Oinvest : Online brokerages offer the convenience of trading from wherever one wishes, or maybe on the go. Many such brokers are operating within the market, combining value with selection and high-quality tools to supply their users with the simplest trading experience possible.
Brokers can differ from each other on the idea of the amount of currency pairs on offer, leverage also because the regulatory agency they’re under. this is often why it becomes essential to guage the standard of a specific online brokerage before using their services. due to the influx of fraudulent sites masquerading as online brokerages, it’s become even more imperative to see for the legitimacy for every brokerage.
Olnvest may be a South Africa based broker founded in 2018. Owned by the parent company, Basfour 3773 (proprietary) limited, the corporate has its head office based in Cape Town . OInvest is one among the few reputed brokers who offer online trading facilities for CFDs, along side other trading instruments, like Forex, commodities, indices and cryptocurrencies. Popular cryptocurrencies like Bitcoin, Dash, Ethereum and Ripple, all have markets with the broker. They also put great emphasis on the safety of users during their online trading activities. Overall, they promise their users a comprehensive trading solution which takes care of all the trading aspects.
Oinvest License & Regulations Review
As mentioned before, regulatory compliance becomes a serious determining factor for selecting a brokerage. this is often thanks to the amount of frauds and scams conducted earlier by variety of faux brokerage sites. it’s thus recommended to settle on a brokerage which is regulated either by a national or international administration .
Olnvest is predicated out of South Africa and is thus regulated by the Southern African Financial Sector Conduct Authority or FSCA. The FSCA (formerly the FSB) is liable for regulating all non-banking financial entities, ensuring that the entities under its jurisdiction are in compliance with the prevailing regulatory and legislative directives. It follows the Financial Sector Regulation Act or FSR of the South African judiciary .
OInvest is registered with the licence number 2010/002719/07 under the FSCA.
The South African version of the location “oinvest.co.za” can’t be accessed from variety of nations , because it is solely meant for South African users. The registration page is straightforward and easy , where users are required to input their first and surname , followed by an email address and mobile number.
OInvest features a number of various offerings for his or her users but their trading account has just one standard type. While the platform itself doesn’t specify any minimum deposit while opening an account, it’s recommended to deposit a minimum of R3500 for a pleasant trading experience. this is often probably one among the disappointing aspects of this platform, as brokerages have a tendency to supply variety of flexible account types for traders to settle on from.
The maximum leverage allowed on the trading platform is 1: 500, enabling users to form the foremost of their limited trading capital by implementing aggressive trading strategies (T&Cs apply). OInvest has the advantage of offering up to 1: 200 leverage as compared to brokers registered under the EU. this is often due to the utmost leverage allowed for European brokers, which has been limited to 1:30 by the ecu Securities and Markets Authority or ESMA. (T&Cs apply)
OInvest offer variety of options to their users when it involves trading platform like WebTrader, the infamous MetaTrader 4 also as their official mobile app for trading on the go. All of the platforms mentioned have access to over 350 trading instruments consisting of 18 commodities like gold, oil and occasional , 50 currencies, 20 indices and 172 stocks.
Spreads and Leverage: OInvest comparatively offers a good choice of investment options to their users, including CFDs on Forex, commodities, cryptocurrencies and indices. It also includes stock shares of the planet biggest public companies like Google, Lockheed, Barclays, Apple, ABB, Facebook, Tesla , Tesco, Fiat, Loreal and Amazon. Currency pairs include EUR/USD, USD/JPY, EUR/GBP, AUD/USD also as minor pairs like EUR/ZAR, USD/ZAR and USD/INR. (T&Cs apply)
Spreads are kept comparatively low, fixed at 0.9 pips on EUR/GBP pair, 0.7 pips for EUR/USD and 0.8 pips for USD/JPY. For participating in indices and commodities trading, the spreads are decreased to as low as 0.0007. Popular cryptocurrency pairs include BTC/USD, BTC/GBP, NEO/USD, and ETH/EUR among others, all of which have a floating spread.
Trading Platform Review
As mentioned before, OInvest is compatible with WebTrader, MetaTrader 4 also as their official mobile app. Each of the platforms are described in short below.
MetaTrader 4: MetaTrader 4 is perhaps one among the foremost popular and heavily used trading platforms within the community. It are often downloaded straight to a user’s desktop and is provided with variety of powerful features for increasing user control on their trades.
MT4 allows investors to analyse prices and trends, manage their open positions and place trades easily. MetaTrader 4 provides broad technical analysis and straightforward execution orders , allowing traders to simply recognise trends and establish ideal entry and exit points by using 9 different timeframes and 30 indicators. MT4 also provides three different execution modes, also as 4 pending 2 stop and a couple of market orders.
WebTrader: WebTrader may be a web-based trading platform which is operational with none downloads or installations, requiring just a lively device with internet connectivity. Some standout features provided by WebTrader are the trading cubes, visual trends, live analysis and charts. They also provide a demo account for novice users to urge familiar with the system.
Mobile App: OInvest also offers their official mobile app for “on the go” trading, available in Apple’s app store also as Google’s Play Store. It allows users to simply manage their open positions and investments regardless of where they’re . it’s compatible with both IOS and Android operating systems, providing all the features of the online trading platform.
Deposits and Withdrawals
OInvest provides several options to users for funding their accounts, also as for withdrawals. the complete details of the choices are included within the website’s FAQ page. OInvest accepts deposits using VISA, MasterCard, Maestro, Skrill, Neteller and VPAy. However, requests for withdrawals can only be submitted from the client area of the brokerage.
A demo account are often an excellent way for novice traders to urge the hang of the trading markets and experiment with variety of various trading styles. OInvest features a risk-free 14 day demo account, where users can create multiple demo accounts to check the system out. It includes virtual money also as all the functions available in real accounts.
OInvest features a separate education page crammed with educational resources for his or her users before starting to trade. This comprehensive education centre provides information on the essential principles of trading, including eBooks, extensive courses, tutorials, webinars, etc. Providing educational resources encourages users to brush up their knowledge about the nuances of online trading.
OInvest provides customer support via phone or email. All the user has got to do is fill out a web contact form and await a response which is typically on time. Customer support is out there Monday through Friday from 8 am to 8pm SAST. they provide a US based also as a South Africa based helpline number. the very fact that there’s no live chat option for users can affect the standard of their customer service responses.