Reviewing OspreyFX Forex broker – Trade over 200 assets now
OspreyFX is one of the leading Forex brokers in the market today. It is used and trusted by hundreds of thousands of Forex traders around the world. Based in Saint Vincent and Grenadines, the Forex broker offers services in numerous jurisdictions around the world.
Established in 2018, OspreFX has already managed to become a very successful and highly reputable Forex broker. Over the past few years, the broker has managed to win numerous awards and was named one of the best brokers in the market.
Although there is no regulatory agency taking care of the services of the broker, it still managed to offer clients very competitive and high-quality services. The broker offers access to numerous trading assets, which includes Forex currency pairs, stocks, indices, cryptocurrencies, commodities, and many others.
Thanks to the MetaTrader 4 and MetaTrader 5 trading platforms offered by the broker, the clients can easily become part of the trading market in just a few clicks. There are numerous account types offered by the broker and going through them is very easy.
Because of this and many other reasons, OspreyFX is among the best Forex brokers online. But, there is much more that traders should know about this broker before doing business with it. So, follow our detailed review of OspreyFX and see everything you need to know about it.
Regulations & safety standards of OspreyFX
When it comes to Forex trading, one of the most important things that every trader should keep in mind at all times is the safety and security of their funds. Sometimes, it becomes very hard to tell the difference between legit and scam brokers.
Because the market is so diverse, it is very hard to decide what to focus on. Some people believe that legit Forex brokers are only the ones that are registered and licensed by official regulatory agencies.
While there is some truth in this, it is not always 100 percent correct. There are many Forex brokers in the market that are regulated but still offer very shady services. On the other hand, OspeyFX is a Forex broker that is not regulated by any jurisdiction around the world, but it still manages to have very high standards of safety.
OspeyFX is a great example that a Forex broker can manage to be very useful and safe even without a strict regulatory framework. This broker is not alone in this field, however, as there are many others like OspreyFX that are not licensed and manage to still be safe and secure service providers.
The main reason why OspreyFX is not regulated is that it is based in Saint Vincent and Grenadines and it simply is not required to be registered locally.
Account Types of OspreyFX reviewed
Our review of OspreyFX shows that there are numerous account types traders can create at this Forex broker. All of these accounts are created so that every single trader, no matter what their interests are, can find something that can fit their personal needs.
The best thing about the account types offered by OspreyFX is that they are very comfortable to use. No matter which type of account you are using, you can very easily change the account type directly in the trading platform, without having to open a whole new account.
You can use the following account types at OspreyFX:
- Mini Account
- Pro Account
- VAR Account
- Standard Account
- Demo Account
How do they work?
All of these accounts are created for different types of traders. So, let’s say that you are a total beginner who has zero experience in the Forex trading market and you are just looking for something that can help you train and gain more experience and skills in the trading market. In this case, the account that you should go with is the demo account.
Demo accounts are offered by the majority of Forex brokers today, and they are among the best ways to start trading Forex. This account can be used to do try out different types of trading strategies and determining which ones fit your personal needs the best.
However, there are some disadvantages associated with them as well. One of the biggest disadvantages associated with this account is that it does not give traders enough experience to work on their emotional skills.
The thing about Forex trading is that it can be very emotional for traders when they are using real-life funds. Because demo account holders do not use their money, they are not able to learn how to control their emotions.
For this, OspreyFX offers a mini account. This account lets traders open very small positions. While it is not the best option for making profits, this is a great fit to learn how to control your emotions and grow as a trader in general.
If you are already an experienced trader, you can use one of the accounts that were created for highly-skilled Forex traders. The pro account offered by OspreyFX is a great fit for professional traders who are looking for more exciting services.
For those who are neither beginners nor experienced traders, the broker also offers a standard trading account. As we have already noted in this review of OspreyFX, going between accounts is not a huge problem at all. All you need to do is to go to the Market Watch in the trading platform and choose which account you wish to use.
What can you trade at OspreyFX?
Clients of OspreyFX offer investors access to an arsenal of trading assets. There are over 200 trading assets available for traders and all of them can be traded using one of the trading platforms offered by the broker.
Among the trading assets available at OspreyFX you can find:
- Forex Currency Pairs
- Stocks of leading companies
- Hard and Soft Commodities
Because there are so many options available for traders, traders of any interest can find something that fits their needs. No matter what you want to trade, you are very likely to find it on OspreyFX, which makes it a truly unique and great brokerage.
The broker also offers clients CFD assets, which are very popular around the world. CFDs are great for traders of all backgrounds as they offer the ability to trade assets without having to own them directly.
When you are trading CFDs, you are not buying or selling any of the assets on their own. Rather, you are simply speculating on the possible price movements in the market. If your predictions prove to be correct, you will earn profits. On the other hand, if your positions are wrong, you will be losing money.
The broker offers over 55 currency pairs, shares of leading companies, such as Apple, Microsoft, Google, Facebook, among others, leading indices in the market, such as NASDAQ 100 and S&P 500, energies such as crude oil, and best-known cryptocurrencies around the world.
Trading platforms of OspreyFX
As we were able to find out while reviewing OspreyFX, this Forex broker offers traders two of the most popular trading platforms available in the market. They are:
- MetaTrader 4
- MetaTrader 5
Both of these trading platforms were created by the same software development company called MetaQuotes, which is a Russian company. MetaTrader 4 was released in 2005, and it was followed by the release of MT5 in 2010.
