About the company:
OspreyFX, a Saint Vincent and the Grenadines-based online ECN broker, was established in 2019. Using two of the most recent MetaQuotes trading platforms, clients may trade a variety of products across several asset classes. Its services are most suited for experienced intraday traders since they provide excellent technical analysis, a variety of account options, and high leverage rates.
ECN brokers, on the other hand, provide a more transparent collection of market data, greater liquidity, and narrower spreads than dealing desk brokers, but at a cost.
The company is not regulated, which means it does not have to adhere to the same set of rules as other businesses. Clients should be informed that dealing with an unlicensed broker is fraught with danger.
Clients are spoiled for choice in their trading platform, offering both MetaTrader 4 and MetaTrader 5, two of the most popular Forex and CFD trading platforms.
MetaTrader 4 is well-known for its user-friendly interface, completely customizable dashboard, and comprehensive charting and analytical features. MT4 includes 30 technical indicators, nine charting periods, market analysis tools, several order types, and automated trading assistance. They are all available in MT4. MetaTrader 5, MetaQuotes’ most recent platform, has 38 technical indicators, 21 periods, 10 order types, and 44 charting tools. MT5 is also superior for multi-asset trading, has more advanced software, and is faster.
If clients wish to access their accounts or place trading orders, they don’t have to use their desktop. The MT4 and MT5 mobile applications are available for free download from the App Store or Google Play Store, making it simple to trade and monitor positions while on the road. Mobile trading, on the other hand, has several drawbacks, such as fewer advanced tools and analytical choices than desktop or online platforms.
- The full range of financial assets offered by the broker includes:
- Forex: 53 major, minor, and exotic currency pairs.
- Indices: 8 global equity indices
- shares of 10 EU companies and 27 US companies.
- CFDs on commodities-7
One of the advantages of not being regulated is that OspreyFX may provide up to 1:500 leverage across its whole asset portfolio. Margin trading, while appealing to many because of the possibility of more market access and profit, should be approached with prudence. Even if you lose more money than you have in your account, leverage might magnify your losses.
- Bank transfer
- debit/credit card
Wire transfers are charged an extra $25 fee and have a $100 minimum deposit requirement. A minimum deposit of $10 is required for all other payment options. For enhanced protection, bitcoin payments may be traced on blockchain.info.
Withdrawals of money by bank transfer and bitcoins are free, save for third-party bank fees. Any payment method has a minimum withdrawal time of 24 hours. Deposits and withdrawals must be made from accounts registered in the same name as the trading account. The interface makes it simple to conduct account transactions.
Trading accounts may be opened in the following base currencies: USD, EUR, GBP, CAD, AUD, and BTC.
Those who wish to trial before they purchase can do so using the firm’s well-equipped demo account. With the same maximum leverage rate of 1:500, the account may be credited with any quantity of virtual funds and supports all kinds of trading available on the primary account.
Before investing real money, demo accounts are a wonderful method to acquire a feel for a broker, platform, or asset range. They may also be used to risklessly test new techniques and ideas. At the same time, due to their unpredictability, spreads, liquidity, and slippage may not necessarily match those observed on actual accounts.
The group holds trading contests on a regular basis, with varying rules and objectives and frequently with financial rewards. There were gold and silver trading contests for a chance to win a PS5, a $2,000 New Year’s Eve competition, and a two-month, $80,000 profit competition in the first quarter of 2021, for example. A referral incentive program is also available from the broker. OspreyFX Crypto Trading
The firm offers four account types, providing a good range of options for traders of all experience levels:
- Standard-spreads from 0.8 pips, commission $3.50, minimum deposit $50.
- Spreads start at 0.4 pips, commission is $3.50, and the minimum deposit is $500.
- VAR-spreads start at 1.2 pips, commission is 0%, and the minimum deposit is $250.
- Spreads start at 1 pip, commission is $1, and the minimum deposit is $25.
- Free MT4 and MT5 ECN swap accounts are also offered for Islamic traders.
Clients may access more than simply brokerage services on the firm’s website, which includes a variety of financial news and analysis pieces, as well as topical material like myth-busting and online calculators. Regrettably, the broker does not provide any training resources, which would be particularly beneficial to inexperienced traders. As a result, if you’re new to trading, you might want to opt for a broker that offers greater help in this area or hunt for other training resources.