Orbex Review
3.48 •
24 REVIEWS
Formerly AFBFx.com
Orbex, formerly AFBFx, is an online forex broker. Orbex.com offers the MetaTrader 4, MT Mobile, MT4 Mac and WebTrader forex currency trading top platforms. Orbex offers over 35 currency pairs, metals, equities, indices, energies, commodities, and futures for your personal investment and trading options.
Formerly AFBFx.com
Broker Details
| Minimum Trade Size: | 0.01 |
|---|
| Maximum Leverage: | 500:1 |
|---|
| Minimum to Open Live: | $200 |
|---|
| Established: | 2010 |
|---|---|
| Address: | 2nd Street, No.6, Ground Floor, 4153 Kato Polemidia Limassol, Cyprus Office, Cyprus |
| Contact: | support@orbex.com, +357 25588855 |
| Regional offices: | |
| Regulators: | CySEC #124/10, FSC Mauritius #FS-4.1, SEC-2.1B |
| Prohibited countries: |
| Trading platforms: | MT4 |
|---|
| Web Trading: | ✅ Yes |
|---|---|
| Mobile Trading: | ✅ Yes |
| Currencies: | (35+) |
|---|---|
| Cryptocurrencies: | |
| CFD: | (5+) Gold, Silver, Stock Indexes, Oil |
Trading Conditions |
|
| EAs/Robots: | ✅ Yes |
|---|---|
| News Trading: | ✅ Yes |
| Scalping: | ✅ Yes |
| Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, KNET Payment Gateway, Neteller, Skrill, WebMoney, Zotapay |
|---|
| Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, KNET Payment Gateway, Neteller, Skrill, WebMoney, Zotapay |
|---|
3.48 •
24 REVIEWS
Recent User Reviews of Orbex
Mohammed Mohsen
Dubai, United Arab Emirates,
Mar 21, 2023,
Registered user
Good company
Service use: Live
Length of use: 0-3 Months
Orbex has a speed in responding to messages, and also the deposit and withdrawal service is very fast, and their dealings are very sophisticated with customers, and the company is excellent for trading and investing in it
masriamer
Amman, Jordan,
Feb 16, 2023,
Registered user
The best online trading company
Service use: Live
Length of use: over 1 Year
Amazing services , great execution and fast deposit /withdrawal process...thanks for the wonderful Orbex team.
M
Master Trader
Portugal, Portugal,
Jun 24, 2021,
Registered user
ORBEX IS A FAKE BROKER!!!!! SCAM SCAM SCAM SCAM!!!!
Service use: Live
Length of use: 3-6 Months
ORBEX IS A FAKE BROKER!!!!! SCAM SCAM SCAM SCAM!!!! Yesterday after successful trading and make a good profit, Orbex email me that i was abusing the platform and its prices. Also, they have admitted that they delay prices for its clients which is ILLEGAL, MARKET MANIPULATORS!!!!!!!!! Regulators should step in and stop companies like this to operate on the markets!!!! A few months ago i operate there and lost money, they withdraw very fast without an issue, now that i have profits they try to scam me!! RUNAWAY FROM ORBEX!!!
M
Reply by OrbexLtd submitted Jul 7, 2021:
Dear Master Trader,
We are sorry that you are experiencing issues with your requested withdrawal.
Upon investigating your case, it was discovered that Latency Arbitrage was used on the account, which is considered by the official Orbex Terms and Conditions to be a prohibited trading strategy.
For reference, please see article 9.5 on the link below:
https://cdn.orbex.com/wp-content/uploads/Global/2020/11/29093136/527511CFD-client-agreement.pdf
According to our CFD Client agreement, Orbex has the right to take action in the event of a breach of the binding trading conditions. As a result, the profits achieved using this prohibited method are not valid, and do not qualify for withdrawal.
Please note that the above agreement was signed prior to the ordered trades, and that the initially deposited sum is still available for withdrawal should you wish to request it, as previously mentioned.
Providing our traders with a smooth trading experience is our top priority.
Thank you for your understanding.
