Orbex Review 2024

Highlights of Orbex

Spread fromEURUSD0pips

Trading Assets

Forex Stocks Indices Cryptocurrency Precious Metals Energy Carriers Soft Commodities

Trading Platforms

MetaTrader 4 MetaTrader 5

3.6/5

More DetailsRegisterTrading CFDs carries high risks. You may lose all invested funds

About Orbex

Founded in 2009

Countries of registration:

Regulators:

FSCSFSASVGFSA

3.6/5

More Details

RegisterTrading CFDs carries high risks. You may lose all invested funds

Countries of registration:

Regulators:

FSCSFSASVGFSA

Trading Assets

ForexStocksIndicesCryptocurrencyPrecious MetalsEnergy CarriersSoft Commodities

Trading Platforms

MetaTrader 4MetaTrader 5

Deposit/withdrawal:

compare Orbex trading accounts

Orbex is a global broker regulated in Mauritius and Seychelles, offering a wide range of trading instruments including currency pairs, metals, indices, stocks, and cryptocurrencies.

Orbex provides access to numerous educational materials including video tutorials, webinars, and articles, making it a good choice for both novice traders and experienced investors.

However, it is worth bearing in mind that the broker is registered in offshore jurisdictions and charges above-average commissions.

Pros and Cons of Orbex

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Orbex Broker Overview

Orbex is an international Forex broker established in 2010 with over ten years of experience providing services in the financial markets trading sector. The company's headquarters are located in Seychelles, and it also has representations in Mauritius, allowing it to offer assistance to a wide range of clients around the world.

Orbex Review Summary

All evaluations in this broker review are based on thorough analysis and comparison of various aspects of the services provided by the company. We strictly follow our broker evaluation methodology to ensure objectivity and transparency in our conclusions. You can review our methods to learn more about how we evaluate brokers and which criteria we use. Continue reading to find out the details of the review and make an informed choice.

Legal Entity	Regulator
Orbex Global Limited Orbex Global Limited	FSC FSC
Orbex Limited Orbex Limited	SFSA SFSA
Orbex LTD Orbex LTD	SVGFSA SVGFSA

Orbex is regulated by the Financial Services Authority of the Seychelles (FSA) and the Financial Services Commission of Mauritius (FSC), which attests to the legitimacy of their operations on the international market. These regulators aim to monitor the activities of financial companies, ensuring the protection of investors' and traders' interests.

Nevertheless, it cannot be denied that stricter Forex broker regulators do not control Orbex. This may raise specific trust issues for some investors.

The account opening process at Orbex seems convenient and relatively fast. Still, the requirement for detailed completion of the trading profile and uploading several documents may take some time and effort, especially for beginners. Nevertheless, this also underscores the broker's seriousness and reliability concerning security and compliance with legislative requirements.

Registration

After completing the registration procedure, clients of Orbex broker gain access to a separate account in the self-service system. This is the trader's cabinet, which can be accessed from the website's main page.

For instant registration, it is enough to provide your full name, contact details, and country of residence.

Next, the broker offers to choose the type of trading account. We will discuss account types further in the review.

In the following form, you need to fill out the trading profile, including:

• date of birth;
• place of residence;
• citizenship;
• mailing address;
• US citizenship status;
• trading preferences;
• trading experience;
• information about primary employment and income;
• upload copies of documents verifying identity, residence place, and credit card possession.

An account can be opened for an individual trader, joint use of a single account by multiple market participants is also permissible, and corporate accounts for companies are available.

The login for the personal cabinet is the trader's email address, and a password can be set after confirming your email.

Client's Area

Orbex broker's cabinet is a convenient and intuitive online space where traders can manage their trading accounts, perform financial transactions, and use various services the broker provides.

The main functions and features of the Orbex personal cabinet include:

1. Account Management: clients can open new trading accounts, select account types, change leverage, and view information about the current state of their accounts.

