OspreyFX Review

OspreyFX Review

✔︎ Low spreads
✔︎ Responsive customer support
✔︎ 500:1 Max Leverage
✔︎ A wide range of tradable assets

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Registered in 2019, OspreyFX is an offshore ECN broker based in St. Vincent and the Grenadines. OspreyFX broker offers competitive high leverage, low spreads and amazing weekly promotions and trading contests. While some traders are unhappy with the service and report having issues, others praised OspreyFX for solid performance and trading conditions.

Top Features:

  • Leverage: 1:500 for Forex and Metals.
  • Assets: +200 tradable assets.
  • Fees: 0% deposit fees.
  • Spreads: starting from as low as 0.1.

Trading Conditions:

  • Account Opening: Minimum deposit is $10 for stocks, indices, commodities, and cryptocurrencies, and $25 for currency pairs.
  • Lot Sizes: from 0.01 micro lots.

Margin Policies:

  • Margin Call/Stop Out Levels: Set at 100% and 70%.
  • +200 trading instruments forex, commodities, stocks, indices, cryptocurrencies, metals
  • Multiple account types
  • Low minimum deposits
  • Trading Platforms
  • Low spreads and commissions
  • It is located offshore, unregulated
  • CFD trading only
  • Some countries are restricted

OspreyFX Main Features

OspreyFX is registered and operating from St. Vincent and the Grenadines. It offers a fairly new trading platform called TradeLocker. Users can use both web-based and mobile platform versions for trading. OspreyFX offers 4 account types as well as a demo account for beginners. 

Here’s a quick table overview of OspreyFX’s top features:

Country of regulationSt. Vincent and the Grenadines
Inactivity feeYes. After 60 days and depending on the account
Withdrawal fee$25 for bank withdrawals
Minimum deposit amount$10
Maximum Leverage1:500
Available base currenciesMultiple, including: USD and cryptocurrencies
Bank card depositsYes
E-wallet depositsYes
Time to open an account24h
Demo account availableYes
Products offeredForex, cryptocurrencies, CFDs

Is OspreyFX Safe?

OspreyFX is an offshore broker. Offshore brokers have less regulations and almost no authority over their business. The lack of explicit regulation from top-tier financial authorities may be a problem.

Here are some key points regarding OspreyFX’s safety profile:

  • Legitimacy: OspreyFX is a genuine broker.
  • Financial Instruments: Forex and CFDs.
  • Trading Platforms: Tradelocker. 
  • Minimum Deposit: from $10 to $25 for currency pairs and depending on the account.

It’s essential that you do your own research if you are interested in this broker.

OspreyFX Commissions and Fees

OspreyFX has variable trading commissions and spreads. Options with higher fixed commissions tend to have lower bid-ask spreads. Zero-commission accounts are balanced by wider spreads.

The broker’s structure has different plans based on trading volume and activity. For instance, trading stock and indexes have a commission fee. This fee is a bit high by industry standards,  at $7 per lot.

InstrumentCommission Fee Per LotSpread
CFDsVariableLow to High

The minimum deposit that OspreyFX requires is $10, which is relatively low. Pay attention to additional costs of trading as well, such as overnight swap fees and inactivity fees. Always review the detailed fee structure on the OspreyFX website before initiating trades.

Account Types

OspreyFX provides four main account types. OspreyFX prides itself on offering quick account setup, making it easy for traders to start trading with an account that matches their needs.

Account TypeIdeal ForMain Features
StandardTraditional currency tradersSimple access
PROProfessional, experienced tradersCompetitive spreads, faster execution
VARFlexibility in spreadsVariable spreads depending on market
MiniBeginners, low-volume tradersLower initial investment, simple entry

How to Open an Account

Follow these simple steps to open an account and start trading:

  1. Go to OspreyFX Website
  2. Click on the ‘Sign Up‘ button.
  3. Fill in personal information, such as your full name, email address, and contact details.
  4. Provide valid identification and residency documents for KYC..
  5. Choose your preferred account type—from Standard, PRO, VAR, or Mini.
  6. Pay the minimum required deposit. The amount is: $10, $25 or $50 depending on the account type.
  7. Download and set up trading platforms they work with like Tradelocker, MetaTrader 4 or MetaTrader 5.
  8. Start trading 

Make sure before you open an account that you have read their Terms and conditions, checked all related fees and read at least some of the user reviews online. 

Trading Platforms

OspreyFX offers  MT4 and MT5 platforms, as well as TradeLocker.

TradeLocker is a web-based platform that is accessible from different devices, including mobile.

MT4Desktop, Web, Mobile AppUser-friendly, Automated Trading, Advanced Charting Tools
MT5Desktop, Web, Mobile AppExtended Time Frames, Economic Calendar, More Indicators
TradeLockerWeb, Mobile compatibleUser-centric Design, Cross-Device Functionality

Trading Instruments +200

OspreyFX provides over 200 different instruments for trade.  

Breakdown of Top Instruments by Category

  1. Forex:
    • Major Pairs: USD/EUR, USD/GBP, etc.
    • Minor Pairs: EUR/AUD, GBP/JPY, etc.
    • Exotic Pairs: USD/SEK, EUR/TRY, etc.
  2. Indices:
    • Examples: Dow Jones Industrial Average, FTSE 100, DAX30.
  3. Cryptocurrency:
    • Leading Cryptos: Bitcoin, Ethereum, Ripple.
    • Altcoins: Litecoin, Dash, and more.
  4. Metals:
    • Key Offerings: Gold (XAU), Silver (XAG).

