Orbex group includes 2 related companies.
Orbex CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Orbex MU - located in Mauritius, regulated by the Financial Services Commission (FSC).
Orbex is also registered and supervised by various local authorities on the territory of EU countries:
the FCA (UK), the Bafin (Germany), the CNMV (Spain), the CONSOB (Italy), the ACPR (France), the FI (Sweden), the Fin-FSA (Finland), the DFSA (Denmark), the PFSA (Poland), the AFM (Netherlands) and others.
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Orbex group accepts clients from all over the world, excluding USA and some countries from the OFAC list.
Forex broker offers the following underlying assets for trading.
|35+ Currency Pairs
|Based on major and minor world currencies.
|8 Indice Cash CFDs
|Based on baskets of different blue-chip stocks.
|4 Metal Spot CFDs
|Based on Gold, Silver, Platinum and Palladium.
|3 Energy Spot CFDs
|Based on Crude Oil (WTI, Brent) and Natural Gas.
Orbex is a forex broker based out of Cyprus and Mauritius that serves clients all around the world, with the usual exception of only the US and a few other countries.
The broker is fully regulated by the Mauritius Financial Services Commission (FSC), as well as by the Cyprus Securities and Exchange Commission (CySEC). As such, Orbes is compliant with ESMA regulations in the EU, which means that all EU-based traders will have their trading leverage limited to just 1:30. For other traders, however, Orbex provides leverage of up to 1:500.
The trading instruments offered by Orbex includes close to 40 of the most traded forex pairs, a selection of popular stock indices from around the world (currently the US, Germany, the UK, Hong Kong, Japan, and China), oil, natural gas, and the four precious metals gold, silver, platinum, palladium. Unfortunately, the broker does not offer trading in single stock CFDs and cryptocurrencies.
Once a new user has signed up with Orbex, he or she will get the chance to choose between four types of trading accounts:
– Fixed account, with fixed spreads and no commissions ($500 min deposit)
– Starter account, with variable spreads and no commissions ($200 min deposit)
– Premium account, with tight spreads and $8 commissions ($5,000 min deposit)
– Ultimate account, with tight spreads and $5 commission ($25,000 min deposit)
In addition to the account types mentioned above, Orbex also offers a swap-free account designed for Muslim traders, as well as a free demo account for those who want to practice some more before putting real money on the line.
With regards to funding methods, Orbex informs users that all trading accounts can be funded with either Visa, MasterCard, traditional bank wire transfers, or one of the popular e-wallet services Skrill, Neteller, WebMoney, Fasapay, K-net, or Klarna. We also very much appreciate the fact that all of these payment methods are processed free of charge by the broker, both when making deposits and withdrawals.
In terms of trading platforms, Orbex has chosen to rely entirely on the very well-known MetaTrader 4 (MT4) platform. As always, the platform is available in its traditional desktop version for Windows computers, as well as mobile apps for Apple and Android devices.
Orbex’s customer service is available in English 24 hours a day on trading days, and in Turkish during regular office hours in Turkey. In addition, the broker’s offices in Cyprus, Kuwait, and Jordan can also be contacted directly via local phone numbers with any questions. For non-urgent matters, it is of course also possible to contact the broker via email or live chat on its website.
All in all, we are of the impression Orbex is a solid choice as a forex & CFD broker. It is fully regulated, but still offers high trading leverage, which is a good selling point these days. Given the fact that Orbex relies on the MT4 platform, traders used to that platform will have no problems transitioning over to this broker.
One potential problem, however, is that neither stocks or cryptocurrencies are available for trading from this broker. While that may certainly be an issue for some traders, others are happy to trade other assets instead. Each individual trader will therefore ultimately have to make the choice for himself on whether or not Orbex is a suitable broker for them.
Orbex delete my profits, and even charge me fees that dont exist! After complaining they never reply!
The worst broker ever, be aware that they will scam you!