
OspreyFX Review
Overall, OspreyFX is considered competitive on all its trading pairs and can be summarised as a trustworthy, low-risk trading broker. OspreyFX is regulated by the Capital Markets Authority (CMA) in Kenya. OspreyFX has a Trust Score of 63% out of 100. Osprey FX is currently not regulated by the CMA of Kenya
- Louis Schoeman
Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ
Min Deposit
USD 25 / 2915 KES
Regulators
Not Regulated
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
yes
Trading Fees
Low
Account Activation Time
24 Hours
OspreyFX Review – 21 key points quick overview:
- ✅ OspreyFx Overview
- ✅ OspreyFX At a Glance
- ✅ Regulation and Safety of Funds
- Account Types and Features
- Account Registration
- OspreyFX Vs AvaTrade Vs FXCM – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- How to Deposit Funds with OspreyFx
- OspreyFx Fund Withdrawal Process
- Education and Research
- Bonuses and Promotions
- How to open an Affiliate Account with OspreyFx
- OspreyFx Affiliate Program Features
- OspreyFx Corporate Social Responsibility
- Verdict on OspreyFx
- OspreyFX Pros and Cons
- FAQ
OspreyFx Overview
👉 Overall, OspreyFx is considered high risk, with an overall Trust Score of 63 out of 100. OspreyFx is licensed by zero Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust). OspreyFx offers four different retail trading accounts namely a Standard Account, PRO Account, VAR Account, and Mini Account.
👉 OspreyFx is a forex broker using electronic communications networks (ECNs) that provides online trading in Forex, Cryptocurrencies, CFDs, Stocks, and Commodities with complete straight-through processing (STP) execution. A minimum deposit of $25 is required, and the brokerage offers leverage of up to 1:500.
👉 OspreyFx aggregates liquidity from over 50 different worldwide banks, hedge funds, and dark pool liquidity exchanges as an ECN broker.
👉 Executable Streaming Prices (ESP) are sent directly to the broker platform from various sorts of liquidity providers, allowing customers to trade in an environment free of a dealing desk, rate manipulation, or re-quotes. Subsequently, OspreyFx can provide cheap spreads and fast transaction execution with low slippage.
👉 This OspreyFx review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with OspreyFx is as follows:
➡️ United States – 57.6%
➡️ France – 3.3%
➡️ Brazil – 2.9%
➡️ Barbados – 2.9%
➡️ Italy – 2.9%
Popularity among traders who choose OspreyFx
🥇 OspreyFx does not have a large market share in Kenya, but the broker falls within the Top 100 brokers for Kenyan traders.
OspreyFX At a Glance
🏛 Headquartered | Saint Vincent and the Grenadines |
⚖️ Local Market Regulator in Kenya | Capital Markets Authority (CMA) |
💰 Foreign Direct Investment in Kenya | 1.3% of the overall GDP |
💸 Foreign Exchange Reserves in Kenya | 8.2 billion USD |
🏛 Local office in Nairobi? | No |
⚖️ Governor of SEC in Kenya | None |
✔️ Accepts Kenyan Traders? | Yes |
🗓 Year Founded | 2019 |
📞 Kenyan Office Contact Number | None |
📱 Social Media Platforms | • Facebook • Telegram |
⚖️ Regulation | None |
1️⃣ Tier-1 Licenses | None |
2️⃣ Tier-2 Licenses | None |
3️⃣ Tier-3 Licenses | None |
🪪 License Number | None |
⚖️ CMA Regulation | No |
❌ Regional Restrictions | None indicated |
☪️ Islamic Account | Yes |
💻 Demo Account | Yes |
🛍 Retail Investor Accounts | 4 |
✔️ PAMM Accounts | None |
💧 Liquidity Providers | More than 50 banks |
💰 Affiliate Program | Yes |
💻 Order Execution | Market |
📊 Starting spread | From 0.4 pips EUR/USD |
💰 Minimum Commission per Trade | From $1 |
💸 Decimal Pricing | Up to 5 digits after comma |
📞 Margin Call | 100% |
🛑 Stop-Out | 70% |
💰 Minimum Trade Size | 0.01 lots |
💵 Maximum Trade Size | 1000 lots |
✔️ Crypto trading offered? | Yes |
✔️ Offers a KES Account? | No |
👥 Dedicated Kenyan Account Manager? | No |
📈 Maximum Leverage | 1:500 |
📋 Leverage Restrictions for Kenya? | No |
💰 Minimum Deposit (KES) | 2,800 KES or an equivalent to $25 |
✔️ Kenyan shilling Deposits Allowed? | No |
👥 Active Kenyan Trader Stats | 70,000+ |
🤝 Active Kenyan-based OspreyFX customers | Unknown |
💰 Kenya Daily Forex Turnover | $100 million+ |
