When opening an account with Orbex, you need to know the minimum deposit amount for your account type. This can be anywhere from US$200 to US$25,000. There are three types of accounts for various investment strategies and requirements. Each one requires a different amount to open. You should also know that some accounts are commission-free.
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Orbex is regulated in Mauritius.
Orbex is a global forex broker regulated by CySec and the Mauritius Financial Services Commission. They have a long history of industry-leading service and have received over 15 international awards, including Best Forex Broker 2020 in the MENA and Europe region. They offer competitive trading conditions on MetaTrader 4 and various instruments, including currency trading, commodities, and stock CFDs. They also offer several account types, including a free Demo account and a zero-pip minimum deposit.
The company is based in Cyprus but has principal offices in Mauritius. The CEO, Abdullah Abbas, is an experienced investment professional with a background in asset management, risk management, and business strategy. The company has representatives throughout the MENA region, including Kuwait and Jordan. It offers clients access to high leverage and education to help them find the best trading opportunities. It is regulated in Mauritius but does not accept clients from OFAC-listed countries.
Orbex is a European broker, but clients outside of Europe should exercise caution when trading with Orbex. The company recently relocated its global headquarters to Cyprus, but affiliate offices are also in Kuwait and Jordan. Orbex does not regulate those jurisdictions, so caution is advised.
It offers three account types.
Orbex offers three account types, each with a different minimum deposit amount. There is a Starter account that can be opened with as little as $200, a Premium account that requires a $500 minimum deposit, and an Ultimate account that requires a $25,000 minimum deposit. Each account type offers different advantages and disadvantages, but all have one thing typical – competitive pricing. They also comply with KYC and AML requirements and use SSL encryption for data transmission.
There is no commission-free trading with the Standard Account, and the maximum trade size is 50 lots. There are three different account types, each with different fees, depending on the type of market. The Standard Account has lower spreads, while the Premium and Ultimate accounts have wider spreads. The Ultimate account also has a higher stop-out level of 20% and offers enhanced trading features.
The Ultimate account is designed for Orbex VIP clients and requires a minimum deposit of $25 000. The Ultimate account has a maximum leverage of 500:1, a stop-out level of 20%, and a $5 round turn commission per lot. It is also a good choice for active intraday traders. The spreads start at 0 pips and can get relatively high when liquidity is low. The Ultimate account also has a swap-free option. This feature means that the account does not charge interest on overnight positions. This allows traders who are Muslim to trade with minimal investment.
It charges commissions
Orbex is an online forex broker with a minimum deposit of just $100. This allows new traders to trade without incurring high commissions. Their website also offers a live chat support option and an email address for customer support. In addition, the customer service department provides support in multiple languages. The company also offers a callback service for customers. The company has an extensive customer support team and clearly explains its products and services. They also have a comprehensive help center on their website, including information on KYC verification, trading systems, MetaTrader 4, and more.
Orbex offers three types of trading accounts: basic, premium, and ultimate. The fees will vary depending on the type of account and trade you make. For example, the standard account has no commission fees, while the premium and ultimate accounts have zero or low commissions. Depending on your account type and trading volume, you may have to pay a minimum of $20 per month to maintain an account.
It offers a commission-free account.
Traders looking to invest in the currency markets can take advantage of Orbex’s commission-free account. This account can be used to open and close positions without having to pay the commissions associated with the premium accounts. Using this account requires a minimum deposit of EUR5,000. It comes with variable spreads as low as 0.8 pip and leverage as high as 1:500. This account also comes with a unique Islamic account, which does not charge interest.
The account opening process at Orbex is straightforward. Visit the broker’s main page and click the blue “Register” button. A new window will pop up where you can fill out your account details. Once you have completed your details, you will be given a code to enter into your account.
Traders can choose between the Starter and Premium account. For the latter, you can choose between fixed spreads and variable spreads. Both accounts come with commission-free trading and maximum leverage of 1:500. Traders can open a Swap-free account if they wish to be part of the Muslim community.