What is the Best Stock Broker in Ireland?
For me eToro is the best stock broker in Ireland.
eToro offers Low fees and has a good trading platform for mobile and desktop trading. The service is easy to learn and use. It also has great learning tools, such as a demo account and learning materials.
My trading story.
My trading journey started in Match 2020 during a downturn in work which gave me the opportunity to learn how to trade stocks. I opened an eToro stock broker account and I was lucky I did, the website and app were so easy to use and learn, it really helped with my progress, and still to this day I am using eToro for long-term investment in stocks and to day trade.
Note: I also completed a stock trading course and found a mentor which is important, please note it takes some work to learn the skills needed, but eToro does have a free trading school, also YouTube and investopedia are great resources for learning.
eToro is a well-known Israeli stock broker that started out in 2007 as a stock broker and fintech company.
eToro serves customers in Ireland through a unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC), and it serves customers in Australia through a unit that is regulated by the Australian Securities and Investment Commission (ASIC). U.K Clients are regulated by the Financial Conduct Authority (FCA).
eToro offers Irish clients commission-free trading on stocks and your funds will be held in separate bank accounts for security and safety.
eToro gives its clients free insurance from Lloyd's of London, which is one of the world's best providers of specialized insurance. This insurance covers up to 1 million Euros.
Overview and Benefits
The Israeli stock broker eToro is good for both new traders and those who have been trading for a while in Ireland.
eToro runs a multi-asset brokerage. It offers stocks, CFDs, ETFs, futures, and commodities.
It has a wide range of tools for technical analysis, news feeds and articles, educational materials, and an online community of traders.
With a minimum deposit of $50 ($500 if using a bank transfer) and an online process that takes no more than a day, you can open an account quickly.
Live chat and email are both ways to reach customer service. Most of the time, the response is quick and accurate, but it isn't available on the weekends.
More than 13 million people use eToro in 140 countries around the world.
The best stock broker in Ireland is also known for its social investing platform that lets you copy the trades of other investors.
You can buy small amounts of stocks, starting at $10. This is great for smaller investors who can't pay a few thousand dollars for a single Apple share.
All deposits in Euro are automatically changed to US dollars, and fees are charged for the change. The fee for bank transfers to deposit Euros is 0.5 percent. If you use a debit card or PayPal to deposit Euros, the conversion fee is 1.5%.
If you don't withdraw US dollars, you will also have to pay a 0.5 percent currency conversion fee if you withdraw into a Euro bank account, debit/credit card, or PayPal.
A flat $5 withdrawal fee is also charged for every withdrawal.
Top Tip to avoid the conversation fees
You can avoid the Etoro conversion fee if you use a debit card with no fees, like N26 or Revolut, to deposit US dollars.
You can use your Revolut account to deposit and withdraw USD on Etoro. You might have to fill out a transfer form and show bank statements that show how you put money into your Revolut account.
Even with foreign exchange fees. Etoro is still a lot cheaper than the "old school" Irish stock brokers that have been around for a long time. Also, there is no stamp duty to pay when buying UK shares and for this reason, I believe eToro is the best stock broker in Ireland.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.