Is there a risk of fraud with Orbex? We have tested the Broker

Orbex is a globally oriented Forex and CFD brokerage firm headquartered in Limassol, Cyprus. The website and customer service are available in several languages, including German. Clients can trade 32 currency pairs and CFDs from multiple areas through MetaTrader 4. Orbex also offers mobile trading, scalping and hedging.

Through the extensive educational offer, beginners receive a comprehensive introduction and can learn trading from scratch. Also the advanced traders will find many opportunities to learn new methods as well as to expand their existing knowledge.

With the free demo account the trading can be tested and trained risk-free. Social Trading offers another good entry opportunity for beginners. Here the trading behavior of successful traders can be copied in real time and applied to your own account. Even without a comprehensive trading education, it is possible to trade with good approaches.

The minimum deposit at Orbex is 500 Euros. Deposit and withdrawal fees are not charged by the broker, which naturally contributes to a positive Orbex rating.

In addition to the regular trading offer, Orbex customers receive daily updated market and technical analyses from Trading Central. By working as an ECN broker, there is no conflict of interest as is typical for market brokers, because Orbex does not set the trading prices itself, but instead forwards the customer to a large liquidity pool. Thus the broker has no possibility to profit from lost trades of his customers.

5 arguments for Orbex:

  • EU regulation by the CySEC
  • Social Trading can be used
  • Diverse educational program for beginners and advanced students
  • Free demo account available
  • German support and German language website

1- seat and regulation: Orbex as a fully regulated broker

Orbex Limited has been providing its online brokerage services since 2011. The Forex and CFD broker maintains its headquarters on the island of Cyprus. The office in Limassol is divided into different departments, which can be contacted by clients at the telephone numbers listed on the website. Regulation is carried out by the Cyprus Securities and Exchange Commission (CySEC). As Cyprus has been a member of the EU since 2004, the strict MiFID guidelines are applied in the granting of licenses and regulation. Orbex is also registered with several other financial supervisory authorities in other countries. The broker is also registered with the German Federal Financial Supervisory Authority (BaFin).

As stipulated in the license regulations, the customers’ funds are managed in separate accounts and should not be able to be used by the Broker for its own purposes. This ensures that the credit balance can be paid out at any time, provided it is not tied up as margin in an open position. The additional deposit protection is intended to protect the traders’ credit balance up to an amount of 20,000 Euro per customer, even in the event of insolvency of the broker.

Conclusion: The broker has a license from the EU authority CySEC and is controlled and regulated by this authority. In addition Orbex is also registered with the BaFin in Germany. The customer funds are secured over the deposit protection fund of Cyprus up to an amount of 20,000 euro per trader.

2- trading offer at Orbex: Trading with currencies and CFDs

Icon Binaere Options or ForexIn our Orbex experience report we have of course also taken a look at the range of tradable underlyings. The focus with this broker is on trading with currency pairs, here 32 different pairs are offered for trading. But also in the area of CFDs there is a sufficient selection. Offered are contracts for difference from the ranges “stock indices”, “precious metals” and “energies”. Many exotics are not available at Orbex, but all majors are available at favorable spreads, so that the most common trading strategies can be implemented well and even with automated trading, sufficient trading signals are available.

All major currency pairs such as


and many more are available.

Trading Forex and CFDs involves a high level of risk, but in return, high profits can be made. To do this, traders need to be able to monitor prices continuously, which is why Orbex provides real-time financial charts. The automation of promising trading strategies is also possible with the MetaTrader 4 trading platform and with the “Expert Advisors” tool.

Conclusion: Orbex provides a good range of currency pairs and CFDs, which allows the implementation of various individual trading strategies. Automated trading can also be implemented with this broker.

3 – trading conditions and minimum deposit: Account opening from 500 Euro deposit

Icon PaypalTo trade currency pairs and CFDs on Orbex, a minimum deposit of 500 Euros is required. With this amount, simple trading strategies can already be implemented with good risk management. In general, traders should consider beforehand which strategy they want to use for trading and how much capital is required for this. It is advisable to deposit enough money so that several different positions can be opened simultaneously, thus spreading the risk.

Because traders want to invest different amounts of capital and have different trading requirements, Orbex offers four different trading accounts. In this way, the needs of traders with less capital and also of professionals with a high trading volume are well covered.

