Orbix

Important Note: Satang changed to Orbix. We previously received some concerns about this crypto exchange, so we recommend conducting thorough research before considering this company for your needs.

AspectDetails
broker popularity emerging popularity gaining attraction broker
Leverage1:1
Minimum Deposit$1
Year Established2017
RegulationRegulated digital asset exchange in Thailand
Payment methodsBank Transfer, Credit Card, Debit Card, Crypto Transfer
Publicly Traded
Employees<25
Type of BrokerCrypto
MT4
MT5
Trading AssetsCryptocurrencies and fiats (deposits only)
Demo Account
Islamic Account
CopyTrading
Signals
Deposit Fee
Withdrawal Fee
Rating★ 1,3
Offers Official Website

Alternative Brokers

Pros and Cons

Pros
  • User-Friendly Interface: IQ Option’s platform is intuitive, making it easy for beginners to navigate.
  • Diverse Asset Selection: It offers a wide range of assets, including Forex, stocks, cryptocurrencies, and commodities.
  • Low Minimum Deposit: Traders can start with just $10, making it accessible to everyone.
  • Advanced Tools: The platform provides advanced technical analysis tools for informed trading decisions.
  • Flexible Platforms: IQ Option is accessible on Desktop, Web, and Mobile devices, ensuring convenience.
  • Educational Resources: It offers educational materials, including webinars and tutorials, for skill enhancement.
  • Active Community: A vibrant community allows traders to share insights and learn from others.
  • Variety in Cryptocurrencies: There is a wide variety of cryptocurrencies available for trading, catering to diverse interests.
  • Demo Account: Users can practice with a free demo account before investing real money.
  • Regulation: IQ Option is regulated, providing a sense of security and trust for traders.
  • Diverse Asset Offerings: Orbix provides a range of trading options beyond cryptocurrencies, including stocks, ETFs, and commodities.
  • Experienced Leadership: The CEO, with a notable background in creating cryptocurrencies like ZCoin and Vertcoin, instills confidence in the platform’s leadership.
  • Flat Fee Structure: The flat fee model simplifies cost calculations for users, ensuring transparency in trading fees.
  • Trading Fee Discounts: Active traders can benefit from fee discounts based on their trading volume over the preceding 30 days.
  • Competitive Withdrawal Fees: The withdrawal fee of 0.0005 BTC per BTC withdrawal is below the industry average, offering cost-effective withdrawal options.
  • Web Traffic and Visibility: Its website attracts substantial organic monthly visits, reflecting its visibility in the cryptocurrency exchange landscape.
Cons
  • Low Liquidity: The platform faces liquidity challenges, as indicated by the relatively low 24-hour trading volume. Users should be cautious about potential thinness in the order book.
  • Limited Deposit Methods: While it supports wire transfers for deposits, the absence of credit card deposits may inconvenience users who prefer this payment method.
  • US Investor Considerations: While not explicitly prohibited, US investors should conduct thorough due diligence to understand any regulatory implications based on their citizenship or residency.
  • Limited Trading View Information: The trading view information is not detailed extensively in the available data, requiring users to explore the platform for a more in-depth understanding.
  • Overall Rating Position: Orbix holds a middle-ground position in the overall rating (104 out of 294), indicating room for improvement in certain aspects such as popularity and liquidity.

Introduction

Orbix, formerly Satang or TDAX (Thai Digital Asset Exchange Company Limited), holds a distinguished position as a Thai cryptocurrency exchange that commenced operations in November 2017.

The platform was developed with the mission to cater to the evolving trading needs of both professional and retail markets.

Emphasizing security, speed, and transparency, this crypto exchange positions itself uniquely in the Thai market, addressing perceived gaps in these critical aspects.

It’s noteworthy that the CEO is a seasoned professional credited with the creation of notable cryptocurrencies such as ZCoin (XZC), Vertcoin (VTC), and Satan, a popular Bitcoin Social Wallet in Thailand.

US-Investors

While the official stance of Orbix does not explicitly prohibit US investors from participating in trading activities, it is imperative for potential users from the United States to conduct thorough due diligence.

Evaluating any regulatory implications based on citizenship or residency becomes crucial for US investors considering engagement with the platform.

Liquidity

One notable aspect that users should be cognizant of is the liquidity challenge faced by Satang.

As of December 2, 2021, the 24-hour trading volume stood at USD 3.3 million, as per CoinMarketCap data.

This data points towards the potential thinness of the order book, and prospective users should exercise caution and awareness before creating an account.

