LMFX and OspreyFX are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review LMFX and OspreyFX by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
LMFX vs OspreyFX: In a Nutshell
LMFX
Founded in 2015, LMFX is a forex and CFD broker that provides online trading services globally. It offers around 100 trading instruments through the MetaTrader 4 (MT4) platform. LMFX provides low spreads and fast execution speeds as an ECN/STP broker. The broker offers three account types: Premium, Fixed, and Zero. The broker offers a demo account for practice. The broker provides trading tools, including multiple calculators, an economic calendar, and a blog featuring market news and trading insights.
LMFX runs a monthly demo contest with a total prize pool of $1,750, awarded as live trading funds. It offers a 100% deposit match bonus for deposits of at least $100 and a Phoenix bonus for first-time deposits. The broker provides a free VPS service for traders who meet specific criteria. LMFX operates without regulation from any major financial authority. It accepts clients from various countries, except the USA and Canada.
LMFX Overview
- Founded In: 2015
- Trading Instruments: 100+ trading instruments including Forex, CFDs (Indices, Commodities, Metals, Shares)
- Minimum Deposit: $50
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform: MT4 on desktop, web, mobile
- Bonus: Available
- Account Types: Premium, Fixed, Zero, Micor, Islamic
- Payment Options: Crypto, Credit Card,
- Trading Styles: Scalping, hedging, EA Trading, News trading are allowed.
- Trading Tools:Economic calendar, Free VPS, trading calculators
- US Traders: Accepted
OspreyFX
Founded in 2024, OspreyFX is a forex and CFD broker that offers online trading services globally. It is an unregulated offshore broker that offers 100+ instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of OspreyFX is as high as 1:2000.
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
LMFX vs OspreyFX: Side By Side Comparison
LMFX vs OspreyFX: Features
LMFX
- Trading Instruments: Forex, Metals, Oil, Indices, Commodities, Shares Â
- Trading Platforms: Mt4, Web Trading, Mobile
- Minimum Deposit: Â $5
- Maximum Leverage: 1:1000
- Trading Fees: Spreads starting from 1 pips. LMFX charges a fixed commission for every lot traded. A lot is equal to 100,000 units of currency. If you have a zero account, the commission is $4 per lot which means $8 for a round lot.
- Minimum Trade Size: 0.01 lot.Â
- Maximum Trade Size (Lot restriction per Ticket): 50 LotsÂ
- Funding Currencies: USD/EUR
- Trading Style Allowed: Almost all trading styles including Scalping, hedging, copy trading, and EA Trading.Â
- Stop Out Level (retail): 20%
- Margin Call Level: 50%Â
- Negative balance Protection: YesÂ
- Investor Protection:Â No
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.Â
- KYC Verification: Required
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
LMFX vs OspreyFX: Pros and Cons
LMFX Pros & Cons
- The maximum leverage is as high as 1:1000.
- Tight Spread Starting from 0 pips
- Free VPS for high-volume traders.
- Allow Scalping, News Trading, EA Trading
- Does not have any FIFO Restrictions
- Deposit bonus and other bonuses.
- Due to the absence of regulatory restrictions, the broker is open to clients worldwide
- Multiple payment options including crypto and e-wallets.
- 4 Types of accounts available ( Premium, Micro, Fixed Zero)
- Traders are supported with trading tools like calculators, economic calendars, etc.
- Not Regulated by Any Authority
- Crypto CFDs are not available to Trade
- No Investor Protection Scheme
- No access to MetaTrader 5. Only MT4 and Webtrader are available.
- The minimum deposit for bank wire transfers is $250
- Managed Accounts and Social Trading (MAM, PAMM Accounts) are not Available
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.
Final Thoughts:
LMFX and OspreyFX are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, LMFX does not support MetaTrader (MT5) trading platform; instead, it uses the MT4 trading platform. On the other hand, OspreyFX supports both MT4, MT5 trading platforms. The minimum deposit for LMFX is $5, whereas the minimum deposit for OspreyFX is between $25 and $500 (Depending on Account Type). Additionally, the maximum leverage for LMFX is 1000:1, while the maximum leverage for OspreyFX is 500:1.
LMFX does not offer any passive investment programs like MAM or PAMM, while OspreyFX does provide such programs. Our score for LMFX is 3.6, and for OspreyFX, it is 4.4
If you are looking for an offshore broker with the Metatrader (MT5/MT4) trading platform you may choose OspreyFX. However, if you prefer not to use MT5, you may choose LMFX.Â
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