The following trading accounts are available:

  • Classic
  • Standard
  • Premium
  • VIP

The minimum deposit of 500 euros applies to the Classic and Standard account types. The Premium account is only available from a deposit of 5,000 euros and the VIP account is available to customers who deposit at least 25,000 euros. There are no account management fees for any of the account models offered.

The trading fees are charged entirely via the spreads. With the exception of the Classic account with fixed spreads, trading takes place with variable spreads. With the popular Standard account you can trade with spreads from 1.5 pips.

The maximum leverage is 1:500, which allows traders to move comparatively large amounts of money even with small capital. However, it should not be forgotten that a high leverage also increases the risk accordingly, which is why it is especially recommended for beginners to choose a lower leverage. The high leverage is only possible upon request from the provider, initially a leverage of 1:50 is given.

A special feature of Orbex is social trading. Here also inexperienced traders can trade with popular strategies by simply copying experienced traders. However, social trading also involves the usual risk of loss associated with Forex and CFD trading.

Conclusion: Orbex offers suitable account models for beginners and experienced traders. The Classic account and the Standard account are available from a minimum deposit of 500 Euros. The maximum leverage is 1:500 and the spreads for the majors start at 0.8 pips for the “VIP” account model and 1.5 pips for the “Standard” account model. In addition to classic trading, Orbex also allows its customers to copy each other in social trading.

4 – trading platform and mobile trading: trade for free with MetaTrader 4

Icon Smartphone MobileOrbex offers its clients several ways to use the proven trading platform MetaTrader 4. The download version can be installed on several computers in parallel if required and offers many analysis functions and tools to meet most individual needs of beginners and experienced traders. With Expert Advisors, trading strategies can be automated and their effectiveness can be checked prior to use by means of a backtest. The handling of the platform is easy to learn, even for beginners. Various video tutorials explain the operation step by step and thus offer a good introduction.

If you want to trade from a computer on which the software is not installed, you can do so at any time with MetaTrader 4 Web Trader. It is web-based and therefore does not need to be downloaded. This allows traders to quickly access their trading account from any PC and use all functions without downloading. The data transfer is encrypted so that customers are protected from unauthorized access even when using the Web Trader.

For mobile trading, MetaTrader Apps for iPhone, iPad and Android can be downloaded free of charge. Mobile trading, just like the PC versions, offers many possibilities for professional chart analysis and thus allows for a good implementation of the chosen trading strategy even when on the move.

The trading platform MetaTrader 4 is known worldwide among experienced traders and could also convince us in the Orbex test. Due to the different offered variants, the users are not bound to one device, but can trade from any place. Professional asset managers and traders with several trading accounts can comfortably manage them simultaneously with the MetaTrader Multi Terminal.

Conclusion: MetaTrader 4 is a well known trading platform, which convinces with its many functions. The software can be used free of charge with all account models offered by Orbex and is available for download, as Web Trader and for mobile devices.

5 – account opening and additional services: What does the Broker offer?

Opening an account with Orbex is free of charge and there are no account management fees. A trading account can be opened in the following currencies:

  • Euro
  • British Pounds
  • US Dollar
  • Polish Zloty

Icon StrategyAccording to the requirements of the regulatory authority, when opening an account, the client must provide some personal data and also information about previous trading experience.

After the trading account is created, a first deposit can be made. There are several free methods available for this purpose. Opening an account with Orbex is simple and can be done in a few minutes. For legal reasons, a verification is required to open an account. This verification checks whether the data provided during registration is correct. For this purpose, a copy of your identity card and proof of address can be sent by e-mail to Orbex Customer Service.

A full registration is not required when opening a demo account. A few details are sufficient and no verification is required.

Conclusion: opening an account with Orbex is fast and can be done completely online. There are no fees for opening an account or for managing the account. Also the legally required verification can be carried out by email. A demo account can also be opened without full registration.

6 – demo account: Test Orbex 30 days without obligation and without risk

Icon PlatformsOrbex offers a free demo account which can be used for a period of 30 days. So interested traders can test all functions of the broker without obligation and decide afterwards for or against the opening of a live account.

Even if a real trading account is opened, it is still possible to trade with the demo account. This is also gladly practiced by experienced traders, for example to train new strategies or to improve their own trading strategies. Just like the live account, the demo account uses the trading platform MetaTrader 4.

