What is Orfinex?
Registered in Saint Vincent and the Grenadines, Orfinex is an online forex broker offering a series of forex and CFD trading services through the advanced MT5 trading platform. With the Orfinex platform, investors have the flexibility to choose from five trading accounts.
Pros & Cons
Is Orfinex Safe or Scam?
Orfinex is regulated by FSCA, while the current status is exceeded.
Market Instruments
Orfinex offers a wide variety of trading instruments across different asset classes:
- Forex (Foreign Exchange):
Orfinex allows traders to trade in major currency pairs such as USD/EUR, USD/JPY, GBP/USD, etc. Traders can speculate on the exchange rate movements between different currencies.
Traders can trade in precious metals like gold and silver. This allows investors to take advantage of price fluctuations in these commodities.
Orfinex provides trading opportunities in oil. Traders can speculate on the price movements of crude oil, which is influenced by factors such as supply and demand dynamics, geopolitical events, and economic indicators.
Orfinex offers trading in various commodities such as coffee and cocoa. Traders can trade these commodities based on their market outlook.
Orfinex allows traders to trade in stock market indices, such as the S&P 500, Dow Jones, or Nasdaq. This enables investors to take positions on the overall performance of a basket of stocks representing a specific market or sector.
- CFDs (Contracts for Difference):
Orfinex offers CFD trading on various assets, including US, UK and EU Share CFDs. CFDs allow traders to speculate on price movements without owning the underlying asset.
Orfinex provides trading opportunities in individual stocks. Traders can invest in shares of publicly listed companies, taking advantage of stock price movements and potentially earning dividends.
Orfinex supports trading in cryptocurrencies like Bitcoin, BNB, LTC, SHB and SOL. Traders can speculate on the price movements of these digital currencies.
Accounts
Orfinex offers five types of trading accounts: Classic, Premium, ECN, Islamic and VIP Elite accounts. Each account has its own features and minimum deposit requirement:
- Classic Account: It requires a minimum deposit of $1. This account is suitable for beginners or traders who prefer lower initial investment amounts.
- Premium Account: The Premium account is designed for more experienced traders who are willing to invest a larger amount. It requires a minimum deposit of $1000.
- ECN Account: The ECN (Electronic Communication Network) account is tailored for professional traders or those who require direct market access with efficient execution. It demands a minimum deposit of $5,000.
The Islamic Trading Account provided by Orfinex Capital is designed for traders who adhere to Islamic principles that prohibit the earning or payment of interest (also known as riba).
Orfinex Capitals VIP Elite Account is specifically tailored to high-volume traders seeking an enhanced trading experience. This account offers several benefits that aim to provide an extra edge in the trading process.
Orfinex also provides demo accounts for traders who want to practice and familiarize themselves with the platform before trading with real funds. Demo accounts simulate real market conditions, allowing traders to execute trades using virtual funds.
Leverage
Orfinex offers a maximum leverage of 1:500 to its traders. Leverage is a powerful tool in trading that allows traders to control a larger position with a smaller amount of capital. With a leverage of 1:500, traders can potentially increase their trading positions by 500 times their initial investment.
Spreads & Commissions
The VIP account offers the lowest commission fees and spreads starting from 0.0 pips. The Classic account has a spread of 1 pip with no additional commission, while the Prime account has a tighter spread of 0.5 pips and a fixed commission of $2 per trade. The ECN account provides a competitive spread of 0.0 pips but charges a commission of $7 per lot traded.
Below is a comparison table about spreads and commissions charged by different brokers:
Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.
Trading Platforms
Orfinex provides its clients with the MetaTrader 5 (MT5) trading platform. MT5 is a popular and widely-used platform in the financial industry, offering advanced features and tools for efficient trading.
MT5 is known for its user-friendly interface, making it accessible to both beginner and experienced traders. The platform offers a range of technical analysis tools, charting capabilities, and customizable indicators, empowering traders to conduct in-depth market analysis and make informed trading decisions.
Besides, MT5 is available as a desktop application, but it also offers mobile and web-based versions. This provides flexibility for traders to access their accounts and trade from anywhere using their preferred devices.
Trading Tools & Educational Resources
Orfinex provides a range of trading tools to assist its users in making informed decisions and enhancing their trading experience.
Orfinex offers Auto Chartist, a user-friendly technical analysis tool. Auto Chartist helps traders identify potential trading opportunities by analyzing chart patterns and generating real-time trading signals.
Trading Central provides in-depth technical analysis, market commentary, and trading signals across various financialinstruments.
Orfinex simplifies remote client support through SVG Teamviewer. This tool allows users to receive personalized assistance from the Orfinex support team by securely sharing their screens.
Orfinex offers an Economic Calendar that provides information on important events and happenings that may impact the financial markets. Traders can stay updated with key economic indicators, corporate earnings, central bank meetings, and other significant events.
Orfinex supports Zulu Trade, a platform that simplifies social trading by allowing users to easily copy the trades of experienced traders. Zulu Trade offers a wide selection of signal providers and automated trading strategies.
Deposits & Withdrawals
Orfinex provides its clients with various options for depositing and withdrawing funds, including VISA (Credit card), Mastercard (Debit card), NETELLER, Skrill, bank transfer, China Union Pay, and Bank Wire.
小扬哥
Hong Kong
和荣松合作，进行诈骗，平台已经无法出金，荣松已经跑路
Exposure
2024-04-29
Eitc
Hong Kong
It cooperates with Rongsong Technology Forex to defraud. Chairman Louis XIII, together with several Malaysian international swindlers, Wayne, Danny, and Owen, committed fraud! Please give us an explanation.
