When it comes to binary options trading, finding the right broker can be time-consuming. In this Orbex review, we’ll take a closer look at the Orbex trading platform and evaluate its overall functionality. If you’re new to binary options trading, we recommend starting with an account with a different broker until you find one that meets your specific needs. Read on to discover how Orbex compares to other brokers in the industry.
If you are new to the world of online trading, Orbex fees can be quite intimidating.
Fees and Spreads
- Orbex earns its fees from spreads, as well as from commissions and swap rates.
- The Fixed Spread Account spread on the EUR/USD is 1.9 pips.
- The Starter Account EUR/USD spread starts at 1.7 pips.
- The Premium Account starts with 0.0 pip spread but comes with a commission of $8 per lot.
- Swap rates are published on the website but are best accessed directly from the MT4
Additional Trading Fees
- Traders can expect that overnight fees, or swap fees will be applicable when positions are held for longer than one trading day
- Orbex does / not provide for an Islamic Account for Muslim traders who follow the Sharia Law and are prohibited from earning or paying interest where the holding of open positions is concerned.
Orbex does not charge deposit fees but does charge “storage fees” on certain assets and an inactivity fee on idle accounts
In addition, should traders transfer fees in a currency which is different from their account base currency they may be subjected to currency conversion fees
No withdrawal fees are charged.
Orbex offers several account types, including fixed and floating spreads. The money that you deposit is kept in a separate bank account from the company’s own funds, ensuring the safety of your money. Traders can receive up to 20,000 euros in compensation in case the company goes bankrupt. Using Non-Dealing Desk technology, Orbex executes transactions on the open market. This means that you don’t have to wait for a broker to execute your trades.
The fees at Orbex are low, and their commission rates are generous. If you deposit at least $25,000 to open an account, you can trade EUR/USD with a minimum spread of 0.0 pip. And if you have a large account, you can get reduced commissions by trading with a Premium Account. However, this is unlikely to be the best place to make a large deposit. For new traders, however, the minimum amount for a Standard Account is five thousand dollars.
Opening an Account
You can open an account i these 3 steps:
- Create an account in minutes & upload your documents.
- Make instant deposits to your Orbex Wallet via debit card, wire transfer or your preferred online payment method.
- Download your favorite trading platform on your device of choice & begin trading.
You can choose from one of the four different Orbex account types. These are designed to suit all types of trading and provide competitive trading conditions. If you’re looking for a Forex broker that provides a wide range of account types, you should consider Orbex. You can choose from accounts with different currency amounts and trading options, such as a standard Forex account or a PAMM account. To make sure you’re getting the most from your account, read on to learn about the different Orbex account types.
A VIP account is the highest level of investment at Orbex and is designed for investors who have significant capital. The minimum deposit for a VIP account is around $10,000, and the maximum leverage allows for 1.9x on the EUR/USD. Obviously, the higher leverage is going to result in higher trading costs and a lower return. However, it’s the best way to learn about the trading market and get the most out of it.
In addition to offering three different account types, Orbex is unique in that it allows you to choose from a variety of trading platforms. A standard MT4 trading platform is provided, and the company also partners with TradeWorks to provide a third-party automated trading tool that allows you to trade without a human. Orbex also offers zero spread accounts, which require a minimum deposit of $200. There are also a few account types that cater to less experienced traders. The company takes security seriously, which is important when it comes to online trading. Moreover, all data is encrypted and treated with strict confidentiality.
Deposits & Withdrawals
The deposit and withdrawal options offered by Orbex are extensive and flexible. The company doesn’t charge fees for the first deposit or withdrawal, although some banks might charge for wire transfers. Regardless of the method you choose, you’ll want to check how fast your transaction will be processed. Typically, deposits and withdrawals take less than two hours, while wire transfers should take 3-5 business days. However, if you don’t have a lot of money to spare, you can always try a bank account to save money.
You can fund your account via the secure Orbex wallet
The Orbex Wallet is an online financial wallet that is automatically created for you as soon as you register for a live trading account.
You can fund it immediately after you register using your choice of the funding methods listed below.
