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Oinvest Broker Review

Review By: Alan Little Review Updated: June 16, 2020

Address: Suite C, Orion Mall, Palm Street, Victoria, Mahe

Forex ETF Stocks CFD Crypto Commodities

Spread

From 0.7 pips

Max. Leverage

1:400

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Spread

From 0.21 pips

Max. Leverage

1:50

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Spread

From 0.21 pips

Max. Leverage

1:50

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Spread

From 1 pip

Max. Leverage

1:125

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Spread

Floating

Max. Leverage

1:2

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Spread

From 0.0041 pips

Max. Leverage

1:125

Deposit Protection

£85,000 GBP

Min. Deposit

$250 USD

Our Overall Rating

Rating 3.8
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Oinvest is an online forex and CFD broker that offers over 250 trading instruments for trading on the MT4 platform. The brand is owned and operated by ‘Basfour 3773 (Proprietary) Ltd’; which is a company based in Cape Town, South Africa. The broker began operations in 2018 but has gained reputation and popularity because of its robust services.

In 2018, the broker was honoured with the ‘Best Multi-asset broker’ and also the ‘Fastest Growing Forex provider’ awards.

Commissions & Fees

Rating

Oinvest operates the market maker brokerage model. The broker charges no commissions because all its trading fees are incorporated into the spread. Only one Standard account is available but it is tiered into Silver, Gold and Platinum. Generally, there is no stated minimum deposit but clients receive account tiers based on the initial deposit and account balance.

  • Silver account is the lowest account tier with additional features. It has the widest spreads and the lowest leverage compared to other account tiers.
  • Gold accounts have even better trading conditions with a swap discount of 25%, lower spreads and higher leverage.
  • Platinum account holders receive the best available spreads, free VPS, news alerts and 50% swap discount.

Swap free Islamic accounts are available to all tiers. Free demo accounts are available without limitations.

The benchmark EURUSD spread starts with 0.7 pips which is very competitive with reference to other brokers. The maximum leverage is 1:400 which is also high especially with the leverage restriction imposed on the European and American brokers by the regulatory agencies.

Oinvest does not charge commissions on deposits and withdrawals. The only charges imposed are the payments processors fees. This is unlike some competitors that charge commissions on deposits and withdrawals.

The assets index comprises of 50 currency pairs made up of the major, minor and exotic pairs, 20 indices, 18 commodities, 33 cryptocurrencies and up to 172 stock CFDs. For a new broker, this asset listing is impressive.

Platforms & Tools

Rating

The MetaTrader 4 (MT4) is the most widely used trading platform among forex and CFD traders in the world today. The platform was developed in 2005 by ‘MetaQuotes Software Corporation’ which is a Russian firm with headquarters in Cyprus. The MT4 is popular because of its complex capabilities, speed and powerful tools for trading and analysis. It is also user friendly and can be customized to only display the traders’ favourite assets, colours, layouts and windows.

Oinvest provides the desktop version of the MT4 which is downloadable for windows computers. Also available is the WebTrader version of the MT4 which is accessible online from the Oinvest website. The MT4 WebTrader needs no downloads and it runs on all operating systems and on all devices provided it has a web browser. Oinvest also provides the mobile versions of the MT4.

Let us look at some of the features of the MT4:

  • It displays the charts of all instruments against 9 timeframes ranging from 1 week to 1 month.
  • Comes preloaded with 30 technical indicators and 24 analytical tools.
  • Supports multiple order types including 4 types of pending orders, 2 market orders, and 2 stop orders.
  • It supports the creation and deployment of Expert Advisors (EAs) which automates forex and CFD trading.
  • From the platform, traders can access the MetaTrader market, where EAs, indicators and other tools can be bought or acquired at no costs.



 

One of the tools available on the Oinvest website is the ‘Economic Calendar’. This is an important trading tool used in fundamental analysis. The calendar shows the dates and times when important events, reports, speech, news releases, etc will take place. These events are known to have impacts on the markets. Analysts’ forecast on the impact percentage as well as the history and currency affected are all analyzed on the economic calendar. Oinvest provides this calendar on its website and it is powered by ‘MetaQuotes’.

Customer Service

Rating

The Oinvest customer help desk is available from 8am to 8pm; Mondays – Fridays. The fastest way to receive a quick response is through the instant web chat facility on the website. The support assistants are swift, knowledgeable and courteous. Two support phone lines are listed: a South African phone number; +27 21 518 0099 and a UK phone number; +44 203 966 2929. A ‘Contact us’ form is available on the website. This is designed for website visitors to use in reaching out for help.  Clients or website visitors also have the option of contacting the management directly. A form to this effect is provided on the website.

The support desk can also be contacted via email; [email protected]. Typically, emails are replied to within 24 hours.

 

Research

Rating

Oinvest has no contents on market news, technical research, MT4 plugins, or daily analysis. As a relatively new broker, there may not be a team of expert analysts at the moment. But, it is necessary because most of the top rated brokers have in-house experts who provide daily technical and fundamental analyses, market news, trading insights and even trading signals. Some of these brokers partner with research firms like ‘Trading Central’ to bring quality analysis and trading ideas to their clients. Perhaps with time, this important service will be added.

Oinvest has a comprehensive education centre on its website. It comprises of ‘Video on Demand’ (VOD), eBooks, tutorials, and courses.

The VOD comprises of 28 videos categorized for beginners and advanced traders. Also, there are terms, strategies and MetaTrader tutorials.

There are 9 eBooks on the website. The books concentrate on teaching newbies about forex trading, trading psychology, market analysis and capital management.

The ‘Tutorials’ section consists of 11 videos on how to use the MT4 on both desktop and mobile.