Yours faithfully,
The Orbex Team
We are sorry that you are experiencing issues with your requested withdrawal.
Upon investigating your case, it was discovered that Latency Arbitrage was used on the account, which is considered by the official Orbex Terms and Conditions to be a prohibited trading strategy.
For reference, please see article 9.5 on the link below:
https://cdn.orbex.com/wp-content/uploads/Global/2020/11/29093136/527511CFD-client-agreement.pdf
According to our CFD Client agreement, Orbex has the right to take action in the event of a breach of the binding trading conditions. As a result, the profits achieved using this prohibited method are not valid, and do not qualify for withdrawal.
Please note that the above agreement was signed prior to the ordered trades, and that the initially deposited sum is still available for withdrawal should you wish to request it, as previously mentioned.
Providing our traders with a smooth trading experience is our top priority.
Thank you for your understanding.
Yours faithfully,
The Orbex Team
Top Secret
Moscow, Russian Federation,
Apr 8, 2021,
Registered user
Canceled my profit!!! Orbex scam!
Service use: Live
Length of use: 6-12 Months
They cancel big profits. Cancelled $3,000. My account is 74514
I asked them to give me an official claim number, but after a month I did not receive it. I will sent complain to the regulator. Canceled profits that are classified as illegal transactions. How they may not be legal, if I trade at their terminals on their quotes. They're getting a transaction fee from me.
Second account 71673, my wife. I traded there earlier, the profit was about 700 dollars, they paid it to me!!! how so? trading strategy is the same!
I asked them to give me an official claim number, but after a month I did not receive it. I will sent complain to the regulator. Canceled profits that are classified as illegal transactions. How they may not be legal, if I trade at their terminals on their quotes. They're getting a transaction fee from me.
Second account 71673, my wife. I traded there earlier, the profit was about 700 dollars, they paid it to me!!! how so? trading strategy is the same!
1 trader has found this review helpful
T
Reply by OrbexLtd submitted Apr 23, 2021:
Dear Sir,
We are very sorry for your non-satisfying experience with Orbex Broker. We want to point out that we hold nothing against our clients since, as you stated, all trades were canceled, including the losing ones, and you were able to withdraw the initial balance without getting charged any transaction fees.
An official complaint number is issued and already got provided to you. You may use it to track your case accordingly.
We encourage using any resources to help our clients perform better, as long as they are legitimate, except when their trading behavior is deemed arbitrary and abusive.
At Orbex, we pride ourselves on our healthy and thriving trading community, which you are welcome to join again at any time, as long as you adhere to our trading conditions, whose purpose is to provide equal opportunities for all investors.
Sincerely,
The Orbex Team
We are very sorry for your non-satisfying experience with Orbex Broker. We want to point out that we hold nothing against our clients since, as you stated, all trades were canceled, including the losing ones, and you were able to withdraw the initial balance without getting charged any transaction fees.
An official complaint number is issued and already got provided to you. You may use it to track your case accordingly.
We encourage using any resources to help our clients perform better, as long as they are legitimate, except when their trading behavior is deemed arbitrary and abusive.
At Orbex, we pride ourselves on our healthy and thriving trading community, which you are welcome to join again at any time, as long as you adhere to our trading conditions, whose purpose is to provide equal opportunities for all investors.
Sincerely,
The Orbex Team
Specktor
Voronezh, Russian Federation,
Apr 5, 2021,
Registered user
SCAM Do not pay money in full
Service use: Live
Length of use: 0-3 Months
On March 5, I sent a request for withdrawal of funds in the amount of $ 6718.77. I received only $ 6506 in my bank account. When contacting the support service, they answered that the commission was charged by the card provider. I checked with my bank, no commissions were charged. I want to return the remaining $ 212.77
S
Reply by OrbexLtd submitted Apr 23, 2021:
Dear Sir,
Thank you for your feedback.
As you can see on our Deposit and Withdrawal sections, we state that whenever the Company identifies an abuse on our 0.00% fees policy, we can freely decide whether the client will be entitled or not to the fees the Card Processors we cooperate with charge. This condition is something that every client agrees to when submitting a deposit or a withdrawal with us.