💵 Deposit and Withdrawal Options | • Credit Card • Debit Card • Crypto Wallets • PayRedeem |
⏰ Minimum Withdrawal Time | Instant |
🕙 Maximum Estimated Withdrawal Time | Up to 3 hours |
✔️ Instant Deposits and Instant Withdrawals? | Yes |
🏧 Segregated Accounts with Kenyan Banks? | No |
💻 Trading Platforms | • MetaTrader 4 • MetaTrader 5 |
💵 Tradable Assets | • Forex • Indices • Commodities • Cryptocurrencies • Precious Metals • Stocks • Energies • US Dollar Futures |
✔️ Offers USD/KES currency pair? | No |
📊 USD/KES Average Spread | N/A |
✔️ Offers Kenyan Stocks and CFDs | None |
🗣 Languages supported on the Website | English |
📞 Customer Support Languages | English and Spanish |
✔️ Copy Trading Support | No |
⏰ Customer Service Hours | 24/5 |
🧑💻 Kenyan-based customer support? | No |
💰 Bonuses and Promotions for Kenyans | Yes |
📚 Education for Kenyan beginners | Yes |
✔️ Proprietary trading software | No |
🥇 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
✔️ Is OspreyFX a safe broker for Kenyans? | No, the lack of regulation makes it risky |
🥇 Rating for OspreyFX Kenya | 4/10 |
🎖 Trust score for OspreyFX Kenya | 63% |
👉 Open Account | 👉 Open Account |
Regulation and Safety of Funds
👉 OspreyFx is an offshore broker based in St. Vincent and the Grenadines that was founded in 2019. Neither the broker nor any government or non-government agency has jurisdiction over the company. This means that if something goes wrong, there will be only a limited amount of protection in place.
👉 Customers’ monies are maintained in a separate bank account from OspreyFx’s own funds and assets, according to the company. They can rapidly and precisely tell the difference between monies belonging to one customer and those belonging to another, as well as between those belonging to the brokerage.
👉 When it comes to risk, OspreyFx takes every precaution to ensure that its day-to-day operations are safe. This includes monitoring the effectiveness of the policies and procedures they implement regularly. With this, they may meet their whole financial and capital demands.
Account Types and Features
👉 OspreyFx offers Kenyan traders a choice between four trading account types namely:
➡️ Standard Account
➡️ PRO Account
➡️ VAR Account
➡️ Mini Account
👉 The minimum deposit requirements, spreads, and commission prices differentiate the accounts. The trader’s choice between accounts will depend on their unique trading strategy and how much they wish to invest.
👉 For short-term trading, PRO accounts are more popular, whereas long-term traders prefer the lower commissions of the lower-cost account. OspreyFx does not impose any volume restrictions, which is a boon for high-volume traders. Scalping, news trading, hedging, and other kinds of leveraged trading are all accepted by the broker.
👉 Because of the two-step authentication method in place, OspreyFx accounts are protected against both unauthorized access to trade data and other data breaches.
Live Trading Accounts
👉 Regardless of the trading account that is being utilized, Kenyan traders may anticipate the following account features:
➡️ Micro-lot trading
➡️ Margin call of 100% and stop-out of 70%
➡️ Maximum Trade Size of 1,000 lots
➡️ Maximum leverage up to 1:500
➡️ The ability to trade 31 cryptocurrencies, 37 stocks, 55 forex pairs, 9 indices, 9 commodities
➡️ ECN or STP trading models
➡️ Market trade execution
➡️ MetaTrader 4 and MetaTrader 5 across different devices
➡️ The option for an Islamic Account
Standard Account
👉 All traders, regardless of their expertise or goals, may benefit from this account.
Account Feature | Value |
💰 Minimum Deposit | 5,700 KES or equivalent to $50 |
📊 Average Spread | From 0.8 pips EUR/USD |
💵 Commissions charged on trades | From $7 |
📈 Forex Pairs offered | 55 |
PRO Account
👉 This is a more premium account type that is suitable for more advanced Kenyan traders.
Account Feature | Value |
💰 Minimum Deposit | 47,800 KES or equivalent to $500 |
📊 Average Spread | From 0.4 pips EUR/USD |
💵 Commissions charged on trades | From $8 |
📈 Forex Pairs offered | 55 |
VAR Account
👉 Traders who prefer tight spreads and commission-free trading should consider the VAR Account.
