Best onLine trading a/c for a flutter?

[centsworth]

Is Davy the best online trading option to open an account with E2000. I don't intend to trade any more than this amount ... would that mean an overseas trading account would not be worth while in terms of savings on costs?

 

[shanegl]

Re: Best OnLine Trading Ac for A Flutter?

Transaction costs will quickly eat into such a small sum.

 

[Jethro Tull]

Re: Best OnLine Trading Ac for A Flutter?

would spread betting not be the way to go with 2k?

Paddy Power Trader allow you to open a demo account with a 'virtual' 10k to get used to spread betting before you play for real cash

 

[silvamuppet]

Re: Best OnLine Trading Ac for A Flutter?

Is Davy the best online trading option to open an account with E2000. I don't intend to trade any more than this amount ... would that mean an overseas trading account would not be worth while in terms of savings on costs?

There are a ton of threads on this forum with regard to costs of brokerages (irish and foreign) so you would do well to look into them first.

shanegl is right on the transaction issue. The irish brokers are uber expensive.
The cost of the initial buy would be a significant % of your investment!
If this is just a once off flutter and you don't intend investing any more maybe you should just put it in a fund a la Quinn life or something like that?

 

[tim2070]

Re: Best OnLine Trading Ac for A Flutter?

The best account really depends on how often and on what markets you want to trade.

If this is a once off trade and you want to buy irish shares, then NIB are the best providing you have a current account with them. No annual fee and 0.75% to trade with a min of €20 charge.

If you want to trade regularily or US stocks them open an online account with a US broker. firstrade or e*trade are cheap. You will get scalped transferring the money to dollars but once it's in dollars trades are cheap. You will then take a hit for a bank transfer charge on withdrawing your funds and get hit for currency charges again.

 

[MoneyMind]

Re: Best OnLine Trading Ac for A Flutter?

Wrt Etrade recommendation above, I have an Etrade account just over 10yrs now and in terms of customer service, fee's and choice of instruments ie: Stocks, ETF's etc I can recommend them. As noted above Dollar
FX and transfer fees is a concern doh. With 2K to play with ETF's would be a good play. depends on your risk/reward profile of course.

Feel free to ask me more Q's if you like.