IIAwards - Review of OSOM Finance
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4 November
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As part of the recently announced IIAwards, in which we celebrate innovations in the fintech and crypto industry, today we will review OSOM Finance.

General information

OSOM Finance is registered in Estonia, compliant with the Estonian Financial Intelligence Unit rules with offices dotted across Europe. Founded in 2017 by Polybius, an Estonian and Belgian fintech firm, the team is experienced and delivers competitive crypto wallet and exchange services.

Commissions & fees - (2/5)

In comparison with other players in the industry, Osom’s fee structure is transparent, yet not very competitive. Most Bitcoin trading bots charge either a monthly fee or a one-time fee, which can be quite expensive. This means that you pay for the trading bot, even if you lose money with your trading. OSOM Finance has a different fee structure: There are no fees for using the autopilot. At OSOM Finance, fees only apply to the profits generated. If the autopilot does not bring you any profits, you will not pay any fees. If a profit is reached and realised, a fee of 10% of the profit is due.

Markets & products - (3/5)

At its core, the objective of OSOM Finance is to use advanced trading algorithms, assisting users to accumulate more wealth from the booming crypto market. In their arrangement, trading algorithms designed for traders by traders are deployed to the market to make money on behalf of clients. At the center of their revolutionary approach to trading and wealth accumulation is the Crypto Autopilot. Designed by the Polybius team and InvestSuite, it is still in beta, though it has attracted several hundreds of users.

Advanced trading platform - (2/5)

OSOM Finance is actively using 33 technologies for its website, according to BuiltWith. These include Viewport Meta, IPhone / Mobile Compatible, and Google Analytics. One of the main highlights of the Crypto Autopilot lies in the fact it is tracking over 30 cryptocurrencies at any one time. The greatest return opportunities tend to lie in highly undervalued altcoins with strong growth potential. The advanced quant trading algorithm that is the Crypto Autopilot chooses its picks from a constantly updated list of altcoins that are most appealing – all of which possess strong project integrity as well as high volume and liquidity. Additionally, the company has recently introduced a new feature that allows its users to use their Mastercard and Visa credit and debit cards to make direct deposits and withdrawals of funds in OSOM with SecureTrading. In addition to Swift transactions, all SEPA transfers are free of charge. There is no downloadable desktop version of the platform.

Innovative account opening - (2/5)

The registration procedure follows a conventional process - after filling an online questionnaire, the user is requested to verify his identity. After receiving a confirmation email from the platform, the user is set to begin trading.

Customer service - (1/5)

One of the main drawbacks of the service is the weak customer support. It is possible to contact Osom only via email or the chat on the mobile platform. While the responses tend to be relatively quick, this is a considerable weakness in comparison to the customer service strategy employed by other players in the industry. Osom has developed an FAQ, that concerns the autopilot algorithm as well as a set of articles outlining the basic functionality. While the company claims to have a median response time of 27 minutes, there is no phone line available and the scope of the FAQ is limited in comparison to competitors.

Education - (3/5)

The company has recently developed a youtube channel where it posts videos in a series “Learn CRYPTO with OSOM”, with the help of these videos it is possible to gain a more profound understanding of the basic concepts present in the industry, including blockchain, cryptography and bitcoin. There is also a blog section dedicated to a variety of topics ranging from “Crypto Trading: Bots vs Humans — Who Wins Long-Term?” to the benefits of the company's products.

Mobile trading / Apps - (2/5)

OSOM Finance app can be found both on Apple and Android app stores. It offers all of the same versionality as the web-based version, which allows its users to buy, sell, send, request and hold Bitcoin and Ethereum; deposit euros, via credit card or bank transfer; track their portfolio in real time and connect public blockchain addresses and crypto exchanges via APIs.

Digital security - (3/5)

In contrast to some other providers, OSOM Finance is state-licensed and has an Estonian license, which means that the company is officially authorized to trade in crypto. The Crypto Autopilot is powered by InvestSuite’s Portfolio Optimizer technology to build a completely diversified and automated crypto asset portfolio. This is totally different to many other trading bots on the market that utilize the Modern Portfolio Theory, which is over 50 years old. Instead, the Crypto Autopilot incorporates the Investsuite Value at Risk measurement – it calculates loss size, as well as the time needed to recoup losses. In addition to the above mentioned, Autopilot has a bounty program with HackerOne and several times a year 2 independent security teams do penetration testing with and without access to the source code.

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