It is worth mentioning that you have deposited an amount relatively large ($6718.77) compared to the total traded volume, which was 0.11 Lots.
Lastly, and to clarify, the fees you mention are not charged from the card issuer/provider (your Bank) but the card processor.
Thank you for your understanding.
Sincerely,
The Orbex Team
Thank you for your feedback.
As you can see on our Deposit and Withdrawal sections, we state that whenever the Company identifies an abuse on our 0.00% fees policy, we can freely decide whether the client will be entitled or not to the fees the Card Processors we cooperate with charge. This condition is something that every client agrees to when submitting a deposit or a withdrawal with us.
It is worth mentioning that you have deposited an amount relatively large ($6718.77) compared to the total traded volume, which was 0.11 Lots.
Lastly, and to clarify, the fees you mention are not charged from the card issuer/provider (your Bank) but the card processor.
Thank you for your understanding.
Sincerely,
The Orbex Team
C
cryptoserg1
Wroclaw, Poland,
Apr 5, 2021,
Registered user
WARNING! GREEDY COMPANY
Service use: Live
Length of use: 0-3 Months
i am registered in orbex on 29 March 2021, and deposited 8900$, but me dont like order execution in broker and today 04 April 2021 i send withdrawal request. They refund from first deposited 8900$ only 8463.56$. Orbex robbed me on 436USD. Will be careful with this broker.
C
Reply by OrbexLtd submitted Apr 23, 2021:
Dear Sir,
Thank you for your feedback.
Although we empathize with you, kindly note that you have deposited an amount relatively large ($8900) compared to the total traded volume, which was 0.06 Lots. As you intended to test our execution speed, and as the margin requirement needed for the mentioned traded volume was roughly around $15, you could have just deposited the minimum requirement of $200.
Lastly, upon any withdrawal request, you agree to our terms and conditions that clearly state that whenever the Company identifies an abuse on our 0.00% fees policy, it can decide freely whether the client will be entitled or not to the fees the Online Payment Processors we cooperate with charge.
Thank you for your understanding.
Sincerely,
The Orbex Team
Thank you for your feedback.
Although we empathize with you, kindly note that you have deposited an amount relatively large ($8900) compared to the total traded volume, which was 0.06 Lots. As you intended to test our execution speed, and as the margin requirement needed for the mentioned traded volume was roughly around $15, you could have just deposited the minimum requirement of $200.
Lastly, upon any withdrawal request, you agree to our terms and conditions that clearly state that whenever the Company identifies an abuse on our 0.00% fees policy, it can decide freely whether the client will be entitled or not to the fees the Online Payment Processors we cooperate with charge.
Thank you for your understanding.
Sincerely,
The Orbex Team
rabihfx
conakry, Guinea,
Dec 19, 2020,
Registered user
Best broker ever used
Service use: Live
Length of use: over 1 Year
orbex is very honest broker
excellent support
fast deposit and withdrawal
regulated and the best broker in the world
excellent support
fast deposit and withdrawal
regulated and the best broker in the world
R
Ramona Alina
Dublin, Ireland,
Nov 1, 2020,
Guest
Avoid at all cost
Service use: Live
Length of use: 0-3 Months
First of all I would like to highlight that although I'm an EU citizen my trading account was opened in Mauritius. I traded with the company for more than a month and the things were going alright and managed to make some around E2000, but than it started to loose money so I decided to open a sub account in case the spreads were changed.
but when I sent a withdrawal request for some of the funds I received an email that after an internal investigation suggested that the strategy used is not allowed so all the profits and loses were cancelled. So I woke up to O balance in my account, bare in mind that initial deposit was E500.
all I used was an Expert Advisor and their term and conditions specified that EAs, hedging and scalping are allowed.
before you sign up with them think if it's worth to take the risk!! if you manage to make profits they can always take advantage of Art 9 of their terms and conditions which are unclear in regards your trading strategy.
