broker

Orbex Review 2022

Updated:
4.2
Trust
4.1
Fees
4.1
Platforms and Tools
4.4
Customer Support
3.3
Tradable Instruments
4.1
Account Types and Terms
4.9
Deposit and Withdrawal
4.9
Research
4.5
Education
5.0

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please note: This is a review of a Starter Orbex account opened with Orbex Global Limited, one of the two entities operated by Orbex Group Limited. We evaluated the usability of the entity’s website, the desktop version of the Orbex MetaTrader 4 (MT4) platform, and its mobile app version.

Data was collected between the 13th and 15th of June.

The Big Picture

Orbex is a derivatives broker that has operated for over a decade, affording retail and professional traders a wide range of different account types. It has a fair amount of tradable instruments and a rich and highly informative collection of research and educational materials. Orbex Global Ltd is licensed and headquartered in Mauritius, with offices in Kuwait, and Jordan.

The broker has competitive trading fees, though its non-trading costs are above the industry average. We also found out that the broker’s multiple licences to provide financial services entail varying levels of protection. One licence is issued by a top-tier regulator complying with the strictest financial norms, while the other by an offshore entity entailing much looser regulatory oversight.

With its probing market breakdowns and extensive educational materials, beginner traders may benefit greatly from Orbex’s rich collection of supporting materials. Seasoned traders, in turn, may benefit from its ultra-fast order execution, over 300 instruments from different asset classes, and low to medium spreads.

Orbex Key Takeaways for 2022

  • We evaluated Orbex across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
  • Orbex scored very high in the Account Types, Deposit and Withdrawal, Research, and Education categories. Traders with different styles and preferences may choose from several different account types depending on whether they like to hedge, scalp, day trade, or implement a hybrid system.
  • The broker has a wide variety of articles, videos, webinars, and technical and fundamental analyses, all of which offer traders a comprehensive insight into the market from multiple angles.
  • It scored average in the Trust, Fees, Instruments, and Platform categories. Orbex’s high non-trading costs and looser overseas regulations prevented the broker from earning higher marks in the first two categories.
  • Orbex utilises the renowned MetaTrader 4 (MT4) platform. Despite its practicality and popularity, however, some traders find it somewhat cumbersome.
  • The broker received its lowest mark in the Customer Support category.
  • With its multiple trading features, probing research, and educational content, we found Orbex equally suitable for beginners and advanced traders.

Who Is Orbex For?

Orbex is best suited to cater to the needs of newbie retail traders. With its extensive collection of educational videos, informative articles, quizzes and webinars, beginners can take advantage of the wealth of information to develop a systematic understanding of the basics of trading.

Orbex also allows traders to implement unconventional strategies like hedging and scalping, meaning that traders wanting to learn more about those can do so on the broker’s platform.

Orbex’s Pros and Cons

Pros Cons
  • Has a rich collection of research and educational materials
  • Multiple account types
  • Allows scalping and hedging
  • Offshore licensing providing lower protection.
  • High inactivity fees
  • Answers provided by customer support are partly insufficient.

 

broker

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

 

About the Author

Plamen Stoyanov
Personal Name: Plamen Stoyanov Author with FX Empire since March 2022 Education and Work Information Education: BA in Economy and International Relations
Read More

How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
Orbex Main Features
☑️
Regulations
CySEC (Cyprus), FSC (Mauritius)
🗺
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Bengali, Finnish, Greek, Vietnamese, Malaysian, Bulgarian, Urdu, Indonesian, Polish, Hungarian, Turkish, Italian
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
💵
Min Deposit
$100
💹
Max Leverage
1:30 (CySEC), 1:3500 (FSC)
🖥
Trading Desk Type
No dealing desk
See More
Check if...
unknownOrbex accepts clients from your country:
Choose your country:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Orbex Full Review

Trust

4.1
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

See More

Orbex is authorised by regulators entailing varying degrees of protection, which is why the broker scored average in the Trust category. We also found some minor issues with its fees and website transparency, further affecting Orbex’s final mark.

