It is important to realize that this trading firm presents itself as Danish-based. We all know how strict Denmark is when it comes to following rules and guidelines. After all, it wouldn’t be one of the countries with the highest standards in the world.
Still, some brokers dare to ruin that status or at least try to. Luckily, this Orbonex review helps all traders recognize this scam on time and avoid all potential traps.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Orbonexcapital.com |
| Have Warnings from: | N/A |
| Registered in: | Denmark (allegedly) |
| Operating since: | 2024 |
| Trading Platforms: | MT5 allegedly |
| Maximum Leverage: | 1:50 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptocurrencies, stocks, commodities, indices, NFTs |
| Free Demo Account: | No |
| How do Withdraw from This Company? | Avoid this broker at all costs. In case you get scammed by them, reach out for a refund consultation as soon as possible! |
Legal info: Is Orbonex Legit or A Scam?
The company should be regulated by the Danish DFSA. Unfortunately, this register doesn’t have any records of Orbonex firm being licensed. This might be concerning since they present themselves as a company with security as the top priority.
We didn’t lose hope and tried checking top-tier regulators across Europe, such as FCA, BaFin, CONSOB, and similar. Thus, the results were similarly disappointing. Regardless of the company’s fake security encryption and cybersecurity, they don’t have any funds protection measures, such as negative balance protection or segregated accounts for deposits.
Who are Orbonex’s Victims?
In the absence of real Orbonex reviews, it’s hard to tell the true demographic of the company’s clients. Nevertheless, with the domain registered in February 2024, it’s reasonable that we can’t see many comments.
Anyway, the domain traffic shows us what countries are potential targets. Those are mainly:
Whatever your country is, we invite you to share your experience in our comments section. Also, if you were a victim of brokers like Merjes Group or InvestusPro. All these swindlers have the same goal. That’s to rip traders off. If that’s your destiny with them, contact our refund team as soon as possible for assistance.
Traders Reviews
So far, we can see comments about Orbonex broker only on one platform. Apparently, these are positive, similar to the ones presented on the company’s website. But it’s hard to believe anything like that, especially since the company is only a few months old.
That’s why we always encourage traders to share experiences anywhere they can. With a bigger number of comments, it’s easier to make a conclusion. In any case, if you experience any irregularity with this firm, reach out for detailed advice.
Leverage, Commissions, Spreads, Fees and Taxes
One of the leading problems, besides missing Orbonex Forex options, is non-transparent trading conditions. All fees, commissions, and spreads are completely hidden from the public. Sadly, registration with this broker requires a promo code, and we can’t get access to the platform to explore.
They most likely lure traders through fictive ad campaigns to get started, and promo codes are received through the fake referral program. At least the company offers something that complies with regulations. That’s leverage of up to 1:50.
Bonuses
Offering bonus funds is a standard tactic among scammers to prevent traders from withdrawing funds. Of course, Orbonex trading firm will also use the same trick. Before traders meet certain requirements, they can’t withdraw any funds. Sadly, those requirements are unknown.
Orbonex Trading Features
One of the offers that might be attractive to traders is the Orbonex AI trading features. Thus, scam brokers are highly expected to manipulate and provide fake results. Especially when you see the company offering AnyDesk and TeamViewer. These are usually signs that they will try to find where traders keep their funds and just rip them off.
Trading Platforms Available
Apparently, this trading firm offers highly reputable Meta Trader 5. Even though they provide download options, access to WebTrader is limited.
However, a highly suspicious registration process might also prevent traders from revealing the truth. In any case, if you register with them and see anything else but MT5, you know they are scamming you.
Available Trading Assets
Surprisingly, the company doesn’t offer Forex pairs as one of the most popular options for traders. Instead, you can trade:
- Commodities – gold, natural gas
- Stocks – IBM, AMD
- Cryptos – ETH, LTC
- Indices – ASX200, NASDAQ
- NFTs
Account Types
To be fair, all account types with this firm include some fictional benefits for traders. Those are expert support, full-protected trades, monthly market research, and education, just to name a few. Thus, for those they will require you to pay more and more money.
In any case, all options are:
- Starter – $250
- Bronze – $10.000
- Silver – $25.000
- Gold – $50.000
- Platinum – $100.000
- Black – Invitation only
Mobile Trading App
According to the company, mobile apps for iOS and Android are available. Thus, we realized that after missing regulations, they can’t be trusted for anything, especially when they advertise remote-controlling apps they use to steal money.
Demo Account
If the company offered a demo account, access to the MT5 platform would not be limited. But when it doesn’t offer one, it’s usually a sign that some details must be hidden.
Education
Besides blog posts and articles, the company also offers educational programs with analysts. But also, webinars and live sessions. Thus, without a license, can you truly trust those?
Orbonex Withdrawal
Another huge problem with this company is a lack of Orbonex withdrawal process transparency. They practically don’t reveal what methods traders can use, how long it takes, or how much it will cost.
This combination is the perfect soil for manipulation. Especially with their shady bonus policy. Therefore, you can consider withdrawals practically impossible.
Customer Support
As can be seen, the company provides us with phone numbers in the UK and Canada. But they don’t have Danish ones. In any case, the company promotes 24/5 support and in most cases over WhatsApp.
Key Information To Consider About Orbonex
As mentioned, the key issue with the Orbonex scam broker is a lack of regulations. Consequently, everything else becomes questionable. On top of that, the company has a shady withdrawal and bonus policy and a registration process. Not to mention they use AnyDesk and TeamViewer apps. Certainly not for something legit.
Therefore, if you get ripped off by this broker, don’t waste a bit of time. Get in touch with our experts and find out quickly how to recover your money. Most importantly, the first meeting is completely free. Book yours now.
FAQ Section
What is Orbonex?
Orbonex is a misleading trading firm that has been offering services since February 2024.
Is Orbonex Legit?
Definitely not. The company is not regulated in Denmark by DFSA or any other top-tier regulator in Europe.
How to Get Money Back From a Scam Broker?
Since payment methods are highly questionable and the company uses remote-controlling apps, you will certainly need refund assistance. For guidance, reach our refund specialists.
Source:
https%3A%2F%2Fscambrokersreviews.com%2Fcrypto-scams%2Forbonex-review%2F
