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Oinvest Review - is it scam or safe?

Oinvest Review - is oinvests.co.za scam or good forex broker?

RATING: 2.5 / 13 REVIEWS Oinvest
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Trading Accounts and Conditions

 

Trading account  Minimum deposit Maximum leverage Spread
Standard Not specified 1:500 0.7 pips

 

Oinvest is a South African forex and CFD broker that appears to offer a single account type with tight variable spreads, no commission fees and high leverage levels on the MT4 platform.

 

In addition, the broker provides a number of educational sources for beginner traders, such as e-books, training courses, webinars, tutorials, etc.

 

 

Oinvest Advantages

 

Licensed in South Africa

One of the strongest benefits of Oinvest is the fact that the company behind it, BASFOUR 3773 (PROPRIETARY) LIMITED, is regulated by the South African Financial Sector Conduct Authority (FSCA), the successor of the Financial Services Board (FSB). The FSCA is in charge of the licensing process and oversees financial service providers, which are required to keep all client funds in segregated trust accounts in a recognized bank in South Africa. The regulator also keeps a public register of Authorized Financial Service Providers, so that investors can look up whether a certain broker is FSCA-licensed.

 

Although regulation in South Africa is not among the strictest and most reputable ones (such as the one in US or Australia, for example), it provides a certain level of reliability.

 

Trading on MetaTrader 4

Another positive side of Oinvest is that trading is done on the widely used MetaTrader 4 (MT4), which most traders know well and like using. The reason for this is that the MT4 has an intuitive interface, solid charting, great analysis tools, and supports wide range of automated strategies, better known as Expert Advisors.

 

>> More MT4 brokers <<

 

 

Tight spreads

The trading costs at Oinvest also appear attractively low. The broker does not charge commission fees and the spread on EUR/USD is as low as 0.7 pips.

 

A wide variety of assets

Another advantage of this broker is the variety of trading instruments it offers for trade. Its product portfolio includes around 50 currency pairs (FX), as well as CFDs on stocks, commodities, indices, and cryptocurrencies. The list of the latter comprises popular coins such as Bitcoin, Ether, Ripple Dash, Bitcoin Cash, Bitcoin Gold, Monero and Litecoin.

 

 If you are into cryptocurrencies, check out our list of reliable forex brokers that offer trading in Bitcoin.

 

 

>> Regulated forex brokers offering Bitcoin trades <<

 

 

High leverage levels

As most brokers who are not restricted by the laws applicable in the country of their operation, Oinvest provides high leverage levels, reaching 1:500. While such leverage ratios allow traders to open larger positions, while not investing large sums. That is why we consider it as an advantage, although leverage levels that high increase significantly the risk of losses.

 

 

Oinvest Disadvantages

 

Trading conditions not specified on website

Oinvest’s website does not contain any relevant information on its trading conditions, such as leverage levels, minimum initial deposit, spreads, etc. All decent forex brokers specify these essential trading details as a part of their transparent pricing policy.

 

Fortunately, demo accounts are available, so we were able to see the trading costs and the leverage ratios available.

 

Not available in many countries

It seems that Oinvest targets mainly local traders, as it does not accept clients from the United States, Iran, Cuba, Sudan, Syria, North Korea, Australia, Canada, Israel, as well as such from European countries.

 

 

Conclusion

 

Oinvest is a well-regulated South African broker that offers wide range of tradeable assets on the industry’s leading MT4 platform.  While the trading conditions on demo accounts seem pretty attractive, they are not clearly specified on the broker’s website.

 

The situation with financial markets in South Africa seems promising, as this is the most developed country on the continent and has some sort of financial regulation. Nonetheless, the most reliable forex brokers regulated by the South African Financial Sector Conduct Authority are also licensed by other, more trustworthy financial governmental agencies such as UK’s FCA or Cyprus’s CySEC.

 

 

>> The best forex brokers legally operating in South Africa <<

 

 

To sum up the above:

 

 

Pros Cons
Licensed in South Africa Trading conditions not specified on website
MT4 available Not available in many countries
Tight spreads  
A wide variety of assets  
High leverage levels  

 

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Traders` reviews for Oinvest

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

Cons

 

 

Totaly scam

They force you to put more money in and after 5 days you loose everything.
It is a scam thing, stay away.

They call themselves account managers, but they talk you dead over the phone and do not explain how everything works.

