OspreyFX Review

OspreyFX Logo

OspreyFX is an ECN broker that offers CFD trading on a generous range of financial instruments including forex, commodities, cryptocurrency, stocks, indices, metals, and energies. You can trade online with the broker via the user-friendly MetaTrader platforms for web, desktop and the mobile app. OspreyFX requires a minimum deposit of just $50 and has flexible leverage of up to 1:500. There are also free demo accounts available if you wish to practice trading online before opening a real trading account.

Founded in 2019 and based in Saint Vincent and the Grenadines, OspreyFX 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 tight spreads and good execution speeds with minimal slippage. They also have very reasonable fees when compared with their direct competitors.

At OspreyFX, traders can trade on institutional grade liquidity from some of the top global investment banks, hedge funds, as well as from completely transparent dark pool liquidity execution venues. This means that you will be able to trade on ultra-tight spreads, starting as low as 0.0 pips.

OspreyFX has the ability to provide market-leading rates and trading conditions by way of the MT4 trading platform by supplying clients with true ECN connectivity. As a result of the large number of varied liquidity options, OspreyFX has become the broker of choice for many who trade in high volumes, scalpers, and those who simply demand the very best spreads alongside flawless execution.

OspreyFX ECN Broker
OspreyFX ECN Broker

OspreyFX Platforms

OspreyFX supply the industry standard MetaTrader platforms from MetaQuotes. MetaQuotes Software is a developer of software applications for brokerages, banks, and exchanges. It develops FX Charts, platform that performs trading operations and analyses currency pair quotes in the Forex market. The company offers MetaTrader 5 and MetaTrader 4 trading platforms, MQL5 programming language, Finteza web analytics, and TeamWox management system.

OspreyFX MetaTrader 4 Platforms
OspreyFX MetaTrader 4 Platforms

MetaTrader 4 (MT4) Platform

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.

The powerful MetaTrader 4 trading system allows you to implement strategies of any complexity. The market and pending orders, instant execution and trading from a chart, stop orders and trailing stop, a tick chart and trading history, automated trading with Expert Advisors (EAs) – all of these features are at your disposal and 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 without needing to install any additional software, 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 on iOS and Android devices.

With the OspreyFX MT4 trading platform, trading instantly becomes versatile and hassle-free.

  • 3 Execution modes
  • 2 Market orders
  • 4 Pending orders
  • 2 Stop orders and a trailing stop
  • 50+ technical indicators & drawing objects
  • Price alert notifications
  • Multiple chart types & timeframes
  • Automated trading
  • Custom trading tools
  • Web, desktop and mobile trading
OspreyFX MetaTrader 5 Platforms
OspreyFX MetaTrader 5 Platforms

MetaTrader 5 Trading Platform

MT5 is an all-in-one trading platform that allows traders access to a broader range of financial assets, revolutionary technology, and advanced trading tools. You can download MetaTrader 5 across multiple devices to discover a better trading experience alongside the OspreyFX range of products and trading conditions.

Following the success of the renowned MT4, MT5 was developed to give traders a more enhanced trading experience. Offering advanced charting tools & revolutionary technology MT5 is designed to offer everything you need for fast, versatile & informed trading.

Enhanced Charting & Analysis Tools

Unlimited number charts, 38 technical indicators, Depth of Market and improved strategy tester for algorithmic trading and Expert Advisors (EAs).

MQL5 Programming Language

MQL5 is easier to use and allows traders to write & alter scripts. With MQL5 trading operations can be executed using just one function.

Robust Risk Management

6 types of pending orders including Buy Stop & Sell Stop Limit, 4 order execution types, to help monitor trading positions quicker and more effectively.

21 Different Timeframes

MT5 gives access to more than double the number of timeframes than MT4. 11 types of minute charts, 7 types of hourly charts and 365 daily, weekly, yearly timeframes.

Multiple Asset Platform

MT5 is a technologically advanced, multi-asset platform built to allow traders to trade new markets. Trade Forex, Crypto, Commodities, Indices and Stocks all from one account.

Real-time Market & News Analysis

Push notifications, real-time news and alerts, macroeconomic releases with a built-in economic calendar for a more thorough analysis of the news and market events.

TriumphFX Trading Tools

OspreyFX kindly provide some handy trading tools to help assist your with planning your trades and analysing the markets.

OspreyFX Forex Squad
OspreyFX Forex Squad

Forex Squad

OspreyFX have partnered with Forex Squad to provide a free training resource for traders. You can sign up for access to e-learning materials that will provide everything you need to know to trade the forex market.

Forex Squad provides traders with an easy to use training platform designed to help increase your knowledge of the markets and trading skills. The Forex Squad platform includes:

  • Basics of Forex Trading
  • Advanced Forex Trading
  • Forex Strategy
  • Tools & Indicators
  • Technical Analysis
  • Fundamental Analysis
  • Trading Psychology
  • Tips to Trade Like a Pro
OspreyFX Economic Calendar
OspreyFX Economic Calendar

Economic Calendar

Many assets can become volatile in and around specific market events, for instance, there can often be a correlation with the US dollar and the monthly Non-Farm Payroll report. Keep an eye on market news and events with the OspreyFX economic calendar to stay up to date with key dates that may impact the assets you trade.