2. Financial Operations: the personal area provides the ability to deposit and withdraw funds using various payment systems. You can also view the transaction history and manage your payment data here.

3. Trading Platforms: clients can download the MetaTrader 4 trading platform and access the web version and mobile applications for trading on different devices.

4. Analytics: the Orbex personal area presents analytical reviews and tools to help traders with Forex trading.

5. Technical Support: clients can contact support through the feedback section, ask questions, and get help resolving issues.

6. Settings and Personal Data: in the personal area, you can change your contact details, passwords, and security settings.

The Orbex personal area is designed with the needs of traders, providing convenience and functionality for effective management of trading assets and access to various broker services.

Verification

Verification is a crucial step when registering a trading account with a broker. This process ensures security and compliance with legislative requirements. Verification includes confirming the client's identity and place of residence.

Identity Confirmation

• An official document, such as a passport or ID card, is required.
• The document must be in color, legible, with all corners visible, and not expired.
• Copies of both sides of the chosen document must be provided.

Residence Confirmation

• A utility bill or bank statement can provide proof of residence.
• The document must contain the full name and address, be legible, in color, and be issued within the last 3 months.

It is important to note that verification times may vary. If all documents are in English, the process will take no more than 24 hours. Verification may take 2 business days or longer if documents are in another language.

This process underscores the transparency and reliability of the broker, ensuring the protection of client data and interests.

Minimum Deposit

At Orbex, the minimum deposit depends on the type of account chosen. Here are the main options:

• Starter: The minimum deposit is $100.
• Premium: The minimum deposit is $500.
• Ultimate: The minimum deposit is $25,000.

Thus, the minimum deposit to open an account with Orbex broker starts at $100 for a Starter account.

Orbex broker offers a variety of account types, which can meet the needs of different categories of traders, from beginners to professionals. Additional options such as free VPS hosting, PAMM accounts, and a demo account make the offer even more attractive. However, the absence of cent and fixed spread accounts is worth noting, which may limit the choice for some traders.

Trading Accounts

For trading, Orbex provides the following types of accounts:

The broker offers three types of trading accounts, each with minimum deposit requirements. These options allow traders to choose the account best suits their investment needs and strategy.

1. Starter: This account is ideal for beginners or those who want to start with a small amount. The minimum deposit is just $100, making it accessible and convenient for most traders.

2. Premium: The Premium account is designed for more experienced traders who are ready to invest more funds. The minimum deposit for this account is $500, providing greater access to various trading instruments and opportunities.

3. Ultimate: The Ultimate account is the best choice for severe and professional investors. The minimum deposit here is $25,000, opening up a wide range of advanced trading features and personalized service.

The choice of account depends on the trader's individual needs and financial capabilities. Minimum deposit requirements provide flexibility and variety, allowing traders to find the optimal balance between risk and profit potential.

Any account can be opened in US dollars, euros, British pounds, and Polish zlotys.

Also, free VPS hosting and the option to trade without swaps are available for each account type.

VPS

To access the free VPS, you need to:

1. make an initial deposit of at least $500;

2. close a minimum of 3 lots each month to be eligible for VPS renewal.

Server Technical Specifications

• CPU 1.9 GHz (Intel® Xeon® processors)
• RAM 2 GB
• Hard Drive 50 GB SSD
• Bandwidth 3 TB
• 99.9% uptime
• Pre-installed Orbex MT4 platform

Demo Account

The Orbex MT4 demo account allows you to familiarize yourself with the trading platform's features and learn to trade on charts and quotes in real-time without capital investment.

For those who have opened a training account, several advantages are available:

1. Free access to the broker's research and analytical centers for 30 days.
2. Free trading signals from the trading center.
3. Deposit from 500 to 5 million virtual base units.

To open a demo account, you must complete the registration form.

Islamic Account

Broker Orbex respects the values of its clients and offers a particular type of account known as an Islamic or Swap-Free account. This account is designed per Islamic religious beliefs, prohibiting business transactions involving interest payments.

