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Trading shares online

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  • 18-12-2003 1:43am
    #1
    irishguy
    Registered Users Posts: 3,299 ✭✭✭


    i was thinking of trading shares online, i would be investing about €1000 for about 5years. Preferable in Irish/Euro zone companies.i wouldnt be trading that often but i would like to be able to do it online and moniter them online, with preferably an Irish company. Any ideas or recomendations?
    BTW i would be investing in bluechip/well established companys. i have been recomended etrade.com anyone used them before??


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    #2
    De Rebel
    Registered Users Posts: 1,109 ✭✭✭De Rebel


    i use etrade.com for us shares, but not for irish/euro (no point in trading in irish shares in dollars - introduces a pointless currency exposure)

    i use goodbody online for irisk/uk shares - its cheap(ish), reliable, provides you with information even though its an execution only service, and is easy to use

    to date, i've failed to find a cheap(ish) online service for non-irish eurozone stocks. and it annoys me because I believe that there is strong growth potential in some of the eurozone bluechips and midcaps.

    You will need to keep a keen eye on trading costs if your initial investment is €1,000 in total - the inclusive costs for a buy/sell combination will probably be in the region of €60 - and if you split your €1,000 into 3 lots of €333 each lot will have to gain 20% to break even. Just something to think about.

    enjoy !!


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    #3
    wolfman
    Closed Accounts Posts: 2,553 ✭✭✭wolfman


    Hi guys

    I'm not talkin the same kind of figures, but the other day I got some Man United shares for the young lad and it cost 70 Euro for the transaction using AIB. The amount of shares was only 100 Euro.

    I know!! Rip-off

    But, to deal in small amounts like this again, as I'm sure he will want to when he gets these shares, where is the lowest cost option?

    I came across Campbell O'Connor already and they seem the best, but just wondering if I can get any cheaper???

    By the way, he is only 10 and is MAD into United, so he'll probably want more, now that he's started. I have bought the first few and added his name to them as he needs to be 18 himself I think


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    #4
    De Rebel
    Registered Users Posts: 1,109 ✭✭✭De Rebel


    Originally posted by wolfman
    Hi guys

    I'm not talkin the same kind of figures, but the other day I got some Man United shares for the young lad and it cost 70 Euro for the transaction using AIB. The amount of shares was only 100 Euro.

    €70 to buy, and probably as much again to sell - more than the value of the shares!

    Online trading is a lot cheaper - But of course you don't get paper certs. DBB, Goodbody, etc have different pricing structures, and these work out differently depending on your trading style.

    Most of the brokers have significantly increased their charges for trading in certs over the last few years to discourage small lots. You might take a look at fexco - I think they were the cheapest for paper trades last time I looked.


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    #5
    irishguy
    Registered Users Posts: 3,299 ✭✭✭irishguy


    its quite expensive to trade in shares, you would think there would be an online company that would do this very cheap [ryanair style] i planned on buying shares in big companys [2 or 3 companys]that more than likely will make a good profit in the next 5 years and just leave the money there till then


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    #6
    ShaneHogan
    Closed Accounts Posts: 67 ✭✭ShaneHogan


    Originally posted by irishguy
    I wouldnt be trading that often but i would like to be able to do it online and moniter them online, with preferably an Irish company. Any ideas or recomendations?

    You are dead right to be avoiding frequent trading - that's the way to make your broker rich, not make you rich. As others have pointed out, the costs of online trading with the Irish brokers is quite high. ETrade & other US brokers are cheaper, but then you have to worry about currency risk.

    However, the real concern with online accounts is that the shares are not registered in your name, they are registered in the nominee account of your broker. So if you broker goes bust, you end up with a big big problem - At best, you lose access to your shares for a couple of years while the liquidator sorts things out. At worst, you lose a pile of your money. Check out press reports on MMI or Morroughs for recent examples of this.

    Note that it is very easy to monitor the value of your shares online via a range of different websites.


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