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Is Orbex a Brokerage Traders Can Trust?

Is Orbex a Brokerage Traders Can Trust?

It is easy to pin one’s trust on a brokerage that had proven itself through industry tenure and its experience. Pinning the blame on a brokerage when trades fall? Even easier. 

Traders come in all shapes and sizes and they are definitely far from being perfect. However, when they employ the sound trading strategies, their transactions become eligible to greater profits. When one conducts organic research for reviews about the brokerage firm, Orbex, one may easily be pulled into the trading through the firm. And why traders shouldn’t be enticed by the firm’s services? Let us count the ways:

  1. Due regulation by two well-known financial authorities
  2. Instant deposit and withdrawal processes (within 24 hours)
  3. Competent spreads
  4. Constant availability

These are just a few that can be mentioned preliminarily in the review team’s findings. And with these initial data, Orbex is already geared towards being a candidate to good Forex firms. 

Is Orbex a Brokerage Traders Can Trust?

What to Expect from This Review

To serve the cause of rendering a pointed assessment of the firm’s services, the review team had taken it upon itself to perform an exhaustive examination of Orbex’s offers and trading implements. 

This review is a result of months spent with the brokerage. The review team had made sure to use even the functions of Orbex’s live site just to see how it fares if ever interested parties would us the site to get preliminary information about the brokerage. In so doing, the review would be able to come up with a holistic evaluation of the firm’s capabilities. 

The review team had focused on the following facets during its examination of the brokerage:

  1. The financial authorities responsible for Orbex’s regulation
  2. The financial markets that the firm gives its clients access to
  3. The trading accounts that are available to Orbex clients
  4. The trading platforms that the firm offers

About Orbex

Formerly known as AFBX, Orbex is brokerage firm that specializes in trading Forex Currency pairs. The firm was established back in 2010 and is at present based in Limassol, Cyprus. Orbex goes regulation under the highly-trusted regulators, Cyprus Securities and Exchange Commission (CySEC) to administer trades within Cyprus and the Financial Services (FSC) Mauritius to conduct trading operations within the Republic of Mauritius, an island nation in the Indian Ocean.

Being duly regulated, trusting Orbex comes easy to its clients and other possible interested parties. As this is the case, possible allegations of fraud and scamming can be chalked up to two things: inefficient trading strategy or bad handling of trades.

Fact of the matter is, while having the back-up of a trusted and legitimate brokerage firm such as Orbex is most recommendable in the conduct of good trading conditions, its success is still reliant on one’s trading strategy. As this is the case, the success of a trader in his or her transaction still lies in his or her hands. 

Is Orbex a Brokerage Traders Can Trust?

Offers and Services

Accessible Trading Instruments 

Cash Indices 

Five (5) cash indices are available to Orbex traders, namely, US30, NAS 100, Germany 30, UK 100, SPX500, and CHINA50. The required margin are effectively reserved for positions of Buy and Sell within the same account. In addition, Swap Rates are also subject to change without the traders being notified prior. 

Energies

The energy commodities that traders can access through the broker are crude oil and natural gas. Note that these energies markets are highly-volatile as these are affected directly by world events. The Stop/Limit Order levels are subject to variations throughout the streaming of economic news or unusual market situations. These are subject to change without giving the traders a heads-up.

Forex Currency Pairs

Orbex allows for the trading of 44 currency pairs which include Major Pairs, Minor Pairs, and a couple of Exotic Pairs. Forex traders are allowed a Maximum Lot per Trade of 50 and the margin is pegged at 1:100. 

Precious Metals

Much like Forex trading, Spot Metals are traded for 24 hours. The Spot Metals available through the broker are Gold (XAG), Palladium (XPD), and Platinum (XPT). These metals could be exchanged with the U.S. Dollar. 

Stock CFDs

Orbex offers a wide range of the Stock CFDs amounting to a total of 66 which are subject to corporate actions. The leverage is up to 1:5 with no commissions. The broker allows for the trading of CFDs through the MetaTrader 4 (MT4) platform. 

The review team lauds the brokerage for being able to give access to these markets as it allows for greater selection of which asset to trade. As this is the case, the traders are given the chance to build a well-rounded investment portfolio.

To give the readers of this review a quick idea of what to expect with Orbex’s offerings, refer to the table below. 

FEATURESTRADING ACCOUNT TYPES
FIXEDSTARTERPREMIUMULTIMATE
Minimum Investment$500$200$5,000$25,000
Spread Fixed SpreadVariable SpreadStarts From 0 PipStarts From 0 Pip
CommissionsNoNo$8$5
Leverage Up to 1:500Up to 1:500Up to 1:500Up to 1:500
Webinars MonthlyMonthlyExclusive Webinar + Live TradingExclusive Webinar + Live Trading
ScalpingNoYesYesYes
Trading CentralYesYesYesYes
Signals Free SignalsFree SignalsPremium SignalsUltimate Signals
EducationBasicBasicAdvancedAdvanced
Training Sessions20%20%20%20%
Stop OutYesYesYesYes
VPSNoYesYesYes
EAsNDDNDDNDDNDD

What jump out from the table are the following:

  • The similar leverages
  • The training sessions at 20%
  • Similar Stop Out levels
  • Availability of the EAs

These observations may be seen as criticism to the cost of each trading account. Regardless of the high value placed on the Premium and the Ultimate Accounts, the matter stands that they share the same level of the aforementioned features with the Fixed and the Starter Accounts.

Also, there seems to be a great discrepancy between the Premium and the Ultimate Account, with the latter not having any additional offers. 

Offered Trading Platforms

Orbex offers the MetaTrader 4 platform across all accounts.  Such an offering is seen as wise, given that the platform itself is reliable, thus allowing for the brokerage to be seen as the same.

Most importantly, the MT4 platform offers a wide range of technical indicators and add-ons on an already intuitive and neat user interface. 

Trade with Orbex Today!

With all the points that had been discussed within the review, it is easy to assume that trading with Orbex would prove to be a lucrative endeavour. The following had been found to be true with the firm:

  1. Orbex regulation under two trustworthy regulatory bodies: CySEC and FSC Mauritius
  2. A wide range of offered trading instruments
  3. The offering of the MT4 platform
  4. Competitive spreads for each traded commodity

The only thing that the review team recommends that Orbex reconsider is its offers against the more costly trading accounts that it offers. Apart from this, the review team sees no red flags that would have traders veering away from it.