Orbex (formerly AFBFx) is an international forex and CFDs broker that is based in Limassol, Cyprus and is regulated by CySEC to offer currencies, precious metals, commodities and indices.
|#||Broker's Features||ORBEX Availability|
|#||Accepts US traders||❌|
|#||24 hour trading||✔|
|#||Trading by phone||❌|
|#||1st deposit bonus||❌|
|#||Forex contests competitions||❌|
|#||Interest charges on the balance||❌|
|#||24 hour support||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Orbex.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Orbex offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Futures.
Tradable Products: At Orbex, you can trade in 4 different classes of assets. These include forex, commodities, precious metals and indices.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Orbex is Dealing Desk, ECN, STP.
Features: With Orbex, you have access to a high leverage ratio of 1:500. In addition, you have the option to trade with fixed spreads or with variable spreads. You can use the MT4 platform of FXStat Tradebook for copytrading.
As Orbex offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, Orbex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Orbex recommended minimum capital is $500.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Orbex is regulated by BaFin, CySEC, FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: As a financial services provider that is based in Cyprus, Orbex comes under the jurisdiction of the Cyprus securities Exchange Commission (CySEC). Orbex is authorized under the CIF license number 124/10 and is compliant with European Union MiFID regulatory framework.
Languages Available: Next lets have a look at each broker's different Language options. Orbex offers Arabic, Bengali, Chinese, English, French, German,.
Payment methods: Next lets have a look at each broker's payment options. Orbex offers Credit/Debit Cards, FasaPay, Moneybookers, Neteller, Skrill, Union Pay different payment methods for each account types.
Deposit and withdrawal: You may fund deposits though bank wire, debit and credit cards and e-wallets. Orbex does not charge any withdrawal fees but you may still be subjected to Intermediaries or bank fees.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Orbex makes MT4 available to clients.
Web & Desktop Trading Platforms:
Mobile Trading Platforms: The mobile trading app allows users to make trades, keep abreast of all the developments in the market, analyze the markets and check your trading account.
The educational materials provided by Orbex for its traders are comprehensive covering webinars, video courses, ebooks and tutorials.
Orbex does not have any form of promotional offers or bonuses due to the restrictions imposed by CySEC.
Speak to the team in 14 languages, over the telephone, live chat, fax or by email.
Orbex claims to ensure that all transactions on its platform are 100% secured, that all data that passes through the broker’s servers are encrypted using the latest security technology and that all clients’ personal information is kept in the strictest confidence. Fund protection through segregation of client funds and onsite data encryption plus an investor compensation scheme up to 20,000 euros.
Orbex is suitable for both beginners and experienced traders. This is seen from the types of available trading accounts to the educational materials provided by Orbex.