OrsFX

Overview of OrsFX

OrsFX, founded in 2022 and based in Australia, is an unregulated financial services company offering a range of market instruments including Forex, commodities, indices, stocks and crypto. They provide several account types, like standard, pro, raw, and zero accounts, with a minimum deposit requirement of $10.

OrsFX features leverage up to 1:500, competitive spreads starting from 0 pip to 1.3 pips, and maximum commissions of $0.6. The company operates on its proprietary ORSFX Trading Platform and offers a demo account for practice trading.

For customer support, OrsFX can be reached via email at support@orsfx.com or phone at +61 483 957 352. The company supports various deposit and withdrawal methods, including credit/debit cards, cryptocurrencies, Skrill, and Neteller, and also provides educational resources like online trading courses and videos.

Is OrsFX Markets Limited Legit or a Scam？

OrsFX, as of its founding in 2022, operates as an unregulated financial services provider. Being unregulated means that it does not hold a license from any financial regulatory authority.

This status is important for potential clients to consider, as it implies that the company is not subject to the stringent rules and oversight typically enforced by financial regulatory bodies.

Therefore, while OrsFX offers various trading services and platforms, the lack of regulation may present certain risks that are usually mitigated when dealing with a regulated entity.

Pros and Cons

Pros of OrsFX:

1. Various Market Instruments: OrsFX offers a wide range of trading options, including Forex, commodities, indices, stocks and crypto, offering various interests and strategies of traders.

2. Low Minimum Deposit: The minimum deposit requirement is just $10, making it accessible for beginners or those with limited capital to start trading.

3. Competitive Spreads and Commissions: With spreads starting from 0 pip to 1.3 pips and a maximum commission of $0.6, OrsFX offers cost-effective trading conditions.

4. Multiple Account Types: The availability of different account types like standard, pro, raw, and zero accounts allows traders to choose one that best fits their trading style and needs.

5. Educational Resources: The provision of online trading courses and videos can be beneficial, especially for novice traders looking to enhance their trading knowledge and skills.

Cons of OrsFX:

1. Unregulated: As an unregulated entity, OrsFX does not adhere to any financial regulatory authority's standards, which can be a significant risk factor for traders.

2. Potential for Limited Client Protection: The lack of regulation may mean less protection in terms of fund safety, dispute resolution, and fair trading practices.

3. Limited Geographical Reach: Being based in Australia and unregulated might limit its services in certain jurisdictions, potentially excluding interested traders from those areas.

4. New Market Player: Founded in 2022, OrsFX is relatively new in the market, which may raise concerns regarding its market experience and stability.

5. Lack of Proven Track Record: As a new company, OrsFX has yet to establish a long-standing reputation or track record, which can make it hard for traders to gauge its reliability and performance over time.

Market Instruments

ORSFX offers a huge range of market instruments for trading, offering various investment preferences and strategies:

1. Forex CFDs:

1. ORSFX provides Forex CFDs (Contracts for Difference) trading, allowing traders to speculate on the price movements of currency pairs like EUR/USD.

2. They offer tight spreads as low as 0.8 pips, ECN trading without hidden policies, and a leverage of up to 1:500.

3. Their platform supports over 64 currency pairs, enabling trading 24/5.

1. Commodities CFDs:

1. In addition to currencies, ORSFX offers Commodities CFDs trading, including energy, agricultural products, and metals.

2. Traders can speculate on the future price movements of these commodities or use them for hedging against inflation or currency fluctuations.

3. The commodities market also features tight spreads, over 22 commodities to trade, and up to 1:500 leverage.

1. Stocks CFDs:

1. ORSFX provides CFD trading on more than 1200 stocks, including those listed on NYSE and Nasdaq.

2. This type of trading allows for speculation on the price movements of stocks without owning the underlying shares, with ultra-speed execution and up to 1:100 leverage.

3. The platform enables trading 24/5, making a range of trading styles and strategies.

1. Indices CFDs:

1. ORSFX also offers trading in Indices CFDs, including major indices like US30 and US500.

2. They provide over 25 indices for trading, with a spread as low as 0.4 pips and up to 1:100 leverage.

3. Indices CFDs offer benefits like high liquidity, diversification, and lower fees compared to other financial instruments.

