Oinvest Review – 5 things you should know about oinvests.co.za

Oinvest Review – 5 things you should know about oinvests.co.za

RECOMMENDED FOREX BROKERS

FXTM

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Oinvest is a South African forex and CFD broker, offering 49 currency pairs and a good selection of CFDs, covering a wide variety of asset classes form commodities, indices and stocks to crypto coins and precious metals.

Among the forex pairs some are with exotic currencies like Honk Kong Dollar, Singapore Dollar, Danish Krone, Hungarian Forint, Norwegian Krone, Polish Zloty, Swedish Krona, Turkish Lira, Mexican Peso, Russian Rubble, South African Rand and Israeli Shekel.

We also counted CFDs with nearly 20 indices, over 170 stocks, a number of energy and agricultural commodities like oil, natural gas, cocoa, coffee, copper, corn, cotton, orange juice, soy beans, sugar and wheat, precious metals including gold, silver, platinum and palladium and even crypto coins, most notably Bitcoin, Ether, Ripple Dash, Bitcoin Cash, Bitcoin Gold, Monero and Litecoin.

Oinvest trading conditions

The benchmark EURUSD spread is as low as 0,7 pips, which is quite tight as the broker does not take a commission on the trade.

In the same time the maximum leverage offered by Oinvest is as high as 1:500 and can easily accommodate even the most aggressive trading strategies.

Since the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex trade in the European Union to 1:30 in the beginning of August and since similar restrictions are already in place in the US and Japan, the only reliable regulators, still allowing more generous leverage remain the Australian Securities and Investments Commission (ASIC) and the South African Financial Sector Conduct Authority (FSCA), where Oinvest is licensed.

Still, have in mind that while higher leverage may help you score good profit with a relatively small deposit, it also makes your investment much more vulnerable to market fluctuations.

Oinvest trading platforms

At Oinvest you can choose between an internet based Web Trader platform and the MetaTrader4.

MetaTrader4 has always been a good solution for professional and beginner traders alike. The well known platform features multiple market indicators, various charting tools and an option to run automated trading sessions with the help of specially designed trading bots or Expert Advisors.

Oinvest regulation & safety of funds

Oinvest is owned and operated by BASFOUR 3773 (PROPRIETARY) LIMITED, a company based in Cape Town, South Africa and regulated by the local Financial Sector Conduct Authority (FSCA).

FSCA, along with respected financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) enforces a strict and yet balance regulatory regime.

FSCA licensed brokers for example are required to keep all clients’ money in a segregated, protected form creditors account.

Also, all brokers under the jurisdiction of the South African regulators are obliged to maintain a certain minimum capital adequacy ratio, which gives traders additional security.

Oinvest deposit/withdrawal methods and fees

As most other brokers Oinvest accepts payments with major credit or debit cards like VISA and MasterCard, bank wire and popular e-wallets like Neteller, Skrill and VPay.

And while Oinvest does not specify a minimum deposit requirement, it is generally advisable to invest at least 250 USD so that you can support a sufficient margin to sustain any significant moves against your position.

Rich Snippet Data
Review Date
Reviewed Broker
Oinvest
Broker Rating
31star1star1stargraygray

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
UK, Cyprus, Belize 4.95/5 $5 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

21 Comments

  1. Working with them for 5 months, there are minuses like platform issues but in all the conditions for traders are good and profit

  2. SCAM, SCAM, SCAM, Stay away!! You’ll loose ALL your money.

    1. Paul, do you speak from experience? Please tell us your story?

    2. let me explain,after your acount has been opened the broker start questing you on your fanacial states, if you say you are uncomfortable then he wil say that is okay,the next move is in some way you make amount of say += 30% it is like acarrot in front of a donkeys nose ,next move poor or no assitance, next move as it is with novice you start loosing every thing, next move the quest for more funds start again, the ball is thrown in to your court. Geus what you loose every thing,the stragty is to terorise you to try and presaude you to invest,

  3. I lost all my money. I should have pulled out when I was up.

  4. How soon after opening an account do u have to deposit money.

  5. Jeanette, how much did you loose and was it because of OINVEST negligence or your own doing ?

    1. Have anyone ever withdrew funds from Oinvest.

      1. Yes, I had. You should read the service policy.

  6. It is amazing how similar my experience was to Benjamin’s. It is as if they want you to make bad investments as a novice so that they can milk more money from you. As the bucket is running empty because there is more going out than in their solution is just put another hosepipe in (more money) at no stage are they interested in plugging the hole where the money is running out of .If you ask for your account to be moved to another broker they have some manager phone you his only purpose is to milk more money from you , if he don’t succeed his manager coms on the line and really puts on a show.
    You never throw good money at bad money in the hope that it will make it better.

