Orbex

Orbex broker is a brokerage that has been operating since 2010 and also targets Iranian traders with a Persian website, Persian support, and Rial and crypto deposits and withdrawals. In this overview, we review Orbex's licenses, accounts, payment methods and risks based on Teagle's data.

What kind of broker is Orbex?

According to Teagle's data, Orbex was founded in 2010 in Cyprus under the name AFB and its headquarters is in Limassol, although the broker's registered country in its Teagle profile is Mauritius. Its symbol range across all accounts includes 47 forex currency pairs, 14 commodities, 251 stocks, 11 indices and 10 cryptocurrencies, a variety the Teagle team considers limited compared with competitors. Its order execution model is described as no dealing desk (NDD), and the broker claims an execution speed of 0.03 seconds and no requotes. If you're not familiar with the differences between execution models, read the article What Are A-Book and B-Book Brokers .

Orbex broker licenses and credibility

Orbex previously operated under the supervision of Cyprus's CySEC, but according to Teagle's expert, it has recently and voluntarily exited this regulation. Based on Teagle's latest review, two active licenses are registered for this broker:

• FSA (Financial Services Authority), with active status;
• FSC (Financial Services Commission), with active status.

Both licenses are offshore and from a weak regulatory tier, and they do not provide protection on par with European regulators. Teagle's expert's conclusion is blunt: Orbex is now a high-risk offshore broker hiding behind its long track record. For a clearer understanding of this difference, see the guide Offshore vs Onshore Brokers and the article Retail, Professional and Eligible Counterparty Client Categories at Orbex .

Does Orbex serve Iranians?

Yes; Orbex serves Iranian users through a dedicated Persian website, and Persian support, Rial deposits and withdrawals, and free signals are also listed in Teagle's data. One Teagle user said the Persian section of the site leads to the main domain orbexforex.com. However, Teagle's expert points to the broker's dual approach: account types, costs and service levels differ structurally between the main domain and the Iranian domain, and information about commissions on Iranians' accounts is contradictory and vague. Before depositing, ask support about these points and read the client agreement in full.

Orbex trading accounts

Teagle's accounts table lists three accounts for Orbex, all with leverage up to 1:500, a 20% stop-out, an Islamic (swap-free) version and a no-requote policy:

• Turbo account: minimum deposit of $150, floating spread and commission from $0.
• Premium account: minimum deposit of $300, no commission and floating spread.
• Ultimate account: minimum deposit of $25,000, raw spread and a commission of $5 per lot.

The spread for all three accounts is listed in the table as "from 1.5 pips", which is odd for a raw spread account; before choosing an account, it's best to check the actual figure on a demo account or with support. The $20 monthly fee for inactive accounts is also a cost you shouldn't ignore.

Orbex platforms and services

Trading at Orbex is done on MetaTrader 4 and MetaTrader 5, and a Fix API connection is also available for algorithmic traders. The Market Scanner tool is another feature of this broker; we have explained the use of this type of tool in the article What Is a Market Scanner or Screener . Orbex's additional services include bonuses, PAMM accounts, a virtual private server (VPS), a trading API, education, an economic calendar and referral rewards. Trading Central analysis resources and negative balance protection for all clients are also among its strengths. Follow brokers' active bonuses on the Forex Broker Bonuses page .

Deposits and withdrawals at Orbex

In Teagle's data, Orbex's deposit and withdrawal methods are listed as Rial and crypto. For crypto transfers, a fee of $1.5 is listed for amounts above $50 on both deposits and withdrawals, but the minimum deposit and processing time for this method are not recorded. Ask support about the current status of Rial deposits, which one Teagle user has also asked about, before depositing.

Orbex's rating and risk on Teagle

Orbex's final score on Teagle is 3.7 out of 5, drawn from five sources: Teagle users 4, Trustpilot 3.8, Teagle expert 3.7, WikiFX 3.53 and Forex Peace Army 3.48. The Teagle Eye risk index for this broker is 38 out of 100, in the "low to medium risk" category; its 16-year track record and positive user reviews have kept it low, while its reliance on two offshore licenses has pushed it up. See the broker's weekly position in the broker rankings for Iranian deposits .

Pros and cons of Orbex broker

• Pro: operating since 2010 with no reports of systematic fraud
• Pro: Persian website and support, and Rial and crypto payments
• Pro: NDD execution, a no-requote policy and analysis tools such as Trading Central
• Con: voluntary exit from CySEC and reliance on two offshore licenses
• Con: differences in services and costs between the main domain and the Iranian domain, and vague commissions
• Con: $20 monthly fee for inactive accounts and a limited symbol range

Who is Orbex suitable for?

In Teagle's assessment, Orbex is worth considering for professional and experienced traders who value execution quality and analysis tools and knowingly accept the risk of dealing with an offshore entity. For beginners or those whose top priority is the legal security of their capital, more transparent options are more suitable. One Teagle user has also advised beginners to trade with small volumes and always with a stop loss . Before deciding, check the Orbex vs AMarkets comparison to weigh Orbex against an Iran-focused rival.

Conclusion

Orbex broker has a long track record, Persian services and good execution and analysis tools, but with its exit from CySEC its regulatory credibility has dropped to the level of offshore licenses, and the vagueness around the costs of Iranian accounts is serious. Start with a small amount of capital, get the commission structure from support in writing, make a test withdrawal and follow new warnings on the risk warning page .