Worked example
Practising on Orbex's numbers
This is an exercise sheet, not a review. We are going to take three things that Orbex publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
Orbex does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. Orbex offers 4 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
- StarterThe entry rung. Whatever the published spread applies to, it is almost always this one — so this is the rung your arithmetic above describes.
- PremiumA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
- UltimateA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
- DemoA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
Account names as published: Starter, Premium, Ultimate, Demo. Platforms listed: MT4, MT5.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are Orbex's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| FSC Mauritius · Mauritius | Orbex Global Limited | not verified | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| FSA Seychelles · Seychelles | Orbex Limited | SD110 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| CySEC · Cyprus | ORBEX Ltd | 124/10 | a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme |
| None — St Vincent and the Grenadines company registration only (230 LLC 2019) · St Vincent and the Grenadines | Orbex LLC | not verified | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| None — Saint Lucia IBC registration only (2025-00714 IBC) · Saint Lucia | Orbex Limited (Saint Lucia) | not verified | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
No top-tier line appears on this file. That does not make the firm illegitimate, but it does mean the compensation-scheme and capital-rule protections a beginner usually assumes are present are not evidenced here. 4 lines are offshore registrations; treat those as a company address rather than as supervision. We could not confirm a licence number on 3 lines, which is exactly the kind of gap you should close yourself on the regulator's own register before depositing.
The record behind these numbers
- The CySEC register entry for ORBEX Ltd shows licence 124/10 marked as under examination for voluntary renunciation of the authorisation (checked 9 August 2026).
- Orbex Global Limited is stated on Orbex's regulation page to hold FSC Mauritius licence types FS-4.1 Global Business Corporation and SEC-2.1B Investment Dealer.
- Orbex Limited is registered in Seychelles under number 8429881-1 and holds FSA Securities Dealer licence SD110.
- Orbex's own site states Orbex.com is operated by Orbex LLC, registered in St Vincent and the Grenadines under number 230 LLC 2019; the SVG FSA does not supervise forex trading.
- Orbex's regulation page states negative balance protection applies to all account types.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: FSC Mauritius licence number; minDeposit, maxLeverage and spreadEurusd — only third-party figures found; segregatedFunds. Confidence in this file overall: medium. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
PipMentor does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.