the official logo of Orbex

Orbex review – How good is the online broker? – Real test for new investors

REVIEW:
REGULATION:
Live account from:
Assets available:
SPREADS FROM:
4.8 out of 5 stars (4.8 / 5)
CySEC, ICF, FSC, MFSC
$200
300+
0.0 pips

Are you looking for a reliable broker who you can trust with your investments? Are you new to the trading scene and need a partner to help you learn and thrive in the trading scene? Do you prefer not to waste your time scouring the internet for a broker who fits your standards?

In this review, you will read about all the tradeable assets in Orbex’s platform. You will also get to know the company and all the services they offer. All the information you will find here will help you reach a decision on whether Orbex is the best broker for you.

The official website of Orbex
The official website of Orbex

(Risk warning: Your capital can be at risk)

What is Orbex? – The company presented

Orbex is an online multi-asset broker that was founded in the year 2010. This company is also known as Orbex Global Limited and Orbex Limited. They have won more than a handful of rewards, including the Best Forex Broker Europe, West Asia, and North Africa 2020.

Orbex Limited offers its services to traders from Europe, and they’re stationed in Cyprus and Limassol. Orbex Global Limited, on the other hand, stationed its main office in Mauritius, dealing with clients outside of the EU.

Here is a quick overview of the broker:

 Rating: 
(4.8 / 5)
⚖️ Regulation:
Regulated by multiple platforms
🏛 Founded:
2015
💻 Trading platforms: 
MT4, Fix API
💰 Minimum deposit:
From $200 for the starter account
💸 Withdrawal limit: 
No limit
⌨️ Demo account: 
Free and unlimited
🕌 Islamic account:
Available
📊 Assets:
Forex, cryptocurrencies, stocks, indices, commodities
💳 Payment methods:
Visa, Mastercard, Skrill, Neteller, Perfect Money, Union Pay, Fasa Pay, Crypto, Bank Wire and many more
🧮 Fees:
Low spreads from 0.0 pips
📞 Support:
24/7, live chat, phone and email
🌎 Languages:
More than 2

(Risk warning: Your capital can be at risk)

Is Orbex regulated?

Orbex regulation

Orbex Limited holds a license issued by CySEC or the Cyprus Securities and Exchange Commission. They are also a member of the Cyprus Investor Compensation Fund or ICF, and the EU Markets in Financial Instruments Directive or MiFID II.

Their Cypriot Investor Compensation Fund exists to protect their clients with a fund of € 20,000 in case something happens to the company.

Orbex Global Ltd is regulated and holds a license issued by the FSC or Mauritius Financial Services Commissions.

To ensure transparency and maximum safety of their client’s funds, they segregate this from the company’s funds. This gives clients the peace that Orbex won’t use their money for their own purpose.

Here are some facts about their security:

SSL:
Yes
Data protection:
Yes
2-factor authentication:
Yes
Regulated payment methods:
Yes, available
Negative balance protection:
Yes

(Risk warning: Your capital can be at risk)

Trading conditions on Orbex

The spreads for all their assets depend on the account type that you are using. Starter accounts can have a minimum spread of 1.5 pips, while Ultimate and Premium accounts start at 0 pips.

Like most brokers, Orbex charges swaps when you hold positions or keep them open overnight. The leverage is set to 1:30 by default upon opening an online trading account. However, you may change your leverage by contacting Orbex via email.

Products offered by Orbex

Foreign exchange

Details about the forex offers on Orbex
Details about the forex offers on Orbex

Orbex is a broker that specializes in foreign exchange. They offer more than 40 currency pairs, including the seven significant pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, and NZD/USD.

Orbex clients can trade up to 50 lots with a contract size of 100,000 in the currency of the forex pair being traded. The forex market is open from Monday 1:02 AM to Friday 11:57 PM server time.

Precious metals

Details about the metal offers on Orbex
Details about the metal offers on Orbex

Orbex offers four precious metals for you to trade and invest in. These are gold, silver, palladium, and platinum.

