Oinvest Broker Review
Our Oinvest review explores a reputable and dedicated South African broker that has won multiple awards.
Suitable for all types of traders, Oinvest offers extensive trading opportunities through a variety of asset classes. Whether you’re looking to diversify your trading portfolio or simply want to stick to currency pairs, this broker is a great choice.
Oinvest is a fantastic broker for beginner traders because they provide a significant number of outstanding training resources. They also offer a demo account where you can apply what you learn with no risk.
This broker also offers excellent customer support, a variety of account types, and periodic bonuses.
Keep reading our in-depth Oinvest review to learn all you need to know about working with this award-winning broker.
Learn more about Oinvest
Oinvest is the trade name of Basfour 3773 (Proprietary) Limited, which has been an authorized Financial Service Provider since 2010.
Headquartered in Umhlanga, South Africa, this online forex broker is dedicated to serving all types of South African traders.
Oinvest has won various awards, including the Fastest Growing Forex Provider South Africa, the Best Forex Broker Africa award, and the Best Multi-Asset Broker South Africa.
Strict security protocols and well regulated
Oinvest operates under Financial Services Provider license no. 42020 and is regulated by the Financial Sector Conduct Authority of South Africa under registration no. 2010/002719/07.
Our Oinvest review team found that this broker is dedicated to ensuring the safety of their clients’ funds. They have strict protocols in place, including segregating client funds from the company’s operational funds. This way, customer funds cannot be used to pay creditors in the event of the broker’s bankruptcy.
You can also be confident that your personal data is safe as Oinvest implements a wide range of cybersecurity measures. These include encryption of all data server communications and transactions, powerful firewalls, and SSL protocols.
Oinvest also protects your data through physical measures. Their data centers are protected by professional security personnel around the clock, thereby helping to prevent unauthorized access. Furthermore, only a small number of highly trusted employees can access your information.
This broker also takes steps to ensure clients are informed when they might be entering potentially risky trades. They analyze margin levels, positions, and the potential for loss, based on which they provide you with alerts if the system deems the trade as high risk.
Enjoy accounts customized for trading activity
Our broker review team found that Oinvest offers three types of accounts customized based on your trading activity and investment. These are Silver, Gold, and Platinum.
The Silver account is tailored for novice traders with a lower level of activity and investment than a professional trader.
The Silver account offers leverage of 1:200 on currency pairs, but the spreads are somewhat above average compared to other popular online forex brokers. At the time of this Oinvest broker review, the EUR/USD spread started at 2.2 pips.
The Gold account offers spreads that are in line with many popular brokers and the market average. The EUR/USD spread, for example, starts at 1.3 pips. This account also offers a 25% discount on overnight carry fees.
The Platinum account has very attractive spreads, with the EUR/USD starting at 0.7 pips and the GBP/USD starting at 1.3 pips. It also features a free VPS, news alerts, and a 50% discount on overnight carry fees.
Both the Gold and Platinum accounts offer leverage of 1:400, dedicated account managers and access to webinars and videos.
All three account types can be adapted for Muslim traders, meaning that there are no additional fees involved. They also permit hedging and offer customer support from 10 AM to 8 PM GMT.
Note that all account types come with a minimum deposit requirement of R3,500.
- Extensive range of trading instruments
- Excellent training and educational materials
- Popular trading platform MT4 available for web and desktop
- Various account types with good leverage
- Fantastic learning tools for beginner traders
- Above-average swaps
Take advantage of periodic bonuses
Our Oinvest review team discovered that this broker frequently offers attractive bonuses to their clients. To find out if a bonus offer is available and the details, check out Oinvest’s website.
Discover how much trading with Oinvest will cost you
Our Oinvest review team found that this broker won’t charge you any commissions on your trades. Some of the account types also feature attractive spreads.
While you won’t pay Oinvest any fees on deposits and withdrawals, you will be responsible for any fees your bank charges to transfer the money.
However, if your account isn’t active, or if you’ve only ever performed one trade, Oinvest may charge you a fee of approximately R810 on any withdrawal.
In terms of swaps, when our Oinvest team compared this broker’s fees with other popular brokers, they were a little higher than average. Once you consider the discounts provided with the Gold and Platinum accounts, though, you might find these fees far more attractive.
As with most online forex brokers, the swap fees differ based on the instrument. A complete list of the overnight carry fees Oinvest charges is available on their website.
Benefit from a variety of payment methods
Our broker review team tested some of the payment methods Oinvest offers clients. You can deposit and withdraw money via most major credit cards, bank transfer, Skrill, and Neteller.
In terms of duration, Oinvest promises that withdrawals will be processed within seven business days. However, you can only make a withdrawal if you have at 300% free margin available. The goal is to protect your account from a margin call, though it seems a little high.
Oinvest also states that, for withdrawals, they have to verify that the owner of the trading account must be the same as the person to which the payment is made. This is due to anti-money laundering requirements.
Therefore, this broker recommends that you submit a copy of your bank or credit card statement where you want the funds to be transferred before making a withdrawal request.
