The type of FX/CFD brokerage that OInvest is, is an increasingly rare bird these days: it is focused on a single country, and it actually enforces this policy too, to the point that it does not even allow anyone outside the country to access its website.
That said, it is obvious that the brokerage is a unique trading environment. Despite the limited nature of its client-base, it is regulated, it offers good market coverage and a more than decent selection of trading platforms. It is extremely difficult to acquire any proper user feedback on its services though, so – for the time being – we cannot really cast judgment on the broker reputation-wise.
The background of the operation looks good too. The company currently in charge of the OInvest brand is a certain Basfour3773 (Proprietary) Limited, which has its offices located at Mandela Rhodes Place, Corner Wale Street and Burg Street, Cape Town.
The company is regulated by the FSCA, South Africa’s own regulatory body. For the time being, there are no other licenses under its belt, though given its focus on the country, that’s hardly an issue. The license number of the broker is 42020.
While the FSCA may not be one of the best-known regulators in the world, there is nothing wrong with its standards. In accordance with these standards, OInvest has to offer full transparency in regards to every facet of its operation. On top of that, the security of trader funds needs to be a top priority for the broker.
The broker keeps the funds deposited by its clients in segregated bank accounts, with top banking institutions. What this means is that in case of insolvency or any other major financial problem faced by the broker, trader funds will not be used to pay off debt, stave off bankruptcy etc. In such cases, the monies will be returned to depositors.
All communication and all transactions performed by the brokerage one way or another, are protected by top-notch encryption.
While available to the broker, all data concerning clients can only be accessed by a limited number of employees.
The risk management system used by the broker goes above and beyond the call of reason when it comes to protecting traders from risk. It actually warns them if it detects them placing a high-risk trade.
What other benefits does OInvest offer?
As mentioned above, the platform selection of the broker is outstanding. In addition to the Web- and Mobile traders, the broker supports MT4 too.
The tradable asset selection offered by OInvest is very attractive as well. Besides the scores of FX pairs, stocks, indices and commodities, the broker also covers cryptocurrencies, through a selection of cryptocurrency-based CFDs.
Be mindful that you will not be able to purchase cryptocurrencies through the broker.
The OInvest support staff is knowledgeable and eager to help. It can be contacted 24/5.
The education centre offered by the broker is superb as well: it offers scores of eCourses, webinars and VODs (Videos of the Day) educating beginners and advanced traders alike.
The OInvest Trading Platform Selection
The broker features three trading platform options, covering every segment of the market: a no-download Web Trader, MT4 and a couple of mobile apps for Android- and iOS mobile devices.
The mobile traders do a more than decent job of bringing a complete trading experience to the fingertips of OInvest traders.
The interactive charts they offer are great for technical analysis purposes, and the execution they feature is not one bit worse than that of the full, downloadable platform. Instant execution- as well as pending orders are supported.
The Web Trader is the handiest of all platform options offered by the broker. It features superb analysis and live charting as well. Needless to say, it does not require downloading and it can be accessed within a couple of clicks from the home page.
Visual Trends and Trading Cubes are also available through the OInvest Web Trader.
In addition to all the above, those who opt for this platform will be able to access a Demo Account too (lasts for 14 days) through which, they can put their skills to the test without risking any real money.
MT4 is beyond the shadow of a doubt the backbone of the OInvest platform offer. It is the most popular and quite probably the best trading platform, which offers charting and technical analysis features like no other.
It has a number of other advanced features too, like its EAs, but it is not clear whether or not OInvest allows the use of these Expert Advisors.
MT4 is a fully customizable trading environment and that doesn’t just mean that traders can set up custom chart templates and save them. They can also add their technical indicators to the existing selection and they can create their own ones.
The same is valid for EAs: custom ones can be installed and coupled with scripts to set the exact trading parameters one wants.
MT4 can be downloaded for free, directly from the OInvest website.
OInvest Account Types
This section of the review is a short one, because the broker only offers a single real money account type.
The minimum deposit requirement for this account is $250 and the maximum available leverage is 1:500.
The spreads featured are variable and they obviously differ from one tradable asset to the other.
The only other account type is the Demo Account, which is also available on the MT4 platform.
Trading Conditions
The trading conditions offered by the broker differ from one asset type to another. In this regard, the 49 FX pairs offer the most attractive opportunities.
On the EUR/USD for instance, the minimum spread is 0.7 pips, and the available leverage is a massive 1:500. Obviously, not all currency pairs are equal in this regard.
As far as cryptocurrencies are concerned, the broker does not specify the trading conditions, though it is safe to assume that they are more adverse than on FX pairs.
The trading conditions are more than decent on commodities too. The available leverage on this asset-class is somewhat limited though at 1:125.
On stocks, the spread-minimum is set to 0.21 or 0.021 pips and the leverage is lowered to 1:50.
Overall, the trading conditions are not bad at all and in some cases, they are quite outstanding.
Deposits and Withdrawal Options
The broker supports a decent range of deposit- and withdrawal options. Credit and debit cards such as VISA, MasterCard and Maestro are at the forefront, but eWallets like Neteller and Skrill can be used as well. VPay is also supported.
The Bottom Line
Although it is impossible to glean legitimate user feedback on OInvest from anywhere at this point, the broker looks like a more than decent destination for South African traders.
The platforms are great, there is a Demo account, and the services of the broker are very accessible, with a minimum deposit requirement of $250 on the real money account.
The market coverage of the broker is good. We like the fact that they have added cryptocurrencies to their asset line-up too.
The broker is regulated, so in its current form, we can warmly recommend it.