OspreyFX Review 2022

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OspreyFX is an offshore forex and CFD broker with a range of tradeable assets, competitive leverage rates and access to the MT4 and MT5 trading platforms.

Bonus20% Discount [DayTrading.com Exclusive]
InstrumentsForex, Cryptos, Indices, Stocks, Commodities
Demo AccountYes
Min. Deposit$50
Payment Methods
Min. Trade0.01 lots
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountYes
ECN AccountYes
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsYes
Demo CompetitionsYes
Managed AccountsNo
Market MakerNo
Auto TradingEAs (MT4 & MT5)
Social TradingNo
Copy TradingNo
Islamic AccountYes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Guaranteed Stop LossNo
Stock Exchanges
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
Commodities
  • Copper
  • Gold
  • Natural Gas
  • Oil
  • Platinum
  • Silver
CFD TradingOspreyFX offers CFDs on forex, commodities, stocks, cryptos and indices.
CFD FTSE Spread0.5 pts
CFD GBPUSD Spread0.8 pips
CFD Oil Spread0.09 pips
CFD Stocks Spread0.4 pips
CFD Leverage1:500
Forex TradingOspreyFX offers clients more than 50 major, minor and exotic currency pairs.
Forex GBPUSD Spread0.8 pips
Forex EURUSD Spread0.5 pips
Forex EURGBP Spread0.8 pips
Forex Assets53
Crypto TradingOspreyFX offers a selection of crypto coins paired with USD.
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BTC
  • DASH
  • DOGE
  • EDO
  • EOS
  • ETH
  • IOTA
  • LTC
  • NEO
  • OMG
  • SAN
  • XMR
  • XRP
  • ZEC
Risk Warning – Your capital is at risk

OspreyFX offers two of the world’s most popular platforms for trading CFDs on forex, cryptos, stocks, and commodities. Though unregulated, the broker is a licensed business in St. Vincent and the Grenadines and offers competitive leverage rates and a range of payment options. This review delves into the benefits and drawbacks of signing up with OspreyFX, including account types, financial assets, scam security and more.

OspreyFX Headlines

Founded in 2019, OspreyFX is an online brokerage operating from St. Vincent and the Grenadines. Clients can trade a range of instruments spanning multiple asset classes via the two latest MetaQuotes trading platforms. Its services are best suited to experienced day traders, offering good technical analysis, variable account options and high leverage rates.

As an ECN broker, OspreyFX does not pass order flow to market makers. Instead, it electronically matches trade participants and passes orders through to liquidity providers. ECN brokers typically provide more transparent market data, deeper liquidity and tighter spreads than dealing desk brokers, though often with additional commissions.

OspreyFX is unregulated, meaning that its activities are not necessarily compliant with standard regulatory practices. Clients should be aware that trading with an unregulated broker carries greater risk.

Trading Platforms

OspreyFX offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular platforms for forex and CFD trading.

MetaTrader 4

MetaTrader 4 is known for its intuitive interface, fully customizable dashboard and range of charting and analysis tools. MT4 offers 30 technical indicators, nine chart timeframes, market analysis tools, multiple order types and automated trading support. It also supports one-click trading, three execution modes and historical data is readily available.

This popular forex trading platform is widely used around the world and despite the fact that MT5 has been around for over a decade, MT4 still supports a greater trading volume than its successor.

OspreyFX broker review
MetaTrader 4

MetaTrader 5

MetaTrader 5, the latest platform from MetaQuotes, boasts 38 built-in technical indicators, 21 timeframes, 10 order types and 44 graphical analysis tools. MT5 is better suited for multi-asset trading, leverages more sophisticated software, and is more efficient. MT5 also supports the MQL5 programming language and real-time market review and analysis.

Both trading platforms are compatible with Windows and Mac computers, iOS and Android (APK) mobile devices and most browsers for web-based order execution.

OspreyFX MT5 Trading Platform
MetaTrader 5

How To Place A Trade

Trading with OspreyFX is quick and easy. Once verified, traders will need to add funds before they can begin trading.

To make a trade:

Assets & Markets

Despite its name, OspreyFX does not limit clients to speculating on the foreign exchange markets. The full range of financial assets offered by the broker includes:

Fees & Spreads

OspreyFX follows an ECN pricing model with tight spreads alongside a commission.

Typical spreads on the Standard account are 0.8 pips with a $7 commission per lot, the PRO account offers typical spreads of 0.4 pips with an $8 commission, the VAR solution offers spreads from 1.2 pips with zero commission, and spreads on the Mini account start at 1.0 pip with a $1 commission per lot.

Our experts were pleased to see no inactivity fee and competitive swap fees for overnight positions. Traders may also have to pay a withdrawal fee, depending on the payment method.

Leverage Review

One benefit of not falling within the jurisdiction of a regulatory agency is that OspreyFX can offer leverage rates of up to 1:500 across its range of assets.

