Who Are Osprey FX?
Osprey FX has emerged as a leader in the world of online trading, boasting a global presence and a robust feature set that caters to all types of traders. This review will delve into the details, outlining what sets this platform apart in a highly competitive prop firms market.
Osprey FX was established with a clear vision: to bridge the gap between retail and institutional clients in the world of trading. Operating with a Straight-Through Processing (STP) model, Osprey FX has been successful in delivering swift, fair, and transparent trade executions. This is particularly beneficial for active traders and those who have ventured into the realm of funded trading accounts.
- Explore any trading strategy you prefer with no limitations
- Access a wealth of free educational content to enhance your trading skills
- Enjoy 24/7 customer support to assist you anytime
- Experience seamlessly user-friendly trading platforms and apps
- Utilize empowering trading tools that actually make a difference
- Get a $1000 bonus to your account when you pass the challenge
- Traders from the USA cannot be accommodated at the moment
- Their offerings have a slight limitation on non-fx instruments
- Operating without direct regulation at the current time
Funding Program Options
Evaluation Program Accounts
OspreyFX’s evaluation program account is designed to identify and reward skilled traders who demonstrate consistency during the two-phase evaluation period. Traders in the evaluation program are granted the opportunity to trade with a leverage of 1:100.
During phase one of the evaluation, traders must achieve a profit target of 10% while ensuring that their daily losses do not exceed 5% or their overall losses do not surpass 12%. This profit target must be reached within 30 calendar days from the initiation of the first position on their evaluation account. Additionally, a minimum of 10 trading days is required before advancing to phase two.
In phase two, traders are tasked with reaching a profit target of 8% within 60 calendar days from the day they place their first position on the evaluation account. As in phase one, they must adhere to the 5% maximum daily loss and 12% maximum loss rules. Like before, a minimum of 10 trading days is required to progress to a funded account.
Upon successful completion of both evaluation phases, traders are awarded a funded account, which no longer requires them to meet profit targets. Instead, they must only abide by the 5% maximum daily loss and 12% maximum loss rules. The first payout from the funded account is issued within 7 calendar days from the initiation of the first position, followed by subsequent weekly payouts. Traders are entitled to a profit split of 70% based on the profits they generate on their funded account.
Notably, the evaluation program accounts do not have a scaling plan in place.
The program is governed by several important rules:
- Profit Target: Traders must achieve specific profit percentages before completing an evaluation phase, withdrawing profits, or scaling their account. Phase 1 has a profit target of 10%, and phase 2 has a target of 8%. Funded accounts do not have profit targets.
- Maximum Daily Loss: All account sizes are subjected to a maximum daily loss of 5%, meaning traders should not exceed this limit in daily losses.
- Maximum Loss: Traders are also limited to a maximum overall loss of 12% on all account sizes.
- Minimum Trading Days: Traders must engage in a minimum number of trading days before completing an evaluation phase or making a withdrawal. Both evaluation phases require a minimum of 10 trading days, while funded accounts have no such requirement.
- Maximum Trading Days: There are specific time limits to achieve profit targets or withdrawal targets. Phase 1 allows a maximum of 30 trading days, and phase 2 allows a maximum of 60 trading days.
- Consistency Rule: Traders are expected to maintain consistency in their position sizes, risk management, gains, losses, etc. The profits earned on their best trading day should not exceed 30% of the overall profit target.
What Sets OspreyFX Apart from Other Proprietary Trading Firms?
When it comes to proprietary trading firms, OspreyFX sets itself apart in several key ways, catering to the needs and preferences of traders, making it stand out among the competition.
- Freedom in Trading Style: Unlike many other prop firms, OspreyFX offers traders significant flexibility in their trading approach. Traders are almost never restricted in their trading style, allowing them to make decisions based on their own strategies and preferences. This means you can trade during news events, hold positions overnight, and even trade over the weekends without facing unnecessary limitations.
- Two-Phase Evaluation Program: OspreyFX’s evaluation program is structured in two phases, creating a more comprehensive and rigorous evaluation process for potential traders. Traders must successfully complete both phases to become eligible for payouts and to qualify for a funded account. This ensures that traders who make it through the evaluation program have demonstrated consistent trading performance.
- Profit Targets and Risk Management Rules: The evaluation program’s profit targets of 10% in phase one and 8% in phase two may be higher compared to some other prop firms. However, this is balanced by the fact that traders are provided with a competitive 1:100 leverage to enhance their trading potential. The risk management rules, including the 5% maximum daily loss and 12% maximum loss, help protect traders from significant drawdowns.
- Minimum Trading Day Requirements: OspreyFX’s evaluation program requires traders to meet a minimum trading day requirement in both phases, which is set at 10 days. This provides traders with ample time to showcase their trading skills and consistency, ensuring that the evaluation process is thorough and reliable.
- Consistency Rule: One of the unique aspects of OspreyFX’s evaluation program is the “consistency rule.” Traders are expected to maintain consistency in various aspects of their trading, including position sizes, risk management, gains, and losses. This rule fosters a disciplined and balanced trading approach, helping traders to avoid excessive risks and focus on steady, reliable performance.
- No Scaling Plan: Unlike some other proprietary trading firms, OspreyFX’s evaluation program does not incorporate a scaling plan. While this may not be ideal for traders seeking aggressive scaling opportunities, it provides a transparent evaluation process that is solely focused on a trader’s performance within the two evaluation phases.
