Orbex, previously known as AFB FX, is a regulated forex and contracts-for-difference broker known to have received ‘distinguished’ rewards through the years in the forex arena. Having been in operation since 2011, Orbex has acquired a reputation as a trusted and reliable investment broker. Headquartered out of Cyprus, orbex.com is regulated by not only local but also other European regulatory entities. Known for their educational program and trading platform, Orbex is referred to as a broker that should be considered by all investors searching for a regulated brokerage.
Who is Behind Orbex?
The About Us page offers a good amount of information regarding the features provided on the site but not much information in regards to the identity behind this brokerage. By tracing down their regulatory license numbers we narrowed down that the company associated with Orbex is ORBEX Ltd. This brokerage is fully licensed and regulated by a multitude of different regulatory entities like CySec under License Number 124/10.
Found on the Contact Us page on the site, the head office for Orbex is located at Office 3501, 5th floor, Maximos Plaza Tower 3, Maximos Michaelidi Street, Limassol 3106, Cyprus. The telephone number provided for their main office is +357 25588855. Furthermore, Orbex support can be reached through live chat or through email at email@example.com.
The domain, orbex.com, was registered on August 8th, 1995. Leading us to deduce that this domain was likely a separate launch more during the midst of the vanilla options and early foreign exchange era. As of 2017 though, Orbex is widely considered to be a leading forex and contracts-for-difference brokerage.
Orbex enables investors the ability to day-trade both forex and contracts-for-difference options. This means that investors are able to invest currency pairs, commodities, and indices. Due to the simplicity of Orbex’s platform structure investors aren’t provided with a wide array of trading styles besides the usual Call/Put contracts that can vary between short term and long term expirations. Return rates are competitive with Orbex when compared to other forex and CFD related brokerages.
Orbex Account Types
There are four separate accounts types available at Orbex. The most remedial and starter membership package would be Classic account. Classic account requires a minimum initial deposit of $500 and offers a spread of 1.9. A leverage of 1:500 is offered while the Stop Out is offered at 20%. Free Expert Advisors (EAs) and VPS (virtual private server) hosting is allowed with this account type and all the following ones to come.
Secondly, we have the Standard account, which is essentially the same as the Classic account besides a couple variations. Again, the initial deposit required is $500 while the spread offered is as low as 1.5. Scalping is available through this account type along with a leverage of 1:500 and a reported Stop Out of 20%. Expert Advisors and VPS hosting are offered free of charge through this package which leads us to advise investors to consider opening a Standard account instead of the Classic account.
Further up the ladder we have the Premium account. Spreads are offered as low as 1.2 with the same leverage of 1:500. The minimum deposit required is $5,000 and essentially all the same trading perks are offered through this membership package as both the Classic and Standard account. Investors who start with this package will receive more advantages in regards to the educational aspect provided along with an account manager who is supposed to assist you with the well-being of your account.
Last but not least we have the VIP account which comes with a price tag of $25,000. The spreads offered are as low as 0.8 with the same leverage of 1:500. All the same perks are available through this account type except with more emphasis on the educational aspects and the efforts exerted by your account manager. All-in-all you aren’t provided with many more advantages when compared to the Premium account so ideally we don’t advise investors to get started with anything more than the Premium account.
It should be noted that return rates along with bonuses are increased the more premium you make your membership.
Orbex Trading Features
Due to orbex.com being both a forex and contracts-for-difference broker the trading features offered through this platform are plentiful. Although the spreads and leverage offered are competitive at best other trading features like Copy Trading (social trading) are enabled. Perhaps the most appealing characteristic about the trading platform would be how it is MetaTrader4 based. Meaning that investors who possess the charting solution MetaTrader4 (MT4) are able to execute their investments through their charting solution rather than having to navigate between separate windows.
Other unique advantages of Orbex would be how they publish Weekly FX reports, offer free tutorials and educational resources along with investment calculators. The investment calculators offered allow investors the ability to calculate risk, pivot points, pip and margins, and currency exchange rates. While all these perks may be beneficial and common among other brokerages the most sought out perk provided would be the free demo account.
Orbex is a relatively popular site with a SimilarWeb global ranking of 312,358 at the time of posting this review. Almost 30% of the visitors viewing the site reside within Turkey, Brazil, United Kingdom, United States and Jordan.
In addition, Orbex receives the majority of their traffic from reviews that originate from Google search queries. Other considerable sources of traffic can be contributed to YouTube channels reviewing this site along with Facebook. It appears that this brokerage reflects a strong social media presence and is considered trustworthy on a wide number of review sites.
Orbex Review Conclusion
Orbex appears to be a rather competitive forex and contracts-for-difference brokerage. They are regulated not only by CySec but numerous other regulatory agencies. If you do decide to pursue an account with Orbex, we recommend getting started with their demo account first that way you can acquire a better understanding of how the trading platform works before shelling out your money.
Please share any experience or knowledge you may possess about Orbex – positive or negative – by commenting below.