Orbex Review

About Orbex

Orbex is an award-winning global forex broker. This review explores the pros and cons of trading with Orbex, including its MT4 platform, account types and minimum deposit. Make an informed decision before you open an account and login.

Orbex Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC). And Orbex Global Limited is regulated by the Mauritius Financial Services Commission (FSC). The broker provides access to currency pairs, CFDs on stocks, indices, energy resources, and precious metals. According to the Global Banking and Finance Review, Orbex is recognized as the best Forex broker in Europe and the Middle East by MENA in 2020.

Orbex Company Overview

Orbex was formed in 2010 and operates under two official entities: Orbex Limited & Orbex Global Limited. The headquarters in Limassol, Cyprus, providing services to European clients with a high quality of customer service. And favorable terms for professional traders, while the latter is based in Mauritius and operates outside of the EU, subject to local restrictions.

Orbex Commissions & Fees

Commissions

To educate, support and empower traders to make informed investment decisions

Orbex aims to consolidate its reputation as a trusted global brand that leverages the latest in financial technology. To provide a seamless, secure and transparent trading experience.

Fees

Orbex has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list that starts from 0.0 pips along with commissions charged at US Dollar 5 when using the Ultimate Account.

Orbex trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:

Traders should acknowledge that the amount of leverage that they qualify for will depend on the trading volume, leverage of 1:500 is available with volumes of 0-19.99 lots, 1:300 when trading 20-39.99 lots, and 1:100 when trading 40 lots or more.

More about Orbex fees

You can use Orbex without charge any deposit fees or withdrawal fees. Orbex charges an inactivity fee should the trading account be left inactive for a period of six consecutive months. The fee that will be charged in US Dollar 20 or currency equivalent per month until the account is deemed active or the account balance reaches zero.

Orbex Other Fees

Traders should know that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

Orbex offers the option of an Islamic account to traders who are of Muslim faith and who operate under Sharia Law.

Muslim traders who make use of this account option will be charged for storage fees per lot that depend on the financial instrument as well as the duration that the position is kept open with fees ranging from US Dollar 5 to US Dollar 70.

Orbex does not offer traders spread betting and therefore spread betting fees do not apply to this broker.

Is Orbex safe or scam?

No, Orbex is not a scam, it is a reliable broker with a good reputation that previously operated under CySEC and ESMA regulations.

Is Orbex legit?

Orbex is a fully licensed and regulated Investment Firm. Previously it operated under CySEC and ESMA regulations.

• The mentioned regulation is a transposition of MiFID European Law which operates under ESMA that contributes to safeguarding the stability of the European Union’s financial system and enhancing the protection of investors and financial market stability.
• For now, only FSC remains active, so we advise European clients double check in terms of availability and regulatory status in case interested.

FSC Mauritius is considered an offshore zone. Despite this fact, FSC has recently updated its policy and requires higher capitalization and standards for brokerage businesses.

See our conclusion on Orbex Reliability:

• Our Ranked Orbex Trust Score is 7 out 0f 10 for good reputation and service over the years. The point here is that International trading available via the offshore entity only. So all in all, together with the years Orbex operates and good reputation it makes things much better, thus the broker can be trusted.

Orbex Trading Platform

Orbex-MetaTrader 4

MetaTrader 4 (MT4) efficiently marries a user-friendly interface and design with a data-rich environment and advanced capabilities. Available in over 40 languages, the platform shows deep market history, supports automated trading through expert advisors (EAs) and boasts more than 50 technical indicators, 30 charting tools and nine timeframes.

MT4 WebTrader

MT4 also has a browser-based trading platform that can be used from any computer with an internet connection and access to the Orbex website. WebTrader requires no download and has many of the functionalities of the desktop platform. The platform supports one-click trading and offers 30 technical indicators, such as Elliott Wave patterns, nine timeframes and a range of charts, graphical tools and order options.

MT4 MultiTerminal

The MultiTerminal platform is geared towards account and fund managers. The platform allows access, monitoring and trading on several accounts from one place. Accounts can be grouped or managed separately and the platform contains its own internal communication system and automatically generates reports. Also, the full capability of MT4 carries over to the MultiTerminal system.

Both MT4 and MT4 MultiTerminal can be installed on Windows, Mac and Linux computers. The website contains download links for the software packages.

Education

Orbex has a well-equipped education centre with a range of free learning resources, as well as some that are limited to Premium and Ultimate account holders. There are several free ebooks, video training courses, a webinar series and online lessons. There is also Orbex Web TV, a video blog with daily and weekly technical reports, financial news, forecasts and research.

Final thoughts

Orbex is a trusted forex broker that shines thanks to its extensive product offering, excellent platform options and trading tools, and its selection of in-house and third-party market research.

That being said, pricing is not its strongest feature, and there is a general lack of video content for research and education. However, Orbex still delivers a great experience to forex traders of all experience levels.

FAQ

How to verify your profile?

Before submitting your Proof of Identification and Residential Proof documents, please make sure that they comply with the following requirements:

• Proof of Identification
• Proof of Residence

How to deposit for the first time?

•       Your Wallet Account currency VS your Trading Account currency
•       The amount deposited

Can I deposit funds while my account is still under verification?

When you apply for a new real account, while the account is under the verification process, you can still deposit funds in your Wallet Account.

Can I transfer funds between my accounts?

Yes, you can transfer any free margin between your trading accounts.