Here is another option:


    hexToRGB =
      RGBColor[ FromDigits[#, 16]/255 & /@ StringTake[#, {{2, 3}, {4, 5}, {6, 7}}] ] &;
    
    hexToRGB@"#FF8c00" // ColorSetter

![Mathematica graphics](https://i.sstatic.net/ceXCx.png)