ORBEX ECN FOREX Broker Review
ORBEX REVIEW SUMMARY
■ Foundation: ORBEX founded in 2010
■ Headquarters: ORBEX maintains headquarters in Cyprus and second offices in Kuwait
■ US Residents: ORBEX does not accept US traders –No-
■ Islamic Accounts: ORBEX provides Islamic Accounts (SWAP-Free) –Yes-
■ Regulated: ORBEX is regulated by CySEC (124/10) and registered with FCA UK (553071), BaFIN, Banque de France (73762), CNMV Spain (2894) and CONSOB (3148)
■ Account Segregation: Accounts are segregated plus Orbex participates in the domestic Investor Compensation Fund -Yes-
■ Web-Site Languages: ORBEX website supports English, German, Chinese, Japanese, Persian, Polish, Russian, and Spanish
■ Customer Support: English, Arabic, Spanish, Greek, Bengali, Chinese, German, Indonesian, Russian and Urdu
ORBEX TRADING INFO SUMMARY
■ Broker Type: Orbex is an STP/ECN Forex Broker
■ Platforms: MetaTrader4 for Windows and MAC, Mobile Traders, and MT4 Multi-Terminal
■ Trading Time Zone: GMT+2
■ Demo Account: ORBEX is offering a Demo Account –Yes-
■ Typical Fixed Spread EUR/USD: 0.9-1.5 pip fixed
or Variable spread starting at 0.6 pips plus trading commissions $6-10/lot
■ Leverage: Leverage at ORBEX is up to 1:30
■ Scalping /Hedging: are allowed at ORBEX –Yes-
■ Bonus Policy: ORBEX does not offer a welcome bonus at the moment -No-
■ Minimum Account: $500
► ORBEX Live Accounts | ► Orbex Demo Accounts
ORBEX ASSET INDEX
□ ORBEX is providing many Forex Pairs, Stocks, Indices, Energies, Precious Metals, Commodities, and Forex Futures.
Click the following slider to reveal the Forex assets and their specifications
FOREX ASSET
MAX LOTS
MIN. FLUCTUATION
LIMIT / STOP ORDER
SWAP SHORT
SWAP LONG
EURUSD
50 Lot
0.0000,1
5
0.06
-0.13
GBPUSD
50 Lot
0.0000,1
5
-0.27
0.07
USDJPY
50 Lot
0.00,1
5
-0.09
0
USDCHF
50 Lot
0.000,1
5
-0.08
-0.01
USDCAD
50 Lot
0.0000,1
5
0.2
-0.41
USDTRY
50 Lot
0.0000,1
15
5.52
-7.79
AUDUSD
50 Lot
0.0000,1
5
-0.8
0.33
NZDUSD
50 Lot
0.0000,1
5
-0.97
0.6
EURGBP
50 Lot
0.0000,1
15
0.08
-0.17
EURJPY
50 Lot
0.00,1
15
0.02
-0.06
EURCHF
50 Lot
0.0000,1
15
0
-0.06
EURCAD
50 Lot
0.0000,1
15
0.32
-0.6
EURAUD
50 Lot
0.0000,1
15
0.72
-1.54
EURNZD
50 Lot
0.0000,1
15
1.49
-2.07
GBPJPY
50 Lot
0.00,1
15
-0.35
0.11
GBPCHF
50 Lot
0.0000,1
15
-0.31
0.09
GBPCAD
50 Lot
0.0000,1
15
0.23
-0.48
GBPAUD
50 Lot
0.0000,1
15
0.76
-1.68
GBPNZD
50 Lot
0.0000,1
15
1.44
-2.39
CHFJPY
50 Lot
0.00,1
15
0
-0.04
AUDJPY
50 Lot
0.00,1
15
-0.87
0.48
AUDCHF
50 Lot
0.0000,1
15
-0.98
0.48
AUDCAD
50 Lot
0.0000,1
15
-0.71
0.27
AUDNZD
50 Lot
0.0000,1
15
0.08
-0.62
CADJPY
50 Lot
0.00,1
15
-0.44
0.15
CADCHF
50 Lot
0.0000,1
15
-0.38
0.12
NZDJPY
50 Lot
0.00,1
15
-1.17
0.64
NZDCHF
50 Lot
0.0000,1
15
-1.03
0.56
NZDCAD
50 Lot
0.0000,1
15
-0.83
0.46
TRADING PLATFORM & MOBILE
ORBEX TRADING PLATFORMS & MOBILE Orbex offers MetaTrader 4 for desktop (PC and MAC and for mobile devices (iOs, Android, and Windows). It is particularly interesting that Orbex offers a free VPS server with multiple EAs available. There is also an MT4 MultiTerminal platform offering multilingual trading in 23 different Languages. ■ MetaTrader-4, MT4 MultiTerminal platform ■ Automated Trading and Hedging are allowed at ORBEX ■ Scalping is allowed for ECN accounts only ■ A demo account is available at ORBEX ■ Mobile Trading: ORBEX offers an app for iPhone, iPad, Windows, and Android devices ■ Trading server: GMT+2
NEW ACCOUNT INFORMATION
■ The minimum initial deposit required for opening an account is 500 USD.