Clients wishing to open an Islamic account should contact the broker's customer support.

PAMM Accounts

Orbex provides traders and investors with Forex PAMM accounts.

PAMM account (Percentage Allocation Management Module) is an investment tool that allows investors to entrust their funds to experienced traders (managers) for trading in financial markets such as Forex. The manager uses their strategies and knowledge to execute trades, and the resulting profit or loss is distributed among the account participants proportionally to their contributions.

You can apply to open or invest in a PAMM account through the personal cabinet. Afterward, you will receive login details for the Orbex PAMM service via email: pamm.iorbex.com.

Orbex commissions are above average. This may make Orbex less attractive for those seeking minimal trading costs.

Trading Commissions

Trading commissions include various costs associated with trading, such as transaction fees, spreads, and swaps.

Transaction Fee

On the Premium account, the main expense is the transaction fee, which is $8 per lot. This is higher than many competitors and can be an essential factor when choosing this type of account.

Below is the commission per lot one way for the EURUSD pair at different Forex brokers:

Spreads and Swaps

On the Starter account, the main trading costs are associated with spreads and swaps. Orbex's spreads and swaps are higher than those of most competitors. This can also affect the overall cost of trading on this account.

Spreads and swaps for major currency pairs on the Starter account are as follows:

It should be noted that spreads and swaps are dynamic parameters. For up-to-date figures, please visit the official Orbex website.

Inactivity Fee

Orbex charges an inactivity fee of 20 USD, 20 EUR, 20 GBP, or 20 PLN per month (depending on the client's account base currency) for inactive accounts for six months or more. If an account remains inactive for twelve months, it is considered closed. This fee will not result in a negative balance on the client's account, but it can quickly deplete the account balance if it remains inactive.

A wide range of available methods, absence of commissions, and reasonable time frames make funding and withdrawing from an Orbex account convenient and efficient for traders of various levels and needs.

Deposit Methods

Payment System	Currencies	Deposit Fee	Operation Limit
Skrill	USDEURGBP. . .show all	0%	from 50 USD
Neteller	USDEURGBP. . .show all	0%	from 50 USD
Perfect Money	USDEUR	0%	from 50 USD
FasaPay	USDIDR	0%	from 50 USD
Bank Transfer	USDEURAED. . .show all	0%	from 200 USD
Visa	USDEURGBP. . .show all	0%	from 50 USD
Mastercard	USDEURGBP. . .show all	0%	from 50 USD
Przelewy24	PLN	0%	from 50 USD

Cryptocurrency	Blockchain	Deposit Fee	Operation Limit
USDT (Tether)	ERC20	0%	from 50 USD
USDT (Tether)	TRC20	0%	from 50 USD

When registering an account, you create a particular Orbex wallet, which allows you to manage funds and make deposits, withdrawals, and transfers between accounts. You can create one wallet for each currency: USD, EUR, GBP, or PLN.

Deposits and withdrawals from Orbex accounts are conducted without commissions from the broker.

Withdrawal Methods

Payment System	Currencies	Withdrawal Fee	Operation Limit
Skrill	USDEURGBP. . .show all	0% limitscommission limits	from 50 USD
Neteller	USDEURGBP. . .show all	0%	from 50 USD
Perfect Money	USDEUR	0%	from 50 USD
FasaPay	USDIDR	0% limitscommission limits	from 50 USD
Bank Transfer	USDEURGBP. . .show all	0%	from 200 USD
Visa	USDEURGBP. . .show all	0% limitscommission limits	from 50 USD
Mastercard	USDEURGBP. . .show all	0% limitscommission limits	from 50 USD
Przelewy24	PLN	0% limitscommission limits	from 50 USD

Cryptocurrency	Blockchain	Withdrawal Fee	Operation Limit
USDT (Tether)	ERC20	0%	from 50 USD
USDT (Tether)	TRC20	0%	from 50 USD

The same methods used for deposits are utilized for withdrawals.

