Orbex review

Our rating

Orbex scores 6.9 out of 10 on our table. That figure is an average of six things we assess, and it hides the shape of the broker: its strongest area is regulation at 8.3, its weakest is education at 3.9. Whether that gap matters depends entirely on which of the six you were going to use.

Regulation and safety8.3/10

Orbex lists its authorisations as Mauritius FSC, Investment Dealer (Full Service Dealer excluding Underwriting); Seychelles FSA, Securities Dealer. Those are offshore authorisations. Offshore licensing is not a synonym for dishonest, but it does mean lighter reporting, higher permitted leverage and, usually, no compensation scheme - the trade is protection for flexibility.

The licence that matters to you is the one held by the entity that opens your account, and at a multi-entity broker that is decided by your country of residence. Its registration can be checked directly on the Mauritius FSC Register, Orbex Global Limited. It is a two-minute check and it is the only way to confirm that the firm taking your deposit is the firm named on the website.

Client money is held separately from the firm's own funds, with approved regulated banks/payment providers - so that if the business fails, client balances are not part of what its creditors can reach. Negative balance protection applies, so a gap through your stop cannot leave you owing the broker money.

On compensation: Investor Compensation Fund protection advertised by Orbex; eligibility/entity dependent. That covers the broker failing, not your trades losing money - the two are frequently confused and only one of them is insured.

Orbex does not accept clients from United States, Iran, North Korea, Mauritius, Russia, Myanmar, Romania and other prohibited jurisdictions. Restriction lists move, so confirm your own country before you spend time on an application.

What it costs to trade8.3/10

Orbex advertises spreads from 0.0 pips. There is no separate commission on its standard pricing, so the whole of the broker's charge sits inside that spread - one number to think about, and no arithmetic at the end of the month. Put the two together and a EUR/USD round turn works out at 1.5 pips, Starter, which is the figure worth comparing against other brokers.

An advertised minimum is the best price a broker has ever quoted, not the price you will get. On our record its measured average on EUR/USD is 1.5 pips, Starter, and 1.6 pips, Starter on GBP/USD. Spreads are variable, so they move with liquidity and widen around releases and the daily rollover.

Positions held overnight accrue a financing charge, which is irrelevant to a day trader and compounds for anyone holding for weeks. Currency conversion applies where your account and the instrument use different currencies, which is a charge worth avoiding by funding in the currency you actually trade.

Leave the account dormant and it costs you: $20/€20/£20 per month after 4 months inactivity. That is the charge most often missed when comparing brokers, and it matters disproportionately if you trade seasonally or infrequently.

Platforms and tools8.3/10

Orbex runs MetaTrader 4, MetaTrader 5, WebTrader. Both MetaTrader versions are available, which matters more than it sounds: an expert advisor written for MT4 will not run on MT5, so a trader arriving with existing software needs the specific version it was written for.

Automation is supported: Yes, MT4/MT5 Expert Advisors. There is API access (institutional connectivity available) for anyone connecting their own software. Copy trading is available through yes, which is the alternative to writing rules yourself.

Charting runs to 30+ MT4, 38+ MT5 and custom indicators. Additional tools include MetaTrader 4, MetaTrader 5, Trading Central, VPS. On mobile: Third-party MetaTrader apps.

Markets, leverage and execution7.3/10

Orbex covers Forex, Stocks, Indices, Commodities, Metals, Energies, Futures, Cryptocurrencies. That comes to 400+ instruments in total. On the currency side specifically it lists 40+ pairs. Breadth is worth less than depth in the markets you actually trade - a hundred instruments priced well beats a thousand you will never open.

Leverage runs to 1:500 on the entity that offers most. That does not improve your expected return; it lowers the deposit a given position requires, and shortens the move needed to close you out. Whatever the headline, the number that governs your position is the margin requirement on the specific instrument - it is always lower on shares and crypto than on major currency pairs.

Execution is NDD, routing orders to external liquidity rather than pricing them internally. Measured speed is 0.03 seconds. Its servers sit in global low-latency financial data-centre infrastructure, which is what determines latency more than any software choice.

Order types available: market, limit, stop, stop-loss, take-profit, trailing stop and MetaTrader pending orders. Stops and limits are table stakes; what separates platforms is whether the ones you rely on are there and how quickly they can be modified once a position is open.

Accounts

Account types run to starter, Premium, Ultimate, Swap-Free, Demo. The minimum deposit is $100. The smallest position it will take is 0.01 lots, which is what actually governs how precisely you can size risk on a small account.

A demo account is available, which is the cheapest way to find out whether the platform suits you. Swap-free Islamic accounts are offered. Professional classification is available for clients who qualify, which lifts leverage caps and lowers the protections that come with retail status - a trade rather than an upgrade. Opening takes typically a few minutes.

Accounts can be denominated in USD, EUR, GBP, PLN. Funding in the currency you trade removes a conversion charge from every position, which is a small saving repeated indefinitely.

Deposits and withdrawals

Deposits can be made by Visa, Mastercard, bank wire, Skrill, Neteller, USDT and regional payment methods. They clear in cards/e-wallets up to 2 hours.

Withdrawals go out by bank wire, Visa, Mastercard, Skrill, Neteller, USDT and regional payment methods. Expect e-wallets/USDT up to 24 hours. The minimum withdrawal is $10 equivalent. Check the withdrawal routes rather than the deposit ones. They are frequently not the same list, anti-money-laundering rules usually require funds to return the way they came, and the difference only becomes apparent at the point you want your money back.

Local payment methods include KNET; eNet; ZainCash; Zotapay; GateToPay and other regional methods - which matters more than it looks if you are outside the broker's home market, since an international wire is slow and expensive compared with a domestic transfer.

Support and education5.3/10

Support runs 24/5, which covers the trading week but not the weekend - relevant if you hold positions through it, and particularly if you trade crypto. You can reach them by live chat, email, phone, Help Centre. Live chat typically answers in within minutes. Support is offered in multilingual.

Its education is substantial - webinars, trading courses, ebooks, tutorials, one-on-one training, platform education and educational articles - which is the difference between a broker that will teach you and one that will simply take the deposit. Research output covers In-house Orbex Research Team, Trading Central, daily technical/fundamental analysis, market commentary and trading ideas.

The company behind the brand

The company behind the brand is Orbex Global Limited, registered as Mauritius Global Business Corporation. It operates from Ebene, Mauritius. It has been trading since 2011, so there is about 15 years of record to look at.

It is independently owned rather than part of a larger group. It is privately held, so its finances are not published the way a listed group's are. Headcount is in the Approx. 100-200 range.

You may also see it under Orbex. Brands and legal entities rarely map one to one in this industry, and the name on the website is not always the name on the client agreement.