Orbex offers its customers a choice of account types. They ensure that traders with different skill levels and portfolio sizes are getting the proper care. You can select between fixed or variable spreads. All account varieties offer a maximum leverage of 1: 500 and are without commissions (except trading copy accounts).
Established in 2010, ORBEX (formerly AFBFx) is a retail foreign broker offering many assets to trade on the most popular MetaTrader4 platform. This is the Orbex Ltd. brand. It is a Cypriot investment company. The Cyprus Securities and Exchange Commission authorizes and regulates it.
CySEC implements a specific set of requirements to license holders and adheres to established rules. For example, customer funds are available in separate accounts. Also, the Commission requires forex brokers to have at least EUR 1 000 000 as proof of financial stability.
As a further guarantee for customer funds, all companies under the regulation of CySEC are members of the Compensation Fund. This is especially for Investors who can pay compensation to their clients. They will have a cover by the warranty up to EUR 20,000 in the event of a broker's insolvency.
Moreover, CySEC regulates every fund of ORBEX. It is also compliant with MiFID. Therefore it entitled to offer cross-border services in the EU under the MiFID passport system.
The maximum leverage offered by Orbex is 1: 500, which is considered a relatively high rate.
Orbex customers can suit the following payment methods: credit/debit cards, bank payment, K-net Payment, and e-wallet payment gateways, such as Skrill, Neteller, WebMoney or FasaPay.