Irish Alternatives To De Giro Online Brokers

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lukeskywalker

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I have a small holding in a UK Investment Trust (about €20K), held in paper certificate form, with dividends managed by Equiniti. I am interested in converting these to electronic form and buying additional shares. I am not a trader, I'm a buy and hold longer term investor who carefully considers any purchases. I'm familiar with the risk involved in shares. Just wondering are there "bricks and mortar" Irish based options in terms of converting shares from paper to electronic form, and buying additional shares, with a low annual account maintenance charge ? I'm aware about De Giro being by far the cheapest along with E Toro in terms of transaction charges, but I see negative reports about De Giro customer service or lack of , they are only around a few years, they are online only and I see they can "rent" your shares to short sellers.
 
They can only lend your shares if you allow them - it's an option not an obligation
 
If you want Bricks and Mortar, I think your looking at Davy or Cantor Fitzgerald.
Degiro have been around since 2008 but are one of the biggest brokerage firms in Europe.
Can't comment on their customer service but their size, scale and reach makes them less risky than 2 small regional brokers imo.
 
Thank you that is very hlepful. Just wondering how you would go about converting paper share certs into electronic formatts. Would you have to go through Davy or Cantor to do this?
 
jpd said:
They can only lend your shares if you allow them - it's an option not an obligation
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They used to offer a ‘custody’ account which they would not lend from, but have stopped offering these. So my understanding is if you open an account today your shares are in the pool and they can loan them out as they see fit. Am I wrong?
 
Hello ,
I have a kind of related question, I have about 49k sterling in II in the UK, and it's costing me 13.99 pounds per month for just holding them. Because I'm an Irish resident. I have a number of different shares, some positive and some are negative.
I also have an account in degiro.ie
I have been told by degiro that I can't transfer my shares from ii.to degiro

So what are my options

Leave my shares in ii
Sell my shares , the negituve ones first,then the positive ones after that.
Transfer the money to my Irish bank account.

Then buy the exact same shares in degiro

I have never done this before so
What are the tax implications?
All advice welcome

Thanks
 
Selling the shares will give rise to losses and gains and the net gain less the annual allowance of € 1,270 will be liable to CGT at 33%

There is no need to sell the losing shares first - all gains and losses in a calendar year are added together
 
jpd said:
There is no need to sell the losing shares first
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Not only that, but when referring to shares in a single company, you can't pick and choose which ones are sold first as FIFO rules apply to disposals and will determine which are sold.
 
Am I best to spread the selling over a number of years so for capital gain reasons.

Or should I try to transfer my existing shares to an Irish dealer that will except them instead of degiro?
 
You do realise that most Irish brokers will have custody charges too
 
Open an account with Interactive Brokers. They do not have any custody or regular fees. Then try transferring your shares into this new account.
 
Goodbody charge an annual fee of 123 euro (or at least that was the 2022 rate). Then it's 25e minimum per trade or 1% up to 25k and 0.5% above that.

I'm not up to date with Davy and Cantor fees, but no bricks and mortar Irish operation that can match the likes of DeGiro for fees - their customer support will be better but you need to pay for it.
 
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