buying shares

cycling is fun

Hi, How can I buy shares as a one off without paying monthly fees is this possible at all several places seen to have prices for buying shares but then have monthly charges

ulinbac

cycling is fun wrote: »

Hi, How can I buy shares as a one off without paying monthly fees is this possible at all several places seen to have prices for buying shares but then have monthly charges

Hey,

There is always fees/charges. They are responsible for your cash so entitled to charge. Usually quarterly fees though and its only about €20 per quarter so not bad.

Why have you decided to buy shares?

cycling is fun

Hi thanks for your quick reply, I guess i was not clear what i am looking for and maybe its not available, I know i would have to pay someone to buy shares for me, I guess my email was not clear but is there a way of making a one off payment say i want to buy 1,000 shares in a company, put into my name but do not want to buy shares after that can I just make a one off payment


I already own shares and have options on shares in the future these have been bought for me through the company i work for however i have never bought shares myself so not sure which route to go


in answer to your question why do i want to buy shares
I want to buy shares as my money is making SFA in the bank and have read books on shares and investing so have a fair idea of the risks involved

Value Hunter

cycling is fun wrote: »

Hi thanks for your quick reply, I guess i was not clear what i am looking for and maybe its not available, I know i would have to pay someone to buy shares for me, I guess my email was not clear but is there a way of making a one off payment say i want to buy 1,000 shares in a company, put into my name but do not want to buy shares after that can I just make a one off payment


I already own shares and have options on shares in the future these have been bought for me through the company i work for however i have never bought shares myself so not sure which route to go


in answer to your question why do i want to buy shares
I want to buy shares as my money is making SFA in the bank and have read books on shares and investing so have a fair idea of the risks involved

You have no idea, with respect

Attempting to buy individual shares with, lets face it, no knowledge in €1000 transactions is a quick way to lose the majority of your €1000.

You can buy from the banks (AIB and BOI) for individual transactions, but the transaction fees will be about €50 a go (at least).

So €50 to buy + €50 to sell, on top of CGT and other charges means you have to make about 18% just to break even

Spend a decent portion of your €1000 on books and magazine subscriptions (the economist, investor chronicle). You'll enjoy a much better return

RobertKK

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Eoin McGlynn

cycling is fun wrote: »

Hi, How can I buy shares as a one off without paying monthly fees is this possible at all several places seen to have prices for buying shares but then have monthly charges

It is possible. There are a number of providers, but as mentioned above the trading costs tend to be significantly higher. Depending your your trading/investing objectives, and your starting capital, a decent low cost broker can offer cost effective benefits.

I would suggest avoiding the Irish brokers as they are ludicrously expensive. I use interactive brokers. Monthly fees can be as low as $10 per month depending on the data feeds that you use. I have no affiliation with them other than as a customer.

masterjk

Im looking into doing this but not on a large scale to start just a small investment and work up to bigger, is there any way to do this cheaply? can anyone suggest a cheap on-line broker yo do this with?

cycling is fun

Value Hunter wrote: »

You have no idea, with respect

Attempting to buy individual shares with, lets face it, no knowledge in €1000 transactions is a quick way to lose the majority of your €1000.

You can buy from the banks (AIB and BOI) for individual transactions, but the transaction fees will be about €50 a go (at least).

So €50 to buy + €50 to sell, on top of CGT and other charges means you have to make about 18% just to break even

Spend a decent portion of your €1000 on books and magazine subscriptions (the economist, investor chronicle). You'll enjoy a much better return

With Respect Value Hunter you know nothing about me you know less about me than i know about shares you have taken a little piece I have written on here and you assume you know me,
I never mention 1,000 euro so I have no idea where that came from
I have watched the stock Market for years even tracking a Stock called Bula Have also read lots of books on the subject

You might want to let AIB and BOI know that you can buy shares from them as they seem unaware of this, at least in the AIB and BOI that i visited

cycling is fun

Eoin McGlynn wrote: »

It is possible. There are a number of providers, but as mentioned above the trading costs tend to be significantly higher. Depending your your trading/investing objectives, and your starting capital, a decent low cost broker can offer cost effective benefits.

