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The Oinvest Forex broker: what do they offer?
The Forex industry is growing very quickly, so it is no surprise that more and more brokers are popping up left and right, seemingly on a daily basis. Oinvest is seemingly one of such companies, that sort of sprouted into the industry out of nowhere. The company comes from South Africa and states, loudly, on its website that it is a global company, providing services to countries all around the world. Except to write this Oinvest.co.za review we had to jump through a number of hoops. Why? Because the service is not available to certain parts of the world. But being the dedicated bunch of reviewers we are, we did some internet magic (and got in touch with our South Africa based colleagues). Conversely, we no have reason to believe that the broker, while not the best in the world, has cause to be considered one of the better ones in the region. Why? Well, let’s find out.
The first thing you notice, once you manage to get into the website, is the sort of mediocre design that it has. The website has a number of qualities that it takes from bigger, better and international brokers. A simple design with a large homepage showcasing some of the details about the company. Great! Except there are several problems. The first problem is the fact that the company doesn’t really showcase much information on the homepage, other than mentioning the fact that there is a platform to trade on and an educational platform. Oinvest South Africa has a terrible navigational menu, designed so simplistically and in such an ugly way, it would make you not want to navigate through the website at all.
Though you can navigate, which is more than we can say about some other local brokers. Though there is not much point to navigation – going through the different parts of the website does not provide you with any extra information that could be useful. You end up traveling to one ugly page after another. The information provided on these pages is very general and does not provide you with enough knowledge about withdrawals, deposits, and other operations you might be interested in conducting with the broker. The thing with Oinvest SA is that, despite claiming to be a global company, it does not provide the users with any other language options, other than English. This is a bad sign, but considering that the company caters exclusively to South African users, it makes sense. What is even worse though, is the fact that the English that the company has on their website is on the bad side. While it is not obviously misspelled, there are some sentence construction issues and grammar problems that indicate that the company might not have been created by someone who speaks English as their first language. Something that could be improved but is not a sign that Oinvest.co.za scam is a possibility.
Once you have navigated through the website enough, you will discover that the brokerage offers several tiers of account types. These are Silver, Gold, and Platinum. Three tiers are not the worst thing they could be offering. They specify several things on this page, which is a good thing to see when you are trying to write about the Oinvest Forex brokerage review. But there is a slight problem with this information: the spreads change the higher up in the tier list you go, becoming smaller. This encourages you to want to become a high tier user. The leverage also gets much higher as you go up the tier list – from 1:200 from the lowest tier to 1:400 at the highest.
This seems to be a way to encourage newcomers to the platform to invest a lot of money. The problem is, they do not specify how much money you need to invest to become a high tier trader. They simply say that with higher time and resources invested, you go up the tiers. This leads us to suspect Oinvest fraud, but after experiencing the service they provide, we are confident that there is nothing of the sort. They are simply trying to adapt their numbers to what you might be comfortable with investing. Maximizing their profits and yours is what we assume the reason is.
Currently, the company does not seem to be offering any kind of bonuses at the time, but this did not stop us from looking at and exploring the bonus terms that they offer. They specify, at one point in their terms, that for every 10 US dollars of a bonus they offer, the trader will have to make trades that earn around $180 000 to claim it. That is an exorbitant amount of money. It is very unlikely that anyone who signs up for a $10 bonus will be able to earn that much amount of money, especially with a 90-day limit (which they impose) from when the bonus is received. So, as a result, the OInvest rating currently sits at the lowest it could.
One of the most important qualities of a Broker is whether they have a license to operate within the borders of their country (or countries) that they are claiming to be operating within. The OInvest FX brokerage claims to be licensed by the FSCA. So we decided to double check – is OInvest FSCA regulated? We took the license number the company claims to be operating with, the name of their parent company and the OInvest name and traveled to the FSCA online resource. There we used all three to search for a related license. As a result, we have concluded, that the company is regulated by the FSCA. You might then ask, is OInvest FSB regulated? The answer, again, is yes. Because both of those things are the same thing. So the company does not have a license, which should help you realize that you should never, ever deal with them.
We did not even have to explore the minor details and features of the company to come to the realization that the company is nothing but a scam. We suggest you stay away not because OInvest Scam is possible, but because the broker has a long way to go. Whenever you see their name mentioned anywhere on the internet, make sure that they have made their service better. Hopefully, you will find this review useful in your future exploration of a broker to pick.
