There are certain locations which are well-known for the Forex industry, like Great Britain, Cyprus, Eastern Europe, Asia, and the USA, but still, some EU countries keep a low Forex profile like Germany, France, Sweden, Denmark, etc. Many traders from these countries are looking for brokers nearby, so they also have a fair chance in the global market. They often find them in the UK and Cyprus, the two most popular EU Forex locations. The Orbex broker seems to have a different approach from the rest of Cypriot brokers. The broker seems to challenge the strictest regulations and does not hide its business conduct in a typical offshore destination. Let us see what the Orbex broker is actually about in the following Orbex review.
The Orbex Background
Orbex has entered the Forex market in 2010 and has been showing stability and loyalty throughout these years. Thanks to strong regulation, the broker is incredibly popular. Orbex Limited is regulated by CySEC, while Orbex Global Ltd. is regulated by the Mauritius Financial Services Commission (FSC). CySEC is known for having very high standards and for eliminating (or fining) every broker who breaks the slightest rule. Of course, traders like to hear this and enjoy to be protected by some of the largest and most influential institutions in the EU. We see that Orbex, equipped with two licenses, offers a new level of security and makes many traders feel safe in the highly volatile and risky market.
The broker opted for the stable, already globally acknowledged Meta Trader 4 platform which took the Forex world by storm. There is not even a single bad thing that can be used against the MT4 since the market participants are crazy about it. Orbex also offers the MT4 Multiterminal for multiple account management, along with the classic desktop version. And, as every well-equipped and prepared broker, this broker also offers a mobile trading platform for easier access from anywhere. This is a multi-asset platform which enables tracking up to ten liquidity levels. The powerful software enables smooth performance with a flawless interface. Also, the platform is suitable for all trading types and levels with many customizable settings. This means that traders can personalize their account with this platform. The platform provides for direct access to liquidity providers, which means direct access to the best quotes, which further means better-winning odds for you.
Orbex covers all possible traders’ needs within four accounts. You can register with:
- Fixed account ($500)
- Starter account($200)
- Premium account ($5,000)
- Ultimate account ($25,000)
It is clear that some of the accounts are not affordable to the common man. This broker seems to be on the hunt for big traders who have the means, skills, and courage to trade large amounts and deposit large sums. Whilst there are no commissions charged on the Fixed and Starter accounts, you can take advantage of lower spreads if you register for a Premium or Ultimate account. With these, you’ll have to pay small commission fees yet spreads start at 0 pips.
Our Orbex reviewers were also happy to find that all account types boast execution speeds of less than 2ms. They offer leverage of up to 1:500, depending on your experience, and are suitable for both intraday and position trading. When you trade with Orbex, you’ll also gain access to VIP signals, training courses, and exclusive webinars. To help all styles of traders, Orbex supports hedging, scalping, and the use of EAs.
There is no regular Orbex bonus, but the broker runs promotions from time to time which can be very interesting. In the past, we had the Orbex promotion which included winning a $500 bonus for social networks. Sharing the broker’s link on Facebook, Twitter, etc. brought some traders $500. Stay in the loop with this broker not to miss out on great prize money.
Orbex offers a wide range of payment methods. Deposit and withdraw via wire transfer, credit cards, Neteller, WebMoney, Fasapay, Skrill, and K-net Payment Gateway. The processing of withdrawals usually takes 24 hours, except for wire and credit card transfers which take up to 3-5 days. No commissions are charged on behalf of the broker.
The Orbex broker website is available in 14 languages and the FAQ section explains many general and technical issues in detail. If you should need additional help, you can contact the Orbex support team via phone (or request a call-back), e-mail, and live chat. The broker maintains an efficient customer support which will reply to your request as quickly as possible.