Account Feature | Value |
💰 Minimum Deposit | 28,900 KES or equivalent to $250 |
📊 Average Spread | From 1.2 pips EUR/USD |
💵 Commissions charged on trades | None |
📈 Forex Pairs offered | 55 |
Mini Account
👉 There are lower minimum deposits and fewer chances of losing money with the Mini Account. With this account, novice traders and those experimenting with new techniques may get their feet wet in the market.
Account Feature | Value |
💰 Minimum Deposit | 2,800 KES or an equivalent to $25 |
📊 Average Spread | From 1 pip |
💵 Commissions charged on trades | From $1 |
📈 Forex Pairs offered | 29 |
Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and OspreyFx offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 All currency pairs and products offered by OspreyFx are Sharia-compliant. Trading in OspreyFx’s Islamic Trading Account is possible with any of the available currency pairs and instruments. All OspreyFx clients benefit from the availability of an Islamic Account.
👉 However, the goal is to provide a safe environment for those who must directly adhere to Sharia Law.
Account Registration
👉 Kenyan traders must complete an online application form on the broker’s official website to open an OspreyFx trading account. During a KYC process, customers will be asked to provide personal, financial, and work information, as well as have their identity confirmed.
👉 Uploading a copy of a legitimate passport or driver’s license will do the trick. A bank statement or utility bill that is not more than three months old may also be used to verify a Kenyan trader’s domicile.
👉 Once a member of the OspreyFx accounts team has authorized the trading account, Kenyans may begin trading online. It is the broker’s goal to get all trading accounts approved on the same business day, however, this might be delayed if many new accounts are being registered.
OspreyFX Vs AvaTrade Vs FXCM – Broker Comparison
🥇 OspreyFX | 🥈 AvaTrade | 🥉 FXCM | |
⚖️ Regulation | None | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | FCA, ASIC, CySEC, FSCA |
📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade | • Trading Station • MetaTrader 4 • NinjaTrader • ZuluTrade • Capitalise AI • TradingView Pro • QuantConnect • MotiveWave • AgenaTrader • Sierra Chart • SeerTrading • NeuroShell Trader |
💸 Withdrawal Fee | No | No | Yes, bank wire |
💻 Demo Account | Yes | Yes | Yes |
💵 Min Deposit | 2,800 KES | 11,400 KES | 5,700 KES |
📊 Leverage | 1:500 | 1:400 | • 1:30 (FCA) • 1:400 (Other Reg) |
📊 Spread | From 0.4 pips | Fixed, from 0.9 pips | From 0.2 pips EUR/USD |
💰 Commissions | From $1 | None | $25 per $1m traded |
🛑 Margin Call/Stop-Out | 100%/70% | 25%/10% | 100%/50% |
💵 Order Execution | Market | Instant | Market |
💰 No-Deposit Bonus | No | No | No |
💵 Cent Accounts | No | No | No |
💻 Account Types | • Standard Account • PRO Account • VAR Account • Mini Account | • Standard Live Account • Professional Account Option | • Spread Betting • CFD Trading • Active Trader • Professional Trader |
⚖️ CMA Regulation | No | No | No |
💸 KES Deposits | No | No | No |
💰 Kenyan shilling Account | No | No | No |
📞 Customer Service Hours | 24/7 | 24/5 | 24/6 |
🛍 Retail Investor Accounts | 4 | 1 | 3 Retail, 1 Pro |
☪️ Islamic Account | Yes | Yes | Yes |
💵 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
📈 Maximum Trade Size | 1,000 lots | Unlimited | 50 million per trade on Forex |
⏰ Minimum Withdrawal Time | Instant | 24 to 48 Hours | Instant |
💻 Maximum Estimated Withdrawal Time | Up to 3 hours | Up to 10 days | Up to 2 working days |
💵 Instant Deposits and Instant Withdrawals? | Yes | No | Yes |
Trading Platforms
👉 OspreyFx offers Kenyan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
👉 MetaTrader 4 (MT4), developed by Russian software company MetaQuotes, is the trading platform utilized by OspreyFx to link consumers to the actual ECN market. MT4’s user interface is well-known for being simple to use and entirely customisable. For a wide range of merchants, it includes an extensive set of features and functionalities. Desktop PCs running Linux, Windows, or macOS may use MetaTrader 4.
👉 Many novices choose it because of its easy learning curve, but it has enough sophistication to fulfill the needs of experienced investors as well.
