Louise McBride Twitter Email. Earlier this month, two American billionaires made hundreds of millions of euro after selling off some of the Bank of Ireland shares they had snapped up cheaply in the depths of the Irish banking crisis.

The pair — Wilbur Ross and Prem Watsa — sold a chunk of their stake in BoI for about three times the price they had paid for the shares in If the notion of tripling your money on Irish shares has tempted you to buy some, tread carefully — past returns are no guarantee of future gains. Along with the risks, you should also be acutely aware of the costs that come with investing in shares.

Most people deal with stockbrokers when buying shares directly but choose your broker well — as well as the way you buy your shares from them. Otherwise, you could pay 12 times more than you need to when you're buying your shares. While online trading groups like TD Waterhouse are cheaper, most people still use stockbrokers for buying or selling shares.

:: DAVY ::

The cheapest way to buy shares from a stockbroker is usually through its execution-only service, where the stockbroker offers no advice on the shares you want to buy — and simply buys the shares on your behalf.

But even with execution-only, the commission for buying shares could come to as much as a 10th of the money you have to invest. However, the killers when it comes to buying shares are the annual charges and administration fees you'll be hit with if you open an account with a stockbroker — particularly if you're a one-off small-time investor.

The Sunday Independent surveyed the charges of five of the country's top stockbrokers — Campbell O'Connor, Cantor Fitzgerald, Davy, Goodbody Stockbrokers and Merrion Capital.

If you're simply making a one-off purchase of shares and you have no plans to buy any more, the cheapest way to buy shares is to avoid opening an account with a stockbroker — and to hold your share certificate yourself.

If you must open an account with a stockbroker to buy shares, request that a share certificate be sent out to you as soon as possible — and once you get this certificate, close the account. By doing so, you should be able to limit the administration or account fees you'll pay. So after one year, the fees will have clocked up to half of your original investment. Merrion typically caters for wealthy investors — so if you're a small investor, you should probably head elsewhere.

Plateforme de trading SaxoTraderGO

With some stockbrokers, it can work out cheaper to buy shares online than over the telephone — but you'll be hit with an annual charge if you do so. Furthermore, you can avoid paying an account fee if you buy shares over the phone from Davy and hold on to the share certificate yourself.

If you buy and sell shares regularly throughout the year, online accounts can be the cheapest way to do so as the account maintenance charge will usually pay for itself over time.

Another major cost to bear in mind when buying shares directly is tax. You will pay stamp duty on the value of the shares you buy. You must also pay tax on any money you make on your shares.

Brian Hutton Irish homes are spending less on food and more on mortgage repayments and rent, latest official figures reveal. Sponsored StoryPlus Sponsored Features Cars CarsIreland. Subscribe Digital Edition Home Delivery Newsletters.

Forex4you: Online Forex, FX, Commodity and Currency Trading 24/5

Follow Facebook Twitter Contact Email User. Stay sharp if you're buying shares — and beware monster fees MARGIN CALL: A trader working on the floor of the New York Stock Exchange. Louise McBride Twitter Email March 23 2: School community in shock at death of their 'much loved and enthusiastic' Irish News School community in shock at death of their 'much loved and enthusiastic' Popular school principal dies after collision with car while going to work Comment: How Varadkar's new Cabinet is the furthest thing from 'new politics' - and it's nothing to do with the lack of women.

Ireland | Online Brokerage Comparison: Stock Brokers, Forex Trading Platforms, Options Trading Accounts and more

Irish homes spending more on mortgages and rent - and less on food Irish homes are spending less on food and Tax take from housing 'could cause public finance issues' A recovery in the housing sector to meet new and pent-up demand risks Catholics wait six months longer for social housing in the North Catholics are continuing to Don't get caught out on currency Top tips to get the best out of your In this age of instant online banking, few Can I pass flats on tax-free to my sons?

I own a couple of apartments in Dublin city centre which I am renting out to From corporate banking to CrossFit — how this former banker found his From corporate banking to CrossFit — not the most From zero to the country's top farmer in seven years WATCH: Take a peek inside Dublin's luxurious Iconic offices From fledgling start-ups to globally recognised Thousands of delegates and speakers descend on RDS for TechConnect Thousands of delegates and speakers are Sheep shearing season arrives again Sheep shearing season arrives again VIDEO: Dragons' Den-style bootcamp - 'The Grow Dome Project' Entrepreneurs with a vision for social change Cooking up Change's Aisling Kirwan has brought her 'Cook.

Entrepreneurs with a vision for social change Social Entrepreneurs Ireland Bootcamp In pictures: All Ireland Marketing Awards See stunning pictures of silage work beside Newgrange Stunning pictures taken last week Newgrange Farm, Slane Co Meath show silage being Dublin Data Sec Press Photographer Association of Ireland PPAI awards - winning pictures Press Photographer of the Year Gerry Mooney - A Portfolio In pictures: Shakira and Forest Whitaker attend annual World Economic Forum WEF From magic mirrors to kissing robots - the best from the world's biggest tech show Gallery: Around rural Ireland this week in 11 pictures In Pictures: Ministers on Budget Day.

By using this website you consent to our use of cookies. For more information on cookies see our Cookie Policy. This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.