For traders who need mobility, the Orbex MT4 is also available free of charge as a mobile trading app from Google PlayStore or Apple App store. The mobile trading app allows users to make trades, keep abreast of all the developments in the market, analyze the markets and check your trading account.
Trading Features
“With Orbex, you have access to a high leverage ratio of 1:500. In addition, you have the option to trade with fixed spreads or with variable spreads. You can use the MT4 platform of FXStat Tradebook for copytrading.”
Orbex offers a good mix of trading features. With Orbex, you have access to a high leverage ratio of 1:500. In addition, the broker uses a reliable and proven trading platform to ensure all trades are executed efficiently. You have the option of trading with fixed spreads or with variable spreads. Here’s a look at some of the other features on offer:
FXStat
Orbex provides you the option of connecting with the FXStat Tradebook copy-trading system to let you copy the trades of more experienced traders.
TradeLab
Other features include the TradeLab platform, which is an idea sharing system where you can seek & follow forex trade ideas from the online trading community, or post your own.
Trading Central
As a trader with Orbex you will also have access to Trading Central which will give you detailed technical analysis reports on forex, metals, and index assets covering different time frames to address different forex trading strategies.
Orbex Strategizer
The Orbex Strategizer is a great feature that enables you to create your own Expert Advisors or forex trading strategies and having them run directly on the MT4, without you having to do any coding at all.
Orbex VPS
Orbex has also provided free VPS which will enable its traders to deploy their expert advisors 24 hours a day without having to be connected to an internet enabled computer.
Commissions & Spreads
“The trading cost at Orbex is a mix of both spreads and commission depending on the type of trading account used by the trader. For the general trading accounts, the minimum spreads ranges from a fixed spread of 1.9 pips to minimum variable spread of 0.8 pips”
In the list below you can see the starting spreads for each account types.
- Classic Account – 1.9 pips fixed
- Standard Account – 1.5 pips
- Premium account – 1.2 pips
- VIP Account – 0.8 pips
*The data is all taken from the broker’s website at time of writing
Bonus & Promotions
“Orbex does not have any form of promotional offers or bonuses due to the restrictions imposed by CySEC.”
As for bonuses, Orbex does not have any form of promotional offers or bonuses due to the restrictions imposed by CySEC.
Customer Support
“Speak to the team in 14 languages, over the telephone, live chat, fax or by email.”
In terms of customer support, Orbex’s website is translated in 14 different languages to cater for its clientele in different parts of the world. The broker is particular with the support it renders and hence has multiple communication channels open for its traders to contact the support team. You can reach out to the support team through email, live chat, fax or the telephone. Their Live Chat service is superb, they respond within seconds in a friendly and efficient way. They answered our question about market analysis really succinctly. Well worth getting in touch with the support reps if you have any questions.
For clients in the Middle East, Orbex has also made available several localized numbers, which they can call. The countries which are supported by localized telephone support numbers are Cyprus, Egypt and Jordan. Orbex is also active on social media and this means you can also reach out to the broker through Facebook, twitter, instagram and Google plus. Overall, Orbex claims to make it a point that all queries to its support team are handled within 24 hours.
Research
“Orbex has provided its traders a full array of trading and research tools. Some of the tools provided free of charge include an economic calendar, a risk calculator, margin calculator, currency convertor and pivot point calculator.”
Orbex has provided its traders a full array of trading and research tools. They send emails to their traders twice a day with updated market analysis and news. Their website hosts daily intraday market reports and weekly FX reports which are really helpful. Some of the tools provided free of charge include an economic calendar, a risk calculator, margin calculator, currency convertor and pivot point calculator.
Additionally, Orbex Web TV is a free service that features market analysis, market news, and reports based on fundamental and technical analysis. The broadcasted events are all created by the in-house research team.
Education
“The educational materials provided by Orbex for its traders are comprehensive covering webinars, video courses, ebooks and tutorials.”
The educational materials provided by Orbex for its traders are comprehensive covering webinars, video courses, ebooks and tutorials. For beginner traders, they can start with a forex trading course. The course covers materials such as:
- BID/ASK spreads
- Expert Advisors
- Forex Trading Platform
- Fundamental Analysis
- Leverage Trading
- Risk Management
- Technical Analysis
- Trends
Experienced traders can also refer to the tutorials for more advanced topics such as Trading with the Relative Vigor Index (RVI), Trading with the Rate of Change (ROC) Indicator and tutorial on using custom chart time frame on the MT4 platform.
Trading Experience
“Orbex is suitable for both beginners and experienced traders. This is seen from the types of available trading accounts to the educational materials provided by Orbex.”
Overall from our observation, we noted that Orbex is suitable for both beginners and experienced traders. From the types of available trading accounts to the educational materials provided by Orbex, there is something for everyone. Both the layout of the website has also made it easy for anyone to navigate around. The offering is packed with products and features that can be really useful to all manner of traders.
FAQ
Is Orbex regulated?
Yes, Orbex is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC).
Where is Orbex based?
Orbex main office is based in Limassol Cyprus. Its office address is located at 82nd Street, No.6, Ground Floor, 4153 Kato Polemidia Limassol, Cyprus
How does Orbex make money?
Orbex charges its traders a commission and spread on the trades executed on its trading platform.
How do I deposit in Orbex account?
To fund your trading account at Orbex, you can deposit through bank wire, credit card and e-Wallets.
What is the min. deposit for Orbex?
The minimum deposit requirement at Orbex is $500.
How do I withdraw money from Orbex?
Withdrawals at Orbex is by means of the same methods used for making a deposit which is through bank wire, credit cards or e-wallets. It is important to note that the withdrawal methods actually follows the same method used for making the deposit.
What is the max leverage in Orbex?
The maximum leverage ratio offered by Orbex is 1:500. However the default leverage is 1:30 as is standard with CySEC brokers.
How do I open an account with Orbex?
To open an account with Orbex you need to first fill out a registration form and submit it with all the required documentation for account verification. You will then pick an account type and deposit funds.
Does Orbex use MetaTrader?
Yes, Orbex uses the MetaTrader 4 trading platform as its main platform. It offers it for download, the WeTrader version, Mac version, iPad, Android and iOS.
Conclusion
In conclusion the broker offers a secured trading environment for all its traders to execute their trading activities. Orbex is a regulated broker under CySEC and abides by strict regulatory requirements. Apart from having strict regulatory oversight, Orbex also offers its traders protection under the Investor Compensation Scheme. For beginner traders, they will find an abundance of trading resources and tools which will help them improve their trading skills tremendously.
The only drawback that we have managed to find on Orbex is the relatively modest asset index.
