L
lemur
Guest
You are clearly acting as a middleman and charging nice fees for it. I use a couple of American brokers. I buy direct. $8 commission for 1000 shares and $1 per option contract. Also use IG mkts in the UK 2c/share for CFd's.
Hi Lemur,
What sort of stocks are you talking about? UK, US, Irish? I have a client who is in Ireland, actually in Merrion Street. He buys Irish and UK stocks through me. I give him something like 1% because he is a good client. Also I have clients in US who trade US options, US & UK stocks also at 1%. They use me because they say US brokers don't know anything (as if I do)
I use CIBC in London to trade US stocks. This is not cheap as you pay brokerage in a net price (i.e. 15 contracts COP options, gross $9 net $9.10 (bartered down from $9.15)) plus my commission of 1% So that's around £150 all in.
You can of course use London MMs to trade US stocks but this is even more expensive.
I might add we clear through Pershing so the currency trades are really cheap.
I only know one Irish broker that's Davy. Presumably there is a standardish commission structure in Ireland?
How do you trade exactly?
The problem with the discount brokers is that though nominally they charge a lower commission they get you with a wider spread than a full service broker. So the discount broker concept is a largely a con. The only cheap way to buy shares on a conventional purchase is to have a US account where you can buy 1000 shares for less than $10 commission with the online brokers. The cheapest one is IB.
Has anyone any idea on actual performance through a stockbroker managing a portfolio of shares in an advisory capacity ?
Stockbrokers dont publish such performances, I wonder why?