Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

Orbex vs WM Markets

Orbex is licensed by FSC Mauritius in Mauritius (international clients), and also has an offshore registration. WM Markets has no licence we could confirm on a regulator's register. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $100 at Orbex and $50 at WM Markets. Both offer negative balance protection and segregated client money.

Facts last checked: Orbex on 20 October 2026, WM Markets on 20 October 2026.

Orbex profileWM Markets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
OrbexRegulatedRead the profile
WM MarketsRead the profile
Comparing
OrbexMauritius (international clients)
WM Markets

Overview

Founded
2011
Not yet checked
Headquarters
Ebène, Mauritius
Fomboni, Mwali (Comoros)
Official websites
  • orbex.com
  • wmmarkets.com
  • en.wmmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Orbex Global Ltd
No licence listed
Regulator
FSC Mauritius
Mauritius (international clients)
No licence listed
Regulation level
Regulated
No licence listed
Licence number
C118023330 (SEC-2.1B Investment Dealer)
Check the register
No licence listed
Clients this company serves
International clients; Orbex's trading terms name Orbex Global Limited as the counterparty
No licence listed
All licences held
  • FSC Mauritius (Mauritius (international clients))
  • FSA Seychelles (Seychelles (international clients))
None listed
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
None
None

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
Up to 1:500 (1:30 by default when the account is opened)
Up to 1:2000 (dynamic, set per instrument)
Retail leverage by asset class
  • All CFDs, up to 19.99 lots open: Up to 1:500
  • All CFDs, 20 to 39.99 lots open: 1:300
  • All CFDs, 40 lots or more open: 1:100
Not yet checked
Margin call level
100%
100%
Stop-out level
20%
20%

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • MT4 and MT5 web terminals
  • Orbex mobile app
  • FIX API
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
Markets
400+ CFDs on forex, stocks, metals, indices, energies and futures
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Demo account
Yes
Yes
Copy trading
Yes
Yes
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Yes
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Perfect Money
  • UnionPay
  • Bank wire
  • Local payment methods
Not yet checked
Withdrawal fee
0% from Orbex on cards and e-wallets listed on its funding page
Not published; the agreement allows transfer-related and termination fees
Inactivity fee
Not yet checked
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)

Support

Customer support
24/5 live chat, email and phone, plus call-back requests
24/5 multilingual support by live chat

Our notes

Strengths
  • Orbex Global Ltd is on the FSC Mauritius register as an investment dealer (SEC-2.1B), licensed since 7 January 2019
  • Says client money is held separately from company money and offers negative balance protection on all accounts
  • Commission-free Starter account from $100, and raw-spread accounts with a published per-lot commission
  • MetaTrader 4 and 5, a FIX API and PAMM accounts
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
Watch out for
  • Its CySEC licence (124/10, ORBEX Ltd) is shown on the CySEC register as under examination for voluntary renunciation, so new clients are not covered by EU rules or the Cyprus compensation fund, even though the website still mentions the ICF
  • The website names several operating companies (Orbex Global Ltd in Mauritius, Orbex Limited in Seychelles, an Orbex Limited registered in Saint Lucia and Orbex LLC in St Vincent); check which one is named in your agreement
  • Leverage up to 1:500, far above the 1:30 cap that applies in the UK and EU
  • The spreads it publishes are minimums ("as low as"); typical spreads are not published
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Orbex: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel