OspreyFX Review - Is OspreyFX The Real Offer or Fradulent Broker? Read This First

Called after the very large, distinctively shaped, fish preying hawk, which appropriately embellishes the brand's logo design, OspreyFX is a reasonably new entrant in the world of forex brokerages, aiming to provide existing and aiming traders an innovative venue in which they can satisfy all their trading requirements, consisting of the trading of cryptocurrencies.

The review listed below has actually been prepared by our resident team in order to provide and highlight all the aspects of the OspreyFX offering, aiming to help interested users decide if OspreyFX is the most suitable brokerage to best match and serve their own particular trading needs.

What is OspreyFX?

As a true ECN broker, OspreyFX aggregate liquidity from various worldwide providers, which they directly provide to their clients, guaranteeing competitive spreads and quick execution, without slippage, and keeping away from re-quotes and rate control. Though not a controlled broker, OspreyFX can possess the added legitimacy they receive by the truth that they aggregate liquidity from several popular and trusted companies, such as Lmax, Charter Prime, and Bitfinex. Such institutional grade liquidity permits traders of all experience levels and regardless of their investment size to effectively trade on OspreyFX, which is a brokerage catering for all trading designs, including day traders, scalpers, and professional consultant's usage.

Another identifying aspect of the OspreyFX offering is the utilize varies at the disposal of their clients, which are 1:500 for Forex and Metals, 1:100 for Cryptos, 1:200 for energies, 1:50 for Indices, and 1:20 for stocks. The varieties for forex, metals, and cryptos are extremely high and well above existing market standards.

Investor Defense & Regulations

Considering that its structure in 2019, OspreyFX has actually not yet been managed or licensed by any significant guard dog in any jurisdiction. OspreyFX is in truth an offshore broker considering that it lies in St. Vincent and the Grenadines, and therefore its clients potentially delight in limited defense or at least no security adhered to through the imposition of a federal government or non-government body.

This being stated, OspreyFX takes active procedures to offer security for their clients such as guaranteeing that the broker's funds and possessions are completely segregated from client funds. Furthermore, they constantly keep an eye on and assess all kinds of threats linked to their operations to be able at all times to cover all the associated monetary and capital requirements and actively mitigate any risks as quickly as they emerge.

Furthermore, by implementing obligatory two-factor authentication, they help their customers keep their personal data and account safe and protected.

Tradeable Products

OspreyFX offer an acceptable range of tradable possessions throughout the main properties' classes of Forex, Cryptos, Metals, Energies, Futures, Indices, and Stocks. The choice of tradable instruments is sufficient to please the requirements of the majority of traders, therefore accommodating portfolio diversity.

The offering in terms of forex currency pair includes all the majors, as well as minor and unique sets, supplying sufficient lucrative chances, while with 31 different cryptocurrencies offered, crypto enthusiasts will be more than happy trading on OspreyFX, which is especially encouraging of crypto trading, likewise accepting cryptos as an approach of funding one's trading account.

Charges and Commissions

In terms of account types, Osprey FX is a versatile brokerage offering 4 different account types, namely the Standard, PRO, VAR, and Mini ECN/STP trading accounts with up to 1:500 utilize, 0.01 minimum lot size, and 1000 maximum lot size, however, each comes with various minimum deposit requirements, as well as spreads and commission fees. Thus, when choosing the most ideal account type, a trader needs to consider their readily available funds along with the strategy they prepare to follow when trading. For instance, traders wishing to ensure the tightest spreads must open a PRO account, while those relying on long-term methods, the account carrying the most affordable commission charges.

A Standard account needs a minimum deposit of $50, a PRO account a deposit of $500, a VAR account, which includes 0 zero but greater spreads, a deposit of $250, while a Mini account can be opened with a preliminary deposit of $25.

It is possible to open a demo account on OspreyFX, which allows beginner traders to practice before risking their genuine funds, while also enabling seasoned traders to test and experiment with brand-new techniques and strategies. Islamic accounts which might be a barrier for Muslim traders in the past are now offered.

The charges charged vary depending on the account type held, the payment techniques used, and the actual deals carried out, nevertheless, as a basic assessment the OspreyFX fees compare positively with market requirements and averages.

