Overview of OInvest Review
The broker OInvest is situated, operational and regulated in South Africa. It offers a standard trading account that is equipped with higher leverage levels and low spreads. It also claims to offer trading without commission on MetaTrader trading platform. The broker also helps the trader by educating them with providing educational materials like e-books, webinar, free practice section and more. However, we have identified some advantages and disadvantages to it. This OInvest review will shed light on them.
The company called BASFOUR 3773 company behind the brand OInvest is registered and regulated by South African local financial watchdog labelled as a Financial Sector Conduct Authority. It’s predecessor Financial Service Board have taken steps to improve its regulation and adopted new policies and developed FSCA. However, compared other financial regulators around the world like FCA of UK or CySEC of Cyprus it is less credible. Another possible benefit is it’s provided world-famous trading terminal MetaTrader. It is a one-stop destination to facilitate seamlessly fast and accurate trading. The spreads of 0.7 pips are very tight and affordable. They are also commission-free so the lower trading cost of OInvest. Many trading assets including 50 FX pairs, cryptos, commodities and stocks are offered for trading.
The broker supplies a leverage level of 500:1 that are very lucrative. However, one should be cautious while trading with them as they can drain investments in the fraction of seconds causing huge losses to user. The trading conditions that we have shared with you so far are derived from the trading platform. The broker does not hesitate to hide such crucial information on the official web page. It makes us think about the potential fraudulent nature of it as many scam brokers have the same nature. Also, the broker does not facilitate trading for traders from countries like the USA, Iran, Israel, Canada, Australia, North Korea, Syria, Sudan Cuba and many others. Most of them are highly regulated trading markets. And it raises further suspicion about OInvest.
Is OInvest scam or legit?
The broker does hold a license from FSCA but it is a reluctant regulator. The trading condition is somewhat careless. The banned levels of leverages 500:1 are offered and they can bring misfortune to the user. Also, it accepts traders from the limited countries. Therefore it is a potential scam broker 2020. Avoid it to dodge potential scam.