Orbex
Pros and Cons
Pros
- Regulated by CySEC and FSC
- Over 300 forex pairs and diverse asset classes
- Trading platforms: MetaTrader 4 and 5
- Comprehensive educational resources and trader support
- 24/5 multilingual customer service
Cons
- No access for U.S. and Canadian clients
- Limited payment options compared to competitors
- No social or copy trading features available
- High minimum deposit for Premium and Ultimate accounts
- Inconsistent customer support reported by users
Basic Information
User Reviews
Orbex Overview
Orbex is a well-established forex broker, founded in 2011 and based in Cyprus. With over a decade of experience in the financial services industry, Orbex has built a reputation for providing competitive trading conditions underpinned by regulatory oversight. The broker is committed to offering a secure and transparent trading environment, ensuring that clients can trade with confidence. Orbex has been licensed and regulated since its inception, which enhances its credibility in the forex market.
As a leading global investment firm, Orbex offers a diverse range of trading instruments, including over 300 forex pairs, indices, stocks, and commodities. The broker provides access to advanced trading platforms like MetaTrader 4 and 5, equipped with essential tools and features for traders of all levels. Customer support is available 24/5, ensuring that clients receive assistance in multiple languages through various channels. Orbex distinguishes itself by offering unique advantages such as fast execution speeds, competitive trading conditions, and a strong emphasis on trader education, positioning itself as a trusted partner in the trading journey.
Is Orbex Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Services Commission (FSC) | Mauritius | Segregated Funds, Investor Compensation Fund |
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Negative Balance Protection |
Is Orbex Regulated and How Are Client Funds Protected?
Orbex is a well-regulated forex broker, holding licenses from both the Financial Services Commission of Mauritius and the Cyprus Securities and Exchange Commission. This multi-regulatory status enhances its credibility and assures clients of a safe trading environment. Client funds are protected through stringent measures, including the segregation of client accounts from company funds and participation in an investor compensation fund, which provides an additional layer of security. Furthermore, Orbex implements negative balance protection, ensuring that traders cannot lose more than their initial investment. This commitment to regulatory compliance and client fund safety positions Orbex as a legitimate choice for traders seeking a secure trading experience.
Trading Products and Services
What trading instruments does Orbex offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs, Minor Pairs, Exotic Pairs | 300+ |
| Commodities | Gold, Silver, Crude Oil | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | US Stocks, UK Stocks | Many |
| Cryptocurrencies | BTC, ETH | Many |
Orbex offers a diverse range of trading instruments that cater to various trading preferences and strategies. With over 300 forex pairs and additional offerings in commodities, indices, stocks, and cryptocurrencies, traders can explore multiple markets efficiently. This variety not only supports beginners looking to learn but also experienced traders seeking to diversify their portfolios and utilize flexible trading strategies. The breadth of available products enables users to adapt their trading approaches based on market conditions, enhancing their ability to manage risk and capitalize on opportunities.
Account Types and Trading Conditions
What Account Types and Fees Does Orbex Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Starter Account | Beginners | Access to hundreds of tradable instruments with $0 commissions | Minimum investment of $100, suitable for small-capital practice |
| Premium Account | Experienced Traders | Raw spreads from 0.0 pips, provides additional educational resources | Minimum investment of $500, ideal for traders looking to enhance their skills |
| Ultimate Account | Aspiring Professionals | Raw spreads from 0.0 pips with lower commissions and exclusive training | Minimum investment of $25,000, designed for serious traders seeking advanced tools |
| Demo Account | New Traders | Practice trading with virtual funds | Available for anyone to test trading strategies without financial risk |
Account Opening Process
To open an account with Orbex, follow these simple steps: First, provide personal, employment, and financial information as part of the registration process. Next, complete identity verification by submitting necessary documents, including a valid ID and proof of address. The account setup is straightforward, allowing flexibility to upgrade to a professional account later if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Variable | $0 (Starter), $8 (Premium), $5 (Ultimate) | Competitive spreads for various trading styles |
| CFDs (Stocks, Indices, Commodities) | Variable | $0 (Starter), $8 (Premium), $5 (Ultimate) | Access to a wide range of instruments |
| Cryptocurrencies | Variable | 0.1% | Dependent on market conditions |
Other Fees
Orbex may charge various fees related to trading activities, including deposit and withdrawal fees, which can vary depending on the payment method. Inactivity fees may apply if an account remains dormant for an extended period. There may also be platform usage fees, overnight interest (swap rates), and currency conversion fees applicable based on trading preferences and activities.
