OspreyFX Review- fresh brokerage in the industry
OspreyFX forex broker is a new brokerage company that was founded in 2019 and is registered in St. Vincent and the Grenadines. They don’t have a big experience in this industry yet but still, they offer some important services including Forex, Crypto, and CFDs trading for people from different parts of the world. They claim to have low spreads and high leverage. Because they just started operating in the financial markets, there are very few reviews and client feedback about the company. Probably this is the reason why many start to hesitate whether OspreyFX is really a trustworthy company or not.
The country where the company is located gives brokerage companies a chance to get a license way more easily than in the other countries, especially in Europe. So, the fact that the company still doesn’t have any kind of authorization or the license gives people a valid doubt that the scam is real. However, their offering to the consumers is quite generous so in this OspreyFX Review, we will discuss all the other worthwhile features this company has.
It’s important to note that the company has only one account type to offer for their clients. The minimum deposit is 10 USD and the maximum leverage is 1:500. Besides, the company is very proud of its extremely low spreads from 0.1 pips.
In terms of the OspreyFX Accounts, as we have already mentioned, it has only one type and its ECN account on the MT4 platform. The account has four sections: Standard, PRO, VAR, and Mini. We can see on the company’s website that each section has recommended minimum deposits, which is:
- Standard- 50 $
- PRO 500 $
- VAR 250 $
- Mini 25$
As it seems, Osprey FX offers their services not only to professionals but to beginner traders as well. Osprey FX uses one of the most popular platforms MT4 which makes all these things possible. MT4 has a comfortable interface and flexible features that satisfy every kind of crypto lovers’ needs.
In addition, Osprey FX offers their clients News and updates section where they write the recent Forex and Crypto news and other financial stories that might catch people’s attention. There are various types of articles about different topics from all over the world. However, the brokerage doesn’t have any further educational materials, resources, or videos. We recommend the company to add them as it would be very beneficial for the OspreyFX’s future development.
OspreyFX withdrawals & Fees
OspreyFX writes on their website that their withdrawal fee is 25 USD. They use the Wire Transfer method which requires about 6 days until it is processed. The company also says that there are no fees on deposits while using debit card payments or in the case of Bitcoin depositing. According to the OspreyFX forex brokerage, there might be other fees while using alternative methods of payment, however, it is incomprehensible what exactly those other methods are.
The company’s withdrawals time period is the following:
- Credit Card: 3-6 business days
- Bank Transfer/ Wire: 3-6 business days
- Bitcoin: 1-3 hours
For some people, this time period might seem too long as the other brokerage companies offer faster ways to withdraw money.
OspreyFX is a freshly founded company in the financial market that is trying to catch up with the modern standards of the industry. Even though the brokerage doesn’t have a big experience in this field yet, they still offer customers some important services that are essential for not only beginners but professionals as well. So, despite some disadvantages, this company has a big for the future so we recommend them for all kinds of crypto world members.