Brokers are not living up to promises is the biggest drawback or wrath a trader can face. On the top, these brokerage firms do not apologise for the mistakes or errors committed by them. It adds salt to the wounds of investors. Such tactics do not go well with clients, and they chuck to move on to the better option. Orbex review 2021 explains it why.
Orbex Review 2021: Does not mention registration details
When you visit the official website, the broker claims about having a license, registration and regulation. However, it fails to deliver the proof validating the same. Hence, it raises the doubt whether it is even genuine or not. Lip service does not translate into reality or truth. If someone is offering a service, then it must present the proper documentation.
Thus, one can assume that the Orbex broker is a liar, and its working process is delivering to ghosts and not real people. It shies away from mentioning the firm’s name, which is taking care of the brokerage firm’s regulation and activities.
How does one pay faith in it? The doubt deepens when only talks and refrain from displaying the name of its accomplice. Furthermore, Orbex mentions that it can act as a foreign exchange broker with full compliance. But yet again, there is no paper or documentation to support such tall claims. It creates a crater of disbelief and breaks the hearts of investors.
Its office is in Mauritius, which is not renowned for its transactions but tourism. So, it is evident that a broker would think several times before associating with the broker.
Orbex Scam or Safe?
When you do not see the license number properly or registration number, how are you supposed to feel? One may feel cheated and deceived with the amount of energy and time offered to a pet plan or project for gains. The money you invest does not reap the rewards, and your calculations and aspirations go for a toss.
Hence, you can say that Orbex seems like a scam broker because it hides crucial information then revealing it. One does not see an effort of transparency by the broker. Also, it does not even try to offer an explanation of why certain information is not revealed or kept in secret from clients.
As per the website, it has been offering the trading services for the last ten years online but lacks clarity on specific topics, which needs redressal.
Website lacks compatibility
In the digital era, a website is the virtual address of any business firm or a company. So, it should be presentable for the maintenance level to reflect upon the brand. However, Orbex does not have any qualms looking bad. The official website lacks decency and gives an idea of an imposter.
When you see it closely, you will find that all-important information is missing from it, and the website mentions irrelevant knowledge with the market participants.
So, how do you believe someone that does not give you the first impression relevant? The trust gets broken before it builds. The overall look of the website is dated and dilapidated.
Dusted in such a resemblance to the faux broker is not worthy of anyone’s attention, let alone the investment.
It is taking the faith of people for granted by not inducting MetaTrader5 even after spending more than ten years in the field of trading. Updating and up-gradation gradually are important to become better and comply with the norms of the financial market. However, Orbex does not seem to be making any effort toward it.
And clients start to look for other options when their brokers lack the empathy of offering the best services. How else would an investor grow? The broker has its shares of commission, charges and costs for earnings, but what is it providing in return to a loyal customer? No update.
Gradually, with time, if a trader remains stuck with such a brokerage firm, then the future is gloomy. Hence, the smart ones take refuge under top brokers. They offer immense learning and exhibit will to add the latest features as the phase passes.
You know that MT5 is one of the finest platforms that you can see anywhere. It fills all voids and loopholes left behind by its predecessor MetaTrader4. The inclusion will only help the trader to grab better opportunities. It’s not that people would not find these chances if Orbex does not offer them the opportunity.
They will simply switch over to a qualified broker that respects the sentiments and projects an effective trading environment prone to success and forward-looking.
On the one hand, Orbex mentions that it is getting regulated by Mauritius Financial Services Commission, but on the other takes a 180-degree turn and says that the company does not offer its services in the country. That’s it. The proof deflates the broker and exposes it a big time. So, guys beware of its dirty tricks and do not fall prey to its deals. They are a mirage.
There is no truth to what Orbex says. However, you know what to do. Look for better options. Do not fall for tall claims that deliver nothing. A contradiction is not the last thing that a ten-year-old broker should resort to. It is okay not to provide services in some countries, but why lie about certain things? There are lives and earnings of several years involved, and if a broker does not respect that, people should deboard that platform immediately.
If Orbex is keeping the residents of Mauritius away from trading, then how is it helping the cause of bringing the world together? It’s a fault that the broker must work on, else people should boycott the idea of letting the potential traders being avoided, it can be you next, who cares.
The minimum investment is high
When many brokers try to impress traders with exquisite offers and deals, Orbex has kept the bar of minimum deposit to the US dollars 200. How will a novice trader pay that much as a deposit? The broker does not seem to be thinking that way. It is looking to pocket more bucks from rich people. The approach of capitalism should not be detested, but why at the cost of the less privileged?
What type of message is Orbex offering people? That all it cares is how much can you pay for its place and then trade? It should not be this way around. A broker must offer equal opportunities to every trader and weave them in a thread of equality. That is how you let people from every stratum grow and shine.
So, it would be wise if the broker can lessen it from USD 200 and allow investors with lesser funds in their hands to deposit.
Orbex review 2021:Types of account
The types of accounts also fail to impress people. Starter, Premium and Ultimate have too high minimum deposits. When USD 200 is not enough in the Starter account, the Premium account asks for USD 5000, I mean seriously? How would one begin to trade with it? Such conditions lower down the confidence and interest of several traders.
And do not dare to stare at the Ultimate account, it asks for USD 25,000 as initial minimum deposits. Is that a joke? It does not look like Orbex is interested in offering anyone a fair or enough chance to surge their bank balance.
Who else would think of suggesting twenty-five grand for deposits? It seems like looting, right? The intention of the broker can be questioned. Moreover, if you think that’s not enough, then wait. If you are opting for the Premium account, then you’ll have to pay USD 5 as commission per transaction.
And if the idea is to choose the Ultimate account, then get ready to shell out USD 8 as commissions for every trade you conduct on the broker. So, get ready only to pay and not earn.
Did you think what you got in the hand after all complying to the broker’s demand, paying so much deposit and commission? Losses in hands. Orbex is too greedy a broker that cares about how to make money by fooling brokers and give them nothing in return.
Warning of the risk
When you scroll down the website, which categorically mentions the risks involved and how Orbex won’t be responsible if you lose the money, it is enough to put a trader off. Trading with the broker is not suitable for brokers. It claims that a trader may lose a considerable amount of funds while trading in the financial market.
So, it is scaring out the traders. Then why in the first place it is catering to the service of a broker?
If you are mindful, then selecting Orbex won’t be there on your cards anymore. There are plenty of contradictions, lies, deceitful attitude and cheating that one can clearly observe by looking at the broker. The broker does not comply with transparency and looks to hide its ill fantasies, which may harm brokers. Also, Orbex is too greedy a broker. You can instead choose 1o1investing, ROinvesting, InvestLite, Global Trade ATF and ETFinance as some of the best brokers
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