Orbex Regulations

In our reviews, we examine the licences and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licences by various regulatory bodies on a three-tier system, where tier-1 licencing indicates the highest level of regulation.

This is what we found concerning Orbex’s company structure and the licences and regulations of its two entities:

  • Orbex Group Limited is the holding company of Orbex Global Limited, which is affiliated with Orbex Limited. Orbex.com is owned by Orbex Group Limited.
  • Orbex Global Limited is authorised and regulated by the Mauritius Financial Services Commission “FSC”. The FSC is ranked as a tier-3 regulator on our system.
  • Orbex Limited is licenced by the Cyprus Securities and Exchange Commission (CySEC) with licence number 124/10 under the Markets in Financial Instruments Directive (MiFID II). CySEC is a tier-1 regulator.
Orbex Global Limited’s licencing information on fscmauritius.org

We have summarised the most essential aspects of Orbex’s two entities in terms of regulation and safety in the table below:

Entity Features Orbex Global Limited Orbex Limited
Country/Region Quatre Bornes, Mauritius Limassol, Cyprus
Regulation FSC CySEC
Segregated Funds Yes Yes
Negative Balance Protection Yes Yes
Compensation Scheme No Yes
Max. Leverage 1:500 1:500

Why Is It Important To Know Where Your Broker Is Regulated?

In order to provide derivatives trading services to international clients, brokers need to be authorised by the appropriate regulatory bodies. Traders need to be vigilant because having a licence alone does not automatically mean that their preferred broker is allowed to operate in their region. Moreover, traders should remember that offshore regulators typically entail somewhat looser oversight.

Here is what traders need to be looking for in a trustworthy broker:

  • Segregation of client funds. In order to negate the risk of accounting errors, brokers are required to keep their clients’ funds in separate accounts from their corporate banking accounts. Both entities of Orbex ensure segregation of client funds.
  • Negative balance protection. Retail traders with both entities are liable for negative balance protection, meaning that their losses cannot exceed their initial investments.
  • Compensation scheme. In the unlikely event of the broker becoming insolvent, a compensation scheme protects traders from the credit risk of the broker. By virtue of operating within MiFID II, Orbex Limited is also a member of the Investor Compensation Fund (ICF). Under the ICF, clients of the entity may be liable for compensation of up to 20,000 euros. Orbex Global Limited does not have a client compensation scheme.
  • Maximum leverage. Leveraged products like derivatives are risky because the underlying leverage increases a trader’s total market exposure. The profits generated by winning trades and losses incurred by failed trades are thus multiplied. That is why most regulators cap the maximum leverage offered by brokers. Professional traders with Orbex Limited may be given maximum leverage of up to 1:500, provided they meet certain criteria. In contrast, retail traders may obtain a 1:500 leverage with Orbex Global Limited right away. This makes the latter somewhat riskier.

Is Orbex Safe To Trade With?

Orbex’s two entities have varying degrees of protection. In terms of licencing, Orbex Limited is safer because it is authorised by a tier-1 regulator (CySEC). This means lower leverage, leaving traders less exposed to adverse market fluctuations and participation in the Investor Compensation Fund. Orbex Global Limited, in contrast, is licenced by an offshore entity, signifying much looser regulation.

Stability And Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available.

Orbex Global was registered in 2011 and has opened offices in Kuwait and Jordan. The entity also employs over 100 persons. In terms of clarity, we found the broker to have a very high general transparency. However, there are certain issues concerning its trading costs.

We found that Orbex Global’s information on the website concerning its fees is not fully clear. In one place, it says that the Starter Account involves commission-free trading. At the same time, in another, it is stated that there is a 0.16 per cent commission for trading U.S. shares and a 0.5 per cent commission on cryptocurrencies. This may confuse some potential clients, especially traders with little to no experience who do not know how to calculate their trading costs.

On the other hand, Orbex can be quite transparent regarding its technical, fundamental analyses and market breakdowns. An entire section of the website is dedicated to the team of analysts who analyse markets for Orbex, so traders can check out their profiles. This is crucially important for the trustworthiness of Orbex’s research content.

