5 Best Stock Brokers in Ireland
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Best Stock Brokers in Ireland
Now that you know about the different levels of broker service available to you and the considerations to make before choosing a stock broker, here are some of the best stock brokers to use in Ireland.
This list is not exhaustive, and you should always make sure that a stockbroker is regulated and suitable for your needs before you make any investment.
Best for: Traders who are interested in social copy trading
Minimum deposit: $200
Withdrawal fees: $5
Trading assets: Shares, crypto-assets, commodities, forex, ETFs, indices
Regulated by: FCA, CySEC, ASIC
Mobile app: Yes
The Israeli online broker Etoro is suitable for both new and more experienced traders.
It offers a good range of technical analysis tools, news feeds and articles and educational resources, and an online community of fellow traders.
Account opening is a fast online process, which generally takes no more than one day, with a minimum deposit of $200.
Customer service is available by live chat and email. The response rate is generally fast and well-informed; however it is not available on a weekend.
Best for: Traders who want to use an execution-only service
Minimum deposit: No minimum deposit
Withdrawal fees: No withdrawal fees
Trading assets: Shares, investment funds (not listed), ETFs, futures, bonds, forex
Regulated by: BaFin, ECB, DNB, AFM
Mobile app: Yes
In 2021, DeGiro B.V. merged with flatexDEGIRO Bank AG, resulting in the largest European online execution-only broker with its own banking license. DEGIRO operates in 18 European countries, including Ireland, and has generally low trading and non-trading fees.
DEGIRO does not provide a demo account, but it does have an excellent educational resource offering.
Account opening is fast and completely online, with no minimum deposit. However, deposits and withdrawals can only be made by bank transfer.
Customer service is provided by phone and email in a variety of languages, but there is no live chat or 24/7 coverage.
Best for: Beginner traders
Minimum deposit: No minimum deposit
Withdrawal fees: None
Trading assets: US shares, crypto-assets, commodities, forex
Regulated by: FCA, SEC, FINRA
Mobile app: Yes
Revolut started out as a banking and payment service, before opening its investment arm under the name Revolut Trading in 2019. Revolut offers commission-free trading via its mobile-only trading platform. Accounts are available in Ireland but operate on a US dollar basis.
It does not provide a demo account or educational resources, and there is no desktop access to its platform. The account opening process is fully online and generally takes no more than one day.
Customer service is by live chat or phone but does not offer 24/7 coverage.
Best for: Advanced traders with experience in research and data tools
Minimum deposit: $0–$110,000, depending on the type of account you open
Withdrawal fees: None
Trading assets: Shares, forex, ETFs, futures, commodities, bonds, mutual funds
Regulated by: IIROC, FSA, MAS, SFC, FCA, CFTC
Mobile app: Yes
This US-based online broker has no presence in Ireland and as such does not offer trading via the Irish Stock Exchange (ISEQ). However, it does offer a wide range of trading assets from many other countries.
Interactive Brokers provides a broad range of educational tools and resources, and free access to an extensive range of research materials.
The account opening process is fully online and generally takes no more than two days to process. Customer service is available by phone, email, online chat, or iBot, Monday to Friday.
5. Davy Select
Best for: Traders wishing to invest in Irish ISEQ shares
Minimum deposit: €500
Withdrawal fees: Zero for next-day withdrawals in Ireland; €25-50 per transaction for same-day withdrawals in Ireland or international withdrawals
Trading assets: Shares, ETFs, mutual funds
Regulated by: CBI, FCA, CSSF
Mobile app: Yes
Ireland’s biggest stock broker, Davy Select is based both in Ireland and London. Davy Select is an execution-only broker and part of the wider Davy Group.
Davy Select provides excellent research and educational resources, but fees tend to be higher than its direct competitors. You will be charged if you leave your trading account inactive for any amount of time.
Unlike DEGIRO and Etoro, the account opening process is not fully online and generally takes longer, around three days.
Customer service is available by phone and email. However, there is no live chat and coverage is not 24/7.
If you decide to take the plunge into the trading markets, by investing in assets such as shares, commodities or cryptocurrencies, your first step will be to find a suitable stock broker whose service is available in your country of residence.
A stock broker buys and sells investment assets on your behalf in return for a commission fee, acting as intermediary between you and the trading markets.
The type of stock broker you opt for will depend on what level of assistance you require, whether that is a fully managed service, an advice only service or one that places you in complete control.
There are three types of stock broker:
- Full-service broker – Offers a complete portfolio management service, including investment research and advice, making transactions for you, portfolio analysis and building, tax advice, and general wealth management.
Pros: Saves you time by handling your portfolio and transactions for you.
Cons: The most expensive type of stock broker and you have less control than with other service types.
- Discount Brokers – Offering a less extensive service, a discount broker does not offer financial advice but will carry out trading transactions under your instructions.
