Orbex is a global multi-asset broker. In the EEA region, Orbex has a CIF license from CySEC. The broker’s offshore business is conducted through entities registered with Mauritius and Seychelles’ financial regulators. These offshore entities acquire clients in European and Asian jurisdictions and the MENA region. Regulatory requirements are dealt with in a very flexible approach. We have placed Orbex on our Orange Compliance list.
Key Data
| Trading name | Orbex |
| Business activity | Multi-asset brokerage platform |
| Domains | www.orbex.com.cy www.orbex.com https://orbexforex.com https://my.iorbex.com https://assets.iorbex.com |
| Social media | LinkedIn, Facebook, Twitter, Instagram, YouTube |
| Legal entities | Orbex Global Limited, Mauritius Orbex Limited, Seychelles Orbex Limited, Cyprus Orbex LLC, SVG Orbex Services Limited ORBEX CAPITAL ADVISORES BROKERAGE CO, Kuweit |
| Contact data | +357 25 588 855 +44 2035198140 [email protected] |
| Jurisdiction | St. Vincent & The Grenadines |
| Authorization | CySEC for Orbex Ltd FSC Mauritius for Orbex Global Limited FSA Seychelles for Orbex Limited |
| Related individuals | Hasan Abbas Abdallah Fadel (LinkedIn) Hakam Thalij (LinkedIn) Jamal Fakhory (LinkedIn) Sama Arnous (LinkedIn) Stathis Mattheou (LinkedIn) Dora Christofi (LinkedIn) Nidal Thuminat (LinkedIn) |
| Leverage | up to 1:500 |
| Payment options | bank wire, credit/debit card e-wallets, crypto bank wire |
| Payment processors | First Abu Dhabi Bank JSC Verified Payments AL AHLI BANK OF KUWAIT (ABK) SBM Bank Perfect Money, Skrill, Neteller, Rapyd |
| Trustpilot | 3.8-star rating with a “Great” trust level |
| Warnings | CFTC, Banned by U.S. Court |
| Compliance rating | Orange |
Short Narrative
According to the website, Orbex.com is owned by Orbex Services Limited, Cyprus, and is operated by Orbex Global Limited, Mauritius. Another operating entity is Orbex LLC, a company incorporated in Saint Vincent & the Grenadines.
Orbex Limited and Orbex Services Limited, Cyprus-based entities, act as the scheme’s payment processors. The Orbex scheme also uses banks in Abu Dhabi, Kuwait, Mauritius, and the Seychelles to process customer deposits (download the bank wire instructions here).
The Similarweb statistics show that the website of the CySEC-regulated broker (www.orbex.com.cy) has hardly any visitors. On the other hand, the website of the Orbex offshore scheme has grown in recent months and recorded more than 311,000 hits between April and June 2023. Most of them come from countries in Asia and the MENA region. But also, hits from Europe are in the list of the top 10 countries.
Compliance Check
Orbex Global Limited is authorized and regulated by Mauritius Financial Services Commission (FSC), Orbex Limited is registered with the Seychelles Financial Services Authority (FSA). CySEC regulates the Cyprus-based Orbex Ltd with license number 124/10
In our compliance check on 15 July 2023, the following findings were made:
- The Client Agreement is concluded by the trader on the offshore platform with Orbex Global Ltd, registered in Mauritius.
- We could register with the Orbex offshore mutation as EEA residents without any problems, even though the broker does not have regulatory permission for these jurisdictions.
- We could be immediately activated by uploading meaningless KYC documents showing no proper KYC process.
- We could have made theoretically unlimited pre-KYC deposits via bank wire, Perfect Money, Skrill, Neteller, and crypto.
- The broker offers maximum leverage of 1:500, which is against the regulatory requirements of most Western countries.
Due to the U.S. court order, the lack of regulatory permission, the ability to conduct unlimited pre-KYC, and the high leverage not allowed in most jurisdictions, we have placed Orbex on our Black Compliance list.
Share Information
We recommend staying away from this unregulated offshore broker scheme. If you have any information about the scam operators or supporting partners, we would be happy if you share it with us.
