Why not try XM
XM Broker Review
Why not try XM
XM Broker Review
|Withdrawal fee amount:
|Inactivity fee charged (Y/N):
|Number of instruments:
|Time to open account:
|Demo account provided (Y/N):
|Countries of regulation:
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.
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.
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:
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’.
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.
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; firstname.lastname@example.org. Typically, emails are replied to within 24 hours.
With over 4,000 brokers active globally, it’s good to share your experience with others. Spread the word on good or bad brokers. Disclaimer: Comments on this site are not the opinion of WeCompareBrokers and we are not responsible for the views and opinions posted by site users. If you are unhappy with any comments, please email complaints @ wecomparebrokers.com
Important: You (the person writing the comment) are responsible for any comments you post and use this site in agreement with our Terms.