orbex-fx.com
Anyone heard something about this broker or can to share own experience?
I just funded a live account with them. Everything seems a bit amateuristic. Demo has other swap than live account. It tells you to first register your Neteller account before you can withdraw to it but a register Neteller account button or anything like that is nowhere to be found. So you go to live chat again. Applied for a second account. Been told that first I need to fund my account. After it’s funded I have no clue if they have to add it manually? Fact is I had to inquire about it again.
Asked them about fees for withdrawing by wire transfer. It could be 20 to 50 euro but also 70 euro when it’s a big amount. How hard can it be to actually contact that intermediary bank… They simply refuse it and don’t answer the question. Neteller will provide me with free withdrawals I hope. Started using Neteller this week and that’s vague as well. Now telling me I can withdraw whatever I want but when reaading about it something like 180 euro per time with max 700 per month is free
When moving funds from one account to another you get the message that it’s being processed and you will get an email when it’s done. Money is moved quite fast (I guess 10 minutes) but the email never comes. At least not in the past few ours, so maybe tomorrow.
They instantly assign an account manager to you (they all do…) and she was quite unable to read and is replaced already. You simply get the next standard email about I am your account manager bla bla.
They have some very high positive swaps and that’s the reason I joined them.
short usdtry 55.2 according to forexchurch. When demoing it’s indeed that high. After opening a live account it’s only 18.0
When asking about it you get very short answers only: It has nothing to do with live because it’s demo. Uhrm… all demo’s I ever tried were the same as the live versions. Contacting live support is of very little use at all so in case you are not already quite experienced I would skip them.
After a few days of trading I notice that all limit orders are opened at exactly the price you gave in. I think this is impossible because sometimes the exact price isn’t there and you get a price that is a few pippets better. I’m not sure but it seems I am not trading the market but Orbex.
I have traded with quite some brokers and tested dozens of demos but I never saw this before.
I am a trader that makes profit and I’m a bit afraid about what to expect when those profits are going to be substantial. In case they actually lose when I gain they will probably kick me with a lame reason that makes no sense at all.
For now I will keep the deposits low and update this thread in case anything weird happens. Also when I can trade there without any problems.
My new ‘account manager’ already let me know by giving insane answers that he’s either new to forex or a complete idiot.
Universal Advanced
Minimum Deposit $50,000
Minimum Volume 0.1 lot
Leverage 1:100
Commission Zero
Spreads 0.9 Pips Fixed spread on Majors
On this type of the account I noticed good conditions. Somebody already works with this broker on this type of the account? Whether were problems during the work?
About Orbex:
[B]Operational [/B]Since: 2010
[B]Country where domiciled:[/B] Cyprus
[B]International offices:[/B] MENA (Middle East & North Africa) Rep. Office in Kuwait
[B]Regulation[/B]: Orbex is a fully licensed and regulated Cyprus Investment Firm (CIF) supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10 - View Certificate)).
[B]US Clients Accepted:[/B] NO