Orbex ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
Established in 2011, Orbex was founded with a mission to serve its traders responsibly. And with that in mind, Orbex works diligently to provide you with access to the world’s largest and most liquid financial markets. The broker has good selection of trading instruments across various asset classes, including CFDs on forex, indices, commodities, cryptos and stocks. If found them to have highly competitive trading conditions such as tight spreads and access to tier-1 bank liquidity which equates to reliable execution speeds at the best possible prices. You can speak with a diligent 24/5 customer support team to answer your every query as and when need. They have the resources and tools needed so that you can focus on market research and analysis to help you find valid trade Opportunities. The minimum deposit to get started is $100 which isn’t the lowest that you will find. However, there is the option of a free demo account if you want to give them a try before making a commitment.
Pros & Cons
- Access to tier-1 bank liquidity across a large selection of 300+ trading instruments
- Trade with the award-winning MT4 platform anywhere, any time and on any device
- Trade with tight spreads starting from 0.0 pips
- Seamless execution in under 0.03 seconds
- Scalping, hedging and automated trading allowed
- Wide range of advanced trading tools including Trading Central
- Daily actionable analytics and market research from in-house research team
- Fast deposits and withdrawals
- Best account conditions require larger deposit
- No MetaTrader 5 platforms
- Do not currently support crypto funding
- $100 minimum deposit
- Cannot accept clients from some countries due to regulators
Established in 2010, Orbex are regulated by the CySEC and FSC and offer trading in a great selection of financial instruments spread over currencies, stocks, commodities, cryptos and indices. You can trade with an advanced selection of trading tools available on one of the industry’s favourite trading platforms, MetaTrader, both on desktop and mobile devices for when you are not at your computer.
The broker has competitive trading conditions including tight spreads starting from just 0.0 pips. You can get quick and easy market access with fast execution of under 0.03 seconds per order, a free VPS and leverage up to 1:500. Orbex implements some of the latest innovations in charting, analysis, and automation tools and resources, which helps to deliver a smooth trading process.
Traders can also benefit from daily trading signals and technical analysis reports via the brilliant Trading Central, as well as the broker’s award-winning research team via the Orbex blog and social media channels. Investors of all trading styles are welcome, including scalpers, hedgers and fans of automated trading who can also select from a wide range of trading robots, or create their own thanks to Orbex’s platform supporting fast automated strategy development.
With over 20 native support languages to assist you, an automated chat bot system to streamline response times, a robust FAQ center and a highly trained team of support specialists available 24/5, no matter your trading query, Orbex sets an industry example for stellar customer service and support. The broker upholds a reputation of seasoned expertise within the industry and enhanced security of client funds. They are a market leader in terms of innovation and customer service, having received several broker awards in various categories over the years. This help to emphasise the quality of service that they can provide to traders of all experience levels.
When it comes to choosing a trading broker, regulation is one of the first things that I look for. This is because a regulated broker must follow strict rules and procedures that have been implemented to protect investors. The online brokerage brand Orbex is operated by two companies — Orbex Limited and Orbex Global Limited — which are owned by Orbex Holding Limited. Orbex Limited, which serves EU clients, is registered in Cyprus and regulated by the Cyprus Security and Exchange Commission (CySEC). Orbex Global Limited is registered in Mauritius and serves non-EU clients. They are regulated by the Mauritius Financial Service Commission (FSC). It is important to note that not all regulators are the same. Some are considered to be better than others. I would personally prefer to trade with the CySEC entity but you can choose according to your own needs and preferences.
Adhering to the strictest international regulations, Orbex has worked hard to consolidate its reputation as a trusted broker in the industry. This means offering their traders a secure trading experience, which includes but is not limited to, clients’ funds segregation and the strict protection of data and personal information. When you combine this with the company’s philosophy that encourages informed and responsible trading, and its status as an established source of valuable information, Orbex really stands out as the shining example of what it means to be a reliable broker.
Through the Cyprus-registered firm, Orbex Limited, the broker serves clients from the 28 EU-member nations. The Mauritius-registered company, Orbex Global Limited, serves clients from all over the world, provided that the domestic regulations of a client’s resident country do not prohibit operation. However, Orbex states that they do not offer services to residents of certain jurisdictions, such as the US, Cuba, Sudan, Syria, Mauritius, and North Korea. If you find they cannot accept traders from your country for whatever reason, please feel free to browse our broker reviews for an alternative option.
