Cheapest Stockbroker

Tiesto

Hi all.
so my dad is wanting to throw a few grand into C&C
Just wondering who is the cheapest stockbroker to use?
I checked out Davy and Goodbodys..

I was told you can also buy shares through the bank too.
He only wants to buy C&C.. He doesnt want to build a portfolio or anything so is kinda a waste having an account with a broker and having to pay the yearly fee etc if they can be just purchased in the bank.

Opinions please

Thanks

radioactiveman

The cheapest one is probably national irish bank. You pay a 40 euros a year account maintenance fee but apart from that the charges are quite low (for buying or selling shares).
The only problem is you have to hold the shares in their 'nominee' account. This means if you hold the shares for several years, you have to pay 40 euros every year - whereas if you go through a different stockbroker like Goodbody or Dolmen etc you could actually buy share certificates, and then forget about stockbrokers altogether until you need to sell (they're yours so no annual fee). I think the cheapest way to do that is to go through Sharewatch.ie (although there could be cheaper dealers - I haven't checked in a while).
Sharewatch either hold the shares for you in a crest account free of charge or you can buy the share certificates.
In general in Ireland stockbrokers are a rip off compared to US/UK/european dealers.

Tiesto

ok well ive heard bad things about sharewatch.. that they are not the easiest to deal with? Do you know do the brokers such as davy or goodbodys charge much for the actual certificates?
And in the case of you selling, any idea are the fees similiar to if you were to have an account with them and pay the annual fees...

Thanks

Edit : just did a bit of research there and from what i see, davy and goodbodys do not offer the service of selling share certificates.

Sonnenblumen

There's a low cost dealing (buying/selling) service available from Computerserve in Sandyford. Commmission c 0.5% but is limited to specific shares incl Vodafone, Bank of Ireland, AIB, Greencore, to name a few.

radioactiveman

Hi
This pdf shows the costs of the main Irish stockbrokers - NCB (Ulster bank) have a 20 euro certification charge so this probably means they can provide share certificates. It might be easier dealing with them than with a foreign broker for the simple reason that you can go directly to a branch here if you need to:
http://www.rte.ie/radio1/thebusiness/stockbrokingcharges.pdf


There's a discussion on askaboutmoney.com as well about this:
http://www.askaboutmoney.com/showthread.php?t=6808

Tiesto

thanks alot radioactiveman