Pros: Less expensive than a full-service broker and provides more control.
Cons: Advice is not provided so you are fully responsible for research.
- Online Stock Brokers – Providing direct access to an online trading platform, online stock brokers are generally more suited to experienced traders. This type of stock broker offers educational and research resources.
Pros: Less expensive than a full-service broker and puts you in complete control.
Cons: This type of broker does not offer a personalised advisory service.
Not sure you are ready to make that leap yet? Read Signs You Are Ready To Live Trade.
What to Consider When Choosing a Stockbroker
As with any financial venture, trading carries a level of risk and one element of that risk is the stock broker you use. Before you decide which broker to invest through, you should consider all of the following factors:
What Level of Service Do You Want?
Before you look around at available stock brokers, decide what level of service you want from them:
- Do you want a fully-managed service that will handle the process for you with wide-ranging research and advice?
- Are you confident enough to make your own trading decisions and therefore only need your broker to carry out your transactions?
- Do you want to carry out transactions online but would also like access to research tools and education resources?
- Would you like a one-to-one, personalised service?
Is the Stock Broker Suitably Regulated?
It is always recommended that you check what level of regulation a stock broker carries, whether it is regulated in multiple countries, and who the regulatory bodies are.
Any stock broker operating in Ireland must have permission to trade there from the Central Bank of Ireland (CBI) but multiple regulation is a good sign of a stock broker’s trustworthiness.
A stock broker’s website should clearly state whom they are regulated by.
What Trading and Non Trading Fees are Charged?
Stock brokers make their money from a range of trading and non-trading fees charged to their clients. You should always check what fees you will be liable for before you decide to invest with a stock broker.
For instance, some stock brokers charge a percentage fee, while other charge a flat-fee. Consider the following:
- Is there a maximum commission charge or no upper limit at all?
- Will you be charged an inactivity fee if your account is left dormant for a number of months?
- Are there deposit and/or withdrawal fees?
If the information is not readily available, ask the stock broker for clarification.
Are there Minimum Investment Thresholds?
Does the stock broker require a minimum deposit to trade through them? For instance, some require you to make a minimum deposit of €100 or $100 before you can begin to trade with that broker.
Even where there is not an overall minimum investment threshold, the stock broker may require a minimum investment amount to trade in particular assets, such as commodities or shares.
Investor Reviews and Word of Mouth Recommendations
Consider which stock brokers are recommended by investors and review sites. Which have a good or bad reputation with traders?
Research a wide range of stock broker reviews to get a well-rounded picture of a stock broker’s performance.
Do bear in mind that different traders require different levels of service from a stock broker and may be interested in other trading assets than your personal preference. Locate reviews from traders who share your needs, level of expertise and trading choices.
What Assets Can You Trade?
If you are interested in trading a particular asset, for instance cryptocurrency or forex forex, it will be to your advantage to use a stock broker who not only trades in that asset but has a good reputation among the trading community for that type of investment.
There is no sense in using a stock broker who does not offer the trading asset you are interested in.
What Trading Platforms Does the Stock Broker Offer?
A trading platform is a piece of software which allows trading transactions, monitoring and reporting. Trading platforms can be accessed online or downloaded.
The more control you want over your trading, especially if you wish to carry out transactions yourself, the more important it is that your stock broker offers a trading platform that suits your needs.
Find out which trading platform the stockbroker provides and ask:
- What type of access do you have to that platform?
- What type of analysis tools does the platform provide?
- How customisable is it?
- Does it suit your level of trading knowledge?
- Is access to the platform free or do you have to pay a fee?
MetaTrader is one of the most commonly used trading platforms. To find out more, read our MetaTrader Review.
Does the Stock Broker offer Social Copy Trading?
Copy trading is the practice of duplicating the transactions of other (generally more experienced) traders. Social copy trading combines this with learning about trading through research and educational resources to increase your level of expertise.
If you are interested in social copy trading, look for a stock broker who provides copy trading, research/educational resources and a community of traders whom you can interact with.
For more information on this path into trading, read What is Social Copy Trading?
How Can You Interact with the Broker?
Whatever level of service you need, the quality of customer service should be suitable for your needs, for instance:
- 24/7 coverage, 24 hours on weekdays, or 9-5 Monday to Friday?
- Customer service in the language you speak
- Contact by telephone, email, or live chat
- Is there an app available and does it provide sufficient customer care?
This list of the six best stock brokers in Ireland is not exhaustive and the broker best suited to you will depend on your individual needs and preferences. Conisder the following questions:
- How much control do you want over your trading? Would you rather instruct a broker to operate on your behalf or to carry out transactions yourself?
- What assets do you want to trade in?
- Do you need financial advice, research tools, and educational resources from your stock broker?
- How much money do you have to invest?
Before deciding on a stock broker and handing over your money, always do your research to ensure your money is in safe hands.
WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.