Orbex provides you with various applications of the ever-popular MetaTrader 4 trading platform, including the MT4 Client Desktop, Android Trader, and the MT4 iPhone & iPad Trader. I have been using MT4 for many years and find it to be one of the best trading platforms for manual and automated trading. It is easy to use, fully customisable and loaded with tools for conducting in-depth market analysis across multiple chart types and timeframes. I think it is the ideal platform for beginners due to the intuitive layout whilst it has enough features to satisfy the needs of the most demanding of traders.
MetaTrader 4 Desktop
The MT4 desktop application for PCs has a wide range of functionalities with a user-friendly interface. Some of its many features include the one-click trading panel, trailing stop, and automation tools. This version of the platform has all of the features, including automated trading. It is my go to platform for when I need to conduct in-depth chart analysis and to run my automated trading systems.
MetaTrader 4 Mobile
Orbex provides an MT4 application for Android and iOS smartphones and tablets so that you can trade on the go. It offers you complete control over your trading account and allows all types of orders. With the numerous technical indicators provided, you can do your technical analysis on your mobile device. The app is sleek, modern and very user-friendly. I like how it provides similar functionalities as the MT4 desktop application for PCs, including full access to your account history and complete charting system with technical analysis tools. You can place market, limit, and stop orders, as well as hedge positions. However, there is no algorithmic trading function, you will need the desktop platform for that. I think trading apps are a great way to keep track of your trades and the latest market news from the comfort of your mobile phone.
The broker supports Financial Information Exchange (FIX) API which is a high speed technology for secure online trading that allows for the seamless real-time exchange of a large amount of financial information. It has long been used by the largest institutional players in the financial markets, including large banks and stock exchanges, thanks to the reliability of the technology and the speed with which it transfers vast amounts of data. In the context of retail investing, brokers offering FIX API technology provide a superior service that offers a direct connection between traders and tier-1 liquidity providers, meaning that trades are executed with no latency and with ultimate precision.
Percent Allocation Management Modules
PAMM, or Percent Allocation Management Modules, is a trading solution that allows everyday Investors to access the financial markets using a skilled trading Manager’s cutting-edge strategy. Using innovative technology, the service enables Investors to deposit money into a pool account (PAMM Investment Account) operated by the Manager. Profits and losses arising from the Manager’s trading strategy are then automatically calculated and distributed according to each Investor’s initial deposit. PAMM features include:
- No Experience Required
- Choose Your Manager
- Top-of-the-Line Professionals
- Segregated Funds
- Create Your Own Counteroffers
- Real Time Stats
With a fully transparent platform that hides no fees, trading conditions or commissions, PAMM Investors can expand and diversify their trading portfolios securely and under the supervision of a regulated broker, without having to formulate a trading strategy or take trades themselves. All PAMM Managers must meet exceptionally strict criteria to qualify, and are required to back their trading strategies with their own funds. Whilst I think that the PAMM solution can be a good option for investors who do not have the time or knowledge to trade manually, there can be no guarantee on results. I would actually prefer to maintain control over my own trading activity as I feel this is the best way to learn from your mistakes and become a better trader in the long run.
To be honest, I think the MetaTrader 4 platform should already have more than enough tools built-in to meet the demands of most traders. You will find loads of tools for analysing the charts and managing your orders. Then there is the MQL marketplace which you can access from directly within the platform. This contains a plethora of free and paid tools to further enhance the platforms capabilities. If that isn’t enough, the MetaEditor enables you to develop your own tools in the MQL language. You can even hire a freelancer to do it for you if you don’t have the programming skills. Whatever your idea for a trading strategy, chances are that you can bring it to life in MT4. It is good to see Orbex also provides you with access to some additional tools free of charge to further enhance your trading possibilities. Orbex has a number of interesting tools that definitely help you understand the markets better, manage your risk, and automate your trading strategy.
The broker has an in-house web TV where they provide in-depth market research — fundamental and technical analysis. You can tune in to Orbex Web TV and watch their research team dissect the various markets.
This algorithmic forex trading system helps you automate your trading strategy without having to learn how to code an expert advisor or pay a programmer for one. With this tool, Orbex helps you automate your forex trading strategy on your MT4 platform, absolutely free.
