Newcomer- looking to buy shares!! Help needed!

S

smalldeal07

Guest
Hi all.
Im looking to buy around €2000 in stocks. I have never bought stocks before and im confused with all the different stockbrokers and their rates. Maybe with only €2000 would I be better buying them through my bank? All help and advise greatly appreciated!
 
Assuming, in the first place, that equity investments are appropriate for your specific needs (not enough details posted to comment on this)...

For €2K you might be better looking to invest indirectly through a low charges unit linke managed or index tracking fund. Have you read the key posts linked at the top of this forum including the AAM and IFSRA guides to savings & investments?
 
For that low amount you might be better going direct with an American automated exchange. Broker fees could make it not very worthwhile. However, check outCheck out Ameritrade, Datek or E-Trade.

Some of the "Pros" with this approach are:
- low cost for transactions, $5-15 per trade
- easy to use
- immediate transactions (no delay trying to contact broker)
- up to you to declare your own taxes in Ireland.

Some of the "Cons":
- increasing your exposure the to the US Dollar
- a bit of a wait to set it up. You have to fill in form, sign it and send it back them before it is set up. So, it might take a couple of weeks before you get going
- limited to a certain number of exchanges (e.g. Nasdaq)
- up to you to declare your own taxes in Ireland (this is both a pro and a con!!)

Happy trading!!
 
Check out Ameritrade, Datek or E-Trade.

Datek no longer around, taken over by Ameritrade a few years back. Since 9/11, Ameritrade no longer accepting accounts from Ireland.
 
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