National Irish Bank share dealing

K

kingkenny

Guest
hi folks,
was wondering if any of you have any feedback to give on using NIB as a share dealing platform? I set up a custody account with them and have been buying US equities. I find the service satisfactory from an order execution perspective but recently have found the fees/commissions getting more expensive, and poor fx conversion rates.
Would appreciate what others think of them, or could recommend an alternative.
 
I use them also but I haven't bought anything in a while. I thought they were good, with good range of equity coverage. However, I didn't know they'd upped their charges. What are they now?
 
i wasn't aware of increases in charges. any examples of what charges were before? I find the coverage of shares good - can deal online in US, canada, most of europe exchanges including UK listed ETFs
 
Hi Kingkenny, I had an online execution only a/c for yrs with Goodbodys thro AIB online. I found the service "ok" . Could trade US/UK/IRL markets. But the commission - based fee's were OTT. I bought shares last yr in a US company, paid what imo was a hefty fee AND also got crucified with a crap FX rate. It also took a long time to execute my order ( a few days) and I had to keep checking back to see if it was executed. Goodbodys also charged an annual fee of €26 as icing on the cake! That did it for me. I have no idea what all these fees were for. No real "work" was involved with my transactions - as far as I can tell, the computer did the work. I don't expect to pay nothing for a service, even a computer service, but I really resent being screwed with high fees. I looked around various options and plumbed for TD Waterhouse with set fees of €20 per trade. I think they offer a lwr fee of €15 if you are a "frequent trader". The FX was poorer than I could get on currency.ie but I felt it wasn't extorionate. Despite it costing me €13 per company share to transfer out of Goodbodys, I felt it was worth it. From memory, I estimated that if I liquidated all my shares for cash, the difference between Goodbodys and TD would be in the 1000's in fees and charges. TD Waterhouse's platform is much better imo, and more user friendly. But it has some display issues that are mentioned elsewhere in AAM.
 
Kingkenny, I only know this because I specifically asked the other day. Like Camel and Marksa, I haven't used the service in a while (although I hope to soon) but I was told they definitely have not put any fees up since they introduced the service back in '06... Maybe its the exchange rates themselves that are getting more expensive instead...?

I find the custody account service extremely easy to use though. All I need is the money to invest and I'll act on some of those post-Christmas stock-tips that were published all over the place...!