If you are thinking of buying some shares then you should spend some time researching the various stockbrokers you can open an account with. Remember you don’t have to open an account with an Irish stockbroker, you can use any stockbroker in any country.
Be careful when opening an account with a stockbroker. As well finding out the commission they charge, do find out if there are any annual maintenance charges for keeping the account open. Most stockbrokers don’t charge an annual fee for maintaining the account but some do.
The Financial Regulator has published an excellent survey on Irish stockbroker charges. Download the survey below.
Remember you can use the services of your bank to buy and sell shares. They do charge a higher commission but if you only plan to buy and sell shares a few times during the year, your bank may be the best option.
You can also find the latest stockbroker charges on askaboutmoney.com
The last few weeks have seen a very volatile stock market.
Wonder what it’s like to be a trader on the market?
how can you trade shares through your bank?
what are the charges/fees/and commission?
Most banks offer a share dealing service either in the branch or through their online banking service.
For example, AIB (http://tinyurl.com/4lldn3) and NIB allow you to trade shares online.
If you don’t want to trade online, just call into the branch and they will do it for you.
thanks
Thinking of buying some AIB myself at the moment.
How do you download the financial regulator survey?
Also it says you have to be 18 to buy shares with AIB, can a parent/gaurdian purchase them in your name? Where would you find the charges, if any, for using the bank to buy/sell shares.
You can download the Regulator’s survey from http://tinyurl.com/5vrwvn
To open a stockbroking account, you have to be 18 or over. What you can do is get someone over 18 to open the account in their name e.g., a parent/guardian. You will still legally own the shares in the account and shares cannot be bought or sold without your permission.
To find out the commission the banks charge, you would either need to have online banking setup for your bank account or call into the branch.
i looked up buying shares through the aib online share dealing service,
and i think the total charge is €100 per transaction which is expencive.
there seems to be better deals out there, sharewatch offer a small traders account where you dont have to go through all the forms and boring details, it totals off at €50 per transaction which can be paid by cheque.
http://www.sharewatch.com
whats a cfd? i no it stands for contract for a difference.
but what are the benifits?
1.5% on first €8,888 Minimum charge €25.40
Cost of €2000 deal: €30
Davys Online
Minimum commission €25
€0 – €25,000 0.75%
€25,001 and above 0.50%
Account Maintenance €40 twice per year.
Shares must be held in a nominee account – you can’t have share certificates.
goodbodyonline 1.25% up to €25,000.Minimum €32.
Cost of €2,000 deal: €32
Shares must be held in a Goodbody nominee account – you can’t have share certificates.
There is an annual maintenance charge of IR£20.
Dolmen Butler Briscoe
€0-€20k 1.65% on first €15,000. Minimum fee: €50
Cost of IR£2,000 deal: IR£40
BCP 1.5% on first €20,000.Minimum charge: €45 + €15 Admin fee.
Cost of IR£2,000 deal: IR£47
Bloxhams 1.65% on first €13,000. Minimum:€60
Cost of IR£2,000 deal:
got this info from boards.ie
Great information there. I wasn’t aware of the Sharewatch small traders account.
CFD’s are risky and wouldn’t be suitable for a novice investor in shares. CFD’s are where you bet on the movement of the share price. You don’t own the shares. They are only suitable for experienced investors and traders.