OspreyFX stands out from other proprietary trading firms by offering traders the freedom to trade with their preferred style, a two-phase evaluation program with high-profit targets and risk management rules, a minimum trading day requirement, and a focus on consistency. This comprehensive approach ensures that only serious and talented traders are rewarded with a funded account, and it allows traders to excel in a supportive and competitive trading environment. If you’re looking for a prop firm that values your unique trading approach and provides an opportunity to prove your skills through a robust evaluation process, OspreyFX is definitely worth considering.
Is Getting Funded on OspreyFX Realistic?
If you’re a forex trader looking for a prop firm that offers realistic funding opportunities, OspreyFX stands out as an excellent choice. When evaluating whether getting funded on OspreyFX is realistic, it’s crucial to consider several factors that directly impact your chances of success.
OspreyFX’s evaluation program accounts have profit targets of 10% in phase one and 8% in phase two. While these profit targets may seem slightly higher compared to some other prop firms, they are attainable with dedicated trading strategies and consistent performance. The key here is to demonstrate your trading skills and achieve steady growth over the evaluation period.
On the flip side, OspreyFX implements risk management rules to protect traders from excessive losses. The maximum daily loss is set at 5%, meaning you cannot lose more than 5% of your account balance in a single trading day. Additionally, the maximum overall loss allowed is 12%, ensuring that you are safeguarded against significant drawdowns. These rules are in place to promote responsible trading and protect traders from potential wipeouts.
Considering these aspects, getting funded on OspreyFX is indeed realistic. The evaluation program accounts provide traders with well-balanced trading objectives and achievable conditions to receive payouts. If you can consistently trade within the set parameters, meet the profit targets, and abide by the risk management rules, you stand a good chance of being awarded a funded account.
OspreyFX’s approach is grounded in fostering trader success. They don’t burden traders with unrealistic demands of astronomical gains in a short period with minimal drawdowns. Instead, they provide a fair evaluation process that rewards traders who demonstrate skill, discipline, and consistent performance.
As you explore different prop firms, it’s crucial to assess whether their requirements align with your trading style and risk tolerance. While some companies may offer high-profit splits, their demanding trading objectives could make success nearly unattainable. In contrast, OspreyFX strikes a balance between challenging but achievable profit targets and risk management measures, increasing your odds of succeeding in the evaluation program and getting funded.
Security is paramount when it comes to online trading, and Osprey FX has placed a significant emphasis on ensuring its platform is secure. The broker employs rigorous security measures, including two-factor authentication and encrypted data transmission, giving peace of mind to traders with funded trading accounts.
Osprey FX underscores the importance of trader education by providing a host of educational resources. These resources range from in-depth trading guides and webinars to market analysis reports, all designed to enhance traders’ understanding of the market dynamics. This commitment to continuous learning is particularly useful for traders of funded trading accounts, who can use these insights to make more informed trading decisions.
Osprey FX Customer Support and Help
At the heart of Osprey FX’s operation is a commitment to stellar customer support. The broker has a dedicated team of experienced professionals available 24/7 to assist traders via live chat, email, and phone, ensuring prompt and efficient support. This is especially beneficial for traders managing funded trading accounts, who often require swift assistance to resolve any issues that may arise during trading.
Social Media Profiles
Osprey FX can also be found on the following social media profiles
- Instagram profile with 39,3k followers
- Twitter account with 9,329 followers
- Discord channel has 314 members
- Telegram channel has 508 subscribers
- Facebook page with 1,200 followers
Osprey FX Trust Pilot Reviews
Osprey FX has a received great customer feedback from its traders on Trust Pilot. With an overall score of 3.8 out of 5 from 99 reviews.
Conclusion
In conclusion, Osprey FX presents itself as a robust and versatile trading platform, adept at catering to both novice and experienced traders, including those handling funded trading accounts. With a broad range of tradable instruments, advanced trading technology, competitive trading conditions, stringent security measures, comprehensive educational resources, and top-notch customer
FAQs
Osprey FX is indeed an offshore broker, and it’s important to note that it is not currently regulated by any financial authority in any jurisdiction. However, Osprey FX emphasizes its commitment to strict KYC (Know Your Customer) procedures and the security of clients’ funds and data. While regulatory oversight can provide an additional layer of protection, traders should carefully consider the implications of trading with an unregulated broker and conduct thorough due diligence before opening an account.
Withdrawals from Osprey FX, particularly through wire transfers, may take up to 6 days to reach your nominated bank account. However, it’s worth noting that Osprey FX aims to process withdrawal requests on its end within 1 business day. The actual time for withdrawals can vary depending on factors such as your bank’s processing times and the withdrawal method you choose.
Traders who successfully complete Osprey FX’s two-phase evaluation program and are awarded a funded account are entitled to a profit split of 70%. This means that 70% of the profits generated on the funded account are retained by the trader, while the remaining 30% is retained by Osprey FX as part of the profit-sharing arrangement.
Osprey FX’s primary focus is on its evaluation program and providing traders with funded accounts based on their performance in the program. As of my last update in September 2021, there was no specific mention of copy trading being offered by Osprey FX. You may want to check with the broker directly or review their most recent offerings for any updates on copy trading features.
Osprey FX implements risk management rules to protect traders from excessive losses. The maximum daily loss allowed on all account sizes is set at 5%, meaning traders should not incur more than a 5% loss in a single trading day. Additionally, there is a maximum overall loss limit of 12% on all account sizes. These rules are designed to help traders manage risk and prevent significant drawdowns that could jeopardize their accounts.
