Orbex

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.