Orbex Review 2022

Orbex logo
Orbex Facts & Figures

Orbex is a trusted forex broker offering several accounts & the MT4 platform.

InstrumentsForex, CFDs, indices, commodities, futures
Demo AccountYes
Min. Deposit$200
PaymentsNeteller, Skrill, Webmoney, Visa, FasaPay, Cashu, Credit Card
Min. Trade0.01 lots
Regulated ByCySEC, BaFin, FSC (Mauritius)
MetaTrader 4Yes
MetaTrader 5No
DMA AccountNo
ECN AccountYes
Social TradingNo
Copy TradingNo
Auto TradingYes (EAs)
Signals ServiceYes
Mobile AppsYes
Islamic AccountYes
AwardsBest FX Broker Europe 2020 - Global Banking & Finance Review
Best FX Broker Mena 2020 - Global Banking & Financing Review
Best Forex Broker 2019 - Global Banking & Finance Review
Best Trading Education Provider 2018

Trade CFDs with leverage and ultra-low spreads.

FTSE Spread1.5
GBPUSD SpreadFrom 0
Oil Spread1.8
Stocks SpreadVariable

Trade forex pairs with zero pip spreads.

GBPUSD SpreadFrom 0
EURUSD SpreadFrom 0
GBPEUR SpreadFrom 0.5

Trade on 66 leading US & EU stocks.

Risk Warning – Your Capital is at risk

Orbex is a no-dealing-desk CFD broker that specialises in ultra-fast trade execution. The firm offers competitive forex trading conditions, tight spreads and the use of the MetaTrader 4 trading platform. This 2022 review explores and outlines the defining features of the firm, such as minimum deposit requirements, demo account availability, deposit and withdrawal fees and the various account types offered. Stay tuned to learn whether Orbex is the right investing partner for you.

About Orbex

In its ten-year history in the global trading space, Orbex Global Ltd. has established itself as a leading international broker and won several awards for its services. A subsidiary of Mauritius-based Orbex Group, the broker has its headquarters in Limassol, Cyprus and is regulated by the Mauritius Financial Services Commission.


Orbex provides over 250 CFD instruments from various markets, including forex, crypto, stocks and ETFs.


A total of 44 forex instruments are available from Orbex, spanning major, minor and exotic pairs. Average spreads on the EUR/USD pair are relatively high on the STP Starter account at 1.5 pips but start from 0.0 pips on the Premium and Ultimate ECN accounts.


The broker’s support for indices is slightly disappointing, with only five available from the UK, US and Europe. Popular global indices such as the Australian ASX 200, Japanese Nikkei 225 and VIX 70 are absent, with traders restricted to three major US exchanges, the DAX 40 and UK FTSE 100.

Spreads on the S&P 500 index start at 0.8 pips on ECN account types and 3.0 pips on the Starter account.


As with indices, the list of commodities instruments is fairly limited. The broker offers four metals markets and three fuels, including gold, silver, natural gas and WTI crude oil. There is no support for soft commodities such as cotton or wheat.

Spreads start from 0.05 pips on gold and 0.7 pips on platinum with an ECN account.

Stocks & ETFs

More than 250 share and ETF CFDs are available for speculation through Orbex. Investors can access 205 US, 32 UK and 14 European instruments, allowing speculation on some of the most popular public global companies.


While FCA-regulated firms are prohibited from offering crypto derivatives to UK clients, this broker is regulated in Mauritius and free from such restrictions. The broker provides 11 crypto CFD products to traders from all jurisdictions, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Polkadot (DOT).


Orbex allows clients to utilise leverage rates of up to 1:500 on selected assets, which is a very competitive ratio for a retail broker. Margin works on a scaling system, with maximum leverage decreasing to 1:300 when an account’s active trading volume exceeds 20 lots, then to 1:100 when exceeding 40 lots.

However, the default maximum leverage available to new clients is 1:30, with traders needing to contact the company to raise this value. Details on how to get in touch with Orbex support are listed later in the review.

The firm has a universal margin call level on all account types at 100%. It also enforces a stop-out on leverage positions at 20%.

Account Types

Orbex clients are offered a choice of three account types, with varying execution models, initial minimum deposit amounts and trading commissions.

All accounts are available in four base currencies, including GBP. A swap-free Islamic account is provided for those restricted from paying interest due to their faith.

