OspreyFX Funded Account Review
OspreyFX is an ECN trading broker that provides a funded account up to $200,000 with a 70% profit share to the trader if they can complete the demo and verification stages of the trading challenge.
OspreyFX is an ECN broker with industry leading pricing on 120+ tradable assets including Forex, Crypto, Stocks, Indices, Commodities all in one place. You can trade with leverage up to 1:100 on a funded account and get tight spreads from just 0.1 pips, low commission fees and rapid trade execution speeds via the user-friendly MetaTrader platforms (MT4/MT5). This is backed up by 0% deposit feed and dedicated 24/7 customer support.
In addition to offering top class online trading products, the OspreyFX funded account provides you with the chance to become a funded trader. You can trade the brokers capital and keep 70% of the profits. OspreyFX are one of the only trading brokers that have their own inhouse prop trading service. This is different to most proprietary firms who instead use partner brokerages for their funded traders.
You need to pass a two-step evaluation phase if you want to have the chance to get an OspreyFX funded account with up to $200,000 in trading capital and a 70% profit share. The trading challenges are very achievable with realistic targets and fair conditions. The rules are simple to follow with no hidden objectives.
Demo Stage
The first step you need to take is to register for a demo challenge. This has a profit target of 10% that must be reached within 30 days. There is a maximum daily loss of 5% allowed and a maximum 12% overall loss. The minimum trading days requires that you trade for at least 10 days. This is to ensure that your trading is consistent and you haven’t just got lucky.
- Profit of 10% in 30 days
- Min trading days: 10
- Max overall loss of 12%
- Max daily loss of 5%
Verification Stage
Once you have successfully completed the demo stage, you will move onto the verification stage where you continue to prove your trading skills under slightly different conditions. This time, you will need to achieve a more realistic profit target of 8% in 60 days. This gives you more free demo although the minimum 10 trading days and maximum loss still apply.
- Profit of 8% in 60 days
- Min trading days: 10
- Max overall loss of 12%
- Max daily loss of 5%
- Follow the Consistency Rule
Funded Account
If you complete both the demo and verification stage, you will move onto the funded account. This is when you can start trading on a real account and receive 70% of the profits with weekly payouts. The maximum over loss is 12% and daily loss is 5%, which is the same as the previous stages so should be achievable if you have made it this far.
- Receive 70% of profits
- Weekly Payouts
- Max overall loss of 12%
- Max daily loss of 5%
OspreyFX Accounts
In order to start your funding journey, you can choose an account size depending on your trading style and investment size. Each account has a refundable fee ranging from $220 for the $25,000 account to $999 for the $200,000 account. All accounts have a $1,000 bonus upon completion of the verification stage. You can trade according to your own style and strategy, as long as you are sticking to the rules.
The OspreyFX funded account rules are very simple and transparent. Unlike some other prop firms, they don’t have any complicated or hidden rules designed specifically to try and trip you up. There are some basic guidelines that you need to follow and objectives you need to reach in order to pass the evaluation phase and keep a funded trading account.
Consistency Rule
The consistency rule means that profits earned on your best trading day must not exceed 30% of the overall profit earned. Any trader can have a luck trading day which can give a false impression on trading performance. Therefore, OspreyFX have implemented the consistency rule to make sure that you are implementing a solid trading strategy which can produce good results for a sustained period of time. The good thing is that this rule only applies to the verification stage.
OspreyFX will assess your trading abilities using the “Highest Day Profit” parameter, which you can view directly from the Funded Accounts Dashboard. It proves you’re a trader who can turn a profit consistently while effectively controlling risk and not just relying on chance.
If your best trading day accounts for 30% or more of your total winnings, you must continue trading until that percentage falls below 30%.
Accounts
Customers are only allowed to have one Customer Account, but they are allowed to have numerous funded trading accounts. Depending on the entire sum of the initial capital amounts of the products that the Customer has ordered, as well as other factors, the total number of Funded Trading accounts may be restricted. Between the Funded trading accounts, the Customer is not permitted to transfer or merge his or her performance, Service parameters, data, or any other information.
