Forex traders always look for trading with brokers that suit their trading needs and preferences. XM and OspreyFX are online forex brokers that offer their trading services to traders and investors. XM is a regulated and trusted forex broker. It is regulated in two tier-1, two tier-2, and one tier-4 jurisdictions including ASIC, CySEC, FSCA, FSC-Belize, and DFSA. 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 XM 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.
XM vs OspreyFX: Overview
XM
Founded in 2009, XM is a forex and CFD broker that offers online trading services globally. It provides access to over 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, and shares. The broker is regulated by multiple reputable regulatory authorities, including FSC, ASIC, CySEC, DFSA, and FSCA. The broker offers a full edition of the popular MT4 and MT5 platforms, which include numerous proprietary indicators. XM offers a maximum leverage of 1:1000 to its clients. It is a low-cost broker with spreads starting from as low as 0.6 pips. To learn more, you can read our review on XM.
XM Overview
- Founded In: 2009
- Founder: Constantinos Cleanthous
- Headquarters: Limassol, Cyprus.
- Trading Instruments: 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, shares
- Minimum Deposit: $5 for Micro, Standard, Ultra low accounts, and $10,000 for share accounts
- Maximum Leverage: up1000:1 for Standard, Micro, and Ultra-low accounts, No leverage for share account
- Regulations: FSC, ASIC, CySEC, DFSA, FSCA
- Trading platform: MT4, MT5, XM trading apps
- Spreads: As low as 0.6pips
- Account Types: Standard, Micro, Ultra-low, Share accounts
- Trading Styles: Allows all trading styles including scalping, news trading, copy trading, EA trading
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
- Funding Currencies: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- US Traders: Not Accepted
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
XM vs Ospreyfx: Features
XM
- Trading Instruments: 1000+ including Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
- Maximum leverage:Â up to 1000:1Â
- Â Minimum Deposit:Â $5 or Equivalent
- Account Types:Â Micro, Standard, Ultra Low, Shares AccountsÂ
- Fees:Â Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
- PAMM/ MAM:Â Not AvailableÂ
- Scalping:Â AllowedÂ
- News Trading:Â Allowed
- EA/ Robot Trading:Â Allowed
OspreyFX
- Trading Instruments: 120+ trading instruments including Forex, Crypto, Stocks, Indices, Commodities
- Trading Platforms: Tradelocker
- Minimum Deposit: $10
- Maximum Leverage: 1:500 ( Leverage may vary based on tradable assets)
- 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.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Bitcoin, Crypto, Credit/Debit Cards.
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 144%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes.
- KYC Verification: Required
XM vs OspreyFX: Pros and Cons
XM Pros & Cons
- Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
- Easy and fast account opening
- Minimum deposit is $5
- Over 1000 forex/CFDs are available for trading.
- MT4 and MT5 are the available trading platforms.
- Quality research, market analysis, and access to trading tools like Autochartist.
- Quality training for newbies and ‘ultra-low micro account’ for beginners.
- High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
- Dormant fees are charged after 3 months of no account activity.
- Trading of real stocks is not available to European traders.
- Traders have no other choice apart from the MetaTrader platforms.
- Limited tradable assets.
- No passive investment services (social trading platform, PAMM accounts);
- Funding with PayPal is unavailable
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.
XM vs OspreyFX: Side-by-Side Comparison
XM Vs OspreyFX: Our Scores and Ratings
We rated both brokers, XM 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.
XM:
OspreyFX:
Final Verdict:
Both XM and OspreyFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. XM is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including ASIC, CySEC, FSCA, FSC-Belize, and DFSA. On the other hand, OspreyFX is an unregulated offshore forex broker. XM provides Multiple trading platforms including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts, TradingView, and more. On the Contrary, OspreyFX does not offer MT4/MT5. It uses only TradeLocker as its trading platform.
As XM 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 XM, while US traders looking for offshore forex brokers may consider OspreyFX. However, Trading with offshore forex brokers is risky and not recommended.
