(Arab Financial Brokers). The company decided to re-brand itself at the end of 2013
. This caused some controversy and unfounded rumors that this was done to evade liabilities. In spite of that, the company is continuously growing internationally and establishing themselves as a global brand.
Orbex is located in Limassol where it is regulated by CySEC, The company also in line with the MiFID as it is a requirement on financial organizations in the country due to Cyprus membership to the European Union.
Orbex’s re-branding coincided with the introduction of a new philosophy; to put client satisfaction at the heart of the company’s business. On its platforms, clients can trade 35 currency pairs, 4 precious metals, 2 energy, 2 soft commodities and 4 cash indices. Orbex states that they have strong liquidity provided by tier 1 international banks .
Compliance to Different Authorities
Speed and Ease of Procedures
Technology and Facilities
Client Support and Offers
One of the new good brokers in the industry. Orbex provides excellent client support, innovative tools and good education section.
How does it help me learn?
Although its website is a little hard to navigate, but the education section presented by Orbex
is huge and comprehensive. On top of that, they provide the necessary tools as well as some advanced ones. The educational section includes:
- Demo Account and Account Managers – As with all brokers, Orbex allows clients to develop and refine your trading skills with the use of a free demo account. During the use of the demo account, Orbex account managers will offer help understanding the Forex market and the use of the platform.
- Forex Articles – Orbex educate clients through the use of detailed and clear articles on every Forex topic. Usefully, they include ‘How to Choose a Broker’, a glossary, an introduction to fundamental and technical analysis and a lot of ebooks and infographics about Forex trading .
- Economic Releases – They give the public instant access to very useful fundamental and technical analysis. They rank each release in order of importance to save traders time when the market is on the move.
Trading Central – Orbex offers clients access to the Trading Central, which is an online source of Forex trading signals from award winning market analysts. It can be connected directly on MT4.
- Orbex Web TV – The Web TV brings the latest news, research, information, analysis and fundamental and technical reports from all financial markets.
- Strategizer and Trade lab – The Strategizer is an algorithmic Forex trading system that helps clients build an expert advisor without requiring any coding knowledge . The Trade lab is a sharing platform that allows clients to find and follow trade ideas or post their own. Two very useful tools.
How is the client support service in general?
Orbex prides itself on the industry leading customer support level they have, which is good and won’t disappoint. The company offers assistance to its clients through email, live chat and telephone calls with the call back facility. The service Orbex offers is available in ten different languages, response times were excellent and staff were friendly, courteous and well-informed.
What does the industry say?
ًThe company attracted a lot of attention when it changed its name two years ago as some clients felt it was to avoid obligations to clients or escape liabilities. However, the company has responded saying that the change of name was merely to give it a more international appeal instead of the previous name of Arab Financial Brokers, which it has a point in. Traders now seem to have accepted this and the company is rated well. They have won a number of awards, confirming its status as one of the best brokers in the industry. Those awards include Best Retail FX Provider, Best Arabic FX Provider and Most Innovative ECN Broker.
How safe is my money?
Orbex is registered with and regulated by CySEC which under its’ regulations, it has to keep clients’ funds separate from the company’s. It is also registered and licensed by FCA, the British Financial Conduct Authority and it falls under the MiFID (Markets in Financial Investment Directive) EU regulation. The company is also a member of Investor Compensation Fund.
What platforms does Orbex offers?
Orbex offers only the MetaTrader4 range of trading platforms which they are available for desktop, web, mobile and tablets. Metatrader is renowned for its reliability, ease of use, customization and popularity, which means that clients can transfer in to Orbex without having to worry about unfamiliar trading platforms.
What about its trading conditions?
There are no margin requirements for equity less than $50,000, which is a first in the Forex world and is a very good advantage for the trader. Above this level, margin requirements are 50% on accounts up to $500,000 and 100% for equity above $500,000. Leverage varies depending on the type of account, mini, standard and advanced, starting from 1:500 on mini accounts below $3,000, 1:300 on standard accounts between $3,000 and $50,000, and finally 1:100 on advanced accounts over $50,000 equity. The stop out level is at 5%.
Having a wild clients base in the Middle East, Orbex offers Sharia compliant Islamic accounts. It gives its clients the opportunity to hold their positions for an unlimited amount of time. However, trading conditions apply to make sure traders don’t abuse this feature.
Clients can use Expert Adviser on all of the company’s MT4 platforms. Orbex doesn’t not guarantee no slippage while executing trades.
How much will it cost me?
Orbex offers trading with fixed spreads on its normal accounts and variable spread on ECN trading.
The variable spread on ECN trading is as low as 0.6 pips on majors, the fixed spreads offered starts from 0.9 up to 1.9 on majors depending on the account type. No commissions are charged on trading in Forex, the company makes its profits only on the spread.
The range of methods it has for depositing and withdrawing funds include credit cards, ewallets such as Skrill and bank transfers. Fees apply on these methods but application of funding and execution of withdrawals is one of the fastest and best available in the industry.
Any special deals?
At the moment Orbex is not offering any kind of promotion. Instead, they try to present a complete Forex trading product for new and advanced traders.
The bottom line
There are plenty of positives in this small and growing company. Being a central part of its philosophy, Orbex is becoming known for the customer service level it provides. Orbex also presents a few new and innovative tools for its clients. The company’s website is rich with useful information for both new and advanced traders. It is definitely one of the strong and good companies in the Forex industry.
Do you like this broker?
If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.