Buying Shares

GG88

I have some extra cash and i was thinking about buying shares but i am not sure how to do it. I thought i could purchase online through ebay but i dont think i can. Can anyone tell me how to do it and also if you can use paypal

topper_harley2

No. You need a stock broker e.g. Davy, Goodbody etc. I'd suggest lots of online reading before doing anything, especially if you thought you could buy shares on EBay...

GG88

topper_harley2 wrote: »

No. You need a stock broker e.g. Davy, Goodbody etc. I'd suggest lots of online reading before doing anything, especially if you thought you could buy shares on EBay...

Thanks man no i have no clue how to do it. And i have planned to read up first. Anyways thanks for the help

sleonard121

We'll it's a bit tedious to get set up:
1. Get a brokerage account (like a bank account, except it holds share, not cash)
2. Research the different stocks
3. Choose a few
4. Monitor them

To step one, I'd recommend a discount/low-cost online broker. There is really very little point in paying extra to a stock broker for his "advise". No one has a crystal ball on what's going to happen in the future. Your guess, is probably as good as the "professionals".

Davy, Merrion, Bloxam, etc. are local guys. Though all rather expensive. There is a Dutch outfit called DeGiro that I've tested and are cheap and functional. No doubt there are others.

I did a video on "opening a brokerage account" for US clients. Here's a link learn.stockflare.com/investing/2014/10/29/B3-setting-up-a-brokerage-account.html

Ping me if you'd like any help.

mystery_man

I am in the same boat.. I have a little extra cash and I was thinking of buying some shares or maybe some Gold.. I was looking at Davy Select online but as you said it looks to be quite expensive with quaterly fee's etc for the relatively small investment Id be making. I have heard about gold savings accounts accounts also.. A jeweller I met a while back was telling me about one here in Dublin that was very good but do you think I can remember the name of them...

topper_harley2

What is a "gold savings account"?!

mystery_man

Some of the Bullion houses operate accounts.. Where you can buy lump sums or operate a saving type account where you can buy €100 a week for example. You can cash in at any time or collect your gold. There is one company in Dublin who are one of the biggest German Gold who operate this service...

SO basically you are buying gold at whatever the current rate is and you build up your weight over time..

mystery_man

Some of the Bullion houses operate accounts.. Where you can buy lump sums or operate a saving type account where you can buy €100 a week for example. You can cash in at any time or collect your gold(when you reach certain weights I think 100g mimimum). There is one company in Dublin who are one of the biggest German Gold who operate this service...

SO basically you are buying gold at whatever the current rate is and you build up your weight over time..

mystery_man

Some of the Bullion houses operate accounts.. Where you can buy lump sums or operate a saving type account where you can buy €100 a week for example. You can cash in at any time or collect your gold(when you reach certain weights I think 100g mimimum). There is at least one company in Dublin who are one of the biggest German gold houses who operate this service...

SO basically you are buying gold at whatever the current rate is and you build up your weight over time..

ulinbac

GG88 wrote: »

I have some extra cash and i was thinking about buying shares but i am not sure how to do it. I thought i could purchase online through ebay but i dont think i can. Can anyone tell me how to do it and also if you can use paypal

Hi GG88,

Not to be cruel but do not go near shares. If you think you could buy them on ebay it's not for you at present. Buy some books as previously mentioned on here and study if you are interested in it. Look at websites like trade2win and advfn. Read the FT Weekender.

You will more than likely lose most if not all of your money if you start now. Put it in a standard savings account or prize bonds for at least a year so you can learn some basic knowledge. You can also find a decent fund with a good track record (look for one at least 10-15 years old) and put it there. Rule number one of trading is: Only play with money you can afford to lose. If it will hurt you to lose it then don't trade.

Hope that helps.

UL

ulinbac

mystery_man wrote: »

Some of the Bullion houses operate accounts.. Where you can buy lump sums or operate a saving type account where you can buy €100 a week for example. You can cash in at any time or collect your gold(when you reach certain weights I think 100g mimimum). There is at least one company in Dublin who are one of the biggest German gold houses who operate this service...

SO basically you are buying gold at whatever the current rate is and you build up your weight over time..

Hi mm,

Have you considered the transaction costs here. May not be worth your while if you are only putting in 100 a week. Why not do 1000 every 10 elweeks and pay one transaction cost instead of 10?

UL

Agreed. Don't buy shares until you know a lot more. Interest yourself in business and economics. Read the financial news and follow web sites such as seekingalpha.com . Think of medium to long term investing, not trading which is a surefire way to lose your money. And avoid gold, if you buy anything point yourself in the direction of dividend paying blue chip shares - At least if the prices drop you will have a regular income that beats savings accounts.

Zascar

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