Trading Platform

The trading platform used on OspreyFX is the MT4 platform, the most popular and extensively platform in the industry. The MT4 is preferred by the majority of traders due to its user-friendliness, coupled with the reality that it is totally personalized. Simplicity makes it attractive to novices, while the abundance of advanced functions and extra abilities it integrates, totally satisfies the requirements of skilled traders.

OspreyFX uses all the variations of the MT4 platform, particularly the desktop, web trader, and mobile variations. This indicates that traders can trade at all times, from any device and regardless of their operating system, while likewise having the ability to trade on the go.

Account Types

In terms of account types, Osprey FX is a flexible brokerage offering 4 various account types, specifically the Requirement, PRO, VAR, and Mini accounts. All accounts are ECN/STP trading accounts with approximately 1:500 take advantage of, 0.01 minimum lot size, and 1000 optimum lot size.

Supported Countries

Since OspreyFX is not controlled, its brokerage services are naturally not directed towards any specific jurisdiction and thus are neither planned for use in areas where regional laws and guidelines forbid such services. For instance, in accordance with UK financial guidelines, OspreyFX does not offer Agreement for Distinction (CFDs) or CFD-like trading services to UK clients. Currently, and due to regional restrictions, residents from Burma, Congo, Cuba, the Democratic Republic of Congo (Republic of Zaire), Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Somalia, Sudan, Syria, Vietnam, and Zimbabwe, are not allowed to trade through OspreyFX.

Deposit and withdrawal

There are plenty of deposit and withdrawal approaches offered for OspreyFX users, such as credit/debit cards, Wire transfer, Bitcoin, Instacoin, Vload, and Upay. Bitcoin and Instacoin are especially popular as payment methods given that such deals are finished with ease and speed, while not carrying any extra charges. Wire transfers feature a $25 cost and have a minimum required quantity of $100, while they may use up to six days to be completed. It must be noted that not all deposit and withdrawal methods are offered all over, as restrictions vary from country to nation in addition to from payment provider to payment service provider. Because utilizing an account in one's own currency includes no conversion costs, it is especially beneficial that OspreyFX allows clients to open an account in any of the major fiat currencies (USD, EUR, GBP, CAD, AUD), in addition to in BTC.

Functionality

The user experience when trading on OspreyFX's site is exceptional and the clear and expert layout and structure of the website, in addition to its user-friendly and responsive navigation significantly enhance the user experience.

Client Support

Osprey FX customer assistance is readily available on a 24/7 basis, by means of live chat or email, though many may find the absence of a phone line an obvious downside especially when customers may need an immediate reaction for a particular matter or if an inquiry relates to a complex matter that can not be effectively communicated through electronic means.

This being stated, the live chat client service method is efficient and responsive and users are provided with answers in simply a couple of minutes. The online ticket submission and e-mail contact approaches are also an efficient and effective methods of interaction and consumer assistance because on top of being readily available on a 24/7 basis, responses are usually provided within 24 hours.

Education and Research

The absence of a trading academy section including finding out materials and academic resources, such as videos, ebooks, and trading guides is a notable drawback of the OspreyFX offering since such resources significantly help traders enhance their knowledge base and skills and causing better chances for trading success.

This being said, the lack of educational resources is partially balanced out by the devoted section on the OspreyFX website which covers the most current forex and crypto news, alongside breaking financial headings and advancements directly or indirectly affecting the marketplaces and therefore trading choices. The fact that the articles included herein are upgraded regularly and provide thorough and in-depth protection of a fantastic range of crucial subjects is very useful and an indispensable resource at the disposal of OspreyFX users.

Overall Conclusion-- Final Ideas

In general, OspreyFX is a brokerage that might sufficiently satisfy the requirements of existing and aspiring traders and a very attractive choice particularly for those traders wishing to trade on or with cryptocurrencies. In fact, on top of the overall trading conditions used, which are above average in regards to take advantage of, spreads, deal execution and the processing of deposits and withdrawals, a particular strong point of OspreyFX is the offering of the Instacoin and Bitcoin, both of which are super-fast and do not require any transaction charges either. Additionally, OspreyFX also runs a really appealing affiliate program, which might well be a very promising and rewarding chance for skilled traders and those wishing to participate in referrals in order to supplement their earnings.

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