This broker has also been regulated by FCA 553071, CySEC 124/10, CNMV 2894, Banque de France 73762, CONSOB (Italy) 3148 and ESMA.
Extensive Review
Owned by Orbex Group Limited and is operated by Orbex Global Limited, Orbex provides foreign exchange and CFD online trading for traders worldwide. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with License Number 124/10. As it resides in the European Union jurisdiction, Orbex is also registered with other supervisory authorities based on the MiFID Directive; it included UK's FCA and German's BaFin.
Orbex thrives to serve clients with the most updated innovations in the forex industry. The company commits to deploy active promotions and other special offers to traders. Envisioning itself as a global brand, trading with Orbex is promoted to enhance the trading experience with the best customer service, one-hour response time for sales and support requests, speed, and reliability in trading, deep liquidity from Tier-1 banks, as well as swap-free accounts.
This broker presents excellent market trading conditions with various trading instruments such as 50 pairs of currencies and other assets like Precious Metals, Future Contracts (OTC), Equity Indices (OTC), CFDs, and Energy Contracts. Orbex generally offers maximum leverage of 1:30, as per ESMA's regulation to limit the condition. However, it allows higher leverage up to 1:500 only for professional traders.
Further details on Orbex's trading conditions are divided by the account types' specifications below:
Starter Account
- Minimum deposit: $200
- Spread: Variable, from 1.7 pips
- Commission: None
- Execution type: NDD
- Extras: Monthly webinar, Trading Central, Scalping allowed, regular training sessions, free signals, basic education, EAs allowed.
Premium Account
- Minimum deposit: $5,000
- Spread: From 0 pips
- Commission: $8
- Execution type: NDD
- Extras: Exclusive webinar and Live trading, Trading Central, Scalping allowed, 1 on 1 training sessions, premium signals, advanced education, VPS support, EAs allowed.
Ultimate Account
- Minimum deposit: $25,000
- Spread: From 0 pips
- Commission: $5
- Execution type: NDD
- Extras: Exclusive webinar and Live trading, Trading Central, Scalping allowed, 1 on 1 session, ultimate signals, advanced education, VPS support, EAs allowed.
Opening an account in Orbex accommodates the needs for flexible trading anywhere and anytime, as their MetaTrader 4 is supported in not only PC screen, but also Android and iOS systems. However, this broker does not provide any alternatives for trading platforms aside from MetaTrader 4.
Besides the conventional bank transfer, account fundings and withdrawals are enabled via direct debit/credit cards, Skrill, NETELLER, WebMoney, FasaPay, and other digital wallets. There are no fees and all deposits and withdrawal methods, but there is an exception for bank withdrawals as there may be commissions from the intermediary and/or beneficiary bank.
Finally, it can be concluded that Orbex is a competitive broker for all types of traders. It covers beginners' conditions in Fixed and Starter Accounts while ensuring experienced traders' needs in Premium and Ultimate Accounts at the same time.
However, it is also important to note that Orbex is an offshore-based company even though the operation is already authorized by CySEC. That's why new traders should maintain a minimum trading balance in their initial experience with Orbex.