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...
- Is Orbex safe or a scam?
- Trading Platform
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
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 with constant. 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.
Orbex specializing in CFD online trading on currencies, commodities, futures and indices (OTC) that are provided with deep liquidity from Tier-1 banks through reliable and fast execution. What is more great traders of different strategy will find their good way, as Orbex offers both fixed or variable spreads from 0.8 pips.
And of course, Orbex team strives to support their customers in their success as a trader, hence providing around-the-clock service, analysis support and information that allowing a trader to focus on their goals. 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.
Is Orbex safe or a scam?
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.
Therefore and due to its regulation, Orbex is a reliable provider of online trading that applies all EU regulations and laws in an officially regulated 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.
An award-winning and user-friendly Orbex platform is built on MT4 software and provides Desktop, Multi-Terminal, Mobile, Web and iOS versions. 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.
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.
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.
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.
There are four trading accounts offered by Orbex to suit each trader needs and style while there is a choice between a variable or fixed spread with no commission charges. Additionally, Orbex offers 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 of Islamic traders joining the Orbex team through SWAP-free account feature upon the request allowing to trade with no rollover fees.
Orbex spreads are obviously defined by the account type you use, while fixed spread in Classic account is slightly higher and starting from 1.9pips, yet offers stability under any conditions. The Standard Account spreads are starting from 1.5 pips and operated through floating or variable spread nature allowing you to perform scalping or another strategy.
Another higher grade account offering even lower spreads from 1.2 or even from 0.8 pips respectively, but for general understanding refer to the table below and spread on popular instruments.
For rollover or overnight fee considered as a trading cost, example also see snap below. As well you may compare fees to another popular broker Amana Capital.
|Asset/ Pair||Orbex Fixed Spread|
|Crude Oil WTI||4|
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. Therefore, 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.
However, in case you trade with Orbex Global, there is an option to access high leverage levels up to 1:500 for Forex instruments. But always make sure to learn how to use leverage smartly, as this tool may work in reverse too and increase risks dramatically big.
Deposit and Withdrawal Methods
Orbex offering one of the fastest transaction processing through the variety of payment methods including Neteller, Credit/ Debit cards, Skrill, WebMoney, fasapay and Wire Transfer.
As for the minimum deposit amount, it does depend on the account type you are planning to trade with, since there are different deposit requirements. Yet, the minimum of 500$ allows you to participate to trading with a Standard account feature.
What is more great Orbex does not charge any transaction fees either for deposits or withdrawals. 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 Orbex Review concludes a reliable company with strong positions among the EU and MENA region online trading offerings.
The regulation of the company brings a quiet state of mind and security to the traders, while 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. Overall, the Orbex Broker brings a quality offering to the market its customers and affiliates.
And of course, please let us know your opinion about Orbex, share your experience with or ask us for some additional information in the comment area below.