About Orfinex
Company Overview
Orfinex is an online forex broker established on 29 December 2021, registered in Saint Vincent and the Grenadines. The company operates under the full legal name Orfinex Capital Limited, with a registered address in Mauritius. It offers forex and CFD trading services through the MetaTrader 5 platform.
The broker states that it is regulated by FinCEN, and our records show it also holds a derivatives trading license from the FSCA in South Africa (license number 53184). However, traders should be aware that regulation is a key factor in assessing broker safety, and the FSCA license is for over-the-counter derivatives.
Account Types
Orfinex offers three main account tiers: Standard, Premium, and ECN Elite. The Standard account requires a minimum deposit of $1 and offers leverage up to 1:200 with spreads from 1.0 pips. The Premium account requires $1,000 minimum deposit, leverage up to 1:500, and spreads from 0.5 pips. The ECN Elite account requires $5,000, provides leverage up to 1:1000, spreads from 0.0 pips, and charges a commission of $1.50 per lot.
These account types cater to different trading styles, from beginners to high-volume scalpers. All accounts provide access to over 500 FX pairs and metals CFDs. The broker does not publicly disclose deposit or withdrawal methods.
Trading Instruments and Platforms
Orfinex offers trading in over 500 forex pairs and metals CFDs, a broad selection that appeals to forex-focused traders. The broker provides the MetaTrader 5 platform, known for its advanced charting tools, algorithmic trading capabilities, and fast execution.
MT5 is available on desktop, web, and mobile devices, allowing traders to manage positions from anywhere. The broker does not list other platforms, so traders may be limited to MT5 only.
Regulatory Status and Trust
Orfinex's primary registration is in Saint Vincent and the Grenadines, a jurisdiction known for minimal regulatory oversight. The broker's claimed regulation by FinCEN is not verifiable through public registers, and our data shows only the FSCA license in South Africa. Traders should note that the FSCA license is for derivative trading, but the broker's offshore registration means client funds may not be protected by compensation schemes.
Aggregated industry data gives Orfinex a trust rating of 2.5 out of 5 on Trustpilot, based on 162 reviews, and our FXCanary Scam Risk Score is 53/100 (Elevated), indicating significant concerns.
Customer Feedback Summary
User reviews are mixed: some traders praise Orfinex for low spreads, fast execution, and helpful support, while a larger number complain about withdrawal delays, unresponsive customer service, and KYC issues. Many users label the broker a scam, reporting funds locked for weeks or indefinitely.
Positive reviews often come from traders who have not experienced withdrawal problems, while negative reviews consistently point to the same core issues: difficulty accessing funds and poor communication.
Target Audience
Orfinex may appeal to traders who are comfortable with higher risk and prioritize low trading costs and high leverage. The broker's account structure, especially the ECN Elite account with tight spreads, could attract scalpers and high-frequency traders. However, traders who value regulatory protection, reliable withdrawals, and responsive support should approach with caution.
Overview compiled by FXCanary from regulatory records and public data. full Orfinex review