MetaTrader 5
👉 MetaTrader 5 is a multi-asset platform that may be used to trade Forex, Stocks, and Commodities. Research tools, algorithmic trading, and copy trading via robots are all available in this comprehensive platform (Expert Advisors).
👉 Multi-asset traders all around the world depend on MetaTrader 5 to give their trading a leg up on the competition. Additionally, the MetaTrader 5 trading platform supports all types of trade orders and execution modes, as well as an improved Market Depth feature.
👉 As many as 100 financial products may be monitored at once by Kenyan traders using the platform’s charting features.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
👉 Trading using MetaTrader 4 and MetaTrader 5’s WebTrader is convenient since it does not need downloading or installing any software.
👉 All these features, together with a tick chart and trading history, as well as market and pending orders and swift execution, are offered by MetaTrader platforms and may help traders become more versatile.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
👉 Mobile versions of MetaTrader 4 and MetaTrader 5 are available for use on a range of smart devices, including iPhone/iPad and Android smartphones, so Kenyan traders may trade the financial markets from anywhere in the world with an internet connection.
👉 The mobile trading platform provides traders with technical indicators and graphical features to conduct trading operations and evaluate currency quotes.
Range of Markets
👉 Kenyan traders can expect the following range of markets from OspreyFx:
➡️ Forex
➡️ Indices
➡️ Commodities
➡️ Cryptocurrencies
➡️ Precious Metals
➡️ Stocks
➡️ Energies
➡️ US Dollar Futures
Broker Comparison for Range of Markets
🥇 OspreyFX | 🥈 FXCM | 🥉 AvaTrade | |
➡️ Forex | Yes | Yes | Yes |
➡️ Precious Metals | Yes | Yes | Yes |
➡️ ETFs | No | No | Yes |
➡️ CFDs | Yes | Yes | Yes |
➡️ Indices | Yes | Yes | Yes |
➡️ Stocks | Yes | Yes | Yes |
➡️ Cryptocurrency | Yes | No | Yes |
➡️ Options | No | No | Yes |
➡️ Energies | Yes | Yes | Yes |
➡️ Bonds | No | No | Yes |
Trading and Non-Trading Fees
Spreads
👉 Based on the kind of account a trader has with OspreyFx, typical spreads may be found as follows:
➡️ Standard Account – from 0.8 pips EUR/USD
➡️ PRO Account – from 0.4 pips EUR/USD
➡️ VAR Account – from 1.2 pips EUR/USD
➡️ Mini Account – from 1 pip
Commissions
👉 OspreyFx charges different commissions for different trading accounts as follows:
➡️ Standard Account – from $7
➡️ PRO Account – from $8
➡️ Mini Account – from $1
Overnight Fees, Rollovers, or Swaps
👉 When Kenyan traders maintain a long position overnight, they are maintaining an open purchase position. When traders maintain a short position overnight, they are maintaining a sell position.
👉 Traders may use the following calculation to determine the long and short swap fees:
➡️ Long Swap – One point x Trade Size x Swap Long in Points
➡️ Short Swap – One point x Trade Size x Swap Short in Points
👉 Every instrument’s overnight costs can be found on the trading platform, giving Kenyans an indication of the fees that they could expect. The 3x swap fee day might vary per instrument and at the discretion of OspreyFx, which traders should be aware of.
Min Deposit
USD 25 / 2915 KES
Regulators
Not Regulated
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
yes
Trading Fees
Low
Account Activation Time
24 Hours
Deposits and Withdrawals
👉 OspreyFx offers the following deposit and withdrawal methods:
➡️ Credit Card
➡️ Debit Card
➡️ Crypto Wallets
➡️ PayRedeem
Payment Methods, Minimum and Maximum Deposit, and Withdrawal Amounts
💵 Payment Method | 💰 Min Deposit | 💳 Min Withdrawal | 💸 Max Deposit | 💳 Max Withdrawal |
Credit Card | $25 to $500 | None | None | None |
Debit Card | $25 to $500 | None | None | None |
Crypto Wallets | $25 to $500 | $50 | None | None |
PayRedeem | $25 to $500 | $10 | None | None |
How to Deposit Funds with OspreyFx
👉 To deposit funds to an account with OspreyFx, Kenyan traders can follow these steps:
➡️ Log into the trading account
➡️ Select the “Deposit Funds” option
➡️ Choose a payment method and follow the instructions per the payment provider
OspreyFx Fund Withdrawal Process
👉 To withdraw funds from an account with OspreyFx, Kenyan traders can follow these steps:
➡️ Sign into your account
➡️ Navigate to the “Withdrawal” section
➡️ Choose a payment method and follow the additional instructions
➡️ Provide a withdrawal amount
➡️ Confirm and submit the withdrawal request
Education and Research
👉 OspreyFx offers the following Educational Materials:
➡️ The best way to learn forex trading
➡️ The basics of precious metals trading
➡️ Benefits and risks of a demo account versus a live trading account
➡️ Guide to Short-selling
➡️ How to prepare a forex news calendar and more
👉 OspreyFx offers Kenyan traders the following Research and Trading Tools:
➡️ Trading Hours
➡️ Forex Calculators
Bonuses and Promotions
👉 OspreyFx is holding a trading competition in the early spring, with a total prize pool of $2,000 up for grabs. Traders must open a live account, deposit at least $50, and make a transaction to participate in the tournament.
