Introduction
OspreyFX is a recent entrant into the forex brokerage market, taking its name from the huge, recognizable hawk that is well-known for its ability to hunt fish. The company’s goal is to give novice and seasoned traders alike a platform to fulfil all of their trading requirements, including trading cryptocurrency.
In this review we are going to highlight all the features of OspreyFX. This review will help you decide if OspreyFX is the right brokerage for your specific trading needs.
Overview
| Broker | OspreyFX |
| Website | https://ospreyfx.com/ |
| Registered Country | Cyprus |
| Founded In | 2003 |
| Regulation | Financial Supervision Commission (FSC) |
| Trading Platforms | Mobile Application. |
| Minimum Deposit | $1 |
| Maximum Leverage | 1:30 |
| Spreads | Starting from 0.4 Pips |
| Demo Account | Yes |
| Islamic Account | No |
| Payment Methods | Bank Transfers, Card Payments, OnlineBankingPL, Carte Bleue, Blik, Direct , eBanking, Apple / Google Pay |
| Customer Support | Email: [email protected]
Contact: +359 0800 20 111 |
What is Ospreyfx?
Osprey Ltd., Company Number 25288 BC 2019, is the operator of OspreyFX, an offshore ECN forex broker that was founded in 2019. Its registered address is Beachmont Business Centre, Suite 4, Kingstown, St. Vincent and the Grenadines, K001. They give traders access to a platform that allows them to access liquidity from many international sources, guaranteeing cheap spreads and quick execution without slippage.
OspreyFX does not manipulate rates or engage in requoting, in contrast to certain brokers.
Despite being unregulated, OspreyFX establishes credibility by obtaining liquidity from reliable sources like Bitfinex, Lmax, and Charter Prime. Trading is made possible for traders of all skill levels and investment sizes by this excellent liquidity.
OspreyFX allows for the employment of expert advisers, scalping, and day trading, among other trading strategies.OspreyFX user reviews are inconsistent. While some traders are worried about their lack of regulatory status, others are pleased with their products, features, and general performance.
Is Ospreyfx a legit broker?
No. As OspreyFX is not subject to financial authority regulation, no strict regulations apply. Some traders may find this problematic because there is no responsibility. This means that you are on your own in the event of a problem. They collaborate with a number of reliable companies, like Bitfinex, Lmax, and Charter Prime, which lends some credence to their reliability.
Assets available at OspreyFx
OspreyFX provides trading across markets on TradeLocker. You can access investment items like metals, indexes, commodities, currency, and so forth with its help. Additionally, financed accounts with 80% profit retention are available from OspreyFX.
Accounts offered by Ospreyfx
| Account Type | Minimum Deposit |
| Mini | $25 |
| Standard | $50 |
| Variable | $250 |
| Pro | $500 |
OspreyFX provides five trading accounts, one of which is a demo. A $50 minimum deposit is required for a Standard account, $500 for a PRO account, $250 for a VAR account (which has zero spreads but has higher fees), and $25 is all that is needed to start a Mini account. For a more rapid overview, look at the table above.
How to open an Account on Ospreyfx?
Creating an account on the platform is a rather straightforward and user-friendly process. To open an account, complete these steps:
Step1: Click the “Sign up” button in the upper-right corner of the Ospreyfx website after visiting its official website.
Step 2: Fill out your personal account information, including your name, last name, email address, age, phone number, and a secure password.
Step 3: You can also register using Google.
Step 4: After you’ve finished the verification process, submit a copy of your identity documents that were granted by the government.
Step 5: Fill out the form and fund your account with the necessary minimum after your account details have been verified.
You can now invest in your account.
Login with Ospreyfx
After registering on the website, you can login to Ospreyfx with a password and an email address.
Trading platform available at Ospreyfx
OspreyFX uses the MT4 platform, which is the most popular and widely used trading platform in the industry. The MT4 platform is favoured by many traders because it is user-friendly and fully customizable.
Its simplicity makes it attractive to beginners, while its advanced features and capabilities meet the needs of experienced traders.
OspreyFX offers all versions of the MT4 platform: desktop, web trader, and mobile versions. This allows traders to trade anytime, from any device, and regardless of their operating system. With these options, traders can easily trade on the go.
