Is the fee charged on a specific date. Such as January, April, July, October or on the anniversary of when you opened the account?
Hi Laramie,
Yes you will. The fee is €50 per quarter. The fee is reduced by the value of any commissions incurred during the quarter.
Best regards
davyselect
I have shares in a US company that I transferred to COC from Mercers in March and now obvs have to transfer again, approx. €38k and the easy option seems to be Cantor Fitzgerald. Not planning on buying or selling for now, just need a holding account. Unf my knowledge of brokers etc is very limited, does anyone have experience with them? Thanks
You have left it very late to set up an account with a different broker and transfer the share.I have shares in a US company that I transferred to COC from Mercers in March and now obvs have to transfer again, approx. €38k and the easy option seems to be Cantor Fitzgerald. Not planning on buying or selling for now, just need a holding account. Unf my knowledge of brokers etc is very limited, does anyone have experience with them? Thanks
Is the fee charged on a specific date. Such as January, April, July, October or on the anniversary of when you opened the account?
Hi Davy Select,
Thanks for coming on to the forum. I wonder could you answer my post 53 above? Thanks
I am confused by this statement. Do you actually hold the physical share certs for the client? When you say you can sell them immediately....earlier you said that it takes 2/3 days to lodge these to your account.....not really immediately.....We understand that some clients prefer to hold share certs and we are very happy to accommodate trading in same. We would point out that there is no extra charge to hold these shares on your account and have them available for immediate sale if you so wish.
I am confused by this statement. Do you actually hold the physical share certs for the client? When you say you can sell them immediately....earlier you said that it takes 2/3 days to lodge these to your account.....not really immediately.....
OK. I sell in the morning on a T+2 basis. That afternoon the share price drops and I need to buy these again or some other share. Can I purchase immediately or do I have to wait until you receive my fund from the sale?Once a sale has been completed (online or phone), the standard market settlement period (typically T+2) will apply. Clients do not have the option of choosing the settlement date.
Unfortunately when Davy Select sell your Sterling shares they convert this to Euro in your account BUT they do not show you the rate of exchange they used to make this conversion. They only say it was the rate of exchange that was applicable on the day. Your account should clearly show the rate used because when you need to do another trade in Sterling, you will have to factor in the exchange rate used.
Campbell O'Connor always showed the rate of exchange they used when they converted Sterling to Euro.
OK. I sell in the morning on a T+2 basis. That afternoon the share price drops and I need to buy these again or some other share. Can I purchase immediately or do I have to wait until you receive my fund from the sale?
You would imagine that Davy Stockbrokers would have the latest technology on their trading platform.
When you did a trade with Campbell O'Connor, on your contract note, you were shown the exact time of your trade (with Davy you are only shown the date of the trade).
Campbell O'Connor also showed you the exact purchase price that you received to 6 decimal points. For example you might have received a price for Tesco at £2.37625. On the Davy platform they just show £2.37.
I agree that if you have a Sterling or US Dollar portfolio that is expressed in Euro in your account, they should display the rate of exchange used to value your portfolio.
Unfortunately when Davy Select sell your Sterling shares they convert this to Euro in your account BUT they do not show you the rate of exchange they used to make this conversion. They only say it was the rate of exchange that was applicable on the day. Your account should clearly show the rate used because when you need to do another trade in Sterling, you will have to factor in the exchange rate used.
Campbell O'Connor always showed the rate of exchange they used when they converted Sterling to Euro.
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