in various languages through its service centres.
Recent forex news, combined with detailed analytical articles and reviews along with education for different level traders are key to success that’s the fact. So at Orbex you cover it all, also can benefit from quality technical and fundamental analysis along with in-house designed Orbex Web TV that covers most recent updates and topics.
Analysis support and information that allowing a trader to focus on their goals provided on a free basis as a part of research materials. Where also Economic Calendars, Calculators and Weekly reports included.
The Orbex Review concludes a reliable company with strong positions among the EU and MENA region online trading offerings, also with international coverage. From the positive point is the range of account types, very comprehensive platform features and numerous free tools allowing a better trading environment. In addition, there is a choice between the flexible or floating spreads, OTC or ECN connection, as well as the strategies to choose from. The beginning traders can benefit from free educational tools, while the professionals are supported by dedicated tailored services.
November 11, 2019 at 10:16 AM Read more
International financial services provider Orbex has been awarded “Best Forex Broker 2020” by the prestigious Global Banking & Finance Review Magazine, taking home the trophy for both the European and MENA regions. The award comes as part of the magazine’s ongoing mission to recognize the industry’s finest and provide participants of the financial sector with...July 07, 2020 at 11:51 PM Read more