Independent Review - Oinvest
We have completed the following Oinvest review through a careful inquiry into the broker. We have found, among other things, that Oinvest has been in business since 2018, making this one of the newest brokers we’ve reviewed recently. The broker also offers three tiers of accounts and over 350 CFDs on a broad range of assets, making it a good choice for all types and experience levels of traders. In the short time they have been offering their services they’ve already received a number of awards, including the Best Forex Training Provider Global from Global Brands Magazine, and the Fastest Growing Online Trading Broker Southeast Asia 2019 from International Business Magazine.
So, as mentioned above Oinvest was founded in 2018 and is owned and operated by Aronex Corporation Ltd. The primary client regions for the broker are the Arab nations and Asia, although it claims clients from all over the world. U.S. and European clients are not accepted, although U.K. clients are.
The broker offers its clients the world-famous MetaTrader 4 as the trading platform, and users will find a comprehensive education center that will be beneficial to every level of trader as it includes a number of pieces on trading styles and strategies, as well as basic and advance technical analysis material, and much more.
Oinvest is a CFD broker operated by Aronex Corporation Ltd. and incorporated in Seychelles. It is also regulated in the Seychelles by the Financial Services Authority (FSA) and holds license number SD014. Because of its regulation by the FSA Oinvest is required to comply with all the laws of the Seychelles. Regulation also gives users a means to address any questionable practices by the broker as well as providing a level of trust.
Besides trust, security is quite important for any CFD broker. Oinvest has this area covered as well through its use of an SAS 70 certified data center for its servers, PCI Level 1 encryption of all transactions, separate firewall protection, and the use of Secure Socket Layer transmissions. In addition to these technological protections, the broker also keeps all client funds segregated from company funds, providing more financial security.
Taken together this presents a trustworthy and secure picture.
Clients at Oinvest have the choice of three tiers, or levels, of accounts as detailed below:
Silver – The most basic tier will be best suited to new, novice traders. Leverage in this account tier goes as high as 1:200, while spreads are as low as 0.07 pips on crude, and 2.2 pips on EUR/USD.
Gold – The gold account tier adds some additional perks and makes trading more affordable. The minimum spread on oil is lowered to 0.05 pips and the EUR/USD spread is lowered to 1.3 pips. In addition there is a 25% swap discount, clients get access to a dedicated account manager, and trading signals are made available. Finally, leverage increases to 1:400.
Platinum – At the platinum tier all the above applies, plus the client gets access to news alerts and a free VPS. The swap discount increases to 50%, and the minimum spread on oil decreases to 0.03 pips while the spread on EUR/USD drops to 0.7 pips.
Besides these three account tiers all Oinvest clients can request an Islamic account that follows Sharia rules. There is also an unlimited demo account that anyone can use to test the broker’s execution and platform.
All of the assets offered at Oinvest are CFDs and so there is no ownership of any assets. Trading makes profits and losses based on the change in price of the underlying assets. The assets covered by the CFDs at Oinvest include currencies, commodities, indices, equities, and cryptocurrencies. In terms of sheer numbers there are 47 currency pairs, 33 cryptocurrency pairs, 17 commodities, 15 indices, and 194 individual stocks.
If you have any experience trading, and even for those just beginning their journey, you know that most traders agree the best trading platform is MetaTrader 4. And Oinvest offers MetaTrader 4 as its trading platform for PC, web, and mobile.
When it comes to charting and technical analysis MetaTrader 4 is simply at the top of the heap. It has dozens on indicators already included, and with the desktop version there are thousands more that can be found and downloaded. And that does not even touch on all the Expert Advisors that work to automate trading strategies. We love the desktop version of MetaTrader 4 and it is our first choice when analyzing markets and trading.
Oinvest also offers the Web Trader and mobile versions of MetaTrader 4. These are also very powerful trading platforms, but are more convenient since the Web Trader will work on any device in a browser with an internet connection, and the mobile version is installed as an app on your smartphone and goes everywhere you go. These two versions have less available indicators, but they have the same powerful order entry system, which makes them well worth using.
As with most brokers you can make deposits free of any fees through bank transfer, credit/debit card, or several eWallet solutions that include Rave and PayTrust 88. Currently only U.S. dollars are accepted for deposits and there is a $250 minimum when using a credit of debit card. There is also a $10,000 maximum when using credit or debit cards. Oinvest asks for 7 days to process both deposits and withdrawals, and withdrawals go back to the originating account. Additionally, there is a $100 minimum withdrawal and when profits are present this minimum does not include the original deposit.
Online customer reviews of the customer service at Oinvest are primarily positive, which helps add to the confidence over the broker. They are available via telephone, email, live online chat, via a web form, and through their social media channels. Support is offered Monday through Friday from 5:00 GMT to 17:00 GMT.
For a pretty new broker Oinvest seems to be doing a good job, particularly with their educational offerings. It was also good to see MetaTrader 4 offered as the trading platform. The range od assets offered is good. Those looking to trade CFDs on stocks will appreciate the broad offerings here.
Some of the withdrawal rules were a bit harsh, particularly the one that doesn’t count the initial deposit as part of the minimum when there are profits.
Overall it does look as if the broker is making the effort to become more accessible and popular, although to do that they will need to open their services to Europe and the U.S.
the Financial Services Authority (FSA) in Seychelles