Orbit FX

Overview of Orbit FX

Orbit Global FX is allegedly a forex and CFD brokerage established in 2021 that claims to provide its clients with over 200 tradable financial instruments with leverage up to 1:400 and floating spreads from 0.1 pips on the MT5 trading platform, as well as a choice of four different live account types and 24/5 customer support service.

As for regulation, it is offshore regulated by MISA, which is worth considering by beginners.

Regulatory Status

Orbit FX is offshore regulated by the MISA(Mwali International Services Authority). This entity is an offshore regulatory authority. The license number of Orbit FX is T2023308.

Pros and Cons

OrbitFX has various notable strengths. They offer a wide variety of over 200 trading assets, a variety of account types, making it adaptable to different levels of traders, from beginners to experts. Additionally, they provide a demo account and copy trading.

However, OrbitFX also has a set of limitations. Their relatively high minimum deposit may be a barrier for low-budget traders. The payment methods they use are not clearly stated. Additionally, being offshore regulated presents its own set of risks and challenges.

Market Instruments

Orbit Global FX advertises that it offers access to more than 200 trading instruments in financial markets which include forex, metals, CFDs and indices.

Account Types

Apart from risk-free demo accounts, Orbit Global FX claims to offer three types of live trading accounts, namely Pro, ECN and VIP.

The PRO account is designed for individual traders, requiring a minimum deposit of $50. It provides a normal spread and charges a commission of 15. The trading platform available is MT5, offering over 100 different trading instruments.

The ECN account caters to fund managerss. For this account, a significantly higher minimum deposit of $5,000 is required. It features tight spreads and also uses MT5, providing access to more than 100 trading instruments.

Lastly, the VIP account is geared towards high-value traders – institutions. It requires a much larger minimum deposit of $20,000, with tight spreads and a lower commission rate of 10. The VIP account also uses the MT5 platform and offers all the same trading instruments as the other accounts.

Leverage

The leverage provided by Orbit Global FX is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Orbit Global FX claims that the spread starts from 0.1 pips.

For different account types, clients on the OrbitFX account have normal spreads and normal commission; the Pro account has less spreads and normal commission; the ECN account has tight spreads and competitive commission; the VIP account has tight spreads and very less commission.

However, users who intend to trade should be aware that they do not provide clear information on charges, but describe them very vaguely. If you want to trade, it is better to seek out those traders who display their fees very clearly to avoid being charged hidden fees.

Trading Platform

Platforms available for trading at Orbit Global FX are MT5 on Mobile (Android, iOS) and Desktop (Windows, mac OS).

In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Tools and Other Services

OrbitFX also offers a range of additional tools and resources for their clients, which include:

1. Economic Calendar: This live economic calendar helps traders keep track of all significant events and economic indicators that can affect the markets. This calendar provides a detailed description of each event as well as an analysis of its importance to global markets.

2. Copy Trading: This service allows clients to copy the trading strategies of successful traders, making it easier for beginners or those who do not have the time to study the market trends continuously.

3. Multiple Account Manager (MAM): OrbitFX offers a robust MAM Account that enables the management of over 50,000 trading accounts. This service provides accurate fund and trade allocation, instant profit distribution, and transparent data analysis – all elements that can positively influence a brokerage's financial health and reputation among partners and clients.

4. GMT Timezones: This tool assists clients trading in different international markets by providing real-time updates of global time zones.

5. Forex Calculator: The last tool OrbitFX offers as part of its services is a Forex calculator which traders can use to accurately calculate their potential profits or losses based on their trading strategy.

Deposit & Withdrawal

The minimum initial deposit requirement at Orbit Global FX is said to be only $50. However, the entry thresholds for the other two types of accounts suitable for professional or experienced traders are quite high.

Moreover, the broker says nothing about the acceptable deposit and withdrawal methods.

Customer Support

The contact information provided by OrbitFX is quite comprehensive and clear. They can be reached by telephone: +971 42220183, email: info@orbitglobalfx.com or send messages online to get in touch.

You can also follow this broker on social networks such as Twitter, Facebook, Instagram, LinkedIn, Telegram, Skype and WhatsApp.

FAQs

1. Q: How many types of accounts does OrbitFX offer？

   A: OrbitFX offers three types of accounts: PRO, ECN, and VIP.

2. Q: What is the minimum deposit for each type of account？

   A: The minimum deposit for the PRO account is 50.

3. Q: What additional tools and resources does OrbitFX provide？

   A: In addition to trading accounts, OrbitFX offers an Economic Calendar, Copy Trading, Multiple Account Manager (MAM), GMT Timezones, and a Forex Calculator.

4. Q: Does OrbitFX offer a demo account？

   A: Yes, OrbitFX offers a demo account where potential clients can practice and develop their trading strategies without financial risk.

5. Q: Where is OrbitFX regulated？

   A: OrbitFX is offshore regulated.

6. Q: What trading platform does OrbitFX use？

   A: OrbitFX uses the MT5 trading platform.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.