Unlike other financial investment tools, you can’t simply invest in the stock market without sound knowledge. When it comes to stocks, you’ll have to consider everything, ranging from the best brokers to the most reliable stock exchange. Investing in the right stocks can make a vast difference to your portfolio. Over the years, many individuals and businesses have turned to stockbrokers in Ireland to help them achieve their financial goals. So whether you’re looking to invest money or learn more about investing, a stockbroker in Ireland can help you find the best investments for your goals.
Since there are many stockbrokers in Ireland offering various services, it becomes essential to choose the right one for you. So continue reading to explore the detailed guide to buying top stocks and the brokers in Ireland.
How To Get Started With Stocks?
Being beginner investors, we understand how hard it can become to buy stocks in Ireland! While it’s never easy, you can start your investment journey with some money to fund your brokerage account. Buying a piece of stock from a publicly-traded company gives you a claim in the business.
Interestingly, this way, you can be an investor in several companies. Therefore, to help you better, here’s a guide to buying stocks and becoming a shareholder!
- Choose your online broker
The first step towards getting started with your investment journey is to set up an account with a broker and buy stocks. But, interestingly, that’s not all! When registering under a share trading platform or a broker, you can buy, sell, or trade stocks in an account and collect the dividends paid by your portfolio.
To register yourself with a crypto exchange or an online broker, you’ll have to do a mandatory KYC to connect your bank account. This way, you can easily fund your account and initiate withdrawals.
However, if you’re confused between an online stock exchange and a broker, we suggest moving to settle with an exchange. Besides providing you with all the required information on the active markets, these exchanges are also known to come with trading tools and give you access to trading apps to carry on with trading at any time of the day.
- Research and analyze stocks to buy
As with any other financial market, the stock market is a risky affair! You can’t simply invest your money in any stock and expect it to skyrocket in the future. Every investment move that you make needs to be correctly analyzed and researched. If interested in stock from a single company, it’ll be a smart move to first research and understand its movements over the past.
Besides, you might also want to understand the company, the industry, and its balance sheet. Finally, you should also consider reading through its filings with the SEC (Securities and Exchange Commission) to get a detailed insight.
Once the research is done, you can develop your investment strategy using the charting tools available over the platform. If you don’t find it appealing, you might also want to scout for your next possible candidate.
Lastly, to be sure of your investment, also look at how the trade will perform at a given time frame. To get a clear answer, ask yourself, ‘If the market crashes tomorrow and I’m unable to sell the stock at a profit, would I be keeping it for the next few years?’ This can help you clear your perspective on the type of stock and the right time frame.
- Figure out how much you can invest
The next step to help you in your journey is to determine the value of your portfolio. Since you always have the option to increase your folio’s value over time, there’s no harm in starting with a minimum amount.
Today, many advanced trading platforms also partially allow users to invest in extensive stocks. Therefore, it’s a smart move to start small and later add to your portfolio as you continue to gain profits. Remember, try starting with stock exchanges that won’t charge you any commission as you trade.
But let’s not forget that real wealth is built over time by adding more investments to your portfolio regularly. Therefore, it is wise to determine how much you can invest and expand over time. This can help you take advantage of dollar-cost averaging, a risk-reduction strategy that spreads your purchases over time.
Moreover, when investing beyond a thousand dollars, it’s wise to diversify it over more than one stock type and category.
- Place your trade
Now that you’re done planning and curating a list of the top stocks to trade, it’s time to either invest your money or trade. If you decide to trade, use the ticker symbol to analyze the right time to enter a trade. However, before you enter one, you must know the two types of orders you can apply for:
- Market order: A market order lets you place an order at whatever the current market price is and enables you to place the order. When trading with the market order, you won’t have control over the traded price.
2. Limit order: Contrary to the market order, a limit order allows users to enter a trade in their price range. Here, you can set a specific price for your trade and only enter once your listed share enters the price. This way, you can easily maximize the profits off your investment.
Remember, both the trades have their perks and cons! For example, market orders are a viable option when dealing with a few shares or when the chosen stock is liquid and large. On the contrary, limit orders are an intelligent option to invest in smaller stocks that are limited in their quantity or hard to get.
No matter the chosen order, once you’ve executed a trade, you’re the stock owner and the price it brings along.
Now that you have an idea of the steps involved in the process let’s look at the different exchanges that all you to buy stocks in Ireland!
Top Stock Exchange Platforms To Get Started In Ireland
The XM broker is designed for the mass market and individuals on a budget or for businesses with smaller trading accounts that do not have the resources for professionally managed trading accounts. To be sure, XM is not for a certain type of investor only. But the service appeals to everyone: the investor who wants to buy and sell stocks, and the investor who wants simply to track the market and take a break from trading.
The broker provides access to its matching algorithm. Next, customers log in with their XM account, and the broker provides the customer with a stock of their choice and an instant trade recommendation. The customer then submits the transaction to the broker and executes the order.
Its trading fee of just 0.20% is among the lowest. This has helped XM rank among the top stock brokers in Ireland. Most of X-Trade’s clients are small-to-mid-sized businesses, and the broker’s fee is not a major concern.