Lourens 01/12/2019

withdrawal denied

They freely except your deposit but when you want to withdraw , they keep telling you its denied !! and get no response from them

frank 01/10/2019

Oinvest withdraw problem

I have an account with them and when I withdraw R4250 its was rejected and the amount I put in was R7100. my opening amount was R3500 then Veliulla lumanov account Manger he ask me to put more then I added R3600. and week after he ask me to put more and I didn't because I made a profit of R3400 and I wanted to grow it like that but then I started to loss since he was calling and telling me which country to invest on and I lost it all thru him. In January the login doesn't exist anymore


they are SCAM

siyabonga hadebe 01/10/2019

Oinvest withdraw

On 14 December 2018 I received confirmation that my funds would be successfully refunded to me within 7 working days. Today I get a declined notification, and thereafter another confirmation that it will be refunded within 7 working days. As an investing company, can you count???? 14 December to 2 January = how many working days???

Sharon 01/02/2019

Stay away! I lost R55 ooo

The biggest scam in trading. Stay away if you do not want to loose ALL your money. Do NOT trade with them, they are crooks! Stay away. Do not let them pressurize you to increase you deposit. I lost R55 ooo in four days. No refund, Nil Rand left in ‘trading account’. STAY AWAY!!!

P van Rooyen 12/31/2018

It is a scammm!!

Stay away. Do not 'trade'. If you have started trading already, do NOT increase you funds, no matter what promise they make. YOU'LL DEFINATELY LOOSE EVERYTHING!
Paul

P van Rooyen 12/31/2018

Oinvest a scam??!

I invested R 20,000.00 with the promise that I will be making some profits, rather than keeping one's money in the bank. I was pressurized to put in more money to prevent the money I have invested already to be wiped out of the market. I did not have any additional funds to save my funds. By the look of things, I have lost R20 000 within weeks of my investing. How do I go about recovering my money? Please help

Edward Nhlapo 12/20/2018

Average

Average broker with MT4 platform. Not bad in all. Plus for their managers

Jim 12/14/2018

Scam

This brocker is a scam! Their license is suspended.
Contact the FSCA!

Ubalele Sagna 11/02/2018

Oinvest withdrawal request

I have a problem with withdrawing my investment.
I wished to cancel within 24 hours of investing, as I realized that I do not have the time or the inclination to do the trading.
They initially replied and told me to withdraw my investment on by logging on to the website. I did it and received confirmation of my withdrawal. But this was immediately revoked, and every mail I sent was sent back undelivered.
: host oinvest.co.za[41.76.104.125] said: 550-The mail
server could not deliver mail to [email protected] The account 550-or
domain may not exist, they may be blacklisted, or missing the proper dns
550 entries. (in reply to RCPT TO command)
WHAT DO I DO NOW?

Don Garcia 10/04/2018

Consultant assisting to invest

I also think this is a scam

Asha 09/28/2018

Scam

This totally sounds like a scam. Guy phones, sounds like he is in pub with music blaring. When asked if he is in a pub he says he is on the trading floor in Cyprus. Received email with phone number that is not in service and when replying on email it comes back "The mail server could not deliver mail to [email protected] The account or domain may not exist, they may be blacklisted, or missing the proper dns entries."

Elizabeth 09/25/2018

Scam - Oinvest is ex-iTrader

Oinvest is ex-itrader, located in Limassol Cyprus. Their offices located where hoch capital is, on the second floor, operated by Invertiscape holdings. They have European people to do conversion, cold calling-lead generation from yellow pages, and then someone else calls them to convert, and then only Israelis Senior Account Managers call and push clients for more and more and more money, and then with very high swaps and margin calls are burning the clients. Even iTrader was not monitored by CySec, and as an ex-employee I know that they were paying cysec to remain silent and never check for complains or recordings. Cysec never came for a check up for 6 months. Now, OInvest, instantly fired itrader employees and hired them at OInvest. Location, Grosvenor Tower 1st Floor Limassol, and Itrader on ground floor. They treat like shit to their employees, insulting everyone whoever is not Israeli. THEY ARE SCAM. Not giving payouts, misleading the clients, telling their clients to use their whole free margin, swaps 10 times more than a normal company, they claim to be STP but they have Dealing desks at hoch capital, which is their liquidity provider and also owns them. They are a joke. Avoid them people. There are other good companies out there, True STP's, or ECN (recommended). Some of the israelis also use stage names and not their real ones. If this company scams you, call cysec, and let them know their location, also call Cyprus Police Dep.

Marios 09/13/2018
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