Orbid.org purports to be a transparent and successful brokerage firm operating in the United Kingdom. However, something is off about this business. It’s reminiscent of the FCF Markets scheme. We made that claim on solid grounds.
Do not get fooled by the enticing website with smooth transitions and alluring offers. This company offers an unregulated trading platform that automatically raises concerns about fraudulent activity. Read our full Orbid.org review to learn why.
| Regulated by: | Unregulated Scam Broker |
| Is This Company Safe? | No, the platform is unregulated |
| Known Websites: | orbid.org |
| Have Warnings from: | N/A |
| Registered in: | UK |
| Operating since: | 2023-06-22 |
| Trading Platforms: | Web |
| Maximum Leverage: | 1:66 |
| Minimum Deposit: | 300 EUR |
| Deposit Bonus: | Available but Undisclosed |
| Trading Assets: | Forex, Indices, Commodities, Stocks, ETFs, Bonds, Futures, Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money, contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Orbid.org Regulated?
Is the Orbid.org Forex broker registered as a legal entity? The answer is yes; the firm was incorporated in the UK on July 4, 2023. However, the country’s Financial Conduct Authority (FCA) has not approved this business.
The British watchdog never issued a license to this firm to provide trading services, meaning it operates unregulated. That’s a huge issue, especially considering how heavily regulated the UK is in terms of financial markets. Due to the lack of security, the funds you place on Orbid can vanish overnight, leaving you without compensation.
We thus recommend you stick to regulated firms operating under the supervision of reputable financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Such companies are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.
Who Are Orbid.org’s Targets?
According to WHOIS, the orbid.org website domain was created on June 22, 2023. Since then, the firm has been accepting traders from the following jurisdictions:
- Poland;
- Hungary;
- Slovakia;
- Czechia.
All four are EU member states, meaning their respective financial watchdogs implement joint European Securities and Markets Authority (ESMA) regulations. One fundamental rule stipulates that each market participant must obtain a MiFID passport to operate. This way, ESMA ensures digital con artists like Ixxen are not defrauding traders and investors.
Not only is Orbid.org unlicensed, but it also violates European regulations by offering bonuses and leverage higher than the legal cap for retail clients of 1:30.
Trader Reviews – Sharing Experiences
We’re having doubts about the Orbid.org reviews on trustpilot.com. Up to 73% of the comments are positive, while only 24% are pure complaints. There’s a great chance the former are incentivized in some way. The situation is a bit different on scamadviser.com, where there are fewer reviews but more negative ones.
“These scammers are abusing my number by spoofing it as a calling number and offering crypto business to people,”
one ScamAdviser user claims.
User feedback is crucial for discerning the right providers from the duplicitous ones. Before investing, you should always read what traders and investors think about a specific company or platform.
Which Trading Platform Is Available?
The Orbid.org trading platform is virtually unknown since the website does not reveal any relevant details. There is no Orbid.org app either.
Nevertheless, the one image provided shows a classic web trading interface. It looks like any other browser-based terminal: basic charts, graphs, and indicators, but no advanced tools. Add to that the broker’s unreliable nature, and you will have a problem. The platform may be rigged to steal users’ funds.
Therefore, opt for licensed providers offering reliable third-party software like the aforementioned MetaTrader 4, MetaTrader 5, or cTrader. MT platforms provide a wide range of advanced tools, including automated and algorithmic trading, superb charting, multiple timeframes, live market reports, expert advisers, branch optimization, and more.
Orbid.org Account Types
| Account Type (Brand) | Classical | Platinum | VIP |
| Minimum Deposit | 300 EUR | 1,500 EUR | 3,000 EUR |
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| Account Type (Corporate) | Classical | Platinum | VIP |
| Minimum Deposit | 150,000 EUR | 300,000 EUR | 600,000 EUR |
Trading Info – Leverage, Spreads, Commissions
In addition to the suspicious tiers from the table, the broker also offers a Professional and Orbid.org VIP account. Regardless, all accounts are overpriced, so don’t bother.
The maximum leverage traders can use is 1:66 for Forex, which is higher than the legal limit in force in Europe (1:30), as mentioned. High leverage can lead to excellent profits, but it’s extremely risky. If the market moves against you, the losses will be devastating.
According to the website, the fees vary from instrument to instrument; Forex trading incurs a 1.5% commission, gold 3%, and indices 2.5%.
Can Traders Use a Free Demo Account?
No, which is a red flag. Despite the website advertising it, the Orbid.org login page does not offer any such option. Without it, you cannot access the platform and practice with virtual funds, meaning you must invest real money straight away.
If you are a beginner, that would be unwise. As most brokers nowadays offer risk-free trading, we advise you to consider more reliable options.
Deposit and Withdrawal Process
The website did not disclose which payment options are available for making deposits and withdrawing funds. Judging by the negative reviews, withdrawal issues are likely on this platform. In that case, you can only explore refund options.
For MasterCard or Visa credit/debit card payments, you can request a chargeback at the issuing bank within 120 days to get a refund. To make a strong case, provide bank officials with ample evidence and relevant documents. On the other hand, reversing wire transfers is possible via a recall. You can request it at your bank, but keep in mind that wires are only reversible if the money has not yet been transferred, i.e., if the transaction is not complete.
Recovering stolen crypto is more challenging. It requires utilizing advanced software such as CipherTrace and professional assistance. Our team can help.
Key Facts To Consider About Orbid.org
Orbid.org is a UK-based broker offering several account types and multiple asset classes. The firm operates without authorization from the FCA—in other words, illegally. This scheme’s primary targets are Polish, Czech, Hungarian, and Slovakian traders.
We do not recommend trading on this platform due to its unregulated status. If you have lost money to the Orbid.org scam, you must seek our professional help to recover your funds! A chargeback is your best option.
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is Orbid.org?
A UK-based Forex brokerage firm. The platform, accessible via three account tiers, supports popular trading instruments.
Is Orbid.org Broker Legit?
No, this broker is not legit. The firm operates without the regulatory approval of the UK’s FCA watchdog.
How to Get Money Back From a Scam Broker?
Having Orbid.org withdrawal issues? Book a consultation with us and explain what’s happening. We can help you get your money out.
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