Oinvest is a South African forex broker regulated by the Financial Sector Conduct Authority (FSCA) under the license no. 42020. They offer traders the opportunity to trade with over 350 CFDS in commodities, indices, shares and cryptocurrencies. Users can trade with Oinvest in more than 20 countries worldwide, but they appear to mostly appeal to South African traders – claiming to be the leading broker in South Africa.
The choice that was missing from types of accounts, Oinvest makes up for when it comes to types of trading platforms. They offer investors the ability to choose between their WebTrader, the infamous MetaTrader4 and their mobile app. Each platform has its advantages and users can decide which they personally prefer.
Oinvest Minimum Deposit
On all platforms listed below, investors have full access to over 350 trading instruments including 50 currencies, 18 commodities like gold, oil or coffee, 20 indices from Europe, the US and Asia, as well as a wide range of 172 stocks from top international companies. The standard leverage available is 1:200.
Oinvest minimum deposit to begin real trading is R3,500.
WebTrader
As the name suggests, the WebTrader is a web-based trading platform that requires no downloads or installations but can be accessed directly through any internet-connected device. The key features of Oinvest’s WebTrader platform are the live analysis and charts, trading cubes, visual trends and of course, the demo account they offer.
MetaTrader4
The MetaTrader4, commonly known as MT4 is one of the most famous and top downloadable trading platforms. It requires download onto your desktop (which is completely free) and it offers several powerful features that put traders in full control. With MT4, investors can analyze prices and trends, manage their open positions and easily place trades. The key features offered by this platform are broad technical analysis and easy execution orders. These mean traders can envision a complete scenario with 30 indicator and 9 different timeframes that helps them easily recognize trends and establish ideal entry and exit points. They also have access to three different execution modes, as well as 2 market, 4 pending and 2 stop orders. MT4 is often considered to be a platform for professionals, but it is in fact easy enough for everyone.
Mobile App
Finally, Oinvest offers trading on-the-go with their free mobile app, available on both the App Store and Google Play. Trading on your mobile is practical trading that allows you to easily manage your open positions and investments anytime and anywhere you may be. The Oinvest mobile app is designed for both IOS and Android devices and brings along all the features of the web-trading platform.
Oinvest Demo Account
In the process of reviewing this broker, we discovered that they do not offer specific account types that users can choose or eventually upgrade to. This is common practice for most brokers and gives users the ability to choose the type of trading they prefer – depending on experience and personal preference of course. Taking that into consideration, this is definitely something missing when it comes to the “leading South African broker”.
Oinvest offers investors the opportunity to practice trading risk-free through their 14-day demo account. Users can create multiple demo accounts to test out Oinvest’s platform or trading strategies and all of them are completely free. Once they feel confident enough to begin trading with real money, they simply make their first deposit.
Oinvest makes sure all users are fully educated before beginning their trading journey, by giving them full access to their comprehensive online education center. Investors can easily become familiar with the basic principles of financial trading through their eBooks, extensive courses, tutorials, VOD and webinars. Whatever your experience may be, Oinvest offers an academic center for all.
Oinvest Complaints
In case of Oinvest complaints, or if users have any questions or issues, they can contact the customer support at Oinvest via phone, email or by filling their online contact form. They offer two different numbers, a US number and a South African one and are available Monday – Friday, 08:00 – 20:00 SAST.
Oinvest is owned and operated by Basfour 3773 Limited, which is located at Mandela Roads Place, Corner Wale Street and Burg Street, Cape Town, 8000 South Africa. They accept various payment methods such as Visa, Mastercard, Maestro, Skrill, Neteller and VPay.
Oinvest Scam Or Not
Oinvest is definitely not the lead broker for users in South Africa they claim to be, but they do have certain features to offer. They are a regulated broker, which is always important, but through our review we noticed some things are missing, like account types and no live chat. We are not sure is Oinvest scam or not, but investors should always be cautious either way and only choose the best when it comes to investing their money with a broker.