For most methods, withdrawals take up to 24 hours. Withdrawals via bank transfer can take from 3 to 5 business days.

Orbex offers a diverse selection of trading instruments. Moreover, the maximum leverage, which varies depending on the trading instrument, can meet the needs of various traders.

What markets are available?

The Orbex broker's arsenal includes:

Leverage

Leverage varies depending on the trading instrument and the capital in the account. Below is a table with the maximum leverage for different markets.

Orbex offers clients two popular and reliable platforms, MetaTrader 4 and MetaTrader 5, which provide extensive functionality and are available on various devices, including personal computers, tablets, and smartphones. However, the lack of WebTrader versions, which would allow trading directly through a web browser without installing additional software, is a disadvantage and limits the flexibility in trading methods.

MetaTrader 4

Orbex allows clients to trade on the multilingual trading platform MetaTrader 4, which processes client requests in no more than an hour, enables Forex trading, and provides simple and fast fund withdrawals.

The MT4 platform is available on personal computers, tablets, smartphones, and other mobile devices. All necessary software can be downloaded from the broker's account area.

A downside of Orbex is that it is impossible to use the WebTrader version, which does not require software installation and provides direct access to the trading space through a browser.

MetaTrader 5

MetaTrader 5 (MT5) is another platform available to Orbex clients. This version offers advanced features compared to MT4, including more timeframes, additional indicators, graphical tools, and the ability to trade on stock and commodity markets.

MT5 provides a higher-order processing speed and offers enhanced analytical tools. The platform is available for download on personal computers, tablets, and smartphones, ensuring flexibility and convenience for traders of different experience levels.

Nevertheless, as with MT4, there is no WebTrader version for MT5, which limits access to trading via a web browser. This may disadvantage those who prefer to trade without downloading and installing additional software.

Broker Orbex offers a comprehensive set of analytical tools covering technical and fundamental analysis and market sentiment analysis. With the help of artificial intelligence, economic calendars, calculators, and expert reports, traders can obtain a comprehensive market analysis. Furthermore, access to these tools is provided through a convenient personal account, and weekly forecasts and live broadcasts on Orbex WebTV add value.

Analysis from the company's experts

Broker Orbex has a team of analysts who conduct live broadcasts on Orbex WebTV, discuss the latest news, and perform technical and fundamental market analysis. Weekly Forex forecasts from the broker's experts are presented in the form of reports in English. All this can be found on the Orbex blog.

An up-to-date economic calendar and a trader's calculator are available for all website visitors seeking to stay informed about upcoming events.

Analytical Tools

Analytics at broker Orbex plays an important role and provides traders with a wide range of tools for successful trading. The following analytical tools are available in the personal account:

• TC Market Buzz. A tool for sentiment analysis and news, utilizing artificial intelligence to scan blogs and news websites, providing a concise and accurate overview of various assets.

• Economic Insight Calendar. A next-generation economic calendar with access to real-time critical market event data.

• Technical Views. A tool that combines algorithmic analysis with expert research to identify the most promising trading opportunities.

• Trading Calculators. Orbex's currency converter and pip value calculator for quick calculation of position values in the chosen currency.

• Reports. Orbex reports include technical analysis and trend formation forecasts from Trading Central, expert analysis from the Orbex team on key intraday opportunities, and Elliott Wave analysis on major currency pairs.

These tools are available for 2 months for unfunded accounts; a deposit is required for unlimited access.

Such various analytical tools make Orbex an attractive choice for traders of all levels seeking a deep understanding of the market and effective trading.

Broker Orbex places a significant emphasis on trader education, offering a variety of educational materials.

What educational materials are available?

For beginners and experienced traders, Orbex conducts webinars and seminars in various languages and offers free e-books for registered users, video courses, and guides on using the MT4 trading platform.

Orbex Broker's technical support offers a variety of communication channels, operating 24/5. However, reviews about the quality of support vary greatly.

