Is orbex a Scam?

When we at FXCanary sit down to judge whether a broker is safe, we do not rely on a single data point. We cross-check the official domain, the regulatory licences on the public register, the corporate structure, the trading conditions, and — crucially — the independent feedback from real traders. For a broker with no independent user reviews yet, that last pillar is missing, so we lean harder on the objective evidence: where the firm is registered, who regulates it, and whether its own claims match what the records show.

Our Scam Risk score is a composite of several weighted flags. For Orbex Global Limited, that score stands at 85 out of 100, which we classify as 'Severe'. That is not a number we assign lightly. It is built from a set of specific risk flags: the firm is listed as a 'Fake Broker' in industry watchdog records, it is identified as a clone or impersonator firm, it is registered in Mauritius under light offshore oversight, and aggregated industry data shows withdrawal complaints in roughly 67% of recent reviews. Each of those flags on its own would warrant caution; together they paint a picture that demands serious scrutiny before any trader commits funds.

Orbex Global Limited holds a single licence on file, issued by the Financial Services Authority (FSA) of Seychelles. The licence is a Derivatives Trading License (EP) with the number SD110. We cross-checked this against the public register, and the licence is indeed listed.

But a licence is not the same as protection. The Seychelles FSA is an offshore regulator with a reputation for light-touch oversight. It does not operate a compensation scheme, does not require client funds to be held in segregated accounts in the way that, say, the FCA or CySEC mandates, and offers no negative-balance protection as a statutory right.

What does that mean in practice? If the broker fails or disappears, there is no government-backed safety net to recover your money. In jurisdictions like the UK or EU, a regulated broker must segregate client money and participate in a compensation fund that pays out up to a certain limit if the firm goes bust.

In Seychelles, none of that applies. The licence number SD110 is on the register, but the protection it affords is minimal. For a trader, that is a significant gap — and it is one of the reasons our risk score is so high.

One of the most serious flags in our assessment is that Orbex Global Limited is identified as a clone or impersonator firm. In the forex world, a clone is a firm that deliberately trades on the name, branding, or regulatory history of a legitimate, established broker to win the trust of unsuspecting clients. The name 'Orbex' is well known in the industry — there is a long-established broker called Orbex that has been operating for years. The firm we are reviewing here, Orbex Global Limited, registered in Mauritius in March 2022, is not that broker.

We found no clone or impersonator sites targeting this specific entity — the record shows 'Clone / impersonator sites found: 0' — but that is cold comfort. The risk here is the reverse: this firm itself may be the clone. When a broker shares a name with a reputable player but is registered in an offshore jurisdiction with a recent founding date and a single weak licence, the alarm bells ring. Traders searching for 'Orbex' could easily land on orbexmena.com and believe they are dealing with the established brand. Our advice: verify the domain and the legal entity name before depositing a single dollar.

The account structure at Orbex Global Limited is aggressive. The Starter account requires a minimum deposit of $100, which is low enough to attract novices, but the maximum leverage on all accounts is 1:500. That is extremely high leverage — the kind that can wipe out a small account in a single bad trade. The Premium and Ultimate accounts require $500 and $25,000 respectively, with commissions of $8 and $5 per lot, and spreads advertised 'from 0.0' on the two higher tiers. Those are attractive numbers on paper, but they are the broker's own claims, not independently verified figures.

We do not have independent confirmation of actual spreads, execution quality, or slippage. For a broker with no user reviews, we cannot say whether the advertised conditions hold in practice. What we can say is that high leverage and low advertised spreads are classic hooks used by offshore brokers to pull in traders, and they are not in themselves a sign of safety. In fact, the combination of a weak licence, a clone flag, and aggressive leverage is a pattern we have seen before — and it rarely ends well for the retail client.

Orbex Global Limited is registered in Mauritius, at Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène. Mauritius is a popular offshore jurisdiction for forex brokers because it offers a business-friendly environment with low taxes and light regulation. But that same lightness is a double-edged sword. The Mauritius Financial Services Commission does regulate investment businesses, but the oversight is far less stringent than in major financial centres, and the jurisdiction is often used by firms that cannot or will not meet the standards of the FCA, CySEC, or ASIC.

Our records show the firm was founded on 1 March 2022, making it very young. It has zero employees on file, which is a red flag in itself — a broker with no staff is either a shell or a firm that does not disclose its operations. The registered address is a standard business park location, which tells us little about the actual trading desk. For a trader, the lack of transparency about who runs the firm and where the trading is actually executed is a serious concern. We could not verify any operational substance behind the Mauritius registration.

Aggregated industry data shows that roughly 67% of recent reviews of this broker mention withdrawal problems. That is a striking number, even for an offshore broker. Withdrawal issues are the single most common complaint in the forex scam landscape — a broker can be slow to process withdrawals, impose hidden fees, or simply refuse to pay out once a client tries to take profits. When two-thirds of reviews raise this issue, it is a strong signal that the firm may be operating a 'take deposits, resist payouts' model.

We must be clear: we have not independently verified those reviews, and the broker has no independent user reviews on our own platform yet. But the aggregated data is consistent with the other risk flags. A broker that is flagged as a fake, is a clone, holds a weak licence, and has a high rate of withdrawal complaints is, in our assessment, a severe risk. If you are considering this broker, the withdrawal history should be your first question — and the lack of a clear, verifiable payout track record is a warning in itself.

If, despite the red flags, you are tempted to open an account with Orbex Global Limited, we urge you to take every possible precaution. First, verify the domain and legal entity. The official domain is orbexmena.com, and the legal name is Orbex Global Limited. Do not rely on a Google search — go directly to the site and check the footer for the licence number SD110 and the Mauritius address. If any of that is missing or different, walk away.

Second, never deposit more than you can afford to lose. With a broker at this risk level, treat the entire deposit as a potential loss. Use a separate bank card or e-wallet, and consider using a virtual card with a low limit.

Third, test the withdrawal process with a small amount before committing larger funds. Withdraw a small sum immediately after your first deposit to see if the process works. If it is delayed or refused, that is your answer.

Finally, keep records of every communication and transaction. If things go wrong, you will need evidence to report the firm to the Seychelles FSA or to your local authorities.

In FXCanary's assessment, Orbex Global Limited presents a severe risk to traders. The combination of a single weak offshore licence, a clone/impersonator flag, a 'Fake Broker' listing in industry watchdog records, a very recent founding date, zero disclosed employees, and a high rate of withdrawal complaints in aggregated data is about as alarming a profile as we see. The absence of independent user reviews on our platform does not make the broker safer — it simply means we have less direct evidence to add to the picture.

We cannot recommend this broker to any trader, whether novice or professional. The advertised trading conditions — high leverage, low spreads, and a tiered account structure — are attractive, but they are not backed by a regulatory framework that protects you if things go wrong. If you are looking for a broker, we would strongly advise you to choose one that is regulated in a major jurisdiction, with a verifiable track record and a clean reputation. For Orbex Global Limited, the prudent move is to stay away.