For gold, each contract size is 100 oz with a total lot of 20 per trade. The average spread for gold is nine but could go as low as 0. The spreads for silver could be as low as 10, with an average of 50. Its contract size is 5000 oz with a total lot of 10 per trade.

Palladium has a contract size of 100 oz with a maximum of 20 lots per trade. The average spread for this metal is 60, with a minimum spread of 45.Trading platinum entitles you to an average spread of 10. However, this could dip down to 0.7 spreads. Its contract size is 100 oz, and you can trade up to 20 lots.

The margin needed for gold and silver is 1%, while palladium and platinum require 2%. Trading hours are from 1:02 AM until 11:57 PM on weekdays.

Energies

Details about the energy offers on Orbex
Details about the energy offers on Orbex

Natural Gas, Brent Oil, and WTI Oil are available on Orbex’s platform. It’s important to note that the date and time may change without prior notice. Its stop/limit order levels also depend on market conditions. Also, remember that these products have expiry dates and are usually refreshed every quarter. 

Cash indices

Details about the cash indices offered on Orbex
Details about the cash indices offered on Orbex

Investing in Cash Indices gives traders exposure to a particular stock market index. With Orbex, you can trade five different indices.

These are Dow Jones Industrial Average (US30), Nasdaq Composite Index (NAS 100), DAX Performance-Index (Germany 30), FTSE 100 Index (UK 100), and S&P 500 Index (SPX500). 

The contract size for all these is 10, and you can trade up to 20 lots. The margin requirement is 1%, and the average spread ranges from 0.8 to 2.3 depending on the index traded. The market for all these indices opens simultaneously, but keep in mind that they vary in closing time. 

Stocks as CFDs

Details about the stocks offered on Orbex
Details about the stocks offered on Orbex

More than 60 of the most traded US and EU stocks will be found. You will find familiar names like Apple, Boeing, Chevron, General Motors, Pfizer, and Twitter on Orbex’s trading platforms. The currency denominations are in USD and EUR. As CFDs, these products are affected by swap fees and corporate actions. 

Each trade can be as low as one share and as high as 1000 shares, with a margin requirement of 20% and a commission rate of 0.05%. For US-listed stocks, trading starts at 4:30 PM and ends at 11:00 PM. The market is open from 10:00 AM to 6:30 PM for EU-listed stocks.

Refer to their website for the complete tradeable US and EU stocks list.

Futures indices

Details about the futures indices offered on Orbex
Details about the futures indices offered on Orbex

The future indices that Orbex offers are the same as the cash indices found in their platform. As futures contracts, they have quarterly contract months. Contract size, maximum lots per trade, margin trading, and average spreads are the same as the trading conditions for cash indices.

See all details about their trading offers here:

Leverage:
Up to 1:500
Execution time
1 ms (no delays)
Assets offered:
300+
Forex:
Yes
Commodities:
Yes
Cryptocurrencies:
Yes
Binary options:
No
Event contracts:
No
Futures:
Yes
Bonds:
No
Mutual funds:
No
Stocks:
Yes
Hedge funds:
No

(Risk warning: Your capital can be at risk)

Trading platform

Smartphone with Orbix App and Orbix credit card

Orbex utilizes the MetaTrader 4 trading platform. Clients can also use the MT4 MultiTerminal or their mobile trading application.

MetaTrader 4

This award-winning trading platform has captured the hearts of both beginner and professional traders. It is no surprise that this is Orbex’s platform of choice. It has a user-friendly interface that enables traders to navigate their way around the client quickly. It also features a 24/7 built-in live chat service that supports more than 30 languages.

You can also create your own trading bots and customize your charts and tools to suit your trading style. Through ECN trading, you can reliably expect MT4 to execute your orders quickly, securely, and accurately.

The MT4 platform also has a feature that shows traders their performance through profit and loss and trading analytics. This is available on both Windows and Mac desktops.

MetaTrader 4 Multi terminal

The MetaTrader 4 MultiTerminal allows clients to manage multiple accounts on one platform. It has the same tools and features as the base MT4 platform.

