A trader may use the app to monitor the development of a position and possibly terminate it if, for instance, the market turns and losses start accumulating. Orbex’s desktop MT4 platform currently has 30 different trading indicators. Traders can use combinations of indicators from the different types to conduct a multifaceted analysis of the price action depending on the underlying market sentiment.

The broker has the phone numbers for their different offices on their website. If you’re a resident of the EU, it might be best to call the Cyprus number. You can even request a call back by filling the ‘Call Back Request’ form. I have always fount the brokers support to be a pleasure to deal with although feel they could improve by providing 24/7 support like FP Markets do. AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks & Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Orbex com Cyprus Based Forex Trading Broker Review

Orbex provides you with various applications of the ever-popular MetaTrader 4 trading platform, including the MT4 Client Desktop, Android Trader, and the MT4 iPhone & iPad Trader. I have been using MT4 for many years and find it to be one of the best trading platforms for manual and automated trading. It is easy to use, fully customisable and loaded with tools for conducting in-depth market analysis across multiple chart types and timeframes. I think it is the ideal platform for beginners due to the intuitive layout whilst it has enough features to satisfy the needs of the most demanding of traders.

Technical analyses – In a paragraph or two, each separate analysis breaks down a trading set-up currently emerging on a given instrument by outlining key support and resistance levels and potential target levels. Orbex’s technical analyses should be read in conjunction with its fundamental analyses. Video breakdowns – Orbex’s video content is the most accessible of the bunch. Each video focuses on a major economic event (for instance, ECB’s latest policy decision) and studies its likely impact on the price action of a given instrument or set of instruments.

These are updated daily to ensure that all their clients stay up to date on the current market trends. It provides detailed technical analysis reports on currencies, metals, and indices, over a range of different time frames. When you refer a friend and they open an account and start trading you receive $100. The Standard Account spreads are starting from 1.5 pips and operated through floating or variable spread nature allowing you to perform scalping or other strategies. Orbex lists ECN trading as part of the MT4 capabilities which is impossible without the use of a bridge.

How do I open an account with Orbex?

We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders. International traders can choose from Orbex’s multiple transaction canadian forex reviews methods and use 9 different currencies to fund their accounts. Transactions are processed quickly and are not charged by the broker, though third-party costs like banking fees may apply.

A leading provider in Elliott Wave research, Orbex analysis is frequently featured across global financial outlets, including Bloomberg, Refinitiv Eikon, and CNBC. I think there is more than enough educational content available, even for beginner traders with no prior experience. Orbex provides an MT4 application for Android and iOS smartphones and tablets so that you can trade on the go.

Despite the somewhat rugged outlook of the chart, which makes the price action appear more static than it is, MT4’s charts are nonetheless practical. Traders can populate them with multiple indicators and drawing tools, allowing them to compartmentalise different portions of the price action and examine the underlying market sentiment. Orbex charges a 20 inactivity fee for dormant accounts on which no activity has been registered for 6 months or more. This fee is charged monthly until trading activity resumes or the account balance drops to zero. There is an $8 commission per round-turn contract on an Orbex Premium account and a $5 commission per round-turn contract on an Orbex Ultimate account.

We do not provide investment advice, offer or make solicitation of any investment products. Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. Orbex provides free VPS to clients who want to have expert advisors trade for them 24 hours a day and 5 days a week without any internet interruption. The VPS comes with some benefits like not missing any trade setups and increased execution speed.

Mobile Trading

The best way for you to know that a Forex broker is not a scam is by checking their regulatory status. When you see that they hold a valid license from a financial regulator, you can be sure that they are a legitimate broker. The company includes Orbex Limited, which is regulated by CySec in Cyprus, and Orbex Global Ltd which is regulated by the Mauritius Financial Services Commission . For Cons, Support not available 24/7 and instruments limited to Only CFD products. As mentioned previously, Orbex Holding LTD has been regulated by the Cyprus Securities and Exchange Commission (License Number 124/10) since 2015.

You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker. Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis.

There are Forex brokers who make great use of the MT4 platform which can become a lot more powerful if used with third party modifications. Orbex provides good market trading conditions on major currencies and 50 pairs of instruments. You will have access to a diverse range of products including Foreign Exchange, Precious Metals, Future Contracts , Equity Indices , CFD’s, and Energy Contracts. Execution-only brokers, that is a broker that does not involve in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions. The minimum deposit amount depends on the account type you want to trade with.

