Orbex review

Risk warning: CFDs and leveraged trading can lead to rapid losses. You may lose money, so understand the risks before trading.

Orbex is a leveraged FX and CFD broker whose strongest fit is for traders who want MetaTrader 4 or 5 alongside instructor-led education and market research. Its three accounts span Starter’s spread-only pricing and raw-spread accounts with commissions, but the entry points differ sharply: Starter requires $100, while Ultimate requires $25,000. The main concern is the entity-specific regulatory position: Orbex Ltd’s CySEC licence is under examination for voluntary renunciation, and offshore clients have no statutory investor-fund coverage stated here. Orbex may suit traders comfortable with those account and entity trade-offs, but EU/EEA clients should establish the current status and contracting entity first.

How we reviewed it: This review assesses Orbex’s stated account terms, platform range, markets, fees and entity-specific regulatory information. We do not present those terms as the result of first-hand trading or withdrawal tests. See our review methodology.

Orbex’s regulatory position depends on which entity serves the client. Offshore services are associated with the FSC Mauritius and FSA Seychelles, while Orbex Ltd’s CySEC licence 124/10 for EU/EEA clients is under examination for voluntary renunciation. Confirm the contracting entity and relevant regulator register entry before opening an account; regulation and stated safeguards do not eliminate trading risk.

Regulation and Client Protections

Segregation and negative balance protection are stated safeguards, not guarantees against trading losses. The Cyprus Investor Compensation Fund covers only qualifying claims, not ordinary trading losses; the offshore entities have no statutory fund coverage stated here.

Orbex’s pricing choice is between a spread-only account and raw spreads with a commission. To compare trading costs, consider both components together, along with any overnight financing: a lower quoted spread does not by itself establish a lower total cost. The account-specific pricing and deposit thresholds are set out below.

Spreads, Commissions and Total Trading Costs

Starter advertises variable spreads from 1.5 pips with no FX lot commission. Premium and Ultimate advertise raw spreads from 0.0 pips, with round-turn commissions of $8 and $5 per standard lot respectively. A quoted minimum spread is not a guaranteed spread during a trade; compare the applicable commission and spread together for your account and instrument.

Other Trading and Non-Trading Fees

Overnight positions can incur instrument- and account-specific swap charges, while inactivity can create a recurring cost for accounts left without trades. Orbex lists no broker deposit or withdrawal fee, though payment-provider charges are not established here.

Starter has the lowest entry threshold at $100 and uses variable spreads from 1.5 pips with no FX lot commission. Premium requires $500 and pairs raw spreads from 0.0 pips with an $8 round-turn commission per standard lot. Ultimate offers the same advertised raw-spread starting point and a lower $5 round-turn commission, but requires $25,000. The choice is therefore not simply between spread levels: the lower Ultimate commission comes with a substantially higher deposit commitment. All three account types support MT4 and MT5, with leverage up to 1:500 on eligible global offerings.

Platform choice is most relevant to traders bringing an existing automated setup: MT4 uses MQL4, while MT5 adds market depth and MQL5 tools. Automated trading and backtesting require the desktop terminal or a VPS; web and mobile versions support trading and monitoring but not bot execution. Orbex’s separate mobile app is for account management.

Desktop, Web and Trading Platforms

Orbex also lists API, copy and social trading. A free VPS is offered to accounts maintaining a balance of at least $500 and trading a minimum of three standard lots per month.

These markets provide price exposure through leveraged FX products or CFDs, not direct ownership of the underlying assets. A stock CFD does not make the trader a shareholder or confer voting rights, and a crypto CFD does not provide coins to hold in a wallet. Crypto CFD access depends on region and account type, and UK retail clients cannot trade these derivatives.

For execution, MT4 and MT5 support Expert Advisors, scripts, custom indicators and strategy backtesting; MT5 also has market depth. Orbex lists multiple order and execution types, copy and social trading, and API trading, but no execution-speed or slippage test results are established here; market volatility and stop orders can expose trades to slippage. Research materials include market research, trading ideas, an economic calendar, Market Buzz and technical analysis. Live courses and webinars sit alongside video lessons, eBooks, articles and a trading glossary, giving users both market-related material and structured educational formats.

Orbex requires identity verification (KYC). Account currencies include USD, EUR, GBP and PLN, and funding options include bank transfer, cards and e-wallets. Account and payment eligibility may depend on the client’s jurisdiction and contracting entity.

Account Opening and Identity Verification

Specific document requirements, application steps and approval times are Register in the broker portal, select the account and platform, and upload proof of identity and proof of address; account approval is subject to compliance checks, with no universal completion time guaranteed.

Deposit and Withdrawal Methods

Customer Support

Support is available 24/5 through live chat, email and phone, in English and Arabic. The listed contacts are [email protected] and +230 467 2000. Account-service contacts can also help with questions about webinars and training events.

The practical account choice is between Starter’s lower entry threshold and the raw-spread accounts’ per-lot commissions; the contracting entity is a separate consideration because protections differ. The profile table shows where those trade-offs matter most.

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For EU/EEA clients, the unresolved CySEC status may be the deciding constraint; confirm the contracting entity before weighing the account-pricing differences.