Orbex Broker Overview

Orbex offers up to 500:1 leverage and has three different types of trading accounts. The minimum deposit required for opening an account is $100 with the Starter account, which has no commissions on trades. Accounts that offer smaller spreads, but which charge a commission, require a larger deposit.

The Starter account is best for those starting out. Other than a lack of private training sessions, it includes all the perks of the other accounts. The key difference is the spreads. The cost of the trade is factored into the spread. Spreads are larger on the Starter account, which is why the company doesn’t charge a commission.

The Premium and Ultimate accounts have much lower spreads, but you will pay $8 per round turn per contract (“round turn” includes your entry and exit fee) with a Premium account and $5 per round turn per contract on the Ultimate account. The Premium requires a $500 minimum deposit whereas Ultimate is a $25,000 minimum deposit.

The main benefit of the Ultimate over the Premium is two additional one-on-one consultations and lower commissions. Other than that, the accounts are very similar, offering the same spreads and no dealing desk (NDD) execution.

NDD is preferred by most traders because it means the broker isn’t taking the other side of your trade (thus creating a conflict of interest). Rather, they execute your order against another market participant. Islamic accounts, also called swap-free accounts, are offered as well. Here are the financial instruments you can trade, all via contracts for difference (CFD):

• 44 forex pairs
• 10 indices, including the S&P 500, UK 100, and Nasdaq 100
• 12 commodities, including gold, silver, and oil
• 200+ stocks from the US, UK, and EU
• 11 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple and more
• 8 futures contracts (indices futures) including the German, Australia, Spain, and France indices

The following are spreads you can expect to see on various account types.

Orbex (just like Forex4you) does not offer binary options trading.

MetaTrader 4 is produced by Meta Quotes. Many brokers offer it due to its popularity among traders. Its easy-to-use interface and array of features make it an attractive trading platform. MT4 is available for PC and MAC, as well as an Android app.

MT4 on Orbex comes equipped with 1-click trading ability which allows you to place trades quickly. It has 30 indicators available, but you can download additional indicators in the marketplace. It has its own programming language, allowing you to create your trading indicators or trading robots, or you can download other people’s indicators or robots.

Overall, MT4 is a relatively simple program offering traders what they need: the ability to place entries, stop losses, and profit targets. The three primary orders for managing trades.

Here are the ways you can deposit to and withdraw from your Orbex account, along with the type of currencies you can deposit or withdraw through that payment processor.

Most deposits are instant, depending on the speed of the payment provider. Withdrawals are processed within 24 hours during the week. Bank wires may take 3-5 days for the deposit to reach Orbex or for the withdrawal to reach your bank account.

For processing times on deposits, check with each payment provider.

Orbex Promotions and Deposit Bonuses

Orbex is not currently advertising any deposit bonuses, but it does offer free VPS and no-fee deposit and withdrawals. A deposit bonus is when the company allows you to trade with more capital than what you deposited into the account. Orbex does not currently offer a deposit bonus.

That said, the company does offer free Virtual Private Servers (VPS). A VPS is another computer that hosts your trading account so that it is less likely to be impacted by things like power outages or viruses. A VPS also generally offers faster execution speed than trading off your own computer.

Algorithmic traders typically prefer to use a VPS. For traders placing trades manually, which is most retail traders, it is not required.

Reputable brokers offer segregated accounts. This means your funds are held in trust, separate from the broker’s own funds.

Also long as your funds are in a segregated account, even if the broker goes bankrupt, your funds are safe. Segregated funds are a key thing that experienced traders look for in a broker, along with being regulated.

Orbex also offers negative balance protection. This means that your account balance can’t go below zero – and if it does, you are not responsible for the debt. This is an appealing feature since losing more than what you have in the account is a possibility when trading on leverage.

Orbex is also part of the Investors Compensation Fund (ICF) which is offered by the Cyprus Securities and Exchange Commission (CySec). This provides compensation to investors, up to €20,000, in the event of an ICF broker ICF going bankrupt.

Orbex Global Limited is regulated by the Mauritius Financial Services Commission (FSC). Orbex Limited is regulated by the Seychelles Financial Services Authority (FSA) and the Cyprus Securities and Exchange Commission (Cysec).

To avoid getting scammed, it’s best to trade with a regulated broker. If the broker is regulated in more than one location, that is a good sign for its reputability.

To be regulated, a broker must adhere to local laws and meet certain financial requirements. This helps ensure the safety of trader’s funds. Many other forex brokers are regulated by the FSC and FSA, including BDSwiss.

Here are the phone numbers for Orbex if you want to speak to a live agent:

Mauritius office: +442035198140

Seychelles office: +442036565401

You can also send them an email. Expect a response within 24 hours.

Support: support@orbex.com (general inquiries)

Dealing Desk: dealing@orbex.com (trade issues or questions)

Complaints: complaints@orbex.com (voice a problem)
Finance: finance@orbex.com (deposit and withdrawal issues)

Turkish: turkiye@orbex.com

Arabic: arabic@orbex.com

Cyprus: support@orbex.com.cy

You can also send them a message from their contact us page. Before contacting support, view the Help Centre which includes answers to questions on getting started, payment methods, MT4, trading, VPS service, and more. Support is available in English, Turkish, and Arabic. Other languages may also be available upon request but are not advertised.

How long does it take to withdraw from Orbex?

Withdrawals are typically processed within 24 hours during the week. If a withdrawal is made on the weekend, it will be processed on Monday. How long it takes for the money to get to your bank account depends on the speed of the payment processor. Many withdrawal methods are instant, but wires can take three to five days.

What is the commission on Orbex?

There is no commission on Starter accounts, but spreads are larger. Premium accounts charge $4 per contract, or $8 per round-trip trade, and spreads are smaller than the Starter account. The Ultimate account has the same spreads as the Premium account, but commissions are $2.50 per contract, or $5 per round-turn trade.

Does Orbex accept US clients?

Orbex does not accept US clients. If you are looking for another broker that accepts US clients, see Oanda.

Does Orbex accept Canadian clients?

Orbex does accept Canadian clients. For comparison, you can check out FXCM, another forex broker that accepts Canadian clients.

Is Orbex a scam?

Orbex is not a scam. It has been in business since 2011 and is regulated in two jurisdictions. That said, its TrustPilot rating is mediocre with a rating of 3.4.

How to change your time zone as an Orbex trader?

Orbex only offers MetaTrader 4. You can’t change the time zone of your charts in MT4. The time zone is set to that of the broker’s location.

Final Thoughts on Orbex as a Broker

Orbex is a decent broker choice for people living outside of the USA. Spreads are relatively high on the Starter account, but spreads starting at 0 pips and commissions of $2.5 to $4 per contract are competitive compared to many other brokers.

The only trading platform offered is MT4. Many other brokers offer additional choices such as MT5 or their own trading platform, but MT4 is adequate for trading. Orbex is regulated in two locations and has a Trustpilot rating of 3.4.

If you are looking for a forex or CFD broker, Orbex is a decent choice. IC Markets, JustForex, XM, CMC Markets, and Alpari are other quality choices to compare, so check out our reviews of those brokers to see how Orbex stacks up. You can check out more Forex Broker Reviews here.

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