ORBEX Review

MIN. DEPOSIT $500
Up to 500:1
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ORBEX
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Overview

Company Information Orbex is a licensed Forex trading online broker property of Orbex LIMITED. The company was founded in 2009, and they launched their online platform in 2010. The company… more

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Details

BrokerORBEX
Website URLhttps://www.orbex.com/en/
Founded2010
HeadquartersLimassol, Cyprus
Support Number+357 25588855
Support Emailsupport@orbex.com
Support TypesPhone, Live Chat, E-mail, Call Back
LanguagesEnglish, Spanish, Bengali, Chinese, German, Polish, Vietnamese, Arabic, Persian, Japanese, Russian, Urdu, Indonesian, Italian
Minimum 1st Deposit$500
Minimum Trade Amount0.01 lots
Maximum Trade Amount50 lots
BonusRefer a friend
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationCyprus Securities and Exchange Commission (CySEC)
Account TypesUniversal Mini, Universal Standard, Universal Advanced, ECN Standard, ECN Advanced
Deposit MethodsVisa, MasterCard, Skrill, Neteller, WebMoney, Wire Transfer, FasaPay, K-net Payment Gateway
Withdrawal MethodsVisa, MasterCard, Skrill, Neteller, WebMoney, Wire Transfer, FasaPay, K-net Payment Gateway
Types of AssetsForex, Precious Metals, Energies, Soft Commodities, Cash Indices
Account CurrencyUSD, EUR, PLN, GBP
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

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Company Information

Orbex is a licensed Forex trading online broker property of Orbex LIMITED. The company was founded in 2009, and they launched their online platform in 2010. The company started its operations under the name AFBFx but later in 2013 changed its name to Orbex. The company rebranded its business in an attempt to establish itself as a top online broker in the Forex trading industry. The company’s headquarters are located in Limassol, Cyprus, but they’ve also opened a new office in Kuwait. Orbex is a fully regulated broker under the authorities of CySEC and the FSA. They don’t allow US traders on the platform, but otherwise, people from all over the world can make an account. Expanding its services to South East Asia has led to the achievement of winning a couple of awards. In 2011 the company was named “Best FX Arabic Broker”, in 2012 it became “Fastest Growing Broker in China” and recently in 2016 they were named “Best Analysis Provider” and “Best Education Provider.” Having so many awards in under six years of operations shows that Orbex does aim for the top with flawless trading services and a safe trading experience.

 

Trading Information

The people behind Orbex have made several account options that should please every beginner or expert trader. They have a total of five account options separated into two categories: Universal and ECN. The first Universal account is called “Universal Mini.” It’s suitable for beginner traders and has low minimum deposit requirement of $500. The spreads are fixed (1.9 pips on majors) and there is zero commission. Scalping and hedging are allowed, and there is a Free VPS Hosting option for $500+ account size. The volume step is set at 0.01 pips. Maximum leverage is at 1:500. Next is the “Universal Standard” account with a minimum deposit requirement of $3000. The spreads are fixed and go from 1.5 pips for majors. Volume step is at 0.1 lots, and leverage is set to 1:300. The “Universal Advanced” account has a minimum deposit of $50 000. Spreads are fixed and go from 0.9 pips for majors. Maximum leverage is set to 1:100. Otherwise, it’s pretty much the same as the Standard option. The “ECN Standard” account has a minimum deposit requirement of $500 and variable spreads starting as low as 0.6 pips. Stop out level is at 20% and there is a $10 commission. Leverage is at 1:300. “ECN Advanced” will set you back $25 000 for first deposit and is almost the same as the “ECN Standard.” Except for the lower maximum leverage of 1:100 and the lower commission of $6 they are identical. All account options include expert advisors, but only the Universal one have a swap-free version.

 

Trading Platforms

Now, it’s not a surprise that such a reputable online broker went with the most popular trading platform of them all. The Metatrader 4 has been around for years and is still recognized as the best option for the novice or professional traders. It has more than 250 trading instruments and includes the best trading tools and features. Trading from charts, trading from signals, automated trading, one-click trading and much more. It’s suitable for every device thanks to the Android and Apple store applications. Maybe the only flaw with it is that online brokers don’t always provide a WebTrader version of it, and it will always need downloads and installation. However, the people from Orbex have made a Multi-terminal version of the MT4 where you can manage several accounts simultaneously. The newest addition to their platform variety is the DeltaFlow trading platform for institutional and professional clients. It offers faster trading with large volumes and direct access to liquidity. It also has a risk management system and regulatory support.

 

Security and Customer Services

Orbex has already proven itself as a distinguished award winning company and the security measures they’ve taken demonstrate their efforts. A secure SSL encryption is installed all over their website which ensures that all personal data is protected. Customer support is also top of the industry and has a 24/5 coverage. There are plenty of ways to contact the client support including several phone numbers, a request a call back option, emails, faxes and postal addresses. The “Live Chat” option is very welcomed and one of the most used contact methods. You can also get in touch with the company’s representatives at their social media profiles at Facebook, Google+, Twitter and Linkedin. There is a vast selection of educational materials including webinars, eBooks, tutorials trading tips and much more. The website is translated into 14 languages which are quite nice.

 

Deposits and Withdraws

Funding your Orbex account is an easy task, and there are plenty of deposit methods available. There are no transfer fees whatsoever and processing times are relatively quick. Most of the methods take only two hours for the money to be transferred. For withdrawals, you can use the same approach you used for the deposit. You’ll have to fill out a withdrawal order and then wait for it to be processed. Again, processing times are relatively quick with some methods taking up to 24 hours and others up to three to five business days. There are no withdrawal charges from the broker, but intermediary banking fees may occur during a Bank Transfer.

 

Deposit Bonus and Loyalty Programs

At the time of writing this review, there are no current contests or bonus offers except for their “Refer a Friend” promotion. You can get $100 for every client you refer to the platform and if they succeed at trading ten standard lots. You can refer up to 10 friends total, and you can monitor their progress at all times. Once they reach the trading goal the funds will be automatically transferred to your Orbex account.

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