OspreyFX and Plexytrade 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 OspreyFX and Plexytrade 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.
OspreyFX vs Plexytrade: In a Nutshell
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
Plexytrade
Founded in 2024, Plexytrade is an online forex and CFD broker. It is an unregulated forex 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 Plexytrade is as high as 1:2000.
Plexytrade at a Glance
- Founded Year: 2024
- Headquarters: Rodney Bay Gros Islet, Saint Lucia
- Minimum Deposit: $50
- Maximum Leverage: 1:2000
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: MT4, MT5
- Account Types: Micro, Silver, Gold Raw, Platinum VIP
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Cryptocurrencies, Bitcoin
- US Traders: Accepted
OspreyFX vs Plexytrade: Side By Side Comparison
OspreyFX vs Plexytrade: Pros and Cons
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.
Plexytrade Pros & Cons
- The maximum leverage is as high as 1:2000 ( Leverage may vary based on account types and tradable asset types)
- Allow Crypto CFD Trading
- The maximum lot size is as high as 1000 lot
- Raw spread starting from as low as 0.0 pips
- Offers MT4, and MT5 trading platforms (Desktop, Web, mobile version)
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Plexytrade Accepts Crypto Deposits
- Unregulated offshore forex broker
- Only Crypto Deposit and Withdrawal Option
- A limited number of tradable assets
Final Thoughts:
OspreyFX and PlexyTrade 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, OspreyFX does not support MetaTrader (MT4/MT5) trading platform; instead, It uses the Tradelocker trading platform. On the other hand, PlexyTrade supports both MT4, MT5 and Tradelocker trading platforms. The minimum deposit for OspreyFX is $10, whereas the minimum deposit for PlexyTrade is $50. Additionally, the maximum leverage for OspreyFX is 500:1, while the maximum leverage for PlexyTrade is 2000:1.
OspreyFX does not offer any passive investment programs like MAM or PAMM, while PlexyTrade does provide such programs. Our score for OspreyFX is 3.6, and for Plexytrade, it is 4.5.
So, If you are looking for a high-leverage offshore broker with Metatrader (MT4/MT5) trading platform you may choose PlexyTrade. However, if you prefer not to use MT4/MT5, you may choose OspreyFX.
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