In summary, our findings indicate that Orbex can be regarded as having a good level of trust and stability due to the following factors:

  • One of its entities is authorised by a top-tier regulator.
  • The legal information on the website, for the most part, is clear and concise.
  • Has negative balance protection and segregated client funds.

Fees

4.1
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

See More

Orbex scored average in this category. The spreads and swaps on a Starter account are moderate to high compared to the broader industry, while most instruments are subject to commission-free trading. And while Orbex does not charge anything for deposits and withdrawals, its inactivity fee for dormant accounts exceeds the industry average.

Orbex’s spreads vary greatly on instruments from different asset classes. This type of trading cost concerns retail CFD traders most directly, meaning that the competitiveness of Orbex’s fees depends greatly on the preferred trading instruments.

Orbex Trading Fees

Orbex Spreads

We tested the spreads on an Orbex Starter Account during the London open at 8am UK time and just after the U.S. open at 2.45pm UK time. These are the most actively traded times. The test was conducted on the 15th of June 2022.

Instrument Live Spread AM Live Spread PM
EURUSD 1.6 pips 1.7 pips
GBPJPY 3.8 pips 5.3 pips
Gold (XAUUSD) 19 pips 24 pips
Crude Oil 0.03 pips 0.03 pips
Germany 40 1 basis points 2.3 basis points
Dow Jones 30 1.5 basis points 4.1 basis points
Apple 0.18 points 0.18 points
Tesla 0.38 points 0.32 points

Based on our measurements, the spreads on some of the most popular FX majors are on par with the broader industry. Most beginners usually start to trade with FX pairs, meaning that Orbex’s spreads on instruments from this asset class can be competitive for those with little to no experience. Spreads on most commodities and indices are low to medium, while spreads on shares are quite low.

Given that Orbex offers more than 250 CFD shares on its platform, traders can take advantage of this diversity and the quite competitive spreads on instruments from this asset class.

Orbex’s Swap Rates

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

Instrument Swap Long Swap Short
EURUSD Charge of $7.5 Credit of $2.1
GBPJPY Credit of $1.9 Charge of $9.7

Orbex’s Commissions

For CFD trades with shares and cryptocurrencies, a commission fee is charged on the opening and closing of a position. We found Orbex’s commission rate to exceed the industry average slightly.

There is an $8 commission per round-turn contract on an Orbex Premium account and a $5 commission per round-turn contract on an Orbex Ultimate account. However, spread rates on the two start from 0.0 pips. You can find additional information here.

Markets Forex Commodities Stocks Indices Cryptocurrencies
Commission Zero Zero 0.16% Zero 0.15%

Orbex Non-Trading Fees

Orbex charges a 20 (EUR, USD, GBP, PLN) inactivity fee for dormant accounts on which no activity has been registered for 6 months or more. This fee is charged monthly until trading activity resumes or the account balance drops to zero.

Are Orbex’s Fees Competitive?

The competitiveness of Orbex’s fees depends mainly on personal preference. Traders who execute positions on FX pairs, shares, and some commodities will enjoy lower spreads on average compared to traders who prefer indices. Traders who also avoid placing orders on instruments from asset classes liable for commissions will pay even lower trading costs.

Traders can also avoid Orbex’s dormancy fee by simply being active on the market. Finally, the competitiveness of the broker’s fees is bolstered by the fact that there are no charges for deposits and withdrawals.

Platforms and Tools

4.4
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

See More

Clients of Orbex can trade exclusively on MetaTrader 4 (MT4). The renowned platform offers multiple indicators, drawing tools, and other trading features, though its interface is not perfectly user-friendly. The broker was awarded an above average mark in the Platforms category

Orbex’s MT4 platform affords copy trading, also known as social trading. It is a great option for beginners looking to replicate the successful strategies with a proven track record of other more experienced traders. Automated trading is also available. This is why we found the platform to be suitable for beginners and advanced traders alike.

The broker also allows traders to implement more sophisticated strategies on the platform, such as scalping and hedging.

The mobile version of the MT4 platform retains most of the features available on the desktop version. This allows traders to stay engaged and make necessary adjustments to their running positions no matter the device they use.