Let’s explore if an Oinvest Scam is a possibility in this review
Gearing up to
The Forex industry is growing very quickly, so it is no surprise that more and more brokers are popping up left and right, seemingly on a daily basis. OInvest is seemingly one of such companies, that sort of sprouted into the industry out of nowhere. The company comes from South Africa and states, loudly, on its website that it is a global company, providing services to countries all around the world. While this might be true and they do offer their services globally, the issue with the company lies within the fact that they are more of a well known secret rather than a popular Forex broker around the world. As a result, some people consider that an OInvest scam is a possibility, but we have many positive things to say about the broker, even if the broker is not good enough to be considered one of the best in the industry.
The first thing you notice, once you get yourself on the website, is the design. When creating the OInvest.com review we had a number of qualms with the design that we managed to get over in a little bit, after paying a little more attention. The website has a number of qualities that it takes from bigger, better brokers. A simple design with a large homepage showcasing some of the details about the company. Great! Except there are several problems. The first problem is the fact that the company doesn’t really showcase much information on the homepage, other than mentioning the fact that there is a platform to trade on and an educational platform. OInvest South Africa has a terrible navigational menu, designed so simplistically, it would make you not want to navigate through the website at all. But, the good news is the design works in that it allows you to get where you’re going and learn the kind of information you need.
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Some might there is not much point to navigation – going through the different parts of the website sometimes feels like a chore that does not provide you with any extra information that could be useful. You end up travelling to one ugly page after another. But, while the information provided on these pages seems very general, it does provide you with enough knowledge about withdrawals, deposits, and other operations you might be interested in conducting with the broker. The thing with OInvest SA is that, despite claiming to be a global company, it does not provide the users with any other language options, other than English and Arabic. This is a bad sign, means that the company needs to get to translating for international audiences. We are assuming that the lack of languages beyond English and Arabic is because the audience they cater to is relatively small, and not a sign of a lack of professionalism or that Oinvest fraud is a possibility.
Once you have navigated through the website enough, you will discover that the brokerage offers several tiers of account types. These are Silver, Gold, and Platinum. Three tiers are not the worst thing they could be offering, but the way they are offering these things is a little annoying. They specify several things on this page, which is a good thing to see when you are trying to write about the OInvest Forex brokerage review. The broker wants you to know several things: the spreads change the higher up in the tier list you go, becoming smaller. This encourages you to want to become a high tier user, as it should. The leverage also gets much higher as you go up the tier list – from 1:200 from the lowest tier to 1:400 at the highest.
This seems to be a way to encourage newcomers to the platform to invest a lot of money. The problem is, they do not specify how much money you need to invest to become a high tier trader. They simply say that with higher time and resources invested, you go up the tiers. This information can be easily gathered by simply getting in touch with the broker through their customer service email or phone number, or just by sending a message through the OInvest FX brokerage website.
The broker also offers a number of bonuses, while the bonus terms that the company offers can be easily found on the website. The broker does not seem to be offering any kind of bonuses at the time. Although the wording we found in their terms and conditions is enough evidence to say that they do indeed provide bonus offers to their users. We spent some time looking at and exploring the bonus terms that Oinvest offers. The broker specifies, at one point in their terms, that for every 10 US dollars of a bonus they offer, the broker specifies the exact multiplier of the bonus amount of money that the trader would have to trade in order to be able to claim it. This type of honesty and transparency is highly appreciated. It is very unlikely that anyone who signs up for a $10 bonus will not be aware of the information, but we still encourage to get to know the terms, especially the 90-day limit (which they impose) of time the trader has to trade the money within in order to be able to claim it, from when the bonus is received. Just a way for the company to get more trust from us.
One of the most important qualities of a Broker is whether they have a license to operate within the borders of their country (or countries) that they are claiming to be operating within. The question of is OInvest legit is answered by their claims that they are licensed by the FSCA. We decided to double-check – is OInvest FSCA regulated? We took the license number the company claims to be operating with, the name of their parent company and the OInvest name and travelled to the FSCA online resource. There we used all three to search for a related license, and we found the license of the company, which is the permission to operate within the country and offer their services to international traders as well. As a result, we have concluded, that the company is regulated by the FSCA and is trustworthy. Which we are going to use as another reason for you to want to trade with the broker.
