IronFX vs OspreyFX - Fees Review included
Which broker is better IronFX or OspreyFX? Our expert assessment conducted according to TU’s own methodology showed that IronFX is one of the top brokers in the financial market with the TU Overall Score of 7.64 out of 10. OspreyFX is one of the top brokers in the financial market with the TU Overall Score of 2.4 out of 10. Find out more about TU Overall Score.
| Feature | IronFX | OspreyFX |
|---|---|---|
Overall |
3.5 |
2.3 |
2.1 |
1 |
|
2.9 |
2.3 |
|
4.2 |
2.7 |
|
Investment Instruments |
4.6 |
2.1 |
Platforms and Charting Tools |
4.4 |
4.3 |
Deposit and Withdrawal |
3.7 |
2.1 |
Research |
3.9 |
1.4 |
Education |
4.7 |
3.4 |
Support |
3.9 |
1.6 |
Bonuses |
4.8 |
1.8 |
|
|
|
IronFX vs OspreyFX: Pros and Cons
The IronFX broker has been serving clients globally for over 10 years. It offers terms for both active and passive income. The company is registered in Bermuda, and there are no regulatory bodies and no licenses. During its tenure, the broker has received over 30 awards but doesn’t provide data on nominations. When asked about regulation, the broker's support service says that there are several licenses, including the permits of the CySEC (Cyprus) and FCA (Great Britain) regulators. Indeed, a detailed analysis reveals inconsistencies, which are described in more detail in the "Security and protection for clients of IronFX " section. Please note, that the absence of a license means that there is no protection against a broker not fulfilling its obligations and that there is no guarantee of protecting the interests of investors.
OspreyFX is an STP broker that operates on the A Book model and uses ECN technology. It was registered in Saint Vincent and the Grenadines in 2018 and currently is applying for a dealer license. The company offers clients FX and CFD trading, including indices, commodities, stock indices, and cryptocurrencies. Traders can open ECN accounts and trade via mobile or desktop terminals using MetaTrader 4/5 or WebTrader with high leverage
| IronFX | OspreyFX | |
|---|---|---|
| Overall Pros | wide range of trading assets | The size of the minimum deposit is available even to novice traders |
| variety of bonus programs and promotions | High leverage - up to 1:500 | |
| High speed of execution of transactions - 94% of orders are executed at a speed of 30-50ms | ||
| Honest spread, taking into account the broker's markup. Virtually no expansion during times of abnormal volatility due to direct access to liquidity providers | ||
| In addition to active trading tools, the “funded trader” program is presented, which allows you to manage up to 200 thousand USD after passing the test | ||
| Overall Cons | Poor regulation | Rigid tariff policy, more suitable for traders with active speculative strategies |
| the information published on the site is incomplete | The helpdesk is overly automated. To contact the operator, you need to answer a lot of questions from the bot. Operators respond to unregistered users with general phrases without specifics | |
| there are frequent slippages | ||
| periodic delay in withdrawing funds | ||
| High spreads and ECN trading fees |
IronFX vs OspreyFX: Safety and Regulation
| Regulated By: | IronFX | OspreyFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Bermuda - registration number 51491 |
No |
IronFX vs OspreyFX: Trading Conditions
| Trading Conditions | IronFX | OspreyFX |
|---|---|---|
Minimum Deposit |
$50 |
Standard - $50, Pro - $500, VAR - $250, Mini - $25 |
Trading Platforms |
MetaTrader 4, WebTrader |
МТ4 (including brouser version), МТ5 |
Max Leverage (Futures) |
1-1000 |
1-500 |
Supported Markets |
Currency pairs, stocks, metals, indices, futures, commodities, and cryptocurrencies |
FX, Indices, Commodities, Metals, Stocks, Cryptos |
Trading assets |
300+ |
120+ |
Trading Accounts |
Micro, Premium, VIP, Zero Fixed, No commission, Zero Spread, Absolute Zero, demo account |
Standard, Pro, VAR, Mini |
Base Account Currencies |
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, and CZK |
USD |
IronFX vs OspreyFX: Fees
Forex Trading Fees
| Fee | IronFX | OspreyFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.8 pips |
Not supported |
Standard Account Fee |
$0 |
Not supported |
ECN/STP Account Fee |
Zero Spread account - $13.5/Lot |
Standard - $8, Pro - $7, VAR - $0, Mini - $1 |
ECN Account EUR Average Spread |
0.0 pips |
0.7-0.8 pips |
CFD Trading Fees
| Fee | IronFX | OspreyFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IronFX | OspreyFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
3% ‘no trading’ fee when a trader has deposited and requested to withdraw funds without ever entering one trade |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IronFX vs OspreyFX: Trading Assets
| Asset Name | IronFX | OspreyFX |
|---|---|---|
Overall |
300+ |
120+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
IronFX or OspreyFX: Investment Programs
| Asset Name | IronFX | OspreyFX |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
