Execution-Only brokers with ISEQ access

monsterdev

I am looking for a broker that only charges per trade. I have been looking at some of the quarterly fees and the amount of the total fees per year expected would actually equal a successful investment !

Are there any brokers that can access the ISEQ outside of Ireland ?

Execution-only sometimes doesn't mean so, Sharewatch for example have a 25 non-execution fee per month if less than 3 trades are executed !

Experienced Traders, what are the most viable options ?

paisley2

monsterdev wrote: »

I am looking for a broker that only charges per trade....that can access the ISEQ outside of Ireland ?

If you find one, you might let me know please
Because I have failed.

monsterdev

Bump

Bizness

Hi, are you looking for a broker based in Ireland or outside Ireland?
I deal with Campbell O'Connor, based in Dublin. For ISEQ, UK stocks, I just get the stock in paper certificate form. If you don't want the hassle of paper certs, then can set up a crest account, costs €50 per annum.
If only doing a few trades per year, then paper certs might be more cost-effective.
Their minimum charge for execution only trades used to be €25, I now see that it has gone up to €40.
Charges here: http://www.camocon.ie/charges.html
No charges however as far as I am aware if no trading for a prolonged period.

paisley2

Bottom line: There is a minimum amount on-line brokers charge clients, anything below that is not worth their effort and (substantial) IT investment and running costs. So you will end up paying roughly the same per year regardless of how they package their offering. After all brokers survive on commissions and they only want your business if they can make profit from you. It's very competitive out there, so the current charges for trading the ISEQ are probably as low as you will get. For an account less than €100k I suggest you try TD Direct Investing or Saxo Bank, these guys are the cheapest and best service for the price.
On another note, why the ISEQ?
Low volume, high trading costs, 1% stamp duty, a minuscule fraction of the global markets, parish pump (read insider) trading...not exactly the most attractive capital market on the planet to be honest. Would you not look at Frankfurt, high volume, low trading costs, no stamp duty, household name companies, no currency exposure, a much more attractive market. Most foreign traders (non-EU) like to trade Frankfurt for exposure to the Euro markets.

Bizness

paisley2 wrote: »

Bottom line: There is a minimum amount on-line brokers charge clients, anything below that is not worth their effort and (substantial) IT investment and running costs. So you will end up paying roughly the same per year regardless of how they package their offering. After all brokers survive on commissions and they only want your business if they can make profit from you. It's very competitive out there, so the current charges for trading the ISEQ are probably as low as you will get. For an account less than €100k I suggest you try TD Direct Investing or Saxo Bank, these guys are the cheapest and best service for the price.
On another note, why the ISEQ?
Low volume, high trading costs, 1% stamp duty, a minuscule fraction of the global markets, parish pump (read insider) trading...not exactly the most attractive capital market on the planet to be honest. Would you not look at Frankfurt, high volume, low trading costs, no stamp duty, household name companies, no currency exposure, a much more attractive market. Most foreign traders (non-EU) like to trade Frankfurt for exposure to the Euro markets.

I guess it depends what stocks you are after then. If you want to buy Irish stocks, then you have to buy on the ISEQ, unless they are listed abroad also, e.g. some of the larger cap stocks like CRH, DCC, Grafton have moved their primary listing to the FTSE, with the benefit of the lower stamp duty of 0.5% as well if purchasing via the UK. The stamp duty of 1% for Irish stocks is regressive, but unavoidable unfortunately.
As with any market, there can be value to be found in the Irish market at times, e.g. including small caps who are not being followed by the big investment firms. You just need to do a bit of research and ensure the management is sound (make sure no CEO/chairman with a title such as Sir or Lord is in charge! )