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Why is it so expensive to buy a few shares?! Any way to buy small scale and cheaply?

  • 03-08-2011 6:09pm
    #1
    alan85
    Closed Accounts Posts: 333 ✭✭


    I have been to two banks but none of them seem to allow you to buy a few shares. Is there any way of doing it small scale and cheaply?

    TD Waterhouse charge €60/year unless you frequently trade or have more than 5K in the account which on a small scale basis doesn't really work out...

    I'd love to buy a few BOI shares. They're 9 cents a share... Just a punt, nothing serious really...


Comments

  • #2
    carveone
    Registered Users, Registered Users 2 Posts: 1,306 ✭✭✭carveone


    Good question. The banks have always gouged you on transactions like this. I was about to say TD Waterhouse or TD Ameritrade but, yes, you need a minimum amount. And then you pay per transaction. Given that 1000 shares of BOI is 90 quid, a little flutter would be interesting! I wonder do Paddy Power do this stuff!


  • #3
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    The only really cheap way to get into the stock market is probably by buying a fund - you'll only pay the fund management charge. Unfortunately you won't be able to buy individual shares this way.


  • #4
    Rebel1977
    Registered Users, Registered Users 2 Posts: 802 ✭✭✭Rebel1977


    alan85 wrote: »
    I have been to two banks but none of them seem to allow you to buy a few shares. Is there any way of doing it small scale and cheaply?

    TD Waterhouse charge €60/year unless you frequently trade or have more than 5K in the account which on a small scale basis doesn't really work out...

    I'd love to buy a few BOI shares. They're 9 cents a share... Just a punt, nothing serious really...

    Cheap way is AIB online share dealing internet banking I signed up for it today like u I saw price of BOI shares, u rekon they worth a good punt ?


  • #5
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Moved to Investments & Markets.


  • #6
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    alan85 wrote: »
    I have been to two banks but none of them seem to allow you to buy a few shares. Is there any way of doing it small scale and cheaply?

    TD Waterhouse charge €60/year unless you frequently trade or have more than 5K in the account which on a small scale basis doesn't really work out...

    I'd love to buy a few BOI shares. They're 9 cents a share... Just a punt, nothing serious really...

    In the States, Ameritrade has no minimum account balance. However, in order no pay a fee, you'll need a $2000 balance to get you started.

    Forget penny stocks, especially BOI.

    Look at their EPS it's negative. How about institution owned - 0%. If the big money won't touch it, neither should you.

    Boi and AIB should be disallowed from trading. These kinds of "stock" only exist because the brokerages get that $10 per trade fee or whatever. With the millions being traded, they are the only winners. These stocks are just ghosts.

    Not trying to be a smart @$$, however, the only way I would see myself buying a few hundred shares would be if I knew they would send me the paper copies of the share. Then at least I would have some value (paper) and something with which to wallpaper .

    Just stay away.

    It cannot be long before AIB and IRE and thrown off of the NYSE and follow the likes of FNM and FRE.


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  • #7
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    alan85 wrote: »
    I have been to two banks but none of them seem to allow you to buy a few shares. Is there any way of doing it small scale and cheaply?

    TD Waterhouse charge €60/year unless you frequently trade or have more than 5K in the account which on a small scale basis doesn't really work out...

    I'd love to buy a few BOI shares. They're 9 cents a share... Just a punt, nothing serious really...

    id stay away from bank of ireland for a while , despite the very significant news of a foreign buyer less than two weeks ago , the share has gone nowhere and has actually dropped back from 11 cent to nine


  • #8
    mikerockfield
    Registered Users, Registered Users 2 Posts: 24 ✭mikerockfield


    I was originally with Sharewatch, then they moved their execution to ODL Securities who in turn have moved to FXCM who I now deal with, no yearly charge and the trading rate is only £14. I trade small amounts regularly, with no probs. BUT im not sure if you can now join for a small amount, I think I was in before they got tight on that!


  • #9
    WooPeeA
    Closed Accounts Posts: 1,136 ✭✭✭WooPeeA


    As FISMA mentioned you can easily find US or Canada or basically any country based companies with no minimum transaction value that won't charge you more than few euros flat fee per transaction.

    Most of those online ones don't even have minimum deposit to begin or keep on your account.


  • #10
    MacStacked
    Registered Users, Registered Users 2 Posts: 183 ✭✭MacStacked


    https://www.zecco.com/

    Try this..

    edited to add http://www.scottrade.com/ and http://www.tradeking.com/


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