Since 2010, the Orbex brokerage is one of the best forex broker in the world has been offering its services. While the Mauritius Financial Services Commission governs Orbex Global Limited, Orbex Limited is overseen by the Cyprus Securities and Exchange Commission (CySEC) (FSC). The broker provides access to currency pairings, CFDs on equities, indices, energy resources, and precious metals. In 2020, MENA will name Orbex as the top Forex broker in Europe and the Middle East, according to the Global Banking and Finance Review.
The possibility to select an account with a different amount and kind of spread, the use of trading advisors, the ability to copy deals, and protection against a negative balance are all benefits of trading with Orbex.
Orbex’s shortcomings include the absence of a list of the ideal trading terms for newcomers;
There is no cent account available for new traders and those looking to try the broker’s services; the only trading terminal open is MT4. The customer support team responds within 24 hours; there is no MT5 or online platform.
Regulation and Security by Orbex
The possibility of scams and malpractice will be reduced when trading with a regulated broker. I usually advise traders to look for regulation and confirm it with the regulator by cross-referencing the given license with their database. Orbex offers its international client’s regulated entities in Cyprus and Mauritius and upholds a secure business environment.
Orbex, is it safe and legal?
Since 2010, Orbex has maintained a legal and secure trading environment. It gained the trust of its growing international clientele thanks to its more than ten years of operational experience and spotless regulatory history. The FSC, a reputable regulator, provides brokers with a business-friendly atmosphere and ensures safe trading conditions for investors. Since 2018, it has regulated Orbex. The FSC’s standards and capital requirements are wholly complied with by Orbex. Additionally, Orbex is licensed by CySEC.
Negative balance protection is present for leveraged trading, and Orbex separates client deposits from business funds. The only thing the security product at Orbex is missing is third-party insurance in the unlikely event that this multi-asset broker defaults.
Fees Because trading expenses have a direct impact on profitability, I consider them to be some of the most critical factors when assessing a broker. Orbex charges more for trading in its commission-free account, but its commission-based version brings those expenses down to the industry average. For deposits over $25,000, there is intense price competition.
Trading in the commission-free trading account requires a minimum spread of 1.5 pips, or $15.00 for a round lot, for traders with deposits under $500. The commission-based alternative offers traders raw spreads on significant currency pairs for an industry-average cost of $8.00 per round lot. For deposits of $25,000 or more, Orbex provides a highly competitive cost structure that reduces commissions to $5.00 per lot.
Here is a sample of Orbex quotes from the most liquid session the best time to trade, the London-New York overlap, when spreads are often the lowest.
By following these steps, MT4 traders can get swap rates from their platform:
- Right-click the selected symbol in the Market Watch window and choose Specification.
- Continue scrolling until Swap Long and Swap Short appear.
The commission-based Premium account’s trading costs for buying and selling the EUR/USD, holding the trade for one night and seven nights, are shown below.
Technology
To offer traders the most recent developments in trading tools, security safeguards, and trading conditions, Orbex prioritizes the continuous evolution of financial technology. Orbex provides award-winning MetaTrader platforms with proprietary indicators, highly encrypted data protocols, and FIX API technology for seamless and secure execution.
Instant Withdrawals & Deposits
Use the safe Orbex Wallet to fund instantly, transfer, and withdraw money from your account. The practical investing tool expedites the KYC queue for you, speeds up the funding of your account, and helps you reduce risk by keeping your assets separate. There are numerous payment methods that Orbex accepts, which are listed here.
Multilingual Customer Service Available 24/7
The foundation of our long-term success as a provider of financial services is exceptional client service. To guarantee that all traders receive attentive, effective, and prompt responses, Orbex features a strict support agent training programmes. Service is provided by live chat, phone, or email in different languages, and a comprehensive customer support help centre handles a wide range of inquiries.