1. Cryptocurrency Trading:

1. ORSFX extends its trading services to digital currencies, offering the ability to trade popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).

2. They provide 7 days a week trading, up to 1:100 leverage, and a large number of cryptocurrency pairs.

3. This market is known for its high volatility, offering significant trading opportunities but also carrying increased risks.

Account Types

OrsFX offers four tailored account types:

1. Standard Account: With a minimum deposit of $10 and a 1.3 pip spread, the Standard Account is ideal for beginners. It offers leverage up to 500, no commission, fast STP execution, and allows hedging. The margin call is set at 40%.

2. Pro Account: Similar to the Standard Account, the Pro Account has a tighter 1.1 pip spread and the same $10 minimum deposit. It features no commission, fast execution, and hedging,attracting more experienced traders.

3. Raw Spread Account: Targeting frequent traders, this account offers a low 0.8 pip spread but requires a $100 minimum deposit. It retains the benefits of high leverage, no commission, and STP execution, suitable for active traders.

4. Zero Account: Designed for professionals, the Zero Account boasts a 0.0 pip spread with a $3000 minimum deposit and a $0.6 commission. It offers the same high leverage, fast execution, and hedging options, ideal for high-volume traders.

How to Open an Account？

Opening an account with OrsFX can be a straightforward process, typically involving the following four steps:

1. Choose an Account Type:

   Begin by selecting the account type that best suits your trading needs and style. Consider factors like the minimum deposit required, spread, commission, and leverage options. OrsFX offers different account types such as Standard, Pro, Raw Spread, and Zero.

2. Complete the Registration Form:

   Visit the OrsFX website and locate the account registration section. Fill out the registration form with your personal details, contact information, and any other required data. Ensure that all information provided is accurate and up-to-date.

3. Verify Your Identity:

   For compliance with financial regulations and to secure your account, you will need to verify your identity. This typically involves submitting copies of a government-issued ID (like a passport or drivers license) and a proof of address (such as a utility bill or bank statement).

4. Fund Your Account:

   Once your account is set up and your identity is verified, you can proceed to fund your account. Choose from the available funding methods like credit/debit card, bank transfer, or e-wallets.

Leverage

OrsFX offers a substantial leverage option of up to 1:500 across all its account types, including Standard, Pro, Raw Spread, and Zero accounts. This high leverage ratio enables traders to control a large position with a relatively small amount of capital, amplifying both potential profits and losses.

For instance, with 1:500 leverage, a trader can control a position worth $500,000 with just a $1,000 investment.

Spreads & Commissions

OrsFX offers a range of spreads and commission structures across its different account types, tailored to suit various trading styles and preferences:

1. Standard Account: This account features a spread starting from 1.3 pips and charges no commission. It's designed for traders who prefer a straightforward trading experience without the added complexity of commission fees.

2. Pro Account: The Pro Account offers a slightly lower spread starting from 1.1 pips, also without any commission. This account is ideal for more experienced traders seeking tighter spreads while still avoiding commission costs.

3. Raw Spread Account: Targeted towards active traders, the Raw Spread Account offers an even more competitive spread starting from 0.8 pips, with no commission charged. This account is suitable for those who trade frequently and are looking for low spread costs.

4. Zero Account: The Zero Account stands out with a 0.0 pip spread, offering the most competitive rates, particularly appealing to high-volume and professional traders. However, this account does charge a commission of $0.6, balancing the ultra-low spread with a nominal transaction cost.

Trading Platform

OrsFX offers the Sirix trading platform, renowned for its user-friendly interface and one-click execution, making it suitable for traders of all levels. The platform boasts an intuitive dashboard, advanced charting, and powerful trading tools for an enhanced trading experience.

Sirix is available across multiple devices, including Web, Desktop, and Mobile versions, ensuring a convenient trading experience even on-the-go.

Key features of the ORSFX Sirix platform include advanced charting with built-in indicators, social trading that allows interaction and copying trades from other traders, and a personalized interface.

