OspreyFX review - offshore metatrader broker with crypto deposits- traders ratings.

1.859 • 18 REVIEWS
Prop Firm
Updated: Sep 20, 2022
OspreyFX.com Is this your company?

What is OspreyFX?

OspreyFX is an unregulated forex broker with headquarters at Saint Vincent and Grenadines. Offshore location allows for the high leverage of up to 500:1. Osprey FX also accepts US traders looking to avoid domestic regulatory restrictions. Deposits and withdrawals are done through the cryptocurrencies only.

Metatrader is the sole trading platforms offered by Osprey broker with both MT4 and MT5 versions available for desktops, mobile, or as a WebTrader. All trading styles are supported including news spike trading, scalping, and algorithmic EAs.

OspreyFX offers over 55 forex currency pairs, over 30 cryptocurrencies (including popular Bitcoin, Litecoin, and Ethereum), and over 125 stock indexes, precious metals, and commodities CFDs.

Please read OspreyFx Reviews below and share live trading experiences with this broker.

August 2019:  Multiple fake and highly suspicious positive reviews submitted for OspreyFX.
1.859 • 18 REVIEWS

Traders Reviews

P
Peter
New York, USA,
Jul 3, 2022,
Guest

OspreyFX Funded Trader Challenge is a SCAM

Service use: Live Length of use: over 1 Year
As a broker, Osprey has been good. I’ve had no problems with trades or withdrawals. Unfortunately, their funded account side of the business is pure scam. 98% of traders who pay for their challenge will fail. I passed my 200k challenge and received a congratulations email. 5 mins later they emailed saying that I will not be getting a funded account because of other reasons. They claim that I violated trade rules like position size, holding trades overnight, and inconsistent trading. Their rules clearly state that all this is allowed. After further dispute they stopped responding. I did some online research and found several other people who passed the verification stage and also did not receive a funded account. What a dishonest, scam of a company! This funded trader division puts a bad reputation on an otherwise good offshore broker. Shame
C
CA, USA,
Jun 1, 2022,
Registered user

Stealing Trading Balance

Service use: Live Length of use: 6-12 Months
I have used OspreyFX on and off for the past 2-3 years now as they offer a nice UI compared to my typical trading broker, but recently, I have deposited more balance to test their MT5 accounts.

I stumbled across the fact that they are stealing individuals' balances and profits from MT5 account users. The screenshots below show that my all-time profits do not match my account balance.

I should have around $512.16 account balance from $12.76 in profits (after commission and swap), but my trading balance is $509.

https://prnt.sc/A8DN98N0IszW
https://prnt.sc/YrRpe5ROXSQl

Additionally, here are some demo accounts that have the exact same issue. Both have started with $10k balance yet after profits, their balance does not match by over $10 dollars. https://prnt.sc/H4cZV-smJEPL

DO NOT USE THIS BROKER. THEY BLATANTLY STEAL MONEY FROM YOU.
C
Chad Galvan
FL, USA,
Apr 8, 2022,
Guest

Passed 100k stage 1 challenge, then they lied about me failing verification

Service use: Demo Length of use: 0-3 Months
they claimed I violated the 5% daily drawdown limit.
I have a screenshot that i was only down 4%. I made sure my last trade would get nowhere near 5%. I had a whole $1000 cushion left, they claimed I was $87 over 5%. I suspect they do this often, as I’ve heard from someone that they never received their funded account even upon passing both stages. They must just collect the $$ from challenges & attempt to avoid giving out real $$. I put them on blast on iG/twitter. They contacted me on iG telling me to “submit a ticket” on their site. Every time i submit, there is an error. I even gave them my # & still haven’t received an answer. They are based off shore & unregulated so that was suspect as it is, I only chose them because someone gave me a 50% discount code (which Osprey probably promoted in desperation to get more challenge $$) They will be reported & hawked down.
A
Cd. Mexico, Mexico (really the offices of OspreyFX in Malta),
Feb 11, 2022,
Registered user

Easy to use (I should know - I work inside their offices)

Service use: Demo Length of use: 3-6 Months
I have used ospreyFX for almost 6 months and love it, they have good support, and until now I have not had any issues on withdrawal tbh
Forex Peace Army
Review moderation team note
5 Star Rating removed.

This review did not come from Mexico.  It came from the same location on Malta used by OspreyFX's representative to the FPA.

