What is OreyiTrade?
OreyiTrade is a Portuguese broker that entered the Spanish market in 2009.
This broker belongs to the Orey group, an important Portuguese financial group which started its activity in the financial sector back in 2004.
It is currently regulated both in Spain by the CNMV and in Portugal.
This group was founded in 1886 and has had a long business history, focusing early on in the transportation and industry sectors.
As is logical, this group has a very important presence in the Portuguese-speaking markets, especially in the growing Brazilian market.
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This broker offers the possibility of trading and investing in a wide range of products such as stocks, futures, forex, CFDs , options, ETFs, etc., in a global offer of more than 20,000 financial assets.
As usual this broker offers the possibility of trading a practice account of $ 100,000 before starting with a real one.
OreyiTrade customer service
Being a traditional online broker, we can be sure that it has excellent customer service.
We can contact them on the phone 911 269 055.
The contact email is firstname.lastname@example.org
But we can also contact them at their Madrid office at Calle Suero de Quiñones, 32, 2ºL 28002, Madrid.
Also, to realize how safe this broker is, it has a download of the CNMV complaint sheet, but this is something that we will almost certainly not have to use with this broker.
Open account with OreyiTrade
Opening an account with OreyTrade is relatively easy.
We can do it by two basic procedures:
- Through the online form
- Filling out a physical paper form and submitting it
Once we send our data and they are received and approved, they will ask us to prove our residence and our identity, for which we will have to send our identity documents and proof of residence, which can always be a water or electricity bill, for example.
Properly signed copies of identity documents and proof of residence must be mailed.
Training with OreyiTrade
Likewise, it offers free courses and training for its clients.
Among the free material we have several tutorial videos, for example, of the platform, on how to operate in the markets, among which we have: how to use charts, analyze charts, work with charts, presentation of modules, etc.
Likewise, we have tutorial videos on the Forex markets, CFDs, stocks and futures.
Another of the free training offers is in the form of webinars which are provided on a regular basis.
Leverage with OreyiTrade
In July 2018, a new maximum leverage will be applied for traders residing in Europe by ESMA regulations. We have it in the following table:
|Main Forex pairs||30: 1 or 3.33% margin|
|Main indices, gold and minor Forex pairs||20: 1 or 5% margin|
|Lower indices, commodities and exotic Forex pairs||10: 1 or 10% margin|
|Actions||5: 1 or 20% margin|
|Cryptocurrencies||2: 1 or 50% margin|
OreyiTrade platform, rates and markets
This broker offers a web, PC and mobile platform. They are based on the well-known Saxotrader.
One of the main characteristics of this broker is that it does not charge maintenance or custody fees, which makes it a low cost broker for long-term stock positions.
However, you will be charged for accounts that are inactive for more than six months or whose balance is less than € 250.
Likewise, it will be necessary to pay for having market data on futures and stocks, unless a minimum number of operations per month is reached.
OreyTrade provides access to more than 19,000 shares, 8,000 CFDs, 200 futures contracts, 182 Forex pairs and more than 3,100 ETFs.
OreyiTrade Commissions according to Standard rate
|Orey Trade||C / V Commissions||Others|
|Spain shares||Up to € 12,000: € 6|
More than 12,000: 0.10%
|US Shares||Share price> $ 10: 0.15% or $ 15 Share|
price <$ 10: $ 0.04 per share or 0.20%
|For standard rate.|
Other rates according to account
|Germany Shares||0.065%. Minimum € 18|
|France Shares||0.85%. Minimum € 15|
|UK Shares||0.065%. Minimum 15GBP|
|Futures||Eurex: € 3; CME (Emini): $ 3; NYBOT: $ 3||Market expenses aside|
|Forex||EURUSD: 1.5 pips; GBPUSD: 2.5 pips; USDJPY: 2 pips||<50,000 units: commission of € 10|
|CFDs Shares||Germany: 0.09%. Minimum € 8|
Spain: 0.09%. Minimum € 8
US: 0.15%. Minimum $ 15. 0.02 x share for shares priced less than $ 10
|Financing cost depending on Libor and Libid|
|CFDs Indices||IBEX: 7; SP500: 0.75; Nasdaq: 0.75; DAX: 2||Idem financing|
|CFDs Raw Materials||Copper: 0.6; Gold: 0.75; Oil Crude: 0.06||Idem financing|
CFDs commissions with Direct Access will have a higher amount. For example, 0.20% in Spain with a minimum of 22.5 EUR and the same for the German stock market. Check the other rates and conditions with the broker.
In recent times Oreyitrade has made an effort to lower commissions on numerous products, making its trading offer much more competitive.
For example, Forex spreads have dropped quite significantly, with EURUSD dropping from 2 to 1.5, GBPUSD dropping from 4 to 2.5, and USDJPY from 3.5 to 2.
Other commissions that have dropped are CFDs, both on stocks, indices and raw materials. This is appreciated because it makes trading in these products much more efficient.
Stock CFDs are down from 0.15% to 0.09% in many markets like Spanish or German.
Likewise, index CFDs have lowered the spread considerably, from 3.5 to 2 on the DAX or from 1 to 0.75 on the SP500.
In raw materials it has also gone from 0.08 in oil to 0.06, or in gold from 1 to 0.75.
But there is not everything because the commission of the shares in Germany, France, the United Kingdom and other markets has also been lowered. For example, in Germany it has decreased from 0.13 to 0.065%, half, although the minimum remains the same.
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Other OreyiTrade fees
With Oreyitrade we will have another series of rates.
- If we have assets of less than 100,000 euros, they will charge us 25 euros a month or 300 a year. For more than 100,000 euros, 0.3%.
- Punctual statement on the account: 2 EUR
- Various declarations: EUR 15
- Transfer costs: various
- Information for tax returns: 50 EUR
- Dividend payment: up to 1.5%
- Interest payment: up to 1%
- Withdrawal of securities: up to 0.20%
This is another of the national brokers who do not charge custody and maintenance costs. This, together with its membership in a centennial investment group, make it one of the strongest options in the Spanish and Portuguese market.
As for the opinions, we can find many on websites related to the economy such as Rankia or bubble info.
In most cases, they are positive or neutral opinions, the only negative points being how expensive the broker can be in any product.
However, this is the same in all similar brokers, of a national nature. As in those brokers, we will hardly see accusations of fraud against this broker, which we do see a lot in various international CFD or Forex brokers, especially in exotic countries.
As for the purchase-sale commissions, it is in the national sector average.
Although it is a broker that does not have commissions for custody in shares, it does have several commissions for various concepts that we would do well to check before opening an account, especially if we have a specific specific operation for us, such as the collection of dividends, for tax declarations, etc. Although normally, these commissions should not be very different from similar brokers.
A commission that customers do not like very much is the account maintenance when it is 0 for a season, which creates many complaints that we can see in forums such as Rankia, for example.
This broker is totally serious and we will not easily find serious complaints regarding it. Usual characteristic of national brokers of traditional type of shares.