orbex

Orbex Global Limited, trading as Orbex, is a retail forex and CFD broker registered in Mauritius. According to our records, the company was founded on 1 March 2022 and operates its official website at orbexmena.com. The broker presents itself as a multi-asset trading provider, offering access to the MetaTrader 4 and MetaTrader 5 platforms.

Our records show that Orbex holds a Derivatives Trading License (EP) from the Financial Services Authority (FSA) of Seychelles, with licence number SD110. The company's registered address is Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius. It is important to note that the FSA Seychelles is an offshore regulator with lighter oversight compared to major financial authorities.

Orbex Global Limited is regulated by the Seychelles Financial Services Authority under a Derivatives Trading License (EP), licence number SD110. This licence permits the firm to offer derivatives trading services, including forex and CFDs. However, the Seychelles FSA is not a top-tier regulator, and its oversight is generally considered less stringent than that of regulators in the EU, UK, or US.

In FXCanary's assessment, the offshore regulatory status is a significant factor for traders to weigh. While the licence is on file, the level of investor protection and the regulatory framework in Seychelles are not comparable to those in more established financial centres. Traders should be aware of these limitations when considering this broker.

Orbex offers three account tiers: Starter, Premium, and Ultimate. The Starter account requires a minimum deposit of $100 and offers a maximum leverage of 1:500, with no commission. The Premium account requires a minimum deposit of $500, offers the same maximum leverage of 1:500, and charges a commission of $8 per trade. The Ultimate account requires a minimum deposit of $25,000, also offers 1:500 leverage, and charges a commission of $5 per trade.

According to our records, the Premium and Ultimate accounts advertise spreads starting from 0.0 pips, while the Starter account's spread is not specified. These conditions suggest that Orbex targets both novice traders, who can start with the Starter account, and professional traders, who may prefer the more favourable conditions of the Premium or Ultimate accounts.

Orbex supports the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used in the retail forex industry. These platforms offer advanced charting tools, automated trading capabilities, and a range of technical indicators. The broker claims to provide low-latency execution and high leverage, which may appeal to active traders.

Our records do not specify the full range of instruments offered by Orbex, but as a forex and CFD broker, it is likely to provide access to currency pairs, commodities, indices, and possibly cryptocurrencies. However, since the instrument list is not disclosed in our records, traders should verify the available assets directly with the broker.

Orbex supports several deposit methods, including Skrill, bank transfer, Mastercard, and Visa. For withdrawals, the broker accepts Mastercard, bank transfer, Neteller, and Visa. The availability of these methods may vary depending on the trader's jurisdiction.

It is worth noting that the broker does not list any cryptocurrency payment options, which may be a limitation for some traders. Additionally, the processing times and any associated fees are not disclosed in our records, so traders should contact the broker for detailed information.

Orbex Global Limited was founded in March 2022, making it a relatively new entrant in the forex brokerage space. The company is registered in Mauritius, a jurisdiction often used for offshore financial services. The broker maintains a presence on social media platforms including Facebook, Instagram, LinkedIn, and YouTube, which may be used for marketing and client engagement.

Our records indicate that the company has no employees listed, which is unusual and may warrant further investigation. The lack of employee information, combined with the offshore registration, raises questions about the operational transparency of the firm.

In FXCanary's assessment, Orbex presents several risk flags. Our records indicate that the broker is listed as a 'Fake Broker' in industry watchdog records, and it has been identified as a clone or impersonator firm. Additionally, withdrawal complaints appear in approximately 67% of recent reviews, which is a significant concern for traders.

The broker is registered in Mauritius, an offshore jurisdiction with light oversight, which further amplifies the risk. Given these factors, traders should exercise extreme caution when considering Orbex. The absence of independent user reviews and the limited public information available make it difficult to verify the broker's legitimacy and reliability.