If you are using a credit card, you will have to provide Oinvest with a picture of both sides of your card, showing only the last four digits of the number.
Note that only verified account holders can make withdrawals. To verify your account, you will have to present a valid government-issued ID and proof of address, which can be a utility bill or a bank statement.
Enjoy trading on the market’s most popular trading platform
Our review team found that Oinvest’s website is user-friendly. Essential information is easy to access from the main menu, though some details can be hard to find.
The website also doesn’t have an FAQ section. While not a significant problem, FAQ sections can be quite useful for traders looking for information at a glance.
Registering for an account is relatively easy, though you will have to supply a variety of information, just like with any other reputable broker.
In terms of trading platforms, our Oinvest review team was pleased to see that this broker provides access to the desktop and web versions of MetaTrader 4, the world’s most popular trading platform.
MetaTrader 4 is a comprehensive trading system with extensive charting and analytical capabilities. Despite being so advanced, it is very user-friendly and easy to customize according to your preferred trading style.
You can use the extensive library of indicators it comes with, or you can program your own within the system. You also have the option of using expert advisors and robots, which you can likewise create yourself.
When it comes to executing orders, MT4 offers four different types of pending orders as well as one-click orders. You can even open a position right on the chart. Stop losses, trailing stops, and take profit orders are also available to help you minimize risk and maximize your profits.
You can also trade with the web-based version of MT4 using any browser. While it’s not as flexible as the desktop version, you still have access to all the important analytical and trading tools. It’s certainly an excellent option if you would prefer not to install software on the computer you are using for trading.
While reviewing Oinvest, our experts also found that this broker offers you other important trading tools, including an economic calendar and a company earnings calendar.
The economic calendar is essential, regardless of whether you prefer to focus on technical or fundamental analysis. This calendar provides a comprehensive list of when economic news releases will occur.
This information is vital, even if it’s just to serve as a warning that the market might make some major moves at that time. You might prefer to avoid the volatility, or you might want to trade it. Regardless, it’s important to know when it could happen.
The company earnings calendar provides the dates on which firms will release their earnings reports. These figures often drive the price of company shares, making it information you need to be aware of as soon as possible.
If you sign up for a Platinum account, you’ll also receive access to a free VPS and news alerts. The former offers a variety of benefits including heightened security and better speed, which is important if you engage in automated trading.
Trade from anywhere
The Oinvest website is mobile-responsive, so you can easily access it from any mobile device. You can check your account, browse the site, or get in touch with customer support from anywhere.
If you want to trade on your mobile device, our broker review team is pleased to report that you can do so easily, as Oinvest offers a mobile version of MetaTrader 4. This allows you to trade from any location and at any time.
Expand your trading skills with comprehensive training resources
During our Oinvest review, we were impressed with the wide range of educational and training resources this broker provides. They offer materials for all levels, from the fundamentals for beginners to advanced strategies for more experienced traders.
The educational content is also available in a variety of styles and formats. There are video courses, eBooks, in-depth articles, tutorials and more.
This broker also periodically provides educational webinars. These are ideal for beginners because you have the opportunity to interact with an experienced trader who can provide guidance.
Benefit from outstanding customer support
Our Oinvest review was pleased to see that this broker offers multiple communication channels for clients. The customer service team was knowledgeable and eager to help when we spoke to them.
However, the live chat Oinvest provides is dedicated to traders who already have accounts. It can, therefore, be challenging to learn more about the broker to determine whether they are the right fit for you.
Support is also limited since it’s only available Monday to Friday from 8 AM to 7 PM GMT. This can be a problem if you trade the Asian session or the late US session and encounter issues. However, for most traders, this level of support will likely be sufficient.
Start trading with this South African broker now
Our broker review team concluded that Oinvest offers an excellent trading experience and is dedicated to its customers.
While there are improvements to be made, such as providing extended customer support, they still provide everything you need for a great trading experience.
Oinvest is a great broker for any trader thanks to the wide range of tradable instruments, various account types, attractive spreads, and the extensive training resources on offer.
Sign up for an Oinvest account today so you can enjoy everything this broker has to offer.
Is Oinvest a regulated broker?
Oinvest is a licensed Financial Services Provider and is regulated by the Financial Sector Conduct Authority of South Africa under registration no. 2010/002719/07. Therefore, Oinvest is a reputable and regulated broker.
What account types does Oinvest offer?
Oinvest offers a Silver, a Gold, and a Platinum account, as well as Islamic versions of these accounts and a demo account. The Silver account is designed for beginners with a relatively low level of trading activity. The Gold and Platinum accounts are meant for traders with a higher trading volume and a more significant investment.
Does Oinvest offer a bonus?
Oinvest does offer bonuses on occasion, but you must check their website to see if any are available.
What is Oinvest’s minimum deposit?
If you want to open a live trading account with Oinvest, you will need to make a minimum deposit of R3,500.
Is Oinvest secure?
Oinvest is very secure. This broker employs a variety of cybersecurity measures, including fully encrypted server communications and transactions, SSL protocols, and powerful firewalls.
They also physically protect client information by ensuring their data centers are guarded and limiting access to the data to trusted employees.