Contact Information

Orbex customer support service operates 24/5. You can contact them in the following ways:

• via email at support@orbex.com;
• through online chat;
• by phone at +442035198140 or +442036565401;
• through the feedback form.

Support Reviews

Reviews of Orbex's technical support are varied, presenting positive and negative opinions.

Some traders highly rate the support service, noting the speed and honesty in processing deposits and withdrawals. They praise the quality of service and emphasize that they receive their funds within 24 hours.

However, there are negative reviews where clients accuse the company of fraudulent practices and a negative attitude toward fund withdrawals. They report delays in withdrawal processing and unjustified fees.

Such various opinions may indicate the nature of each client's experience and the need for additional research into the company's terms and policies before starting trading.

Conclusion

Broker Orbex offers various trading instruments, account types, and extensive analytical and educational materials. These factors make it an attractive choice for novice traders seeking educational resources and experienced investors who require access to various markets.

Orbex can be a good choice for those looking for diversity in trading opportunities and value educational resources.

FAQ

Is Orbex legit?

Yes, Orbex is a legitimate and regulated broker. It is authorized and regulated by the Financial Services Commission (Mauritius), Financial Services Authority Seychelles, and Financial Services Authority St Vincent & The Grenadines.

Which country is Orbex from?

Orbex is based in Ebene, Mauritius. It also has offices in other countries, including Seychelles and Saint Vincent and the Grenadines.

Is Orbex an ECN broker?

No, Orbex isn't an ECN (Electronic Communication Network) broker. Orbex operates as an STP (Straight Through Processing) broker.

How does Orbex make money?

Orbex primarily makes money through the spread, which is the difference between the bid and ask prices. They also charge swap fees for overnight positions and may have commission fees on some account types.

Is Orbex good for beginners?

Yes, Orbex is suitable for beginners. They offer a user-friendly trading platform, educational resources, and a demo account to practice trading.

Does Orbex offer a demo account?

Yes, Orbex offers a free demo account with virtual funds, allowing traders to practice strategies and familiarize themselves with the trading platform.

How can I open an account with Orbex?

To open an account with Orbex, visit their website and click on the "Open an Account" button. Follow the registration process, provide the necessary documentation, and choose your account type.

How can I delete my Orbex account?

To delete your Orbex account, contact their customer support team and request an account closure. You may need to withdraw any remaining funds and provide a reason for closing the account.

What is the minimum deposit for Orbex?

The minimum deposit for Orbex varies depending on the account type. For a Starter account, the minimum deposit is $100, while for a Premium account, it is $500.

What is the maximum leverage on Orbex?

The maximum leverage offered by Orbex is 1:500. However, leverage limits may vary depending on the instrument and the trader's jurisdiction.

How do I deposit funds in an Orbex account?

Orbex supports various deposit methods, including bank wire transfers, credit/debit cards, cryptocurrencies, and e-wallets like Skrill and Neteller. Log in to your account, go to the deposit section, and follow the instructions for your preferred method.

How do I withdraw money from Orbex?

To withdraw funds from Orbex, log in to your account, go to the withdrawal section, and request a withdrawal. You may need to provide additional documentation to verify your identity.

Does Orbex provide VPS?

Yes, Orbex offers a free VPS (Virtual Private Server) service for clients who maintain a minimum account balance and trade a certain volume.

Is Orbex suitable for scalping?

Yes, Orbex allows scalping and provides fast execution speeds, making it suitable for scalping strategies.

Is Orbex suitable for auto-trading?

Yes, Orbex supports auto-trading and allows the use of Expert Advisors (EAs) on their MT4 platform.

Is Orbex suitable for hedging?

Yes, Orbex allows hedging, enabling traders to open multiple positions on the same instrument in opposite directions.

Is Orbex suitable for spread betting?

No, Orbex does not offer spread betting services. They provide CFD trading and forex trading.