Trading Rules
The customer is permitted to conduct trading transactions during the demo trading on the trading platform (Stages 1 and 2), unless they are Prohibited Trading Strategies or practises. The Customer also consents to behave honestly and adhere to ethical standards when trading on financial markets.
When trading on the Funded Trading Account owned by OSPREY LTD, the trader recognises that it is his or her responsibility to close open positions right before the markets close for the weekend or if the rollover lasts for more than two hours.
In the course of trading, it is forbidden to intentionally or unintentionally employ trading techniques that prey on service flaws, such as inaccurate price displays or updates that are delayed.
Traders cannot execute, either alone or in conjunction with others, trades or combinations of trades with the intention of manipulating trading, such as simultaneously taking opposing positions on accounts related to one another or accounts owned by separate OSPREY LTD companies.
You are not allowed to execute trades in a manner that raises legitimate fears that the Company would suffer financial or other harm as a result of the Customer’s activity, or in a manner that is inconsistent with how trading is conducted in the forex market or in any other financial market.
OspreyFX retains the right to decide whether specific transactions, techniques, tactics, or circumstances constitute Prohibited Trade Practices in its sole discretion.
Profit Share & Withdrawals
The customer will be granted trading access to a funded trading account in order to take part in the OspreyFX Funded Account Program if they are successful in the OspreyFX Funded Challenge, Verification, and trading evaluation. The profit share is 70% which is generous but not quite on par with FTMO who have a 90% profit split in favour of the trader.
If the profit reaches $10, all profit-sharing payments will be made on a weekly basis every Friday at 12:00 MT4/MT5 Server time. The profit sharing will be determined by the Trader’s equity gain for the prior week. If the requirements of the terms are met, the customer’s account will be financed within 7 to 14 days of qualifying for a funded account.
Refundable Fee
If the trader did not violate any of the conditions outlined in the OspreyFX funded account terms, their entry fee will be included to the first weekly payout in the funded account together with an additional bonus of $1000 (one thousand).
Platforms
OspreyFX provide online trading services via the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are two of the most widely used trading platforms, serving millions of retail and professional traders all over the globe. Both MetaTrader platforms have a user-friendly interface that can easily be customised according to your own trading style.
The platforms have thousands of free and paid add-ons that can be used for building simple or complex trading strategies. You can trade manually or run automated systems around the clock. You will find technical indicators and drawing tools for annotating charts of all your favourite instruments to find actionable trading signals. Whatever your trading strategy, MT4 and MT5 have got you covered.
Instruments
With OspreyFX, you can trade Forex, Cryptos, Metals, Commodities or Indices. They have a good selection of financial instruments although perhaps not as much as FP Markets. If you are looking for more trading instruments, then Savius are an alternative prop firm who have partnered with FP Markets.
Trading Dashboard
You can track and analyse your results to improve your trading strategy with the advanced dashboard. Here you can find everything related to your trading activities to make sure that you are complying with all of the trading rules and on target to reach your objectives.
| Maximum capital | $200,000 |
| Profit split | 70% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:100 |
Overall, the OspreyFX funded account is a great option for anyone who is looking for a funded trading account with the backing of an established brokerage firm. The 2-step evaluation process is fair and help the prop firm to filter the good from the bad traders. That being said, the targets are certainly achievable for anyone who some good trading skills.
The rules are fair and simple, whilst the 70% profit share is in favour of the trader. The maximum capital is $200,000 and leverage of 1:100 is available. On the other hand, there is a consistency rules and you must meet the minimum 10-day trading requirement. However, these shouldn’t be deal breakers for serious traders is it encourages sensible trading with good risk management.
There is a decent selection of financial instruments across multiple asset classes with very favourable trading conditions on the popular MetaTrader platforms. They are not as strict on trading strategies when compared to most other proprietary trading firms, so you can use expert advisors and trade the news if you wish.
All in all, the OspreyFX funded accounts are certainly worth consideration as they tick a lot of boxes for aspiring prop traders.
