Orbex Review 2020

4.7

By 10 User Reviews

Regulated By:CySEC, FCA, FSC

Foundation Year:2010

Headquarters:82nd Street No.6 Ground Floor, Kato Polemidia 4153

Min Deposit:$200

Open Account

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Jitan Solanki

Last updated: Jan 15, 2020

At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

“Orbex is a Forex broker regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Mauritius Financial Services Commission (FSC). The broker offers the ability to trade on Forex, Indices, Metals and Energies on the MetaTrader 4 trading platform.”

Orbex was founded in 2010 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Mauritius Financial Services Commission (FSC).

The broker offers users access to 4 different types of trading accounts called Fixed, Starter, Premium and Ultimate. Each account has different minimum deposits and commissions, as well as services. Orbex also offers Islamic swap-free trading accounts and demo accounts.

With Orbex, users can trade on Forex, Indices, Metals and Energies through the MetaTrader 4 trading platform for Windows desktop and via the mobile app on Android and iOS. The broker also provides an impressive range of online trading tools and education services such as webinars and free video courses.

Pros:	Cons:
CySEC and FSC regulated. Islamic swap-free accounts are available. Impressive research tools, education and trading tools. Wide variety of different account types for beginner and advanced traders.	No MetaTrader 5. No stocks or shares.

General Information

Official Site:https://www.orbex.com

Demo:Open Demo Account

Regulated By:CySEC, FCA, FSC

Foundation Year:2010

Headquarters:82nd Street No.6 Ground Floor, Kato Polemidia 4153

Min Deposit:$200

Max Leverage:1:500

Publicly Traded:No

Deposit Options:Credit Card, FasaPay, Moneybookers, Neteller, Skrill, Sofort, Webmoney, Wire Transfer

Withdrawal Options:Credit Card, FasaPay, Moneybookers, Neteller, Skrill, Webmoney, Wire Transfer

Tradable Assets:Currencies, Commodities, Indices, Futures

Trading Platforms:MT4

Commission on Trades:Yes

Fixed spreads:Yes

Trading Desk Type:No dealing desk

OS Compatibility:Desktop platform (Windows), Desktop platform (Mac), Web platform

Mobile trading:Android, iOS

Accepts Us Clients:No

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Orbex Video Review

Investor Protection & Regulations

“Orbex.com is owned by Orbex Limited which is regulated by CySEC but operated by Orbex Group Limited which is regulated by the Mauritius Financial Services Commission (FSC). The broker advertises the segregation of client funds and is part of the Investor Compensation Fund.”

Orbex.com is an approved domain of Orbex Limited which is licenced and regulated by the Cyprus Securities and Exchange Commission (CySEC), as confirmed on the CySEC register:

Orbex.com is operated by Orbex Global Limited which is licenced and regulated by the Mauritius Financial Services Commission, as confirmed on the FSC register shown below:

According to the broker’s website, they offer further protection to retail clients by holding client funds in segregated accounts and being part of the Investor Compensation Fund.

The broker does not accept clients from the USA.

Tradable Products

“Orbex offers users the ability to trade on Forex, Indices, Metals and Energies.”

Orbex offers clients the ability to trade on different instruments including 30+ Forex pairs, 7+ Indices and 5 Commodities.

Below is a list of just some of the available markets for trading:

Forex	Indices	Commodities
EUR.MXN	US 30	WTI Oil
GBP.USD	Germany 30	Natural Gas
USD.ZAR	SPX 500	XAU.USD
NZD.JPY	HK 50	XPD.USD
AUD.CHF	China 50	XPT.USD

* Details regarding the available assets are taken from the Orbex website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and the account type opened. A detailed review of the trading costs with Orbex can be found further down this review.

Account Opening

“Orbex offers 4 types of trading accounts called Fixed, Starter, Premium and Ultimate. The broker also offers Islamic swap-free accounts and demo trading accounts.”

Orbex provides 4 different types of trading accounts for users, as shown below:

Both the Fixed and Starter accounts allow users to trade commission-free with fixed or variable spread depending on the account chosen. These two accounts also have the lowest minimum deposit amounts and users can access monthly webinars and get access to Trading Central.

Both the Premium and Ultimate accounts are commission-based with spreads starting from zero pips. Users can access 1 on 1 training sessions and exclusive webinars but will need higher minimum deposit amounts.

