Quotex vs OspreyFX - Fees Review included
Which broker is better Quotex or OspreyFX? Our expert assessment conducted according to TU’s own methodology showed that Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 out of 10. OspreyFX is one of the top brokers in the financial market with the TU Overall Score of 2.45 out of 10. Find out more about TU Overall Score.
| Feature | Quotex | OspreyFX |
|---|---|---|
Overall |
2.8 |
2.3 |
1 |
1 |
|
3.3 |
2.3 |
|
3.1 |
2.7 |
|
Investment Instruments |
1 |
2.1 |
Platforms and Charting Tools |
3.9 |
4.3 |
Deposit and Withdrawal |
4.6 |
2.1 |
Research |
1.5 |
1.4 |
Education |
2.3 |
3.4 |
Support |
3.0 |
1.6 |
Bonuses |
3.8 |
1.8 |
|
|
|
Quotex vs OspreyFX: Pros and Cons
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
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
| Quotex | OspreyFX | |
|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | The size of the minimum deposit is available even to novice traders |
| No trading fees and no deposit, withdrawal and account fees | High leverage - up to 1:500 | |
| Algorithmic trading is technically impossible | 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 | No Regulatory License | Rigid tariff policy, more suitable for traders with active speculative strategies |
| 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 |
Quotex vs OspreyFX: Safety and Regulation
| Regulated By: | Quotex | OspreyFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
No |
Quotex vs OspreyFX: Trading Conditions
| Trading Conditions | Quotex | OspreyFX |
|---|---|---|
Minimum Deposit |
$10 |
Standard - $50, Pro - $500, VAR - $250, Mini - $25 |
Trading Platforms |
Own platform |
МТ4 (including brouser version), МТ5 |
Max Leverage (Futures) |
Not provided technically |
1-500 |
Supported Markets |
Currencies, raw materials, stocks |
FX, Indices, Commodities, Metals, Stocks, Cryptos |
Trading assets |
80+ |
120+ |
Trading Accounts |
Single account for binary options trading |
Standard, Pro, VAR, Mini |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD |
Quotex vs OspreyFX: Fees
Forex Trading Fees
| Fee | Quotex | OspreyFX |
|---|---|---|
Standard Account EURUSD Average Spread |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
Not supported |
Standard Account Fee |
$0 |
Not supported |
ECN/STP Account Fee |
Not supported |
Standard - $8, Pro - $7, VAR - $0, Mini - $1 |
ECN Account EUR Average Spread |
Not supported |
0.7-0.8 pips |
CFD Trading Fees
| Fee | Quotex | OspreyFX |
|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread |
Non-Trading Fees
| Fee | Quotex | OspreyFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Quotex vs OspreyFX: Trading Assets
| Asset Name | Quotex | OspreyFX |
|---|---|---|
Overall |
80+ |
120+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
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 |
Quotex or OspreyFX: Investment Programs
| Asset Name | Quotex | OspreyFX |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
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 Quotex
| Quotex | OspreyFX | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own trading platform |
Web Trader (browser version of the platform of MetaQuotes). Forex Squad - own learning platform |
|
|
|
Quotex vs OspreyFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | OspreyFX |
|---|---|---|
Bank Transfer |
No |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
Quotex vs OspreyFX: Research
| Research Type | Quotex | OspreyFX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
No |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Quotex vs OspreyFX: Education
| Education Type | Quotex | OspreyFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
No |
Yes |
Videos |
No |
No |
Cent account |
No |
No |
OspreyFX vs Quotex: Support
| Support Features | Quotex | OspreyFX |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
No |
|
Phone |
No |
No |
Online chat |
No |
Yes |
Other |
Feedback form |
feedback form |
Quotex vs OspreyFX: Forex Bonuses and Promo
| Promo | Quotex | OspreyFX |
|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
No |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
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 Quotex
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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!