Let’s explore if an Oinvest Scam is a possibility in this review
The Forex industry is growing very quickly, so it is no surprise that more and more brokers are popping up left and right, seemingly on a daily basis. OInvest is seemingly one of such companies, that sort of sprouted into the industry out of nowhere. The company comes from South Africa and states, loudly, on its website that it is a global company, providing services to countries all around the world. While this might be true and they do offer their services globally, the issue with the company lies within the fact that they are more of a well known secret rather than a popular Forex broker around the world. As a result, some people consider that an OInvest scam is a possibility, but we have many positive things to say about the broker, even if the broker is not good enough to be considered one of the best in the industry.
The first thing you notice, once you get yourself on the website, is the design. When creating the OInvest.com review we had a number of qualms with the design that we managed to get over in a little bit, after paying a little more attention. The website has a number of qualities that it takes from bigger, better brokers. A simple design with a large homepage showcasing some of the details about the company. Great! Except there are several problems. The first problem is the fact that the company doesn’t really showcase much information on the homepage, other than mentioning the fact that there is a platform to trade on and an educational platform. OInvest South Africa has a terrible navigational menu, designed so simplistically, it would make you not want to navigate through the website at all. But, the good news is the design works in that it allows you to get where you’re going and learn the kind of information you need.
Some might there is not much point to navigation – going through the different parts of the website sometimes feels like a chore that does not provide you with any extra information that could be useful. You end up travelling to one ugly page after another. But, while the information provided on these pages seems very general, it does provide you with enough knowledge about withdrawals, deposits, and other operations you might be interested in conducting with the broker. The thing with OInvest SA is that, despite claiming to be a global company, it does not provide the users with any other language options, other than English and Arabic. This is a bad sign, means that the company needs to get to translating for international audiences. We are assuming that the lack of languages beyond English and Arabic is because the audience they cater to is relatively small, and not a sign of a lack of professionalism or that Oinvest fraud is a possibility.
Once you have navigated through the website enough, you will discover that the brokerage offers several tiers of account types. These are Silver, Gold, and Platinum. Three tiers are not the worst thing they could be offering, but the way they are offering these things is a little annoying. They specify several things on this page, which is a good thing to see when you are trying to write about the OInvest Forex brokerage review. The broker wants you to know several things: the spreads change the higher up in the tier list you go, becoming smaller. This encourages you to want to become a high tier user, as it should. The leverage also gets much higher as you go up the tier list – from 1:200 from the lowest tier to 1:400 at the highest.
This seems to be a way to encourage newcomers to the platform to invest a lot of money. The problem is, they do not specify how much money you need to invest to become a high tier trader. They simply say that with higher time and resources invested, you go up the tiers. This information can be easily gathered by simply getting in touch with the broker through their customer service email or phone number, or just by sending a message through the OInvest FX brokerage website.
The broker also offers a number of bonuses, while the bonus terms that the company offers can be easily found on the website. The broker does not seem to be offering any kind of bonuses at the time. Although the wording we found in their terms and conditions is enough evidence to say that they do indeed provide bonus offers to their users. We spent some time looking at and exploring the bonus terms that Oinvest offers. The broker specifies, at one point in their terms, that for every 10 US dollars of a bonus they offer, the broker specifies the exact multiplier of the bonus amount of money that the trader would have to trade in order to be able to claim it. This type of honesty and transparency is highly appreciated. It is very unlikely that anyone who signs up for a $10 bonus will not be aware of the information, but we still encourage to get to know the terms, especially the 90-day limit (which they impose) of time the trader has to trade the money within in order to be able to claim it, from when the bonus is received. Just a way for the company to get more trust from us.
One of the most important qualities of a Broker is whether they have a license to operate within the borders of their country (or countries) that they are claiming to be operating within. The question of is OInvest legit is answered by their claims that they are licensed by the FSCA. We decided to double-check – is OInvest FSCA regulated? We took the license number the company claims to be operating with, the name of their parent company and the OInvest name and travelled to the FSCA online resource. There we used all three to search for a related license, and we found the license of the company, which is the permission to operate within the country and offer their services to international traders as well. As a result, we have concluded, that the company is regulated by the FSCA and is trustworthy. Which we are going to use as another reason for you to want to trade with the broker.
Just from exploring the details about the company, as well as the general information about them in terms of their qualities, their reputation in the industry and so on, give us the right to say that the company is legit. Is Oinvewst trustworthy? Yes, they are, and we recommend them over many of the brokers that you might see on the internet. Just make sure you pay attention to the bonuses you are getting and the trading you do, and you should be fine.