I would suggest avoiding the Irish brokers as they are ludicrously expensive. I use interactive brokers. Monthly fees can be as low as $10 per month depending on the data feeds that you use. I have no affiliation with them other than as a customer.

thanks for your advice

Bizness

Firstly a short history lesson. BOI and AIB both had stockbroking divisions back in the heydays – Davy and Goodbody respectively. Hence you were able to buy and sell shares over the counter at your local bank branch as well as deal on-line with Davy and Goodbody. Then under the watchful eye of Brian Goggin and Eugene Sheehy (remember those two boyos..), aided and abetted by incompetent regulators, central bank gurus, politicians as well as greedy shareholders and greedy European and International institutions willing to lend the money to the Irish-domiciled banks without any due diligence, these two pillar banks (along with others) ramped up on the lending, giving out 100%/110% mortages, liar loans, buy-to-let mortages, colossal mortages, mortages based on non-guaranteed income like overtime etc etc and just stoking up the property market. On the other hand there were also borrowers willing to avail of this easy money who should have known better. ..

So the house of cards eventually came down, and that would have been fine except that the losses of these private institutions (along with Anglo, IL&P, Quinn etc) was socialised onto the mix of unsuspecting and ignorant taxpayer masses, by the sheer folly of our ruling elites and their advisors and the bully tactics of our so called European and US friends.

So aul Goggin and Sheehy got a gentle pat out the door with a big fat pension, thank you very much, some of it courtesy of a pension injection by the pliable taxpayer. No thought of a malpractice case against them, or being struck off the director list or even 20 years without remission of hard labour digging turf with a sléan down in a bog infested with midges, no sirree, out ya go, with a big fat pension. One of them went studying history in Trinners, the other one joined up with Apollo, a private equity company, to, wait for it, advise it on buying juicy real estate in good aul Eire at distressed prices.

As part of the rationalisation of the two pillar banks, they sold off non-core assets. Davy was bought out by its management and Goodbody was sold to Fexco. Make up your own mind about whether the taxpayer got a good deal out of these sales. So nowadays I am not too sure if you can trade shares over the counter at the bank branch anymore (though I think you may still be able to buy/sell shares in AIB branches, if you hold a bank account with them, but they won’t be cheap).


Now as to your question...

It’s been asked and answered before, and there is a sticky – ‘Key Threads, it’s probably been asked before’, where the buying shares thread is discussed – the thread itself probably could do with updating.

I assume you will not be trading too often, once, twice per year perhaps, operating the good aul buy and hold strategy. Buying Irish/UK stocks, you have 3 choices, hold the stocks in nominee (electronic) account, Crest (electronic) account or in paper certificate form.

Nominee and Crest have ongoing yearly charges by the broker/crest account intermediary.
Paper certs do not have ongoing yearly charges, and you hold the cert, kind of like a deeds to a house, and you can even take them down to the pub for a drink. If you forget them on the barstool, then you need to pay a replacement fee, about €100. I would avoid nominee holdings if you can because the shares are held in a broker account and not in your name, and if that broker was run by an incompetent like the boyos above, or if there was a rogue trader in there, then your holding could get tied up a while or even partially used up if the broker had a shortfall of capital. (There is an investor compensation fund – 90%, up to a maximum of €20000, if this does happen).

If you want to trade European, US, rest of world stocks, there are no paper certificates, so it will probably be a nominee type holding. An on-line type broker would probably be the cheapest for this but I suspect most have ongoing account charges.
Most brokers do the nominee and Crest accounts.

IG Index have started providing an on-line facility for buying/selling stocks at good value – though it is a nominee account type.

For your paper cert option and only a handful of trades per year or even less, then Campbell O’Connor in Dublin is your best option in my opinion – no annual charge for a non-advisory account, and they are ok cost for US/European trades as well, but have an annual charge per line of stock for European/US holdings.

Also look at Redmayne Bentley, UK broker with an office in Cork.

Other option is the registrars of the company you want to invest in, their details will be on the Investors relations web-page of the company – registrars include Capita, Equiniti, Computershare. They will do the paper cert option for you but charges are a bit high. Seems to be a bit of mixed feedback about their level of service sometimes.

Best of luck.

cycling is fun

Thanks for that detailed reply I will look into what you have said

Midnight Sky

Hi Guys.

Wondering if any of you have experience with withdrawing funds from interactive broker (IB) back to your Irish bank account.
I'm having issues. I'm with BOI and I called them with this problem but they couldn't help.

When I try and withdraw funds IB asks for bank account details. I'm using the same account which Interactive brokers keeps asking me for "Correspondent Bank routing details were not found. Click here for manual correspondent entry".

Groan...!

BOI tell me that all I need is my normal IBAN and the BIC.

mimnagh

Just came across this yesterday - Loyal3 dubbed the "Uber of investing"

loyal3 [dot] com

Would be interested to hear your thoughts....

Interesting thread BTW.....thanks.......