OspreyFX vs Oanda - Fees Review included
Which broker is better OspreyFX or Oanda? Our expert assessment conducted according to TU’s own methodology showed that OspreyFX is one of the top brokers in the financial market with the TU Overall Score of 2.45 out of 10. Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. Find out more about TU Overall Score.
| Feature | OspreyFX | Oanda |
|---|---|---|
Overall |
2.3 |
4.4 |
1 |
5 |
|
2.3 |
4.5 |
|
2.7 |
3.5 |
|
Investment Instruments |
2.1 |
4.1 |
Platforms and Charting Tools |
4.3 |
4.8 |
Deposit and Withdrawal |
2.1 |
4.2 |
Research |
1.4 |
4.7 |
Education |
3.4 |
4.5 |
Support |
1.6 |
4.8 |
Bonuses |
1.8 |
4.6 |
|
|
|
OspreyFX vs Oanda: Pros and Cons
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
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
| OspreyFX | Oanda | |
|---|---|---|
| Overall Pros | The size of the minimum deposit is available even to novice traders | Regulated by a range of reputable financial bodies |
| High leverage - up to 1:500 | Real-time news and fundamental analysis tools | |
| High speed of execution of transactions - 94% of orders are executed at a speed of 30-50ms | localized and multilingual phone support | |
| Honest spread, taking into account the broker's markup. Virtually no expansion during times of abnormal volatility due to direct access to liquidity providers | User-friendly platform for new forex traders | |
| 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 | Outstanding research tools | |
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | Rigid tariff policy, more suitable for traders with active speculative strategies | No programs offering bonus |
| 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 | Slow withdrawal of funds |
OspreyFX vs Oanda: Safety and Regulation
| Regulated By: | OspreyFX | Oanda |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
No |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
OspreyFX vs Oanda: Trading Conditions
| Trading Conditions | OspreyFX | Oanda |
|---|---|---|
Minimum Deposit |
Standard - $50, Pro - $500, VAR - $250, Mini - $25 |
No minimum deposit |
Trading Platforms |
МТ4 (including brouser version), МТ5 |
MT4, OANDA, TradingView |
Max Leverage (Futures) |
1-500 |
1-50 |
Supported Markets |
FX, Indices, Commodities, Metals, Stocks, Cryptos |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Trading assets |
120+ |
120+ |
Trading Accounts |
Standard, Pro, VAR, Mini |
Standard, Core, and Swap-free |
Base Account Currencies |
USD |
USD, EUR, HKD, SGD |
OspreyFX vs Oanda: Fees
Forex Trading Fees
| Fee | OspreyFX | Oanda |
|---|---|---|
Standard Account EURUSD Average Spread |
Not supported |
1.2 pips |
Standard Account Fee |
Not supported |
$0 |
ECN/STP Account Fee |
Standard - $8, Pro - $7, VAR - $0, Mini - $1 |
not offered |
ECN Account EUR Average Spread |
0.7-0.8 pips |
not offered |
CFD Trading Fees
| Fee | OspreyFX | Oanda |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | OspreyFX | Oanda |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$20 - just for bank transfer |
Inactivity Fee |
No |
After 12 months of inactivity, 10 units of your account’s currency denomination |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
OspreyFX vs Oanda: Trading Assets
| Asset Name | OspreyFX | Oanda |
|---|---|---|
Overall |
120+ |
120+trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
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 |
OspreyFX or Oanda: Investment Programs
| Asset Name | OspreyFX | Oanda |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
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% |
No |
Trading Platforms: Oanda or OspreyFX
| OspreyFX | Oanda | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Oanda |
Others |
Web Trader (browser version of the platform of MetaQuotes). Forex Squad - own learning platform |
No |
|
|
|
OspreyFX vs Oanda: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | OspreyFX | Oanda |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for all markets) |
Crypto |
Yes |
No |
OspreyFX vs Oanda: Research
| Research Type | OspreyFX | Oanda |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
OspreyFX vs Oanda: Education
| Education Type | OspreyFX | Oanda |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Oanda vs OspreyFX: Support
| Support Features | OspreyFX | Oanda |
|---|---|---|
Working Days |
24/7 |
24/5 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
feedback form |
No |
OspreyFX vs Oanda: Forex Bonuses and Promo
| Promo | OspreyFX | Oanda |
|---|---|---|
Forex Bonus |
No |
Yes (Not for all countries) |
Affiliate Program |
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 |
Yes |
Other Promos |
Contests with small deposit |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!