Both trading platforms can be a great fit for traders. They are very similar to one another, yet offer some distinct differences to traders. For example, MetaTrader 4 is a perfect platform for trading currency pairs, while MT5 was created for other assets as well, such as stocks, CFDs, indices, and others.
These trading platforms come with pre-installed trading indicators which can be very useful for traders to do a market analysis and to make better, well-informed decisions about their positions. No matter which one you use, you will be enjoying very high-quality services.
MT4 is a trading platform that has forever changed the way people trade Forex. This platform is something that has been around for a very long time now and still remains to be very popular among traders of different backgrounds.
While these trading platforms are very good, there are some traders who do not like them because they do not want to download additional applications into their computers. If you are one of such traders, you can use the trading platforms offered by the broker directly from the browser, with a WebTrader.
Mobile trading on OspreyFX
OspreyFX is a very comfortable platform for traders of any interest. One great thing about this is that it offers traders mobile trading platforms which can be used on both iOS and Android devices.
The application is very user-friendly and can be used in just a few clicks. This is a great offering for those who are constantly on the go as mobile trading allows traders to get in touch with the market at all times.
Are there any bonuses available at OspreyFX?
There are no special bonuses or promotions offered by the broker. This should not come as a surprise, however. Although once bonuses and promotions were very popular, things have changed a lot over the past few years.
As of today, not that many Forex brokers offer traders bonuses and promotions anymore. Rather, brokers are using those funds to make their services more accessible for investors and better focus on further developing the trading services.
Account Creation on OspreyFX
As our review of OspreyFX shows, creating a live trading account at this Forex broker is not a huge problem. In fact, it is a very easy process that should not take traders a lot of time. All you have to do to create a live trading account at this Forex broker is to go on the website of the broker, click sing up button and follow instructions.
You will be required to provide basic information about yourself, such as your name, last name, phone number, location, email address, and so on. After doing so, you will also be required to verify your identity.
This requirement is in place because of the Know Your Customer policy, which is one of the best tools used by Forex brokers to fight against money laundering and other dangerous activities. Once you have verified your account, you will be able to fund your account and start trading.
Trading conditions of OspreyFX
As we were able to find while reviewing OspreyFX, the services of the broker are very competitive and all of these make this broker a truly unique brokerage. There are numerous services offered by the broker, and all of them are very well-developed.
The conditions of the broker are very user-oriented and can be very rewarding for traders. The broker offers traders leverage of 1:500, which is very high. This leverage can be very useful for short-term traders to make huge profits even from the slightest movements in the market.
However, leverage is something that should be used with a lot of care. If you do not have enough skills in the market, the leverage will work against you and you will end up losing more money than you can afford.
To get started at the Forex broker, you will be required to deposit at least $10, which is a very little deposit. The broker offers numerous payment solutions, making sure that traders of all different backgrounds can start trading without any problems.
In addition, the commissions and fees of the broker are very low. There are no fees charged by the broker for deposits or withdrawals, which makes it a very competitive broker. The spreads for trading at OspreyFX are also very low, which is truly a great thing.
Multilingual customer support team
While there are many things that make OspreyFX a unique Forex broker, one thing that stands out the most is the fact that it has very highly skilled customer support representatives. As our review of OspreyFX shows, you can contact the customer support team with several different methods.
For starters, you can use the live chat which can be accessed from any page of the website. Then, you can go on a special Contact Us page and fill out a special form. After doing so, the representatives of the broker will contact you directly.
The broker also has a special email that is available for people who might need any type of help. While reviewing OspreyFX we of course reviewed every single one of the customer support team options on our own. All of them turned out to be very helpful and provided us with very detailed information. We managed to get the fastest answer using the live chat of the broker.
Learn more about trading with OspreyFX
When trading Forex, one of the most important factors of becoming a successful trader is to have access to information that is able to help you develop and grow as a trader. There are many options that you have to learn more about the Forex trading market.
OspreyFX makes sure that all of its clients have enough information to become successful at trading. Because of this, it has partnered with leading Forex traders in the market and has created very useful and detailed guides on many complex concepts in the Forex trading market. You can check all of these on the website of the broker.
Pros and Cons of trading with OspreyFX
- Pro: Low commissions and fees for traders
- Pro: Over 200 available trading assets
- Pro: Some of the best-known trading platforms, MT4 and MT5 offered to traders
- Pro: A very helpful and highly skilled customer support team
- Con: Lack of regulations & Licenses
Is OspreyFX legit?
After a very detailed review of OspreyFX, we were able to find that this Forex broker is a legit company offering traders safe and secure services. Although the broker is not officially regulated by any agencies around the world, it still manages to offer investors safe and secure services.
It does so by focusing on the individual needs of its clients. The company has grown a lot over the past few years and it has become one of the main leaders in the market.
What are the available account types of OspreyFX?
As our review of OspreyFX indicates, the Forex broker offers investors numerous accounts types. All of these accounts are created to match the interest of individual traders around the world.
Among the available Forex trading accounts, you can find Standard Account, Pro Account, Mini Account, VAR account, and the demo trading account. You can create any of them according to your experience in the Forex trading market.
Does OspreyFX offer any bonuses?
No, there are no bonuses available at OspreyFX. The Forex broker does not offer any bonuses or promotions to its clients. Rather, it is using those funds to further develop the services and make them better for traders.