Just from exploring the details about the company, as well as the general information about them in terms of their qualities, their reputation in the industry and so on, give us the right to say that the company is legit. Is Oinvewst trustworthy? Yes, they are, and we recommend them over many of the brokers that you might see on the internet. Just make sure you pay attention to the bonuses you are getting and the trading you do, and you should be fine.
|Operating since year:||2020|
|Address:||Suite C, Orion Mall, Palm Street, Victoria, Mahe,|
|Email:||[email protected], [email protected],|
|Availability:||Monday-Friday 3 AM – 2 PM GMT.|
|Trading platform Time zone:||GMT|
|Demo account:||Open Demo Account|
|Other trading instruments:||N/A|
|Minimum deposit ($):||250|
OINVEST REVIEW CONTENT
1. GENERAL INFORMATION: OINVEST BROKER
2. BROKER REGULATIONS AND SAFETY FUNDS
3. FEES, WITHDRAWALS AND DEPOSITS
4. TRADING CONDITIONS
5. TRADING PLATFORMS
6. TRADING TOOLS
7. OINVEST TRADING SOFTWARE
9. TRADING EXPERIENCE
10. OINVEST REVIEW CONCLUSION
GENERAL INFORMATION: OINVEST BROKER
Oinvest is a brand new broker that started working in the trading field in 2020. It is a brand name of its operating company –Aronex Corporation Ltd.
The broker tries to appease its clients and offers a variety of quite interesting trading features. Its users have the ability to trades with an impressive amount of asset classes, choose freely from Forex, Commodities, Cryptocurrencies, Indices, European Stocks US Stocks, and Australian Stocks.
Also, the broker itself has a very simple account opening process, as well as the ability to access different Account Types – Gold, Silver, and Platinum. However, these accounts differ depending on the volume of trading and the level of investment. To start the process of opening an account with Oinvest you can visit their website. Continue reading about OINVEST Review.
BROKER REGULATIONS AND SAFETY FUNDS
Habonix Solutions Ltd (Nicosia, Cyprus) and Aronex Corporation Ltd operate Oinvest.com. It’s a limited liability company under the incorporation of Seychelles laws, registered as 8417765-1.
This broker is regulated by the Seychelles Financial Services Authority (FSA), and its license number is SD014.
These regulators enforce strict rules on any broker they license. Also, all brokers under the jurisdiction of the regulators are obliged to maintain a certain minimum capital adequacy ratio, which gives traders additional security. In addition, the regulator keeps a public register of Authorized Financial Service Providers.
However, as a trader, you should remember that Seychelles is not among the strictest and most reputable regulatory entities. Nevertheless, it does provide a certain level of reliability. Also, for every single broker, it is very important to keep clients’ funds safe.
Outside of Seychelles they are owned by Aronex Corporation Limited, which is located at Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.
OINVEST WITHDRAWALS AND DEPOSITS
Oinvest accepts payments with a variety of major credit and debit cards, also e-wallets. Here are the ones that you can use: MasterCard, Visa, bank wire, Netteler, VPay, and Skrill.
Also, the minimum deposit in Oinvest is 250 USD. Honestly, it is not a huge sum, as it is generally an acceptable price. In addition, as a trader, you should remember, that a sufficient amount of minimum deposit can support a sufficient margin to sustain any significant moves against your position.
Oinvest offers only one account type. However, there are three account types – Silver, Gold, and Platinum. Trading conditions in each tier vary depending on the level of activity. Also, the minimum deposit is 250 USD or ZAR equivalent. The maximum leverage is 1:500.
When you open an account, you’ll have to provide the broker with these:
• A scanned color copy of your passport, driving license or national ID
• A utility bill or bank statement
You should have in mind, that in August of 2020 the European Securities and Markets Authority (ESMA) has stated that the maximum leverage allowed for forex trading is 1:30. However, it allows larger sums of leverage in the Seychelles Financial Sector Conduct Authority (FSCA), where Oinvest is licensed.
Moreover, the trader should remember that high leverage may help score good profit, it also makes all investments more vulnerable to trade market’s fluctuations.
OINVEST TRADING PLATFORM S
Oinvest is no exception and it supports MetaTrader4 as well as a lot of other brokers. However, you may know, that MetaTrader4 is the leader and the most well-known trading platform for the CFD (contract-for-difference) trading.
Besides, MT4 is quite different from the web trader, as it requires the download onto the client’s desktop. Also, it is completely free and offers several powerful tools that help out traders the most.
In addition, OINVEST investors can analyze prices and trends, manage their trades and positions. Besides, MT4 is often considered to be a platform for professionals, but it is easy enough for everyone. However, MT4 offers a variety of tools for trading scenario predictions with 30 different indicators and 9 timeframes. Also, this was made specifically for traders to easily recognize patterns and trends.