■ Account Currencies: EUR, USD
ORBEX FUND METHODS
ORBEX Fund Methods: ■ Credit / Debit Cards ■ Bank Wire ■ MoneyBookers Skrill ■ Neteller ■ FasaPay ■ WebMoney ■ CashU Note: No fees when you fund or you withdraw money from your trading account
CONTACT INFORMATION
■ Orbex main offices Office 3501, 5th floor, Maximos Plaza Tower 3, Maximos Michaelidi Street, Limassol 3106, Cyprus ■ Orbex second offices Al-Tejaria Tower, Office 231, Floor 23 Al-Soor Street, Sharq, Kuwait
ORBEX Review Conclusions:
Orbex is an STP / ECN Forex broker that started operations in 2010 (former AFBfx). Orbex maintains headquarters in Cyprus and has offices also in Kuwait. The broker is regulated by CySEC and MiFID and registered with many other government bodies and it is a member of the local Compensation Investor Fund (CIF). The customer's funds are segregated from the company’s funds via Tier-1 banks. Overall it seems that Orbex offers its clients significant safety of money.
There are many different asset classes to trade. Orbex provides a great range of financial products including Forex, Precious Metals, Energies plus Future OTC Contracts, Equity OTC Indices and CFD trading. The Forex assets are presented in detail in one of the above sliders/tables of this review. All the available platforms are based on the popular MT4. There is an MT4 version for Windows and Mac but also a multilingual MT4 multi-terminal version. There are also versions of MT4 for smartphones and tablets (iOs, Android, and Windows). The minimum account is $500 and can be funded via cards, bank wire, Skrill, Webmoney, FasaPay, and CashU. The available account currencies are USD and EUR. There are no fees on deposits or on withdrawals. The broker does not offer a welcome bonus. Offerings include free education, webinars, daily market analysis, and detailed Forex trading signals.
As concerns Forex trading, the best trading terms occur in the two ECN account types:
(1) ECN Standard (minimum $500 deposit)
(2) ECN Advanced (minimum $25,000 deposit)
The EURUSD spread for these two account types starts as low as 0.6 pip. As concerns, the trading commissions charged, the commission for ECN Standard accounts is $10/lot and for ECN Advanced accounts the commission is $6/lot. Orbex ECN account types offer also high-speed trading and a free VPS hosting service. Combining tight spreads, with scalping allowance and the free VPS server we may conclude that Orbex is a good choice for Day-Traders and Scalpers Forex Traders. Another advantage of Orbex is the multilingual 24/7 customer support via email, phone callback, and live chat. They speak in more than ten languages including English, Arabic, Spanish, Greek, German, Bengali, Russian, Chinese, Bulgarian, and Urdu.
ORBEX REVIEW PROS & CONS (According to competition)
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ORBEX REVIEW CONCLUSIONS |
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ORBEX PROS |
ORBEX CONS |
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√ Regulated by CySEC, MiFID and registered with many other European bodies √ Segregated Client Accounts and participation in the domestic Investor Compensation Fund √ Multilingual customer support via Callback, Email, and Live Chat √ Very wide asset index including Forex Futures √ Automated Trading plus a free VPS server for Forex robots √ A free education and Forex webinars √ Daily analysis and free trading signals |
X Minimum Deposit $500 x No welcome bonus
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■ ORBEX Review
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