Editor’s Note: Why OBRinvest Doesn’t Suck In 50 Words
Regulation! It’s of utmost importance to know that the broker you are trading with is regulated by a major financial watchdog and CySEC is one of the Big Three (the other two being ASIC and FCA). Sure, there are other regulators out there and I don’t want to rain on their parade saying that they are not doing a good job but as far as I’m concerned, I would rather have my money with a broker regulated by a prominent financial supervisor.
Why OBRinvest Sucks In 50 Words
The minimum deposit is $250 and the next tier up is $25,000. This basically means that common folk will only have access to the Basic account. Of course, if you have 25K and are willing to invest it, more power to you because OBRinvest is a regulated broker, so your money should be safe.
Is OBRinvest A Scam
With regulation coming from CySEC, the chances of OBRinvest being a scam broker are extremely slim. The broker also enjoys a positive overall reputation among traders and is highly rated on major forums and user review sites. We consider OBRinvest a safe broker but you should always be extra cautious when money is involved.
Should I Open An Account With OBRinvest?
OBRinvest is a fully regulated and reliable online broker that offers CFD trading on various asset classes, including currencies, cryptocurrencies, stocks, indices and more. The owning company is OBR Investments Limited, located in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 217/13. The exact launch date is unknown but the owning company is regulated since 2013 so we know we are dealing with an experienced broker.
The only thing that could deter people from opening an account with OBRinvest is the relatively high initial deposit of $250, considering that some regulated brokers offer accounts starting at $100, $50, or even lower. On the other hand, $250 is not that high and besides, it’s still your trading money, not some kind of fee.
The website has a user-friendly layout, with information that’s easily accessible and well structured. They also offer a FAQ and a Help Centre, which I know it’s not something out of the ordinary but lately more and more brokers “forget” to make these features available to their clients.
The trading platforms have a bit of flavour for everyone: OBRinvest offers a web-based platform and the ever-popular Meta Trader 4. The former can be accessed from any desktop device with an internet connection, while the latter requires download and installation but offers a lot more features, types of orders and technical analysis capabilities.
The account structure is where OBRinvest falls a bit short: the Basic account requires a $250 deposit, which is okay but the next account (Gold) involves a $25,000 deposit, followed by Platinum at $100,000 and VIP at a quarter million US Dollars. The advantages for a bigger account are alright but nothing to write home about: you will get slightly lower spreads and 1 monthly free withdrawal for Gold, 3 free withdrawals per month for Platinum and no fees for VIP. It’s up to you to decide if that is worth the extra investment.
Overall OBRinvest looks and feels like a solid broker and a good choice for new traders and experts alike but the only caveat is the above-average spread for the Basic account: 3.2 pips for EUR/USD. This is floating and can change depending on market conditions but apparently it can only widen because according to their website, spreads go “as low as” 3.2 pips. Bottom line: good broker but with a bit of tweaking in the spreads it can be a great broker.
OBR Investments Limited is located at at 12 Archiepiskopou Makariou Avenue III, Office No. 201, ZAVOS KRISTELLINA TOWER, 4000, Mesa Geitonia, Limassol, Cyprus. The broker can be contacted at phone +357 2 526 2740 and email [email protected]
At the time of writing we couldn’t locate any major complaints made by users against this broker. Moreover, OBRinvest is rated above 4 stars (out of 5) on both ForexPeaceArmy (FPA) and Trustpilot. FPA is known to hunt fake reviews and to expose them, so we can safely say that the 4+ star rating is probably legit.
OBRinvest Regulatory Warnings and Announcements
Thus far, CySEC hasn’t issued any fines or warnings against OBRinvest. As always, we will keep monitoring and will amend this section if one or more regulators issue any warnings.
The minimum withdrawals via wire transfer is 120 USD or 100 EUR and there is no minimum amount for e-wallets and credit/debit cards. The processing times are fast – 24 business hours – but up to 5 business days may pass until the money reaches your account. The Basic account benefits from 1 free withdrawal, while higher tier accounts get 1 and 3 monthly free withdrawals (Gold and Platinum respectively). The VIP account gets free withdrawals all the time.
Trading analysis, market insights, Market Buzz and more from Trading Central, which is one of the oldest and most respected companies in the business. On top of this, OBRinvest offers recommendations via TipRanks, derived from the opinions of their analysts.
User Friendliness 18/20
The website has a modern layout, it’s easy to navigate and offers all the necessary information translated in 8 languages. Demo accounts are available, as well as mobile apps. Clients from some jurisdictions, including the United States are not accepted.
Range of Markets, Spreads and Leverage 16/20
The basket of tradable assets is deep and can satisfy the most demanding traders. There are over 100 assets, including currencies, cryptocurrencies, indices and more. The spreads are a bit high (3.2 pips for EUR/USD) and leverage goes up to 1:30 for retail clients and up to 1:400 for professional clients.
Deposits and Withdrawals 18/20
The available methods are credit/debit cards, wire transfer and e-wallets (Skrill, Neteller, etc.; e-wallet availability may depend on client’s location). The processing time is short (24 business hours) and there is no minimum withdrawal amount for cards and e-wallets; for wires the minimum is 120 USD or 100 EUR.
Fees and Support 18/20
OBRinvest doesn’t charge any withdrawal fees, however, clients are subject to fees charged by the corresponding banks: 3.5% for cards and 30 USD/EUR/GBP for wire transfers. After a month of account inactivity the client will have to pay an 80 EUR inactivity fee. Support is available via live chat as well as email and phone.
Trading Central analysis, market insights, economic updates, analyst views from TipRanks as well as webinars and trading e-books.
OBRinvest Overall Ratings (88) + Regulated (+3) = 91/100