The platform supports a variety of instruments like 64+ Forex pairs and 450+ stocks and shares, providing market depth and insights.

Additionally, it offers automated trading tools, technical analysis objects, and is compatible with both iOS and Android for mobile trading. This combination of features and accessibility makes ORSFX's trading platform a comprehensive choice for modern traders.

Deposit & Withdrawal

OrsFX provides a variety of flexible options for funding your account, all offering instant processing times and accepting multiple currencies including USD, EUR, GBP, and CAD. The available deposit methods are:

1. Credit & Debit Cards: This commonly used method allows for instant deposits.

2. Neteller: A popular e-wallet option, Neteller facilitates instant transactions.

3. Skrill: Another e-wallet choice, Skrill also provides instant deposit services.

4. Bitcoin: For those preferring cryptocurrencies, Bitcoin is accepted for instant deposits.

5. Tether (USDT TRC20): This form of Tether cryptocurrency, using the TRC20 protocol, is also a viable instant deposit option.

6. Tether (USDT ERC20): Alternatively, Tether using the ERC20 protocol is accepted.

7. BinancePay: A service by the Binance exchange, offering instant deposit capabilities.

The minimum deposit required to open an account with OrsFX is $10, making it accessible for a wide range of traders.

Customer Support

OrsFX offers comprehensive customer support options to address various inquiries and needs.

Clients can reach out to their general support team at +61 483 957 352 or directly through email for different purposes: general support (support@orsfx.com), partnerships (partnership@orsfx.com), and account verification (verification@orsfx.com).

Additionally, OrsFX provides a live chat feature for real-time assistance. The office, located at 07/1 Wilson Street, West End, QLD 4101, operates from Monday to Saturday (AEDT) 08:00 – 08:00, and Sunday to Friday (GMT) 22:00 – 22:00, ensuring wide-ranging availability for global clients.

This multi-channel support system highlights OrsFX's commitment to effective and responsive customer service.

Educational Resource

OrsFX offers a suite of educational resources aimed at enhancing the trading knowledge and skills of its clients. These resources include comprehensive online trading courses and a series of informative videos, covering a wide range of topics suitable for both beginners and more experienced traders.

These educational materials are designed to provide valuable insights into the forex and CFD markets, trading strategies, market analysis, and the use of trading tools.

By offering these resources, OrsFX demonstrates a commitment to supporting its clients' growth and success in the trading world, ensuring they have access to essential information and learning tools to make informed trading decisions.

Conclusion

In conclusion, OrsFX, an unregulated financial service provider based in Australia, offers a wild range of trading services and platforms tailored to various trader needs.

With competitive spreads and low commissions, multiple account options, and leverage up to 1:500, it attracts both novice and experienced traders. OrsFX supports a variety of instant deposit methods and provides robust customer support and educational resources.

While its unregulated status may raise certain considerations, OrsFX's comprehensive offerings and accessible trading conditions make it a noteworthy option in the online trading landscape.

FAQs

Q: What are the account types available at OrsFX？

A: OrsFX offers four account types: Standard, Pro, Raw Spread, and Zero, each varying in spreads, minimum deposits, and commission structures.

Q: What is the minimum deposit required to open an account with OrsFX？

A: The minimum deposit at OrsFX is $10 for Standard, Pro, and Raw Spread accounts, and $3000 for the Zero account.

Q: What deposit methods are available at OrsFX？

A: OrsFX accepts deposits via credit/debit cards, Neteller, Skrill, Bitcoin, Tether (USDT TRC20 and ERC20), and BinancePay.

Q: Does OrsFX offer educational resources for traders？

A: Yes, OrsFX provides online trading courses and videos to help traders improve their trading knowledge and skills.

Q: How can I contact OrsFX customer support？

A: OrsFX customer support can be contacted via phone at +61 483 957 352, email for various inquiries, and through their live chat feature on the website.

Q: What trading platform does OrsFX use？

A: OrsFX utilizes the Sirix trading platform, which is available on Web, Desktop, and Mobile. It features a user-friendly interface, one-click execution, advanced charting, and social trading capabilities.