Exposure
2024-04-27
刘永鸿~GFH7687
Hong Kong
Unable to withdraw money, please return my principal. Orfinex is a big scam company.
Exposure
2024-04-03
lhem
Philippines
kyc pending and does not care for clients concern.
Exposure
2024-03-28
纯境
Hong Kong
Hello, people in charge of orfinex! The platform you are cooperating with, Gaofeng Technology Company, which is based on the foreign exchange format and model, cannot withdraw money.
Exposure
2024-03-14
Rock2348
Philippines
we visited the Orfinex dubai office to verify and complaints against our strategy provider and to seek help to Orfinex broker since they are our registered broker but we are surprised that there is no physical office in dubai their businesses registration is also expired
Exposure
2024-02-24
Rock2348
Philippines
It has been almost three weeks since our strategy provider ceased communication with us. Despite our repeated attempts to reach them, they have not responded to any of our messages or inquiries. I am deeply concerned because trades continue to be executed on my account without proper risk management, putting my funds at risk. The strategy provider has been excessively exposing my account to large lot sizes, which are not appropriate considering the size of my equity. This behavior clearly indicates bad faith and a violation of our contract. As the sole owner of the trading account, I appeal to you as our last resort to intervene and halt the wrongful actions of our strategy provider. My primary objective is to safeguard my trading account from further harm. Therefore, I kindly request your support in disconnecting my account from the strategy provider and suspending all trading activities immediately.
Exposure
2024-02-09
asdg
Hong Kong
Unable to withdraw money, customer service is gone now, stay away from it.......
Exposure
2024-01-28
asdg
Hong Kong
Withdrawal process is very slow. The withdrawal application I requested hasn't processed yet.
Exposure
2024-01-15
Hamza Khan316
United Arab Emirates
Noman chaudhry is scammed $100,000 and he left pakistan after the scam. He gave fake gurantee cheques. Now he is trying to scam new people in Dubau
Exposure
2023-03-04
红浮
Hong Kong
Orfinex is a scam platform. Freely delete profitable orders from customer accounts. Refuse withdrawal requests.
Exposure
2022-07-13
Apr.Li
Tunisia
Using Orfinex has been quite straightforward due to their MT5 platform and the wide range of markets available. Starting with just $1 is a great plus, making it easy for anyone to give trading a try.
Positive
2024-06-04
FX1524779398
Nigeria
I still remember that chaotic morning - the early days of the pandemic and markets were at their most turbulent. I'm sitting there, logged in on Orfinex, coffee in hand, nervously ready to make my first trade. Their platform's quick response attracted me first. Perfectly timed trades even with a minor slippage of only around 0.05%, which was impressive in those choppy market conditions. One memorable detail was the EUR/USD spread of just 0.6 pips, which emphasized Orfinex's competitiveness. Navigating their platform was like a breeze. I recall dealing with a small technical glitch with a trade execution and their customer service was just a chat away. In no time, the issue was resolved - a commendable 10/10 for customer service responsiveness. Over the next few weeks, transaction over transaction, the withdrawal process was quick as a flash. Never did I have to wait for more than 24 hours for the funds to reflect in my bank account - no hidden charges, no frustrating delays.
Positive
2023-12-01
FX1524216419
Netherlands
I recall an instance when the Fed made an unexpected rate announcement that caused ripples in the market. Amidst this turbulence, the Orfinex platform sailed smoothly, providing accurate data in real-time and executing orders with minimal slippage. Cruising through the channels of spreads and commissions, Orfinex kept the journey smooth and fair. While trading the USD/EUR pair, the spreads mostly stayed within the comfortable range of 1.0-1.4 pips during peak trading hours. Their transparent commission policy was like a trusted captain - setting a clear course and steering straight without hidden turns.
Positive
2023-11-30
Andre Hodge
United Kingdom
I am very much satisfied with Orfinex. they are very good people specially their trading execution terms and very good. I realisied that they will be a local company but later i found out that they have very big team. They support me in many ways and specially guided also when my account got stuck in some verifications. Overall No Letancy and Slippage, and very less spread. Very much recommend broker from my side. Never faced any issues on withdrawal also.
Positive
2023-11-12
Cathy742
United States
Very straight forward trading conditions. I recently had the opportunity to interact with Orfinex and their customer support team, and I must say, I'm thoroughly impressed. Their dedication and supportive approach really stand out. It's clear they have a strong vision guiding their operations. So far, my experience has been seamless, especially when it comes to withdrawals. My first encounter with them was at the Forex Expo at the Dubai World Trade Center. It was there I realized how genuine and trustworthy they are among Forex brokers. I wholeheartedly recommend Orfinex to anyone looking to engage in the financial markets under realistic conditions.
Positive
2023-11-10
jacobz
United Arab Emirates
amazing customer support and great withdrawal, i am getting all my withdrawals regularly and support team is best. i am 100% satisfied with them
Positive
2023-01-14
李仁彬『燃』
United States
Good customer support! Thanks for always resolving my trading problems promptly and professionally. Your support team is doing a marvellous job. I salute your guys! Respect!
Positive
2022-12-13
海39858
Cyprus
Orfinex is a good broker, and I have been trading with its demo account for one month, satisfied with its trading conditions. Customer support team are also responsive to answer my questions.
Positive
2022-12-08