When it comes to Forex trading, you don’t only want to be at the top of your know-how and at the front of the “what’s new” game, you also want an easy and convenient system at your fingertips.
This is something that has been used by thousands and loved by even more. With that in mind, let’s take a look at the Orbex trading platform.
The Orbex Review – Getting Into It All
Based in Cyprus and founded in 2010, Orbex offers several different account types to fit with all skill levels of trading and portfolio sizes. All accounts have a maximum leverage of 1:500 and are commission-free, except for the Copy Trading account.
One of the good things about Orbex is that it has a lower end minimum deposit of only $200.00 and it increases from there depending on different account types.
Orbex is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC). CySEC has specific requirements for licence holders and makes sure there is full compliance with all rules and regulations.
This all makes the Orbex system a trusted and reliable system and even opens doors to Forex traders at beginner trading level.
The Orbex Trading Platform
Orbex trading is carried out via an MT4 (MetaTrader4) platform, which is the standard in the Forex trading industry and one of the most well known and frequently used systems today.
This can be helpful for newcomers to Forex trading, who are just learning how systems work and how to navigate trading systems that are being used. Using an MT4 system will help trading newbies to become well versed with the way the systems work and how to get around them; when you’re buying and selling, you want to make sure you know what you’re doing.
Orbex Review – The Demo Account
When you go to the Orbex website you can sign up for a demo account to dip your toe in the water and try the system out. This isn’t a two-click type process, but it’s not a difficult or negative process either.
On the website, you will be asked to enter personal information such as your name, phone, and email address and they will send you an activation link that leads to a page with all your information for your newly created demo account.
You even get a demo desktop application and mobile account, so you can download the apps you would be using for your real account and try them out.
This is very useful because you can get hands-on experience with all aspects of the Orbex system before making a financial decision.
Minimum Opening Deposit
When opening a new account for trading with Orbex, traders have a minimum of $200 to $500 for account deposits. This is a common figure; however, many other Cyprus-based brokers request a smaller amount for opening deposits.
Spreads and Commission
Orbex fixed spreads are slightly lower than other trading systems: they are 1.9 pips on their Classic account; however, variables on Standard accounts are slightly above average in the usual Forex marketplace, beginning at 1.5 pips on EUR/USD. Premium and VIP accounts have better spreads, but the initial deposit required is larger.
Leverage
The max leverage with Orbex is 1:500, which can be thought of as a high ratio. However, many other Cyprus based brokers have much higher levels.
Orbex Trading Education
In this Orbex review, it must be said trading education is very helpful! Whether you are a beginner who does not even know what Forex is yet or you need to learn a few “how-to” tricks for an advanced trading strategy, there is an abundance in its library. You will find:
- Tutorials
- Webinars
- Trading Strategies
- Trading Tips
- Research
- Ebooks
- Infographics
- Trading Psychology
Whether you are a reader or a video watcher, both preferences are catered for with Orbex. You should be able to find everything you need either to learn how to trade from scratch or to improve your trading technique. If you have time, you can really immerse yourself. However, if you need to understand something specific and very quickly, you will probably find what you need in an infographic or a short video.
While most Forex brokers offer training to some extent, while conducting the Orbex review, we have determined that Orbex provides an extensive library of good training materials. In this day and age, of course, you can contact people and engage with people at Orbex via social media or the instant chat tool on the Orbex website.
Methods of Payment For Orbex
Orbex offers the following payment systems to their clients: credit/debit cards, bank wire transfer, K-net Payment Gateway, and e-wallet payment systems, such as Skrill, Neteller, WebMoney, or FasaPay.
In addition, Orbex has no deposit or withdrawal fees, which is a big plus for many Forex traders.
Orbex Account Types
Since this is an Orbex review, we should take a look at the types of accounts Orbex offers and learn some information about them.