MT4 offers a lot of interesting features to its users:
1. Vast amounts of video resources for all types of traders.
2. MT4 has low system requirements nearly any device is compatible with it.
3. MetaTrader offers an active community of traders, expert advisors, and developers.
OINVEST offers traders many tools that they can freely use with the MT4 platform.
Here are the key features offered by MetaTrader 4 at OINVEST include:
- Execution orders – are quite easy. Also, traders have access to three types of execution modes. Besides, they can use two markets, and several stop orders. Moreover, traders can open trades directly from the built-in tick chart.
- Broad Technical Analysis – In addition, traders get a complete scenario with up to 9 timeframes and 30 indicators, that help recognize entry points and establish ideal trends.
OINVEST TRADING SOFTWARE
The broker offers traders a choice between their WebTrader, the infamous MetaTrader4, and their mobile app. In addition, investors have full access to up to 50 currencies, 18 commodities. over 350 trading instruments, 20 indices from Europe, and a wide range of 172 stocks.
Besides, each platform has its advantages and users can decide which they prefer.
This is a web-based trading platform that requires no downloads or installations. However, traders can connect to it through any internet-connected device. Which is great, when one wants to trade while outside the usual comfort zone, home or during traveling.
Also, Oinvest’s WebTrader platform offers live analysis charts, visual trends, trading cubes, and demo accounts.
Oinvest’s mobile trading app is available to download on Google Play and iOS App Stores. Besides, the app is compatible with both IOS and Android devices and brings along all the features of the web trading platform. Also, the trading interface of the mobile app is user-friendly, so trading is quick and pleasant. Moreover, it is quite easy to manage open investments and positions through the app anywhere and anytime.
Even though, education is very important for trading, the true success comes from knowledge and practice. However, Oinvest makes sure all users are fully knowledgeable and offers them a quite an impressive amount of comprehensive educational material. Moreover, there is also a small selection of courses for beginner traders. In addition, they include a few short articles on the local Forex industry.
Oinvest’s educational material is split into three main sections: VOD, e-books, and webinars.
1. VOD, Video on Demand, is a section of a wide selection of short videos dedicated to trading. Besides, these videos are mostly 30 seconds long and cover the basics of trading. The broker offers strategies, patterns, technical analysis, MT4 usage, trading terms, etc. However, Oinvest’s VOD is perfect for those who prefer visual and video format of education. The VOD is available to non-account holders.
2. eBooks – Oinvest offers eBooks to non-account holders. However, for full access users will have to open an account. Also, the e-library offers a wide selection of books covering the basics of trading with forex, commodities, CFDs, and futures.
3. Analysis Material – Unfortunately, unlike other brokers Oinvest does not offer any regular FX analysis material.
4. Webinars – Oinvest holds regular webinars for clients on various aspects of Forex trading.
5. Tutorials – There three structured tutorials on trading tools, futures contracts, and commodities. Much like the eBooks, these are only fully accessible for Oinvest account-holders.
Overall, the online broker Oinvest offers a pleasant trading experience for beginner traders. Also, the company, offers a simple trading offering. However, all types of traders will be able to enjoy this broker. Oinvest provides its clientele with a wide range of asset classes, Australian Stocks, Indices, Commodities, Cryptocurrencies US Stocks, European Stocks, and Australian Stocks.
Also, the broker offers 3 types of Account Tiers with the best spreads reserved for higher volume and high investment traders. In addition, users will also receive better swap (overnight) rates which are much higher than the industry average. However, there is one thing, Oinvest targets mainly local traders. It does not accept clients from the US, Canada, Israel, Iran, Syria, North Korea, Australia, Cuba, Sudan, as well as EU countries.
OINVEST REVIEW: CONCLUSION
Oinvest is trying hard to develop and shape itself as a decent brokerage. It exclusively focuses on Seychelles.
The broker offers quite a sufficient amount of trading platforms and tradable assets. Besides, the website is user-friendly and quite simple. However, it is also worth pointing out that for some reason, the site of the broker seems somewhat haphazardly tossed together. Besides, our detailed Oinvest review, revealed several advantages and disadvantages:
- Impressive amount of educational material
- Users have an opportunity to trade on MT4 for PC, Web, Android and iOS operating systems.
- Broad range of tradable assets, Stocks, Indices, Commodities, and Cryptocurrencies.
- High maximum leverage
- Not available in many countries
Thank you for taking your time and reading our OINVEST review. We hope it was helpful!
However, in case you need more information on the broker, feel free to do further research. Also, we hope this OINVEST review was helpful, and we wish you good luck trading!
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