Starter Account

The most basic account offered by Orbex is the Starter account. This variant is designed for low-stakes or beginner traders and uses the STP execution style for commission-free trading. Conversely, users only have access to the basic level of educational content with this account, although this does include monthly webinars.

Starter spreads are variable. A representative value for the Euro/USD forex pair is 1.5 pips. This account requires a minimum initial deposit of £80 and supports leverage of up to 1:500.

Premium Account

The first of the two Orbex ECN accounts is the Premium account. Commission stands at £6.50 per round traded lot while spreads start from 0.0 pips on major assets. The minimum funding amount to open a Premium account is £400 and up to 1:500 leverage is available.

Traders can take advantage of exclusive webinars, access to advanced educational content and a one-on-one training session with an industry expert.

Ultimate Account

The Orbex Ultimate account uses the ECN execution style to offer competitive spreads from 0.0 pips and ultra-low trading commissions of £4 per round traded lot. In addition to the Premium account’s features, two extra one-on-one training sessions are provided.

While these features and spreads will attract many investors, a steep minimum investment requirement of £20,500 will prevent many from accessing this variant.

Demo Account

For many investors, being able to trial a specific broker before committing to a live account is non-negotiable. Orbex satisfies this need by providing a free demo account through the MetaTrader 4 platform, with the option to simulate the trading conditions of any of the three real accounts.

While users can create a demo account with up to 5,000,000 units of paper funds, GBP is not a supported base currency for the trial. Traders instead must choose between USD, EUR and PLN.

Trading Platforms

Orbex provides clients with only one trading platform option – MetaTrader 4 (MT4).

MetaTrader 4 has been hugely popular amongst forex traders since its release in 2005 due to its straightforward interface, advanced charting capabilities and effective automated trading system. In addition, custom alerts and hotkeys mean that traders will not miss an opportunity, while backtesting support helps users craft custom, data-backed strategies.

The platform supports nine order types, 30 indicators and 31 graphical objects as standard, as well as nine chart timeframes. Users can download custom EAs and indicators, such as the Elliot Wave indicator, from the MQL4 marketplace, while those that fancy themselves coders can create their own algorithms.

MetaTrader 4

MetaTrader 4 is available to download on Windows, Mac and Linux and can be accessed through the browser-based WebTrader service.

Mobile Apps

MetaTrader 4 has a mobile app variant available for Android and iOS devices, which is fully compatible with an Orbex account.

While there is an Orbex app on the Google Play store, the broker’s website does not mention a proprietary app and, as such, this platform should be treated with caution.

Payment Methods

Several funding options for the Orbex wallet are available to UK traders, including payment card, bank wire and e-wallet services Skrill and Neteller. Crypto funding using USDT is also accepted, though this may not be as secure as other methods.

While the broker advertises instant deposits on most methods, further examination reveals that processing times can take up to two hours on crypto, card and e-wallet transfers. In addition, bank wire transfers take 3-5 business days to clear. Other than the initial account funding requirements, there is no minimum amount stated for subsequent deposits.

Withdrawals can take up to 24 hours to clear for most methods, while bank wires take 3-5 working days to process. The Orbex minimum withdrawal requirements are £40 for cards and e-wallets or £160 for bank wire transfers.

Deposit & Withdrawal Fees

Transaction fees can eat into trading profits before a position is even open, so many investors are reluctant to deal with brokers that enforce them. Orbex levies no deposit or withdrawal fees on any of its supported payment methods, including Skrill and Neteller.

However, external fees may apply for crypto and bank wire transfers, with typical charges ranging from £20-30 per transaction.

Trading Fees

Orbex charges commissions on positions for ECN accounts. This stands at £6.50 per round traded lot with the Premium account and £4 per round traded lot for Ultimate variant traders.

However, separate commissions are applied when trading stock and crypto CFDs. For example, equity positions are subject to a 0.16% commission per round traded lot. In comparison, crypto trades require a 0.5% commission per round traded lot. While these percentages seem small, with high-value assets such as Bitcoin, these charges can often be significant.

Additionally, Orbex accounts that remain dormant for six months or more can be charged a £20 per month inactivity fee for up to 12 months. Note that accounts with zero balance are not subject to this charge.

Open positions maintained overnight are subject to a swap fee unless you use a swap-free halal account. While many brokers display these charges on their websites, clients must view the specific rate for each asset through the MetaTrader 4 platform.