To open an account, users simply need to click on the ‘Open Account’ tab at the top of the broker’s homepage, which will then open up the following form:

Not that this account opening defaults to the Orbex Global Limited which is regulated by the Mauritius Financial Services Commission. From here users can open individual, joint or corporate accounts.

Once these details have been inputted, users are then asked to fill in more details, starting with your trading profile, as shown below:

From here, users can scroll down to fill in Trading Preferences, Trading Experience, Financial Information and Job Information. Lastly, users are asked to verify their identity by uploading supporting documents:

Deposit & Withdrawals options

“Orbex provides multiple deposit and withdrawal methods, including through debit and credit cards, bank wire transfer and through MoneyBookers, WebMoney, Neteller, Fasapay and K-Net.”

Orbex provides multiple deposit and withdrawal methods, including through debit and credit cards, bank wire transfer and through MoneyBookers, WebMoney, Neteller, Fasapay and K-Net.

Deposits are fee-free and can be anywhere between 2 hours or 5 days depending on the method of deposit. Withdrawals are also fee-free and can take between 24 hours and 5 business days. More details can be found on the broker’s website, as shown below:

Web & Desktop Trading Platforms

“Orbex offers its clients the use of the globally-recognised MetaTrader 4 trading platform for Windows desktop.”

Orbex offers its clients the use of the globally-recognised MetaTrader 4 trading platform for Windows desktop. Downloading the platform can be done from the broker’s website. Some advantages of using the Orbex MetaTrader 4 trading platform include:

Here is what the Orbex MT4 trading platform looks like once downloaded:

Mobile Trading Platforms

“Orbex offers users the ability to trade on the MetaTrader 4 mobile trading app via Android, iPhone or iPad.”

Orbex offers users the ability to trade on the MetaTrader 4 mobile trading app via Android, iPhone or iPad.

Android users can access a complete set of trade orders, trading history and interactive charts. iPhone or iPad MT4 users also enjoy access to a wide variety of trading orders, chart timeframes and live streaming quotes.

The Orbex mobile trading app can be downloaded via the Google Play Store or Apple App Store. Alternatively, download links can be found on the broker’s website, as shown below:

Trading Features

“Orbex provides some impressive additional trading features such as access to Trading Central’s Technical Analysis, free VPS services and access to Orbex Strategizer for algorithmic Forex trading that requires no coding experience.”

Orbex provides free access to Trading Central services such as their MT4 Technical Analysis indicator, as shown below:

The broker also offers free VPS services so users can have MT4 expert advisors running 24 hours a day, 5 days a week with no interruption, as confirmed below:

Orbex has also teamed up with TradeWorks and provides users the ability to build algorithmic trading systems without any coding experience required. Users can create their own trading strategies and let them run on the Orbex MT4 platform, as confirmed below:

Commissions & Spreads

“Trading costs with Orbex vary depending on the market being traded and the account type opened. Some accounts offer commission-free trading and some offer commission-based trading.”

Trading costs with Orbex vary depending on the market being traded and the account type opened. Some accounts offer commission-free trading and some offer commission-based trading. For example, both Fixed and Starter accounts offer fee-free trading whereas the Premium account is $8 per round turn and the Ultimate account is $5 per round turn, as shown below:

Unfortunately, the broker doesn’t provide spread information for individual Forex pairs on the different trading accounts. However, they do provide some of the lowest spreads users could receive on the different accounts, as shown below:

Fortunately, they do provide some information on the average spread of Metals trading, as shown below:

They also provide information on the average spread of Energies trading, as shown below:

And on Cash Indices trading, as shown below:

Users can also view swap rate information on the broker’s website or via the Orbex MT4 platform.

Bonus & Promotions

“Due to restrictions set by the regulative body, Orbex does not offer bonus or promotional schemes.”

At the time of writing, there are no bonus- or promotional offerings advertised on the Orbex website.

Customer Support

“Orbex offers customer support via a 24/5 Live Chat function and dedicated Telephone and Email support for various regions and clients can request a Callback. The website features an elaborate FAQ section and direct links to the brokers Social Media channels.’’

