Osprey FX (Ospreyfx.com) is a CFDs and Forex scam broker to hit the lucrative Forex world. OspreyFX is claiming to be the best Forex broker thanks to their lightening execution speed. Offers they give to anyone who is willing to sign up include 1:500 leverage and 0.01 minimum lots. After reading so many negative comments regarding this broker, we decided to conduct a full investigation. Read the whole truth here!
Newbie traders are often taken advantage of by scammers due to a number of reasons. Top among these reasons include fake claims and promises. Osprey FX uses the same tricks that scammers use to entice newbie traders into signing up with them. Reviews such as this are meant to open your eyes and spot the trickery used by fraudsters. Don’t sign up with OspreyFX until you read this whole review.
Osprey FX is a broker who deals with Crypto Currency and Forex. Their main area of expertise is Crypto Currency where numerous folks want to make money with this commodity. And what they’ve done is claim to offer full STP execution with their platform. Users are also promised 24/7 Crypto trading, which means their trading is non-stop. Dear readers, read this honest and unbiased review to find out what’s cooking with OspreyFX.
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First red flag we spotted with this brokerage firm is the lack of ownership details. There’s nowhere that users can get to know the real people behind this brokerage firm. That makes it an anonymous entity which is bad for business. How do they expect us to trust them with our deposit when we don\t know who owns the platform? Folks, an anonymous online investment platform is a no show for any expert investor.
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It would have helped if we knew who the actual owners are. One way of verifying ownership is looking at social media profiles of owners. That way, it would make all investors feel safe knowing that they are investing with a real person. And this is where we draw the line with Osprey FX. Fact that this broker is shrouded with anonymity and mischief makes it a dangerous platform to invest in.
To our knowledge, Osprey FX is not licensed or regulated by any regulatory authority that we know of. What’s more interesting is that their own homepage fails to reveal any licensing or regulatory details. A real broker in most cases will post their licensing number and show registration number as well. This is proof that we are dealing with a broker who has not been registered or regulated.
Where’s their registration certificated and documents? A real broker will easily post their details for everyone to see. Why have they not done this? It’s because we are dealing with a fake brokerage entity. These owners don’t have the necessary documents required to run a Forex brokerage firm. It also means that Osprey FX is not authorized to conduct any Forex business on behalf of third parties.
What this broker has done with their demo account is simply unforgivable. This broker has rigged the demo account on behalf of users. Wait, you are thinking that this is a good thing well, it’s not. Let’s us explain the full aspect of a rigged demo account. With a rigged demo account, users trade with virtual money offered to them by the broker. All users have to do is trade and see what happens with their trades.
A rigged demo account will make over 90% successful trades even with a newbie trader. Folks, this is meant to entice investors into signing up with the real account. What investors don’t know is that with a real account, users have to deposit real money. Once you are enticed into opening a real account, that’s when the problems begin. A real account is totally different from a demo account, most users end up losing all their money.
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According to their homepage, this broker uses MT4 trading platform to conduct trading activities. For a trading platform to be considered effective and efficient, it has to be compatible with all devices. In order to test whether their platform worked, we had to download it using various devices. These devices include Desktop, mobile, and Tablet. And this is where we faced another hurdle with this broker.
Download would not complete and stalled at 32% which is bad news for any trader. In other words, it means that their platform cannot be used by traders on the go. This also means that their platform is unstable which is a risky scenario. Hackers easily gain access to unstable platforms and steal credit card and personal data information.
Funds are never safe with a broker who is anonymous and unregulated. How can funds be safe with an unknown entity? If you had plans of signing up with this broker, we suggest you put them on hold. Top among them is that this broker fails to disclose their depository bank. Where do they deposit money sent by clients? This is another red flag with OspreyFX.
Did you know that members could be depositing money straight to the owner’s personal bank account? That’s not all; this broker does not segregate accounts. If you are new at this, it means that the broker is pooling funds in one account. Osprey FX does not participate in a compensatory scheme, once you lose money, that’s it!
Another red flag that we must point out is the fact that this broker has no live chat support. With this day and age, one would expect a broker to have live chat support. What this means is that this broker does not want to be contacted by anyone. Folks, this is a classic scammer’s move as they are afraid of backlash from authorities and victims. They may have a live chat dashboard, but it’s not working.
Live chat dashboard is simply meant to entice users into believing that their platform is accessible. Notice that once you click on it, there’s a message at the top showing that all agents are unavailable. And this is a clear reason that this broker does not want to be contacted by anyone. Why not make an interaction with investors? That’s what real brokers do.
Osprey FX is a scam that is waiting to pounce on anyone who signs up. This broker will eventually make users lose money and shut their whole website in a matter of months. From the levels of anonymity to not having proper documentation, this is a fraudulent broker. Make sure to ignore all their pleas to sign up with them.
Mark all their emails as Spam and never click on any links sent by their email marketing team. As a precaution, make sure to warn your friends and relatives from signing up with this broker.
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Finally, we wish you all the best in your Forex trading investment.
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