  7. Joelene Gaarkeuken

    I did open an account with 3500 ZAR on 5 Mar 2019. Its now 11 Mar 2019 and made 1000 ZAR so far. They are rude and pushing you to add more money. I just stacked to my guns and refused. I just want to play on the market on my own time with the last 3 numbers after the point. (a few minutes or maybe an hour before the PC) I now understand why my manager phoned me Friday night and pushed to make trades now (and it was bad trades) She said some big movement going on and so on and so on… She just want me to trade so that it will go overnight and over the weekend. I didn’t know the trade close Friday 00:00 and open on Monday. I now see the “Swap” column and was wondering about that. Apparently it is there commission and they only get when you trade over night. She also said you never close and account while it is in the minus (there commission is also in the minus) but I’m waiting for that bad trades to come a bit down then I’m going to close them and count my losses. I’m going to play until I have 10’000 ZAR then I’m going to withdraw my 3500 ZAR and see if I can get it out. Some people are complaining about getting your money out. After that I’m not playing with my own money and I will know if you can get your money out again. Will update if I have more news

  8. Its a well designed scam….i repeat its a SCAM. Opened trade with R3500 19/03/19 and was immediately asked to deposit R100000. Eventually lost a total of R23500 by 20/03/19. Their Swaps are in place to pull all your investment returns into their pockets. they bully you into trading and eventually when its all gone they say they were not the ones making the deposits. From that point their hands are clean.Everything appears to be legitimate from their customer care department calling you to their foreign call centers. their programme is designed that you never walk away with any returns. we need to advise the local authorities (JSE authorities) in South Africa because OINVEST is fronting as a legitimate SA company. we must also report this to the WEB advertising companies carrying their adverts, that they are a bunch of Scammers.

  9. Went through a similar situation, opened an account for R3500 and immediately the account manager Brian N.f called me to start trading I opened few good trades with him in assistance and thereafter he said I have to increase my margin so that we could open more trades to which I agreed to so I deposited R15000 more thereafter it was just bad trades after bad trades with the big swaps and yes when I closed the losing trading preventing further loss he would say I’m making a mistake I should never close a losing trade, now I’ve lost all the R18500. These people are real SCAMMERS. A broker full of nigerians I regretted investing more but I guess that’s part of a painful learning experience.

  10. The stories are the same. These guys are SCAM. They’re not legit. They tell you to deposit more money. The first time you open trades, you will win so that you put more money. When you want to withdraw,you’ll struggle. They’re just bunch of scammers. Don’t invest more money. Just put in R3500 and if it was meant to be, you’ll profit. But they’re bunch of fraudsters.

  11. Scam scam scam scam!!!! People stay away!!! Ive lost R3500 and they asked for more without flinching.

  12. I forfeited my R3500 as “school” money to learn something about trading. Most valued lesson learnt was not to fall for their prompting to invest R50000 (or more) after initial losses. It is a clever disguised scam. I consider my R3500 loss as money well spent to forever not become interested in “trading”.

  13. I don’t think it’s a scam. I’ve read the policy carefully and didn’t have any issues with this broker ever since. Money withdrawal takes some time which can be a bit annoying but I’ve always received my cash, sooner or later.
    I was aware of high risks before opening an account so I wasn’t surprised when I experienced losses. I’ve had plenty of wins as well though.
    Generally, I think Oinvest is a good broker but you should always do your own research and educate yourself as much as you can.

    1. Can you help me sir pls,I made a deposit of R3500_on the 29th of MAY 2019, But up to this point, never trade cause I’ve been waiting for their call to show me how to trade.I’ll be very much happy for your assistance.

    2. Musarrat Chishti

      Hi.
      How to add money you want to withdraw? My phone is showing arrow you have to press. Each time only one rand go up

  14. I lost over R82.000 SCAMMMMMMMMMMMMMMMM, same stories as above. Would not recommend

  15. They do not explain how the different platforms work. In my case they made me deposit they bullied me into depositing a further R50 000 in order to start trading on bitcoins and later on said it still wouldn’t be enough. Their next step was to wait till a Wednesday then the account called and said we could start trading to raise the funds. I made more than R15 000 in profit on the same day, but she kept on telling me to open more positions , however did not explain about the Wednesday swaps even though I explained I was new at trading. The next day most of deposit was gone with their crazy swap rates, and the account manager kept on telling me to deposit more even after telling her I did not have more money.
    They are not trustworthy brokers and don’t act in good faith.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

Trading.com Review – 5 things you should know about trading.com

Trading.com is the new brand of Trading Point