Orbex is a safe and reliable broker with everything a Forex trader could need. Orbex provides a comprehensive educational program as well.
Orbex is an online forex broker that was founded in 2010 and is based in Limassol, Cyprus. Although the ORBEX brand is a fairly new name among the online trading community, it is already recognized as one of the most promising brands in the industry.
As a plus
- High level of customer service
- Fast and reliable orders execution
- Quick and simple withdrawals
- Online trading lessons
On the flip side
- Relatively high initial deposit
- Stocks, ETFs and Cryptos are not available for trading
Orbex is a safe and reliable broker which offers a wide range of markets to cater to professional traders and provides beginning traders with a comprehensive educational program as well.
For this review we tested Orbex standard account, plus we collected secondary information from reputable sources as well as user generated reviews.
Orbex is a fully licensed and regulated Cyprus Investment Firm (CIF license # 124/10) supervised by the Cyprus Securities and Exchange Commission (CySEC). Broker is authorized to trade internationally, specializing in CFD online trading on currencies, commodities, futures, and indices. Also, Orbex is a member of the Investors Compensation Fund which means that each trading account has a protection of up to 20,000 euro in the case that the broker becomes insolvent.
What do Forex & CFD websites and customers say about Orbex?
Although nowadays there is plenty of information available on every broker, this does not make it easier to take a thoughtful decision. The abundance of information can quickly become overwhelming and confuse traders rather than provide a clear answer and choice.
We’ve reviewed authoritative user-generated and broker listings/reviews websites to, hopefully, offer more clarity on the reception among its clients.
Most of the websites of this kind offer a raw stream of consciousness by angry and happy traders alike. It is, therefore, important to keep in mind that some of the reviews will offer nothing new or insightful.
Given teh fact that a lot of traders lose funds, and may go to the websites like Forex Peace Army (FPA) to complain, we aim at distinguishing more subjective from less subjective reviews and offering our limited view on the situation.
Forex Peace Army (FPA)
Being one of the most trusted user-generated Forex and CFD communities, FPA is making sure to mediate communication between traders and service providers. Orbex receives a decent star rating average of over 3.5 stars.
While reviews from non-user generated websites are usually better structured and more in depth, they may also fall short on the objectivity spectrum. Brokers do incentivize many third party-websites to write favourable reviews. To get the most out of the review process, make sure to check multiple sources and examine their credibility.
You can find the feedback from Elite CurrenSea’s clients on our website and in FPA. We do provide incentives to our clients to open an account with our trusted brokers, you can learn more about that in our ecs.TradersClub loyalty program.
Keeping in mind the info above, we can attest that Orbex reviews appear to be mostly positive with only a few minor discrepancies from lesser known and sometimes suspicious websites.
The customer service team is available 24/5 (Monday-Friday) and speaks 10 languages including English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu and Greek. It can be accessed via live chat, phone, or email. Traders can also leave a message or request a call back.
Nevertheless, we suggest that traders read the extensive FAQs page on the Orbex website before contacting the support team, as there is plenty of useful information that we found helpful.
The website itself looks intuitive and modern and is available in English, Spanish, Bengali, Chinese, German, Polish, Vietnamese, Arabic, Persian, Japanese, Russian, Urdu, Indonesian, Italian.
Account Types and Execution
Orbex offers its individual clients 4 types of accounts: CLASSIC, STANDARD, PREMIUM, VIP with fixed and variable spreads. There is also a level of flexible leverage that can reach to a maximum of 1:500, which is considered a comparatively high ratio. The minimum deposit to open an account can be as low as $500.
Orbex offers one type of order execution (market execution) on all account types for corporate and individuals. All orders are filled according to the fair market value.
|CFDs on Forex||1:500||1:500||1:400||1:500||1:300||1:300|
|CFDs on Commodities||1:20||1:500||1:400||1:200||1:200||1:75|
|CFDs on Indices||1:20||1:500||1:400||1:500||1:150||1:75|
A total of 36 currency pairs are available, ranging from major to minor and some exotic pairs as well. At the moment of the review, leverage available for trading CFDs on Forex was 1:500.
As of 2018, you can find 5 indices to trade as CFDs. This includes: US30, GER30, SPX500, NAS100, UK100. At the moment of the review leverage available for trading CFDs on indices was 1:20.
Traders are able to trade traditional commodities such as Metals (Gold, Silver) and Energies (Oil). At the moment of the review leverage available for trading CFDs on commodities was 1:20.
There are a variety of ways of depositing and withdrawing cash from your Orbex account. Broker accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, WebMoney etc.
The account funding process is normally open for 24 hours a day and it is fully automatic and usually takes up to 2 hours. Orbex doesn’t have any hidden comissions and fees.
