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Oinvest
Rating: Rated with 2.5 stars
Binary Option Programs Award
Min. Deposit
R3,500
Min. Investment
N/A
Regulated Broker
Yes

  1. Oinvest

    Oinvest is South African forex broker that is regulated by the Financial Sector Conduct Authority (FSCA) with the license no. 42020. They offer South African investors the chance to trade over 350 CFDs in forex, cryptocurrencies commodities, indices and shares.

    Oinvest proudly claim to be the leading broker in South Africa.

    As usual, our team never takes anyone’s word for it – so we decided to look into Oinvest ourselves and discover whether they are in fact a leading broker, or if they are yet another scam in the industry with empty promises.

    Read our full review and verdict on Oinvest below.

    Account Types

    We were disappointed to discover that the “leading broker in South Africa” does not offer a trading account selection. This is pretty common for most brokers and allows users to choose an account based on experience, personal preference and deposit.

    Oinvest offers only one trading account, with the minimum deposit to access it being R3,500.

    Demo Account

    Oinvest offers a 14-day free demo account so South African users can easily practice entirely risk-free before investing any real money. A demo account is not only convenient in order to test a broker’s platform before investing, but it is especially useful for new traders who want to practice trading with virtual money to see how it works.

    Trading Software

    Oinvest has three different trading platforms available for users to choose from: a WebTrader, the infamous MetaTrader4 (MT4) and their own mobile app.

    Through all these platforms, South African investors will have the opportunity to trade over 350 instruments which include 50 currencies, 18 commodities like gold, coffee or oil, 20 indices from the US, Europe and Asia and 172 stocks from top international companies.

    The standard leverage available is 1:200.

    Each trading platform is listed below.

    WebTrader

    As the name suggests, Oinvest’s WebTrader is a web-based trading platform that can be accessed directly through their website. This means no downloads or installations are required.

    The Oinvest WebTrader is an easy-to-use platform for all traders, no matter their level or experience.

    MetaTrader4

    The MetaTrader4, famously known as MT4, is one of the world’s most popular trading platforms. Its powerful interface and large collection of tools require it to be downloaded in order to be used.

    This trading platform is commonly associated with more professional traders, when in reality its user-friendly interface can be easily used by beginners as well.

    Mobile App 

    For direct and easy trading on-the-go, many South African investors choose to trade with the Oinvest mobile app. This allows users to check markets and open trades anytime and anywhere they may be and quickly act on any opportunity.

    The Oinvest mobile app is available on both Google Play and the App Store.

    Education 

    Oinvest offers South African users an extensive online education center to be fully educated before investing any money. This is extremely important, because trading always entails some risk and any traders who are not aware of the terms or process involved, should always make use of such resources.

    Oinvest has eBooks, tutorials, online courses, VOD and webinars for both beginners and experienced traders.

    Customer Support

     The Oinvest customer support team is available Monday – Friday 08.00 – 20.00 SAST. South African users can reach their support by email, phone or by filling out their online contact form. Unfortunately, they do not have a live chat available.

    Payment Methods

    Oinvest is owned by the company Basfour 3773 Limited, located at Mandela Roads Place, Corner Wale Street and Burgh Street, Cape Town, 8000 South Africa.

    The payment methods they accept are Visa, Mastercard, Maestro, Skrill, Neteller and VPay.

    Verdict

    Oinvest is no “leading broker” for South Africa as they confidently state, but they do have certain interesting features to offer. Most importantly, they are a regulated broker. This is always the first thing to look at when deciding whether or not to invest with a new broker.

    Even so, there are certain features missing from Oinvest like a variety of trading accounts and a live chat.

    When you’re not sure whether or not to invest in a broker, make your life easier and simply trade directly with the best regulated companies – like IQ Option!

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