Spreads, Fees and Commission
OspreyFX offers four different account types: Standard, PRO, VAR, and Mini ECN/STP trading accounts. Each account type comes with different minimum deposit requirements, spreads, and commission fees. The leverage can go up to 1:500, with a minimum lot size of 0.01 and a maximum lot size of 1000.
When choosing an account type, traders should consider their available funds and trading strategy. For example, those looking for the tightest spreads should opt for a PRO account, while those using long-term strategies might prefer an account with the lowest commission fees.
Here are the minimum deposit requirements for each account:
- Standard account: $50
- PRO account: $500
- VAR account: $250 (offers zero spreads but higher spreads)
- Mini account: $25
OspreyFX also offers a demo account, allowing new traders to practice without risking real money and experienced traders to test new strategies. Additionally, Islamic accounts are available, making the platform accessible to Muslim traders.
The fees charged by OspreyFX vary based on the account type, payment methods, and transactions performed. However, OspreyFX’s fees are generally competitive compared to industry standards and averages.
Leverage
A notable feature of OspreyFX is the range of leverage options available to clients. These are:
- 1:500 for Forex and Metals
- 1:100 for Cryptocurrencies
- 1:200 for Energies
- 1:50 for Indices
- 1:20 for Stocks
The leverage offered for forex, metals, and cryptocurrencies is exceptionally high and exceeds current industry standards. This wide range of leverage options allows traders to maximise their trading potential according to their risk tolerance and market of choice. If you want more leverage, check out FXRoad and TradeEU too.
Deposits and withdrawals at Ospreyfx
A range of deposit and withdrawal options are available with OspreyFX, including wire transfers, credit/debit cards, Bitcoin, Instacoin, Vload, and Upay. Because they are quick and fee-free, Bitcoin and Instacoin are particularly well-liked.
There is a $25 cost for wire transfers, which need a $100 minimum and can take up to six days to process. It’s crucial to remember that depending on your nation and payment provider, different deposit and withdrawal options may be available.
It is better to open an account in your native currency to avoid conversion fees. Major fiat currencies (USD, EUR, GBP, CAD, AUD) and Bitcoin (BTC) are accepted for accounts with OspreyFX. This flexibility aids clients in more effective money management.
Educational and Research Resources
On their website, OspreyFX offers an array of research and instructional tools. To assist traders in developing their abilities and expertise, these resources include webinars, video lessons, and a trading learning platform.
Their competitions, where players can win multiple prizes are one amazing element. Weekly promo codes are also available, which are worthwhile to take advantage of for more chances and advantages. OspreyFX is a desirable choice for both novice and seasoned traders wishing to improve their trading expertise because of these tools and features.
Customer Support
OspreyFX provides email and live chat customer service 24/7. Although the lack of a phone line may be a disadvantage to some, their live chat service is effective and quick, offering responses in a matter of minutes.
Additionally, you can use their efficient, 24/7 online ticket submission and email contact methods. Responses to these techniques are usually given in less than a day, guaranteeing that customers get help for their questions and problems in a timely manner.
Conclusion
A relatively new forex brokerage, OspreyFX, provides a variety of account kinds and trading opportunities. It makes up for its lack of regulatory monitoring with competitive spreads and easy access to dependable liquidity providers.
The platform offers both new and seasoned traders an easy-to-use trading experience via the well-known MT4 platform. OspreyFX aims to satisfy a range of trader demands by offering a variety of leverage options and deposit/withdrawal methods.
Before trading, however, prospective users must take into account the absence of regulation and do extensive study. All things considered, OspreyFX offers traders opportunities, but because it is unregulated, it needs to be carefully considered.
FAQs
Is OspreyFX regulated?
The fact that OspreyFX is not subject to financial authority regulation worries some traders.
How much money must be deposited in order to start an account?
Depending on the type of account, the minimum deposit might be anywhere from $1 and $500.
Which trading platforms are available from OspreyFX?
The main platform used by OspreyFX is MT4, which comes in desktop, online, and mobile versions.
Are there OspreyFX Islamic accounts available?
No, Islamic accounts are not available at OspreyFX.
Which methods of deposits and withdrawals is OspreyFX compatible with?
Online banking, card payments, and bank transfers are just a few of the ways that OspreyFX accepts.
Can I open a demo account with OspreyFX?
Indeed, OspreyFX offers a sample account that allows users to practice trading methods without having to risk real money.
Is customer service open 24/7?
Yes, OspreyFX provides round-the-clock email and live chat support for customers.
