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A good online platform for trading in stocks?

  • 28-03-2020 6:10pm
    #1
    Registered Users Posts: 167 ✭✭ BillyBiggs


    Hey I’d like some recommendations as to what platform to use. I’ve tried Plus500, but not mad about it. With Plus500 if my shares drop in value, I have to pump more money in to cover my “margin?” I’d like something that’s less stressful to use, that doesn’t require a margin to be covered. Thanks for your help.


Comments

  • Moderators, Business & Finance Moderators Posts: 7,818 Mod ✭✭✭✭ Jim2007


    BillyBiggs wrote: »
    Hey I’d like some recommendations as to what platform to use. I’ve tried Plus500, but not mad about it. With Plus500 if my shares drop in value, I have to pump more money in to cover my “margin?” I’d like something that’s less stressful to use, that doesn’t require a margin to be covered. Thanks for your help.

    And you believe in Santa Clause as well...

    You don't own any shares, you are gambling on CFDs... Not requiring margins to be covered would be exactly like given a gambler a loan to bet on the horses.


  • Registered Users Posts: 167 ✭✭ BillyBiggs


    Jim2007 wrote: »
    And you believe in Santa Clause as well...

    You don't own any shares, you are gambling on CFDs... Not requiring margins to be covered would be exactly like given a gambler a loan to bet on the horses.

    Okay Jim thanks. Looking into Degiro for next week, on a waiting list.


  • Registered Users Posts: 120 ✭✭ Uboat


    BillyBiggs wrote: »
    Okay Jim thanks. Looking into Degiro for next week, on a waiting list.

    Have you opened an account with Degiro?
    Is it good? Worth trying?


  • Registered Users Posts: 167 ✭✭ BillyBiggs


    Uboat wrote: »
    Have you opened an account with Degiro?
    Is it good? Worth trying?

    Unfortunately I haven’t yet bud. I’m on a waiting list. I’m using 500plus, but it’s a risky platform. With 500plus you should only bet on the market with a quarter of your balance, because you can move into minus territory quite fast.


  • Registered Users Posts: 167 ✭✭ BillyBiggs


    BillyBiggs wrote: »
    Unfortunately I haven’t yet bud. I’m on a waiting list. I’m using 500plus, but it’s a risky platform. With 500plus you should only bet on the market with a quarter of your balance, because you can move into minus territory quite fast.

    For example if you have €4000 on your 500plus account, only bet with €1000,maybe €1500 or you could lose your shirt.


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  • Registered Users Posts: 480 ✭✭ FernandoTorres


    Just so you're aware as it's not clear from your posts, with Plus500 you're not trading shares, you're trading Contracts for Difference i.e. gambling. Degiro is a stockbroker which will allow you to buy and sell shares. Pretty sure you can just open an account without going on a waiting list?


  • Registered Users Posts: 167 ✭✭ BillyBiggs


    Just so you're aware as it's not clear from your posts, with Plus500 you're not trading shares, you're trading Contracts for Difference i.e. gambling. Degiro is a stockbroker which will allow you to buy and sell shares. Pretty sure you can just open an account without going on a waiting list?

    Okay I wasn’t 100% sure, but do see the betting element now that you say it. Who is 500plus designed for, is it for a professional stockbroker? Are the gains bigger if you get it right with a share with 500plus, or would it be just as good with DEGIRO? Thanks.


  • Registered Users Posts: 3,501 ✭✭✭ dotsman


    BillyBiggs wrote: »
    Who is 500plus designed for
    Gamblers.

    No different to betfair/paddy power etc.


  • Registered Users Posts: 1,048 ✭✭✭ nigeldaniel


    If you refer to spread trading then just have your wits about you as only a small number make it work. Most platforms have ways of making you pay all the while making it sound as though they are helping you. If you are starting out stick to small bets €1 per point or even 50c a point. Good luck.

    Dan.



  • Registered Users Posts: 63 ✭✭ bearaman


    What are the recommended brokerage platforms for people in Ireland wanting to buy/sell simple shares - none of this spread betting.


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  • Registered Users Posts: 447 ✭✭ iAcesHigh


    bearaman wrote: »
    What are the recommended brokerage platforms for people in Ireland wanting to buy/sell simple shares - none of this spread betting.

    Degiro is probably one of the safer choices with low fees and simple interface


  • Registered Users Posts: 2,036 ✭✭✭ WallyGUFC


    DeGiro seems to have stopped taking on new registrations for the time being. Is there anything similar out there?


  • Registered Users Posts: 1,073 ✭✭✭ Roger Mellie Man on the Telly


    Revolut has US market.


  • Registered Users Posts: 5,412 ✭✭✭ Charlie-Bravo


    What fees are involved with Revolut do you know? And do you get hammered on tax?

    -. . ...- . .-. / --. --- -. -. .- / --. .. ...- . / -.-- --- ..- / ..- .--.



  • Registered Users Posts: 1,073 ✭✭✭ Roger Mellie Man on the Telly


    3 trades free p/m with the basic (free) account.

    Tax compliance is your own personal responsibility.


  • Registered Users Posts: 3,501 ✭✭✭ dotsman


    Unless you are talking about joke money, I wouldn't bother with Revolut. I had a few hundred lying around in my Revolut account, so bought a few shares with it just to see what it was like. Definitely would not put proper money in.

    As a trading platform, it is extremely basic. As in, extremely!

    Only a tiny fraction of the shares/instruments that degiro would offer.

    Once you go over the first 3 free trades, it is more expensive than degiro.

    I can't remember, but assume I gave Revolut my PPS when I joined. If so, they should do DWT, but not sure. Maybe someone can clarify.

    While (as with all brokers) you deal with your own tax, on other platforms, such as degiro, there are reporting tools etc so you can export relevant data to Excel etc to help you calculate your tax liability at year end.


  • Registered Users Posts: 109 ✭✭ Thelonious


    INTERACTIVE BROKERS



    Not sure if they are accepting new clients, think they are, I registered recently. Good interface, good access to markets, low fees. Proper stocks and options, no margin required necessarily.


  • Registered Users Posts: 63 ✭✭ bearaman


    Just registered with Degiro, they have a waiting list in place...only 7700 people ahead of me :-(


  • Registered Users Posts: 2,329 ✭✭✭ dartboardio


    Metatrader4 as your platform and Axi trader as your broker. Immediate sign up.


  • Registered Users Posts: 369 ✭✭ codrulz


    CMC Markets


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  • Registered Users Posts: 710 ✭✭✭ P_Cash


    Thelonious wrote: »
    INTERACTIVE BROKERS



    Not sure if they are accepting new clients, think they are, I registered recently. Good interface, good access to markets, low fees. Proper stocks and options, no margin required necessarily.


    I just find it impossible to work out the fees/commissions/charges structure.

    obviously they provide a wide service, but i wish there was a few drop downs to select the type of investor you are and what you will be doing, and help eliminate the other jargon.

    one reason i liked TD Amir and II was the simple fee structure and 2/3 points on a page explained it.


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