Orbex’s Desktop Platform

Orbex’s desktop MT4 platform

General Ease of Use

Regarding the feasibility of trading platforms, MT4 pretty much sets the benchmark for the essential components that need to be present on every platform. Despite its usability, however, there are minor issues with it, which other platforms manage to avoid. The chart layout is a bit cumbersome, making it difficult for traders to navigate the historical price action. Chiefly, scaling the price action up or down is not as straightforward as on other platforms.

Beyond that, traders can easily scroll through the watch list containing their favourite tradable instruments, which can be found on the left-hand side of the platform. The indicators and drawing tools lists are positioned at the panel’s top, while account information such as balance and free margin is situated at the bottom. The charts menu is placed on the right-hand side of the platform..

Charts

Despite the somewhat rugged outlook of the chart, which makes the price action appear more static than it is, MT4’s charts are nonetheless practical. Traders can populate them with multiple indicators and drawing tools, allowing them to compartmentalise different portions of the price action and examine the underlying market sentiment.

Here is a list of the most important features of the chart:

  • Trading indicators. Orbex’s desktop MT4 platform currently has 30 different trading indicators. There are trend and volume-based indicators, and oscillators. Traders can use combinations of indicators from the different types to conduct a multifaceted analysis of the price action depending on the underlying market sentiment.
  • Drawing tools. The chart also consists of 24 drawing tools, such as trend lines, channels, wedges, and Fibonacci corrections. These allow traders to spot repeatable patterns and determine key support and resistance levels. A rich assortment of drawing tools can help traders forecast potential breakouts, breakdowns, or consolidations in the price action.
  • Timeframes. Traders can choose from 9 different timeframes, the lowest one being 1-minute. This is a bit problematic because even though Orbex permits scalping, the chart does not have lower timeframes. It is therefore impossible for traders to examine the subtlest changes in price action.
  • Chart types. Price action can be represented in 3 different ways – as a line, individual bars, or candlesticks. While incorporating the most widely used chart types, the MT4 platform does not afford more unconventional ones. This lack of diversity may not be to the liking of seasoned traders with more intricate trading strategies.

Orders

Orbex’s MT4 platform has some of the industry’s most widely used order types.

  • Market orders. They are used for immediate entry at the best possible price. Market orders guarantee volume filling though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. They are placed at a price level different from the current spot price. Limit orders guarantee exact price execution, though there is no guarantee of volume filling.
  • Stop orders. Stop orders are usually used in support of a primary position. For instance, stop-loss orders are placed at a distance from the initial entry of a primary position in order to cap the potential loss that would be incurred if the price action goes against the primary position. Once the price action reaches the execution price level of a stop order, it gets transformed into a market order and then gets filled at the best possible price.
  • Expiry orders. Traders can use expiry orders to set a date on which the underlying trade is to be closed automatically if it already hasn’t been filled or cancelled by that date. Expiry orders are typically used by day traders and position traders who want to have an active position for longer than a single day but not indefinitely. One of the perks of expiry orders is that they can be used to cap the swap charges that a position might incur over time.

Orbex’s Mobile App

The mobile version of the MT4 affords traders quick and easy access to their accounts while on the go. The app is thus an indispensable tool in a trader’s arsenal, as it can be used to make quick adjustments to open positions. A trader may use the app to monitor the development of a position and possibly terminate it if, for instance, the market turns and losses start accumulating.

The app retains, for the most part, the feasibility of the platform’s desktop version, even though it is intended to serve a different purpose. While the desktop version is better suited for carrying out probing technical analyses, the app has to be run on small-screened devices. That is why the app serves more of a supporting role.

General Ease of Use

The app has several different categories. The first is a watch list of a trader’s preferred instruments. He can use it to quickly observe the bid and ask prices and the corresponding spreads. There is also the charts section where traders can analyse the latest price action and the account section where information pertaining to the performance of the account can be accessed.

The watch list of available instruments on Orbex’s MT4 platform (left) and the chart (right).