‘Courses’ section has 34 short videos focusing on trading tools, strategies, economics and social trading. The videos are animated, short and very interesting.

Ease of Use

Rating

The Oinvest website is professionally designed with matching colours, quality graphics and very easy to use. The website is also optimized for viewing on multiple web browsers and devices. We tested the website on multiple devices and the pictures and texts resized accordingly to fit on smaller screens. The drop-down navigation style utilized makes it easy to find any webpage. The footer navigation provided is also very useful.

 

It only takes a few minutes to open a live trading account with Oinvest. It is apparent that the broker is targeting the South African market because the website is not accessible from other countries. To create an account, visit the website (www.oinvest.co.za) and click on ‘Open account’. Fill your name, phone number, email, choose password and click on ‘Continue’ to load the next page. Your account is created and you are logged onto the Clients’ area.

Next, you are prompted to make a deposit and start trading.  The payment options available are: Credit and debit cards, Skrill, Neteller, VPay and bank wire transfers. Most of the payment methods are processed instantly except for bank transfers which can take up to 5 working days.

It was only when we had created a real account and logged into the clients’ area that we discovered that demo accounts can only be created from this area.

 

Mobile Trading

Rating

Oinvest clients can trade, monitor and analyze the markets while on the move. This is courtesy of the MT4 mobile apps which are available on android and iOS devices. The apps can be obtained from the respective app stores. The app interface is intuitive and easily customizable.

From the app, traders can monitor the market prices in real time because the ‘Quotes’ tab displays the ‘bid’ and ‘ask’ prices of all the tradable assets. Charting is done using 3 chart styles and 9 timeframes; M1, M5, M15, M30, H1, H4, D1, W1 and MN. It comes with 30 inbuilt technical indicators which are used in technical analysis. There are about 24 drawing tools. Traders can easily enter positions, modify or close them using multiple order types, pending orders, as well as risk management tools like ‘stop loss’ and ‘take profit’.

Robo Trading

The MT4 is renowned for allowing traders to automate their strategies by scripting Expert Advisors (EAs) also known as robots. This is achieved through the integrated MetaQuotes Language (MQL) editor which is based on the C++ programming language. Traders can create, back test and deploy EAs on the MT4 platform. Through the MQL markets or independent sources, traders can also buy and then install robots into their MT4 platforms. EAs eliminate the need to constantly monitor the markets looking for a trading opportunity to enter or exit trade positions.

Crypto Currency

Oinvest gives access to trade cryptocurrency CFDs. Up to 33 crypto assets are available. This number is high when compared to other brokers. Bitcoin, Bitcoin SV, ADA, Dash coin, Ether, IOTA, Litecoin, NEO, QTUM, Swisscoin,  Stellar Lumens, Monero, Ripple, Verge and Zcash are some of the cryptos tradable on the Oinvest MT4 platform. Remember that your aim is to make profits on the price fluctuations of these cryptocurrencies. You are not actually buying and owning the crypto coins.

Regulatory details

Oinvest prohibited countries:

Australia | Canada | Cuba | Iran | Israel | North Korea | Sudan | Syria | United States

Oinvest is operated by Basfour3773 (Proprietary) Limited, which is a South African licensed Financial Services Provider with license no: 42020. The regulator mandates Oinvest to maintain clients’ deposits in segregated bank accounts. This means that investor’s money is not mixed up with broker’s funds. The money is separated in such a way that even if Oinvest encounters a financial crisis, the segregated funds will not be used to bailout the broker, rather it will be returned to the clients.

In compliance with the regulatory stipulations, Oinvest maintains a digitally secure environment. This is achieved by maintaining dedicated servers protected with firewalls and a backup system. The broker has also implemented the Secured Socket Layer (SSL) technology. This encrypts all user data before it is transmitted over the internet. So, clients are safe from internet hackers and fraudsters whose aim is to steal clients’ credit card information or other important data.

The broker states that it abides by the ‘Anti Money Laundering’ (AML) and ‘Know Your Customer’ (KYC) policies. That is why new clients are made to undergo the KYC verifications. All clients are mandated to upload an identity card as well as a utility bill. The overall aim of this is to verify everyone’s identity in order to make sure that no one is using Oinvest as a pretext to launder stolen money or fund terrorist activities.

On their website:

Forex and CFDs are leveraged products and involve high level of risk. Trading on such products may result in loss of your invested capital. Past Performance does not guarantee future results. Please ensure that you fully understand the risks involved before entering into any transactions. You must seek independent advice if necessary. You should never invest more than what you are willing to lose. Make sure that you fully understand the policies and terms and conditions of the company.

Final Thoughts

As a new player in the industry, Oinvest is on the right path. With FSCA regulation, the broker has entrenched its credibility as a genuine broker. Clients’ investments are safe and a secured trading environment is provided with modern security technologies.

It is rare for a new broker to waive deposit fees and offer very tight spreads without charging commissions at all. This policy leaves one to wonder how Oinvest could be contented with so little trading fees.

The choice of the versatile and powerful MT4 is commendable as it has become an unofficial standard among traders and brokers. The platform is good for newbies and even perfect for professionals and experts. Its availability on mobile, web and desktop platforms and its scalability makes it an excellent choice.

Another area where Oinvest performed excellently is in the area of trader education. The training courses presented are suitable to transform a newbie to a very high level of knowledge and expertise. A total of 73 videos and 9 eBooks are provided. This collection is very huge when compared to what most top-rated brokers offer.

Though there is still room for improvement, Oinvest has so far proved to be a regulated, reliable and a trusted broker. We therefore recommend the brand to all forex and CFD traders.


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