Thinking of getting into business with Orbi Trades? Here is what you must know about this broker. Carefully read this review to find out if orbitrades.com is the trading platform you will want to trade with.
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About Orbi Trades Broker
Orbi Trades is an offshore brokerage company with a lot of promises for traders. The broker’s location shows it is from SVG.
The broker claims to offer low spread, real time trading signals, investor management system and trading community.
There are different account types Orbi Trades offers. See below.
In spite the trading instruments Orbi Trades claims to offer, forex traders must know they are dealing with an unknown broker which does not have a regulation over its head.
To clarify, Saint-Vincent and the Grenadines, SVG, is known for not regulating or monitoring forex brokers which gives room for scam brokers.
orbitrades.com: Reasons to Avoid This Broker
Firstly, orbitrades.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit no financial authority recognizes this broker.
Secondly, we noticed orbitrades.com has a demo account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Orbi Trades does not specify what fee its charges on every withdrawal forex traders make.
Minimum Deposit
Orbi Trades minimum deposit from the account type shows $50.
As for the payment methods, the broker presents an unusual method which is via WhatsApp. However, you should not consider making any payment with this broker because it is a risk and a scam. So beware!
Orbi Trades Platform
InfyFX offers MT5 (Industry standard trading platform) which is revered for its automated trading features, as well as its user-friendly interface.
As for the leverage, it can get up to 1:500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Orbi Trades Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is orbitrades.com a Reliable Broker?
orbitrades.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.