Update: OspreyFX has shut down. The broker stopped operating in mid-2025: it asked clients to close their positions and withdraw their funds before July 7, 2025, and its website now shows a notice saying it is ceasing operations and ending its relationships with its technology providers, as reported by Finance Magnates. You can no longer open an account with OspreyFX.
In this article, we explain what OspreyFX was, what happened, what to do if you still have money with it, and which regulated alternatives to consider.
OspreyFX was a high-leverage forex and CFD broker, registered in Saint Vincent and the Grenadines under Osprey Ltd, which also ran a proprietary trading (prop firm) business. It was never regulated: the Financial Services Authority of Saint Vincent and the Grenadines registers forex companies but doesn’t license or supervise them. That’s why, in our original review, we strongly recommended considering regulated alternatives.
What happened to OspreyFX?
In June 2025, OspreyFX announced it would cease operations, citing a decision to focus on other development opportunities. Clients were told to close all open positions and withdraw their remaining funds before July 7, 2025.
The closure came after months of rising complaints: users reported withdrawal delays, positions closed without explanation and slow customer support, and its Trustpilot rating had fallen to around 2.4 out of 5 by mid-2025. OspreyFX wasn’t an isolated case: in September 2025, Finance Magnates reported that several other offshore brokers using the same TradeLocker platform were also asking clients to withdraw their money and shutting down.
What to do if you still have money with OspreyFX
Since OspreyFX was not regulated, there is no investor compensation scheme or regulator that can guarantee the return of your funds. Still, there are a few steps worth taking:
- Contact OspreyFX in writing: use the official email address you used as a client and keep a record of every message;
- Gather evidence: save your account statements, deposit and withdrawal records, and screenshots of your balance and any notices;
- Contact your payment provider: if you deposited by card, ask your bank whether a chargeback is possible (for crypto deposits, this is usually not an option);
- Report it: you can file a report with your national financial regulator or the police, especially if you suspect fraud;
- Beware of recovery scams: never pay an upfront fee to anyone who contacts you promising to recover your money.
What OspreyFX offered
For reference, this is what OspreyFX offered before it closed:
- Products: CFDs on around 55 currency pairs, 13 indices, 9 commodities, 31 crypto assets and a few dozen US and European stocks, with no real stock ownership;
- Accounts: four account types (Mini, Standard, VAR and PRO), with minimum deposits from $25 to $500 and different combinations of spreads and commissions;
- Platform: TradeLocker, a web-based platform with TradingView charts, on-chart and one-click trading;
- Fees: stock and index CFDs cost $7 per lot, which we considered very high, and an inactivity fee applied;
- Countries: it accepted clients from more than 150 countries, but not Spain or Japan, and its website said it did not target US residents.
The red flags we warned about
In our review, our main concern was always regulation. OspreyFX was registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, which itself warns investors that it doesn’t regulate or license forex brokers. When you visited the FSA’s website, you saw the following warning:
You can read the full warning here. In short, the FSA can register forex companies, but it doesn’t issue a licence or supervise them, so trading with them is done at the investor’s own risk.
Without a regulator, there were no rules on segregating client money, no independent checks on how trades were executed and no compensation scheme if the broker failed. OspreyFX’s closure, and the complaints from clients who struggled to withdraw their money, show why this matters.
The lesson: before opening an account with any broker, check which entity you’ll be registered with and whether it is authorised by a recognised regulator, such as the FCA in the UK, CySEC in Cyprus, BaFin in Germany, ASIC in Australia or the SEC and FINRA in the US. You can check this directly in the regulator’s public register.
OspreyFX alternatives
If you’re looking for a replacement for OspreyFX, choose a broker supervised by a recognised regulator. You can read all our broker reviews here. For CFD and forex trading, XTB and Plus500 are among our top picks. If you also want real stocks, ETFs and bonds, look at Interactive Brokers and Saxo.
OspreyFX alternatives for 2026
Interactive Brokers
Best overall brokerSaxo
Best for experienced tradersXTB
Best for CFD and forex tradingPlus500
Best for a broad CFD offering
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
81% of retail CFD accounts lose money.
Bottom line
OspreyFX is no longer operating, so it’s not an option for new traders. Its closure confirms the concerns we raised in our review: it was registered offshore, had no real regulator, and its clients had no compensation scheme to fall back on.
If you still have money with OspreyFX, document everything, contact the company in writing and be very wary of anyone offering to recover your funds for a fee. If you’re looking for a new broker, choose one authorised by a recognised regulator and, even then, consider spreading your money across more than one broker, so a single failure doesn’t affect all your savings.