Per FPA policy, the rating on this review has been set to Zero stars.
J
Mexico, Mexico (Really inside the offices of OspreyFX in Malta),
Feb 11, 2022,
Registered user

Funded and demo account (and the pay my salary)

Service use: Other Length of use: 0-3 Months
At first I was not sure of what OspreyFX could offer, I started with a demo account to see how it worked and if the broker was not scammy then set a small deposit and everything went okay, the withdrawal was easy, like the fact that I do not have to put thousands at first. I had a problem with my Mt4 and the customer support was surprisingly veeeeeery responsive and good. Now, I like the fact that opened a kind of new promo of a funded account where the broker funds your account and you can start trading. Being careful about the risk but so far it is been a great experience for me.
Forex Peace Army
Review moderation team note
5 Star Rating removed.

This review did not come from Mexico.  It came from the same location on Malta used by OspreyFX's representative to the FPA.

Per FPA policy, the rating on this review has been set to Zero stars.
M
Joliet, USA,
Aug 20, 2021,
Registered user

No feedback from customer service.

Service use: Live Length of use: 0-3 Months
I had an MAJOR issue with a deposit. I sent SEVERAL emails to customer service to gain some clarity, and still have yet to receive a response.
T
Winston Salem, USA,
Jul 12, 2021,
Registered user

Outstanding trading conditions!

Service use: Live Length of use: 6-12 Months
On the plus side there are no position limits, They have micro and standard charts that can be traded on the same account except that the commodities and cryptos are all standard. I was horrified to learn that other brokers have a MUCH higher spread on cryptos than Osprey does. Withdrawals only take minutes to a few hours at most.
The brokers was recommended by a trader that trades large sums so I'm dubious about the claim that larger withdrawals aren't being paid. Although I have experienced that with another broker every thing was going fine with that one till I hit 10K then they tried to say that there was evidence of money laundering. So I crashed the account rather than let them steal it from me.
One the negative side they don't have any positive swaps. And they have pro pairs that have a tighter spread that is offset by the higher commissions and same swaps so what's the point?
J
usa, USA,
Feb 18, 2021,
Registered user

Ospreyfx

Length of use: 0-3 Months
NO WONDER WHY I KEEP LOSING TRADES, They will close out your trades hit your stoploss when its nowhere close to the stop 100 pips away , Its weird how when a trade goes against me 100 pip it cost me $5 but when it goes my direction 100 pips i am still in the negative on the same trade WTF. Stay away SCAMMER ALERT.
J
Reply by OspreyFX submitted Aug 13, 2021:
Hi Jamie,

Thank you for your review and please be assured that we appreciate your feedback.

Please note when submitting a sell order, the position will open at the BID price and close at the ASK price and vice versa for buy orders, also the pip difference would be due to spreads, spreads may be larger at times of higher volatility.

We would like to assess your query and would be happy to investigate further on what happened.

Kindly contact me on success@ospreyfx.com at your earliest convenience.

We are looking forward to resolving this for you as soon as possible.

Best regards,
Greg
OspreyFX Team
M
USA, USA,
Jan 18, 2021,
Registered user

OspreyFX

Service use: Live Length of use: 3-6 Months
Deposited and withdrew some profits a few times now with no issues. Did not experience the BTC "fee" others complained about.

I mainly use them to trade cryptos. The spreads on BTC and especially ETH and LTC are tighter to other brokers. Lot size for cryptos is lower than other brokers so it kind of evens out if you want to look at it that way.
M
Reply by OspreyFX submitted Aug 13, 2021:
Thank you for your review, we value your feedback.

We're here if you need us, always ready to support.

Best Regards,
Lora
OspreyFX Team
D
Georgia, USA,
Sep 30, 2020,
Registered user

Irregular

Service use: Live Length of use: 3-6 Months
At first they were doing good, giving me all my money I withdrew etc. but now I’m having issues withdrawing 900 dollars and they will only give me 500??? It’s unbsurd. Now I’m in 2 disputes with their payment team and they respond really slow and take forever to even email back. Be cautious with your money on here
2 traders have found this review helpful
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Frequently Asked Questions

Is OspreyFX regulated?

OspreyFX is not regulated by any government or non government body.

In other words, there is no designated government or non-government body to supervise the activities of OspreyFX or to resolve complaints.

Is OspreyFX good?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if OspreyFX is a good broker. https://www.forexpeacearmy.com/forex-reviews/16239/ospreyfx-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent OspreyFX community discussions: https://www.forexpeacearmy.com/community/tags/ospreyfx/

Does OspreyFX allow Hedging, Scalping and News Trading?

OspreyFX doesn't impose any restrictions on trading strategies. Traders are permitted to hedge, scalp and trade during news events.

What are the Leverage Options on OspreyFX?

The leverage on OspreyFX varies depending on the assets.
  • Forex/Metals: 1:500
  • Cryptos: 1:100
  • Stocks: 1:20
  • Indices: 1:200 
  • Energies: 1:200