Actually more after CGT is taken into account. If the shares appreciated by 25% then your gain after tax would be €100 so you would still be out of pocket.Taking one of the cheapest Irish brokers, Davy Direct, heres the costs for a €500 Ryanair transaction bought and sold over one year...
€25 (to Buy)
€25 (to Sell)
€5 (Stamp Duty)
€80 (Annual Account Fee)
Total Costs: €135
So, just to break even you would need the shares to rise in value by over 25% in one year.
Actually more after CGT is taken into account. If the shares appreciated by 25% then your gain after tax would be €100 so you would still be out of pocket.
Buying a single share is a high risk play.
Buying and selling within a year is not really a viable strategy.
€10k is a figure that is generally quoted as the minimum for direct share purchase.
* Having spent some time researching my options, i've compiled a table of firms which accept Irish citizens and there relevent costs. If anyone would like me to post this table (about 8 firms), i'd be happy to do so.
Fantastic CGorman, many thanks for your work.
My son, who is a mature 3rd level student, doesn't have a fixed income. However, from time to time, he works part-time. He is thinking of buying shares occasionally, from time to time, when he has a bit of surplus cash, to build up a portfolio gradually. What is the minimum amount he can buy? For example, he is thinking of buying Ryanair. If he opens an account with, e.g. Goodbody, what would his expenses be?
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