Oinvest South Africa Review
Oinvest is an MT4 forex broker based in South Africa . Being the new kid on the block following its establishment in 2018, any trader would be skeptical on whether to trade on the platform or not. Fortunately for you, this review may be a detailed analysis of the Oinvest Forex Broker.
This broker is owned and operated by the proprietary Basfour 3773 Company Limited in South Africa . The Financial Services Board regulates this broker. With the increase of get quick scams on the web , the regulation of this broker by FSB pushes this broker towards the trustworthy brokers’ list.
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BasFour 3773 Limited adds to the authenticity of Oinvest given the company’s regulation by the South African FSCA (Financial Sector Conduct Authority, which is that the successor of the FSB. FSCA is that the regulatory body responsible of the whole licensing process, also as overseeing the financial services providers required to stay clients’ funds separated (in segregated accounts) from the funds of the corporate . This regulator is additionally tasked with keeping a public register of the Authorized Financial Services Providers across South Africa . What this suggests is that you simply can search Oinvest’s information or the other broker to see whether or not is it FSCA-licensed. Note, however, that albeit the regulation of forex trading isn’t the simplest in South Africa . This regulation should, however, offer A level of reliability and satisfaction.
Its recent establishment could be the rationale why this broker only features one sort of trading account, the quality trading account.
This broker also seems to focus on the local South African market only with trading restricted in many countries including the us , Iran, Canada, Cuba, and Israel, among other countries.
Oinvest Trading Platform
The other impressive feature of Oinvest is that trading takes place on the MetaTrader 4 (MT4) platform. MT4 is that the commonest trading platform known for the user-friendly interface and its reliability. Besides the intuitive interface, MT4 also offers solid charting, remarkable analysis tools, and it also supports an automatic range of trading strategies like Expert Advisors, among others.
Oinvest Trading conditions
With one account type, Oinvest doesn’t offer you many trading options. But, this trading account features a maximum leverage of 1:500 and a decent spread of 0.7 pips. These conditions bring competitive trading. Note, however, that the worth of the minimum deposit isn’t specified. So, despite having to trade on this Standard account only, you get to enjoy tight spreads, a high level of leverage, and no commission fees. If you’re only getting started in forex trading, then these conditions are quite ideal. you’ll also learn more about trading on the platform from the e-book, webinars, tutorials. And training courses offered on the web site .
The high leverage of 1:500 will allow you to open up larger positions while fixing little cash. Therefore, high leverage offers you the simplest trading condition. the sole catch when it involves high leverages is that your risk of loss increases significantly.
Oinvest Various assets
This broker offers a good sort of trading instruments on the MT4 platform. Its portfolio includes about 50 currency pairs for Forex exchange, and it also offers CFDs on commodities, stocks, indices, also as cryptocurrencies. When it involves crypto, you’ll trade Bitcoin, Bitcoin Cash, Ether, Ripple Dash, Litecoin, Bitcoin Gold, and Monero.
For deposits and withdrawals, the broker lets traders use MasterCard, Visa, Bank wire transfers, and e-wallets like VPay, Skrill, and Neteller.
It’s licensed and controlled by the renowned Financial Sector Conduct Authority. This regulatory body enforces relatively strict measures as compared with other bodies just like the ones supported Vanuatu.
- Trading takes place on the MT4 platform
- Various trading assets on its portfolio
- Tight and competitive spreads
- High leverage levels
- The trading conditions aren’t specified on the web site , and you simply learn of a number of the trading conditions just like the ones outlined above by watching trading from the demo account.
- Despite the regulation, the South African regulators aren’t very reliable
- Oinvest’s access is restricted in most countries because the broker appears to only target, local traders.
- One sort of trading account
Oinvest represents one among South Africa’s well-regulated forex brokers, and it offers various tradeable asset on the MT4 trading platform. albeit the web site isn’t clear on the trading conditions, the conditions seen on the demo account are pretty promising.