Orbex.com was founded in 2011 and is licensed by the Cyprus Securities and Exchange Commission (CySEC), #124/10. Orbex is formerly known as AFB FX, and has received numerous industry awards and accolades for their quality customer service team, low prices, and excellent educational program.
This broker review will cover all of what you can expect when trading with Orbex.com.
Orbex offers three Universal accounts and two ECN accounts. Here’s an outline of each account requirements.
- Universal Mini – For new traders, this account requires a $500 minimum deposit and allows leverage of up to 1:500. With no commissions, spreads are fixed at 1.9 pips. Scalping is not allowed.
- Universal Standard – Requires a minimum initial deposit of at least $3,000, comes with 1:300 leverage, and fixed spreads on major currencies of just 1.5 pips.
- Universal Advanced – A deposit of $50,000 is required for this account. It comes with 1:100 leverage, fixed spreads of 0.9 pips, and no commissions.
- ECN Standard – Requires a $500 minimum deposit. Includes 1:300 leverage, floating spreads as low as 0.6 pips, commissions of $10 per 1 whole lot, and scalping is allowed.
- ECN Advanced – Requires a $25,000 minimum deposit. Includes 1:100 leverage, spreads as low as 0.6 pips, and $6 commissions per 1 whole lot.
Their Universal accounts are Islamic-friendly, though scalping is not allowed. ECN accounts allow scalping, but are not Islamic-friendly. Each account comes with free VPS hosting and immediate trade executions. Traders can trade Forex, precious metals, energies, soft commodities, and cash indices.
Unfortunately, Orbex offers only one type of trading platform. But luckily, it’s the widely popular MetaTrader 4 platform. Their MT4 platform can downloaded, traded on the web, or used as an iOS or Android app.
Trading with Forex or CFD’s with Orbex comes with a range of advantages. A few of their free tools and services include:
- Trading Central – Trading Central is a composite of free market reports, strategies, tips and tactics on a range of global markets.
- Trade Lab – A community of like minded investors delivering Forex trade ideas and signals.
- Free VPS – Not many Forex brokers give their clients a free VPS! A free VPS allows traders to automate their Expert Advisor 24 hours a day, all without having a PC connected to the internet.
- Auto Trading – Orbex can be directly integrated the leading social and auto trading network: FXStat TradeBook. Copy the positions of experienced professionals to maximize your earnings and minimize losses.
Although Orbex is still a relatively small name in the Forex industry, their brand’s reputation is continuing to grow. They’re regulated, provide plenty of free tools and educational material, and there appears to be little to no complaints against the broker. Recommended.