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

1.645 • 21 REVIEWS
Prop Firm
Updated: Feb 5, 2024

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.

TradeLocker is the sole trading platforms offered by Osprey Broker available for desktops and mobile. 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.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $25
Established: 2018
Address: Beachmont Business Centre, Suite 4, Kingstown., Saint Vincent And Grenadines
Contact: support@ospreyfx.com
Regional offices:
Prohibited countries:
Trading platforms: TradeLocker
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (30+) Bitcoin, Litecoin, Ethereum
CFD: (55+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bitcoin, Dogecoin (DOGE), Ether/Ethereum, Litecoin, PayRedeem, Ripple (XRP), Tether (USDT)
Withdrawal Methods: Bitcoin, PayRedeem
* Please check broker website for more information
1.645 • 21 REVIEWS

Recent User Reviews of OspreyFX

Mexico, Mexico (Really inside the offices of OspreyFX in Malta),
Feb 11, 2022,
Registered user

Funded and demo account (and they 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.
1 trader has found this review helpful
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.
Joey bennett
Va, USA,
Feb 2, 2024,
Registered user

OspreyFx prices are not real

Service use: Live Length of use: 3-6 Months
I promise you OspreyFx will take your money in more ways than one. Please please do not use it.  The prices on their chart is not real and their charts on tradelocker is very manipulated.  You will end up losing all your money.
Florida, USA,
Jul 11, 2023,
Registered user

Prepare to fail

Service use: Other Length of use: 6-12 Months
Prepare to fail, this company do whatever to make sure do don't pass your challenge.
I passed my challenge several times and when I claim why I am not getting my funded account credentials they claim something different. Now they claim I did too much money in one day and I have to make 6k more in one week to pass the challenge which is in second phase already. The customer service couldn't explain how much I had to do to lower my best day, I had to figure out myself.

I passed the challenge last month (first stage) and they claim that was 59 seconds after the last day. They don't have retakes even if you are in the positive 9.85% of the 10%
Also customer service it takes days to answer.
Not recommend.
2 traders have found this review helpful
Serbia, Serbia,
Mar 16, 2023,
Registered user

I passed their funded account challenges and didn't get a funded account.

Service use: Live Length of use: over 1 Year
I had a decent experience with this broker in the past but that has all changed now. I participated in their funded account program, passed both stages and did not get funded account. No valid reason is provided. They broke their own terms and conditions. They seek for bad traders who will fail their funded challenge and lose money, and if someone passes their challenge, they will disqualify that person for no reason. Pure scam!

Sep 25, 2019 - 5 Stars Osprey FX organized live trading contest with sky high prize fund of $160,000 in total. $80,000 went into prize fund of traders contest, and $80,000 went into prize fund of affiliates contest. I am proud winner of traders contest and got an amazing $50,000 for 1st place. Withdrawals went smoothly, and in a few days I got the full amount of $50,000 to my bitcoin wallet and UPayCard account.

Besides this amazing contest Osprey FX has very good trading conditions. Small slippage, tight spreads, low commission of just 3.5$/lot. Execution is excellent also. They have many Cryptocurrencies in their offer besides Forex, Metals, Indices.

Chat support is available 24/7, kind and professional, always there to help. Their stuff work hard to bring improvements on site every week.

Only flaw what I could mention is missing some of commonly used deposit/withdrawal options, like Skrill, Neteller. UPayCard partially covers that, but not completely which could make life of trader bit complicated. Nevertheless, I am sure it is just matter of time when they will have more deposit/withdrawal options.

To sum up: Osprey FX is serious 1st class broker, worthy of attention of every trader, professional and beginner too. They deserve and should be checked out. I stay with them for sure.

Reply by OspreyFX submitted May 27, 2020 Dear client,

Thank you for your kind words and be assured that we are happy to have you aboard with us!

Well done with the contest and keep up with the good work!

Should you be needing any assistance from our side, we’ll be just an email away, eagerly waiting to help if needed and make our clients’ journey as muchhassle-free and user friendly as possible.

Best Regards,
Customer Success Team
Brisbane, Australia,
Sep 26, 2022,
Registered user

Bad service

Service use: Demo Length of use: 0-3 Months
I created an account on Friday as recommended by a youtuber that I though I trusted. Started a demo account and was sent log in details right a way with a not saying this could take 5 minutes which was fine. Anyway 2 days later I still can not access tyhe account and when I log in to the main web page there is still nothing showing in accounts. I have tried to use the support chat which does not work at all, you want me to deposit money with you but you can not get the basics right?
1 trader has found this review helpful
New York, USA,
Jul 3, 2022,

OspreyFX Funded Trader Challenge is fake

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
6 traders have found this review helpful
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.


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

2 traders have found this review helpful
Chad Galvan
Apr 8, 2022,

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.
5 traders have found this review helpful
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
1 trader has found this review helpful
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.
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.
2 traders have found this review helpful

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