All withdrawal requests are processed quickly (up to 24 hours), but all clients are advised to have all internationally mandated identity information on file before a request is submitted.
An award-winning and user-friendly Orbex platform is built on the renowned MetaTrader 4 (MT4) software and provides Desktop, Mobile, Web, iOS versions, and Multi-Terminal (designed exclusively for professional traders and money managers and enables clients to manage multiple forex trading accounts simultaneously).
The MT4 is the most known and used software in the industry because of its advanced chart features, multilingual support, security and reliability, along with the support of various trading styles, indicator options and own strategies performance through Expert Advisors.
Moreover, there are extra Platform add-ons that bring even more convenience to your trading:
- Trading Central offers a powerful informational support that is provided to every Orbex client. It makes sure that key data and detailed technical analysis are reachable. Trading Central is a market leading third-party supplier of the multi-asset indicators and features.
- The Orbex Trade Lab is a sharing system that allows traders to a) follow trading ideas or b) post your own among the community. The platform is available for Demo and Live account holders and combines copying capabilities within online trading.
- Orbex Strategies is an algorithmic trading system that does not require any programming skills for building an EA. The powerful strategy is a key feature that can be applied directly on MT4 platform and is performed via a cloud incorporated VPS.
- Free VPS service offers a hosting advantage to run an EA 24/5 on increased execution speeds. Virtual Private Server allows all trading strategies on NDD execution with no requotes or slippage with floating spreads from 0.8 pips.
- FXStat TradeBook provides trading signals to followers. It also offers automatic trade copying services from hundreds of professional traders, which is directly integrated into Orbex platform. The technology shows dynamic positions and analysis with complete control over the portfolio and investments.
You can also benefit from premium trading tools and trading community access (available for MT4) with up to 25% discount if you join Orbex via Elite CurrenSea. Just register an account with both Elite CurrenSea (choose Orbex as your broker) and Orbex using our link or contacting your account manager and letting them know that you are joining Orbex via the Elite CurrenSea website.
Research, Education & Analysis
One of the distinguishing features of the broker is its Forex Trading Blog section. The research includes daily technical/fundamental analysis, weekly FX reports and Orbex Web TV broadcasts with all market news and updates hosted by Orbex analysts covering Forex, commodities, and indices in addition to exclusive CFD and forex trading opportunities.
The Education part contains a lot of usuful materials for traders with all skill levels, such as: trading psyhology and strategies articles, eBooks, tutorials, stories, infographics, interviews, trading tips and many more.
Some interesting trading tools also available:
- Economic calendar
- Pip/Risk/Margin/Pivot Point Calculators
- Trading glossary
Last but not least, don’t forget that you can open up an account with Orbex and get 25% discount on Elite CurrenSea tradings systems and tools.
Fly or Fry Verdict
Orbex has it all, from an intuitive and modern website with easy access to professional support and from excellent pricing and execution to a variety of accounts designed for both newbie and professional traders. Orbex provides a comprehensive educational program with real time access to news reports and analysis as well.
Research done by Chris Svorcik and Nenad Kerkez Co-founders of Elite CurrenSea, Nenad and Chris are award-winning traders with over 10 years of technical analysis and teaching experience. They also offer education and technical analysis on top industry websites and constantly works on his proprietary trading system based on wave analysis ecs.SWAT and technical analysis ecs.CAMMACD.
Trade with ORBEX via Elite CurrenSea – Special Offer
To get the special discounts open an account with ORBEX via Elite CurrenSea. We value ORBEX for its trading conditions, integrity, and strong worldwide regulatory status.
Free ecs.LIVE subscription
You will receive a 3 months of ecs.LIVE subscription access, where our Research Team publishes Entry, SL, TP levels on FX, weekly webinars and premium analysis on currencies, stocks, crypto & commodities as well (usually €295).
How to Get the Special Offer?
* Make sure You have an account with Elite CurrenSea
* Open an account with ORBEX using the link on our website
* Deposit at least $700*
* Reach us out via a contact form with a proof of deposit (screenshot) and your MT4 account number. Then we will give you access, send you a link to pay for a discounted product or answer your question within the same day.
* An important notice: We provide discounts only to traders who deposit & trades with the underlying broker. If two weeks after the deposit we notice no activity without prior clarification, we will assume that is was made solely to receive free ecs.LIVE, hence, the access to ecs.LIVE will be removed and user banished from the community. If you have a valid reason to wait with trading or need to make a withdrawal due to unforeseen events please contact us whithin reasonable time. We Hope for your integrity and understanding. If you prefer to trade with another broker take a look at trusted providers section.
Regardless of the account size, ecs.LIVE & Trading Systems offer a strong set of tools to noticeably grow Your account, however, if you are looking to grow Your equity in a faster pace an optimal deposit could be within $2,000 to $10,000 range.