OrangeFX-Overview of Minimum Deposit, Leverage, Spreads

Note: For some unknown reason, we cannot open OrangeFXs official site (https://orangefx.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

OrangeFX, a trading name of OrangeFX Limited, is allegedly a forex and CFD broker registered in Vanuatu that claims to provide its clients with a variety of tradable financial instruments with flexible leverage up to 1:500 and variable spreads from 0.1 pips on the leading MetaTrader5 trading platform, as well as a choice of two different live account types.

As for regulation, it has been verified that OrangeFXs retail forex license has been revoked. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.90/10. Please be aware of the risk.

Negative Reviews

A trader shared his terrible trading experience in the OrangeFX platform at WikiFX. He said this platform scammed him. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

Market Instruments

OrangeFX advertises that it offers access to over 50 forex currency pairs, as well as CFDs on silver, gold and 20 indices.

Account Types

Apart from demo accounts, OrangeFX claims to offer two types of trading accounts, namely Standard and Professional. The minimum initial deposit amount to open a Standard account is only $10, while the other account type has a much higher minimum initial capital requirement of $10,000.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard account can enjoy the maximum leverage of 1:500, while the Professional account holders can experience leverage of 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

OrangeFX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account starts from 0.6 pips, while the Professional account holders can enjoy tighter spreads from 0.1 pips.

Trading Platform Available

The platform available for trading at OrangeFX is the worlds most widely-used MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Unluckily, we didnt find any information about the acceptable deposit and withdrawal methods. The minimum initial deposit requirement at OrangeFX is said to be only $10. One of the amazing agreements is that the broker wants you to agree that you will not be able to withdraw your deposit for at least 45 days.

Customer Support

OrangeFXs customer support can be reached by telephone: +6498897674, email: support@orangefx.com, support.cn@orangefx.com. Company address: Suite T19, 1st Floor, Tana Russet Plaza, Kumul Highway, Port Vila, Efate, Vanuatu.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.