Orfinex is a foreign exchange broker founded in Mauritius, mainly providing investors with foreign exchange, metals, commodities, stocks, indices trading services, the company's official website only supports English as the language of use. In addition, the Orfinex account registration page is available in English, French, Spanish and Turkish.
Company background:
Orfinex and its affiliates, Orfinex Financing Broker Co, are incorporated in Mauritius and Dubai respectively, according to Orfinex's website. A search on the websites of the Mauritius Business and Business Registration Department (CBRD) and the Dubai Department of Economy and Tourism (DET) showed that the information that the company and its associated enterprise Orfinex Financing Broker Co were registered in Mauritius and Dubai was true. In addition, according to the domain name registration information of the website queried by Whois, the company's official website domain name was registered on October 12, 2020, and the domain name registration time has been more than 3 years ago.
Account Registration:
Orfinex official website provides investors with real account, demo account registration links. The way to register a real account is: Click "Open trading account" on the home page of Orfinex official website, select or fill in the Email and password as required, and verify the Email verification code to enter the registration page, and select or fill in the name, user name, telephone number, address, city, country and other information as required to complete the real account registration. The registration method for the demo account is: Click "Open trading account" on the home page of Orfinex official website, select or fill in the Email and password according to the requirements, and verify the Email verification code to enter the registration page, and select or fill in the name, user name, telephone number, address, city, country and other information according to the requirements to complete the mock account registration. In addition, the Orfinex account registration page is available in English, French, Spanish and Turkish.
Account Type:
According to Orfinex's official website, the company provides investors with three different types of trading accounts: Classic Account, Prime Account and ECN Account. In addition, the Orfinex website also provides the differences between these three trading accounts in terms of spread, commission, minimum deposit, margin (leverage) ratio, base currency, VPS fees, etc.
Trading Products:
According to Orfinex's official website, the company provides investors with foreign exchange, metals, commodities, stocks, indexes trading services. However, the official website of Orfinex only provides specific trading products covered by foreign exchange, metals, commodities, stocks and indices, as well as the minimum trading unit, maximum trading unit and overnight interest of specific trading products, and does not provide information on the commission and spread of specific trading products covered by foreign exchange, metals, commodities, stocks and indices.
Margin ratio:
Although the "Account Type" on the Orfinex website shows the maximum margin (leverage) ratio that can be achieved by different account types, the Orfinex website does not provide information on the margin (leverage) ratio of specific trading products covered by foreign exchange, metals, commodities, stocks and indices under different account types.
Trading Hours:
The Orfinex website does not provide information on the trading hours of specific trading products covered by Forex, metals, commodities, stocks and indices.
Deposits and Withdrawals:
Orfinex official website information shows that the company provides UnionPay, wire transfer, VISA, Mastercard, Perfect Money, Skrill, Netller and other methods and channels of deposit and withdrawal. In addition, the Orfinex website also provides different deposit and withdrawal methods and channels, supported deposit and withdrawal currencies, fees, time and minimum deposit and withdrawal amount information.
Trading Software:
According to Orfinex's website, the company offers investors MetaTrader5 (MT5) trading software. Orfinex's MT5 software supports tablet (Winodws/MacOS), Web and mobile (IOS/Android) versions. However, the Android version of MT5 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Other services:
According to the Orfinex website, the company provides investors with calculators, e-books, technical analysis, economic calendar, Autochartist, trading center and other services. Among them, the economic calendar can help investors understand the events that have happened or are about to happen in the financial markets, Autochartist can provide market analysis for investors at all levels, and the Trading Center provides multiple analysis tools for investors.
Regulatory information:
According to Orfinex, the company is regulated or authorized by the Mauritius Financial Services Commission (FSC) and the National Futures Association (NFA). However, the Mauritius Financial Services Commission (FSC) website does not find any regulatory or authorisation information relating to the company; The company is not a member of the National Futures Association (NFA) and is not regulated or authorized by the NFA, according to a search on the NFA website. In addition, the Dubai Financial Services Authority (DFSA) website did not find any regulatory or authorisation information for Orfinex Financing Broker Co, the company's affiliate.
Summary:
Orfinex is suspected of fraud. Although a search on the websites of the Mauritius Business and Business Registration Department (CBRD) and the Dubai Department of Economy and Tourism (DET) shows that the information that the company and its associated enterprise Orfinex Financing Broker Co are registered in Mauritius and Dubai is true. However, Orfinex's website indicates that it is regulated or authorized by the Mauritius Financial Services Commission (FSC) and the National Futures Association (NFA). The Mauritius Financial Services Commission (FSC) website does not contain any regulatory or authorisation information relating to the company; The company is not a member of the National Futures Association (NFA) and is not regulated or authorized by the NFA, according to a search on the NFA website. In addition, the Dubai Financial Services Authority (DFSA) website did not find any regulatory or authorisation information for Orfinex Financing Broker Co, the company's affiliate. Judging from this, Orfinex is suspected of fraud, and investors need to be careful about the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
