Orbex Review 2018
Notice: Orbex’s Review is Outdated!
Orbex Video Review
ORBEX is an online forex trading platform that was established in 2010. The brokerage firm is based in Limassol, Cyprus. They also maintain a support office in Kuwait. The broker is regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license # 124/10 held under the company name ORBEX Ltd. Although the ORBEX brand is a fairly new name among the online trading community, it is has already been recognized as one of the leading brands in the industry. This is largely due to the fact that ORBEX has managed to provide high quality services and a comprehensive educational program for all their clients.
Orbex Reliability – Is Orbex a scam?
Established only in 2010, ORBEX is still considered by many traders as a relative newcomer to the online forex trading industry. A major problem for an online broker which lacks brand recognition is the fact that many traders are unsure about the reliability of the broker. This puts newly established brokers like ORBEX at a disadvantage when competing with the more established brokers in the industry.
Fortunately one of the major factors which goes a long way in helping to lessen the anxiety which new traders might have about ORBEX’s reliability is the regulatory oversight provided by the Cyprus Securities Exchange Commission (CySEC). As a Cyprus Investment Firm (CIF), ORBEX is regulated by CySEC under the CIF license number 124/10. This mean ORBEX is required to abide by the strict regulatory requirements such as having sufficient capital to maintain the capital adequacy ratio, being transparent with is operations and maintain segregated accounts for their clients’ funds. In addition, ORBEX is also obligated to be a member of the Investor Compensation Scheme. In other words, your trading funds is protected up to the amount of 20,000 euros should ever ORBEX become unable to fulfill its contractual obligations.
Apart from safeguarding the interest of their clients with regulatory oversight, ORBEX has also done their utmost best to provide assistance to their clients whenever they need help. This is demonstrated by the fact the customer support team is available on live chat 24 hours a day throughout the entire trading week. Given the way ORBEX has operated over the past few years, new traders have very little to worry about the reliability of upcoming brokerage firm.
The main trading platform offered by ORBEX to their clients is the award winning MetaTrader 4 (MT4) platform. The MT4 platform is widely used by traders and brokers from all over the world due to the various advantages that it offers such as:
- Account Trading summary
- Comprehensive Charting packages
- ECN Trading
- Support Automated Trading with Expert Advisors
- Support Trailing Stops
- User Friendly
- Wide range of technical indicators
In addition to its versatility, the MT4 trading platform is available in several versions:
- MT4 Desktop
- MT4 Mac OS
- MT4 Android
- MT4 iPhone/iPad
- MT4 Multi Terminal
- MT4 WebTrader
ORBEX also support auto trading through the social trading network FXStat TradeBook. Through this network, traders at ORBEX are able to copy the trades of hundreds of other traders within the same network. And to help their traders keep up with all the developments within the trading community, ORBEX has also provided them with ORBEX TradeLab. This is an idea sharing platform where traders can share ideas. Finally, ORBEX has also provided their traders with a free VPS service. With this service, a trader can utilize his EA to place trades on a 24 hours basis throughout the entire trading week without the need of his computer constantly being connected to the internet.
To their clients’ trading needs, ORBEX has provided 6 different types of trading accounts.
Universal Mini Forex Account
Suited to Beginner Traders
Minimum Deposit of $500
Universal Standard Forex Account
More benefits for the upcoming trader
Minimum Deposit of $3000
Universal Advanced Forex Account
Better spreads for the advanced trader
Minimum Deposit of $50,000
ECN account for the beginner trader
Minimum Deposit of $500
For Professional level traders looking to lower their transaction cost
Minimum Deposit of $25,000
Swap Free Universal Type accounts for traders who want to according to Sharia principles of no “RIBA”.
Commission & Spreads
The spread at ORBEX are extremely competitive with the minimum spreads starting from:
- 9 pips for the Universal Mini Account
- 5 pips for the Universal Standard Account
- 9 pips for the Universal Advanced Account
- 6 pips for the ECN Standard and Advanced Account
Customer support at ORBEX is provided on a 24/5 basis and is also available in several major languages such as Arabic, Bengali, Bulgarian, Chinese, English, German, Greek, Russian, Spanish and Urdu. To get in touch with the support team, traders can contact them using email, live chat, call back request or through the telephone.
- Competitive Spreads
- CYSEC Regulated Broker
- Excellent Customer Support
- Multi Platform Trading
- Multi-Lingual Support
- Multiple Trading account to choose from
- Lack of promotional offers
- Minimum deposit requirement could still be lower
- No localized telephone support
- No other type of trading platform except the MT4
After a thorough review, ORBEX has indeed shown that it is deserving of the reputation that it has earned over the last few years as a high quality broker. The fact that they are also regulated by the Cyprus Securities Exchange Commission helps to ease the minds of traders about the safety of the trading funds deposited with ORBEX. In our opinion, ORBEX is worth considering for any reader who is looking for a reliable broker to sign up with.
|Number Of Employees||200|
Trading Account Options
Orbex Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Supported Trading Platforms||MT4|
|Has VPS Services||Yes|
- 5.0Unexpected such a great exprienceAlexander
- 5.0Safe and reliable brokerKeny
- 4.0Tight fixed spreads for majorsyouness935
- 4.0Scalping And Hedging PermittedAlfie Bruce
- 4.0EU Regulated BrokerDaniel Jennings