Deposit and withdrawal

Orbex has many of the important trading calculators on their website. They include the pip and margin calculator, risk calculator, pivot point calculator, laughing at wall street and currency converter. These calculators can be handy if you need to plan your trades in a rush or if you are just not very good at maths.

To be an Orbex trader is not only to be served responsibly, but also to join a community of responsible and informed traders who respect their capital and trade with wisdom, insight and caution. Orbex is a fully licensed and regulated Forex broker, operating since 2010. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

Additionally, an FAQ section is available which should cover most basic questions. Usually customer service is something most traders will never require, but given the trading environment and conditions at Orbex, it may be good to keep the contact details nearby. The Fixed Spread Account starts from a minimum deposit of $500 and the spread on the EUR/USD is listed as 1.9 pips. This is extremely high, and makes this account type useless to any trader. The Starter Account has a minimum deposit of $200 and the EUR/USD spread starts at 1.7 pips.

Traders Reviews

The company puts an emphasis on openness, offering NDD-format trading and voicing all the conditions before the client registers a trading account. They may be lacking features, but they still provide one of the best services you can get from the typical forex broker. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation.

Orbex is an online multi-asset broker that was founded in the year 2010. This company is also known as Orbex Global Limited and Orbex Limited. They have won more than a handful of rewards, including the Best Forex Broker Europe, West Asia, and North Africa 2020. The broker has a blog section with tons of articles on the common topics a new trader should know. The tutorials cover most of the technical indicators, various aspects of MT4 and how to use them, and some elements of fundamental analysis. The broker has a huge catalogue of free video tutorials available to their clients.

In addition, there are easy-to-use tutorials and a lot of training materials on the market, because every trader knows that it takes a lot of effort and time before luck comes to you. Orbex.com provides MetaTrader 4 software which is the best Forex trading platform according to reviews. You must understand that Forex trading, while potentially profitable, can make you lose your money. I have to thank Orbex for the excellent experience from the last year.

Orbex offers three different types of accounts for beginners and well-seasoned traders. All three of these accounts have a stop-out level of 20% with an execution type of NDD or No Dealing Desk. 75% of retail investor accounts lose money when trading CFDs with this provider. This account type is offered exclusively to Muslim clients, and there must be a proof of religion to open one. The account is swap-free which makes it compliant with Sharia law as you don’t pay any interest.

Markets

The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods. There is no indication on the Orbex website whether bonuses or awards are offered to clients. The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. There are no typical fees for transfers from Orbex, but make sure with your payment provider in case there are any internal fees charged on you.

It is considered low-risk Forex trading with Orbex or with tier-1 CySEC regulated broker. Orbex already quite known and operates for a while also participates to various exhibitions and received numerous international awards along with the big number of active traders. That all in all confirm its status and reputable position in the industry, which we will also see in detail further within our origin ecn. Clients have the choice to open an account with either Orbex LTD which is regulated by CySEC and under the EU framework, or with Orbex Global LTD which is regulated by the FSC in Mauritius. Following that choice, the registration form is the same two-step online application which should take less than two minutes to complete. Traders will have to submit verification documents are required by regulators in order to comply with KYC and AML regulations.

Much like currency markets, stocks are exclusively available to trade at Orbex via CFDs, or Contracts for Difference. This means that you can trade the price movements of a particular asset or company, without purchasing the physical shares themselves. If you believe the price of a stock CFD will go up, you may take a long position. If you believe the price of a stock will go down, you may choose to take a short position.

Orbex Global was registered in 2011 and has opened offices in Kuwait and Jordan. In terms of clarity, we found the broker to have a very high general transparency. In our reviews, we examine the licences and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licences by various regulatory bodies on a three-tier system, where tier-1 licencing indicates the highest level of regulation. Orbex is authorised by regulators entailing varying degrees of protection, which is why the broker scored average in the Trust category.

For instance, stop-loss orders are placed at a distance from the initial entry of a primary position in order to cap the potential loss that would be incurred if the price action goes against the primary position. Once the price action reaches the execution price level of a stop order, it gets transformed into a market order. Once the price action reaches the execution price level of a stop order, it gets transformed into a market order and then gets filled at the best possible price. The mobile version of the MT4 platform retains most of the features available on the desktop version.