Charts

These are the essential tools and features of the MT4 mobile app, which can also be found on the desktop version:

  • Indicators. The app has 30 different indicators, such as trend and volume-based ones, and oscillators. The problem is that when viewed on low-resolution devices, charts can be crowded with indicators a lot faster than on desktop platforms. That is why the mobile app is unsuitable for conducting complex technical analyses.
  • Drawing tools. Orbex’s app incorporates 24 drawing tools, like channels, wedges, and Fibonacci retracement levels. This variety is again partially offset by the above-mentioned problem inherent to most mobile apps.
  • Timeframes. There are 9 different timeframes, ranging from 1-minute to 1-month.
  • Chart types. Traders can also choose how to represent price action – as a line, bars, or candlesticks.

Orders

Here is a list of the most popular order types available on Orbex’s mobile app:

  • Market orders. Market orders are used for immediate entry at the best possible price. They guarantee volume filling though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. They are placed at a price level different from the current spot price. Limit orders guarantee exact price execution, though there is no guarantee of volume filling.
  • Stop orders. Stop orders are usually used in support of a primary position. For instance, stop-loss orders are placed at a distance from the initial entry of a primary position in order to cap the potential loss that would be incurred if the price action goes against the primary position. Once the price action reaches the execution price level of a stop order, it gets transformed into a market order. It then gets filled at the best possible price.
  • Expiry orders. Traders can use expiry orders to set a date on which the underlying trade is to be closed automatically if it already hasn’t been filled or cancelled by that date.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Tradable Instruments

4.1
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

See More

Orbex scored average in the Tradable Instruments category. There are 300+ instruments from different asset classes available on all account types. These can be traded solely as CFDs. The broker was not awarded a higher mark in this category because of the lack of more complex instruments, such as options, bonds, and ETFs.

Traders may choose from more than 250 CFD shares, 50 FX pairs, commodities, indices, and cryptocurrencies. This variety affords retail traders exposure to different markets. Depending on their level of risk-aversion, traders may choose between highly volatile instruments, like cryptocurrencies and lower-risk securities.

What Are CFDs?

Traders use contracts for difference (CFDs) to speculate on the price of the underlying without physical delivery. For example, you can trade gold and profit as the price rises or falls without having to buy or sell actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With Orbex?

Here is a rundown of Orbex’s instruments by categories and sub-categories:

  • 69 Currency Pairs
    • Majors, Minors, and Exotics
  • 12 Commodities
    • Metals, Energy, Futures
  • 280 Stocks
    • UK, EU, U.S.
  • 15 Indices
    • Cash, Futures
  • 11 Cryptocurrencies
    • Majors, Minors

The number of indices and commodities offered by Orbex is higher than the industry average, while the number of FX pairs and stocks is average. By far, the most numerous instruments on the platform are CFD shares, which is complemented by Orbex’s relatively low spreads on instruments from this asset class.

Forex Commodities
EURUSD, GBPUSD, GBPJPY, USDCAD Spot Gold, Light Crude Oil, Brent Oil Futures
Indices Shares
Dow Jones 30, Germany 40, S&P 500 Apple, Tesla, Microsoft, Amazon
Cryptocurrencies
Bitcoin, Litecoin, Ripple, Ethereum, Cardano

Customer Support

3.3
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

See More

Orbex scored pretty low in the Customer Support category, which is its lowest mark in the entire review. Even though there are multiple channels via which traders can reach the broker 24/5, we found Orbex’s customer support team to be struggling when pressed with difficult-to-resolve queries.

Orbex Customer Support Test

When we test a broker’s customer support team, we evaluate the agents’ knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

The test was conducted on the 13th of June at around 3pm via Orbex’s live chat option. We decided to enquire more about Orbex’s commissions on a Starter Account, given that relevant information seems to be diverging at different sections of the website.

It took the agent more than 3 minutes to respond, and he immediately proceeded to offer to get us in touch with an account manager. The agent’s answers were short and uninformative. He sent a couple of links, which we had referred to in the first place.

Our conversation with Orbex regarding the commission charges

Traders wanting to get in touch with Orbex can find a complete list of the available channels here.

