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mercman
Guest
A broker I use is www.selftrade.co.uk, based in London. Owned by Lloyds Bank and quite good. Transactions are £12.50 per trade (in and out). Well worth checking out.
The Cheapest Irish Stockbroker
- Thread starter Brendan Burgess
- Start date
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mercman
Guest
donzo - very easy = the normal things are required to open an account. And you must lodge sterling funds into your account before you may start trading. No other charges are applied and they pay interest on your cash deposits
chippie1974
Registered User
- Messages
- 39
Mercman,
I have been looking at these today, can't seem to find it but do they allow trades in ISEQ companies?
Also when one tries to set up an account, it says the following "Details of a UK bank account in your name. (You must have a UK bank account to hold a Selftrade account, except if you are applying for a Child Trust Fund, where bank details are not mandatory.) " Do you do your trading from an irish bank account?
Thanks,
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mercman
Guest
I use a UK Bank account. However if you ask your Irish Bank they will be able to facilitate you with a sterling account. Failing that check out the details of a UK branches of the big boys here. You will be able to find their UK branches from their websites. As there are no exchange control restrictions here there is no problem for an Irish Resident holding a UK bank account.
The only time I have traded Irish shares in the past five years is if they are listed in London. Normally I choose not to trade Irish shares.
I chose a quite a few years ago not to use Irish brokers. They are too expensive and also unprofessional for me compared to UK brokers.
The only time I have traded Irish shares in the past five years is if they are listed in London. Normally I choose not to trade Irish shares.
I chose a quite a few years ago not to use Irish brokers. They are too expensive and also unprofessional for me compared to UK brokers.
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electroslave
Guest
'Broker going belly up is one concern with nominee accts' was a comment on the thread. Alot of brokerages dont take risk and literally just broker trades, so make a fee on buying and selling securities in a matched way. How much risk they have on their own books would have to be researched. Its a really good question though. If a brokerage operates a pure brokerage then then will make money as long as people trade. If they are investing themselves and actually trading a book then it would be useful to know. Does anyone have any knowledge about the Irish brokers and what their gig is?
Ben Graham
Registered User
- Messages
- 11
The NIB version is the only one I have any experience of. I have to say I like the Reuters News and research function on it which, as a journalist friend of mine pointed out recently is better than the info they get on their news desk![/quote]
I've been thinking of getting the so-called "Prestige" a/c with NIB. This gives access to share trading (which is what I want). However three things put me off:-
1. NIB seem to want an inordinate amount of information b4 you can even open an a/c. Actually it's rather intrusive.
2. I find the staff in the branch that I've dealt with not exactly up to speed.
3. They made a very poor impression on me the first time I ever dealt with them (Don't ask!).
If the online sharedealing service was good I might persist. But I've also heard there are SNAFUs on this as well.
Would you advise me to persist?
Thanks
I've been thinking of getting the so-called "Prestige" a/c with NIB. This gives access to share trading (which is what I want). However three things put me off:-
1. NIB seem to want an inordinate amount of information b4 you can even open an a/c. Actually it's rather intrusive.
2. I find the staff in the branch that I've dealt with not exactly up to speed.
3. They made a very poor impression on me the first time I ever dealt with them (Don't ask!).
If the online sharedealing service was good I might persist. But I've also heard there are SNAFUs on this as well.
Would you advise me to persist?
Thanks
H
Howya2000
Guest
Hi,
Living abroad and wondering what is the best way of buying irish shares can i do it online?
Living abroad and wondering what is the best way of buying irish shares can i do it online?
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susie78
Guest
Hi, just to answer what the diff is between a crest a/c and a nominee a/c..
A nominee a/c refers to your a/c as a whole in the brokers. If you have a nominee a/c you are agreeing for the broker to hold all your shares on your behalf electronically.
Then any Irish or Uk registered shares you purchase in your nominee a/c are held through Crest and any other shares you purchase (e.g. French, US registered...) are held through a Custodian, such as Bank of New York.
With Crest account the stock is held under your stockbrokers nominee name and designated with your individual a/c number.
A nominee a/c refers to your a/c as a whole in the brokers. If you have a nominee a/c you are agreeing for the broker to hold all your shares on your behalf electronically.
Then any Irish or Uk registered shares you purchase in your nominee a/c are held through Crest and any other shares you purchase (e.g. French, US registered...) are held through a Custodian, such as Bank of New York.
With Crest account the stock is held under your stockbrokers nominee name and designated with your individual a/c number.
Goodbody's online looks fairly good to me for real small timers dabbling like I'm considering. (buy and long hold strategy I'd say)
€32 per trade min, (1.25% starts to benefit above €2,560).
€26 annual fee.
Sharewatch can be €50 per trade, no annual, Or €30 per trade (0.3% starts to benefit above €10k).
So the way I see it, if a small timer using "play" money of €400 per stock or so, is to buy, say, 3 shares then the savings on the 3 trades Vs sharewatch's €50 a go gets you about 3 years of Goodbody annual fee, and if you continue to trade at least once a year this should be worth it.
This is money to "lose" - I know the jazz about wide diversification and tax savings of pension investment (which I usually do), this would be my equivalent of the gg's.
Have I missed something basic here?
€32 per trade min, (1.25% starts to benefit above €2,560).
€26 annual fee.
Sharewatch can be €50 per trade, no annual, Or €30 per trade (0.3% starts to benefit above €10k).
So the way I see it, if a small timer using "play" money of €400 per stock or so, is to buy, say, 3 shares then the savings on the 3 trades Vs sharewatch's €50 a go gets you about 3 years of Goodbody annual fee, and if you continue to trade at least once a year this should be worth it.
This is money to "lose" - I know the jazz about wide diversification and tax savings of pension investment (which I usually do), this would be my equivalent of the gg's.
Have I missed something basic here?
charttrader
Registered User
- Messages
- 117
32 to buy, 32 to sell = 64. That's 16% of 400 euro, which is a crazy outlay. Just doesn't make sense to buy such small amounts.
yeah, I see what you mean. Maybe you allow diversification over time, go €1,500 on one stock, different stock each time (say each year), spread sectors etc. etc. so after 5 or 6 years you have something approaching a spread.
the 2nd €32 would be expected to be a long way down the line but doesnt take from your point.
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