The contact information for Orbex is easily accessible from the homepage of the website. The Live Chat- and Request Call Back icons are centrally featured on each page. By clicking the ‘support’ ’ menu tab, the visitor can access other options to contact the broker. The ‘Contact us’ page lists all the 4 main options: Telephone, Email, Live Chat, a Call Back request form and links to Orbex’ Social Media channels.

The live chat can be accessed by inputting your name, email address and account number, if applicable. Visitors can also login using their Facebook account.

Orbex uses this information to offer personalised client support. Visitors can opt to speak to a customer service representative in the language of their preference, by selecting one of the options listed below.

The Live Chat Function is available on 24/5, on weekdays GMT +2. Upon making an enquiry via the chat function we were greeted within the minute with a personal welcome message as shown in the screenshot below. The costumer service representative is polite, helpful and knowledgeable.

The website further features a Call Back Request Form. Users can submit a request for an agent of the Sales, Customer service or Account openings department to call them back within a specified time slot as shown in the following screenshot.

For users wishing to speak to someone, Orbex also offers traditional Telephone support. The Contact Us lists the phone and fax numbers for 4 local offices.

The page further includes a dedicated email address for each department and lists the times the team is active.

At the bottom of the page, the user can find an Online Feedback form for questions and feedback. In addition, you can interact with the broker, using one of the Social Media channels, linked on the website. Orbex has a presence on the main Social Media outlets such as Facebook, Linkedin, Twitter and Youtube.

For instant feedback and answers to the most common queries, users can consult the FAQ section, in the ‘Support’ section of the website. In this extensive and comprehensive overview, the most Frequently Asked Questions are listed and categorized per the theme. A search bar allows users to browse any queries relating to their topic of interest.

Contact Information:

Address Head office: 82nd Street, No.6, Ground Floor, 4153 Kato Polemidia Limassol, Cyprus

Email: support@orbex.com

Phone: +442035198170

Social Media:

Research

“Orbex offers several useful trader research tools. The site features an economic calendar, trading calculator, regular analysis and market outlook reports and comprehensive trading tips and resources for both beginning and advanced traders.’’

Orbex offers multiple research tools in the dedicated ‘Online Trading Tools’ section of the website. This includes market updates and outlook reports and technical- & fundamental analysis in both feature-rich articles and video format.

The ‘Research’ area is divided into different sub-sections, making it easy for the user to navigate and find the content they are looking for. Orbex seems to have a strong focus on analysis and works with a team of specialists to provide different forms of market analysis reporting.

By clicking on the ‘Technical Analysis’ and the ‘Fundamental Analysis’ tabs, the user is redirected to a dedicated broker owned blog. Both categories are updated multiple times daily and include feature-rich articles from various traders and analysts. Each article is labelled per topic such as making it easy for the user to explore the content related to their area of interest.

An example of the written analysis content is shown below:

The articles are feature-rich and can be of value to beginner traders as well as more advanced traders. Orbex offers elaborate and varied market analysis content. Forex traders can benefit from weekly (written) FX market reports and the broker further caters to those who prefer audiovisual content.

Orbex Web TV showcases a current video market update by one of the brokers in-house market technicians. By clicking on the video, the user will be directed the Orbex’ Youtube channel containing a wealth of market analysis videos. A quick scroll through the content shows us that video content is added regularly and is available in English as well as Spanish. The image below illustrates an example of the listed content.

In addition, the broker advertises Podcasts & Webinars for those who favour a more interactive experience.

Aside from Orbex’ extensive analysis database, the broker offers several useful tools that can support users in their trading activities. The calculator tools allow traders to determine factors such as their position size, margin and risk and can be used for currency conversion or to calculate pivot points. The broker further provides an economic calendar, a glossary and practical trading tips.

Trader Education

“The Orbex website features an online learning centre providing webinars, E-books, tutorials and complete video courses.’’

The video tutorials cover topics ranging from the practical application and use of the MetaTrader 4 trading platform to the guides to utilising different trading indicators, techniques and strategies.

The ‘Learn Forex’ section is particularly useful for aspiring- or beginning traders; covering the basic terms and concepts relating to currency trading.

By clicking on the ‘E-book’ section users gain access to a free online library with written work covering various topics; an excerpt of which shown below.

Trading Experience

“Orbex provides a simple Forex and CFD trading offering suitable for both beginner and advanced traders. Users can access Forex, Indices, Metals and Energies on the globally-recognised MetaTrader 4 trading platform for Windows desktop and mobile. Users may enjoy the 4 different trading accounts, access to Islamic swap-free accounts and Trading Central services.”