Deposit and Withdrawal

4.9
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

See More

Orbex scored very high in the Deposit and Withdrawal category because it has multiple transaction methods available, affording traders a great degree of flexibility in choice. The broker does not charge anything for deposits or withdrawals, though third-party fees may apply. Transactions are easy to make, and processing times do not exceed the industry standard.

Orbex Deposit Methods

Method Currency Processing Time Fees Regulated
Credit/Debit Card USD, PLN, EUR, GBP Up to 2 hours Zero Yes
Wire Transfer USD, EUR, GBP, AED, KWD 3-5 business days Zero Yes
Skrill USD, PLN, EUR, GBP Up to 2 hours Zero Yes
Neteller USD, PLN, EUR, GBP Up to 2 hours Zero Yes
Perfect Money USD, EUR Up to 2 hours Zero No
UnionPay USD, CNY Up to 2 hours Zero No
ENet USD, KWD Up to 2 hours Zero Yes
Fasapay USD, IDR Up to 2 hours Zero No
Crypto USDT Up to 2 hours Zero No

Orbex Withdrawal Methods

Method Currency Processing Times Fees Regulated
Credit/Debit Card USD, PLN, EUR, GBP Up to 24 hours Zero Yes
Wire Transfer USD, EUR, GBP, AED, KWD 3-5 business days Zero Yes
Skrill USD, PLN, EUR, GBP Up to 24 hours Zero Yes
Neteller USD, PLN, EUR, GBP Up to 24 hours Zero Yes
Perfect Money USD, EUR Up to 24 hours Zero No
UnionPay USD, CNY Up to 24 hours Zero No
ENet USD, KWD Up to 24 hours Zero Yes
Fasapay USD, IDR Up to 24 hours Zero No
Crypto USDT Up to 24 hours Zero No

International traders can choose from Orbex’s multiple transaction methods and use 9 different currencies to fund their accounts. Transactions are processed quickly and are not charged by the broker, though third-party costs like banking fees may apply. Orbex should also be praised for showing which transaction methods are regulated so that traders may choose the one they feel most comfortable with.

Additional information regarding Orbex’s deposit and withdrawal methods can be accessed here.

Account Types and Terms

4.9
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

See More

Orbex scored very high in the Account Types category because of its diversity, catering to the needs of different types of traders. There are three main account types suitable for most retail traders, in addition to Islamic and PAMM accounts. Opening a new account is fast and easy, and the minimum deposit requirement is quite low.

Orbex has three main account types – a Starter, Premium, and Ultimate. The first one has the lowest minimum deposit requirement – $100 – making it the most accessible of the three. Its spreads are variable, while the spreads on the other two account types start from 0.0 pips. On the other hand, the Starter account type is commission-free. Additional information concerning these retail account types is available here.

Clients of the broker needing swap-free trading can negotiate the conditions of their Islamic accounts with Orbex, while those wanting to have other professionals trading on their behalf may opt for the PAMM feature or corporate/joint accounts. Traders who wish to learn more about these options can read about them here.

Orbex’ PAMM account type

Why is Choosing the Right Account Type Important?

Trading with derivatives entails a very high degree of risk, so traders need to pick an account type that best matches their goals and needs. Traders should also consider whether the features of their preferred account type match their trading styles.

For instance, if you prefer low spreads and fixed costs to gauge the ever-changing market volatility, an Orbex Premium or Orbex Ultimate account may suit your needs. In contrast, an Orbex Starter account may be a better solution if you prefer commission-free trading.

What Account Types Does Orbex Offer?

Account Starter Premium Ultimate
Min. Deposit $100 $500 $25,000
Spreads From 1.6 pips From 0.0 pips From 0.0 pips
Commission $0 $8* $5*
Base Currency USD, EUR, GBP, PLN USD, EUR, GBP, PLN USD, EUR, GBP, PLN
Max. Leverage Up to 1:500 Up to 1:500 Up to 1:500
Demo Account Yes Yes Yes

*Commission per round-turn contract

There is an apparent trade-off between the three retail account types. The Starter account has the lowest barrier to entry, making it accessible even to traders with moderate means. However, they should consider two things before they move on with it. Firstly, the Starter account has the highest trading costs in terms of spreads.