The broker offers a variety of funding options, including a chequebook, a Visa debit card, and a Bitcoin account. This range of choices ensures XM can meet the needs of a variety of investors.
XM is focused on providing an excellent experience for its customers, which has allowed it to build a strong customer base and gain recognition throughout the country.
- Easy and fast account opening.
- Instant Deposit and Withdrawal.
- Wide Range of Leverage.
- Great educational tools.
- Demo account provided.
- Limited product portfolio.
- No investor protection for non-EU clients.
HotForex is one of the largest and most reputable brokers in the industry. It is a splendid choice for beginners and advanced traders, as it provides a wide range of trading tools and features to suit different needs and levels of experience.
If you are new to trading or have never dealt with a broker before, HotForex is an excellent place to start. However, it is also an excellent choice for experienced traders. The wide range of tools and features, combined with the quality of the platform and service, make it an excellent environment to develop and improve your trading skills.
HotForex is a reliable stock broker that offers a variety of trading platforms and investment avenues to suit the interest of every customer. These include CFD, forex, crypto, stock, and indices trading platforms.
The charting system is a prominent feature, and there are multiple ways to access charts on any platform. The platform also has a free mobile app that makes it convenient to trade on the go from anywhere.
Customers can trade with minimum commissions on all the popular financial products and services on the platform. The broker charges fees in both fiat money (Euros) and forex money (USD), which can be converted to either fiat or forex.
It also offers funding options, including debit card deposits and wire transfers. This makes it easy for customers to fund their accounts without worrying about the associated fees.
- Solid broker with an excellent reputation.
- Leverage up to 1:1000.
- Fantastic customer support.
- Fast trade execution.
- Negative balance protection for EU.
- No bonuses for EU located traders.
- Mostly focused only on forex.
IQ Option is a company that specializes in binary options trading. In addition, IQ Option uses leverage, which allows them to offer high leverage trading with little risk. Leverage is a strategy that enables an investor to magnify the impact of their investment and therefore increase the potential reward.
IQ Option is a broker that allows you to trade with precision and control using state-of-the-art trading algorithms. In particular, it provides unparalleled liquidity and enables you to trade with a range of distinct assets.
IQ Option is proud to offer one of the lowest trading fees in the industry. Our trading fee structure allows us to pass on nearly all trading costs to our clients, resulting in significant cost savings. The trading fee IQ Option range can be as low as 0.1% per trade or as high as 0.25% per trade. In addition, their leverage ratio is exceptionally high, currently at 1,000:1.
IQ Option is a trading platform where you can buy and sell stocks using your credit card or debit card. In addition, IQ Option provides an international trading platform that allows traders to avoid the high fees charged by stock exchanges.
- Advanced trading tools.
- Multiple trading instruments.
- Customizable UI.
- 24/7 customer service.
- A mobile application is available.
- Slow web app.
- Inactivity fee.
IC Markets is for active traders, those who seek to enjoy the rewards of the market without needing to be experts. IC Markets is the only “social” stock market where users are also the brokers. The features of IC Markets make it one of the best stock brokers in Ireland. Users can browse, buy, sell, and view market data in a social setting. They can also trade live, connect with other users, and enjoy the rewards of the market. This offers active traders the opportunity to enjoy the market without needing to be experts.
With trading fees starting at 0.8% per trade, IC Markets is one of the best brokerages in the world.
IC Markets offer several funding options for users who wish to open an account with the brokerage. These options allow users to choose the best option for their needs.
For example, some users may want to use a debit card to fund their account, while others may use a bank transfer or digital currency. Whatever option is best for you, IC Markets is committed to providing you with the best experience possible.
IC Markets deliver real-time prices, live prices in real-time and quotes, order books, and order matches to users around the globe. IC Markets maintain a high standard of excellence in client service and are committed to protecting the interests of its clients and providing superior service.
- High speed of order execution.
- Availability of many analytical training materials.
- Ability to trade from a mobile device.
- Using trading advisers is allowed.
- Free deposit and withdrawal.
- Limited product selection.
- Slow live chat support.
The FXTM is the most user-friendly platform in the industry and is considered an essential piece of the trade. FXTM seeks to provide a comprehensive trading experience for new and more experienced traders. The FXTM is a platform that provides a range of tools for traders to use, including a live market platform, a chat app, and an API for developers to use. The platform is considered among the best stock brokers in Ireland, providing a range of functionalities to its users at an affordable price.
This is an invaluable tool for those new to the industry, as it allows them to observe the markets and better understand how trading works. The platform also offers a wide range of analytics and tools for advanced traders, including the ability to place stop losses and limit orders and several advanced charting tools.
The FXTM charges a flat fee of EUR 0.04 per currency pair, which is €0.20 lower than other top stock brokers in Ireland.
FXTM offers traders three types of account funding: active funding, passive funding, and no funding. Active funding includes a daily funding limit, a fixed funding limit, or a partial funding limit.