Trading Platforms and Apps
What Trading Platforms and Apps Does Orbex Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, encryption, multiple order types, price alerts, technical indicators | Demo accounts, VPS services |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, encryption, market depth, economic calendar, advanced charting tools | Demo accounts, VPS services |
| Web Version | Any device with internet access | Secure login, symbol lookup, real-time alerts | Demo accounts |
Orbex provides a selection of trading platforms designed to accommodate various trading preferences. The MetaTrader 4 and 5 platforms are renowned for their user-friendly interfaces and robust features, making them suitable for both novice and experienced traders. The mobile applications allow for trading on the go, ensuring that traders can manage their accounts anytime, while the web version offers accessibility from any internet-enabled device.
Each platform emphasizes security with features like two-factor authentication and data encryption, thereby safeguarding user information. Fast order execution, real-time alerts, and comprehensive market search tools enhance the trading experience across all platforms, enabling traders to operate efficiently and effectively.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Credit/Debit Cards | Instant | No platform fee | Min $100, Max $10,000/day | USD, EUR |
| Bank Transfer | 1–3 business days | No platform fee | Min $100, Max $50,000 | USD, EUR |
| e-Wallets (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min $50, Max $20,000/day | USD, EUR |
| Cryptocurrency | Instant | No platform fee | Min $100, Max $10,000 | BTC, ETH |
Minimum Deposit
Orbex requires a minimum deposit of $100 to open a trading account. This minimum amount applies uniformly across all account types, regardless of the payment method used.
How to Withdraw
- Log in to your Orbex account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method for withdrawal.
- Enter the amount you wish to withdraw and confirm the transaction.
- Complete any necessary verification steps as required.
- Submit your withdrawal request and await processing.
Customer Support
Orbex Customer Support Overview
Support Channels
Orbex provides multiple contact methods to assist customers effectively. You can reach their support team via:
- Email: Clients can send inquiries to support@orbex.com for general assistance.
- Live Chat: Immediate help is available through the live chat feature on their website.
- Telephone: Customers can contact Orbex at +442035198140 for direct assistance.
- Social Media: Orbex maintains a presence on various social media platforms for additional support and updates.
Service Availability
Orbex offers customer support 24 hours a day, Monday through Friday. The support team is multilingual, catering to clients in various languages to enhance communication and service efficiency.
Additional Resources
In addition to direct support, Orbex provides valuable educational resources such as video tutorials and market analysis to help traders improve their skills and understand the market better.
Frequently Asked Questions
Orbex is regulated by both the Financial Services Commission (FSC) in Mauritius and the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies enforce strict compliance measures, including the segregation of client funds from company funds and participation in an investor compensation fund, which adds an extra layer of protection for clients’ funds.
Orbex offers a diverse range of trading instruments that includes over 300 forex pairs, commodities like gold and crude oil, various indices such as the S&P 500 and NASDAQ, stocks from the US and UK markets, and cryptocurrencies like Bitcoin and Ethereum. This variety allows traders to explore multiple markets and customize their trading strategies.
Orbex provides several ways to reach customer support, including email at support@orbex.com, live chat on their website for immediate assistance, and telephone support at +442035198140. Their customer support team is available 24 hours a day, Monday through Friday, and offers assistance in multiple languages.
Orbex offers four account types: Starter Account for beginners with a minimum deposit of $100, Premium Account for experienced traders requiring a minimum deposit of $500, Ultimate Account for aspiring professionals with a minimum deposit of $25,000, and a Demo Account for new traders to practice trading without financial risk. Each type is tailored to meet different trading needs and experience levels.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.