Secondly, the possibility of using spreads as high as 1:500 is a double-edged sword. The bigger the leverage, the bigger the reflection on the account balance from even minute changes in the price action. In other words, traders with smaller balances face a correspondingly bigger risk of wiping out their accounts because of volatility.

Unsurprisingly, the Ultimate account type offers the best conditions, but its $25,000 minimum deposit requirement makes it less accessible to traders. The Premium account is thus, on balance, the most practical of the bunch.

What is CFD Leverage?

In a nutshell, the leverage determines a trader’s overall market exposure. When trading Contracts for Difference or CFDs, positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions and losses incurred from failed trades.

Тhе leverage can be a trader’s best friend or worst enemy, depending on how cautiously and responsibly one uses it. Traders should always beware that the bigger the leverage, the bigger the impact of even small changes in the underlying price action on their account balances.

Orbex Account Opening Process

We have broken down the steps necessary to open an account with Orbex:

  • Step 1 – To begin the account opening process, click on the “Register” button that can be found on the top-right corner of Orbex’s main page. First, you will be asked to fill in personal information, such as your name, email, and country of residence.
  • Step 2 – Secondly, you will have to verify your email address by clicking on the activation link that has been sent to the address you provided. Then, you can select your password before you are taken to Orbex’s Member Area. This is where you can access the various features of your account.
  • Step 3 – Next, you will have to choose your account type, preferred leverage (from 1:30 to 1:500), and base currency before filling in the remainder of your personal details. You will also have to state your trading strategy (scalping, hedging, or day/intraday trading).
  • Step 4 – Before you can place your first trade, you will have to verify your identity. The process is entirely digital; you have to submit a photo of your national id card, passport, or driver’s licence.
Account creation with Orbex

Why Is A Demo Account Important?

A trader uses a demo account to test the services of a broker, such as the speed of order execution, spreads, and usability of the platform, in a safe environment. Additionally, traders can use this simulated version of the market to tweak and improve the parameters of their strategies.

Orbex’s Supported Countries

Orbex Global Limited provides financial services to international traders, except for residents of the following countries: the U.S., Cuba, Sudan, Syria, and North Korea.

Orbex Limited serves traders who are residents of countries that are members of the European Economic Area (EEA).

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

Research

4.5
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

See More

Orbex scored high in the Research category. The broker has a comprehensive collection of varied content, breaking down current market trends and developments in an easily digestible format that even beginners can grasp easily. Orbex has a rich assortment of technical and fundamental analyses and videos; the only thing missing is a news section.

We found Orbex’s research materials very practical with a sharp focus on current market developments. They are intended to help the reader understand presently unfolding trading opportunities. This is achieved by paying equal attention to each opportunity’s technical and fundamental aspects. Traders can access these materials from Orbex’s Research Overview.

We did not award Orbex a perfect score in this category because of the lack of a proper news section. Raw economic data, such as unemployment and inflation rate changes, is not covered independently. Even still, Orbex’s research content is equally well suited to cater to beginners’ and advanced traders’ needs.

Orbex’s rich and insightful articles

Research Tools

Orbex’s research content falls into several categories:

  • Video breakdowns – Orbex’s video content is the most accessible of the bunch. Each video focuses on a major economic event (for instance, ECB’s latest policy decision) and studies its likely impact on the price action of a given instrument or set of instruments.
  • Technical analyses – In a paragraph or two, each separate analysis breaks down a trading set-up currently emerging on a given instrument by outlining key support and resistance levels and potential target levels. Orbex’s technical analyses should be read in conjunction with its fundamental analyses.
  • Fundamental analyses – The fundamental analyses examine in length the underlying driving forces that shape the trading set-ups underpinned by Orbex’s technical content. In short, they strive to explain the macroeconomic reasoning behind an anticipated upsurge or downsurge in the price action of a given instrument.
Orbex’s technical breakdowns

Education

5.0
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

See More

This is the category in which Orbex performed extremely well, earning a very high mark. The broker has a wide range of educational videos, webinars, and articles, comprising a systematic course that can help beginners grasp the ABCs of trading. These materials are highly informative and numerous, allowing the reader to gain a multi-faceted perspective on key topics.