Orbex provides free VPS (virtual private server) to clients who want to have expert advisors trade for them 24 hours a day and 5 days a week without any internet interruption. The VPS comes with some benefits like not missing any trade setups and increased execution speed. I have my own VPS that I find to be an invaluable tool for running my expert advisors around the clock without needing my own computer switched on. It is a great way for me to compare brokers and see how my automated strategies perform.
Trading Central is an independent provider of market analysis that delivers forex trading signals directly on your MT4 platform and provides real-time market analysis. Orbex makes Trading Central services available to you for free. I think this is fantastic tools for automated market analysis to find trading signals. It can save you from hours of scanning the charts and alert you when there is a setup according to your preferences. You can experience the award-winning investment suite that has it all, from premium trading tools and advanced investment expertise to turnkey strategy building solutions. If this is a tool you want access to, other brokers who provide Trading Central free of charge include Libertex.
- Access to research conducted by certified expert analysts
- In-depth fundamental and technical analysis
- Premium automated analytics & trading signals
- Personalized, real-time trade ideas
- Innovative indicators for MT4
Orbex has many of the important trading calculators on their website. They include the pip and margin calculator, risk calculator, pivot point calculator, and currency converter. These calculators can be handy if you need to plan your trades in a rush or if you are just not very good at maths.
The broker provides an economic calendar on both their website and your MT4 desktop platform so that you know the announcements that are expected in the market. I think it is important to stay up to date with the latest news and always like to check the calendar before making any trade decision.
Orbex has a wide range of educational resources on their website and blog. These include webinars, e-books, free video courses, tutorials and trading guides. Boasting an award-winning team of local and international investment researchers, Orbex focuses on offering traders of all levels the educational tools necessary to accompany every stage of their trading journey. From daily fundamental and technical analysis, to webinars, e-books, podcasts, videos and weekly reports, Orbex provides excellent educational material to suit every trader’s needs. A leading provider in Elliott Wave research, Orbex analysis is frequently featured across global financial outlets, including Bloomberg, Refinitiv Eikon, and CNBC. I think there is more than enough educational content available, even for beginner traders with no prior experience.
The broker organizes webinars for their clients from time to time, and they make the videos of the previous webinars available on their website so that their clients have access to them. Details of the upcoming webinars are also made available on their website.
Orbex has a number of eBooks, which they offer you for free upon the creation of a demo account on their website. Some of their eBooks include Money Management for Forex Traders and Speculating with Forex CFDs.
Free Video Courses
The broker has a huge catalogue of free video tutorials available to their clients. These can be a great way to learn about trading online in an enjoyable and easy to digest manner, especially for those of you who are visual learners.
The broker has a blog section with tons of articles on the common topics a new trader should know. The tutorials cover most of the technical indicators, various aspects of MT4 and how to use them, and some elements of fundamental analysis.
Learn to Trade Forex
This is a comprehensive introductory guide to forex trading, which Orbex has included on their website to help beginner traders understand the basic elements of trading.
You can invest in the world’s largest online markets and trade currencies, commodities, indices and stock CFDs with ultra-fast execution and tight spreads starting from 0.0 pips. Orbex offers a reasonable variety of tradable instruments that include currency pairs including the following:
Trade the world’s most liquid currency trading market with tight spreads, low commissions and an average order execution of 0.03 seconds. Orbex offers clients the ability to trade forex pairs via CFDs, or Contracts for Difference. CFD FX trading allows you to capitalize on the price fluctuations of exchange rates by taking a trading position based on what your research and analysis tells you will happen to the value of a currency. This means you can either take a buy (long) position or sell (short) position on a currency depending on your price projections.
Trade cryptocurrency CFDs with low commissions and flexible trade sizes. Trading crypto CFDs with Orbex allows you to buy and sell cryptocurrency pairs, so that you can speculate on the fluctuating prices without having to buy or store digital currencies in a digital wallet.
You can trade commodities with a good range to choose from and spreads starting from 0.0 pips. Like currencies, commodities such as energies and metals are widely available to trade on the financial markets via Contracts for Difference. Commodities are some of the most liquid assets you can trade and offer unique portfolio diversification opportunities.
