Forex FAQs

Who is OFB?

Orient Financial Brokers (OFB) was established in January, 1994 in Dubai, the financial and commercial hub of the Middle East. OFB is licensed and regulated by Central Bank of the UAE, to conduct brokerage in Foreign Exchange, Commodities and Money Markets. OFB offers 24 hours internet on-line trading service to deal in thousands of financial instruments such as Share CFDs, Stock Index CFDs, Foreign Exchange and Precious Metals. Our margin requirements and commissions are one of the lowest in the business.

How safe are my funds?

As per regulatory requirements of Central Bank of the UAE, OFB's licensing and regulatory body, client funds are received in the name and account of most reputed companies who in turn are regulated to conduct investment business in major jurisdiction(s). These companies deal with client funds as per the laws and regulatory requirements of these major jurisdictions.

Is OFB regulated?

OFB is licenced and regulated by "Central Bank of the UAE" to conduct brokerage in Foreign Exchange, Commodities and Money Markets.

Do I need to have any previous trading experience?

It is highly desirable that you have some trading experience. However, if you are unsure about your trading experience, please contact our Sales team.

How safe and efficient is trading with OFB over the internet?

OFB clients benefit from dealing through dedicated Internet server rather than the world wide web (www). This reduces the time taken to send and receive information from one computer to another. Clients also benefit from a highly sophisticated 128 bit encryption security system supplied by the US company RSA data systems, the world leader in security software. This ensures that your account cannot be accessed by other users of the internet. To activate your trading account you are required to choose a user name and password. These, in addition to a unique security key and signature generated on your computer, are used by the system to secure and authenticate your trading account.

What other services can I receive through internet dealing?

  • Free 24 hour financial news service.
  • Free Real time charting.
  • Multiple account dealing, ideal for fund managers and CTAs who wish to operate more than one account at a time.
  • 24 hour Foreign Exchange and precious metal dealing service.
  • 2 to 3 pip spreads in major currencies.
  • Daily market reports.
  • 24 hour stop loss and limit order placing and execution.

What is margin?

Margin is a cash deposit provided by clients as collateral to cover losses (if any) that may result from the clients trades. The Margin required from clients start from 1% for trading. For example, with $1,000 margin you can open a position of $ 100,000 margined at 1%, against another currency.

How much money do I need to open an account?

We accept an initial margin of $3,000 or equivalent. It is possible to trade with us using a bank guarantee as margin. The issuing Bank must be acceptable to us. Please contact our Sales team for further details.

How do I open an account?

Please contact us and we will send you the relevant account opening information by post/email or by fax.

Can I deal on the phone as well as the internet?

OFB clients can deal on the telephone if they wish. You can open a position on the Internet and close it on the telephone, or vice versa. You can call us any time on the telephone.

How long does it take to execute a deal via the internet?

Clients can expect the deals to be executed within seconds. Dealing on the Internet is generally quicker than dealing on the telephone.

How do I get my money out of my account?

Clients withdrawal requests are processed within 48 hours. OFB requires a fax or letter sent from the client stating the amount they wish to have transferred and their bank details, including account number and branch swift code. Please note that OFB & its principals will not make third party payments.

Can I send funds from a third party to my account?

Funds have to be transferred from the account holders account and not from third parties.

What hours is OFB open?

OFB's dealing room is open 24 hours from 9pm on Sunday to 9.00pm on Friday (London time).

Can I place limit and stop loss orders?

OFB's clients can place limit and stop loss orders at any time free of charge.

How can I check my deals for the day?

Clients can click on TRADING on their trading software and see a number of options. A client can then click on "Blotters" and "all orders" to see their position.

What commissions do you charge?

OFB's commission is one of the lowest in the business. Please refer to Margins and Commissions for more information.

What are the risks?

Please refer to the risk warning in the website or our Risk Disclosure Notice which is included with the account opening documentation.