Orbex Review – Orbex.Com Is a Reliable and Trusted Broker

Orbex is a reliable broker with a good track record over the past 13 years as a legitimate investment firm. This brokerage has its headquarters in Cyprus and is accordingly regulated by the tier-one regulator CySEC. 

This serves as a form of guarantee that the broker complies with the regulations of a top-tier regulatory body and that the traders that choose to use this broker are protected. 

It should be noted that over the course of the past 13 years Orbex has continued to put efforts toward providing a healthy trading environment. 

Traders have the opportunity to grow with the company through regular educational webinars organized by the investment firm as well as Orbex TV an educational resource available to all of the firm’s clients. 

Traders should also be aware that this broker has recently acquired an MFSC license from the local financial authority of Mauritius, giving the more daring traders access to significantly higher leverage. 

In addition, we suggest you check out these licensed brokers’ reviews FxPro, Interactive Brokers, and Trade Nation.

Orbex Pros and Cons

This is a quality broker that provides healthy trading conditions for its clients. While there are lots to love about this broker like the quality education that they provide (including a free demo account) as well as the amazing customer support there are a few cons as well. 

Some of these would be the lack of ASIC regulation making safe trading impossible for clients based in Australia, leaving them with the unsafe option of trading through the offshore Mauritius-based branch of this company. 

We also think that the high minimum deposit of $500 is slightly prohibitive to new traders and those looking to enter the space of forex trading. 

Pros:

• Tier one regulation 
• An industry standard trading platform (MetaTrader4) 
• A free demo account is available 
• Over 10000 active users 
• Quality customer support in a variety of languages and support options
• Quality education including a finance glossary 

Cons:

• A high minimum deposit of $500 
• Not regulated by ASIC 
• Losses can exceed deposits.

Is Orbex Regulated? License and Security

This Cyprus-based broker is licensed and regulated by the tier-one regulatory body CySEC. When a trader is in search of a new brokerage that they can use it is just as important to know who the broker is licensed by rather than just the fact that they are licensed. 

In this case, it is safe for traders to use the services offered by this broker’s Cyprus branch as it has tier-one regulations. 

Their Mauritius branch, however, is not safe to trade with as that branch is not subject to the same strict regulatory rules that apply to the CySEC-licensed portion of the company. 

Top-tier regulators are there to protect the interests of traders and to stop investment firms from behaving in a predatory manner. 

In order for a broker to maintain their license status they must be in consistent compliance with the rules and regulations put forth by the regulator. This is not the case in offshore locations such as Mauritius. 

Accounts Types Offered by Orbex 

When looking for a broker, it is crucial that traders also pay close attention to the account types offered. Different account types can meet the needs of traders spanning from those just starting out all the way to pros. This broker offers the following account types:

• Starter
• Premium 
• Ultimate 

The main difference between the account types offered is the fact that the starter account type has no commissions and only offers monthly webinars. 

Users of the premium and ultimate accounts can enjoy exclusive webinars as well as 1x 1 on 1 and 3 x 1 on 1 trading sessions. 

Trading Platforms Overview

Orbex makes use of the industry’s favorite MetaTrader4 trading platform. This is good news as this platform offers traders of all skill levels a quality trading experience. 

One of the major highlights of this trading platform is the high degree of customizability that investors can use to set things up according to their own preferences. 

MetaTrader4 also provides all the necessary tools for a trader to be able to make quality decisions about their trades. All of this extends to the mobile trading experience. 

Regardless of which option traders choose from the web to desktop and even mobile, traders have access to the incredibly user-friendly UI that comes with MetaTrader. 

All three variants of the trader allow for useful features such as price alerts and push notifications giving users the necessary information as soon as it becomes available allowing them to act quickly. 

Trading Instruments Available at Orbex

Orbex provides its clients with a wide selection of tradable instruments. Clients of this broker can trade with the following: 

• Forex
  • AUD/CAD
  • AUD/CHF
  • USD/CAD
• Indices
  • AUS200
  • ESP35
  • FRA40
• Crypto
  • ADAUSD
  • BCHUSD
  • DOGUSD
• Commodities
  • NGV2
  • XAUUSD
  • XPDUSD
• Equities
  • 3m
  • Activision 
  • Adobe
• Futures
  • HK50Roll
  • US3OU1
  • ESP35V2

With such a large selection of tradable instruments, each trader should be able to find the right fit for themselves as well as have the opportunity to build a diverse investment portfolio. 

A variety of instruments also ensures that one broker is able to meet the majority of each trader’s needs. With this selection, it is clear that Orbex is a well-rounded investment firm.

Orbex Broker Offers Promotions

Currently, this broker is running a promotion called “Win 4k of Pure Gold”. Traders can enter the chance to win by trading 20 lots by the end date of each round automatically entering them into the pool from which the broker draws the winners. 

Each round offers a few levels of prizes ranging from 6k to 21k. The fact that all active traders are automatically enrolled in the “lottery” under the simple condition of trading 20 lots is great considering the fairly low barrier of entry.

Deposits and Withdrawals Methods 

This broker offers a multitude of safe deposit and withdrawal methods for its users. We have verified that this broker accepts the following legitimate payment methods:

• Neteller
• WebMoney
• Fasapay
• Wire Transfer
• Credit/ Debit cards
• Skrill

When choosing a broker it is crucial that traders pay close attention to the deposit and payment methods that are available. 

Scam brokers will often claim to have multiple legitimate payment methods available when in reality they only accept payments in crypto. 

This is because crypto payments are untraceable, nonrefundable and 100% anonymous. This broker only deals with legitimate payment methods ensuring the safety of their users even in the case of an issue arising. 

For example, credit card payments are subject to a chargeback should the trader face any issue with the funds that they have deposited. Something very similar applies to wire transfers in which case the term is a recall. 

The withdrawals from this broker can be made via the same methods available for deposit and are not subject to any withdrawal fees. The only fee you may be subject to is one applied by the payment processor of your choice i.e your bank. 

Orbex Customer Support 

An item that regularly comes up consistently in customer reviews of Orbex is the quality of their around-the-clock customer support. This broker provides 24-hour support for its clients 5 days a week through a variety of contact methods. Clients can reach customer support via 

• Email- Email inquiries were answered within 15 minutes at best and 7 hours at worst. 
• Live chat- The Live chat option is extremely responsive as we got a reply to our inquiry within 30 seconds of sending the question  
• International phone lines- This contact method got us an answer within five minutes of making the call.

Additionally, customer support is available in a variety of languages through all three contact methods. 

Orbex Overall Summary

Overall, Orbex is a legitimate broker that provides healthy trading conditions as well as a great education. The different account types give users access to different levels of education with a distinction being made between advanced and basic. 

The premium and ultimate accounts also feature one on one trading sessions. In terms of the trading platform, everything is above board as the broker provides MetaTrader4 for web, desktop, and mobile. 

One of the things we take issue with is the fact that, in order to serve international clients, this broker has opened a branch in the offshore location of Mauritius. 

That said, the Cyprus branch of this broker is well-regulated by CySEC. Another issue that we see is the fact that losses tied to a user’s account can exceed their deposit/available funds. 

All in all, this broker has a variety of pros and a small list of cons. However, the pros such as tier-one regulation, quality education, and 10000 active users outweigh the cons. Trading with this broker’s Cyprus branch is completely safe, just stay away from their offshore location.

FAQs About Orbex Broker