Orbex Forex Broker Review 2023: Unveiling the Ultimate Trading Experience

Orbex Forex Broker Review 2023: Unveiling the Ultimate Trading Experience

If you're looking for a top-notch forex broker, Orbex might just be the perfect fit for you. In this comprehensive review, we delve into the ins and outs of Orbex, providing you with valuable insights into its offerings, including the cutting-edge MT4 platform, account types, and minimum deposit requirements. Make an informed decision before you open an account and embark on your trading journey.

Unveiling the Orbex Company

Established in 2010, the Orbex group operates under two official entities: Orbex Limited and Orbex Global Limited. The former, located in Limassol, Cyprus, caters to European clients, while the latter is based in Mauritius, serving clients outside of the EU and adhering to local regulations.

Orbex's Trading Platforms

Orbex offers a range of advanced trading platforms, each designed to cater to the unique needs of traders. Here's a closer look at their offerings:

Orbex-MetaTrader 4 (MT4)

The MetaTrader 4 (MT4) platform seamlessly combines a user-friendly interface with a data-rich environment and advanced capabilities. With support for over 40 languages, MT4 provides deep market history, automated trading through expert advisors (EAs), and an impressive array of more than 50 technical indicators, 30 charting tools, and nine timeframes.

MT4 WebTrader

For traders on the go, the MT4 WebTrader offers a convenient browser-based platform accessible from any computer with an internet connection. This platform requires no downloads and replicates many functionalities of the desktop version. It supports one-click trading and offers 30 technical indicators, such as Elliott Wave patterns, nine timeframes, and a variety of charts, graphical tools, and order options.

MT4 MultiTerminal

Tailored for account and fund managers, the MultiTerminal platform allows access, monitoring, and trading on multiple accounts from a single location. Accounts can be grouped or managed separately, and the platform features its own internal communication system and automated report generation. Both MT4 and MT4 MultiTerminal can be installed on Windows, Mac, and Linux computers.

A Multitude of Tradable Assets

Orbex offers an extensive range of spot instruments and CFDs, providing diverse trading opportunities. Here's what's on offer:

  • Forex Pairs: Choose from 44 forex pairs, including 7 majors, 22 minors, and 15 exotics.
  • Commodities: Trade in seven commodities, including 3 energy resources and precious metals like gold.
  • Global Indices: Orbex clients can access 8 global indices.
  • Stocks: Trade in 66 of the most traded EU and US company stocks.
  • OTC Futures Contracts: Orbex also offers OTC futures contracts on indices, commodities, and energies.

Spreads & Commissions

Trading costs and commissions vary based on the selected account type. Here's a breakdown:

  • Fixed Account: Offers fixed spreads at 1.9 pips for forex pairs with no commissions.
  • Starter Account: Provides floating spreads with minimum spreads as low as 1.7 pips and zero pip spreads available for Premium and Ultimate accounts.
  • Premium Account: Subject to an $8 round turn commission.
  • Ultimate Account: Charges a $5 commission.

Orbex also charges swaps for holding positions open overnight, except for Islamic trading accounts, which are exempt from this fee.


Orbex offers competitive leverage rates, reaching up to 1:500 for forex pairs on all accounts. However, to manage margin trading risks, leverage rates are capped at 1:100 for trading in volumes of over 40 lots. The maximum leverage rates for indices are 1:100, with Chinese indices capped at 1:20. Commodities can be leveraged at either 1:100 or 1:50, and stock CFDs are limited to 1:5. For EU retail traders, leverage is capped at 1:30.

Mobile Apps

For traders on the move, Orbex offers a mobile version of the MT4 platform. The app supports all order types available on the desktop version, though it provides fewer charting and indicator options. It's compatible with both Android- and iOS-powered mobile devices, receiving positive reviews from mobile traders.

Payments and Withdrawals

Orbex facilitates deposits and withdrawals through various methods, ensuring a hassle-free financial experience. Supported payment methods include payment cards (Visa and Mastercard), Skrill, Neteller, WebMoney, Fasapay, and bank wire transfers. Deposits typically take up to two hours to reach your account, with the minimum accepted deposit set at $200. E-wallet withdrawals are processed within 24 hours, while payment cards and bank transfers may take three to five business days. The best part? There are no deposit or withdrawal charges.

Demo Account

Orbex recognizes the value of practice and offers a demo version of each account type. These practice accounts come preloaded with up to 5,000,000 EURO/USD/PLN in virtual funds. While using real market data, these accounts use simulated money, providing a risk-free opportunity to explore new strategies, EAs, and platforms.

Deals & Bonuses

At present, Orbex doesn't offer no deposit bonuses or welcome deals. However, traders can access a free VPS, regular market analysis, and a collection of valuable video tutorials to enhance their trading experience.

