Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

need a stockbroker

Options
  • 10-10-2017 7:11pm
    #1
    Haithabu
    Registered Users Posts: 180 ✭✭


    Hello,

    A year ago I availed of an employee offer to buy company shares at a reduced rate. These will now mature and I am given the choice to either sell or transfer to a stockbroker account.

    Can anyone advice on how I open that (and where maybe) ? I plan to keep the shares because on savings accounts I don't get any interest these days. So I want to keep the shares and maybe sell again in a few years or keep for retirement. I don't plan to trade a lot, just add more company shares next year.

    Thanks for any advice


Comments

  • Options
    #2
    Haithabu
    Registered Users Posts: 180 ✭✭Haithabu


    and another question (sorry I am new to this) :

    If I find a stockbroker, is it like a bank ? (i.e. if the stockbroker goes bust my shares are all gone even if the company of which I have shares is still doing well) ?


  • Options
    #3
    topper_harley2
    Registered Users Posts: 537 ✭✭✭topper_harley2


    Hi, please search this forum for info about getting started, and simply google for information for questions like "what is a stock broker". There are millions of pages explaining this already (https://en.wikipedia.org/wiki/Stockbroker).

    You should talk to your company HR department first. Perhaps they have a list of "supported" brokers or ones they deal with e.g. where were the shared you previously purchased held? Failing that, Degiro is the cheapest online broker.

    re: going bust, again search this forum, lots of threads discussing this fact.

    See
    http://www.boards.ie/vbulletin/showthread.php?t=2054963350
    http://www.boards.ie/vbulletin/showthread.php?p=88948873
    http://www.boards.ie/vbulletin/showthread.php?p=54571112
    http://www.boards.ie/vbulletin/showthread.php?t=2057703259

    I dont know what discount you are getting on them, but keeping and purchasing shared in the company you work with can be a bad idea if the company were to go down. Its possible you could get made redundant, and the company shares could drop - double whammy. Unless you are getting them for a large discount, personally I wouldnt tie my savings to my company like that, just my opinion.


  • Options
    #4
    BailMeOut
    Registered Users Posts: 2,970 ✭✭✭BailMeOut


    OP I assume you work for a publicly traded company and is your company listed on the Irish Stock Exchange?

    You can probably just set up a simple brokerage account and transfer the shares in there and avoid using a traditional stockbroker. Give Davy a call at (01 614 8900) and I bet they can have you up and running in no time.


Advertisement