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Davy's Online Trading Account

  • 05-07-2010 2:38pm
    #1
    BESman
    Closed Accounts Posts: 563 ✭✭✭


    Apologies for posting a similar thread to this a few months back, but I would just like to receive some more opinions on this. Last time I asked what people's preferred trading accounts were, as I was considering setting up one with Davy's (well known, trusted, rates seem decent with no complex price structure, and a few nice extras, etc) but I was quickly warned to stay away as apparently trade fees for US stocks are very high.

    Is there any other reason why I should avoid Davy's? I don't trade much in US stocks so that wouldn't bother me too much, but if there are other bad experiences people have had, I wonder would they mind sharing them, or offering alternatives? Thanks.


Comments

  • #2
    displaced dub
    Registered Users, Registered Users 2 Posts: 766 ✭✭✭displaced dub


    using davys a year now and no problems at all, have bought shares in ireland, uk, us and spain.

    always answer the phone if i have any problems with the online dealing and they do it on the phone for me at the same rate as the online one.

    i know they are more expensive than others but if you have more than 15trades(i think) the rate reduces. they also have education evenings if you can attend them and the site is easy to navigate.

    if you have time look through the threads in who to use, i know most of the other guys here are using different brokers for dealing and some like PD, Pireilli etc are far more knowledgeable than me on all this.


  • #3
    BESman
    Closed Accounts Posts: 563 ✭✭✭BESman


    Yes they have a frequent trade rate, think its 20 trades a year. Are they expensive though? The frequent trader rate is €15 which I would have thought was fairly cheap. Is that the only cost you would incur for the year?

    EDIT: Its €15 per trade, crikey! May need to shop around a bit more.


  • #4
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    BESman wrote: »
    Yes they have a frequent trade rate, think its 20 trades a year. Are they expensive though? The frequent trader rate is €15 which I would have thought was fairly cheap. Is that the only cost you would incur for the year?

    http://www.davy.ie/Generic?page=commissionsandchargesroi

    Account maintenance fee: €40 twice a year

    If you are going to trade US markets be ready to pay €53/trade. (Yes, €53!!!!)

    Also keep an eye on dividend payments. They misplaced mine and I had to send several emails to get it.

    Their online platform for US markets is totally useless.

    Unless you invest at least lets say €20000 and only in ISEQ, Davy's fees will eat most or all of your profits.


  • #5
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    strmin wrote: »
    http://www.davy.ie/Generic?page=commissionsandchargesroi

    Unless you invest at least lets say €20000 and only in ISEQ, Davy's fees will eat most or all of your profits.

    I keep hearing this on this forum do people here honestly struggle to make €100 profit on trades that the fee structure eats their profits


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