Because its operator cannot even be accessible from other countries, including its website, we refer to OInvest as “South Africa’s very own” online brokerage. This is the reason why we say that OInvest is “South Africa’s very own” online brokerage. It is completely uninterested in even having possible business partners from other nations take a look at what it has to offer because it has no interest in doing business with them.
Having said that, it provides narrow variable spreads and more than decent market coverage, so it seems like a solid trading location at first glance. Due to the limited amount of information regarding the brokerage’s reputation that can be gained from online chatter, that initial impression will most likely have to suffice as well.
Profile of the Regulatory Agency
As a licensed and regulated broker in South Africa, OInvest satisfies the requirements set forth by the Financial Sector Conduct Authority (FSCA) (Financial Sector Conduct Authority). This kind of regulation invariably places a plethora of requirements and at least some financial burden on the organization that is being regulated, and that is precisely the situation with OInvest as well.
The operator is very forthright with regard to this matter; on its website, it provides a comprehensive collection of documents that cover virtually every area of its business, including the KYC policy, cookies, bonuses, and potential conflicts of interest, amongst a variety of other topics.
A company known as Basfour3773 (Proprietary) Ltd. is the entity that can claim ownership of the OInvest brand. The aforementioned FSCA license, which may be identified by the number 42020, is held by the aforementioned company.
The address that Basfour3773 calls home is Mandela Rhodes Place, which is located on the corner of Wale Street and Burg Street in Cape Town, South Africa 8000.
Some people believe that the regulatory coverage provided by South African authorities is not as prestigious and possibly not as trust-inspiring as the regulatory coverage provided by other financial authorities (such as Australia’s ASIC), but given the broker’s exclusive focus on the South African market, what else could one really expect in this regard?
Why would someone like you, a typical trader in South Africa, want to register an account with OInvest?
The brokerage advertises itself as a “global broker online” on its About Us page, despite the fact that it specializes in a specific area; the language used and the claim itself are both somewhat strange. However, what it most likely alludes to is the market coverage that the broker provides, which does in fact encompass a substantial variety of assets and asset classes that are located all over the world.
It would appear that over 350 different assets, including the brand-new and fascinating asset class known as cryptocurrency, can be exchanged with OInvest.
The asset selection can be summarized in a few quick statistics, and it includes approximately 49 foreign exchange products, 172 equities, 18 commodities, and 20 indexes.
In addition to this, the broker provides fully segregated trader accounts, professional trading tools, risk management, and a very decent selection of capable trading platforms, not to mention a comprehensive education section.
Newcomers will get access to a variety of learning resources, including eBooks, eCourses, tutorials, webinars, and Videos of the Day, among other things.
In addition, the ways for making deposits and withdrawals that are supported span an incredible breadth of options.
In order to keep customers’ money safe, the broker uses cutting-edge encryption technology for all of the financial transactions that take place through its services, in addition to the fully segregated accounts that were described earlier in this paragraph.
According to reports, the brokerage only allows a select few of its reliable staff access to its customers’ personal information.
Deposits and Withdrawals Processed by OInvest
In this respect, the broker provides support for a variety of trading methods, any and all of which should satisfy a trader’s requirements.
The broker will also accept Skrill, Neteller, and VPay in addition to Visa, MasterCard, and Maestro credit cards.
This is true for both making deposits and withdrawing money. Only the official client area of the brokerage can be used to submit a request for a withdrawal.
Different types of OInvest accounts
According to all available information, the broker only provides a single type of real money account, and nowhere on their website is a minimum deposit size indicated. The trading conditions are quite secretive, but it appears that the maximum permitted leverage is 1:500 and the spreads (on main currency pairings) start from 0.7 pips. There is a Demo account that may be used, and its validity period is for 14 days.
However, it is important to keep in mind that these spreads are not fixed, and as a result, they could end up being far bigger once you begin trading in earnest.
Trading Platforms Provided by OInvest
Even if the broker provides clients with access to three different trading platforms, it is reasonable to assume that the selection is actually focused on the time-honored, reliable MT4.
However, the Web Trader is the platform that can be accessed with the least amount of effort. Those who are interested in beginning their venture through this platform will be pleased to learn that it provides a Demo Account option, which can be accessed for a period of 14 days after the platform’s initial release.
The platform, of course, also includes real-time charts and analysis, in addition to the practical benefit of Trading Cubes, which is centered on bringing all of the relevant information to the fingertips of traders so that they can make snap judgments and execute trades in record time.
The Visual Trends feature is one of the tools that are made available on the platform. This feature makes it simple for traders to evaluate their performance and to reflect on the choices they have made in the past.
The MT4 software, which serves as the platform’s central component, is available for free download from the OInvest website.
It comes with its well-known and well-liked set of capabilities, such as an excellent charting and analytics-package, dozens of time frames and chart kinds, and drawing tools, among other things.
The version that is freely available comes with an excellent collection of technical indicators, but the platform always allows traders to add new indicators if they so choose. Those that are interested can even develop their very own unique technical indicators.
The same can be said for Expert Advisors, which are, without a doubt, the most widely used component of the platform. EAs are able to trade on their own automatically, carrying out the strategies that traders program into them. These EAs perform to their full potential when paired with a reliable VPS service; however, it is not apparent whether or not OInvest provides this kind of service.
Additionally, new EAs may be added, and even more recent ones may be coded directly through the platform if desired.
The technical analysis tools of MT4 and the straightforward manner in which orders can be placed are two of the aspects that are highlighted on the OInvest website.
Spend Money on Learning
It would appear that the education component of the brokerage is highly comprehensive, and it is, in a sense, the operation’s pride and joy.
The website of the broker has a part called VOD, which stands for “Video of the Day.” Within this section, you’ll find a large number of well-organized video tutorials. These videos are separated into distinct sections for novice traders, expert traders, and techniques. Not only are there MT4 tutorials available, but there is also a dictionary of words, and it is even in video format!
When it comes to eBooks, there are a total of four available. These eBooks cover topics such advanced methods, CFDs and stocks, commodities and futures, and trading advice.
The tutorials cover not only MetaTrader, which is clearly quite helpful, but also the many trading instruments that are made available by the broker. However, not all of these tutorials are open to each and everyone who wants to check them out. The vast majority of them require the creation of an account with the broker before one can gain access to them.
This section also includes coverage of commodities as well as futures contracts.
When compared to the films described above, the format of the eCourses is significantly more user-friendly and covers a wider range of core trading-related ideas and concerns.
OInvest Conclusion
OInvest is progressing toward being a respectable brokerage. However, the fact that it is only focused on South Africa is the one element that makes it stand out from other similar works.
It is regulated, and it gives users access to a respectable variety of trading platforms and assets that can be traded.
It is noteworthy to note that the tradable asset index, which can be accessed with just one click away, does not mention anything in this regard, despite the fact that the website states that the brokerage supports cryptocurrency.
It is also important to note out that for some unknown reason, the broker’s website appears to have been put up in a fairly chaotic manner.