Especially for beginners, the demo account offers a good opportunity to learn how to trade Forex and CFDs without risk and to gain first Orbex experience. After the 30-day usage period has expired, a demo account can be reopened at any time, so that in principle unlimited training opportunities are available. In the training area of the broker you will find a lot of interesting information about various trading strategies, which can be tried out with the demo account.

Result: Interested potential customers can test the broker Orbex with the help of the free demo account for 30 days without obligation. Even if a trading account has already been opened, the demo account offers the opportunity to try out all contents without risk and to trade with virtual capital.

7 – service and education: Excellent and versatile educational offer

Icon CleverOrbex has been awarded as “best training provider” in 2016. The educational offer is extremely extensive and versatile, offering both beginners and advanced traders a lot of good content and thus the opportunity to continuously improve their own trading performance. In addition to free eBooks and video courses on various topics, the broker’s webinars are particularly popular with traders. Here, recognized financial experts provide participants with content from various areas of trading. By direct communication and the possibility of converting the acquired knowledge directly afterwards with the free demo account without financial risk, the newly learned methods and strategies remain still better in the memory.

As further additional achievement the Trader with Orbex receives many important information from the financial world. The economic calendar provides a good overview of upcoming events that are expected to have an impact on trading prices. Via the provider Trading Central, users are provided with daily updated market analyses.

The customer service can be contacted via

  • Phone
  • Live Chat
  • e-mail
  • free callback

and is available in German language. The competent and friendly staff is noticeably interested in customer satisfaction and offers a good service.

Conclusion: The educational offer of Orbex could convince not only us, but was already distinguished by the technical literature. Beginners and advanced traders will find many opportunities to improve their trading skills and learn new methods. The customer service is available in German and can be reached by several methods.

8 – deposit and withdrawal: free money transfers with several methods

Icon Money BundleThe broker offers several different methods for depositing money at Orbex. These include bank transfer and payment by credit card or e-wallet (Skrill, Neteller). Depending on the payment method, the time it takes for the deposited amount to be credited to the trading account varies. A wire transfer can take up to five business days due to the processing time of the banks, while e-wallet deposits are usually credited to the trading account after a few minutes or even seconds. If you want to trade the offered products immediately after depositing, you should consider this when choosing the payment method.

Withdrawals are usually made using the same method that was used to make the deposit. Orbex does not charge any fees for deposits or withdrawals, but it is possible that the client’s bank that manages the account may charge fees.

Conclusion: When depositing, customers can choose from several payment methods offered. Orbex does not charge any fees for the transfer of funds.

9 – seriousness: Is Orbex serious?

Icon Trading AccountAccusations of fraud against the individual Forex and CFD brokers can be found on the Internet. In the case of Orbex, these accusations are usually based on a false idea that the traders in question are trading the products in question. Trading in speculative products always involves a high level of risk, and therefore only capital should be used, the loss of which can be absorbed. Traders should also not forgo good risk management.

The regulation of Orbex is carried out according to EU law and is based on strict criteria. Additionally a deposit insurance over the Cyprus investor compensation fund is present.

Result: Orbex is considered in the industry as a well-known provider for Forex and CFDs. The client funds are protected by a deposit insurance and are managed strictly separated from the broker’s assets and used exclusively for trading, so that they can be paid out at any time.

10 -conclusion: Our Orbex experience: Good conditions and many additional services

After our Orbex test we can draw a positive conclusion. The broker is fully regulated and must therefore work according to high security standards. The trading conditions are convincing as well as the offer of additional services, which is good with this broker.

A trading account can be opened with a minimum deposit of 500 Euro and there are 4 different account models to choose from. The customer service can be contacted in German.

With the free demo account, all the functions of trading with virtual capital can be tested, so there is no need to open a trading account directly to gain your first Orbex experience. The extensive educational offer shows that the broker is interested in the success of his customers.

The following arguments for the broker were particularly striking in the Orbex test:

  • High maximum leverage of 1:500
  • Four different account models with favorable conditions
  • Learning from the strategies of the best traders in social trading
  • Free demo account also available without full registration
  • Extensive educational program, awarded by the trade press
  • Current market information from Trading Central
  • MetaTrader 4 as Download, Web Trader and as App

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