OspreyFX, an STP broker using ECN technology, was established in Saint Vincent and the Grenadines in 2018. It offers FX and CFD trading, encompassing indices, commodities, stocks, and cryptocurrencies.
The firm is currently striving for growth, actively applying for a dealer license.
Traders Union recently conducted a full comprehensive OspreyFX broker review. The firm, now seeking a dealer license, allows users to trade via MetaTrader 4/5 or WebTrader on desktop or mobile with high leverage.
Osprey FX broker: pros and cons
In its thorough review, Traders Union outlined several pros and cons of utilizing OspreyFX for cryptocurrency trading.
Pros:
- Availability of trading across five distinct asset classes.
- Competitive spreads begin at just 0.4 pips.
- Minimal deposit requirement is accessible to beginners in trading.
- High leverage options, particularly for forex trading.
- Diverse selection of trading accounts, each with unique commission fees.
- Beneficial affiliate program offering $2.5 per lot sold via referred individuals.
- Facility to open accounts in six different currencies, inclusive of Bitcoin (₿).
Cons:
- Absence of licensure or oversight from an international regulatory body.
- Requirement to interact with a virtual bot and answer a set of questions prior to chatting with a live operator.
- Lack of trust accounts such as PAMM or MAMM in the broker’s own investment programs.
Expert review of OspreyFХ
TU experts have recently examined OspreyFX, a budding ECN and STP broker based in Saint Vincent and the Grenadines. Here’s a summary of their findings:
- OspreyFX is a new player in the market, currently unregulated but planning to obtain a license soon.
- They provide a variety of account types for forex traders, including a unified ECN account compatible with MT4 and MT5 platforms.
- The broker supports leveraged trading and the use of trading robots and advisors.
- Passive investors have the option to link to the MQL5.com copy trading platform.
- The product portfolio includes an extensive selection of CFDs, featuring cryptocurrencies.
- An attractive affiliate program provides rewards for each traded lot of referrals.
- Customer engagement is fostered through regular competitions and contests, and 24/7 support is available.
- Extensive educational resources, cent, and demo accounts are available for beginners.
- Minimum trading start is set at a low $10, catering to novice traders.
- Notably, as OspreyFX is unregulated and doesn’t participate in compensation schemes, deposits made are not protected.
Analysis of the main features of this broker
Traders Union carried out a thorough analysis and assessment of OspreyFX, basing their evaluation on the following benchmarks:
- Overall Score: 1.76
- Execution of Orders: 1.55 out of 10
- Investment Instruments: 1.97 out of 10
- Withdrawal Speed: 1.61 out of 10
- Customer Support Work: 1.91 out of 10
- Variety of Instruments: 1.39 out of 10
- Trading Platform: 2.13 out of 10
OspreyFX’s investment programs
Traders Union has comprehensively analyzed the offerings of OspreyFX. Here’s a concise summary of their findings:
- OspreyFX clients with an MQL5.com account can leverage MetaQuotes Ltd’s investment programs.
- These programs offer trading signals, where investors can choose signal providers, pay a commercial subscription, and automatically copy selected traders’ actions. This facilitates passive income generation.
- Additionally, investors can purchase expert advisors or trading robots, and technical indicators on MQL5.com or order algorithmic trading applications. This helps avoid independent market analysis.
- The decision on which passive strategy to use lies entirely with the investor, as OspreyFX doesn’t recommend specific providers, advisors, or robots.
- Special assistance is provided to large investors with investments exceeding $10,000, covering the entire process from signup to profit withdrawal.
- OspreyFX offers an affiliate program where partners earn $2.5 per traded lot of their referral, with payouts every Friday.
Top 5 alternatives to Osprey FX broker
TU experts have extensively evaluated the market to identify the top 5 alternatives to the Osprey FX broker, each providing unique offerings and advantages.
- RoboForex: Known for its wide range of trading instruments, automated trading via robots, and user-friendly platform features.
- Pocket Option: A binary options broker that provides flexibility with numerous assets, a user-friendly interface, and instant access to trades.
- Tickmill: Offers low spreads and commissions, fast execution of orders, and a strong focus on forex and CFDs trading.
- Exness: Renowned for instant withdrawals, a variety of account types, and exceptional customer service in multiple languages.
- AMarkets: Features high-leverage options, comprehensive educational resources, and a wide selection of trading platforms.
In this mix of alternatives, one must not overlook Spreadex crypto, especially for cryptocurrency enthusiasts. Spreadex stands out for its specialized offering in spread betting on cryptocurrencies. Traders choosing Spreadex crypto options enjoy competitive spreads, excellent platform functionality, and robust security measures, making it an attractive choice for those looking to diversify their trading portfolio with digital assets.
Conclusion
OspreyFX, albeit a relatively new player in the brokerage scene, offers a broad array of assets, high leverage, and an appealing affiliate program. However, the lack of regulation underlines potential risks. Alternatives like RoboForex, Pocket Option, Tickmill, Exness, AMarkets, and Spreadex Crypto offer diverse opportunities to traders. For a more in-depth understanding and comparison, we encourage you to visit the Traders Union website.