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Is it possible to join a stockbroker if you don't live in the country they're based?

  • 14-08-2009 10:17pm
    #1
    shamblertine
    Closed Accounts Posts: 888 ✭✭✭


    I want to buy shares but don't want to buy shares through an Irish stockbroker as they are all rip off merchants and the amount of money I'm investing each month (€500) would be eaten up by their fees and charges. UK brokers offer good deals (a lot charge just £10 per trade with no other hidden fees or charges) but from what I see you need to have a UK address. Does anyone know if there are any exceptions where they allow people in other countries to trade with them?


Comments

  • #2
    HoolaHoops
    Closed Accounts Posts: 7 ✭HoolaHoops


    Hi, I hope you get an answer here.........I too am interested in investing to about the same level. But as far as I see. trades are expensive for the €500pm level. With annual charges on top.

    The Stock broker I refer to doesn't offer an online account :( I'm interested in buying ETFs on the NYSE. What would be the best and cheapest way of achieving this? Something online where you can enter stop losses etc.


  • #3
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    I use http://www.interactivebrokers.com/ Very cheap. You can signup using irish address.


  • #4
    MrMatisse
    Closed Accounts Posts: 1,743 ✭✭✭MrMatisse


    depends on the broker.

    TD waterhouse will take irish clients as will Internaxx (expensive)

    I think stocktrade.co.uk do too.


  • #5
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    I use TD waterhouse as I wanted access to the Canadian exchanges, had no problems

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • #6
    shamblertine
    Closed Accounts Posts: 888 ✭✭✭shamblertine


    Thanks for the suggestions so far guys. Can you tell me do the sites listed above require you to send copies or scans of your drivers license or passport? I'd like to be able to just complete registration online and begin trading straight away without having to send such documents so does anyone know if this is possible?


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  • #7
    shamblertine
    Closed Accounts Posts: 888 ✭✭✭shamblertine


    and also, whats the deal with brokers requiring the name of your employer and the nature of the business, what possible reason do they have for needing this info? I certainly don't want these brokers contacting my employer for whatever reason.


  • #8
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    shamblertine wrote: »
    Thanks for the suggestions so far guys. Can you tell me do the sites listed above require you to send copies or scans of your drivers license or passport? I'd like to be able to just complete registration online and begin trading straight away without having to send such documents so does anyone know if this is possible?

    Not possible. You will have to send copy of your passport, proof of address and, most likely, copy of your payslip.


  • #9
    shamblertine
    Closed Accounts Posts: 888 ✭✭✭shamblertine


    strmin wrote: »
    Not possible. You will have to send copy of your passport, proof of address and, most likely, copy of your payslip.

    why do you have to do all that crap if you're funding the account with your debit card?


  • #10
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    If you have something to hide, investing through a stockbroker is not for you.
    And I haven't seen stockbroker accepting credit/debit cards.


  • #11
    shamblertine
    Closed Accounts Posts: 888 ✭✭✭shamblertine


    I've nothing to hide but I just don't see how all that info is necessary, and I have seen that plenty of stockbrokers accept debit cards for funding accounts.


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  • #12
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,628 ✭✭✭Blackjack


    shamblertine wrote: »
    I've nothing to hide but I just don't see how all that info is necessary, and I have seen that plenty of stockbrokers accept debit cards for funding accounts.

    The info is neceassary to ensure you're notinvesting money from the sale of drugs or other illegal gains.

    Accepting Credit or Debit cards is how they get paid, not how they define who you are.

    If you find someone offering to take your money without looking for all relevant Anti Money Laundering requirements, then don't expect to get your money back.


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