Oinvest Review: From Oinvest.co.zo to R1Investing

OInvest is an online broker offering CFD and forex trading. Yet, they lack reliable regulatory oversight. They have branches in Seychelles (an offshore haven) and South Africa (where they lost their license). Additionally, their fees can quickly deplete your account. It’s recommended to consider other online trading options such as Plus500.

OInvest entered the investment services market in 2018 as part of Aronex Corporation Ltd. Their short time in business means they have a limited reputation. Keep reading our Oinvest review for more. 

Is Oinvest Safe? Security and Regulation 

There are two distinct OInvest brokers: OInvest (based in Seychelles) and OInvest South Africa. If you’re not in South Africa, you’ll trade with their main branch in Seychelles. The Seychelles branch operates under Aronex Corporation Ltd. OInvest is regulated by the Financial Services Authority of Seychelles as a security dealer. Yet, the effectiveness of this regulatory authority in managing broker conduct is questionable.

Seychelles is known as a destination for companies seeking lenient financial regulations. The country comprises over 100 islands off Africa’s eastern coast, north of Madagascar.

The European Union has criticized Seychelles’ financial laws handling. The European Union maintains a blacklist of non-cooperative tax jurisdictions.

The European Council established this list in 2017 due to insufficient international tax regulation cooperation. Countries are assessed based on their efforts at combating fraud and tax evasion. The list includes 12 countries, mainly small island nations like Seychelles.

Moreover, being on this list indicates a lack of cooperation in international financial law. That reduces the likelihood of successful domestic legal challenges against offshore brokers. Seychelles has been on the blacklist since February 2020.

South African Operations in Trouble

OInvest operates in South Africa alongside its Seychelles branch under Basfour’s parent company. Basfour holds a license from the South African Financial Sector Conduct Authority. Yet, this license only protects South African traders. Traders from other countries deal with OInvest Seychelles.

In October 2021 OInvest South Africa’s license was revoked by the FSCA. Additionally, Basfour’s head received a ten-year industry ban. So, the South African branch is now an unregulated broker without a license to provide financial services.

The FSCA’s statement clarifies the reasons behind the license withdrawal. Firstly, the broker offered unauthorized financial advice to clients. Secondly, they traded with clients without disclosing their role as the counterparty in the trades. The report also raised allegations about the following:

• Pressuring clients to deposit and trade. 
• Delays in processing withdrawals, and 
• Failure to disclose fee and risk information.

Lastly, the FSCA found that the broker failed to meet minimum capital requirements. These violations of the FSCA regulations ultimately led to license withdrawal.

Trading Assets Available at Oinvest

OInvest offers CFDs as their primary financial instruments, covering a wide range of products. They provide 33 cryptocurrency pairs, including popular options like Bitcoin and Ethereum. They also provide alternative coins such as Zcash.

Besides, the broker offers 15 global index CFDs, 17 commodity CFDs, and a substantial selection of over 194 individual stock CFDs. This diverse range allows traders to exploit various market opportunities and maintain diversified positions.

Furthermore, OInvest provides over 45 forex currency pairs, including major, exotic, and minor pairs. The broker offers leverage up to 1:500 for forex trades, although leverage for other asset classes may differ.

Since OInvest operates from an offshore headquarters, they are not subject to the strict ESMA leverage limit of 1:30.

Oinvest Trading Platforms Comparison

This broker supports a different variety of trading platforms. Notably, if the broker had valid and multiple regulations, it’d be a good option for traders. This goes without saying! 

The firm supports MT4, WebTrader, and a mobile application. 

MetaTrader 4

It is a big advantage that this brokerage includes MetaTrader 4. Trade control is enhanced by advanced technical indicators and trading tools. The platform offers a wide range of analysis tools, keeping traders informed and ahead of the game. 

MetaTrader 4 is accessible through desktop, mobile app, and web browser versions. Still, MT5 is not available here.  

WebTrader 

OInvest also offers a WebTrader platform. Still, this one lacks the tools and charts of MetaTrader 4. 

Opting for MetaTrader 4 or MT5 is a much better choice, especially considering its availability in web browsers. There is no compelling reason to settle for browser-based functionality.

Mobile App

OInvest provides a mobile app for traders on the go. Despite mobile apps’ convenience, desktop apps generally provide a better trading experience. 

The mobile app lacks many key features. This indicates an imbalance between accessibility and functionality.

The Oinvest Trading Features

Oinvest offers the following features:

• Favorable spreads and fast execution: There are variable spreads starting as low as 0.7 pips for major FX pairs. Trades are executed efficiently through a straight-through processing model.

• Dedicated account manager. Gold and Platinum accounts receive personal support from an Oinvest account manager. The manager assists traders with trading and account management.

• Real-time news alerts. Platinum accounts receive timely market updates via SMS or email. Traders are informed about market changes and key developments.

• Webinars and video tutorials. Gold and Platinum users have access to valuable educational resources such as webinars and video tutorials.

• 24/7 cryptocurrency trading. Cryptocurrency enthusiasts can trade round-the-clock, including shorting cryptocurrency pairs, leveraging positions, and trading weekends. That sets Oinvest apart from other CFD trading platforms.

Can I Earn & Withdraw From Oinvest?

Oinvest includes many payment options for account funding and withdrawals. Skrill and Neteller are also accepted along with credit cards and wire transfers. 

As you may know, they provide significant flexibility for clients. This can be one of the benefits, by all means. 

Oinvest Withdrawal

Oinvest claims that withdrawal requests will be processed within seven business days. 

This commitment to timely withdrawals ensures efficient client funds access, minimizing delays. However, many people claim that the Oinvest scam refuses to issue withdrawals. You should keep this in mind. 

Customer Support

Oinvest provides professional and dedicated customer support for traders. They offer multiple communication channels, including live chat, email, and phone. The Oinvest concat number is +27 215180099, and the email is [email protected].

Traders can also fill out an online form on the Oinvest website with their contact details. The customer support team promptly contacts them to assist with any issues or concerns.

Oinvest Reviews: What Traders Are Saying

This broker has a good rating on Trustpilot (3.9 starts). Yet, numerous OInvest reviews from former clients portray the broker negatively. Many clients are blaming the broker for fraudulent practices.

Many clients have complained about OInvest’s bold behavior. They complained about constant phone calls and strong persuasion tactics. These claims are supported by the FSCA report, which cited such activities as a reason for revoking OInvest’s license in South Africa.

A Conclusion About Oinvest Broker

OInvest.com is an online forex and CFD broker, a subsidiary of Aronex Corporation. However, the broker has faced regulatory scrutiny, leading to license loss in South Africa. This is due to unauthorized financial advice and non-disclosure of trading roles. The Seychelles branch operates under the regulation of the Financial Services Authority of Seychelles. Still, the effectiveness of this regulatory authority is questionable. 

OInvest offers crypto pairs, global indices, commodities, and currency pairs. They provide various trading platforms such as MetaTrader 4, a web platform, and a mobile app. The Oinvest withdrawal requests are allegedly processed within seven business days. Customer support is available through live chat, email, phone, and online forms.

It is wise to exercise caution when considering Oinvest as a trading option. Exploring regulated brokers with a strong reputation, such as Flatex, may be advisable. Contact us for a free consultation and guidance in choosing a secure broker.

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