👉 Kenyans can win one of three reward levels, as follows:
➡️ 1st prize – $1,000
➡️ 2nd prize – $600
➡️ 3rd prize – $400
Min Deposit
USD 25 / 2915 KES
Regulators
Not Regulated
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
yes
Trading Fees
Low
Account Activation Time
24 Hours
How to open an Affiliate Account with OspreyFx
👉 Kenyans can navigate to the OspreyFx website and select “Affiliates” from the main toolbar on the homepage and select “Affiliate Program.” Prospective affiliates can select the option to sign up and become an affiliate to load the application form.
👉 Once the application form has loaded, Kenyans can complete the Basic Information, Email Verification, and final details before they submit the form to the Osprey Affiliate team.
OspreyFx Affiliate Program Features
👉 To help affiliates grow their businesses, OspreyFx combines innovative technology, design, and the greatest marketing. merchants may anticipate the following advantages when they sign up as an OspreyFx affiliate.
➡️ Every trader who is recommended to the broker will get weekly commissions that have no limit.
➡️ Access to the affiliate portal, referral trading, and other features is available round-the-clock through a single user interface.
➡️ Access to marketing resources that help affiliates design unique campaigns and provide them with the tools to see leads easily convert.
➡️ Fast and transparent payments as well as access to comprehensive reporting options, transparent data, and more.
➡️ In addition, detailed statistics enable affiliates to follow introduction brokers and to create customized reports, which helps affiliates to boost their total earning potential.
➡️ Kenyan affiliates can work with affiliate experts who may provide material and other assistance to affiliates as they work to grow their businesses.
OspreyFx Corporate Social Responsibility
👉 There is currently no information offered on the Corporate Social Responsibility of Osprey.
Verdict on OspreyFx
👉 Trading with OspreyFx is easy thanks to the MetaTrader platform, the wide variety of trading products, and a wide choice of account options.
👉 You may buy and sell a wide variety of cryptocurrencies on their exchange, and they also make it easy to finance your Bitcoin purchases. Market news and insights are often updated by them and are helpful.
👉 However, OspreyFx is not considered a safe option for Kenyans because the broker is not regulated by any known or trusted market regulators, which means that client fund security is not guaranteed and Kenyans may not be protected if there are any disputes, or if the broker cannot fulfil its financial obligations.
OspreyFX Pros and Cons
✔️ Pros | ❌ Cons |
OspreyFx offers both MetaTrader 4 and 5 | Unregulated broker |
There are flexible account types offered | There is no KES-denominated account or deposit currencies |
There is a low minimum deposit requirement | |
There are competitive commission fees that are according to the account tier | |
There is a decent selection of cryptocurrency instruments | |
Bitcoin funding is possible | |
There are a few educational resources offered | |
Instant deposits and withdrawals are offered |
FAQ
Is OspreyFx regulated and by whom?
No, OspreyFx is not currently regulated or licensed by any market regulators.
Is OspreyFx a safe broker?
No, OspreyFx is currently not considered a safe broker because of its low trust score of 63 out of 100. While OspreyFx is not a scam or fake broker, the lack of regulation may deter Kenyan traders from dealing with the broker.
What is the minimum deposit that I will pay with OspreyFx?
The minimum deposit with OspreyFx starts from 2,800 KES or an equivalent to $25.
Does OspreyFx offer social trading?
No, OspreyFx does not support social trading platforms and does not offer any social trading opportunities.
What is the overall rating for OspreyFx?
We give OspreyFx an overall rating of 4/10. This low rating is attributable to the broker’s lack of regulation and therefore low trust score. While OspreyFx offers comprehensive trading solutions, a choice of accounts, and powerful trading software, regulatory status is a component that cannot be overseen or ignored.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.