Oinvest Minimum Deposit
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FSCA licence 42020 is issued to Oinvest, a forex broker based in South Africa. There are over 350 CFDs available for traders to trade commodities, indices, shares, and cryptocurrencies. First, let’s discover the trading conditions and the Oinvest minimum deposit.
The platform offers trading in more than 20 countries worldwide but seems to be primarily oriented towards South African traders – claiming to be South Africa’s leading broker.
When it comes to trading platforms, Oinvest makes up for the top choice in types of accounts! WebTrader, MetaTrader4, and a mobile app are all options available to investors. Each platform has its benefits, so users can choose which is best for them.
Avonex Corporation LTD launched Oinvest in 2018 as a CFD broker. Oinvest.com is currently available in over 350 CFDs, with most users coming from Asia, Africa, and Arabia.
They can use proven trading tools MetaTrader4 and WebTrader with access to the trading platform. Also available is a tutorial corner with information on how to trade and use the strategies.
There are 350 different CFDs available at the company, detailed there are 49 forex pairs, 172 stocks, 18 commodities, 20 other indices, and 21 cryptocurrencies, for example, Bitcoin, Ethereum, or Ripple (XRP), Dash, and the Monero.
There are typically three types of accounts with most brokers: the Silver account, the default account for all users, the Gold account, and the Platinum account.
Oinvest minimum deposit
The broker offers three types of accounts: Silver, Gold, and Platinum. The lowest account type requires a minimum deposit of $250, standard among offshore brokers.
The main attraction of higher accounts is the improved spreads, while Silver accounts have extremely poor spreads. As a result, high account holders receive discounted swaps and better spreads.
Several of the broker’s educational resources are also locked behind premium accounts. Details about the minimum deposit of all trading account types are discussed as below:
|Features||Silver Account||Gold Account||Platinum Account|
|Available Leverage||Up to 200:1||Up to 400:1||Up to 400:1|
|Starting Spreads||From 2.2 pips||From 1.3 pips||From 0.7 pips|
|Commission Per Trade||0||0
Step to open Oinvest trading account for deposit
Well, in just a couple of few minutes, you can open an account by following our step-by-step guide:
- Click the Open Account button in the site’s top right corner.
- You will then need to enter your first and last names, mobile phone numbers, email addresses, and passwords. After clicking Continue, you must accept the terms and conditions, risk disclosure, and privacy statement.
- If you wish to somehow deposit funds into your account, click Not Now.
- In step 4, you must submit the documentation required for verification.
- Use the codes and links sent to each email address and mobile phone number to verify that each is valid.
- Start trading by funding your account.
Oinvest payment methods for deposit and withdrawal
The platform does not disclose deposit or withdrawal methods, continuing the well-established pattern. You will also find Skrill, Neteller, and credit/debit cards on the homepage.
The Withdrawal and Refund Policies section mentions bank wires and a seven-day withdrawal processing time, which is unnecessary and especially troubling for online payment processors.
Oinvest reserves the right to charge traders a fee of €50 if not enough transactions have been made before requesting a withdrawal. That is unacceptable. Clients, especially beginners, have a high risk of losing their funds when making deposits based on such a “right.” Market makers benefit from customers’ losses.
The maximum withdrawal is $100. The withdrawal fee can be up to €50 at the discretion of Invest.
What are the advantages and disadvantages of trading with Oinvest?
- If you’re not yet familiar with trading, you might lose a lot until you figure out how it works. But, on the other hand, you can practice and learn stuff risk-free with the DEMO account since you don’t have to pay for it.
- The platform is intuitive and relatively easy to use with an optimised UX. In a few minutes, you’ll understand how the website works if you visit it for the first time.
- Licensed by the Seychelles Financial Services Authority (FSA), INVEST is a regulated entity owned by Aronex Corporation LTD., incorporated in Seychelles.
- The site offers more than 200 learning resources, such as videos, eBooks, articles, and tutorials. In addition, they are divided into categories based on their complexity level, so both newbies and experienced traders can find helpful information here.
- There are no hidden or unexpected charges. When you trade with Oinvest, you do not pay a commission. You will only be charged for inactivity and deposits. The withdrawal fee varies depending on the payment method.
- Maximum withdrawal speed. The withdrawal period is up to 14 days. The withdrawal is free of charge.
- A trader can customise the duration of any trade. In addition, both the web and mobile app versions provide the option to place stop-loss/profit orders.
- The minimum deposit is $250, not the lowest rate among online brokers. However, the leverage is 1,500, which is still pretty high.
- Several countries cannot access the platform, including AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC.
Trading conditions with Oinvest
In addition to CFDs, it offers them as an instrument to its customers. Therefore, a client makes a profit regardless of whether he buys or sells the asset; he makes it based on the change in its price in the market. CFD products cover various currencies, commodities, market indices, and stocks.
Trading with Oinvest offers the following benefits:
- Scalping is permitted.
- Hedging is possible.
- Deposits are not mandatory, but a minimum is recommended.
Clients can try a DEMO account before opening a real account and depositing real money. Demo accounts are free, and they help clients learn more about the process.
What are trading instruments available on Oinvest for trading?
The platform covers all popular trading assets. As a client, you have access to CFDs on various currencies, commodities, stocks, indices, and cryptocurrencies.