Trading View

The Trading View offered by Orbix is designed to provide users with comprehensive insights into market dynamics.

Including elements such as the order book, price chart, and order history, the trading view aims to facilitate informed decision-making for traders.

The user-friendly interface is a key highlight, contributing to a seamless and intuitive trading experience on the platform.

Trading Fees

Orbix adopts a flat fee model for trading, with a standard trading fee set at 0.20%, aligning with industry averages.

The fee structure applies uniformly to both makers and takers, simplifying the cost calculation for users.

Additionally, the platform extends trading fee discounts based on the trading volume over the preceding 30 days.

This incentive structure can potentially reduce fees to as low as 0.12%, making it an attractive proposition for active traders.

Withdrawal Fees

Withdrawal fees stand at 0.0005 BTC per BTC withdrawal, showcasing a competitive stance compared to the industry average.

This fee structure benefits users looking for cost-effective withdrawal options.

Deposit Methods

Orbix provides wire transfer as a deposit method, offering a convenient channel for users to fund their accounts.

However, it’s essential to note that credit card deposits are not supported, potentially influencing users who prefer this payment method.

The acceptance of fiat currency deposits sets it apart from exchanges that exclusively allow cryptocurrency deposits.

Orbix Overall Rating

With an overall rating of 2.6, it holds the 104th position out of 294 cryptocurrency exchanges.

This comprehensive rating considers factors such as popularity, regulation, liquidity, and customer support.

Users can leverage this rating as a reference point to gauge the platform’s standing in the competitive cryptocurrency exchange landscape.

Web Traffic

The official website serves as a hub for users, attracting organic monthly visits of 145,854.

The organic traffic rank of 124 out of 294 in the cryptocurrency exchanges category further underscores the platform’s visibility.

Insights into web traffic metrics, including bounce rate, pages per visit, and average visit duration, provide a holistic view of user engagement.

Fees Calculator

Orbix offers a Fees Calculator, allowing users to compute fees based on their specific trading parameters.

This tool enhances transparency and empowers users to make informed decisions regarding their trading activities on the platform.

Conclusion

In conclusion, Orbix emerges as a nuanced cryptocurrency exchange, combining strengths such as fiat deposit options, a straightforward fee structure, and a user-friendly interface.

However, potential users should remain vigilant about liquidity challenges and tailor their engagement based on individual preferences and requirements.

Exploring the platform’s features and conducting a thorough assessment is recommended to make the most of the trading experience on Orbix.

FAQ – Frequently Asked Questions

Is Orbix available for US investors?
It does not explicitly prohibit US investors from trading. However, potential users from the United States should independently assess any regulatory considerations based on their citizenship or residency.
What distinguishes it from other exchanges?
Orbix stands out with its diverse asset offerings, including cryptocurrencies, stocks, ETFs, and commodities. The platform’s flat fee structure, experienced leadership, and trading fee discounts further contribute to its unique features.
How does the company ensure security for users?
Orbix emphasizes security by employing industry-standard measures such as cold storage for assets, two-factor authentication, and confirmation emails for withdrawals. However, users might appreciate additional security features like anti-phishing measures and third-party insurance.
What is Satang's liquidity status?
Satang faces challenges in liquidity, evident from its relatively low 24-hour trading volume. Users should be aware that this may result in a thinner order book, potentially impacting the ease of trading.
What is the processing time for deposits?
Deposits from Thai bank accounts typically take up to 24 hours, ensuring a quick process. However, deposits from non-Thai banks may take up to 7 days, depending on the specific bank.
Are there alternatives with higher liquidity?
Users seeking exchanges with higher liquidity may explore alternative platforms, considering factors like trading volume, order book depth, and available trading pairs.
How does the exchange calculate trading fees?
Orbix adopts a flat fee structure of 0.20%, applicable to both makers and takers. Active traders can enjoy fee discounts, with rates potentially dropping to 0.12% for significant trading volumes.
What deposit methods does it support?
The exchange accepts wire transfers for deposits. While this provides fiat deposit options, users should note that credit card deposits are not supported on the platform.
Does Orbix have a native token or incentive program for users?
The available data does not indicate a native token for the company. Users interested in incentive programs or loyalty rewards should explore the platform for any additional offerings.
How does Satang rank among cryptocurrency exchanges?
It holds an overall rating of 2.6, ranked 104 out of 294 cryptocurrency exchanges. This rating considers factors such as popularity, liquidity, and customer support. Users may assess specific categories to align with their preferences.

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Last updated: July 5, 2024