Founded in 2019 and based in Saint Vincent and the Grenadines, OspreyFX is an ECN forex and CFD broker that offers online trading of forex, commodities, cryptocurrency, stocks, indices, metals, and energies. The broker operates the straight-through processing (STP) execution model, thus, executable streaming prices (ESP) are dispatched from the various liquidity providers directly to the broker’s platform devoid of a dealing desk intervention, rate manipulation, or re-quotes. This enables them to offer competitive spreads and good execution speeds with minimal slippage. The brokerage requires a minimum deposit of $50 and has flexible leverage of up to 1:500.
OspreyFX Review Introduction
In this OspreyFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including OspreyFX.
OspreyFX Platforms & Tools
OspreyFX provides clients with the popular and sophisticated MetaTrader 4 trading platform. It was developed in 2005 by the Russian software company — MetaQuotes. It has a fully customizable and user-friendly interface, and it is replete with useful features and advanced functionality to satisfy the needs of different traders. MT4 supports market and pending orders, instant execution, automated trading with Expert Advisors (EAs), multiple chart types, and much more.
The MT4 platform is available as a desktop application for Windows and Mac computers, a WebTrader that runs directly on most modern web browsers, and mobile apps that are compatible with iOS and Android devices. The mobile apps enable traders to manage their accounts and place trades at any time and from anywhere in the world, provided there is an internet connection. They can be downloaded from the relevant app stores.
OspreyFX Research & Education
There is a section of the broker’s website, where they cover the latest forex and crypto news, as well as any breaking financial stories that can impact your trading. There is also a good range of frequently updated articles covering a variety of topics.
OspreyFX Trading Accounts
The broker offers a variety of account types to suit differing trader’s needs. The available account types and their least opening balance are the Standard ($50), PRO ($500), VAR ($250), and Mini ($25) accounts.
The notable difference between the accounts is the minimum deposit requirements, spreads, and commission fees. All accounts have leverage of up to 1:500 with minimum and maximum lot sizes of 0.01 and 1000 respectively. Demo accounts are also available. They are preloaded with virtual funds for practice purposes.
OspreyFX Account Funding
OspreyFX offers the following payment methods for account funding and withdrawal: bank transfer, credit/debit cards, Bitcoin, VLoad, and UPay. Accounts can be opened in USD, EUR, GBP, CAD, AUD, and BTC. Currency conversion fees do not apply when using accounts in your own currency. The transaction fees and processing time may vary with the payment method used.
OspreyFX Customer Service
The broker provides an online form for traders who wish to send their questions, and they respond within 24 hours. There is also an automated online chatbot on the broker’s website.
OspreyFX is an offshore broker located in Saint Vincent and the Grenadines. But there is no regulatory information on the broker’s website.
OspreyFX Review Summary
OspreyFX is an online broker that offers basic online trading via the MT4 platform. They have a selection of cryptocurrencies for trading and provide a few educational materials.
It is worth mentioning that some of the trading products and services in this OspreyFX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the OspreyFX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.