Mobile platform

This version of the MetaTrader 4 platform can fit in your pocket, and you can take it everywhere and anywhere you go. This allows clients to trade on a more compact and portable device. All the essential features can be found in this application.

You can download this through the Google Play Store for Android devices and Apple Store for IOS devices.

Learn to trade with Orbex

Advantages of Orbex

Orbex has a wide range of vital educational trading materials. They have guides, articles, and webinars that cater to both beginners and well-seasoned, traders.

Orbex occasionally hosts webinars that tackle a wide range of trading topics on their social media pages. In case you miss a session, you can watch a recorded version of it on their website. You can also sign up for their newsletter so you will be informed when they plan to host another webinar.

Registered users are given access to free EBooks that teach money management, risk management, point, and figure chart tutorial, and many more.

For first-time users of the MT4 platform, Orbex has multiple tutorial videos on navigating, customizing, and setting up this software. There are also tutorials on the different trading strategies, the different terms, and their definitions.

How to open an Orbex account

You can easily register for a live Orbex account in five simple steps. First, fill in the registration form found on their website. Next, a verification email will be sent to you, and you will have to click on it to proceed to the next step.

After that, create a password for your MyOrbex are and upload the necessary documents. Once you’ve done that, add funds to your Orbex Wallet. Lastly, you’ll need to log in using the trading account login details that Orbex will send you, and you can start trading.

You will find a unique guide on learning to trade forex on their website. Here you will learn the basics like how leverage works, how to manage risk, and other vital actions when trading this particular asset.

(Risk warning: Your capital can be at risk)

Different types of accounts on Orbex

Orbex offers three different types of accounts for beginners and well-seasoned traders. All three of these accounts have a stop-out level of 20% with an execution type of NDD or No Dealing Desk.

Demo account

How to open a demo account on Orbex
How to open a demo account on Orbex

Demo accounts are ideal for beginners or traders who are not all that familiar with the MetaTrader 4 platform. Orbex’s demo account gives you 30 days to practice trading in real-time with a virtual balance of up to $5,000,000. This comes with all the platform features to ensure that you’re more than prepared before you start trading on a live account.

Starter account ($200)

Orbex’s starter account is excellent for newbies and retail traders. With no commissions, an average spread of 1.5 USD/EUR, and a minimum investment of $200, you will have access to monthly webinars, Orbex’s trading central, basic trading educational materials, regular trading sessions, free signals, and free VPS. Remember that your initial deposit should be at least $500 to avail of the free VPS feature.

Premium account ($5,000)

Premium account holders will be charged an $8 commission fee per round turn lot with spreads starting from 0.00 pip. With this account, you will get exclusive monthly webinars and live trade, free premium signals, free VPS, access to their advanced educational materials, and one-on-one trading sessions with a professional.

Ultimate account ($25,000)

The ultimate account might be ideal for traders with higher capital. Spreads start at 0.00 pip; the commission fee is $5 per round turn lot. Just like the premium account, you’ll be invited to exclusive webinars with live trading and gain access to their advanced educational materials. You also have the perk of having one on one trading sessions, free ultimate signals, and free VPS.

Negative balance protection

Orbex Global Limited Mauritius has a default negative balance protection feature to ensure that their clients won’t have a balance below zero. However, this extra line of defense is not available for accounts opened in Orbex Limited EU.

Adding funds to your Orbex account

You have a lot of methods to choose from when it comes to adding funds to your account. You can use Visa, MasterCard, WebMoney, Skrill, Neteller, or Fasapay. You can also choose to deposit via bank wire transfer.

You can deposit any currency, but it is recommended that you use the same currency as your account to avoid any problems.

It’s important to note that if you deposit using e-wallets like Skrill, Neteller, WebMoney, or Fasapay, the funds will be transferred within 24 hours. Adding funds via wire transfer or card may take three to five business days.

(Risk warning: Your capital can be at risk)

Withdrawing funds from your Orbex account

MT4 platform with Orbex

You can withdraw your funds via wire transfer, Visa or MasterCard credit card, Fasapay, Neteller, Skrill, or WebMoney. Cards and wire transfer usually takes three to five business days, and withdrawals through e-wallet services will be processed within 24 hours.

