Orbex

Orbex: A Forex Broker Under Fire – Scrutiny Intensifies in 2025

Orbex, a forex and CFD broker established in 2011, markets itself as a reliable partner for global traders, boasting low spreads, high leverage, and multi-asset access. Yet, amid its decade-plus tenure, a surge of customer grievances, regulatory shifts, and whispers of suppressed critiques paint a far less rosy picture. This analysis spotlights these red flags, drawing from trader testimonials and oversight records, to equip prospective clients with the facts and prompt watchdogs to probe deeper.

Dodging Oversight: The FCA Exit and Offshore Pivot

Orbex’s regulatory footprint has shrunk notably. In March 2022, the firm voluntarily canceled its authorization with the UK’s Financial Conduct Authority (FCA), a move that spared it from one of the world’s toughest supervisory regimes. While such cancellations can stem from business pivots, they often signal a bid for lighter touch in jurisdictions with laxer rules. Today, Orbex operates under the Financial Services Commission (FSC) of Mauritius and the Seychelles Financial Services Authority (FSA)—solid but offshore entities that lack the FCA’s investor safeguards. Critics argue this relocation eases compliance burdens, potentially at the expense of client protections, fueling speculation of strategic evasion.

Trader Tales: A Flood of Frustrations

Delving into forums like Trustpilot, Forex Peace Army, and WikiFX uncovers a chorus of discontent. Over 28 formal complaints logged on WikiFX alone highlight systemic woes, from execution glitches to support stonewalling. These aren’t outliers; they form a troubling mosaic of eroded trust.

Execution and Slippage Nightmares

Traders decry sluggish order fills and rampant slippage, crippling time-sensitive tactics like scalping. One user vented about “delays in order execution” that torpedoed strategies reliant on microseconds. Others allege “candle manipulation” and widened spreads during volatility, turning potential wins into losses.

Fees That Fleece: Hidden Costs Exposed

Orbex touts “zero company fees” on deposits and withdrawals, yet reality bites differently. Clients report surprise 3% charges per transaction—totaling 6% round-trip—blamed on processors but undisclosed upfront. A stark case: A $6,718.77 withdrawal request netted just $6,506, with the shortfall pinned on “card processor fees.” High commissions ($8/lot on premium accounts) and inactivity penalties (€20/month) further gnaw at margins.

Profits Vanish: Accusations of Abuse

The most alarming claims involve voided gains. A Portuguese trader saw substantial profits erased after Orbex deemed their success “abuse of the platform and its prices,” admitting to deliberate price delays—a blatant market manipulation red flag. Another lost €2,000 in earnings (and losses reset) post-“internal investigation” into their strategy, despite EAs and scalping being permitted. Such unilateral actions shatter confidence, echoing Ponzi-like tactics where wins are clawed back.

Support: Dismissive and Distant

When issues arise, help feels like a hurdle. Traders describe “unprofessional and disrespectful” reps who dodge queries on fees or disputes. Live chat and email responses lag, with some waiting weeks for resolution. Though praised in positives for 24/5 availability, the negatives dominate, branding support as “awful.”

Suppressing the Smoke: Efforts to Mute the Fire

Beyond operations, Orbex faces accusations of curbing backlash. Negative reviews mysteriously dwindle on search results, hinting at SEO scrubbing. Complaint escalations often hit dead ends, with no case IDs issued, stifling formal probes. On X (formerly Twitter), promotional posts from affiliates drown out user gripes, like stalled $7,000 withdrawals or “fake broker” rants.

Why It Echoes Today

In 2025, with forex scams proliferating, Orbex’s saga underscores the perils of offshore havens. While it snags awards for “transparency” and boasts MT4/MT5 platforms with 300+ assets, the complaints—spanning slippage, fees, and profit nullifications—tip the scales toward caution. Offshore regs like FSC and FSA offer less recourse than CySEC or FCA, leaving traders exposed.

Verdict: Tread with Extreme Care

Orbex’s blend of accolades and allegations demands scrutiny. Potential traders: Vet reviews exhaustively, test with small stakes, and prioritize brokers under top-tier oversight. Regulators: Time to audit these patterns and enforce accountability. In forex’s high-stakes arena, where opacity breeds ruin, Orbex’s track record screams for reform—not blind faith.