There is a "Funded Trader" program. A trader must show on a test account that he can earn money by observing risk management. In case of success, the trader receives a real account with an amount of up to 200 thousand USD in management. Conditions: exam price - from 250 USD, trading: minimum 10 days within 1 month, maximum daily drawdown - 5%, total - 12% |
Trading Platforms: OspreyFX or IronFX
| IronFX | OspreyFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
Web Trader (browser version of the platform of MetaQuotes). Forex Squad - own learning platform |
|
|
|
IronFX vs OspreyFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IronFX | OspreyFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
no |
Yes |
IronFX vs OspreyFX: Research
| Research Type | IronFX | OspreyFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
IronFX vs OspreyFX: Education
| Education Type | IronFX | OspreyFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
No |
No |
OspreyFX vs IronFX: Support
| Support Features | IronFX | OspreyFX |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
feedback form |
IronFX vs OspreyFX: Forex Bonuses and Promo
| Promo | IronFX | OspreyFX |
|---|---|---|
Forex Bonus |
"100% Unlimited Sharing Bonus" The "40% Power Bonus up to $4,000" "20% Iron Bonus up to $2,000" |
No |
Affiliate Program |
“Introducing Broker” (IB). Opening a personal account as a broker's representative gives you an advantage in the form of extra bonuses, contests, more favorable trading terms, and rebates. |
Affiliate program with a reward of 2.5 USD for each lot conducted by the referral. The broker provides marketing packages with information materials and provides training free of charge |
Other Promos |
Contests with small deposit |
|
|
|
|
Top 5 Reviews on OspreyFX
-
Comment
For me, the downside of trading with OspreyFX is the wide spreads. For the EUR/USD pair, the average spread is 6.5 pips. This is quite a lot for those who trade actively. I engage in medium-term trading, holding orders for one or two days. Therefore, such a wide spread at OspreyFX does not play a key role for me. Other than that, trading suits me fine.
-
Comment
I do not recommend contacting OspreyFX. Everything here is dubious and non-transparent, promises of its managers are a complete lie. They call and promise success and excellent earnings. You open a trading account and at first everything is fine. But after a while they begin to lead you to bankruptcy. OspreyFX managers ask you to fund your account and claim that their task is to help you. This is a total scam, don't trust OspreyFX.
-
Comment
I strongly do not recommend working with OspreyFX! The problem, even the simplest one, cannot be solved. I requested a withdrawal of $800 and asked for the transfer to be completed without delay. However, they delayed it by more than two weeks! This was done on purpose! No one answered my messages and calls, and no one apologized or explained the situation.
-
Comment
The ospreyfx.com website does not provide information about the company holding a license from a European regulator. The legal address of the so-called broker is in Kingstown, which is a convenient place to conceal dubious activities and scams. I do not recommend collaborating with OspreyFX; it is not trustworthy. Most likely, the money you transfer to them will not be returned.
-
Comment
ospreyfx.com does not have a regulatory license. The broker’s website claims that it doesn’t provide its services only to U.S. citizens. But if the company does not have a license from the European regulator, it cannot offer its services here either. I strongly do not recommend opening an account here. Most likely, you will simply lose your money.
Top 5 Reviews on IronFX
-
Comment
IronFX is currently one of the best brokers — everything works well, without any delays. I withdrew to Skrill a couple of times and the money came almost immediately.
-
Comment
I would like to leave a review of ironfx. This company makes me happy! I’ve been working with them for six months now. It is profitable to do business with them! It’s hard to find such good conditions! Trading has already brought me $2,400. I withdraw it without delays. The user account is very convenient. The broker is priceless!
-
Comment
I've been piping for 5 months with this company. I can note that trades have never been canceled. And in general, IronFX does not interfere with trading. There were no problems with withdrawals. It’s an ordinary normal company, I didn’t find anything critical in it. Trading conditions correspond to the market.
-
Comment
I’ve been trading with Iron FX for a while now and have had no problems so far. Among the advantages are good performance and a good personal manager. I’m trading here with a small deposit, but I think that there won’t be any problems and I’ll deposit a decent amount to earn more.
-
Comment
I've been trading with ironfx for almost a year now. Summing up, I would like to express my gratitude to the company’s managers for their responsiveness, and to the company as a whole for offering good conditions and supporting its clients! Don't stop, go forward, and I'm with you.) Good luck!
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.