OspreyFX is a forex trading broker founded in 2019 and located in St. Vincent and the Grenadines. The broker provides access to the global financial markets and offers trading opportunities in multiple asset classes, including Forex, CFDs, commodities, indices, and cryptocurrencies.
This broker operates its business internationally under the regulation of the Financial Services Authority and provides clients with a secure and safe trading environment. The broker offers a range of trading tools and resources, including advanced trading platforms, trading signals, daily analysis, educational materials, and customer support. OspreyFX offers various account types, including ECN, STP, and free demo accounts.
Also Read: AvaTrade Review 2023 – Expert Trader Insights
Contents
- What Is Ospreyfx?
- Type Of Ospreyfx Trading Account
- Trading Platform
- Is Ospreyfx Licensing Or Regulated Forex Broker
- Fees, Commissions, And Spreads
- Mobile Trading
- Payment Methods
- Customer Support
- Security & Safety
- Educational Resources
- Benefits And Drawbacks of Trading Forex with Ospreyfx
- Bottom Line
- FAQs
What Is Ospreyfx?
As a genuine ECN broker, OspreyFX gathers liquidity from many international suppliers and offers it directly to their clients. It ensures cheap spreads, quick execution without slippage, and complete avoidance of re-quotes and rate manipulation.
The firm can claim the increased legitimacy they obtain despite not being a registered broker because they pool liquidity from numerous reputable and well-known suppliers, including Lmax, Bitfinex, and Charter Prime.
OspreyFX, a brokerage that supports all trading styles, including day traders, resellers, and the use of expert advisers, has institutional-grade liquidity that enables traders of all skill levels and investment sizes to trade forex on the platform efficiently.
The leverage ranges available to their customers, which are 1:500 for Forex and Metals, 1:100 for Cryptos, 1:200 for energy, 1:50 for Indices, and 1:20 for stocks, are another distinctive feature of the OspreyFX service. The currencies, metals, and cryptocurrencies ranges are extraordinarily high and well above conventional market ranges.
Type Of Ospreyfx Trading Account
Osprey FX offers four types of accounts below, along with the trading rules that apply to all accounts. The four accounts differ regarding entry criteria and minor trading condition adjustments.
All accounts employ market processing as their executing type and are all ECN STP accounts. They feature a minimum trade size of 0.01 lots and a maximum trade size of 1,000 lots, with a maximum leverage of 1:500. They offer 109 equities, 31 cryptocurrencies, nine commodities, 11 indices, 55 FX pairs, and 11 indices for trading. They all have minimal fees and use the MetaTrader 4 trading platform. The stop-out level is set at 70%, while the margin call is set at 100%.
The broker provides ECN trading accounts. Both the MT4 and MT5 platforms support opening it. On the platform, there are also Muslim analog accounts. Mini, Standard, VAR, and PRO are the four ECN account types available to currency pair traders.
Mini Account
OspreyFX offers a Mini Account for novice traders who want to start trading with a lower deposit. The Mini Account requires a minimum deposit of $100 and offers leverage up to 1:500. It is ideal for those who want to trade on a smaller scale and hone their trading skills. This account comes with various features, including 24/7 customer support, educational resources, market news, and access to over 250 other financial instruments. With the Mini Account, you can quickly and easily access the foreign exchange markets, wherever you are, with the OspreyFX mobile trading app.
Standard Account
OspreyFX offers several account types – Standard, Pro, ECN, and Copy Trading. The Standard account type is suitable for beginners and successful traders who prefer to trade with tight spreads and low commissions. With this account type, you can access over 250 trading instruments and take advantage of no minimum deposit and no withdrawal fees. You can also enjoy various features, such as charting, customizable indicators, and real-time prices. The Standard account is available on the OspreyFX mobile app and can be downloaded from the relevant app stores.
Pro Account
OspreyFX offers the Pro Account to traders looking to take their trading to the next level. The Pro Account provides advanced features such as a dedicated account manager, priority support, and enhanced market access. It also includes exclusive trading strategies, personalized advice, and one-on-one training sessions. The Pro Account is designed for experienced traders and those who want to maximize their profits. With the Pro Account, you can access exclusive opportunities, such as zero-fee deposits and withdrawals, free VPS hosting, and exclusive trading tools and strategies.
VAR Account
OspreyFX offers VAR accounts for traders who require more significant margin and leverage flexibility. With a VAR account, you can choose the margin you wish to have for each trade, allowing you to manage your risk more effectively. VAR accounts also offer higher leverage levels, up to 500:1, giving you greater potential for profits. In addition, you can benefit from market-leading spreads and no restrictions on trading styles. The VAR account is ideal for experienced traders who wish to take greater control of their trading.