OspreyFX Forex Calculators
OspreyFX Forex Calculators

Forex Calculators

The OspreyFX trading calculators provide you with an assessment of the market to help you manage your risk and make informed trading decisions. Values are calculated in real-time with the brokerage’s current market prices to provide an accurate result. The margin calculator, the pip value calculator, the currency converter and the swaps calculator are all available to help with risk management and to help monitor each trade position.

Margin Calculator

The required minimum amount in your account, which is necessary to open the desired position

Swaps Calculator

Financing costs play a special role in forex. Check the amounts that are due or will be credited to your account for positions that are held overnight.

Pip/Point Value

It is always good to know how much the current profit or loss will change when the price of the underlying asset moves by one pip.

Currency Converter

The currency converter allows you to calculate live currency and foreign exchange rates.

OspreyFX Trading Instruments

OspreyFX have a great selection of financial instruments across multiple asset classes. Clients can trade CFDs on FX currency pairs, cryptos, stocks, shares, indices, commodities, metals and energies.

  • 30+ crypto pairs
  • 55+ currencies
  • 100+ stocks
  • Popular commodities
  • Metals and energies

CFD Trading Instruments

OspreyFX offer CFD trading. CFDs are financial instruments of the so-called derivative products because their price is established according to the price of an underlying asset that can be an index, shares, futures or commodities, among others.

The CFD is a contract between a trader and a broker who agree to exchange the difference between the entry price and the exit price of the underlying asset. You can buy and sell CFDs with OspreyFX. The difference between the CFD price from when you open and close the positions, is the profit or loss minus any brokerage fees.

With CFD leverage, traders can invest larger amounts than they actually have. Leverage in CFDs allows them to literally multiply the exposure and profits, but it is very important to be aware that leveraged trading is a double-edged knife with higher risks for the trader.

OspreyFX Research & Education

OspreyFX show that they care about clients making informed trading decisions by offering a variety of educational resources and market research to help traders with their daily trading activities.

OspreyFX News & Updates
OspreyFX News & Updates

OspreyFX News

There is a section of the OspreyFX 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 Education
OspreyFX Trading Education

Forex Trading Education

On the brokers website, you will find some really helpful educational resources that teach beginners how to trade forex online. If you are not a novice, you can skip ahead to the next sections for exclusive content geared towards intermediate and advanced traders. There is a generous amount of free content that covers subjects such as trading strategies, market analysis, money management, trading discipline and psychology.

OspreyFX Trading Accounts

The broker offers a variety of 4 ECN 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.

The account type that you choose may depend on your trading strategy. Those who are using scalping strategies, may need tighter spreads. On the other hand, those who are swing trading or day trading and holding positions for a long period of time, may not be so concerned about the account spreads. New traders may want to practice trading on the demo account or use the mini account to get a feel for a real trading environment with minimal investment. Just select the account type via MT4 that suits your trading style.

The ECN accounts offer some of the lowest possible spreads available. They aggregate liquidity from over 50 different banks to deliver the best available prices at any given time. OspreyFX’s ECN account were built for day traders, scalpers and automated trading with expert advisors, whatever your trading style they’ve got you covered.

Standard Account

  • Spreads from: 0.8
  • Minimum deposit: $50
  • Forex pairs: 55
  • Commission per lot, per round turn: $7.00

PRO Account

  • Spreads from: 0.4
  • Minimum deposit: $500
  • Forex pairs: 55
  • Commission per lot, per round turn: $8.00

VAR Account

  • Spreads from: 1.2
  • Minimum deposit: $250
  • Forex pairs: 55
  • Commission per lot, per round turn: $0

Mini Account

  • Spreads from: 1.0
  • Minimum deposit: $25
  • Forex pairs: 29
  • Commission per lot, per round turn: $1.0

Demo Account

Demo accounts are also available free of charge. They are preloaded with unlimited virtual funds and can be great for practice purposes. This allows you to test different trading strategies and master your trading skills in a risk-free environment. Once you have built the confidence and are having some consistent success, you may then consider switching over to a real trading account.

Islamic Accounts

There is an OspreyFX Islamic account for Muslim traders. This account complies with Sharia law and does not charge any swap-fees.

OspreyFX Account Funding

OspreyFX has a variety of convenient funding options to make sure that trading with them is a swift and seamless experience. You can choose from the following payment methods for account deposits and withdrawal: bank transfer, credit/debit cards, cryptos and e-Wallets.

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. Some payment methods may not be available in certain countries. Third party payments are not allowed, funding must be done in an account that is in your name.

OspreyFX works closely with its payment service providers to ensure fast and flawless deposits and withdrawals. They are currently working with banks worldwide, including some top financial institutions.

