OINVEST Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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Many clients of OINVEST have complained that this broker urges to invest more and more but does not allow withdrawal and when client tries to withdraw the broker freeze their account. Complete scammer.
Deposit 100,000. The customer service said my bank card info was wrong. And I need to pay 15% of my account balnce to unfreeze my account.
Oinvest has emerged as a notable player in the online trading arena since its inception in 2018. With a focus on providing a user-friendly trading experience and a wide range of assets, it appeals to both novice and experienced traders. However, the broker also faces scrutiny regarding its regulatory status and customer service practices. This review synthesizes key findings from various sources to provide a comprehensive overview of Oinvest's offerings and potential drawbacks.
Note: It is important to highlight that Oinvest operates through multiple entities in different regions, which can impact the regulatory protections available to traders. This review draws on a variety of sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Experience | 6 |
| Trustworthiness | 5 |
| User Experience | 7 |
| Overall | 6 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding the broker's services.
Founded in 2018, Oinvest is operated by Aronex Corporation Ltd and is primarily based in Seychelles, with a focus on serving clients in Africa and Asia. The broker provides access to the widely popular MetaTrader 4 (MT4) platform, allowing traders to engage in forex, indices, commodities, and cryptocurrency trading. Oinvest is regulated by the Financial Services Authority (FSA) of Seychelles, which raises some concerns due to the jurisdiction's reputation for less stringent regulatory oversight compared to more established regulators.
Regulated Areas: Oinvest operates under the FSA of Seychelles, which offers a degree of regulatory oversight, but its reputation as a tax haven may raise concerns for some traders. Notably, the South African branch of Oinvest lost its license in 2020 due to regulatory violations, which has led to skepticism regarding the broker's trustworthiness.
Deposit/Withdrawal Currencies: Oinvest accepts deposits and withdrawals in multiple currencies, including USD and ZAR. The broker offers a minimum deposit requirement of $250, which is standard among competitors.
Bonuses/Promotions: There is limited information regarding bonuses or promotions at Oinvest. However, some sources mention a reduction in swap rates for higher-tier account holders.
Tradeable Asset Categories: Oinvest provides a diverse range of trading instruments, including over 50 currency pairs, 33 cryptocurrency pairs, 17 commodities, and 194 stock CFDs. This extensive offering allows traders to diversify their portfolios effectively.
Costs (Spreads, Fees, Commissions): Oinvest does not charge commissions on trades, deriving its revenue from spreads. The spreads can be relatively high, starting at 2.2 pips for the silver account and decreasing to 0.7 pips for the platinum account. Additionally, there are significant inactivity fees that escalate over time, which could deter traders who do not maintain active trading.
Leverage: The broker offers leverage up to 1:400, which is appealing to traders looking to maximize their exposure. However, it is crucial to note that higher leverage also increases the risk of significant losses.
Allowed Trading Platforms: Oinvest supports multiple trading platforms, including MT4, a web-based platform, and a mobile application. While MT4 is well-regarded for its features and usability, some reviews suggest that the web and mobile platforms could benefit from further development.
Restricted Regions: Oinvest does not accept clients from several countries, including the USA and various other jurisdictions. This limitation may affect potential traders seeking to join the platform.
Available Customer Support Languages: Oinvest provides customer support primarily in English, with services available through live chat, email, and phone during limited hours. The lack of 24/7 support has been a point of criticism among users.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 7 |
| Customer Service and Support | 5 |
| Trading Experience | 6 |
| Trustworthiness | 5 |
| User Experience | 7 |
| Overall | 6 |
Account Conditions (6/10): Oinvest offers three account types—silver, gold, and platinum—each with varying spreads and leverage options. While the minimum deposit is reasonable, the escalating inactivity fees may deter less active traders.
Tools and Resources (7/10): The broker provides a variety of educational materials, including e-books and video tutorials, which are beneficial for traders of all levels. However, access to some resources is limited to higher-tier accounts.
Customer Service and Support (5/10): Customer service is available via multiple channels, but the limited hours and mixed reviews on responsiveness raise concerns. Many users have reported delays in receiving assistance.
Trading Experience (6/10): The trading experience on MT4 is generally positive, but high spreads and inactivity fees could impact profitability. The availability of a demo account is a plus for new traders.
Trustworthiness (5/10): Oinvest's regulatory status is a significant concern, especially following the loss of its South African license. While it operates under the FSA of Seychelles, the lack of a robust regulatory framework raises questions about the broker's reliability.
User Experience (7/10): The website is user-friendly, and the platform offers a range of features. However, the lack of clarity regarding fees and account conditions could lead to confusion for new users.
In summary, while Oinvest presents a variety of trading options and educational resources, potential traders should exercise caution due to its regulatory history and the high fees associated with inactivity. The broker's strengths lie in its asset diversity and user-friendly platform, but the concerns regarding trustworthiness and customer service cannot be overlooked. As always, traders are encouraged to conduct thorough research and consider their individual trading needs before deciding to engage with Oinvest.
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