- Regulated brokerage firm.
- Various quick & easy account funding methods.
- Multiple account types to choose from.
- Tight spreads & rapid trade execution speeds.
- Commission-free accounts.
- Inactivity fees.
- No FIX API solutions.
Alpari is a global forex and CFD broker specializing in online trading for beginners and experienced traders. It offers competitive spreads and spreads and a competitive trading platform. Alpari has an impressive feature set, including margin trading, no fees, and a comprehensive suite of tools to help you trade more effectively.
Alpari charges no fees for account opening, which is helpful for new investors that may not have the resources to open an account at a full-service broker. Alpari offers standard and advanced margin trading online, with no minimums or maximums. It allows traders to invest up to €38000 per day, supported by qualified traders that can advise on trading strategies to suit different risk profiles and trading styles.
Alpari offers a variety of funding options for investing in your account. You can fund your account using a variety of cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and more. You can also fund your account using various traditional bank transfer methods.
- No commission for trading.
- $1 minimum deposit requirement.
- Compatible trading platform.
- Seamless technology.
- Limited educational resources.
- Lacks advanced trading instruments.
Here is a tabular comparison to aid you:
|Maximum Leverage||Lowest Spreads||Minimum Trade||Minimum Deposit|
|XM||1:888||0.1 Pips||0.01 Micro lots||$5|
|HotForex||1:1000||0.0 Pips||0.01 Lots||$5|
|IQ Options||1:1000||0.6 Pips||$1||$10|
|IC Markets||1:500||0.0 Pips||0.01 Lots||$200|
|FXTM||1:1000||0.3 Pips||0.01 Lots||$10|
|Alpari||1:1000||0.1 Pips||0.01 Lots||$5|
Takeaway Tips For Beginner Investors In Ireland
Now that you have finally invested your money, are you keen on making the most of your profits? Here are a few takeaway tips for beginners to make the most of their investment journey. Let’s have a look!
- Start small… be consistent, and make investment a habit
You’re wrong if you consider investing an option limited to the wealthy! Instead, it is a tool for individuals who want to grow their wealth over time. The most crucial aspect here is to make a start. Thanks to the several stock exchanges, you no longer think about ‘where to buy stocks.’ You can quickly get started by investing in small amounts regularly but consistently. For example, when signed up with XM or IQ Options, you can get started with as little as €10 per month.
The secret is simple, get started with a minimal amount or try investing a lump sum at once. Remember, when you start investing, it is always wise to go for the long run as it ensures you better prospects of decent returns.
Pro Tip: Start small and go big over time, stay consistent with your investments and increase your wealth.
- Invest with purpose
When you invest with a purpose, you have better chances of making it big in the long run. Therefore, when building your portfolio, always focus on three different factors:
- What is the ultimate goal of your investment?
2. What is the timeframe you’re looking forward to investing your money?
3. What’s your risk to reward ratio?
Once you’re clear with these different aspects, you’ll have a well-defined perspective on your investments.
- Clear expensive debt first
This step is simple! An expensive debt refers to anything apart from a home mortgage. You might have debts, ranging from bad credit debt or unpaid personal loans.
Having an expensive debt is only a means to lose all your accrued profits on investments! Therefore, before you’re ready to invest, ensure that you’ve cleared your bills first!
- Decide how you’ll invest
You can’t simply start your investment journey without proper planning. If you think that placing all your money over a single fund will get the job done, it won’t! Therefore, when investing your money, it’s always wise to first diversify your portfolio among several industries and develop a strategy to minimize your loss.
You could diversify your portfolio among different investment tools and asset classes like
However, before you put your money in any of it, stop and ask yourself a question. Are you truly investing, or are you speculating?
While speculating can be fun, it’ll only result in a loss when it comes to your life savings!
- Advice, please!
Finally, if you’re a novice investor, you should consider hiring a financial advisor rather than doing it alone.
When collaborating with a qualified financial advisor, you’re better able to make the most of your investment.
What are the best stocks you can invest in as beginners?
Many financial counselors recommend investing in cost-effective index funds because there is no such thing as a "great stock," many financial counselors recommend investing in cost-effective index funds. For example, beginners might select blue-chip stocks in the S&P 500 if they wish to add a few individual equities to their portfolio. These are some of the most stable corporations in the country, having a track record of providing investors with long-term profits.
Can I get started with stock investments in 2022?
The reality is that you'll never know when it's the best moment to invest in stocks. However, if you're planning to invest for the long term (say, longer than five years), the best time to buy stocks is as soon as you have the funds. Even if the market drops quickly after you invest, you'll have plenty of time to recover your losses. And the only way to be certain of being a part of any stock market rebound and development is to invest before it begins.
Is there any threshold to how many shares I can buy?
Q3. Is there any threshold to how many shares I can buy? The units of shares you purchase are determined by the money you wish to invest. So, for example, you could start your investment journey by investing in 10 shares for €50 and invest a total of €500. Besides, you'll also have to break down the investment if your exchange doesn’t support fractional trading and you have to invest in a significant sum of shares.
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