IFSRA, the financial regulator, yesterday published its first survey of stockbrokers' fees in an effort to help consumers invest directly in the stock market. The survey indicated a significant difference in charges for investing larger sums of money.
The cost of investing €10,000 in shares of a company listed in Dublin or London range from €75 to €175, showing a potential saving of €100, the survey reveals.
Charges for investing €35,000 in a US-listed stock, however, can range from €187 to €545, so customers could potentially save over €350 when buying US stocks by switching brokers.
"Whether you have experience buying and selling shares or you are thinking about investing in the stock market for the first time, you will want to get the best value from your stockbroker," said Sharon Donnery, the regulator's head of consumer information. The survey is available on www.itsyourmoney.ie.
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