If a person has 10 x €35k transactions per annum. Is this .9% fee calculated on the €350,000 total amount of deals?
Is this considered low cost?
What is charged is an annualised charge of the average value in your account. Which would be €3,150 per annum on your €350k portfolio (or €262 per month).
So if I were to purchase €35k of shares I would normally be charged a commission of 1%. So that's €350. If two days later I were to sell these shares I would normally be charged 1% so another €350. So €700.
Therefore 10 trades a year, buying and selling, would with most brokers cost me 10 x €350 = €3500. With the .9% fee charged by Davy it would cost me less. €3150.
Am I calculating this right?
To be fair, for a Campbell O’Connor customer interested in a personal CREST account (the context of this thread), live prices probably aren’t that important, you’ll tend to be holding for years so a few cents means little.Claris. You might clarify if the execution only trades are live prices. No point in getting delayed prices.
It is .9% - so pretty hefty. It is subject to a €400 pa minimum. They do exclude any Davy's funds from the calculation of value so essentially a free ride with the in-house assets. It is charged twice a year based on the value at a point in time rather than average value.
Davy Select present a very competitive offering at 0.9% per annum with zero trading commissions
I signed on to DeGiro but am a little unsure about the security side of things as I'd much prefer to have the share certificates in my hand.
I checked Davy for a transaction - it's 1.65% with a €100 minimum
Thanks for answering part of the question. Good to know that I can hold shares in certificate form through Davy Stockbrokers.You can hold GSK shares in certificate form.
Yes. I think I read somewhere that if the value of the share certificate is over €25k there is no charge. This in itself is strange. Why would the value of a share certificate impact on the admin cost?By the way Laramie, you should note there is an extra charge for getting the share certificate for GSK, but given the scale of the trade. it's not that much in the whole scheme of things - about €37 I think but it may be put aside if you're buying that amount of shares.
Thanks for answering part of the question. Good to know that I can hold shares in certificate form through Davy Stockbrokers.
If you know, can you give me an answer to the second part of my question.
If I purchase £75k of GSK in certificate form to hold.What will my costs be and will there be ongoing yearly costs associated with having opened an account with you to buy these in the first place.
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