Credit/Debit Card

You can fund your trading account using major credit cards. Keep in mind that if you deposit by card you must withdraw the same amount by card before taking profits via another method. You can take all other profits out using either Bitcoin or Wire/Bank Transfer if you so wish to do so.

Bank Transfer

Wire Transfer is the most wide-spread money transfer method in the world. You can opt to transfer money to your OspreyFX wallet directly from your bank account. Wire transfers can take up to six days but the broker aims to have it processed on their side within one business day. They do charge $25 for banking fees on withdrawals of up 5K.

Bitcoin

OspreyFX can send your profits to you via bitcoin, just create a withdraw request inside your account and the brokers team will aim to process it the same day. You can track the progress of the transaction on blockchain.info

Online Payment Processors

In addition to the traditional forms of bank and card payments, the broker supports online processors such as VLoad. These payments can be instantaneous and perhaps more convenient for some traders.

OspreyFX Funding Options
OspreyFX Funding Options

OspreyFX Customer Service

OspreyFX is there for you every step of the way. The broker offers 24/7 support, allowing clients to contact with any of the friendly and experienced customer service agents throughout the trading week. Whether you have questions or you would just like to provide them with feedback regarding their services, they are happy to assist you at any time.

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 Regulation

OspreyFX is an offshore broker located in Saint Vincent and the Grenadines. But there is no regulatory information on the broker’s website. Whilst lack of regulation may deter some potential clients, it does mean that the broker is able to offer certain trading conditions, products and services, that a regulated broker may not be able to due to strict regulations.

The broker mentions that all client funds are held either in the name of the client and/or held in the name of OspreyFX for the client in an independent bank account. Furthermore, they state that they keep segregated accounting records in their system. This ensures that the brokers own funds and assets and client funds are tracked separately.

At any time, they can quickly and accurately distinguish the funds which are being held for one client from those being held for another, as well as being able to distinguish from their own funds. They mention that client funds are kept off-balance and are never used to pay creditors in the unlikely event that OspreyFX were to close its doors.

OspreyFX regularly pinpoints, analyses, monitors and regulates each type of risk connected with its day-to-day operations. This includes evaluating on an ongoing basis the performance of the policies and procedures which they have in place. This can help to allow OspreyFX to be able to cover their financial and capital requirements with ease.

OspreyFX wants their clients to rest assured that fund security, execution, and client support are of the utmost importance to them.

OspreyFX FAQ

What is OspreyFX minimum deposit?

The minimum deposit required by OspreyFX is $25.

Where is OspreyFX based?

OspreyFX is based in St. Vincent and the Grenadines.

When was OspreyFX founded?

OspreyFX was founded in 2019.

What are OspreyFX platforms?

OspreyFX provide the MetaTrader 4 and MetaTrader 5 platforms for web, desktop and mobile.

What trading instruments do OspreyFX have?

With OspreyFX, you can trade CFDs on Forex, Cryptos, Stocks, Shares, Indices, Commodities, Metals and Energies.

What are OspreyFX deposit and withdrawal options?

OspreyFX accept deposits and withdrawals via wire transfer, credit/debit card, cryptos and e-Wallets.

What is OspreyFX leverage?

The maximum leverage at OspreyFX is 1:500.

What is OspreyFX commission fee?

OspreyFX provide commission free accounts or a commission-based account with a $7-$8 commission fee depending on the account type.

What are OspreyFX spreads?

OspreyFX have floating spreads starting from 0.4 pips.

Do OspreyFX offer demo accounts?

Yes, there is a free OspreyFX demo account if you would like to trial the brokers services before opening a real account.

Do OspreyFX offer Islamic accounts?

Yes, you are able to create an Islamic Account with OspreyFX.

Do OspreyFX allow scalping, hedging, news trading and automated trading?

Yes, OspreyFX do not have any restrictions on trading strategies.

Do OspreyFX charge an inactivity fee?

OspreyFX do not mention any inactivity fees.

Is OspreyFX regulated?

The broker is not currently regulated.

OspreyFX Review Summary

OspreyFX is a true ECN broker that provides a secure ECN trading environment which permits traders to trade exclusively online. OspreyFX state that pride themselves on being a loyal, quality, and devoted broker through the STP execution business model that they implement. They have a great choice of trading platforms for buying and selling hundreds of trading instruments with tight spreads, low fees and rapid trade execution speeds. There is also a range of trading tools and educational materials to assist traders. However, the broker is not regulated at the moment.

OspreyFX

8.2

Spreads

9.0/10

Liquidity

9.0/10

Commissions

9.0/10

Support

9.0/10

Regulation

5.0/10

Features

  • Start Trading with as Little as $25
  • Continuously Low Spreads
  • Lightning Fast ECN Broker
  • Leverage up to 1:500
  • Cutting-Edge Technology
  • Expert Advisors Allowed
  • User-friendly Platforms
  • Trading Tools & Educational Resources
  • Convenient Funding Options
  • 24/7 Customer Support