A brief glance at Orbex’s Educational Hub reveals a diverse collection of different types of educational materials and supporting content. There are multiple educational videos, including on how to use the platform, articles, webinars, and an extensive glossary, that are intended to help traders with varying levels of experience.

Orbex’s webinars fall into three categories: beginner, intermediate, and advanced. Some of those are in different languages (Italian, Spanish), making them more accessible to a broader audience. Additionally, there are 11 written courses for traders wanting an even more detailed outlook on the basics of trading.

What we found particularly useful are the 4 quizzes, which traders can use to test their knowledge. This is made easier by including a currency calculator and a pip value calculator.

The Bottom Line

Orbex Global Limited is a retail broker that provides a wide range of solutions to traders with different experience levels. It offers multiple account types that accommodate scalpers, hedgers, day and intraday traders, and a rich collection of educational and research materials. On the other hand, the broker does not have very competitive fees, and it’s offshore licencing is rather loose.

The biggest advantage of Orbex is the extensive supporting materials it affords traders with different experience levels. These allow them to gain a nuanced understanding of trading basics while staying on top of current market developments. Orbex’s multi-layered content is also complemented by its diverse account types, allowing traders to take advantage of different kinds of opportunities.

Where the broker can improve its service is in regards to its licencing, fees, and trading platform. So far, Orbex Global Limited is authorised solely by the Mauritius Financial Services Commission “FSC,” which is a tier-3 offshore regulator. Its fees, though affordable in some respects, are nonetheless not the most competitive ones in the industry. Finally, the inclusion of a second platform type would afford traders a greater degree of flexibility.

FAQ

Where is Orbex based?
Orbex Global Limited is headquartered in Mauritius and also has offices in Jordan and Kuwait. Orbex Limited is headquartered in Cyprus.

Is Orbex safe?
Orbex Limited is safer because it is authorised by a tier-1 regulator (CySEC), while Orbex Global Limited is licenced by a tier-3 regulator (FSC). This entails much looser oversight.

How does Orbex make money?
Via the spreads and commissions, it charges traders for order execution.

Is Orbex good for beginners?
Yes, the broker has a rich collection of research and educational materials.

How do I deposit into an Orbex account?
Traders can use a debit or debit card, wire transfer, or deposit via eWallet.

What is the minimum deposit for Orbex?
The minimum deposit is $100.

The minimum deposit is $100.
Clients of Orbex can withdraw funds via the same method they use for funding.

How long does it take to withdraw money from an Orbex account?
Most transactions are processed within 24 hours, except for wire transfers, which may take 3 to 5 business days.

What is Orbex’s maximum leverage?
The maximum leverage is 1:500 for retail and professional traders

How do I open an account with Orbex?
By clicking the “Register” button that can be found at the top-right corner of Orbex’s main page and following the instructions.

What platforms does Orbex offer?
The broker uses MetaTrader 4 (MT4).

Does Orbex offer a demo account?
Yes.

broker

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.

See Orbex Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Mauritius
Foundation Year
2011
Regulations
CySEC (Cyprus), FSC (Mauritius)
Publicly Traded
No
Number Of Employees
112
Trading Desk Type
No dealing desk
Trading platforms
MT4
Restricted Countries
United States
Supported Languages
English, Spanish, German, French, Arabic, Russian, Chinese, Bengali, Finnish, Greek, Vietnamese, Malaysian, Bulgarian, Urdu, Indonesian, Polish, Hungarian, Turkish, Italian
Min Deposit
$100
Max Leverage
1:30 (CySEC), 1:3500 (FSC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller, PerfectMoney, Sofort, E-wallets, Moneybookers, FasaPay, Webmoney
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller, PerfectMoney, E-wallets, Moneybookers, FasaPay, Webmoney
Cryptocurrencies
Bitcoin, Cardano, Litecoin, Ripple, Ethereum
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
icon

Trade With A Regulated Broker

IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMERS
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.