Stock Investement beginner questions

paulthelegend

Ok ive read most of the threads on this forum and a few websites that you people have put up, so thanks for that, but im wondering can someone actually give me cold hard figures.

I am thinking of investing 1,000+ in a company on the NASDAQ market (now dont get me wrong just cause i know what NASDAQ is that doesnt mean i know anything about it haha) And was looking at fexco to do so but now internaxx.com is looking better but slower. But i was actually looking for someone to list, say i was going to buy 1,000 euro in a company on the market how much will i pay and how much to sell

so
setup fee = €50
annual fee = €20 (only have to pay after first year not on setup)
buy of 1,000 euro of shares = 1% = €10
then just for example say the shares go up 50% and i deside to sell
sell of 1,500 euro of shares = 2% charge = €30

like can someone basically do a cost run down like that but with actual figures and include EVERY hidden cost etc there is like stamp duty if there is any etc and the name of the company there with that has them costings.

Thanks very much
Paul

Blackjack

If you have a UK bank account you can open an account with comdirect (www.comdirect.co.uk). All your trades will be done against Sterling, which means if you are working from Euro and buying US stock, you will have 2 FX to deal with (EUR-GBP, then GBP-USD) but it's a flat fee per trade of £12.50, and there's no annual fee or set up fees.
You'll need to supply a W8-BEN form (tax form that declares who and what you are to the IRS) to invest in the US, but it's quite straightforward and I think they provide one on the website. It stays good for 3 years after the year in which it is signed. You'll not pay any Stamp duty in the US either.

Don't know if the above is any good to you, but they're the only Internet Brokers I have done business with, and I can't say I've had any problems with them.

paulthelegend

That information was very helpful so thank you very much, what would be the easiest way to get an English bank account? and do they have like a government duty like ireland of 40euro a year per account on bank accounts?

Also is there anyone else with information with a different online broker and the prices

thanks to everyone

RainyDay

I found Campbell O'Connor to be the cheapest Irish broker for once-off purchases of Irish shares. Contact them to check out their prices for NASDAQ shares. Note that with a relatively small investment, a fair percentage will be eaten up in fees.

Blackjack

You might try a Bank in Northern Ireland, or one of the Irish banks that have Branches in the UK. Unless you have a job in the UK it does make it a bit of a pain, so make friends with your Bank Manager!.

pan

I'm trading (not actively) with Ameritrade.com (previously known as datek)
I think there is a min balance of 1k, each trade is about $10.
But new members I think get 30 free trades at the moment. No annual free.

Only thing to watch out for is € - $ exchange rate.

rainglow

I use Sharewatch for USD shares - your Crest account is free, no stamp duty as they're not Irish shares, no fx costs and the commision is unbelievably reasonable. Either 0.3% of the value of the trade or €30, whichever is greater. They're kind of the Ryanair of stockbrokers but since they're IFSRA and FSRA regulated (which are more stringent than the SEC anyway) there's nothing to worry about. It's phone-broking for the U.S. but it's a low-call number and is very simple.

If you just want to buy/ sell shares and not open an account with them I think they cater for this as well but at a slightly higher commission.

I looked into all the Irish stockbrokers and it was rip-off city. The only benefit you get from opening an account is their opinion and the company's research which is limited to Irish shares and a couple of big UK ones like Vodafone. If you already know what you're doing or have access to equity research, an Irish guy will be of no use to you. Half the time they won't have heard of the U.S. company you're trading in or will try to pick your brains and pass it on to their other clients as their own strategy!

daveirl

This post has been deleted.

GreeBo

rainglow wrote:

no stamp duty as they're not Irish shares

But you will be liable for Capital Gains Tax...

Blackjack

Stamp Duty on UK shares is 0.5%