Arincen

Item: Orbex
Rating: 67.1

Key Takeaways

The Orbex Group was founded in Mauritius in 2011.
Orbex is regulated in Mauritius as an “Investment Dealer” by the Financial Services Commission (FSC).
Orbex (EU) Ltd is a limited company registered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The company has affiliates that are licensed to operate in Kuwait and Jordan.
Orbex clients are covered by the Investor Compensation Fund (ICF) up to €20,000 per affected trader.
Orbex operates a No Dealer Desk (NDD) trade execution model.
Orbex offers extensive market access with over 300 trading Instruments, featuring $50+ billion traded volume per month, and 600+ billion trades executed per year.
The broker provides consistently fast trade execution with an average order execution time of 0.03 seconds.
The broker provides Contracts for Difference (CFD) access to markets in asset classes such as FOREX, indices, commodities and stocks.
Orbex offers highly competitive spreads and commissions across its account types, and it does not charge withdrawal or deposit fees, merely passing on third-party fees as they apply.
The broker provides clients with platform access to MetaTrader4 (MT4) as a downloadable desktop application, a Web version, and a mobile app.

Orbex Evaluate - research result

Overall Evaluation 6.7

Regulations

8.5

Deposits and Withdrawals

Commissions

Assets

Trading Platform

Research and Development

Customer Service

6.5

Mobile App Trading

Learning

Experience with broker

Trading Tools

9.7

Website

Overall Summary

The Orbex Group was founded in Mauritius 2011. It is now a renowned financial services provider with a global footprint. The broker’s stated mission is to “Serve its traders both ethically and responsibly.” The company takes pride in providing competitive trading conditions across a wide range of asset classes and access to top-tier liquidity.

Orbex focuses on its research and education products. The scale and ambition of its education section acts as a differentiator against similar sized brokers. Orbex is also proud of its attempts to help clients achieve financial and trading success. It facilitates a thriving community of like-minded traders, with the aim of raising the overall standard of discourse in trading circles.

The company offers solid customer service backed by responsive and well-trained teams in key markets. The broker allows clients to invest in the world’s most thriving online markets, where they can trade currencies, commodities, indices and stock CFDs. It provides fast execution with tight spreads as low as zero pips.

The broker concentrates on client trading safety that features leading security measures, like top-notch encryption, free Virtual Private Servers (VPS) and negative balance protection.

Orbex has received several awards for excellence over the years. In 2021, it received the “Decade of Excellence” Award from the Global Banking & Finance Review. The company also received the “Best Trading Conditions” award from the Dubai FOREX Expo 2020.

Orbex

Rating

Foundation Year

2011

Main Branch

Mauritius

Other Branches

Kuwait, Jordan

Languages

Arabic, English

Work Hours

Market Opening Hours

Who Is Orbex Good For?

Orbex has something for every type of trader. In particular, it has user-friendly products and pricing for entry-level to mid-level traders.

This middle part of the market in terms of trader capitalization and trade volume seems to be where the broker is comfortable competing. The company is hamstrung by its lightweight reputation in the marketplace, meaning it cannot truly compete with better-known brokers competing for high-volume traders.

Pros

Authorized and regulated by the tier-1 CySEC.
Offers negative balance protection.
Low spreads from zero pips and consistently good overall pricing.
Consistently fast trader execution speeds.
Well-regarded by industry commentators.

Cons

Does not cater to US clients.
Does not have strong overall regulation.
Does not offer cryptocurrency trading.
Limited trading platform options.

Is Orbex Safe?

Orbex has a mixed safety stance. It is regulated by the tier-1 CySEC, license number 124/10, which means it is safe (low risk) in European markets. As part of this regulation, Orbex is compelled to take part in the Investment Compensation Fund (ICF) scheme, which means it can offer affected clients €20,000 in compensation.

The broker also abides by the European Union Markets in Financial Instruments Directive (MiFID), where all client funds are held in segregated accounts while separated from the company’s funds. Compliance with this directive also means the broker must adhere to strict reporting standards.

That powerful regulation is betrayed by the fact that the only other regulation the company enjoys is by the FSC in Mauritius as an investment dealer, license SEC-2.1B. The FSC is considered to be a lowly tier-3 regulator. The lack of safety for traders outside the EU must raise some serious red flags because in 10 years of operation the broker has not tried to seek regulation by more stringent bodies.

As such, clients joining this broker from Europe can rest easy that they are protected. However, clients from anywhere else in the world are advised to treat the broker with extreme caution. Perhaps responding to questions about its safety standards, the broker moved its global headquarters from Mauritius to Limassol Cyprus.

The broker also has affiliate offices in Kuwait and Jordan, although it is not regulated in the MENA region. At the same time, Orbex does not offer its services to residents of certain jurisdictions, such as the US, Cuba, Sudan, Syria and North Korea.

