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Fees for trades with execution only services

  • 13-06-2008 07:18AM
    #1
    PoleStar
    Closed Accounts Posts: 774 ✭✭✭


    Hi just a small question.

    I am planning on putting some of my monthly savings into shares rather than all into low yield savings accounnts which barely keep up with inflation.

    Anyway, checking out online services such as AIB I see a 1% transaction fee which sounds ok however the minimum fee is 35 euro. As I am gonna contribute monthly with not large sums this will work out too expensive.

    What online dealers do people use here, are there services which charge a fee/commission without MINIMUM fee?

    Thanks!!!


Comments

  • #2
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    Perhaps just wait a while until you have a nice sum saved up and then invest that.

    If you just invest using a trickle of cash the transaction costs and taxes will wipe away any gain.


  • #3
    PoleStar
    Closed Accounts Posts: 774 ✭✭✭PoleStar


    Aw :(

    Are there no dealers that have no minimum transaction fee?


  • #4
    Shadowless
    Registered Users, Registered Users 2 Posts: 396 ✭✭Shadowless


    Have a look at some of the Rabo Direct funds.*
    As far as I know there's no minimum fee and it might be what you're looking for.


    *not affiliated to Rabo in any way


  • #5
    PoleStar
    Closed Accounts Posts: 774 ✭✭✭PoleStar


    It is lookin like something like Rabo is the way to go for me.

    Basically I am planning saving a few hundred every month. Dont want to put it all in savings accounts which pay interest at around or less than inflation i.e. losing me money so was planning to invest maybe half it.

    Rabo has the funds option although I was hoping to have more control over my funds.

    Anyone else have any other suggestions?

    I guess the option of spread trading is there although with much higher risk I know.


  • #6
    PoleStar
    Closed Accounts Posts: 774 ✭✭✭PoleStar


    Ok, so I was reading the sticky and I saw that zecco.com which is only for trading on US markets, charges tiny commission fees of $4.50 per transaction.

    Now I want to trade on Irish market, are there any execution onyl services that would match that kinda commision?


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  • #7
    Jonny303
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭Jonny303


    i was just advised on sharewatch.ie

    does anyone use it? and is it as simple as there making it out to be at just a €50 fee for under 15k?


  • #8
    mijas
    Registered Users, Registered Users 2 Posts: 55 ✭✭mijas


    Its pretty straightforward. You open an account with them, (you need the usual documents, passport, utility bill, bank statement), transfer your money into sharewatch account, then you can do a one off telephone transaction for €50. If you intend trading more often, its better to open an online account, €19.95 per trade but it costs €60 per year to maintain your account.


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