Company Overview
Founded in Cyprus in 2011, Orbex is a global presence in forex and CFD brokerage. Its areas of expertise encompass client education, trade platforms advanced at the beginner level, and its competitive trading conditions. Trading items at Orbex cover forex, commodities, all major and minor indices, and cryptocurrencies, enabling traders of any skill level to find something to trade.
Pros and Cons
Pros
- Orbex has many comprehensive research and educational materials
- Average Execution speed is 0.03 seconds
- Scalping and hedging are permitted
- Several account types are offered
- Orbex has an award-winning track record
Cons
- Orbex does not offer its services to residents of certain jurisdictions such as the USA, Iran, North Korea, Indonesia, Mauritius, and Romania
- The inactivity fees are somewhat high
Safety
Orbex is regulated by the Cyprus Securities and Exchange Commission (CySEC); therefore, client funds are in compliance with international financial standards. They also maintain separate accounts with leading commercial banks for placing client funds, which adds another layer of protection. This top broker provides negative balance protection in the event of dramatic price volatility on the financial markets.
Trade Instruments
Orbex offers some of the best markets out there:
- Forex: Trade major, minor, and exotic currency pairings.
- Commodities: Gold, silver, and crude oil provide the major commodities along with energy including crude oil.
- Indices: Among the indices are S&P 500, NASDAQ, and FTSE 100.
- Cryptocurrencies: Hot digital assets are Bitcoin, Ethereum, and Ripple.
Types of Accounts
Starter
| Minimum deposit | 0 |
|---|---|
| Commission | 1.5 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 100 |
| Stop-out level | 20 |
Premium
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 100 |
| Stop-out level | 20 |
Ultimate
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 100 |
| Stop-out level | 20 |
Charges
Orbex bears transparency in its fee structure:
- Trading Charge: Starts at zero pip spread for IS or Ultimate, with a $5 commission charge per lot. The fixed and starter account has commission-free trade, with slightly bigger spreads.
- Non-Trading Fees: No deposit fees; however, one may have to pay withdrawal fees, depending on the method of payment. After six months of inactivity, fees kick in for non-use of the account.
Where to Trade
Orbex offers this list, which encompasses a vast selection of tradable items. Platforms for trading are mainly MetaTrader:
- MetaTrader 4 (MT4): Perfect for forex, these have advanced charting options and auto trading characteristics.
- MetaTrader 5 (MT5): Passage to even more features and tools besides market depth and multi-trading as the array of MT4 features is already advanced.
Desktop versions include these platforms as well as web and mobile versions to facilitate accessibility.
Customer Service
They have professional customer service that operates:
- Study channel
- Live Chat for assistance whenever your market hours are taking place during the week
- E-mail communications: replied within 24 hours.
- Telephone Communication: Local numbers for local country settings.
The support is across 24/5 as they are always open and communicate with you based on your time zone.
| Website | |
|---|---|
| Address | Ground Floor, The Catalyst, Silicon Avenue, 40, Cybercity, 72201 Ebène, Republic of Mauritius State of Kuwait, Al-Tejaria Tower, Office 231, Floor 23 Al-Soor Street, Sharq, Kuwait Amman – Jordan, Second Floor, Housing Bank Complex, Queen Noor Str. Amman Jordan |
| Headquarters | Mauritius |
| Telephone | Republic of Mauritius: 442035198170 Kuwait: 965 22968151/ 965 22968153 Queen Noor Str. Amman Jordan: 962 6 5622268 |
| Customer support | 24/5 - phone, email, live chat |
| Partner programs | Yes |
Account Creation
Opening an account with Orbex is straightforward:
- Customer online registration form with all personal and financial details filled.
- Upload all appropriate documents for verifying who you are and where you live.
- Deposit from the respective payment method is allowable after the account has been opened.
Deposits and Withdrawal
Orbex allows the usage of numerous deposit and withdrawal methods:
- Methods of payment: You can utilize bank or debit cards or e-wallets like Skrill, Neteller.
- Processing Time: Deposits have a substantial speed to nearly instant for most payment methods. For withdrawal, on the other hand, it is not so fast and generally takes 1-3 business days.
- Costs: No charges are incurred for deposit processing. But withdrawal and refilling fees accompany some payment types.
FAQ
Is Orbex a regulated broker?
Yes, Orbex is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance with international financial standards.
Which trading platforms are available?
Orbex offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for desktop, web, and mobile devices.
What is the minimum required deposit for setting up an account?
The minimum deposit starts at $200 for the Starter account and varies depending on the account type.
What is the highest leverage offered?
Orbex provides leverage of up to 1:500 for forex trading, though the leverage may vary based on the account type and regulatory requirements.
Does Orbex charge any fees for deposits or withdrawals?
Orbex does not charge deposit fees; however, withdrawal fees may apply depending on the payment method used.
Is there customer support available?
Yes, Orbex offers 24/5 customer support via live chat, email, and phone, providing assistance during market hours.