Trading Platform
OspreyFX provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the two most widely used forex and CFD trading platforms.
MetaTrader 4
The easy dashboard, extensive charting, and analytical capabilities, and fully customizable dashboard are all hallmarks of MetaTrader 4. 30 technical indicators, nine chart periods, tools for market analysis, a variety of order types, and support for automated trading are all features of MT4. Additionally, it offers three execution modes, one-click trading, and easy access to historical data.
Although MT5 has been available for more than ten years and is a well-known forex trading platform, MT4 still offers a higher trading volume than its forerunner.
MetaTrader 5
The newest MetaQuotes platform, MetaTrader 5, has 44 graphical analytical tools, 21 timeframes, 38 technical indicators built-in, and 38 order types. MT5 is more effective, uses more complex software, and is better suited for trading all financial assets. MT5 also supports the MQL5 programming language and real-time market research and analysis.
For web-based order execution, both trading platforms are suitable for Windows and Mac PCs, iOS and Android (APK) mobile devices, and most browsers.
How To Trade Forex With Ospreyfx
OspreyFX makes trading quick and simple. Before trading, traders must contribute funds after they have been validated.
To make a trade:
- Log in to your account and choose the platform you want to use.
- Utilize the navigation bar to look for your chosen object, then double-click it when you find it.
- An additional order window will open.
- Select between pending orders and immediate execution.
- Fill out the remaining order information, including your trade’s specifications, such as volume in lots, stop-loss, and take-profit.
Click the “buy” or “sell” button to complete the transaction.
Also Read: RoboForex Review 2023 – Expert Trader Insights
Is Ospreyfx Licensing or Regulated Forex Broker
OspreyFX has its main office in St. Vincent and the Grenadines, a duly authorized company. Nevertheless, the fact that it is not a regulated fx broker may deter some investors. Segregated bank accounts, negative balance protection, and legal recourse options are just a few safeguards frequently in place for regulated brokers. For these reasons, we often advise choosing a regulated broker.
Having said that, OspreyFX has some chances, thanks to the lack of regulation. For instance, leverage rates are uncapped, the broker can provide cryptocurrency derivatives to investors in particular nations, and client confidentiality can be more carefully protected.
Fees, Commissions, And Spreads
In terms of account types, Osprey FX is a versatile brokerage offering 4 different types of accounts, namely the Standard, VAR, Pro, Mini STP, and ECN trading accounts. It offers leverage up to 1:500. The minimum trading lot is 0.01, and the maximum is up to 1000 lots. However, each account comes with unique minimum deposit requirements, spreads, commissions, and fees. Thus, when selecting the most suitable account type, a trader should consider their available funds as well as the strategy they plan to follow when trading. For example, traders wishing to ensure the tightest spreads should open a PRO account, while those depending on long-term strategies, the account crying the lowest commission fees.
Standard and PRO accounts require a $50 and $500 minimum deposit, respectively. A VAR account applies a 0 (zero) deposit limit but comprises higher spreads. Besides, beginner-level traders can go for the Mini account, which requires only $25 as an initial deposit.
Furthermore, you can open a demo account with OspreyFX, which allows novice investors and traders to practice and prepare well before risking their real money. This strategy will enable you to apply and test new strategies and techniques. Besides, the Islamic Account is also available now, which was a basic requirement for Muslim traders.
The fees and commissions charged may vary based on account types, payment methods, and transaction volumes. However, as a general assessment, the OspreyFX fees compare favorably with industry standards and averages.
Mobile Trading
OspreyFX’s mobile trading app allows you to access the markets on the go, wherever you are. It’s designed to offer a seamless start trading experience, allowing you to monitor prices, track your positions, and create real-time strategies. The mobile app has various features, including charting, customizable indicators, and real-time prices. You can use the app to control your active trades and positions and react to the markets quickly.
The app allows you to access over 250 trading instruments, including forex, CFDs, spot metals, indices, stocks, and cryptocurrencies. OspreyFX’s mobile app is available for Android and iOS devices. You can download these apps from the relevant app stores. The app provides a secure and user-friendly way to trade, with integrated two-factor authentication for added protection. With OspreyFX’s mobile trading app, you can stay connected to the markets and keep an eye on your positions wherever you are.
Payment Methods
With variable costs and processing periods, several payment options can be used to fund and empty OspreyFX accounts. Options include:
- Wire transfer from a bank
- Credit/debit card
- VLoad
- Cryptocurrency
- UPay
Bank transfers charge an extra $25, with a $100 minimum deposit requirement. The minimum deposit for all other payment options is $10. Blockchain info allows for the tracking of bitcoin payments for enhanced security.