|Method||Currencies||Dep. Fee||Time||With. fees||Time||Note|
|Visa||USD-PLN-EUR-GBP||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under Central Bank of Cyprus|
|Master Card||USD-PLN-EUR-GBP||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under Central Bank of Cyprus|
|Skrill||USD-PLN-EUR-GBP||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under FCA – UK|
|Neteller||USD-PLN-EUR-GBP||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under FCA – UK|
|Perfect Money||USD-EUR||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Not regulated|
|UnionPay||USD-CNY||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Not regulated – Incorporated in Russia|
|ENet||USD-KWD||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under FCA – UK|
|Fasapay||USD-IDR||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Not regulated- Incorporated in Sigapore|
|Przelewy24||PLN||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under FCA – UK|
|Poli||USD/GBP/EUR||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Regulated under FCA – UK|
|Crypto||USDT||0.00%||Up to 2 hours||0.00%||Up to 24 hours||Not regulated|
|Bank Wire||USD-EUR-GBP-AED-KWD||0.00%||3-5 business days||0.00%||3-5 business days||Regulated under Central Banks of Incorporation Countries|
MetaTrader 4 trading platform
If you’re looking for an innovative online trading platform, Orbex’s MetaTrader 4 is a leading choice. With this powerful trading platform, you can access the markets from anywhere in the world, and benefit from industry-leading technical analysis reports and signals. You can also take advantage of comprehensive market research and deep geopolitical reviews through Trading Central. The MT4 trading platform for Orbex is available in 17 languages, ensuring a global audience.
MetaTrader 4 is the trading platform of choice for Orbex clients. With the MetaTrader 4 platform, you can manage and trade several real accounts simultaneously. It comes with a range of helpful features, including Expert Advisors and MultiTerminal. It’s also possible to trade multiple real accounts at once, using expert advisors and other strategies. There are four main types of trading accounts at Orbex, depending on which type of account you’re looking to open.
Orbex’s MT4 platform is available in multiple languages and supports social trading and automated trading. Advanced strategies such as scalping and hedging can also be easily managed through Orbex’s MT4 platform. The platform is multilingual and provides a complete history of trades. You can access your account anywhere with the MetaTrader 4 Android app. All types of orders can be placed quickly and easily with MetaTrader 4.
Orbex has extensive educational materials for beginning traders. The materials cover a broad range of topics and are incredibly informative. The Educational Hub features numerous articles, webinars, and educational videos, as well as an extensive glossary of terms and concepts. The Learning Center is a great resource for gaining an overview of the various facets of trading. You’ll also find information on technical analysis, market trends, and how to determine the best time to buy or sell a security.
Orbex offers several educational materials that can help beginners grasp the basics of trading. The numerous educational resources on the website can be helpful for both newcomers and experienced traders. The information provided is informative and multifaceted, with a comprehensive glossary of terms and concepts. The Orbex Educational Hub has multiple videos, articles, webinars, and even an extensive glossary.
Customer support is available twenty-four hours a day, seven days a week, in multiple languages. You can send e-mails to Orbex, start a live chat, or call a support agent to receive a response to your questions. If you’re unable to reach a live representative, you can request a callback. A FAQ page can answer most of your questions, and experts at Orbex analyze transaction costs and non-trading fees to make sure you understand your options.
In addition to offering a wide range of financial instruments and a high standard of customer service, Orbex has been rebranded from AFBFX. This means that its focus on delivering superior customer service is still as strong as ever. The company offers an average one-hour response time for customer inquiries, easy and convenient fund withdrawals, and multilingual support in ten languages. The Orbex Customer Support Team is dedicated to providing comprehensive service and continued professional development, clear client communication, and round-the-clock support. It also offers educational courses and market research.
Orbex Mobile App
To use the Orbex mobile app, all you need to do is download it for free. You may also want to register a trading account. The registration process is simple and only takes a few seconds. After registering, you need to fill out a short form, such as your name, country, and phone number. You will also have to agree to the terms and conditions of the company. Then, you can begin trading.
The mobile application is available for both iOS and Android. It also offers free VPS, Autotrading, and a referral program that offers up to $100 in bonus money.
The Orbex mobile application is designed to make trading on the go a reality. With a variety of assets and multiple transaction methods, Orbex allows you to trade in as many as nine real accounts at one time. Transactions are quick and free, and you can also view which currencies are available to use for your trades. Regardless of the asset you’re trading, Orbex offers the best experience. Once you download the Orbex mobile application, you’ll be trading in no time.
Another benefit to using the Orbex mobile app is the rebate feature. You will be paid a percentage of the transaction cost back to you, which translates into a lower spread and improved win ratio. With this program, you can also invest in stocks and ETFs that you’ve never heard of before, and don’t worry about trading without a mobile device. This is because you can even trade from your smartphone. And, once you’ve made a deposit, you can withdraw it any time you like.
While the app’s charting options are limited, it supports all order types and is easy to use. Mobile traders also like the ease of use of the app. MT4 is one of the most popular trading software in the industry, and is popular for its reliability, security, and multilingual support. Many trading platforms use MT4 technology, so you can use the Orbex mobile app to trade in your favorite currencies.
While the Orbex mobile app has 30 indicators, it is not suitable for sophisticated technical analysis. Its chart layout and low-resolution capabilities make it difficult to read complex indicators on smaller screens. There is no time frame selection option, though. The app offers 24 drawing tools and 9 different timeframes. If you are a beginner in the world of online trading, Orbex will allow you to learn the basics of online investing.