Orbex Review – Important Questions To Ask About the Broker

Orbex Review

Orbex is a broker company established in Cyprus that offers its clients trading services and educational opportunities while consistently developing its software. This broker also has representation offices in Kuwait, Jordan, and MENA regions.

It is constantly expanding to provide its services to more people across the globe. Orbex is considered low-risk trading and it is heavily regulated by CySEC.

Leverage

Leverage is when the broker offers a loan to traders to potentially increase trade and increase profits. The leverage levels of a broker are determined by the regulations and restrictions set by the authorities. Orbex offers leverage up to 1:1500. With a confirmed status, professional traders may have access to higher leverage. You should always make sure to read the conditions and policies.

Accounts

Orbex offers 4 types of accounts to suit traders of different levels with different preferences. Moreover, this broker also offers an Islamic account which is SWAP-free since interest is prohibited in Islam.  The starter account has no commission fee and has leverage levels up to 1:1500.

The minimum deposit for this account is $100. Users of this account can access tools like market analysis while trading over 300 instruments. These instruments include cryptocurrencies, indices, commodities like gold and metals, and shares.

The premium trading account has raw spreads starting from 0.0 pips. The minimum deposit here is $500 and the commission fee is $8 per lot. The leverage levels on this account are also upto 1:1500. Users of this account will have access to educational material, personal trading lessons along with market analysis, updates, and opportunities to trade over 300 instruments.

The Ultimate account has features including a $5 commission per lot, and a minimum deposit of $25,000. Similar to the premium account, you can access educational material, and market analysis along with exclusive webinars. Users of this account can also use Orbex standard features.

Lastly, you can create a demo account to get familiar with all the tools and understand how this broker works. This is best for new traders who are not very experienced and may take some time to clearly understand strategies and risks.

Fees

The fees at Orbex are based on commissions. There is no charge for variable spreads, a commission fee of $8 for raw spreads on the premium account, and a fee of $5 for raw spreads on the ultimate account. Commodities are $0. There is no deposit or withdrawal fee. Even though there is an inactivity fee, it is low in comparison to brokers like eToro.

Deposit and withdrawal

Orbex has one of the fastest transactions. It offers several payment options including Neteller, Skrill, Wire transfer, and credit and debit cards. The minimum deposit is $500 based on CySEC regulations. However, this may vary depending on which account you use. International traders can have the advantage of having a minimum deposit of $200.

This broker processes withdrawals through trading account form summit. Orbex itself does not charge any deposit or withdrawal fees, but you should always check with your local banks to ensure if there are any internal fees charged on your withdrawal.

Trading platforms

Orbex is built on MT4 platform. It provides desktop, mobile, and web platforms for maximum accessibility. The web platform works on every platform, but research tools, customization, and drawing are limited.

Desktop platform is best for professional traders. Here, you can have access to charts, order types, analytic tools and even perform auto-trading. This broker also offers free VPS service.

Orbex offers mobile apps for both iOS and Android. Using the mobile platform you can stay updated with all the market changes. You can also manage your account directly from your phone. This is especially convenient for people who don’t always have their laptops with them.

Conclusion

Orbex is a highly reliable brokerage company which aims to give you the best trading experience with its large variety of tools and features. There are several free tools and a customer support staff is available to help you if you have any questions or doubts. Traders who are beginners will especially find this broker convenient and accessible as it caters to most of their needs.