Any payment option requires a withdrawal period of at least 24 hours. There is a $25 fee for bank transfer withdrawals of up to $5,000. Except for fees charged by third-party banks, withdrawals of bitcoin are free.
The same accounts associated with the trading account must be used for both deposits and withdrawals. Making account transactions is simple when using the OspreyFX site.
OspreyFX trading accounts can be opened using the basic currencies of USD, GBP, CAD, EUR, AUD, and BTC. The broad selection reduces costs and eliminates the need for currency exchange fees.
Remember that PayPal payments are not accepted right now.
Customer Support
OspreyFX’s customer care team is reachable 24 hours a day, seven days a week, via various conventional methods if you need assistance, possibly because your account is locked or you have received a margin call. Using the live chat option on their website’s lower right corner is the quickest way to get in touch. If you want the broker to contact you, you may request a ticket with your phone number or email address.
Additionally active on social media, OspreyFX is on Facebook, Twitter, Instagram, and LinkedIn. Most customer reviews of the online brokerage’s customer care are favorable. We were happy with the quick response from OspreyFX’s customer support when we needed them.
Demo Account
OspreyFX offers an excellent demo account if you want to test before buying. The accounts can use up any virtual funds as much as they wish, support any trade available on a main account, and are based on 1% leverage. Practice accounts can give you a better feel for the market before you commit. They may even help test new ideas recklessly. Spreads of liquidity or slippage may vary based on the actual live account. OspreyFX organizes regular trade competitions that often include money prize money.Back to Top
Security & Safety
OspreyFX does this in a private manner by separating the client funds with a reliable bank using the funds it owns. Besides providing security features, OspreyFX supports two authentication methods — one for a scanned ID or two for verifying the identity. OspreyFX is not strictly restricted; it takes security very seriously and shows transparency. However, negative balance protection policies and insurance cannot be provided for this purpose.
Educational Resources
A notable drawback of the OspreyFX offering is the lack of a trading academy section with educational resources and learning materials, such as videos, ebooks, and trading guides. These resources greatly aid traders in developing their knowledge and skills, increasing their chances of trading success.
Nevertheless, the dedicated area on the OspreyFX website that covers the most recent financial institutions’ headlines and happenings that directly or indirectly affect the markets and, consequently, trading decisions helps to offset the absence of instructional resources partially. OspreyFX users will find the articles in this section quite helpful and invaluable because they are constantly updated and provide in-depth discussions of a wide range of significant issues.
Benefits And Drawbacks of Trading Forex with Ospreyfx
Access to competitive spreads, cheap costs, cutting-edge charting tools, free training materials, and more are advantages of trading forex with Osprefx. Ospreyfx offers limited customer care, which might be problematic if you have a question or problem. This is one of the disadvantages of trading forex with them. They might not provide the same market research and analytical resources as bigger brokers.
Pros of Ospreyfx
- 5 asset classes are available for trading.
- The standard spread starts at 0.4 pip.
- Even new traders have access to the minimum deposit amount.
- Elevated leverage, particularly for exotic currency pairs.
- Several trading accounts with various degrees of commission fees.
- A referral system that pays out $2.5 for each lot sold by a linked referral.
- Opening accounts in six different currencies, including Bitcoin.
Cons of Ospreyfx
- No international regulator’s license or oversight.
- You must first respond to a series of questions from the virtual chatbot each time before you can talk to the chat operator.
Trust accounts (PAMM or MAMM) are not among the broker’s exclusive investment products.
Bottom Line
Overall, OspreyFX is a brokerage that could properly fulfill the needs of current and prospective traders. It’s a particularly appealing option for those traders who want to trade on or with cryptocurrencies. In fact, in addition to the overall trading conditions provided, which are above average in terms of leverage, spreads, transaction execution, and the processing of deposits and withdrawals, OspreyFX’s offering of Instacoin and Bitcoin, which are both incredibly quick and don’t come with any transaction fees, is a particular strong point. In addition, OspreyFX also offers an extremely alluring affiliate network, which might be a promising and profitable prospect for seasoned traders and those seeking to engage in referrals to supplement their income.
FAQs
Is OspreyFX a Good Broker?
Without a doubt, OspreyFX is not a fraud. Because OspreyFX is an offshore forex broker with excellent data security measures that are far superior to other unregulated brokers, it is included in the list of reliable forex brokers.
What Country is OspreyFX?
OspreyFX is an online brokerage based in St. Vincent and the Grenadines that was established in 2019.
