OspreyFX Review — The Shady Offshore Broker!

OspreyFX—Is this offshore broker worth your time and money? Is it safe or just another scammer?

To give you a hint, it’s an offshore broker that isn’t regulated by any major body such as the FCA, CFTC, SEC.GOV, or ASIC. Plus, there is lots of negative feedback about this broker online. You know what that means—Osprey FX isn’t a reliable broker. 

Therefore, potential customers need to proceed with caution when it comes to this trading platform. It would be wise to test it first, maybe by depositing strictly the small minimum deposit required to see how it performs and handles withdrawals before committing larger amounts.

Osprey fx login and sign up URL:https://ospreyfx.com/.

Osprey FX has made waves in the online trading industry for a while now. The feedback I’ve read about it isn’t quite promising. Many traders have labelled it a scam despite its: 

• Low minimum deposit requirement.
• Funded accounts offering.
• Availability in many strictly financially regulated jurisdictions such as Canada, Australia, and the UK.

Below is a comprehensive and unbiased Osprey FX review that answers all your questions about this questionable offshore broker. 

Whether you are looking for information about its credibility, background, features, or real user feedback, you’ll find it all here. That way, you’ll be better able to determine whether it’s suitable for you or not. 

OspreyFX Background

Osprey FX reportedly entered the market in 2019 as an offshore broker. The platform allegedly provides a range of trading instruments including:

• Forex
• Cryptocurrencies
• Commodities
• Stocks
• Indices

Osprey Ltd is purportedly the company behind osprey.com. The company is apparently based and registered in St Vincent and the Grenadines(SVG). 

The website, ospreyfx.com has listed Beachmont Business Centre, Suite 4, K001, Kingstown, Saint Vincent and the Grenadines (SVG) as its physical address.

According to user feedback, this is a questionable address that has been linked to several other suspicious trading platforms.

The company has also listed 25288 BC 2019 as its company registration number even though I could not verify it.

Further, Osprey FX provides support@ospreyfx.com as its official email address, stating that it contacts and corresponds with customers only via this email address. 

Notably, Osprey FX is not available for US-based customers just like other questionable trading platforms. It’s also unavailable in Russia, Iran, North Korea, Cuba, Afghanistan, and several others. 

However, it’s apparently available in Canada, Australia, and many European nations.

OspreyFX Leverage Options

The broker apparently offers various leverage options, from 1:20 to 1:500. This supposedly allows traders to control larger positions many times their funds. Those options supposedly depend on the trading instruments in question, such as forex, indices, stocks, and commodities as specified below:

• Forex—up to 1:500.
• Cryptocurrencies—-up to 1:100.
• Indices—up to 1:200.
• Stocks—up to 1:20.
• Commodities(i.e. Metals, energies)—-up to 1:200.

Is Osprey FX a Prop Firm?

Yes, apparently.

OspreyFX claims to offer both traditional brokerage services and prop firm services. 

By the way, prop firm trading arrangements can be fairly tricky to qualify for as a trader because if you lose, the broker loses too. That is why this broker supposedly requires traders to prove their trading skills in a challenging demo trading environment first before qualifying for funded accounts.

Apparently, traders are put through a rigorous trading challenge, and it’s only those who pass it that are accepted into the prop firm arrangement. 

OspreyFX Minimum Deposit

The minimum deposit apparently depends on the payment method used. Customers can make deposits through crypto or credit/debit cards. 

For example, for payments through Bitcoin, Litecoin, Ethereum, Ripple, DogeCoin, Tether (ERC20), Tether (TRC20), and USD Coin, it’s apparently as low as $10, without a maximum deposit.

Meanwhile, credit/debit card deposit fees range between $25 and $50, subject to the third-party credit/debit card provider’s terms and conditions. 

OspreyFX TradingView Integration

One alleged feature I couldn’t overlook in this unbiased Osprey FX review is TradingView integration. For starters, TradingView is basically a technical analysis and charting platform that allows traders to create effective trading strategies by analyzing indicators and charts in real time.

By the way, the OspreyFX TradingView integration is not necessarily a positive signal that this trading platform is credible. After all, TradingView does not regulate brokers. By the way, some customers have noticed questionable offshore brokers, with poor or mixed reputations, integrated with this charting tool. 

How Long Does OspreyFX Withdrawal Take?

The company claims that withdrawals are usually processed within 1–2 business days, depending on the selected withdrawal method. It adds that it supports many methods, including:

• Credit cards.
• Wire transfers.
• Crypto(Bitcoin in particular). This is the quickest method with funds always landing in the client’s wallet within 24 hours after approval. 

By the way, many clients have reported being unable to withdraw funds from OspreyFX, making the platform’s trustworthiness questionable. 

Osprey FX Fees and Charges

NOTES

• “BIT” refers to a unit of measurement for Bitcoin transactions. 1 BIT is equivalent to $0.03.

• Swap fees may be applicable. Contact customer support for more info on these fees. 

• The broker apparently does not charge deposit fees. However, customers may apparently incur charges from third-party payment processing services. 

PROS

• Reasonable leverage options.
• Funded accounts.
• Fast and efficient customer support service.
• TradingView integration.
• Low minimum deposit.

CONS

• An offshore broker who isn’t overseen by major financial authorities, such as the FCA and ASIC.
• Selective successful withdrawals.
• Trading platform manipulation. 
• High bitcoin trading fees and commission.
• Does not accept U.S. traders.
  

User Reviews – What Traders Say About Osprey FX

Here’s what real traders said on Reddit about this seemingly shady broker:

A user going by the name ‘PhoenixStorm1015’ posted the following on the Reddit group “r/CryptoCurrency” four years ago:

Around the same time, another user named ‘shoegamethrilla’ posted on the Reddit group r/Daytrading, as shown in the screenshots below:

From these two accounts, one issue keeps coming out—trading platform manipulation. 

The first user complained that after making a few grand in profit, their trades closed automatically and their balance was nearly wiped out, despite not shorting or setting a stop loss.

Similarly, the second user reported that the platform suspiciously lost connection, preventing him from closing losing trades. He also mentioned that the company later called him using a London-based number, despite its claims of operating in St. Vincent and the Grenadines.

Judging from these two accounts, it appears that OspreyFX may be engaging in trading manipulation.

The broker seems to either make the platform unresponsive when clients are losing, blocking them from closing trades, or suddenly take it offline when the broker is on the losing end, possibly to avoid a payout.

This kind of behavior raises serious concerns about the platform’s integrity and fairness.

Final Thoughts

OspreyFX may appear appealing, thanks to its low minimum deposits, attractive leverage options, and funded account offers.

However, its disturbing user reviews, offshore location, and lack of major regulation raise major red flags. 

Osprey FX is not licensed by credible bodies like the FCA or ASIC, and many users have reported issues ranging from being unable to withdraw funds to platform manipulation by the broker. 

While its TradingView integration might seem to add some credibility to the platform, it doesn’t compensate for the red flags. 

Should you decide to try it, I’d advise you to start small and proceed with extreme caution. 

Report A Scam Website

Have you fallen victim to a scammer? Go to this page, or send an email to scamread@scamreader.info to report the website and seek help. 

OspreyFX Review Disclaimer: This information is provided solely for warning and alert purposes. It highlights major red flags associated with this suspicious trading platform operating out of St Vincent and the Grenadines(SVG). It is based on publicly available information.