Orbex is a well-regarded online trading broker offering a variety of platforms, tools, and resources designed for both beginners and experienced traders. Established in 2011, Orbex provides a reliable and user-friendly trading environment with a strong focus on education and customer support. This review covers everything you need to know about Orbex as a beginner trader.
Orbex Platforms & Assets
Trading Instruments
Orbex offers a diverse range of trading instruments, ensuring you have plenty of options to explore the financial markets:
- Forex: Trade over 50 currency pairs, including majors like EUR/USD and minors like GBP/NZD.
- Commodities: Includes popular assets such as gold, silver, crude oil, and natural gas.
- Indices: Trade global indices like the NASDAQ, S&P 500, and FTSE 100.
- Stocks: Access CFDs on leading companies, including Apple, Tesla, and Amazon.
- Cryptocurrencies: Trade popular digital currencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
This variety ensures that Orbex caters to traders with diverse interests and investment goals, making it an ideal platform for beginners seeking to build a diversified portfolio.
Trading Platforms
Orbex provides access to one of the most widely used trading platforms, ensuring simplicity and efficiency:
- MetaTrader 4 (MT4):
- Trusted by millions of traders worldwide for its reliability and user-friendly interface.
- Features advanced charting tools, customizable indicators, and automated trading capabilities.
- Ideal for beginners and experienced traders alike.
- MetaTrader 5 (MT5):
- An upgraded version of MT4 with additional features, including more timeframes and advanced order types.
- Suitable for traders ready to explore more complex strategies.
- Orbex WebTrader:
- A browser-based trading platform requiring no downloads.
- Offers an intuitive interface and all the essential tools for seamless trading.
These platforms are beginner-friendly, ensuring an easy start for new traders while offering advanced tools for those looking to grow.
Mobile App
Orbex supports mobile trading via the MetaTrader mobile app, available on iOS and Android. Key features include:
- Real-Time Quotes: Stay updated with live market prices.
- Charting Tools: Analyze markets with customizable charts and indicators.
- Order Management: Place, modify, and close trades with ease.
- Secure Access: Log in securely using biometric authentication.
The mobile app allows beginners to manage their accounts and trades anytime, anywhere, ensuring flexibility and convenience.
Orbex Fees, Commissions & Bonus
Commissions & Fees
Orbex offers a transparent fee structure that caters to beginner traders:
- Forex Spreads: Competitive spreads starting from 0.0 pips on premium accounts.
- Commissions: Zero commissions on standard accounts; low commissions on ECN accounts.
- No Hidden Fees: No charges for account maintenance or inactivity.
- Swap-Free Options: Available for traders who prefer interest-free trading.
This fee structure ensures affordability, allowing new traders to focus on learning and building their skills.
Deposit & Withdrawals
Orbex supports a variety of deposit and withdrawal methods for user convenience:
- Bank Transfers: Secure but may take 1-3 business days.
- Credit/Debit Cards: Instant deposits for quick access to trading.
- eWallets: Options like Skrill, Neteller, and PayPal for fast and easy transactions.
Deposits are typically free, and most withdrawals are processed within 24-48 hours, ensuring a seamless experience.
Bonus & Promotions
Orbex offers several bonuses and promotions to enhance the trading experience:
- Welcome Bonus: Available for new traders in eligible regions.
- Deposit Bonus: Extra trading credit based on the initial deposit amount.
- Loyalty Program: Rewards active traders with cashback or other benefits.
These incentives make Orbex attractive for beginners, providing extra funds to explore the platform.
Orbex Safety & Regulation
Regulation & Safety
Orbex operates under strict regulatory oversight to ensure a secure trading environment:
- Cyprus Securities and Exchange Commission (CySEC): Regulates its European operations.
- Financial Services Authority (FSA) in Mauritius: Ensures compliance for international clients.
This regulatory framework guarantees transparency and client protection, offering peace of mind for beginner traders.
Trading Accounts Type
Orbex offers several account types to cater to different trading needs:
- Starter Account:
- Designed for beginners with a low minimum deposit.
- Offers competitive spreads and no commissions.
- Premium Account:
- Includes tighter spreads and additional features.
- Suitable for traders with more experience.
- Ultimate Account:
- For high-volume traders, offering the tightest spreads and advanced tools.
- Demo Account:
- A risk-free environment to practice trading with virtual funds.
- Ideal for beginners who want to learn before trading with real money.
The Starter Account and Demo Account are particularly beginner-friendly, ensuring an easy entry into trading.
Fraud Prevention
Orbex employs robust measures to safeguard its users:
- SSL Encryption: Protects data and transactions from unauthorized access.
- Two-Factor Authentication (2FA): Adds an extra layer of security for account logins.
- Segregated Funds: Keeps client funds separate from the company’s operational accounts.
These measures ensure a secure trading experience and help prevent fraud.
Orbex Support & Education
Education Center
Orbex places a strong emphasis on education, offering a range of resources to help beginners:
- Video Tutorials: Step-by-step guides on using platforms and understanding trading strategies.
- Webinars and Seminars: Live sessions with industry experts.
- Market Analysis: Daily updates and insights to keep traders informed.
- eBooks: Comprehensive guides covering forex basics, risk management, and technical analysis.
These resources are invaluable for new traders looking to build their knowledge and confidence.
Customer Support
Orbex provides 24/5 customer support through multiple channels:
- Live Chat: Instant assistance for quick queries.
- Email Support: For detailed inquiries or technical issues.
- Phone Support: Speak directly with a representative for personalized help.
The support team is responsive and knowledgeable, ensuring that traders receive timely assistance.
Orbex Community Feedback
Google Reviews
Orbex has received positive feedback on Google. Common praises include:
- Reliable Platforms: MT4 and WebTrader are praised for their ease of use.
- Responsive Support: Customer service is frequently highlighted as a strong point.
- Transparent Fees: Users appreciate the competitive spreads and no hidden costs.
Negative reviews are rare but often focus on regional restrictions or occasional withdrawal delays.
Trustpilot Reviews
On Trustpilot, Orbex maintains a strong reputation. Highlights include:
- Educational Resources: Excellent for beginners learning the basics.
- Secure Environment: Confidence in the broker’s regulatory compliance.
- Fast Withdrawals: Quick and hassle-free processing times.
Some users mention limited promotions in certain regions, but overall sentiment is positive.
Orbex Pros & Cons
Advantages
- Wide Range of Instruments: Forex, stocks, commodities, and cryptocurrencies.
- Beginner-Friendly Platforms: MT4 and WebTrader are intuitive and reliable.
- Regulated Broker: Overseen by CySEC and FSA for transparency and safety.
- Comprehensive Education: Webinars, eBooks, and video tutorials to support learning.
- Transparent Fees: Competitive spreads with no hidden charges.
Disadvantages
- Limited Promotions: Bonuses are not available in all regions.
- No Proprietary Platform: Relies heavily on MT4 and MT5.
- Withdrawal Delays: Occasional delays during high-demand periods.
Final Thoughts
Orbex is an excellent choice for beginner traders. Its user-friendly platforms, comprehensive educational resources, and transparent fee structure make it easy to start trading with confidence. While it may lack some advanced features, the overall experience is highly positive.
If you’re new to trading and want a reliable broker with strong support and tools, Orbex is worth considering. Open a demo account today to explore its features risk-free and decide if it’s the right fit for your trading journey!