Osprey FX Review 2019 | Is Osprey FX a Scam or Legit Forex Broker?
Rating breakdown
Osprey FX Overview
Osprey FX is a Forex Broker offering Forex Trading services via MetaTrader 4, MT4 Mobile and Web trading platforms. Regarding orders execution model, Osprey FX is an a-book broker. Osprey FX offers trading of currencies, indices, CFDs, shares, cryptocurrencies and commodities. Osprey FX is not a licensed broker as it is located in an offshore location where brokers are not regulated. These locations have become notorious for harboring scammers and con artists.
| # | Broker's Features | OSPREY FX Availability |
|---|---|---|
| # | Commissions | ❌ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ✔ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ❌ |
| # | Swaps | ❌ |
| # | Demo account | ❌ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ❌ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Osprey FX.
Osprey FX allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Osprey FX recommended minimum capital is $25.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Osprey FX is regulated by Not regulated. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: Osprey FX is unregulated
Payment methods: Next lets have a look at each broker's payment options. Osprey FX offers Credit/Debit Cards, bitcoins, bank wire different payment methods for each account types.
Deposit and withdrawal: Payments and withdrawal of funds can be made via; Visa, MasterCard, Bank Wire and Bitcoin.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Osprey FX makes MT4 available to clients.
Web & Desktop Trading Platforms: The trading software of Osprey FX allows traders use the MetaTrader4 platform. This platform along with the MetaTrader5 are very good signs as they have become some of the most widely used by experienced traders.
Mobile Trading Platforms:
Support
To contact a customer care representative of this broker, clients are directed to use the live chat bubble on the bottom right of the page.
Recup
Osprey FX is an offshore broker that is operating under no regulatory body and without a license. It has no good reputation on the internet and the website is basically filled with promises of making profit. The minimum requirement is good but the payment methods are limited and this is also a disadvantage.
Final Thoughts
Osprey FX does not offer a demo account and claims to give clients fund safety via “segregation of funds”. It also mentions that its services are ready 24/7 and trades can be carried out whenever the trader wants.
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Published: Wednesday 11 December, 2019