Orbicapital.com hides behind great promises and a good trading platform. However, beneath all that, they’re just an offshore broker. Read this OrbiCapital broker review to understand why you should avoid this broker.
Forex trading is an increasingly lucrative modern market. And as such, it is subject to modern problems such as online scammers and illicit broker websites. So in order to keep traders from them, we have made it our duty to review forex broker websites, then help you tell which one is legit and which one’s not. This review tells you all you need to know about OrbiCapital Broker.
About OrbiCapital Broker
OrbiCapital is the trade name of Orbicapital Ltd., a brokerage company located in St. Vincent and the Grenadines. They claim to be legalised by the SVG Financial Servics Authority to trade in forex CFDs. Orbicapital.com also claims somewhere at the footer of the site, to be located and registered in England, by the Financial Conduct Authority.
The two claims above were able to draw our attention to look further. What we found did not impress at all.
Orbicapital.com: Reasons to Stay Away
Your fund won’t be safe if you trade with orbicapital and here’s why;
OrbiCapital Withdrawal and Deposit
When it comes to minimum deposit amount, Orbicapital is impressive. They stick to the $100 for wire transfers, and $10 for every other method. This almost makes it seem like they’re trying to convince you to use other methods.
The payment methods orbicapital.com accepts include; debit/credit cards, NeTeller, wire transfer, bitcoin and etherum. The last two methods are cryptocurrencies, payment methods only used by scam brokers. Crypto transactions are untraceable, hence you cannot request for cashback in case of fraud.
The terms and conditions section of orbicapital is incredibly short, and does not reveal any form of useful info. There’s no withdrawal fee, dormancy fee or anything else that’s important to forex brokers. This is a very important part of brokers that only scam brokers can take for granted.
Orbicapital Trading Platform
Orbicapital.com had to have one positive thing to it’s name; it uses the Metatrader 5 trading platform, the best in the business. There is no legit broker out there that doesn’t support the MT5 or their predecessor, the MT4. These two platforms support a lot of features you hardly find anywhere including the use of forex robots and expert advisors.
Orbicapital offers demo accounts, and from there we discover that their maximum leverage is 1:500. This is a worrisome number, for a company that claims to located in the UK. For a long time, the FCA has set their maximum allowable leverage at 1:30 in the UK.
OrbiCapital Licensing and Regulation
Orbicapital.com claims to be registered in the UK and SVG. However, we do not think this claim holds water, here’s why
St. Vincent and the Grendadines is an offshore zone. The SVGFSA has already publicly warned that they do not give licenses to forex traders. Since then, this country has become a breeding ground for scam brokers. They can be registered as a company there, but never as a broker.
On the other hand, the FCA, the UK regulatory body, is one of the most reputable in the industry. There’s no way they would license any broker with so many question marks. For the sake of it though, we checked the FCA records and didn’t find Orbicapital Ltd. How sad!
Conclusion: Is Orbicapital.com a Legit Broker?
Sadly, no! Orbicapital is an unlicensed broker, the MT5 platform it provides won’t change that. Hence, any funds you deposit with them is at maximum risk. We cannot recommend this broker to you, and we advise you deal with a transparent broker who’s licensed by a reputable agency.
If however, there’s something else you wish say about this broker, do mention it in the comments section.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!