RECOMMENDED FOREX BROKERS
To judge Obrinvest by its looks is the first mistake we made. This here is a rare broker, whose quality exceeds its visual aesthetics, making this an interesting broker to review. Yet, as more time passed, Obrinvest unique nature dissolved, leaving only trails of an average FX broker. Do not let these speculations put you off, however. Obrinvest might not offer anything new, but that does not mean that it is not worth your time. The following review tells you everything there is to know.
Today’s broker is operated by OBR Investments Limited, a company located in Cyprus, and regulated by the local CySEC, one of the world’s top license issuers. CySEC brokers are some of the best in the industry. The Cypriot agency is notoriously demanding of its regulated entities, requiring from all its brokerages a €730 000 proof of financial stability, segregated bank accounts, and a range of scrutinizing prerequisites that must all be met. A big advantage of CySEC regulated brokers is that they offer a client compensation fund of up to €20 000.
To register an account, the user passes through a very solid account creation process that solidifies this broker as legitimate. Very few unregulated brokers would ask dozens of personal income questions, inquiries about investment experience, and other similar questions. However, at one point we reached the ID verification step, which stopped us in our account creation.
Not to worry though, seeing that Obrinvest is legitimate the trading information on the website should be consistent with the live account trading details. With that said, we were still able to access a fully functioning trading software for a browser. There we read a EUR/USD spread of 2.9 pips, which by far one of the biggest blunders Obrinvest pulls of. This high cost of trade is not at all favorable to users. Let us hope that once users verify their accounts, their spreads will be at least twice as low. The leverage for retail clients in the EU is capped at 1:30 by ESMA. Pro clients can apply for a bigger leverage, but the requirements for a pro account are hard to meet. The tradeable assets are forex currency pairs, commodities, stocks, indices, and cryptocurrencies.
The website is available in English, Italian, Spanish, German, Dutch, Portuguese, and Swedish.
The broker offers as main trading software the MetaTrader 4. We were unable to open a practice account with this, but we can guarantee that the MT4 is available to users of Obrinvest.
The brokerage also comes with its own trading software, which we allege to be proprietary. We find it to be a decent addition to the broker’s repertoire. Both the quality of features and their quantity reach the industry standards.
This terminal offers the following features: pending orders, stop/loss and take/profit, chart customization opportunities, one-click trading, price alerts, live market news, an economic calendar, and more. There is no real comparison with the MT4, but this trading terminal does hold it on its own.
OBRINVEST MINIMUM DEPOSIT
CySEC guarantees that all deposits are safe and secure 100% of the time.
The payment methods according to the deposit area in the user dashboard reveals the following payment gateways: credit and debit cards As of now, there seem to be no payment methods, which is quite unacceptable.
The minimum deposit is €250.
There are no fees for deposits.
Card deposits may take up to 3 days.
OBRINVEST WITHDRAW METHODS AND FEES
All withdrawals are safe and sound. That is the CySEC guarantee.
The withdrawal section in the user area only requires from users a reason to withdraw. There is no withdrawal method and a minimum amount indicated there. We rely on the website for this information.
The processing of time for withdrawal requests has not been disclosed. Usually, wire transfers take up to 5 days to process, while card requests may take up to 3 days.
The withdrawal fee is $30 for wire transfer, and 3.5% for credit and debit card withdrawals. Judging by this information, the user may withdraw from credit/debit cards, as well as wire transfer. There is also an €80 withdrawal fee that Obrinvest can apply to a request in case: there is 1 or less than one open placed trade altogether; if the ID info is inaccurate; if a refund is issued by Obrinvest for a number of reasons.
There is no minimum withdrawal amount.
Obrinvest has proven to be trustworthy, and gives us enough reason to give it a high score! Too bad that the spread is so high. This is the reason why we urge users to tread carefully. Otherwise, everything else Obrinvest offer is top-notch.