Orbex does not charge a withdrawal fee.

Customer support

Orbex’s customer support is available all day, every weekday, and they have different emails for different concerns. You can contact them via email or phone. You can also send your queries through their built-in chat system on their website.

Their website and chat system support many languages to make it easier for clients whose native language isn’t English. Among these languages are Arabic, Bengali, Bulgarian, Chinese, French, German, Hungarian, Indonesian, Italian, Malaysian, Polish, Russian, Spanish, Turkish, Urdu, and Vietnamese.

See all details about their customer support here:

Supported languages:
More than 2
Live-Chat
24/7
Email:
Phone support:
+442035198140

Accepted and forbidden countries

Accepted and forbidden countries

Below is a complete list of all the accepted countries in Orbex.

Afghanistan
Aland Islands
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bonaire
Bosnia and Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean
Brunei Darussalam
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Island
Central African Republic
Chad
Chile
China
Christmas Island
Cocos Islands
Colombia
Comoros
Congo
Cook Islands
Costa Rica
Cote d’Ivoire
Croatia
Cuba
Curacao
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Falkland Islands
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern Territories
Gabon
Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guinea-Bissau
Guyana
Hiti
Heard Island
McDonald Island
Vatican City State
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
Korea
Kuwait
Kyrgyzstan
Kuwait
Lao People’s Democratic Republic
Latvia
Lebanon
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macao
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Moldova
Monaco
Mongolia
Montenegro
Montserrat
Morocco
Mozambique
Myanmar
Namibia
Naurau
Netherlands
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Marina Islands
Norway
Oman
Pakistan
Palau
Palestine
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Russain Federation
Rwanda
Saint-Barthelemy
Saint Helena
Saint Kitts and Nevis
Saint Lucia
Saint Martin
Saint Pierre and Miquelon
Saint Vincent and the Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Sint Maarten
Slovakia
Slovnia
Solomon Islands
Somalia
South Africa
South Georgia
South Sandwich Islands
South Sudan
Spain
Sri Lanka
Sudan
Suriname
Svalbard and Jan Mayen
Swaziland
Sweden
Switzerland
Syrian Arab Republic
Taiwan, Province of China
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Turks and Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United States of America
United States of Minor Outlying Islands
Uruguay
Uzbekistan
Vanuatu
Venezuela
Viet Nam
Virgin Islands, British
Virgin Islands, US
Wallis and Futuna
Western Sahara
Yemen
Zambia
Zimbabwe
 
 

(Risk warning: Your capital can be at risk)

Special offers

Virtual private server

Orbex clients can enjoy trading on an accessible virtual private server. With this feature, you can have your assigned Expert Advisor trade for you 24 hours a day, every weekday. Execution speeds are faster, too. This ensures accurate trades.

You must fill out the form on their website to sign up for this. They will ask for your full name, email address, country of residence, phone number, and Orbex account number.

Trading central

This special offer is a plug-in for the MetaTrader 4 platform. This analyzes specific assets, specifically the major currency pairs, Dow Jones, gold, and Crude Oil. With analytics and market reports given by Orbex’s top analyst, you are given a valuable second opinion on your trading ideas.

Orbex web TV

Orbex’s research team uploads market updates and analyses almost daily on their YouTube channel. They cover various topics regarding forex, indices, commodities, and stocks.

Articles

Orbex publishes articles on technical and fundamental analysis for the assets they offer. These are updated daily to ensure that all their clients stay current on market trends. This will help traders adjust their strategy for maximum gain.

Orbex strategizer

Clients can utilize Orbex’s strategy-building tool. This is easier than programming your own trading bot. You can set your entry and exit points without needing to learn how to code. It also allows you to customize your rules, whether simple or complex.

To enjoy this tool, all you have to do is create an Orbex account, log into their Strategizer, input and customize your strategy, connect it to your MetaTrader 4 platform, sit back, relax, and watch it do your work for you.

