Orbex Review

Company Background & Regulation

Orbex is a well-established online brokerage firm, founded in 2011, with its headquarters located in Limassol, Cyprus. The company has positioned itself as a reliable partner for traders, offering a wide range of trading instruments and a robust trading environment. Over the years, Orbex has grown its clientele globally, appealing to both novice and experienced traders through its comprehensive educational resources and advanced trading platforms.

Ownership of Orbex is maintained by a group of financial market professionals who are committed to providing a transparent and secure trading environment. This dedication to professionalism and integrity has helped Orbex build a reputation as a dependable broker in the competitive world of online trading.

Regulatory oversight is a critical aspect of Orbex's operations. The company is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most reputable regulatory bodies in the European Union. Orbex's CySEC licence number is 124/10, which ensures compliance with the stringent financial regulations set forth by the Markets in Financial Instruments Directive (MiFID II). This regulatory framework mandates high standards of transparency, security, and accountability.

Client fund protection is a priority for Orbex. The broker ensures that all client funds are held in segregated accounts, separate from the company’s operational funds, to offer an additional layer of security. Furthermore, Orbex is a member of the Investor Compensation Fund (ICF), which provides compensation to eligible retail clients in the event of the company's insolvency, up to a maximum of €20,000 per client. This commitment to client protection highlights Orbex's dedication to maintaining trust and confidence among its traders.

Trading Fees & Spreads

Orbex offers a competitive fee structure that is designed to accommodate a wide range of trading strategies. The broker provides variable spreads starting from as low as 0.5 pips on major forex pairs, making it an attractive option for cost-conscious traders. On average, traders can expect spreads of approximately 1.2 pips on popular pairs like EUR/USD, which is competitive when compared to industry standards.

In terms of commission, Orbex operates a commission-free model on its Standard and Premium accounts, with trading costs embedded within the spreads. However, the broker does charge a commission on its Raw account, where spreads can be as low as 0.0 pips. The commission on the Raw account is $8 per round lot, which is a fair rate for traders who prefer tighter spreads.

Traders should also be aware of overnight swap rates, which apply to positions held overnight. These swap rates can vary depending on the asset and the direction (long or short) of the position. Orbex provides detailed information on swap rates through its trading platforms, ensuring traders can make informed decisions regarding the costs associated with holding positions overnight.

When it comes to deposit and withdrawal fees, Orbex does not charge any fees for most methods, including bank transfers and major credit cards. However, it is important to note that third-party fees may apply, depending on the payment provider. Additionally, Orbex imposes an inactivity fee of $30 per month after 180 days of account dormancy. This fee structure is on par with many of its competitors, though traders should remain active to avoid such charges. Overall, Orbex's fee structure is competitive, particularly when considering the high level of service and regulatory oversight it provides.

Trading Platforms & Tools

Web Platform

Orbex offers the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, accessible via their web-based versions. The MT4 WebTrader is popular for its user-friendly interface, allowing traders to execute trades without the need for software installation. This platform maintains the core functionalities of the desktop version, including one-click trading and real-time market data. The MT5 WebTrader provides a more advanced experience, supporting additional asset classes and offering a broader range of technical indicators. Both platforms enable traders to access their accounts from any web browser, providing flexibility and convenience for users.

Desktop Platform

The desktop versions of MT4 and MT5 available with Orbex are particularly suitable for traders who require a robust trading environment. MT4 is known for its stability and extensive tools, including over 30 built-in technical indicators and nine timeframes. Orbex enhances this with automated trading capabilities via Expert Advisors (EAs). MT5 extends these features with even more analytical tools, 21 timeframes, and an integrated economic calendar. Both platforms support algorithmic trading and allow users to create custom indicators and scripts using MQL4 and MQL5 languages, respectively.

Mobile Platform

For traders who need to manage their investments on the go, Orbex provides mobile versions of the MT4 and MT5 platforms. Available on both iOS and Android, these apps offer seamless functionality akin to their desktop counterparts. They support a wide range of order types and provide real-time quotes, interactive charts, and the capability to execute trades directly from the chart. The mobile apps also allow for push notifications and alerts, ensuring traders never miss market movements.

Charting Capabilities, Order Types, Alerts, and Integrations

Orbex’s platforms are equipped with advanced charting capabilities, offering a variety of chart types, including line, bar, and candlestick charts. Traders have access to over 30 technical indicators and multiple analytical objects to perform in-depth market analysis. Order types available include market, limit, stop, and trailing stop orders, providing traders with flexible execution options. Additionally, the platforms support programmable alerts for price levels and market conditions. Orbex also offers API and algorithmic trading through their platforms, enabling sophisticated trading strategies and third-party integrations. These features cater to both novice and professional traders, ensuring a comprehensive trading experience.

Account Types & Minimum Deposit

Account Tiers

Orbex provides several account types to cater to different trading needs, including the Starter, Premium, and Ultimate accounts. The Starter account is designed for new traders, requiring a minimum deposit of $200 and offering spreads starting from 1.5 pips. The Premium account, suitable for more experienced traders, requires a minimum deposit of $5,000 and features tighter spreads from 0.8 pips. For institutional traders, the Ultimate account demands a minimum deposit of $25,000, providing the most competitive spreads starting from 0.5 pips and offering exclusive trading tools and services.

