Oinvest Review
Oinvest is a newly established broker based in South Africa. Owned by Basfour 3773 (Proprietary) Limited, Oinvest’s head office is located at Cape Town at Mandela Roads Place, Corner Wale Street, and Burg Street. The broker specializes in providing its traders with online trading for Contracts for Difference (CFDs). Traders at Oinvest will have the opportunity to trade in a wide range of financial assets such as forex, commodities market indices and cryptocurrencies. The range of cryptocurrencies covered includes popular cryptocurrencies such as Bitcoin, Dash, Ethereum and Ripple. In addition, apart from being able to offer a wide range of financial assets for their traders to trade in, Oinvest also offers a safe and secure trading environment for their clients to conduct their online trading activities.
Oinvest Video Review
VIDEO
Regulations
As a financial services provider that is based in South Africa, Oinvest is regulated by the Southern African Financial Sector Conduct Authority (FSCA). Formerly known as the Financial Services Board (FSB), the FSCA is tasked to monitor the non-banking financial sector and it ensures that entities under its jurisdiction comply with all the relevant regulatory requirements as well as legislation. Its regulatory authority is derived from the Financial Sector Regulation Act (FSR Act).
Reliability
As for the reliability of Oinvest, the broker only recently became operational. As such, there is very little operational history for us to review in order to be able to gauge the extent of the broker’s reliability. Nevertheless the fact that Oinvest has undertaken to be fully regulated by the FSCA, shows that the broker is serious in winning over the trust of the online trading community.
Oinvest Trading Platforms
For online trading access, Oinvest has adopted the online industry standard trading platform called the MetaTrader 4 (MT4). The MT4 online platform is the most widely used platform in the industry due to its reliability and a wide range of integrated trading tools. For example, the MT4 comes with a comprehensive charting package which provides a good overall view of the trading conditions on the market.
The MT4 is available as a desktop client or a browser-based WebTrader. With the former, you will be required to download and install a client software before you can run the trading platform. With the latter version of the MT4 trading platform, you merely need to use any updated web browser to access the MT4 WebTrader.
Oinvest Mobile Trading
In addition to the desktop and web-based version of the MT4 trading platform, you can also download mobile versions of the MT4 from Google PlayStore and Apple App Store. These mobile apps will enable you to trade the market directly from your smartphone. The apps also support multiple order types to give you better control over your trading activities such as setting your stop loss and profit levels.
Trade Types/Instruments
As for the type of instruments offered by Oinvest, the broker specializes in CFDs. The markets covered under their CFD offerings include currency pairs, commodities, market indices, and stocks. In total, there are 49 currencies pairs, 18 types of commodities, 20 market indices and 172 different types of stocks covered by Oinvest.
Account Types
For the trading account, Oinvest has only a standard type of trading account. While there is no specified minimum deposit requirement to open a trading account at Oinvest, traders are highly recommended to deposit at least $250 to enable them to carry out a meaningful trade.
With an Oinvest trading account, you can trade with a leverage as high as 1:500. This will enable you to make the most of your limited trading capital using the most aggressive trading strategies. It should be noted that since the maximum leverage of most European brokers has been capped to 1:30 by the European Securities and Markets Authority (ESMA), Oinvest remains one of the few major brokers around the world that still offer a leverage ratio in excess of 1:100.
Commissions & Spreads
Oinvest doesn’t charge any commissions on the trades that its clients execute on the broker’s trading platform. Instead, they are required to pay a small spread. The spreads are variable and competitive with the minimum spread as low as 0.7 pips.
Deposits & Withdrawals Options
For deposits and withdrawal of funds, Oinvest offers more than half a dozen different methods. These methods include bank wire transfer, major credit cards, and eWallets.
Bonus & Promotions
At present, Oinvest does not have any kind of trading bonuses or promotion on offer.
Customer Support
The customer support service at Oinvest is available 24 hours a day 5 days a week. Traders can contact the support team through email, live chat or the telephone. For telephone support, the service is available Monday to Friday 8 am to 8 pm (SAST).
Pros and Cons
Pros
24 hours professional customer support
3 versions of the MT4 trading platform
Regulated Broker
A wide range of assets
Comprehensive Trader’s education
Cons
Limited countries can access the website
Lack of information on the trading condition
Oinvest Q&A
Yes. Oinvest is a regulated broker under the South African Financial Sector Conduct Authority (FSCA), the regulatory successor to the Financial Services Board (FSB).
Oinvest is a South African based broker. The broker head office is located at Cape Town at Mandela Roads Place, Corner Wale Street, and Burg Street.
How does Oinvest make money?
Oinvest makes its money by charging its clients a small spread on the trades that they executed on the broker’s trading platform.
How do I deposit in Oinvest account?
You can deposit your money in your Oinvest’s trading account through bank wire transfer, credit cards or eWallets.
How do I withdraw money from Oinvest?
Withdrawal of funds from Oinvest is in accordance with international anti-money laundering regulations. This means your funds must be withdrawn using the same methods that were initially used for depositing into your Oinvest trading account.
How do I open an account with Oinvest?
To open a trading account at Oinvest, you simply need to fill up a registration form and submit it with all the required documents for verification.
Yes. Oinvest is a reliable broker as it abides by the regulatory requirements imposed by the FSCA.
Does Oinvest use MetaTrader?
Yes. Oinvest uses the popular MetaTrader 4 trading platform developed by MetaQuote Software.
What is Oinvest leverage?
The maximum leverage offered by Oinvest is 1:500.
No, Oinvest is not a scam. It is a legitimate broker that is licensed and regulated by the FSCA.
Oinvest is a safe broker as it complies with all the regulatory requirements imposed by the FSCA. In addition, the broker also operates in accordance with the international industry standard.
Conclusion
In conclusion, Oinvest offers traders in South Africa a safe and secure trading environment by virtue of the fact that it is regulated by the South African Financial Sector Conduct Authority (FSCA). While it cannot be denied that the regulatory environment in South Africa is not as robust as those in Australia, Europe or the USA, it does provide a minimum level of reliability compared to unregulated brokers in the region.
In addition, Oinvest also offers its traders a decent level of services and product offerings. With more than a hundred different types of financial instruments to trade with, traders at Oinvest are definitely spoilt for choice.