Security & Regulation

Choosing a brokerage with a reputable regulator is one of the best defences you have against fraudulent firms. Orbex is regulated by the Mauritius Financial Services Commission, which unfortunately does not offer the top-tier protection that a body such as the FCA or ASIC provides.

However, the broker does employ security measures such as negative balance protection and holds client funds in segregated bank accounts. In addition, the firm is part of the international Investor Compensation Fund program, protecting clients for £17,000 per member in case of broker insolvency.

Disappointingly, the brokerage does not provide additional login protection through two-factor authentication (2FA) for the myOrbex client area, though investors can set up 2FA separately for the MetaTrader 4 platform.

Customer Support

Whether you wish to close your account, have login issues or want more information on the different account types, the Orbex support team is available 24 hours a day, from Monday to Friday.

The broker provides several options to contact its help team, including a live chat portal, support email addresses and a query form embedded in the website. Though there is no support telephone number, the company offers a free call-back service, allowing traders to pick a convenient time in their specific time zone.

  • Support Email – support@orbex.com
  • Complaints Email – complaints@orbex.com

For common queries and issues, Orbex provides a help section on its website, covering topics such as KYC verification, payment methods and accessing Trading Central and MetaTrader 4.

Educational Content

One area in which Orbex excels is its educational content, with a wealth of articles, videos, e-books, webinars and quizzes available to its clients. With content designed for everyone from beginners to advanced investors, the broker covers technical analysis using indicators such as the Elliott Wave, trading psychology, building expert advisors and much more.

Daily blog posts inform investors about the latest market developments and news. At the same time, a comprehensive glossary clarifies the often confusing language of trading.

Premium and Ultimate account holders can also take advantage of one-on-one training sessions with an industry professional, advanced educational content and exclusive webinars.

Advantages Of Orbex

  • Crypto CFDs
  • No transaction fees
  • STP & ECN accounts
  • Good range of stocks
  • GBP account support
  • Strong educational content

Disadvantages Of Orbex

  • Weak regulation
  • One trading platform
  • No telephone support
  • Limited indices and commodities
  • Very high minimum deposit for the Ultimate account


Many brokers use promotions such as commission rebates and no deposit bonus schemes to entice new clients to their platforms and encourage high-volume trading.

To celebrate its 11th anniversary, Orbex runs a quarterly competition giving away gold bars to six eligible clients. Traders earn a ticket in the draw for every 20 lots traded, with the top prize a 350g gold bullion bar worth over £17,000.

Additional Features

The best firms offer clients a range of additional features to enhance their trading experience.

Orbex provides traders with several calculators for previewing positions, an economic calendar with upcoming market news and free VPS access.

Additionally, account holders have access to Trading Central, a respected educational content and signals platform. Traders can benefit from independent market analysis and daily technical levels for several primary CFD instruments through a complimentary plugin for the MetaTrader 4 platform.

Trading Hours

Orbex follows the trading hours of the broader forex and CFD markets. Forex pairs trade 24 hours a day from Monday to Friday, while assets such as stocks and indices follow their local exchange hours during the week.

Clients can access the myOrbex account login 24/7 to make deposits and withdrawals or upload KYC documentation.

Orbex Verdict

Orbex is a promising broker with many positive features, such as MT4 access, ECN and STP accounts, class-leading educational content and attractive promotional events. Crypto CFD support, plenty of funding options and GBP base currency support are also great for UK investors. However, some prospective clients may be put off by the company’s limited commodity and index instruments and lack of top-tier regulation.


Dos Orbex Offer A No Deposit Bonus?

While Orbex does not offer a no deposit bonus, the company runs a promotion where six high-volume traders win gold bullion worth up to £17,000.

Which Trading Platforms Does Orbex Support?

Orbex offers a singular trading platform – MetaTrader 4.

What Are The Orbex Minimum Deposit Requirements?

Orbex requires a minimum initial deposit of £80 to open a Starter account, £400 for a Premium ECN account and £20,500 for the Ultimate account variant.

Can I Find Market News On The Orbex Website?

Orbex provides a free economic calendar with upcoming market news and daily and weekly market reports on its blog.

Does Orbex Offer An Islamic Account?

Yes, Orbex offers a swap-free Islamic variant for each of its three trading accounts.

Orbex vs Other Brokers

If you want to compare Orbex with other brokers, use the detailed comparisons below.

Orbex vs
Orbex is a trusted forex broker offering several accounts & the MT4 platform.