ANSWER Orbex24 is not a reliable broker for traders even though it states offers that look good to be true. Orbex24 claims to be an experienced forex broker based in the United Kingdom. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). However, we did not find any match results to Orbex24 in FCA.More importantly, the German regulator the Federal Financial Supervisory Authority (BaFin) issued a warning that Orbex24 has not been authorized to conduct banking business or provide financial services. You can check the full warning from here.The truth is, Orbex24 is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Orbex24 and trade with licensed brokers.
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