Forex traders always look for trading with brokers that suit their trading needs and preferences. LiteFinance and OspreyFX are online forex brokers that offer their trading services to traders and investors. LiteFinance is a highly regulated and trusted forex broker. It is regulated in two tier-1 jurisdictions, and one tier-5 jurisdictions. On the other hand, OspreyFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by LiteFinance and OspreyFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
LiteFinance vs Ospreyfx: In a Nutshell
Lite Finance
LiteFinance (formerly known as LiteForex) is an online forex and CFD broker founded in 2005. It provides online trading services for individuals interested in participating in the foreign exchange market and other financial markets. LiteForex offers various trading accounts, platforms, and educational resources for traders. You can trade using MT4, MT5, and mobile trading apps on LIteFiance. This broker offers 250+ trading instruments for retail traders.
LiteFinance Overview
- Founded In: 2005
- Minimum Deposit: $10
- Maximum Leverage: 1:1000
- Regulations: FCA, CySEC, FSA, FSA (Labuan), and FSCA.
- Trading platform: MT4/5, LF, cTrader
- Account Types: ECN, Classic
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, M-Pesa, Mobile Money, Monero, PerfectMoney, Ripple (XRP), WebMoney
- US Traders: Not Accept
OspreyFX
Founded in 2018, OspreyFX is a regulated forex broker headquartered in Saint Vincent and the Grenadines. It operates as an offshore forex broker, offering leverage as high as 500:1. OspreyFX supports all trading styles; including scalping, hedging, news trading, copy trading, and algorithmic trading. Currently, it uses TradeLocker as its trading platform. The broker provides a wide range of trading instruments, such as forex, Indices CFDs, Metal CFDs, Commodities CFDs, Cryptos CFDs, and Share CFDs (US and EU). Being an offshore forex broker it can onboard clients from anywhere in the world, including the USA. However, the broker only accepts crypto deposits and withdrawals.
OspreyFX Overview
- Founded In: 2019
- Trading Instruments: 120+ including Forex, Crypto, Stocks, Indices, Commodities
- Minimum Deposit: between $25 and $500 (Depending on Account Type)
- Maximum Leverage: 1:500
- Regulations: None
- Trading Fees: Starting from 0.1 Pips
- Deposit and Withdrawal Fees: $0
- Trading platform: TradeLocker
- Account Types: 4 account types such as Standard ECN, Pro ECN, VAR, Mini
- Payment Options: Bitcoin, Crypto, Credit/Debit Cards, and PayRedeem
- US Traders: Accepted
Lite Finance vs OspreyFX: Side By Side Comparison
LiteFinance vs: OspreyFX Features
LiteFinance
- Trading Instruments: 250+ Trading instruments including Forex currency pairs, CFD stocks, Stocks indexes, Metals, Oil, Cryptocurrencies, etc.
- Maximum leverage: The maximum leverage of LiteFinance is as high as 1000:1. However, leverage may vary based on jurisdiction, and tradable assets.
- Minimum Deposit: The minimum deposit of LiteFinance is $10 for cent account, $50 for ECN and Classic Accounts
- Account Types: Three (ECN, Classic, Cent)
- Trading Fees: Floating spread starting from 0.0 pip for ECN Account, 1.8 Points for Classic Account, and 3 points for Cent Account. ECN account charges a commission of 0.25 per lot per side (Zero Spreads)
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
OspreyFX
- Trading Instruments: 120+ trading instruments including Forex, Crypto, Stocks, Indices, Commodities
- Trading Platforms: Tradelocker
- Minimum Deposit: Â $10
- Maximum Leverage: 1:500 ( Leverage may vary based on tradable assets)Â
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.4 pips for the Pro account, $7 per lot for the Standard ECN account, and $8 for the Pro ECN account.
- Minimum Trade Size: 0.01 lot.Â
- Maximum Trade Size (Lot restriction per Ticket): 1000 LotsÂ
- Funding Currencies: Bitcoin, Crypto, Credit/Debit Cards.
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.Â
- PAMM/ MAM:Â AvailableÂ
- Stop Out Level (retail): 144%
- Margin Call Level: 100%Â
- Negative balance Protection: YesÂ
- Investor Protection:Â No investor protection is Available.Â
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.Â
- KYC Verification: Required
Lite Finance vs OspreyFX: Pros and Cons
Lite Finance Pros & Cons
- LiteFinance ( formerly LiteForex) is regulated by CySEC
- The Maximum leverage is as high as 1:1000
- Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders
- Variety of account types, including Classic and Islamic accounts.
- Scalping, News trading, and EA/Robot Trading are allowed
- Offers web trading, mobile trading and ECN trading
- Multiple payment methods, plus local transfers
- Not regulated by tire regulators like FCA, ASIC
- No passive investment program ( MAM, PAMM Accounts)
- US, UK, or Japan Traders are not accepted
- A small selection of trading instruments;
- Sometimes it takes time to receive a response from technical support;
- 3% withdrawal fees if you do not have any trading activities
OspreyFX Pros & Cons
- The Maximum Leverage is as high as 1:500
- ECN STP broker model
- Faster Trade Execution with Tradelocker
- Offers Multiple Account Types including, Demo accounts and Live Accounts
- Rebates and Rewards are Available for Live Trading Accounts
- Accounts can be funded with multiple crypto coins such as BTC, ETH, LTC, USDT, DOGE, etc.
- Professional traders who can prove their competence may receive funded accounts up to $200,000 and earn up to 80% of their profits.
- Unregulated Offshore Forex Broker
- No Metatrader (MT4, MT5) Trading Platfroms.
- Offers Only Tradelocker Trading Platform
- Limited Deposit and Withdrawal Methods (Cryptos, PayRedeem)
- No managed accounts or Social Trading (MAM, PAMM) Offered
- Live chat is a bit complex. To contact the chat operator, you need to first answer a series of questions from the virtual bot each time.
LiteFinance Vs OspreyFX: Our Scores and Ratings
We rated both brokers, LiteFinance and OspreyFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
LiteFinance:
OspreyFX
Final Verdict :
Both LiteFinance and OspreyFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. LiteFinance is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including CySEC, MIFID, FSA. On the other hand, OspreyFX is an unregulated offshore forex broker. LiteFinance provides Multiple trading platforms including MT4, MT5, MobileTrader (MobileApp). On the Contrary, OspreyFX does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As LiteFinance is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, OspreyFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for LiteFinance, while US traders looking for offshore forex brokers may consider OspreyFX. Trading with offshore forex brokers is risky and not recommended.
