Online broker

Thimmy

Where can I find an online broker where I can trade irish shares?

Thimmy

bump

CCOVICH

Try Campbell O'Connor or Sharewatch. Goodbody/AIB also offer an online service AFAIK.

RainyDay

Charges for online trading in Ireland are punitively expensive. Why do you need an online service? How frequently will you be trading?

vector

RainyDay wrote:

Charges for online trading in Ireland are punitively expensive.

ok, but then which is the "best" international site to use?

RainyDay

There are a number of international sites such as eTrade which offer trading at much lower rates than Irish brokers, but then you have to deal with the currency exchange issues that arise. Perhaps if you explain your objectives and what you are actually trying to achieve, you might get more specific advice.

naitkris

would also recommend Firstrade to those new to share dealing (online share dealing in particular) and for those looking for a bargain. they are now open to foreign accounts and have one of the lowest order fees (only $6.95) and some of the lowest other account fees, see here.

fergusonceltic

Scottrade. When you open an account you need to have an American address I believe but possibly changed now. The give all the charts and online trades as they happen. You can view the trades, the number of shares traded and the price. Not seen another like it.

Reyman

Is there any equivalent online trade company in mainland Europe allowing easy trades in Euros

The idea of trading or leaving a cent of my money in US Dollars with the kind Mr Bush in charge gives me nightmares.

jpogorman

Sharewatch is ment to be good but I have not tried them myself.

http://www.sharewatch.com/trade1005.php

Thimmy

I'm moving from Sweden to Ireland (Shannon) 28 january 2006 to work. I understand that Ireland has low taxes compared to Sweden. Capital Gain Tax is 20%, right?
In order to get to pay tax in Ireland instead of Sweden I must have as little contact with sweden as possible, I need to show the swedish authorities I'm going to live in Ireland permanently. This is the biggest reason I want an Irish broker but maybee an international broker would be even better. I heard Isle of man and also Luxemburg has a CGT of 0%. Maybee I could place the money there?

Right now I'm using www.nordnet.se (see also www.nordnet.lu ) to trade stocks in realtime directly over the internet. I have ~9000€ with which I buy and sell about five stocks/month. I primarily use technical analysis. Since i trade quite small volumes a low order fee is important.

You have given me some good suggestions and I really appreciate it. It's alot of new information right now and I am abit confused. So any tip is highly appreciated.

Thanks!

Reyman

Ireland may look good on the 20% CGT front compared to Sweden. But there are certain disadvantages here for the small investor:

1. No index linking of capital gains
2. The annual CGT free allowance for an indvidual at E1,290 is very small and hasn't been raised for many years (UK St£10,000 I think)
3. Stamp duty is applied to every buy trade at 1% vs 0% in USA and 0.5% in UK
4. Buy/Sell spread margins can be very high for smaller cap shares in Ireland (This charge is not always obvious, and well disguised by the ISE)
5. Most of the bigger online brokers are owned by the banks (eg Davy & Goodbody) are not competing and run a cosy cartel with high and unnecessary charges.

Putting all this together it's quite difficult in Ireland to make a real return if you are moving in and out of shares frequently

Thimmy

Reyman wrote:

1. No index linking of capital gains

I'm sorry, what does this mean?

Reyman wrote:

2. The annual CGT free allowance for an indvidual at E1,290 is very small and hasn't been raised for many years (UK St£10,000 I think)

In sweden we have no free allowance.

Reyman wrote:

3. Stamp duty is applied to every buy trade at 1% vs 0% in USA and 0.5% in UK
4. Buy/Sell spread margins can be very high for smaller cap shares in Ireland (This charge is not always obvious, and well disguised by the ISE)

But this is only irish stocks? So maybee it's better for me to buy stocks in USA at 0% stamp duty, right?

Reyman wrote:

5. Most of the bigger online brokers are owned by the banks (eg Davy & Goodbody) are not competing and run a cosy cartel with high and unnecessary charges.

Scottrade and Firsttrade seems good.

Reyman

Thimmy wrote:

I'm sorry, what does this mean? .

Only gains over the rate of inflation were taxed before

Thimmy wrote:

In sweden we have no free allowance..

I must stay away from Sweden

Thimmy wrote:

But this is only irish stocks? So maybee it's better for me to buy stocks in USA at 0% stamp duty, right?.

Correct - the local country's rules apply

Thimmy wrote:

Scottrade and Firsttrade seems good.

Yes - they are very good, but American. I thought you were trying to establish firm Irish residency using a local stockbroker?

Jesper

jpogorman wrote:

Sharewatch is ment to be good but I have not tried them myself.

http://www.sharewatch.com/trade1005.php

I use sharewatch. Simple enough site but its very easy to use. No complaints so far. I'm a very small trader by standards and I'm only looking ot get into trading.
I'd recommend it allright.
The charges are straight forward and can be found on the site