While this may be attractive to many thanks to the opportunity for greater market exposure and profit, margin trading should be carried out with care. Leverage can also magnify losses, with the possibility of losing more money than you have capital in your account.

Mobile Apps

OspreyFX clients are not tied to their desks if they want to access their accounts or execute trade orders. Both MT4 and MT5 mobile applications can be downloaded for free on the App Store or Google Play Store, facilitating on-the-move trading and position monitoring. However, mobile trading does have its limitations, with fewer advanced features and analysis capabilities than are supported on desktop or web-based platforms.

Payment Methods

OspreyFX accounts can be funded and emptied using several payment methods, with varying fees and processing times. The options are:

Bank transfers are charged an additional $25 fee, with an increased minimum deposit requirement of $100. All other payment methods have a minimum deposit of $10. Bitcoin payments may be tracked on blockchain.info for added security.

The withdrawal time for any payment method is at least 24 hours. Withdrawals up to $5,000 made via bank transfer incur a $25 fee. Bitcoin withdrawals are free of charge, excluding third-party bank fees.

Deposits and withdrawals must be made from accounts under the same name that the trading account is registered with. Account transactions can be made easily from within the OspreyFX portal.

OspreyFX trading accounts can be opened in USD, EUR, GBP, CAD, AUD and BTC base currencies. The wide range helps keep fees to a minimum, with less need for currency conversion charges.

Note, PayPal payments are not currently accepted.

Demo Account

OspreyFX offers a well-equipped demo account for those who wish to try before they buy. The account is credited with as much virtual funds as desired and supports all forms of trading that are possible on the main account, with the same 1:500 maximum leverage rate.

Practice accounts are a brilliant way to get a feel for a broker, platform or asset range before committing real capital. They can also be used to test new strategies and ideas risk-free. That being said, spreads, liquidity and slippage may not always match those seen in live accounts.

Bonuses & Promotions

OspreyFX regularly runs trading competitions with a variety of rules and goals, often with monetary prizes. For the latest live offers, visit the broker’s website.

The broker also offers a referral bonus scheme.

For a 20% discount off all trading competitions, follow any of our visit buttons, or go direct to OspreyFX.

Live Accounts

OspreyFX offers four account types with a range of features and limits:

Swap-free MT4 and MT5 ECN accounts are also offered for Islamic traders.

Funded Accounts

OspreyFX also offers funded accounts via a three-step program.

Funded accounts essentially allow users to trade on behalf of a company. Profits are then divided between the individual and the company.

To open an OspreyFx funded account:

To progress to the next step, traders cannot exceed a daily loss of 5% or a maximum overall loss of 12%. The minimum trading term is ten days. Traders must also adhere to the consistency rule that states that the best trading day must not exceed 30% of the total profit earned. Criteria must be met in full before a funded account is granted.

Once granted, funded accounts offer weekly payouts, tracking and analysis as well as a verification bonus. Funded accounts are also credited with 200k for which the account holder is not liable.

OspreyFX offers four funded account sizes. For a detailed breakdown visit the broker’s website.

Regulation & Licensing

OspreyFX is headquartered in St. Vincent and the Grenadines, where it is a legally licensed business. That being said, it is not a regulated forex broker, which may put some investors off. Regulated brokers typically have several protective measures in place, such as segregated bank accounts, negative balance protection and legal recourse opportunities. We generally recommend selecting a regulated broker for these reasons.

That being said, being unregulated affords OspreyFX some opportunities. For example, leverage rates are not capped, the broker can provide crypto derivatives to traders in certain countries, and client anonymity can be preserved to a greater level.

Additional Features

OspreyFX offers its clients more than just brokerage services, the website is home to a range of financial news and insights articles, a suite of topical content such as myth debunking, and online calculators.

For traders new to forex or for those that want to brush up on their skills, OspreyFX offers the Forex Squad app. It is a free education tool offering training and resources on a range of topics, including fundamental analysis, forex strategy and trading psychology. The app is free to download and available to all.

OspreyFX Advantages

OspreyFX Drawbacks

Trading Hours

Forex trading opens at 21:00 GMT on a Sunday and closes at 10:00 GMT on a Friday. Despite being open throughout this window, different currency pairs are best traded at times when their respective exchanges are open. For example, the GBP/USD pair is most liquid when both the London Stock Exchange (LSE) and New York Stock Exchange (NYSE) are open, between 13:00 GMT and 16:00 GMT. The main global trading sessions are:

Other financial instruments have different market times. Stocks are only tradeable while their local exchanges are open, commodities have a range of trading times and cryptos are available 24/7.

For full details of trading times in your time zone, visit the broker’s website.

Customer Support

If you find yourself in need of help, perhaps your account is locked or you have received a margin call, OspreyFX’s customer service team are contactable 24/7 via a range of standard methods. The quickest way to get in contact is using the live chat feature in the lower right corner of their website. You can also provide your email address or phone number to submit a ticket request for the broker to contact you back.

