Orbit Global FX review – 5 things you should know about orbitglobalfx.com

Orbit Global FX review – 5 things you should know about orbitglobalfx.com

Rating: 1

Beware! Orbit Global FX is an offshore broker! Your investment may be at risk.

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Orbit Global FX offers a very colorful and unbecoming of a broker website, that feels more like a site for a game than an FX broker. This is the first red card that we noticed with this firm, and it definitely isn’t the last; from here on out everything spirals downward. As much as Orbit Global FX would have you thinking that it is legit, all the proof we found tells us the exact opposite, that the broker is yet another unlicensed entity that tries to trick users into investing.

The registration process itself was very easy to complete, but we were blocked and never got the chance to enter a user area. The reason for this was that our account was never verified, and we would not like it to be because Orbit Global FX demands copies of ID and other personal documents. We won’t be giving our details to a suspicious entity!

So, we have to rely on the website for all trading details. The promoted tradeable assets are forex currency pairs, metals, indices. Meanwhile, the leverage is said to go all the way up to 1:400. There was no spread revealed anywhere.

ORBIT GLOBAL FX REGULATION AND SAFETY OF FUNDS

The contact address of the broker allegedly places Orbit Global FX in the British Virgin Islands. Therefore, this would mean that the company is also regulated by the local FX license issuer, the British Virgin Islands Financial Services Commission; a simple registration claim won’t do. Not only is there no way to really confirm this, but a single registration means that the broker is unregulated. And as it turns out, the islands’ regulator does not oversee this broker as there is no proof of it, on either side.

Moreover, we noticed in the terms and conditions, the word “law” is used a lot, but never in any specific matter. No matter how many times one uses it, its ambiguity cannot be escaped. There is nothing too specific to point to a concrete jurisdiction. So, we have no need of further proof: Orbit Global FX is completely unlicensed and a risk to all! Investing here would be a loss of time and money.

If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the EuropeanUKUS, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!

ORBIT GLOBAL FX TRADING SOFTWARE

The broker advertises the MT5 on all fronts, meaning that is claims it to be available as a desktop trader and an mobile devices. However, the download links lead to the MT5 core software, and not to one owned and bought by Orbit Global FX. Therefore, the trading servers on this MT5 would not belong to the broker at hand, but are probably demo ones. Therefore, we can conclude that there is no real trading software here.

What kind of a broker is Orbit Global FX trying to be without including any software? From here on out we can stop calling this firm a broker, because it calls all the makings of one.

ORBIT GLOBAL FX DEPOSIT/WITHDRAW METHODS AND FEES

Orbit Global FX reveals only that the minimum deposit is at $50. Such a low deposit can lead to more deposits since it’s so low, and it’s precisely why the broker has adapted it.

There are no further details, most notably details about withdrawals. That’s a shame because we have no reason to believe that users will ever be able to withdrawal. There are no payment methods revealed, and no fees.

About the fees, payment ones may at times be absent, but we know for a fact that many scammer issue hidden ones, all of which are non refundable, and at times quite high. So here’s another reason why you should not invest here! Orbit Global FX is a scam and a risk to all!

HOW DOES THE SCAM WORK

Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.

The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.

Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.

The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.

Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.

WHAT TO DO IF SCAMMED

The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.

An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!

We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.

Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!

Top Forex Brokers

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US4.99/5$50 Click for a special offerWebsite
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Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

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