From our observations, Orbex provides a simple Forex and CFD trading offering suitable for both beginner and advanced traders. Users have access to 4 different types of trading accounts with some commission-free and others commission-based.

Traders also have access to Trading Central services, free VPS services and the Orbex Strategizer for those interested in starting algorithmic trading but have no coding experience. The broker also provides an impressive range of research and education tools.

FAQ

Is Orbex regulated?

Yes, by the Mauritius Financial Services Commission (FSC) and the Cyprus Securities and Exchange Commission (CySEC).

Where is Orbex based?

Orbex is based at 82nd Street, No.6, Ground Floor, 4153 Kato Polemidia Limassol, Cyprus.

How does Orbex make money?

Orbex makes money through spreads, swaps and commissions on certain tradable asset classes.

How do I deposit in Orbex account?

Funds can be deposited into a trading account via debit or credit card, bank wire transfer, MoneyBookers, WebMoney, Neteller, Fasapay and K-Net.

What is the min. deposit for Orbex?

The minimum deposit for Orbex is 200 USD.

How do I withdraw money from Orbex?

Withdrawals can be made from Orbex via debit or credit card, bank wire transfer, MoneyBookers, WebMoney, Neteller, Fasapay and K-Net.

What is the max leverage in Orbex?

The maximum leverage offered by Orbex is 500:1 for clients opening an account under the Mauritius Financial Services Commission regulatory licence.

How do I open an account with Orbex?

An account can be opened at the click of a button on the Orbex website and can be done in just a few steps.

Does Orbex use MetaTrader?

Yes, MetaTrader 4 for Windows and mobile.

Conclusion

“Orbex is a Forex broker regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Mauritius Financial Services Commission (FSC). The broker offers the ability to trade on Forex, Indices, Metals and Energies on the MetaTrader 4 trading platform and provides trading features such as access to Trading Central and the Orbex Strategizer.”

Orbex was founded in 2010 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Mauritius Financial Services Commission (FSC). The broker advertises the segregation of client funds from their own.

The broker offers users access to 4 different types of trading accounts called Fixed, Starter, Premium and Ultimate. Each account has different minimum deposits and commissions, as well as services. Orbex also offers Islamic swap-free trading accounts and demo accounts.

With Orbex, users can trade on Forex, Indices, Metals and Energies through the MetaTrader 4 trading platform for Windows desktop and via the mobile app on Android and iOS. The broker also provides an impressive range of online trading tools and education services such as webinars and free video courses as well as access to trading features such as Trading Central and the Orbex Strategizer.

CySEC and FSC regulated.
Access to free Trading Central indicator.
Supports algorithmic trading through the Orbex Strategizer for those with no coding experience.
Impressive trading research tools and education.

Official Site >

OPEN ACCOUNT

DEMO ACCOUNT

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Top User Reviews

See All User Reviews

4.7(10)

Orbex Overall Rating

FX Empire adheres to strict standards of user reviews editorial guidelines to help you make decisions with confidence.

Latest 5 user reviews sorted by highest rating

J

Jon Farrow

Jan 21, 2019

5/5

Reliability:

5/5

Great customer support

Customer support is great, quick, not pushy and knowledable

M

Matt Udahl

Jan 21, 2019

5/5

Reliability:

5/5

Good account types

Good account types, I like the info on their blog.

A

Alexander Brent

Oct 29, 2018

5/5

Reliability:

5/5

Unexpected such a great exprience

I never knew trading forex can be such smooth :) But I must thank Orbex for a great experience since last 8 months. They offer good conditions and are fast in processing withdrawals. Also, their spreads and licenses are additional reasons that make me rest assure with them.

K

Keny Tan

Oct 02, 2018

5/5

Reliability:

5/5

Safe and reliable broker

Many cross-currencies and excellent trade execution, I always feel happy to be with Orbex. In addition, their deposit/withdraw speed and customer-oriented stupport is really good.

R

Rhys Carpenter

Sep 02, 2014

5/5

Reliability:

5/5

Very Responsive Customer Service

<p>The support guys are very helpful and prompt with their call back</p>

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Orbex Review 2020

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