Established in 2018 and offering a variety of trading accounts and platforms, OspreyFX attracts traders with competitive leverage and low deposit requirements. However, the Forex and CFD prop firm operates without a license.

Experts and client feedback suggest that its lack of regulation and higher fees might be significant drawbacks. Dive into our truthful OspreyFX review to uncover whether this prop firm is reliable for your trading needs or a hoax like Profit Rex.

Regulated by:	No Regulation Expected
Is This Company Safe?	OspreyFX looks suspicious. We don’t recommend it.
Known Websites:	ospreyfx.com
Have Warnings from:	N/A
Registered in:	SVG
Operating since:	2018-11-30
Trading Platforms:	MT4
Maximum Leverage:	1:500
Minimum Deposit:	25 USD
Deposit Bonus:	N/A
Trading Assets:	Forex, Indices, Commodities, Stocks, Cryptocurrencies
Free Demo Account:	Available
How to Withdraw from This Company?	Since this company is unlikely to return your money, contact your bank, financial regulator, or us for professional assistance in recovering your funds.

Is OspreyFX Legit?

Despite offering seemingly attractive deals, the OspreyFX broker business operates as an unregulated trading platform. According to its Terms & Conditions, the brand is owned by Osprey Ltd, registered in the offshore domain of St. Vincent and the Grenadines (SVG). The country’s Financial Services Authority (FSA) does not regulate forex markets, leaving the provider to operate without proper oversight.

No regulation means that OspreyFX is not monitored by any financial authorities, putting your data and funds at risk. Without legal protection, traders are vulnerable to fraud. For a safer trading experience, we advise opting for licensed brokers like Bitpanda.

Trust companies that have obtained permits from reputed financial market authorities such as the FCA (UK), CFTC/NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.

Trader Reviews – Sharing Experiences

We found 149 OspreyFX reviews on trustpilot.com. As of writing, the firm received an average score of 2.8/5. Many comments accuse the business of fraudulent practices.

“This broker is fine if you plan to trade with minimal funds ($50-$1000), but if you have a large account, they will steal your withdrawals ($5,000 and above),” one Trustpilot user wrote.

Multiple OspreyFX Reddit threads are devoted to exposing the offshore provider’s alleged wrongdoings and cunning tricks.  We suggest reading all the feedback to gain insights into potential issues and consequences of trading with OspreyFX. Generally, skim through regulatory warning lists and user reviews when investing with an online firm.

Who are OspreyFX’s Users?

According to WHOIS, the ospreyfx.com website domain was created on November 30, 2018. Since then, the offshore company has been offering its proprietary services mainly to traders from the following countries:

• United States
• United Kingdom
• South Africa
• Canada

All these states boast heavy financial market regulations to fend off anonymous imposters and ensure legitimate companies operate transparently. As mentioned, Forex and CFD trading are not regulated in SVG. All companies based there operate without regulatory oversight, meaning they are far riskier than recognized American or British brokerage firms.

OspreyFX funded account

OspreyFX allows users to trade a funded account with an 80-20% profit split in their favor. The provider offers the opportunity to trade their capital through a structured three-step Osprey challenge:

Step 1: Demo Stage – OspreyFX demo requirements include achieving a 10% profit over a minimum of 10 trading days, a maximum overall loss of 12%, and a maximum daily loss of 5%.

Step 2: Verification Once  – Here, you must achieve an 8% profit, trade for at least 10 days, and adhere to the same loss limits. Your best trading day does not exceed 30% of overall profits.

Step 3: Get Funded – Traders enjoy 80% of the profits, with weekly payouts. The same loss limits apply and ensure ongoing risk management.

Account Types

Basic:

• $25,000 account
• One-time refundable fee: $220
• $1,000 bonus upon challenge completion

Starter:

• $50,000 account
• One-time refundable fee: $359
• $1,000 bonus upon challenge completion

Pro:

• $100,000 account
• One-time refundable fee: $599
• $1,000 bonus upon challenge completion

Advance:

• $200,000 account
• One-time refundable fee: $999
• $1,000 bonus upon challenge completion

Trading Platforms

The website says clients can access the industry’s leading trading platforms, OspreyFX MT4 and MT5. These platforms are renowned for their advanced charting features, a wide array of technical analysis tools, and support from expert advisors (EAs). 

Available for download on desktop, the OspreyFX app for mobile devices, and through an online browser, they offer multiple order types and execution modes, along with powerful backtesting capabilities to refine trading strategies. However, we must reiterate that the firm is unregulated, potentially jeopardizing all the funds on the platform.

Trading Conditions – Leverage, Spreads, Fees

The OspreyFX leverage reaches 1:500, enabling traders to amplify their trading power and potentially achieve higher profits with smaller investments. However, this high leverage also carries substantial risks of major losses that could exceed the initial investment. Inexperienced traders should refrain from using leverage.

OspreyFX provides various account types, each with different spreads and commissions. The Standard account features spreads from 0.8 pips with a $7 commission per lot, while the PRO account offers tighter spreads from 0.4 pips but with an $8 commission per lot. 

The VAR account has no commission and spreads starting at 1.2 pips, and the Mini account offers spreads from 1.0 pips with a $1 commission per lot. High commissions on some accounts and inactivity fees after 60 days can be drawbacks.

How to Get a Withdrawal

OspreyFX offers a variety of deposit and withdrawal methods to ensure clients can easily manage their funds. Deposit options include Bitcoin, Litecoin, Ethereum, USDT (ERC20 and TRC20), USD Coin (TRC20), Dogecoin, Ripple, and credit/debit cards via third-party platforms. PayRedeem is also available but incurs a 6.5% transaction fee. Withdrawals must generally be made using the same method as the deposit.

OspreyFX does not charge deposit or withdrawal fees. However, third-party providers may charge their commissions and conditions, and withdrawal methods may be limited based on the initial deposit method.

Key Information to Consider About OspreyFX

OspreyFX is an unregulated broker/prop firm offering high leverage, various account types, and multiple cryptocurrency payment options, but it carries significant risks and fees, particularly for payments. Main clients include British, American, Canadian, and South African users.

In our review, we explained this company’s offerings and the downsides of its business model. Our verdict? Do not trust these agents because they are based offshore and operate under no regulatory supervision.

If you have issues with the OspreyFX prop firm, please book a free consultation with our team and share your experience. We can help you recover your money, but you must act quickly!

If this company stole your money, contact us for help and initiate the chargeback process.

FAQ Section

What is OspreyFX?

OspreyFX is a broker/prop firm offering high leverage, various account types, and multiple cryptocurrency payment options.

Is OspreyFX Legit?

This company is based in SVG, meaning it does not have a Forex trading license. Be careful..

What is the Minimum Deposit for OspreyFX Funded Account?

According to the website, the minimum deposit requirement for an OspreyFX-funded account is 25 USD.