Educational Resources

OspreyFX will help you develop your trading skills and market knowledge. Their educational materials include:

  • Trading Learning Platform: OspreyFX has designed a learning platform available on their website. It is good for beginners since it covers basics, but also for intermediate traders who want to develop their strategy.
  • Video Tutorials: Video tutorials will guide you through the platform’s features, trading techniques, and market analysis.
  • Webinars: Regular webinars are hosted by experienced traders and market analysts. These live sessions allow you to check on market trends, and talk with experts.

Customer Support

OspreyFX has efficient customer service. Users mention “easy deposits/withdrawals” and say it’s very simple to use. This contributes positively to the overall user experience, with one customer reporting a “great experience” on Trustpilot as of May 09, 2023.

OspreyFX encourages customers to reach out for support, directing inquiries to their email [email protected]

Some of the Trustpilot ratings and real user feedback: 

  • A review written on the platform rates the broker as “Great,” with a score of 4.1/5.
  • Another review sees a slight drop in services but still classifies them as “Great,” with a score of 3.9/5.

Deposit and Withdrawal Methods

OspreyFX provides bank wire transfers, credit/debit cards, and cryptocurrencies to manage .

Bank Wire:

  • Deposit: Available
  • Withdrawal: Available

Credit/Debit Cards:

  • Visa/MasterCard: Accepted
  • Deposit Fee: 0%*
  • Withdraw: Permitted


  • Bitcoin and Other Cryptos: Supported
  • Blockchain Fee: May apply**

* Additional charges from the card provider may apply.
** Subject to the cryptocurrency network’s fees.

OspreyFX’s has a  0% fee from the broker’s side on both deposits and withdrawals, except bank wire which costs $25. Make sure you verify the specifics of each method as external fees. Since banks may have their own additional fees for any type of transaction . 

Real User Reviews and Ratings are Mixed

Data from Trustpilot and Reddit have mixed but generally positive sentiment on real user reviews. Users highlight how easy it is to use the platform.

Deposits and Withdrawals:

  • Deposits are reported to be straightforward.
  • Some users want more flexible withdrawals in terms of cryptocurrency types.

User Interface:

  • The platform is described as very easy to use by new traders.
  • The availability of a user-friendly MetaTrader & Tradelocker app.

Support and Feedback:

  • OspreyFX’s support team has positive user feedback. 

Best OspreyFX Alternatives

NextTrade stands out for its robust regulatory framework and user-friendly trading platform. They offer a range of financial instruments, including forex, commodities, and indices. Here are some key features:

  • Tight spreads
  • Advanced charting tools
  • Reliable customer support

AvaTrade, platform is particularly accommodating for traders of all experience levels due to:

  • Access to multiple trading platforms
  • Over 250 trading instruments
  • Strong focus on trader education and support

Best OspreyFX Alternatives

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Expert Opinion Summary

OspreyFX is a part of Osprey Ltd, which is registered under the Company Number 25288 BC 2019. The registration address is located at Suite 4, Beachmont Business Centre, Kingstown St. The firm has tight spreads, starting from 0.1 pips, which is particularly risky for strategies like scalping that rely on narrow spreads to maximize profits. This is combined with the high leverage, going up to 1:500, which allows you to broaden your trading positions.


  • Low minimum deposit: minimum deposit of only $25.
  • Access to Tradelocker: Offers access to popular trading platform.
  • Flexible Trading Instruments: Traders can access Forex, Cryptos, CFDs, Stocks, and Commodities.


  • Low minimum deposit: minimum deposit of only $25.
  • Access to Tradelocker: Offers access to popular trading platform.
  • Flexible Trading Instruments: Traders can access Forex, Cryptos, CFDs, Stocks, and Commodities.

The broker applies ECN and STP execution models, so that you can directly interact with the market, which can lead to better execution prices. 

OspreyFX is an offshore firm, which can impact the trust level for certain investors. You should check the benefits of regulated trading terms against the risks of trading with an unregulated broker.

Frequently Asked Questions

What are the pros and cons of trading with OspreyFX?

Pros of trading with OspreyFX include access to high leverage up to 500:1 and acceptance of US traders. They provide trading via Tradelocker and with different instruments. The biggest disadvantage is that OspreyFX is an unregulated broker.

How do users rate their experience with OspreyFX on Trustpilot?

Users on Trustpilot gave OspreyFX positive ratings for responsive support and useful educational resources. Overall, the reviews are mixed, with some users having issues with security protocols.

What should traders expect with OspreyFX spreads?

Traders with OspreyFX should expect competitive spreads, which vary based on account types and market conditions. The broker is known for low trading costs, including a zero-commission account option, allowing cost-efficient trading.

Can traders from the US legally trade with OspreyFX?

Traders from the US can legally trade with OspreyFX as the broker accepts US customers. But, consider the absence of regulatory oversight and the implications of trading with an offshore broker.

Welcome Bonus
10% Deposit Bonus
Min Deposit: $10
Licensing & Safety
Bonuses & Promotions
Customer Support
4.3 Overall Rating

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