Trading Account Information

Account Currency

USD

Minimum Deposit

100$

Segregated Accounts

Yes

Payment Methods

Bank transfer, credit card, Electronic Banks, Criptocurrencies

America Accepts

Available Markets

Forex, Commodities, Stocks, Cryptocurrencies, Indices

Trial Duration

30 Days

Offering of Investments

The broker provides a range of attractive investment options, even though its trading slate is by no means the most comprehensive on the market:

FOREX: Orbex offers clients the ability to trade FOREX pairs via CFDs. There are 44 FOREX pairs on offer, made up of seven major pairs, 22 minor pairs and 15 exotic pairs.
Commodities: Clients can trade a range of commodities with tight spreads starting from zero pips. There are spot prices on seven commodities, including three energies and precious metals, such as gold.
Stocks: Traders can choose from a wide range of international stock CFDs and diversify their portfolio with low commissions. Orbex clients can trade in 66 of the most traded EU and US company stocks.
Indices: Clients can trade CFDs on eight of the most popular indices around the world with ultra-fast execution. The broker offers access to well-known indices, such as the S&P 500, the Dow Jones Industrial Average, and the NASDAQ.

Available assets

Markets	Available	Number of Assets
Currency Pairs		44
Stocks		104
Commodities		6
Crypto		11
Indices		10
ETFs

Account Types

Account Type	Minimum Deposit	Spread Commission	Commission	Swap Commission	Deposit Commission	Withdrawal Commission
Starter	$100	Starting from 1.5 pips	$0	Not mentioned	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.
Premium	$500	Starting from 0.0 pips	$8	Not mentioned	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.
Ultimate	$25000	Starting from 0.0 pips	$5	Not mentioned	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.	Starting at $0 with credit cards and wire transfer, and up to to 2% with electronic banks.

Orbex accounts facilitate scalping, hedging and long-term trend trading. The company has carefully curated its account types to meet a range of individual trading needs. Available account currencies are the USD, the EUR, the GBP and the PLN. Traders should note that the PAMM Account is only available in USDs.

Starter Account: Designed for beginner traders, this account features a low minimum investment of $100. Spreads are variable and there is zero commission.
Premium Account: Intermediate traders who are progressing well on their trading journey can take advantage of this account with a minimum investment of $5,000 and low spreads from zero pips. With an $8 commission per round turn, scalping is allowed on this account, as is the use of Electronic Assistants (EA).
Ultimate Account: Built for seasoned traders who are well-capitalized, this account comes with a suitably high minimum deposit of $25,000. The account combines low spreads from zero pips with a volume-driven $5 commission per round turn. Leverage as high as 1:500 is available, as is scalping, EAs and VPS.
PAMM Account: These types of accounts allow clients to partner with a seasoned trader who gives them the benefits of their deep experience, meaning the trader does not have to invest countless hours upskilling themselves. The minimum investment on this account is $500, and variable spreads are partnered with zero commission and high leverage up to 1:500.

Account Opening

Opening an account is a straightforward process. After uploading the required documents, such as identification details and proof of address, traders can make a deposit via one of the many account funding methods.

Demo Account

Clients can test their trading strategies in real-time market conditions on an MT4-enabled Demo Account. Traders can back test their trading approaches and adjust them in a risk-free environment. Orbex keeps the Demo Account open for 30 days, during which time there are no caps on trading volume or usage of the account.

Islamic Account

Swap-free accounts are available, provided a trader can show “Sufficient proof of religion” to be able to get access to zero swaps or roll-over interest charges on overnight positions.

Bonuses and Promotions

The Orbex Gold Rush promotion is a year-long offer that is broken into four rounds, each lasting for three months. In each round, 1kg of real gold will be given away, split into six prizes for six different winners.

Advantages of Trading

Maximum Leverage

1:500

Minimum Lot Size

0.01 Lot

Available FOREX Pairs

44 Currency Pairs

Scalping

Yes

Hedging

Yes

Spread

Starting from 1.5 pips

Trailing Stop

Yes

Islamic Account

Yes

Trading Platforms

Web platform, MT4

Regulatory Bodies

FSC

Broker Type

STP

Deposits and Withdrawals

Traders must fund their account via the secure Orbex Wallet. This convenient investment tool fast-tracks clients in the Know Your Customer (KYC) queue. This means that account funding transaction speeds are improved as traders are pre-vetted. It helps to manage risk and streamlines the account funding process.

The Orbex Wallet is an online financial wallet that is automatically created as soon as traders register for a live trading account. Deposit and withdrawal fees are free, except for third-party charges levied for withdrawals. The broker supports the following funding methods:

Skrill.
Debit/credit cards.
Webmoney.
Neteller.
Bank wire transfer.
UnionPay.
Enet.
Fasapay.

Customer Service

Clients in need of customer service assistance can speak to an agent via live chat. They can also send a message via a range of email accounts that are monitored on a 24/5 basis. One drawback of this broker’s customer service is that there are no other language options besides English.