Choose from a wide range of international stock CFDs and diversify your portfolio with low commissions. Much like currency markets, stocks are exclusively available to trade at Orbex via CFDs, or Contracts for Difference. This means that you can trade the price movements of a particular asset or company, without purchasing the physical shares themselves. If you believe the price of a stock CFD will go up, you may take a long (buy) position. If you believe the price of a stock will go down, you may choose to take a short (sell) position.
Trade CFDs on the most popular indices around the world with ultra-fast execution. Indices are also used as a benchmark to assess the general performance of other economic data, like inflation or interest rates. Popular indices in the financial market include the S&P 500, which tracks 500 of the largest companies listed on the stock exchange in the US. Other top-traded indices from the US include the Dow Jones Industrial Average and the NASDAQ. Indices for many other large markets are also highly traded, including the DAX (Germany) and the FTSE (UK).
Whether you’re a swing trader, scalper or hedger, Orbex have carefully curated various account types are created to meet your personal trading needs. You can choose the type that suits your trading style, risk appetite, and trading capital. There are currently three main account types to choose from:
This account requires the least minimum deposit at just $100. It has variable spread starting from around 1.5 pips on the EUR/USD which isn’t the lowest you will find. Therefore, this is probably not the ideal account for scalping but there is no commission fee charged as it is already included within the spread. It the minimum deposit is too much for you at the moment, TD365 have a $1 minimum deposit instead.
Here, the minimum deposit is $500, and it carries an $8 commission per lot which isn’t the cheapest. There are other discount brokers with lower fees but then this account does have variable spreads starting from as low as 0.0 pips This means it could work out cheaper that the starter account but is likely to depend on the type of strategy you are using and how often you plan on trading.
For this account, the minimum deposit is very high at $25,000, but it does have the best trading conditions overall. The spread is variable and starts from just 0.0 pips, and it has a low $5 commission free per standard lot round turn. This account would reduce trading costs significantly if you can afford it. It also comes with all of the bells and whistles that the broker has to offer, including one on one training sessions. If the deposit is out of your reach, you can get zero pip spreads and low commission fees through other brokers such as IC Markets.
This account type is offered exclusively to Muslim clients, and there must be a proof of religion to open one. The account is swap-free which makes it compliant with Sharia law as you don’t pay any interest. It is good to see the broker support traders with different religious beliefs, but it is something that I have come to expect nowadays.
You can always open a free demo account if you want to practice trading online without any risk to begin with. This can be a good way to familiarise yourself with the brokers conditions and trading platforms before making any commitment. It is also a good way to build up your confidence and test out different strategies.
Orbex has a dedicated customer support service that is available 24/5 to provide traders with the requested support all through the trading hours. Their multilingual customer service team can be reached through many channels, such as live chat, email, online contact form, and phone calls. The broker has the phone numbers for their different offices on their website. If you’re a resident of the EU, it might be best to call the Cyprus number. You can even request a call back by filling the ‘Call Back Request’ form. I have always fount the brokers support to be a pleasure to deal with although feel they could improve by providing 24/7 support like FP Markets do.
Orbex welcomes a good variety of different types of payment methods. There is something for everyone, including digital wallets which I find to be the quickest and easiest way to move funds around between my trading accounts. The broker doesn’t support crypto funding but Hankotrade do if that is something that you are looking for. It is great that the broker does not charge any fees for deposit or withdrawals, but your financial service provider may charge some fees for the transactions. You can choose the one that is most convenient for you from these categories of payment methods.
Orbex accepts MasterCard and Visa cards. It takes about 2 hours to process deposits, but withdrawals take between 3 to 5 business days.
This method of payment takes about 3-5 days to process transactions, whether deposit or withdrawal.
Orbex accepts a few online wallets for both deposit and withdrawals. Deposits take about 2 hours to be processed, while withdrawals may take up to 24 hours.
Overall, there is a lot that I like about Orbex. They have a good selection of financial instruments for trading on user-friendly devices with very competitive trading conditions. You get access to a nice variety of robust trading tools and helpful educational resources so that you can analyse the markets thoroughly and make informed decisions. There is also a good range of account types and funding options to choose from. However, the best conditions do require a large deposit and I would like to see them offer the MetaTrader 5 platform along with 24/7 support. That being said, I think they can be worth consideration for anyone looking for no-nonsense trading in a regulated environment.