I raised a complaint with them and they refuse to give me a Case Id which states no one actually taking this serious.
but when I sent a withdrawal request for some of the funds I received an email that after an internal investigation suggested that the strategy used is not allowed so all the profits and loses were cancelled. So I woke up to O balance in my account, bare in mind that initial deposit was E500.
all I used was an Expert Advisor and their term and conditions specified that EAs, hedging and scalping are allowed.
before you sign up with them think if it's worth to take the risk!! if you manage to make profits they can always take advantage of Art 9 of their terms and conditions which are unclear in regards your trading strategy.
I raised a complaint with them and they refuse to give me a Case Id which states no one actually taking this serious.
R
Reply by OrbexLtd submitted Jan 29, 2021:
Dear Ramona,
We are deeply sorry for your experience. And although these events were highly unfortunate, we would like to stress that we have no bias against our clients, since as you mentioned; all trades were canceled, including the losing ones, and you were able to withdraw the initial balance. That being said, your account was automatically flagged for using an abusive trading technique and we were forced to act accordingly.
Furthermore, regarding the use of EAs, we would like to point out that these run on the client's end and we have no control over their behavior. And generally, we do encourage the use of any resources that would help our clients perform better, as long as they are legitimate, except when the trading behavior is deemed abusive.
At Orbex, we pride ourselves on our healthy and thriving trading community, which you are welcome to join again at anytime as long as you adhere to our trading conditions.
Sincerely,
The Orbex Team
We are deeply sorry for your experience. And although these events were highly unfortunate, we would like to stress that we have no bias against our clients, since as you mentioned; all trades were canceled, including the losing ones, and you were able to withdraw the initial balance. That being said, your account was automatically flagged for using an abusive trading technique and we were forced to act accordingly.
Furthermore, regarding the use of EAs, we would like to point out that these run on the client's end and we have no control over their behavior. And generally, we do encourage the use of any resources that would help our clients perform better, as long as they are legitimate, except when the trading behavior is deemed abusive.
At Orbex, we pride ourselves on our healthy and thriving trading community, which you are welcome to join again at anytime as long as you adhere to our trading conditions.
Sincerely,
The Orbex Team
S
stche76
Singapore, Singapore,
Jun 18, 2020,
Registered user
Honest and reliable broker
Service use: Live
Length of use: over 1 Year
I thought of sharing my experiences with ORBEX. I have been using ORBEX for around 2 years. So far, it has been good. Deposit is instant and withdrawl is within 24 hours (I am using Skrill). Moreover, there are no fees associated with deposit and withdrawl. I have a good account manager: Wael Alsattouf who helps me whenever I have issues. Spreads for major pairs such as EURUSD are acceptable. During volatile times, it will widen which is the norm for all brokers. Overall, ORBEX is an honest and reliable broker.
C
Clement Marshall
Switzerland,
Jan 7, 2019,
Guest
Good spreads. As a part time trader I want the lowest transaction costs. This broker provides exactly that and with a fast and reliable withdrawal service. I trade here and with 2 other brokers.
Frequently Asked Questions
Is Orbex regulated?
Orbex Limited operates under two entities: Orbex Limited and Orbex Global Limited. Each entity is regulated by its respective authorities.
- Orbex Limited is regulated by Cyprus Securities and Exchange Commission(CySEC) under license 124/10.
- Orbex Global Limited is regulated by Mauritius Financial Services Commission (FSC) with license FS-4.1 and SEC-2.1B.
What is the minimum deposit to open Orbex accounts?
The minimum deposit to open an Orbex account depends on the account type.
- Starter account: $200
- Fixed account: $500
- Premium account: $5,000
- Unlimited account: $25,000
What is the maximum leverage for Orbex?
The maximum leverage for Orbex under their FSC regulated branch is 500:1 for all available accounts.
The maximum leverage for Orbex under their CySEC regulated branch is 30:1 for all available accounts.
The maximum leverage for Orbex under their CySEC regulated branch is 30:1 for all available accounts.
Does Orbex accept US clients?
Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.