Want to buy shares for someone

orchidsrpretty

Hi all, I would like to buy a gift of about 500e in shares(possibly bank shares or similar) for someone. Is this possible? Can someone advise how I would go about that? Thanks.

gordongekko

orchidsrpretty wrote: »

Hi all, I would like to buy a gift of about 500e in shares(possibly bank shares or similar) for someone. Is this possible? Can someone advise how I would go about that? Thanks.

If its not a surprise purchase it should be possible. They will need to sign forms and depending on the relationship there may be a tax liability. Contact davys or goodbodys for info.

Sonnenblumen

orchidsrpretty wrote: »

Hi all, I would like to buy a gift of about 500e in shares(possibly bank shares or similar) for someone. Is this possible? Can someone advise how I would go about that? Thanks.

There's some straight forward money laundering details to sort out, so you'll need to sign a few forms and provide the following documentation:

Proof of Identity: Passport/Drivers Licence

Proof Of Address: Bank Statement and Utility Bill (both < 3 months old).

I'd recommend you call Campbell O'Connor Stockbrokers in Cope St (behind Central Bank). Brokers for the man in the street.

Friendly, efficient and professional.

orchidsrpretty

Sonnenblumen wrote: »

There's some straight forward money laundering details to sort out, so you'll need to sign a few forms and provide the following documentation:

Proof of Identity: Passport/Drivers Licence

Proof Of Address: Bank Statement and Utility Bill (both < 3 months old).

I'd recommend you call Campbell O'Connor Stockbrokers in Cope St (behind Central Bank). Brokers for the man in the street.

Friendly, efficient and professional.

Thank you, will give them a call later and see how it goes.

Scortho

Sonnenblumen wrote: »

There's some straight forward money laundering details to sort out, so you'll need to sign a few forms and provide the following documentation:

Proof of Identity: Passport/Drivers Licence

Proof Of Address: Bank Statement and Utility Bill (both < 3 months old).

I'd recommend you call Campbell O'Connor Stockbrokers in Cope St (behind Central Bank). Brokers for the man in the street.

Friendly, efficient and professional.

And a hell of a lot cheaper than aib for one of trades. They make you feel really important as well!:)

Cute Hoor

Sonnenblumen wrote: »

I'd recommend you call Campbell O'Connor Stockbrokers in Cope St (behind Central Bank). Brokers for the man in the street.

Friendly, efficient and professional.

I have no experience of these brokers but from looking at their website they seem expensive. 1.5% commission with a minimum of €40 per trade, fairly serious charges. Buying €1,000 worth of shares would cost you €40 with CO'C (and another €40 to sell), the same trade with IB would cost €1 (with IB there is a monthly inactivity fee of $10). CO'C also have account maintenance fees from what I can see. The value of your shares has to rise by a minimum of 3% (4% for Irish shares) before you can think of turning a profit.

IMO people shouldn't limit themselves to Irish brokers, find a reputable one that offers a reliable service with the cheapest fees possible (irrespective of where they are based - within reason) would be my advice.

Scortho

Cute Hoor wrote: »

I have no experience of these brokers but from looking at their website they seem expensive. 1.5% commission with a minimum of €40 per trade, fairly serious charges. Buying €1,000 worth of shares would cost you €40 with CO'C (and another €40 to sell), the same trade with IB would cost €1 (with IB there is a monthly inactivity fee of $10). CO'C also have account maintenance fees from what I can see. The value of your shares has to rise by a minimum of 3% (4% for Irish shares) before you can think of turning a profit.

IMO people shouldn't limit themselves to Irish brokers, find a reputable one that offers a reliable service with the cheapest fees possible (irrespective of where they are based - within reason) would be my advice.

25 quid one off trade was what I was always charged. You hold the certs yourself so no account fee.
The op is looking to buy shares as a gift it seems to be held in the long term.
Multi inactivation fee will cost him a serious amount of potential profits.

Cute Hoor

Scortho wrote: »

25 quid one off trade was what I was always charged.

Was that over the counter or online?

http://www.camocon.ie/charges.html

Scortho

Cute Hoor wrote: »

Was that over the counter or online?

http://www.camocon.ie/charges.html

In the boardroom!:)

Sonnenblumen

Cute Hoor wrote: »

I have no experience of these brokers but from looking at their website they seem expensive. 1.5% commission with a minimum of €40 per trade, fairly serious charges. Buying €1,000 worth of shares would cost you €40 with CO'C (and another €40 to sell), the same trade with IB would cost €1 (with IB there is a monthly inactivity fee of $10). CO'C also have account maintenance fees from what I can see. The value of your shares has to rise by a minimum of 3% (4% for Irish shares) before you can think of turning a profit.

IMO people shouldn't limit themselves to Irish brokers, find a reputable one that offers a reliable service with the cheapest fees possible (irrespective of where they are based - within reason) would be my advice.

CO'C fees are charged on a sliding scale, 1.5% commission is correct for trades € 0 - € 8,888, 1.0% for trades (€ 8.88k - € 19,047) and 0.5% for trades > € 19,047 with minimum commission charges of € 25.4 (but these are also common). Wouldn't suit low value traders but you can also aggregate your trades simultaneously to avoid minimum charges.
I do not pay any account fees with CO'C nor do they charge for share certs (other brokers will charge £ 20 -£ 30 for certs) .

Much depends on your own circumstances (value and frequency of trades, share certs v nominee account etc).

Cute Hoor

Sonnenblumen wrote: »

CO'C fees are charged on a sliding scale, 1.5% commission is correct for trades € 0 - € 8,888, 1.0% for trades (€ 8.88k - € 19,047) and 0.5% for trades > € 19,047 with minimum commission charges of € 25.4 (but these are also common). Wouldn't suit low value traders but you can also aggregate your trades simultaneously to avoid minimum charges.
I do not pay any account fees with CO'C nor do they charge for share certs (other brokers will charge £ 20 -£ 30 for certs) .

Much depends on your own circumstances (value and frequency of trades, share certs v nominee account etc).

I’m assuming, based on your post, that the charges on their website are $ based, it’s surprising that they don’t explain that better, I would have expected that an Irish broker would be advertising their fees in Euro, unless otherwise stated.

Even at the 0.5% on the element of trades over €19,047, that is still 5 times more expensive (significantly more if you take into account the element under €19,047) than say IB, and of course there is no comparison with US brokers where you can make any size of trade for under $10.

Do you just trade Irish stocks, CO’C appear to have an additional €50 charge for trading European stocks. As you say, depends on your circumstances and requirements of course.

I find it difficult enough to make a few bob from this business, hence my reluctance to pay a red cent more than is necessary to intermediaries.

Sonnenblumen

Cute Hoor wrote: »

I’m assuming, based on your post, that the charges on their website are $ based, it’s surprising that they don’t explain that better, I would have expected that an Irish broker would be advertising their fees in Euro, unless otherwise stated.

Even at the 0.5% on the element of trades over €19,047, that is still 5 times more expensive (significantly more if you take into account the element under €19,047) than say IB, and of course there is no comparison with US brokers where you can make any size of trade for under $10.

Do you just trade Irish stocks, CO’C appear to have an additional €50 charge for trading European stocks. As you say, depends on your circumstances and requirements of course.

I find it difficult enough to make a few bob from this business, hence my reluctance to pay a red cent more than is necessary to intermediaries.

I buy mainly Irish + UK stocks through CO'C. I enjoy a great service, preferring to deal with a local co who are very accessible and I'm happy to pay their fees.