Classic Account
- Minimum Deposit: $500
- Commission: No
- Deposit currencies: USD, EUR, PLN, GBP
- Expert Advisors (EAs)
- Fixed Spreads
- Free VPS Hosting
- Max Leverage: 1:500
- Negative Balance Protection
- Scalping: No
- Stop Out: 50%
- Swap Free: Yes
Copy Trading Account
- Minimum Deposit: $500
- Commission: $10>
- Stop Out: 50%
- Variable Spreads
- Max Leverage: 1:500
Standard Account
- Minimum Deposit: $500
- Commission: No
- Deposit currencies: USD, EUR, PLN, GBP
- Expert Advisors (EAs)
- Free VPS Hosting
- Max Leverage: 1:500
- Negative Balance Protection
- Scalping: Yes
- Variable Spreads
- Stop Out: 50%
- Swap Free: Yes
Premium Account
- Minimum Deposit: $5,000
- Commission: No
- Deposit currencies: USD, EUR, PLN, GBP
- Expert Advisors (EAs)
- Free VPS Hosting
- Max Leverage: up to 1:500
- Negative Balance Protection
- Scalping: Yes
- Stop Out: 50%
- Swap Free: Yes
Variable Spreads
- VIP Account
- Minimum Deposit: $25,000
- Commission: No
- Deposit currencies: USD, EUR, PLN, GBP
- Expert Advisors (EAs)
- Free VPS Hosting
- Max Leverage: 1:500
- Negative Balance Protection
- Scalping: Yes
- Stop Out: 50%
- Swap Free: Yes
- Variable Spreads
Orbex Trading Features
An Orbex review wouldn’t be complete without a features section. Orbex has a good mix of trading features available. Here’s a look at some of its features.
- FXStat
Orbex provides an option of connecting with the FXStat Tradebook copy-trading system to let you copy the trades of more experienced traders.
- TradeLab
This is an idea-sharing platform on which you can search and follow Forex trading ideas from the online trading group, or add your own ideas if you want to. Also, it can provide a more social aspect.
- Trading Central
You will also have access to Trading Central, which offers detailed technical research reports on Forex, commodities, and index capital spanning different time frames for different Forex trading strategies.
- Orbex Strategiser
The Orbex Strategiser is a fantastic feature that allows you to build your own expert advisors or trading strategies and let them run directly on the MT4, without having to do any additional or tedious coding at all.
- Orbex VPS
Orbex offers a free VPS, which, when used, allows Orbex traders to deploy their expert advisors 24 hours a day, without being directly linked to a computer, even when you’re busy with something else or don’t have internet access for some reason.
Orbex institutional Services
Using the strength of long-established relationships with major liquidity providers, Orbex offers a competitive edge on the global capital market for institutional investors. Orbex provides a state-of-the-art approach that combines multiple execution methods with optimum liquidity. These versatile integration solutions are tailored for the complex business world of today.
For financial traders, banks, hedge funds, and asset management firms, Orbex provides institutional liquidity services irrespective of account size and amount traded. Orbex offers superior aggregation technology and deep liquidity; it also improves trading efficiency by offering highly competitive rates, excellent performance, and optimised back office, all at low cost without minimum volume requirements. Orbex can meet any requirements and its superior customer support is available for our clients, from consultancy to implementation, set-up, and training.
Two Methods of Supplying Liquidity:
- Aggregated liquidity over MetaTrader 4
- Prime Brokerage Liquidity using the bridge
Advantages of using Orbex as your Liquidity Provider
- No minimum volume
- Low-cost liquidity solution
- Multi-asset
- Forex
- Precious metals
- Energy
- Soft commodities
- Equity indices
- Forex futures
- Simple integration with MT4
- Very competitive spreads
- Leverage up to 1:200
- Back-office and reporting
- Free help with integration and set-up
More details here.
Orbex Review Conclusion
While Orbex isn’t what I’d call the best of the best, it is a Forex trading platform that I’d feel more than confident to refer people to. This Orbex review demonstrates its value.
Orbex offers some great features and with the use of the standard and most well-known MT4 platform, it is clear that it is possible to switch to other similar systems without having to learn much more than basic navigation.
It is a system worth looking into for both seasoned Forex traders and newcomers alike.