OspreyFX is also active across social platforms including Facebook, Twitter, Instagram and LinkedIn. Customer reviews of the support provided by the online brokerage are generally positive. When we used OspreyFX’s customer services, we were pleased with their prompt response.

Security & Safety

Despite no legislative requirement to do so, OspreyFX segregates client funds from its own capital using reputable banking institutions.

OspreyFX also implements KYC protocols and a two-factor authentication process to sign in to your account, using a QR code to verify your identity.

While unregulated, OspreyFX clearly takes the safety of its client funds seriously, demonstrating transparency. That being said, policies such as negative balance protection and insurance are not offered.

OspreyFX Verdict

OspreyFX is an offshore ECN broker offering a good range of trading instruments alongside access to both MT4 and MT5. While using OspreyFX, our experts found that the broker has good levels of accessibility and customer service, with mobile trading support and a competitive fee structure, including a zero-commission account.

However, the lack of educational resources, payment options and regulation leads us to recommend prospective traders with less experience to consider alternative brokers.

Accepted Countries

OspreyFX accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use OspreyFX from Botswana, Myanmar, Congo, Congo DR, Cuba, Ethiopia, Iran, Iraq, Japan, Kenya, Lebanon, Libya, Malta, Palestine, Somalia, Sri Lanka, Sudan, Syria, Trinidad And Tobago, Tunisia, United Kingdom, United States, Viet Nam, Yemen, Zimbabwe.

Compare OspreyFX

Compare OspreyFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to OspreyFX:

  1. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
  2. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  3. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
  4. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.

OspreyFX Comparison Table

Compare OspreyFX With Similar Brokers
OspreyFX World Forex InstaForex Forex.com AAAFx
Rating 4.1 4.5 3.9
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $50 $1 $/€1 $100 $10
Minimum Trade 0.01 lots 0.01 Lots 0.01 Lots $1 0.01 lots
Regulators SVGFSA BVI FSC CySEC, IIROC, NFA, CFTC, FCA, CIMA HCMC (Greece), FSCA (South Africa)
Bonus 20% Discount [DayTrading.com Exclusive] 100% Deposit Bonus 30% – 100% Welcome Bonus No 100% Deposit Bonus available for Global clients
Education No No No Yes No
Platforms MT4, MT5 MT4, MT5 MT4, MT5 MT4 MT4, MT5
Leverage 1:500 1:1000 1:1000 1:200 1:30 EU, 1:500 Global
Payment Methods 5 10 11 8 9
Detailed Comparison OspreyFX vs World Forex OspreyFX vs InstaForex OspreyFX vs Forex.com OspreyFX vs AAAFx
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World Forex
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InstaForex
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Forex.com
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AAAFx
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Compare Trading Instruments

Compare OspreyFX Trading Instruments
OspreyFX World Forex InstaForex Forex.com AAAFx
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes No
Gold Yes Yes Yes Yes Yes
Copper Yes No No No No
Silver Yes Yes Yes Yes No
Corn No No No No No
Crypto Yes Yes Yes Yes Yes
Futures Yes No Yes Yes No
Options No No No Yes No
ETFs No No Yes No No
Bonds No No No No No
Warrants No No No No No
Spreadbetting No No No No No
Volatility Index No No No No No

OspreyFX vs Other Brokers

Compare OspreyFX with any other broker by selecting the other broker below.

OspreyFX vs

The most popular OspreyFX comparisons:

  1. Oanda vs OspreyFX
  2. OspreyFX vs Trader’s Way
  3. OspreyFX vs Hugo’s Way

FAQ

Is OspreyFX A Legit And Safe Broker?

OspreyFX is not regulated by any financial watchdog, creating a level of risk for anyone that opens an account. Unregulated brokers are not required to implement protective measures or abide by legislative limits that are put in place to protect retail investors. However, OspreyFX maintains a good level of site and account security, segregates its client funds and uses two-factor login authentication.

Who Owns OspreyFX?

The owner of OspreyFX is OspreyFX Limited, a holding company also registered in St Vincent and the Grenadines. The broker has been operating since 2019.

Does OspreyFX Offer A Demo Account?

Yes, OspreyFX provides prospective users with a demo account on both its trading platforms. Users can fund their practice accounts with as much virtual money as they want and trade with all the same instruments, leverage rates and functionalities available with live trading.

Where Is OspreyFX Located?

OspreyFX’s headquarters are in St. Vincent and the Grenadines, where it has been operating since 2019 and holds a local business license.

Is OspreyFX On MT5?

OspreyFX offers both MT4 and MT5, appealing to traders that have grown fond of MT4 and supporting more advanced traders and new investors with the sleeker, more sophisticated MT5.

Does OspreyFX Allow US Investors?

No, OspreyFX does not accept US clients, whether citizens or residents of the country. Other restricted countries and locations include the UK, Japan, Malta and North Korea.

OspreyFX is an offshore forex and CFD broker with a range of tradeable assets, competitive leverage rates and access to the MT4 and MT5 trading platforms.