Commissions and Fees

Overall, Orbex’s fees are extremely competitive. As aforementioned, the company provides four distinct trading accounts to suit each trader’s unique needs. Within these accounts, there is a choice between variable or fixed spreads with no commission charges. The broker’s spreads are defined by the account type you select. The Standard Account spreads start from 1.5 pips and operate through floating or variable spreads to enable traders to carry out scalping or another strategy.

There are no commissions applied to the Fixed and Starter Accounts. However, the Premium Account is subject to a commission of $8 per round turn, and the Ultimate Account is subject to a commission of $5 per round turn. Deposit and withdrawal fees are free. Traders will have to contend with an inactivity fee on dormant accounts, but the amount is unclear. Traders are advised to contact the broker to discover this fee.

Leverage

Leverage is determined by the regulator in each jurisdiction. European traders with Orbex will be subject to strictly-controlled leverage levels up to 1:30 for major currencies and 1:10 for commodities. For all other traders, Orbex can provide high leverage up to 1:500 for FOREX instruments. Traders should be aware to use this leverage with discretion, as they can suffer dramatic losses easily.

Platforms and Tools

Orbex offers the following trading platforms:

MT4: This popular platform allows clients to trade FOREX, commodities, indices and stock CFDs. It is well known for its user-friendly interface and up to 30 built-in technical indicators. Traders can make use of custom expert advisors and technical indicators. There are four pending order types and nine timeframes to make the trading experience as insightful as possible.
Financial Information Exchange (FIX) API: This high-speed technology for secure online trading allows clients to access markets with swift and precise execution. Originally designed for professional trading, FIX API in a retail trader setting provides even the ordinary trader with unparalleled trading speed, reliability and privacy.

It must be said that as the average trader is swept up with advancements in algorithmic trading and ever more sophisticated platforms, relying on MT4 as its sole trading platform casts Orbex in a bad light and suggests it is lagging in the race for technological advancement.

Mobile Trading

Orbex’s user-friendly mobile trading option is built on MT4 software and provides mobile access on Android and iOS devices. The MT4 mobile version comes with many of the staple features of the desktop version of this platform.

Research and Development

Orbex caters to traders with various levels of experience and knowledge. The broker’s Website has a broad range of research and educational tools for clients to take advantage of. Indeed, Orbex touts its research section as, “multi award winning.”

Through Webinars and written content, Orbex provides information such as indicators and a trading glossary in a detailed knowledge repository. Orbex has a selection of advanced research tools that can help traders stay up to date with market movements. Some of these tools include:

Macroeconomics.
Technical Analysis.
FOREX News.
Commodities News.
Indices and Shares News.
Trade Ideas.

Users can select information based on markets, categories and contributors. The Technical Analysis section, bolstered by insightful indicators and chart patterns, provides in-depth value to traders of any level. Traders also receive a stream of regular insights from professional market experts and seasoned Elliott Wave specialists.

Education
The education section is also vast and detailed. Each resource is comprehensively structured and expertly crafted. The educational area is filled with eBooks, tutorials, archived and live Webinars, as well as an impressive list of trading guides. Traders can make use of any or all the following sections:

Video Tutorials.
MT4 Tutorials.
Educational Articles.
Webinars.
Trading Strategies.
Trading Tips.
EBooks.
Infographics.
FOREX Psychology.
FOREX Glossary.

Final Thoughts

Orbex is the definition of a middle-of-the-road broker. It is regulated in Europe by one tier-1 regulator, but lacks good regulation elsewhere. With solid market access, highly competitive trading fees and a suitable selection of account types from which to choose, beginner to intermediate traders can be satisfied that this broker caters to their needs.

The company has access to good liquidity and has dependable trading platforms. Its market access is acceptable, but will not get the pulse racing. Traders can use MT4 on their desktop or mobile device to enjoy familiar functionality.
The broker has an enviable research section that is well-designed and filled with expertly-crafted educational material. Its customer service desk is available 24/5 and is staffed by helpful, if monolingual workers. In all, this is a broker that can be trusted to serve its main clientele well, even though some red flags remain.

Conclusion

Orbex has some work to do in the area of regulation and investor fund protection if it were to stand out in its segment. Its fees are competitive, and it is clearly trying to improve its standing by concentrating on improving liquidity and execution speeds.

Its platforms are dependable and recognizable while its research and education capabilities are to be admired. However, it could do some work to improve its customer service desk, which is not available in the home languages of large sections of its client base. The broker also does not have any features that are immediately attractive to elite, high-volume traders, which is where all the best brokers compete.

Orbex in Brief

Orbex’ overall offering is acceptable and predictable. Its main highlight is a detailed research and educational section. Its fees are competitive and its platforms can be relied upon to deliver a good trading experience. The company is safe, especially in Europe, and has received some industry recognition for its excellent service.

Review Methodology

The team at Arincen collected over 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

Companies’ Websites.
Other Websites that have ranked FOREX companies.
A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise.

We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.

Afterward we validated the data by:

Registering with FOREX companies as a secret shopper and/or as Arincen.
Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.