Advantages and disadvantages

Why traders choose Orbex
Why traders choose Orbex

Unlike most brokers, Orbex does not offer cryptocurrencies and options trading. Considering how popular cryptocurrencies, like Bitcoin and Litecoin, have become, Orbex clients are missing out on this tremendous opportunity to trade this well-known asset. Traders who plan on investing in these assets are better off with a different broker.

They lack a lot of other products as well. They don’t offer commodities, their precious metals are limited, and they only have 66 stocks to trade.

When it comes to their educational materials, they’re outdated. Their EBooks date back to 2014, and their last webinar occurred last year. You also need to sign up for their website to access these materials.

Most traders use the updated MetaTrader 5 platform for ease of use. Orbex still uses the outdated MetaTrader 4 platform.

The minimum deposit difference between their three accounts is high. From $200 for the Standard account, it jumps to $5,000. Huge numbers next to a dollar sign may seem threatening and discouraging to some clients or newbie traders.

Despite their flaws, Orbex is still considered one of the best forex brokers on the market. The daily updates and market analysis videos prove that they want to help their clients as much as possible. Their customer representatives are prompt to answer and are very knowledgeable as well. Their website is very well organized, and you can find all the necessary information.

Conclusion – Orbex is an award-winning broker

Orbex, without a doubt, is a highly competitive forex broker. All the awards they’ve won speak for themselves. They may lack features, but they still provide one of the best services you can get from the typical forex trading broker.

(Risk warning: Your capital can be at risk)

Orbex Review

Overview and test of Orbex

Trusted Broker Reviews

the official logo of Orbex
Regulation
Platform
Trading offers
Customer support
Deposit
Withdrawal

Summary

Orbex is a good forex broker that is regulated by several authorities and places great emphasis on security.

4.8

Orbex is one of the best performing brokers with 4.8 out of 5 possible stars. Trading conditions and security are good. The broker offers a good platform for trading financial products. 4.8 out of 5 stars (4.8 / 5)

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Trusted Broker Reviews

Experienced and professional traders since 2013

FAQ – The most asked questions about Orbex: 

How will I know if my account has been verified?

When you’re logged into your MyOrbex area, you will see your account’s status at the center top of the client.

Will I be able to deposit funds to my account if my current balance is below zero?

Orbex still permits you to add funds even if you have a negative balance on your account. As long as you have no open trades, Orbex will zero out your account before they add the amount you deposited.

How do I add funds to my demo account?

To add more funds to your demo account, you will have to email Orbex’s back office ([email protected]), and they will take care of the rest. Keep in mind that demo accounts expire after 30 days.

Is there a fee for deposing funds in my account?

Orbex will shoulder any fees that you incur from e-payment systems. However, if your bank has any deposit fee for bank wire transfers, you will shoulder that.

Does Orbex have an Islamic account?

Orbex offers swap-free accounts for their Islamic clients. To create an account, you must contact them via email, and they will guide you through signing up.

Can I deposit funds in Orbex from another broker?

Orbex is a broker that holds multiple assets for trading and has won multiple rewards. People can also transfer their funds from another broker to their Orbex account. But if they wish to do so, they first need to contact the broker from where the funds need to be transferred and check if they would allow and process such a transfer. You cannot send your funds to other brokers through Orbex, but it does accept any transfers that come from other brokers.

Is Orbex beginner friendly?

Yes, Orbex is quite beginner-friendly as it allows you to practice and gain trading experience on a demo account before moving onto a live account. A demo account helps beginners in many ways who have yet to learn the MetaTrader 4 platform. Through the demo account of Orbex, you get 30 days to perfect your trading with a virtual amount of 5 million dollars. It helps new users prepare for trading before moving on to the live account.

What are the types of accounts in Orbex?

There are three types of accounts in Orbex: Starter, Premium, and Ultimate, with a minimum deposit of 200 dollars, 5000 dollars, and 25000 dollars, respectively.

Last Updated on February 27, 2023 by Arkady Müller