OspreyFX Review

OspreyFX Review

This prop firm is different than most because they are an unregulated forex broker based in Saint Vincent and Grenadines. The offshore location provides for up to 500:1 leverage. But they also have a funded trader program with funding capital of up to $200,000. We will be reviewing their funded trader program and not their forex broker business.

About OspreyFX

OspreyFX, which was founded in 2018, is one of the market’s most recognized Forex brokers. But their funded account challenge program only went live on December 30, 2021. They are mostly known as an ECN forex broker that provides online trading of Forex, Cryptos, CFDs, Stocks, and Commodities with complete straight-through processing (STP) execution. The brokerage offers a $25 minimum deposit requirement and flexible leverage of up to 1:500 available.

OspreyFX, as an ECN broker, aggregates liquidity from over 50 different worldwide banks, hedge funds, and dark pool liquidity exchanges. Executable Streaming Prices (ESP) are sent directly from these sorts of liquidity providers to the broker’s platform, where clients can trade in an environment free of a dealing desk, rate manipulation, or re-quotes. As a result, they can provide competitive spreads and transaction execution speeds with low slippage.

Funding Program Options

OspreyFX offers funding of up to $200,000 for traders. However, there is no scaling involved in this program.  So, you will pay the cost based on the total amount of funding.

Their most basic plan is $99 and provides you with funding that is equivalent to $10,000. The total funding amount of $25,000 will therefore cost you $220. $359  for a funding $50,000. $599 for $100,000. And lastly, you may acquire funding of $200,000 for $999.

There is no scaling. The pricing is completely representative of the amount of funding that is offered for the capital. Please keep in mind that these are not instant funding options. This is a challenge account, and the profit share is 70-30.

The programs are straightforward. Similar to other prop firms with challenges. You’ll start with a demo account in stage 1. After you have successfully completed Stage 1, you will go on to Stage 2, which consists of demonstrating your abilities on a different demo account. After you have successfully completed Stage 2, you will get funding for your real account and will then be able to begin trading.

Fees

There has been a decrease in the price for their programs since the last time we reviewed them. These are the latest prices they offer.

The fees for OspreyFX funded trader accounts are:

• $25,000 account for $220
• $50,000 account for $359
• $100,000 account for $599
• $200,000 account for $$999

The prices are not too different from most prop firms.

Tradable Assets

OspreyFX offers over 55 forex currency pairs, 30 cryptocurrencies, and 125 stock index, precious metals, and commodities CFDs. In total, about 200 assets.

Restrictions

You can hold positions overnight, during weekends, and trade news. You can also use EA, copiers, and hedge.

Challenge

OspreyFX prop firm challenge is similar to other prop firms. It is a 2 step evaluation process. In stage 1, you need to hit a 10% profit target in 30 days. Their maximum loss is only 12 percent, which is significantly better. On the other hand, their maximum loss each day is capped at 5 percent. After you have successfully completed this step, you will proceed to the next stage.

In stage 2, the profit objective is 8%, but you have 60 days to accomplish that target with the same maximum and daily loss. Stage 2 also has the same profit target. When you have successfully completed step 2, you will be given access to your funded live account.

Even with the funded account, the maximum loss, which is currently set at 12 percent, and the daily loss, which is currently set at 5 percent, will not change. The profit share is seventy percent for you, and you are paid weekly.

In Conclusion

OspreyFX started as an ECN forex broker in 2018 and opened its funded trader business a few years later in 2021. Although their prop firm is quite new, they have been in this industry for a while. The best part about OspreyFX is that they don’t have restrictions. Their rules are very flexible. Traders can hedge, scalp, and trade during news events. You can utilize any third-party copiers on their broker’s MT4 or MT5 platforms. But you’d have to complete their challenge before becoming a funded trader with them.

Another thing with OspreyFX is that you can create an Islamic account with them. It applies to every trader. Neither interest charges nor payments are required when dealing with Islamic trading accounts.

Lastly, they offer a trading competition where the top prize is a $10,000 live funded account, which is great. If you want to show the world that you are the best trader, all you have to do is join up right now. Put your abilities to the test, make the most profits, and take home the top reward. Signing up is really simple. Access your OspreyFX Funded Account Portal by Registering or Signing In. Go to the tab labeled “Competitions” and register. And with that, you’re all set to take part in the tournament; the winner will be determined by who generates the most profit.

OspreyFX Coupon Code

If you are interested in joining OspreyFX, be sure to use our exclusive coupon code for a huge 20% discount: FT20