Orbex Review 2026

Orbex Review: the short version

Orbex is a forex and CFD broker with a simple, well-documented three-account structure and an unusual emphasis on education. Every account – including the $100 Starter – includes monthly webinars, Trading Central research, VPS access and permission to scalp and run Expert Advisors. The Premium and Ultimate tiers add one-to-one training sessions.

Pricing is published plainly: Starter has variable spreads with $0 commission; Premium quotes from 0.0 pips at $8; Ultimate quotes from 0.0 pips at $5 but requires $25,000.

The regulatory position is what has changed, and it is the reason for the score. Orbex today publishes a licence from the Mauritius Financial Services Commission (Orbex Global Limited) and a Saint Lucia registration (Orbex Limited, 2025-00714 IBC). The Cypriot authorisation the brand was known for does not appear on the site.

What is Orbex?

Orbex is an online broker offering forex and CFD trading on MetaTrader 4 and MetaTrader 5, with no-dealing-desk execution across all account types.

One correction worth making up front: AFM’s own navigation menu lists Orbex under “Stock Brokers”. That is not what Orbex is. Its accounts are described as Forex Trading Accounts, its Mauritius authorisation is an Investment Dealer licence, and its account currencies are USD, EUR, GBP and PLN. If you came here looking for a broker to buy shares through, Interactive Brokers, Saxo and Tiger Brokers are the relevant reviews.

What Orbex does well is structure. The account tiers are genuinely differentiated – not just by spread but by the amount of education and support attached – and the whole offering is documented on public pages rather than hidden behind a signup.

Orbex regulation: what is published today

Orbex’s current site names two companies:

• Orbex Global Limited – authorised and regulated by the Mauritius Financial Services Commission, registered at Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius. Orbex publishes its Investment Dealer Licence as a downloadable PDF.
• Orbex Limited – incorporated under the laws of Saint Lucia, registration number 2025-00714 IBC, registered office at Rodney Bay, Saint Lucia.

The site also notes that the Orbex brand is owned by Orbex Services Limited and operated by Orbex Global Limited.

What is not there matters as much as what is. Orbex was long associated with a Cyprus Securities and Exchange Commission licence, and much of the older commentary about the broker – including AFM’s previous review – rests on that. No CySEC authorisation appears on the current site. We are not asserting that it was withdrawn, because we did not check the CySEC register; we are reporting that the licence Orbex publishes today is Mauritian, and the second entity is a 2025 Saint Lucia registration.

Mauritius FSC is a real regulator. It is not a top-tier one, there is no investor compensation scheme behind it, and a Saint Lucia IBC registration is not a financial licence at all. If regulatory standing is a priority, IC Markets, Pepperstone and TMGM all lead with ASIC.

Orbex account types

Three live accounts, and the ladder is unusually explicit about what each tier buys.

Starter – $100 minimum, variable spreads, $0 commission, leverage to 1:500, monthly webinars and basic education.

Premium – $500 minimum, spreads from 0.0 pips, $8 commission, exclusive webinars, one one-to-one training session and advanced education.

Ultimate – $25,000 minimum, spreads from 0.0 pips, $5 commission, three one-to-one training sessions.

All three permit scalping and Expert Advisors, include Trading Central and VPS, use no-dealing-desk execution, allow a 0.01-lot minimum size, and carry a 100% margin call with a 20% stop-out.

One thing to check before funding: Orbex’s table gives commission as “$8” and “$5” without saying whether that is per side or per lot round turn. The difference doubles or halves your cost. Confirm it directly – a 0.0-pip spread means nothing until you know what sits on top of it.

Orbex spreads, fees and commissions

The headline structure is conventional: pay through the spread on the entry account, or take a raw spread and pay per lot on the higher tiers.

Where Orbex is competitive is the Ultimate tier – $5 commission on a 0.0-pip spread is good pricing if that figure is round turn. Where it is not competitive is the entry point. A $100 minimum for a variable-spread, no-commission account asks more than XM ($5), JustMarkets ($10) or RoboForex ($10), and Orbex does not publish a “from” figure for the Starter spread at all.

The $25,000 Ultimate threshold is also high for what it delivers – a $3 per-lot saving over Premium plus two extra training sessions. Most traders with $25,000 would be better served by an ASIC-regulated broker at $3.50 per side than by an unregulated-tier upgrade.

Platforms and education

Orbex runs on MetaTrader 4 and MetaTrader 5. There is no proprietary platform, no cTrader and no TradingView integration – which for a broker of this size is a reasonable choice rather than a gap.

The education is the genuinely distinctive part. Trading Central – a third-party research provider whose analysis normally sits behind a subscription or a large account – is included on every tier, as is VPS hosting for running Expert Advisors continuously. Webinars run monthly on Starter and become “exclusive” on the paid tiers, and Premium and Ultimate include scheduled one-to-one sessions.

For a trader who values structured learning alongside execution, that package is more generous than most brokers at this size offer. It is also, realistically, the main reason to choose Orbex over a cheaper or better-regulated competitor.

Who Orbex suits

Orbex makes sense if you want structured education and research bundled with the account rather than bought separately; you value Trading Central and VPS included at every tier; or you want a small broker with a clearly published, unambiguous account ladder.

Look elsewhere if you want a top-tier regulator; you want to fund in a Southeast Asian currency, since Orbex offers only USD, EUR, GBP and PLN; you are starting with under $100; or you came here expecting a stock broker, which Orbex is not.

How Orbex compares

Orbex is the smallest broker in AFM’s forex set and the one with the least regulatory weight behind it. Against TMGM, which also asks $100, TMGM’s group is ASIC-led and Orbex’s is not. Against JustMarkets, Orbex asks ten times the minimum and offers no local-currency accounts, but bundles far more education.

The honest summary is that Orbex competes on service rather than on price or regulation, and that is a legitimate but narrow proposition.

Conclusion: is Orbex worth it?

Orbex scores 6.8, the lowest of AFM’s forex picks. That is not a judgement on its conduct – it publishes its account terms clearly, permits scalping and EAs without restriction, and includes research and education that competitors charge for or reserve for large balances.

The score reflects position rather than behaviour. The published regulation is Mauritius FSC plus a Saint Lucia registration; the entry minimum is ten times what the regional competition asks; the account currencies do not include a single Southeast Asian one; and the commission basis is ambiguous on its own comparison table.

If the bundled education is what you want and you understand the regulatory position, Orbex is a reasonable small broker. For most readers of this site there are better-suited options in the same list.

1. Orbex account types, spreads and leverage — www.orbex.com/en/account-types (checked September 2026)
2. Orbex regulations — www.orbex.com/en/regulations (checked September 2026)