Several Forex pairs are available, including 172 stocks, 18 commodities, and 20 different indices. In addition, you will find hugely popular ones among the available cryptocurrencies like Bitcoin, Ethereum, and Ripple.
Is Oinvest trustworthy and secure?
Selecting a broker involves answering this question very carefully and carefully. Therefore, the broker should always be licensed and regulated by an appropriate regulatory agency. Oinvest complies with this requirement.
The Seychelles Financial Services Authority (SFSA) licences and regulates Aronex Corporation Ltd, the company behind the trading platform. A licence certificate and the broker’s licence number (SD014) are available on the broker’s website.
A CFD broker must also have a high level of security and reliability. Therefore, Oinvest’s hardware and software security protocols should also be examined in this regard.
As far as we are concerned, it also fulfils this requirement. Security measures employed by the trading platform include Secure Sockets Layer (SSL) software, a separate firewall, a SAS 70 certified data centre, and compliance with PCI Level 1 compliance for the encryption of data and transactions.
The official website also states that customer funds are not mixed with company funds. Consequently, investing makes a very trustworthy and secure impression.
Trading platforms offered in Oinvest
We also reviewed Oinvest’s other two platforms in addition to MetaTrader 4. The best option, however, is MetaTrader 4.
Traders can stay in control of their positions with its leading technical indicators and trading tools. In addition, the wealth of analysis tools available to traders allows them to remain informed and competitive.
This proprietary trading platform is available through their desktop and mobile apps and browsers.
A web-based trading platform with fewer tools and charts is also available. MetaTrader 4, also available through web browsers, is better for traders. However, there are no compelling reasons to choose this pared-down browser platform.
Traders on the go can also use the broker’s mobile app. However, even well-designed mobile applications aren’t perfect. An app for a desktop or a browser is usually more convenient for traders. It has a simple layout but is lacking in many key features.
There is no doubt that accessibility has been sacrificed too much in favour of functionality.
Spreads and fees of Oinvest
Spreads are Oinvest’s sole source of revenue, which means all trades are commission-free. Unfortunately, the broker relies heavily on spreads to generate revenue. The EUR/USD spread on a basic account is around 2.2 pips. That’s a high spread.
As account types increase, spreads improve, but minimum deposits rise. For example, the spread on this pair goes down to 0.7 pips with a Platinum account. Certainly competitive, but a massive deposit is required.
The broker doesn’t hesitate to charge other fees despite not charging commissions. A withdrawal from this platform does not incur an additional fee, but that’s one of the few actions that do not. There are steep inactivity fees at the broker.
Fees begin at $80 per month after two months of inactivity. After one month, the fee rises to $120 per month.
After nine months of inactivity, inactive users will be charged $500. Furthermore, the broker may charge an arbitrary insignificant trading activity fee of $50 at their discretion.
You can contact Oinvest directly if you wish to take your complaints straight to them. They have a live chat feature on their website and a contact form. For customer support, the broker offers telephone numbers and email addresses.
Mon-Fri, 6 am to 3 pm GMT, our customer service team is available. Several broker accounts are also available on various social media platforms, but this is not an exceptionally reliable way to contact them.
Oinvest demo account
As we reviewed this broker, it became clear that there are no specific account types to choose from or eventually upgrade to.
The “leading South African broker” is missing something about this aspect.
Through Oinvest’s 14-day demo account, investors can practice trading risk-free. Users can create demo accounts to test out this platform or trading strategies, and they are all free. Of course, the first thing they do is deposit money once they feel confident enough to start trading.
By giving all users access to their comprehensive online education centre, Oinvest ensures all users are fully educated before they begin their trading journey.
Investopedia’s eBooks, extensive courses, tutorials, VOD, and webinars can help investors learn the basic principles of financial trading. Whatever your level of experience, Invest offers a comprehensive academic centre.
Important features of Oinvest
- Wide spreads and fast execution offer transparent terms and trading conditions, with variable spreads for significant FX pairs starting at 0.7 pips. All trades are executed quickly using a straight-through processing model.
- Dedicated account manager: Gold and Platinum Accounts are assigned a dedicated Account Manager whose responsibility is to assist clients with trades, assist with accounts, and provide trading education.
- News alerts: Platinum Account holders can receive real-time news alerts relevant to their destination. This allows them to stay on top of changing market conditions and import areas.
- Offers webinars and video tutorials: Oinvest provides additional value by analysing market trends and opportunity spotting. These features are available to Gold and Platinum account holders to help add even more value.
- 24/7 trading: The ability to short cryptocurrency pairs, use leverage, and trade around the clock, even on weekends, is unique to cryptocurrency trading platforms, unlike most CFD platforms.
Oinvest is taking the proper steps as a new player in the industry. FSCA regulations have solidified the broker’s credibility as a legitimate broker. In addition, modern security technologies ensure a secure trading environment for clients and their investments.
Few new brokers offer tight spreads and no commissions without waiving deposit fees. It is hard to understand how Invest can be willing to charge so little for trading.
Trading and brokerage firms have embraced MT4 as an unofficial standard because it is versatile and powerful. For beginners as well as professionals and experts, the platform is perfect. The fact that it is available on mobile, web, and desktop platforms, as well as its scalability, makes it a great choice!
Oinvest has so far shown itself to be a trustworthy, reliable, and regulated broker, even though there is still room for improvement. The brand is therefore recommended for forex and CFD traders.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst