Stock broker

digestive

I will be opening a joint account with my partner next week to trade in stocks. I have not decided yet which company to use. I am already with Goodbodys but don't want to choose them as the amount we are starting with is only between 4 and 6 grand. I'd be better off with a company that had cheaper min charges per transaction. I see Davy appear to be more competitive but after looking into Davy they have much higher chargers for example; trading a USA Stock market is 100 euro.

Any advice is welcomed.Thanks.

Barname

why pay rip off fee's?

unless you are actually desiring personal contact with a broker (there are some good ones)

otherwise, if you make your own picks you could use these guys:

http://www.tdwaterhouse.ie/

foxirl

I'd second TDWaterhouse.
20 euro a trade.
If you have over 5,000 invested you will not pay monthly charge either

hblock21

foxirl wrote: »

I'd second TDWaterhouse.
20 euro a trade.
If you have over 5,000 invested you will not pay monthly charge either

So if I buy €5,000 worth of shares I will not have to pay their Account Management fee (€60 for year) for inactive accounts?

I only want to buy in maybe one company starting off.

soddy1979

I use www.keytradebank.com

It is owned by Credit Agricole and fees vary between 10 euro and 30 euro dependent on market. No maintenance fees.

foxirl

hblock21 wrote: »

So if I buy €5,000 worth of shares I will not have to pay their Account Management fee (€60 for year) for inactive accounts?

I only want to buy in maybe one company starting off.

If you buy 5,000 worth and the shareprice drops then your balance will be below 5,000 and then you will end up paying the 15 euro per quarter.

Taken from webstie : "An inactive TD Waterhouse Trading Account is defined as an account that, at the close of business on the relevant Quarter Date, has had no trades executed on it since the previous Quarter Date, and has a cash and / or Portfolio balance of €5,000 or less. Portfolio valuation will be based on the closing mid price on the Quarter Date. "

hblock21

foxirl wrote: »

If you buy 5,000 worth and the shareprice drops then your balance will be below 5,000 and then you will end up paying the 15 euro per quarter.

Taken from webstie : "An inactive TD Waterhouse Trading Account is defined as an account that, at the close of business on the relevant Quarter Date, has had no trades executed on it since the previous Quarter Date, and has a cash and / or Portfolio balance of €5,000 or less. Portfolio valuation will be based on the closing mid price on the Quarter Date. "

Im going to go with Sharewatch's small trades service. I want to buy €3000 on the English Stock Market. With this service I know upfront exactly what it will cost me

€50 fee to buy shares
0.5% charge on uk shares (1.0% on irish shares)
€50 fee to sell shares

I know its costing me more than some other services but I have the peace of mind knowing my costs, which I like. Now if only I knew my profit :cool: !

Barname

hblock21 wrote: »

Im going to go with Sharewatch's small trades service. I want to buy €3000 on the English Stock Market. With this service I know upfront exactly what it will cost me

€50 fee to buy shares
0.5% charge on uk shares (1.0% on irish shares)
€50 fee to sell shares

I know its costing me more than some other services but I have the peace of mind knowing my costs, which I like. Now if only I knew my profit :cool: !

hblock purchasing on the English stock market... :rolleyes:

hblock21

Barname wrote: »

hblock purchasing on the English stock market... :rolleyes:

Its a company quoted on the London Stock Exchange. Why? Should I try and buy them somewhere else? But if their only on this how can I help it ???

foxirl

hblock21 wrote: »

Its a company quoted on the London Stock Exchange. Why? Should I try and buy them somewhere else? But if their only on this how can I help it ???

I think the post is referring to your name and it's similarity to a prison in Northern Ireland ; -)

Once you have bought your shares through Sharewatch you will receive a Share Certificate. This means that you can use a different broker to sell the shares later on if you wish.

hblock21

foxirl wrote: »

I think the post is referring to your name and it's similarity to a prison in Northern Ireland ; -)

Once you have bought your shares through Sharewatch you will receive a Share Certificate. This means that you can use a different broker to sell the shares later on if you wish.

Ahhh right!!!!

Actually name has nothing to do with the hblocks up north, was a name I came up with when I was young and thought was cool and have used ever since....maybe I was subconsciously thinking about that building though!

Daragh101

hblock21 wrote: »

Im going to go with Sharewatch's small trades service. I want to buy €3000 on the English Stock Market. With this service I know upfront exactly what it will cost me

€50 fee to buy shares
0.5% charge on uk shares (1.0% on irish shares)
€50 fee to sell shares

I know its costing me more than some other services but I have the peace of mind knowing my costs, which I like. Now if only I knew my profit :cool: !

I think they charge €30 to change the currency!

hblock21

Daragh101 wrote: »

I think they charge €30 to change the currency!

Hmmm, they never mentioned that on the phone today, I'll check again tomorrow and have words with them if your right.

God its bloody difficult to buy some shares, there's so many bloody hidden costs. :mad:

Daragh101

hblock21 wrote: »

Hmmm, they never mentioned that on the phone today, I'll check again tomorrow and have words with them if your right.

God its bloody difficult to buy some shares, there's so many bloody hidden costs. :mad:

I used this service a while ago....the total i paid was like €67.
They charged me £35 for the trade.
£20 for the changing of currency & then the rest was stamp duty.
It would be worse if sterling wasnt so cheap!

mikerockfield

Daragh101 wrote: »

I used this service a while ago....the total i paid was like €67.
They charged me £35 for the trade.
£20 for the changing of currency & then the rest was stamp duty.
It would be worse if sterling wasnt so cheap!

You guys do not obviously hold accounts with sharewatch and i presume these charges are over the phone?? I have an online account with sharewatch, which is good enough for my trading needs (UK & Irish Markets). It costs:
€19.95 per trade on ISE with €3-4 stamp duty
£14.95 per trade on LSE £1-2 Stamp duty

They do have currency change fees but they dont effect me as i send my euro or sterling from my bank account to the share account in the currency that i require.

I am currently no intrested in the US markets and i am not sure if Sharewatch provide this services and if so the cost!

Hope this helps some.

hblock21

mikerockfield wrote: »

They do have currency change fees but they dont effect me as i send my euro or sterling from my bank account to the share account in the currency that i require.

thanks for the tip!!!

mikerockfield wrote: »

You guys do not obviously hold accounts with sharewatch and i presume these charges are over the phone?? I have an online account with sharewatch, which is good enough for my trading needs (UK & Irish Markets). It costs:
€19.95 per trade on ISE with €3-4 stamp duty
£14.95 per trade on LSE £1-2 Stamp duty

Ya I know I could set up an account, but I don't want to go into trading etc, if I set up an account I'd get caught for account maintenance fees or other stuff like that, plus i think they change 0.03% commission on top to or something...

I think I'll check out davys and goodbodys too, but I'm sure they all charge the same €50 circa..

dblennon

http://www.goodbodyonline.ie/include/pdf/Online%20Account%20Application%20v2.3.pdf

Don't want to say either way as I may work for similar company;-)

although it seems quite competitive and has access to all EU, US, & CREST stocks.

FX rates at market so no worries there.

hblock21

dblennon wrote: »

http://www.goodbodyonline.ie/include/pdf/Online%20Account%20Application%20v2.3.pdf

Don't want to say either way as I may work for similar company;-)

although it seems quite competitive and has access to all EU, US, & CREST stocks.

FX rates at market so no worries there.

Goodboby Account

€32 per trade minimum commission. (when buying)
€26 per annum account maintenance charge
€13 Share withdrawal charge per stock.
€40 Account closure share withdrawal charge.
€32 per trade minimum commission. (when selling)

Total €143

Sharewatch Small Shares Service

€50 per trade commission. (when buying)
€50 per trade commission. (when selling)

Total €100

eclectichoney

Just a caveat - my understanding if you can only use the sharewatch small rade service up to €15,000 (this includes buying and selling) so if you buy €6,000 and sell them for more than 9,000 you would need to register for the full service. I think I am correct in this interpretation - apologies if not!

hblock21

eclectichoney wrote: »

Just a caveat - my understanding if you can only use the sharewatch small rade service up to €15,000 (this includes buying and selling) so if you buy €6,000 and sell them for more than 9,000 you would need to register for the full service. I think I am correct in this interpretation - apologies if not!

You wouldn't have to use sharewatch again when selling. When you use this service sharewatch sends them out in the post so you have them on paper and can do with them what you like.....i think....

Goodluck2me

digestive wrote: »

Davy they have much higher chargers for example; trading a USA Stock market is 100 euro.

Any advice is welcomed.Thanks.

Davys online account is much cheaper, its €25 min.

hblock21 wrote: »

You wouldn't have to use sharewatch again when selling. When you use this service sharewatch sends them out in the post so you have them on paper and can do with them what you like.....i think....

You will have to use someone though! hence the costs. also any irish broker will send you out the certs, Davy use an "in own name" account where you would have them sent to you as well AFAIK. Goodbody probably do too.