Demo and Islamic Accounts

Orbex also offers a demo account, allowing traders to practice and develop their strategies in a risk-free environment. This account simulates real market conditions and provides access to all the features available on the live platforms. Additionally, Orbex caters to the needs of Muslim traders by offering Islamic accounts. These accounts comply with Sharia law by eliminating swap or rollover interest on overnight positions. Traders can request this account type during the registration process, ensuring they can operate within their ethical and religious guidelines.

Minimum Deposit and Supported Deposit Methods

The minimum deposit at Orbex is set at $200, which, while higher than some competitors, reflects its commitment to providing a quality trading experience with robust platforms and customer support. Orbex supports a variety of deposit methods, including bank wire transfers, credit/debit cards, and popular e-wallets such as Skrill and Neteller. These options ensure that traders from different regions can easily fund their accounts. All deposits are processed swiftly, allowing traders to commence trading with minimal delay.

Markets & Instruments

Orbex provides a diverse range of trading instruments across multiple asset classes, positioning itself as a flexible option for traders seeking variety. The broker offers access to over 50 currency pairs in the forex market, one of the most liquid and dynamic trading environments available. This includes major, minor, and exotic pairs, allowing traders to capitalise on both well-known and niche market movements. The forex instruments are accessible with competitive spreads starting from 0.5 pips, providing an attractive proposition for both novice and experienced forex traders.

In addition to forex, Orbex offers CFDs (Contracts for Difference) across various asset classes, enhancing trade diversification opportunities. Traders can engage in CFD trading on indices, commodities, and cryptocurrencies. The broker provides CFDs on major global indices such as the S&P 500, FTSE 100, and DAX 30, enabling traders to speculate on the performance of these key economic indicators. Commodities trading includes both hard and soft commodities, such as gold, silver, and oil, providing a hedge against inflation or economic uncertainty. Cryptocurrency CFDs add another layer of diversification, featuring popular digital coins like Bitcoin, Ethereum, and Ripple.

Despite the breadth of offerings, Orbex is primarily focused on CFD trading, which might limit traders interested in owning the underlying assets. However, the option to trade cryptocurrencies via CFDs is noteworthy, as it allows traders to speculate on price movements without the need for a digital wallet. The inclusion of Islamic accounts also makes Orbex appealing to traders seeking Sharia-compliant trading conditions, adding to its unique offerings. Overall, Orbex caters to a wide range of trading preferences, although it remains limited to CFD markets.

Safety & Security

Orbex prioritises the safety and security of its clients' funds, adhering to stringent regulatory standards as mandated by the Cyprus Securities and Exchange Commission (CySEC). One of the key safety measures implemented by Orbex is the segregation of client funds from the company’s operational accounts. This means that client deposits are kept in separate bank accounts, reducing the risk of misuse and safeguarding funds in the event of financial difficulties faced by the broker. Moreover, the broker offers negative balance protection, ensuring that traders cannot lose more than their initial investment, thus providing an extra layer of financial security.

Cybersecurity is another critical area where Orbex excels, employing advanced encryption technologies to protect sensitive client data and transactions. The broker’s platforms, MT4 and MT5, are renowned for their robust security protocols and offer secure trading environments. Orbex has maintained a stable regulatory history since its inception in 2011, operating under the strict oversight of CySEC, which enforces high standards of transparency and operational integrity. This regulatory compliance enhances the broker’s credibility and provides traders with peace of mind knowing that they are trading with a reputable entity.

Who Is Orbex Best For?

Orbex is particularly well-suited for traders who value a diverse range of trading instruments and seek a broker with robust regulatory oversight. With access to both MT4 and MT5 platforms, the broker caters to a wide spectrum of trading styles, from day trading to long-term strategies. The availability of Islamic accounts makes it an attractive option for traders requiring Sharia-compliant financial services. Furthermore, Orbex's extensive educational resources are beneficial for beginners who are still gaining familiarity with trading concepts and strategies.

Experienced traders who prioritise advanced analytical tools and sophisticated trading platforms will find Orbex’s MT5 platform particularly appealing, thanks to its enhanced features and technical analysis capabilities. The competitive spreads and high leverage of up to 1:500 enable seasoned traders to maximise their trading potential while managing costs effectively. However, traders looking for exposure to markets beyond CFDs might find the broker’s offering somewhat restrictive.

While the $200 minimum deposit could be a barrier for those with limited capital, it remains competitive compared to some industry peers. The focus on client security and regulatory compliance further solidifies Orbex's standing as a reliable choice for traders prioritising safety and transparency.

• Ideal for traders seeking a wide range of forex and CFD instruments.
• Suitable for those requiring high leverage options, up to 1:500.
• Great for traders looking for Islamic accounts and Sharia-compliant trading.
• Beneficial for novice traders due to extensive educational content.
• Not ideal for traders wanting to own underlying assets, as offerings are limited to CFDs.
• May not suit traders with very low initial capital due to the $200 minimum deposit requirement.