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

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

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.

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.

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

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.

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.

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?

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.

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.

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