Regulatory Assurance

Orbex Limited operates under the Cyprus Securities and Exchange Commission (CySEC) and is compliant with the EU Markets in Financial Instruments Directive (MiFID II). This allows Orbex to offer trading solutions within Europe. Additionally, Orbex Limited is a member of the Cypriot Investor Compensation Fund (ICF), providing added protection to clients up to €20,000 in case the broker is unable to meet its obligations.

Orbex Global Ltd is licensed and regulated by the Mauritius Financial Services Commission (FSC). The broker can offer its services outside the EU, subject to local regulations. However, it cannot operate in regions where domestic regulations prohibit their activities, such as the US, Cuba, Sudan, Syria, and North Korea.

Additional Features

Orbex goes the extra mile to provide an enriched trading experience through various features:


Orbex offers a free virtual private server (VPS) for traders, allowing 24/5 market access for automated trading, even without an internet connection. These servers support MT4 EAs and provide faster executions than the desktop platform.

Orbex Strategizer

The Orbex Strategizer is a powerful tool that enables the creation of algorithms and EAs without the need for coding or programming. Using visual tools, you can add stop losses, trailing stops, signal rules, trade timings, and logical algorithms. Best of all, it's free and integrates seamlessly with MT4.

Education Centre

Orbex boasts a well-equipped education center with a range of free learning resources. While some are limited to Premium and Ultimate account holders, others are accessible to all. The resources include free ebooks, video training courses, a webinar series, online lessons, and Orbex Web TV—a video blog offering daily and weekly technical reports, financial news, forecasts, and research.

Trading Central

Orbex also offers Trading Central, a plug-in that integrates with MT4. This tool provides investment and economic analysis, as well as analytic forecasts and trading tips.

Account Types

Orbex caters to traders with varying experience levels and requirements by offering four distinct account types. Each account type offers a maximum leverage of 1:500, stop-outs at 20%, and the option to use a free VPS. Here's a quick overview of the account types:

Fixed Account

  • Regular training sessions
  • No commissions
  • Basic education
  • $500 deposit
  • Fixed spreads
  • Free signals
  • No scalping
  • No EAs

Starter Account

  • Regular training sessions
  • Variable spreads
  • No commissions
  • Basic education
  • $200 deposit
  • Free signals
  • Scalping
  • EAs

Premium Account

  • 1-on-1 training sessions
  • Advanced education
  • Spreads from 0 pips
  • $5,000 deposit
  • $8 commissions
  • Premium signals
  • Scalping
  • EAs

Ultimate Account

  • 1-on-1 training sessions
  • Advanced education
  • Spreads from 0 pips
  • $25,000 deposit
  • $5 commissions
  • Ultimate signals
  • Scalping
  • EAs

For Islamic traders, Orbex offers swap-free versions of each account type, although Islamic accounts are subject to additional commissions.

Trading Hours

Orbex adheres to industry-standard trading hours to ensure you can trade when it's most convenient for you. Forex markets are open 24/5, starting at 23:00 EEST on Sundays and closing at 22:30 EEST on Fridays. Commodities trading hours are from 00:00 EEST on Mondays to 22:30 EEST on Fridays, with a daily break from 23:00 to 00:00 EEST. Stocks and indices have varying opening times based on their respective stock markets.

Customer Support

Orbex takes pride in its large, multilingual customer service team, offering support to traders 24 hours a day, five days a week. You can reach out to the team through multiple channels:

  • Live Chat: Located in the lower right corner of the website.
  • Global Telephone Number: +962 6 5622268
  • MENA Telephone Number: +965 22968150
  • EU Telephone Number: +44 2035 198 170
  • Email: support@orbex.com

Safety and Security

Orbex prioritizes the security of your data and funds. Sensitive information is backed up, and all transfers use Single Sockets Layer (SSL) encryption. The broker also complies with security standards set by the regulatory agencies under which it operates. Moreover, client funds are fully segregated from the company's capital in tier 1 banking institutions, ensuring that your money is used exclusively for executing trades and facilitating withdrawals.

Pros and Cons


  • Access to additional trading tools, including integrated Trading Central analysis and a free VPS.
  • Comprehensive educational resources, including monthly webinars suitable for traders of all experience levels.
  • 24/5 multilingual customer support through telephone, email, and live chat.
  • Swift deposits and withdrawals through the secure Orbex wallet, with no associated fees.
  • Orbex prepaid card and mobile app for convenient fund management and trading.
  • Membership in the Investor Compensation Fund, safeguarding client funds.


  • Prepaid card available only to clients in the Gulf Region and Palestine.
  • Lack of copy trading solutions.
  • No top-tier regulation.

In summary, Orbex is a formidable forex broker offering a wide range of tradable assets, the acclaimed MT4 platform, a free VPS, and an EA builder. While it doesn't offer social trading or cryptocurrencies, Orbex still delivers a comprehensive and well-rounded trading service.

Orbex is a well-established broker that caters to traders of various skill levels. If you're seeking a reliable platform to execute your trading strategies, Orbex is certainly worth considering.

Orbex Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.


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