Another Starting Out Question

keith_d99

Hi all,

Looking to start out with an investment of say €3000 to buy shares through an online broker on the Irish Stock Exchange

I have narrowed it down to 2 sites:
1. https://www.tdameritrade.com and use something like https://www.transfermate.com to transfer money in

or

2. http://www.tddirectinvesting.ie/
which charge €20 commission plus €15 per quarter account maintenence fee.

Can anybody advise if either is a reasonable option for starting out.

Thanks,
Keith.

Cute Hoor

keith_d99 wrote: »

Hi all,

Looking to start out with an investment of say €3000 to buy shares through an online broker on the Irish Stock Exchange

I have narrowed it down to 2 sites:
1. https://www.tdameritrade.com and use something like https://www.transfermate.com to transfer money in

or

2. http://www.tddirectinvesting.ie/
which charge €20 commission plus €15 per quarter account maintenence fee.

Can anybody advise if either is a reasonable option for starting out.

Thanks,
Keith.

I would initially say that Option 1 is the no-brainer here, with your only risk (other than bad investment decisions) being the exchange rates. I have used Transfermate (for a different purpose) and I found them excellent to deal with and getting a far more competitive rate than you will get from your bank.

However you say that you want to trade on the Irish Stock Exchange, with tdameritrade (afaik) you can only trade US securities - this will include the ADR's of some of the bigger companies like CRH, so I'm not sure if they will meet your requirements. Trading on the Irish Stock Exchange incurs an additional Stamp Duty charge of 1%.

keith_d99

Cute Hoor wrote: »

I would initially say that Option 1 is the no-brainer here, with your only risk (other than bad investment decisions) being the exchange rates. I have used Transfermate (for a different purpose) and I found them excellent to deal with and getting a far more competitive rate than you will get from your bank.

However you say that you want to trade on the Irish Stock Exchange, with tdameritrade (afaik) you can only trade US securities - this will include the ADR's of some of the bigger companies like CRH, so I'm not sure if they will meet your requirements. Trading on the Irish Stock Exchange incurs an additional Stamp Duty charge of 1%.

Thanks!
For starting out - it seems from what I have seen is that it is not cheap!
Difficult to find an online broker where I can buy Irish stocks, and do not charge an account maintenence fee.

seklly

TD Direct only charge that €15 quarterly maintenance fee on inactive accounts.

Inactive is if you haven't made a trade in the previous 3 months and your balance is less than €5000 (cash + portfolio).

You'll see that some people on here have had issues with them, for balance I've been using them without issue for the last year.

Mort5000

seklly wrote: »

You'll see that some people on here have had issues with them

Understatement of the century.

keith_d99

What about using AIB??

Commision rate of 1.25% and annual maintenence of €26?