Investors go on the Net for cheaper dealing

Trading shares through the Internet is becoming hugely popular throughout Europe and Irish investors will increasingly be offered greater choice.

Dealing costs tend to be substantially cheaper than those normally charged by stockbrokers starting from around $7 (£5).

Charles Schwab is preparing to make its Internet dealing service available to Irish investors before the end of the year. It will offer substantial discounts on normal dealing commissions for clients using its Internet services, with discounts of up to 20 per cent available in some cases.

Schwab Europe estimates it now carries out one in eight of its share deals over the Internet.

In the Republic, NCB Stockbrokers has also enjoyed good interest from clients seeking to buy and sell shares through this medium. Its online service has recorded an average of 2,000 hits per day since it began.

Internet share services are widespread particularly in the US, where around 25 per cent of all equity trades go through the Web.