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Investments denominated in a currency other than your base currency may be affected by changes in currency exchange rates. Execution-Only is not for everyone. You should ensure that you fully understand any investment and the associated risks before making a decision to invest. Alternatively, Davy can arrange for you to open a different type of account, where we can advise you in relation to investment decisions, or where we can manage investments on your behalf.
This website does not constitute investment advice as it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person or persons. Prospective investors are advised to make their own assessment of the information contained herein and obtain professional advice suitable to their own individual circumstances.
Details about the extent of our authorisation and regulation by the Financial Conduct Authority are available from us on request. The value of your investments can go down as well as up. Real-time price quotes in Irish and UK equities and instant deal confirmation for quote orders. You are comfortable making investment decisions on your own, without advice. Need help getting started?
Call us 01 Shares are generally bought and sold on stock exchanges. Shares allow you to invest across a number of industries and economies globally. You can sell your shares whenever the market is open, subject to liquidity. Shares may offer income through dividends as well as capital growth. Fees and charges apply. Some risks of investing in Shares You should remember that the value of shares can fall as well as rise and you could get back less than you invest.
Not all shares pay dividends and the value of the payments can fluctuate. Some investments may offer limited liquidity, depending on market conditions and other factors. Past performance is no indication of future performance. Investments denominated in a currency other than your base currency can be affected by exchange rate movements when converted back to the base currency.
Benefits of investing in shares with Davy Select. Powerful investment platform Sophisticated trading and analysis tools from Morningstar TM , a market-leading information provider. Share Transfers You can transfer your existing holdings from other firms into your Davy Select account. Davy Select does not charge a transfer fee for the transfer of holdings from other firms. Please be aware that some firms charge exit fees and you should check these before you transfer.
Click here for more information. Davy We are an established name, a trusted financial brand that has inspired confidence for nearly a century. Choice A wealth of financial products. Confidence A trusted and long-established name in financial services. Knowledge Market expertise and intelligence. The service which we offer under this agreement is an Execution-Only Securities Dealing service. For this service we are not, in any circumstances in a position to accept requests from clients to be treated under a different client categorisation.
We will not, under any circumstances, sell investments on your behalf which will result in you having a short position. A short position arises when a person has contracted to sell investments which he or she does not currently own, his or her plan being that, before he or she has to deliver the investments to the purchaser, he or she will be able to buy them in the market at a price lower than that currently prevailing.
We will not borrow funds for you under any circumstances. We may hold such funds pursuant to such borrowings. We do not provide taxation advice. It is your responsibility to seek independent professional advice regarding any taxation matter relating to your investments.
In the event that you hold, acquire or dispose of any property investment which forms part of your Pension Scheme, Goodbody Stockbrokers UC and its associated companies will not have any obligation whatsoever to you in terms of advice, management, selection, valuation, holding or disposal of any such property investment.
In this section we set out our position on the many administrative issues that may affect your account. We may aggregate your order with the orders of other clients. There is a risk that on some occasions aggregation may work to your disadvantage. We may also aggregate the settlement of your transaction with other client trades when executing them with certain market counterparties. Telephone calls and any electronic communications are recorded to ensure accuracy, to help maintain quality of service and for fraud prevention purposes.
Withdrawals from pension schemes, including retirement annuity contracts, are only permissible subject to Revenue requirements, which vary according to the pension scheme's legal structure.
No liability shall attach to Goodbody Stockbrokers UC acting on instructions which it believes in good faith to have been validly given by persons who are authorised to do so.
Should you at any stage ask us to remit funds to a third party you will confirm this request to us in writing. We operate a policy in relation to such payments and any requests to pay a third party which are not in line with our policy will be declined.
Payments can be made directly to the client or to the client's own bank account. Your attention is drawn to the fact that we reserve the right at all times and without prior notice to you to sell or realise any investments which we are holding or entitled to receive on your behalf in order to meet any liabilities which you may have incurred to us and failed to discharge.
You agree that all your investments held at any time by us or any custodian pursuant hereto shall be and remain a continuing security for the payment and satisfaction when due of all monies, securities and other indebtedness and liabilities of whatever nature including, without limitation, any resulting from any commitment entered into for you, any contingent indebtedness, interest, and any of our costs and charges, whether paid or incurred in obtaining or attempting to obtain payment or satisfaction from you or in perfecting or enforcing this security, or otherwise which may at any time be or become due or outstanding to us, from you.
We may at any time take legal action to recover amounts owing to our firm which you have failed to discharge. Details of any such legal action may be communicated to you in writing, by service of proceedings or otherwise.
Instructions may be given to us by telephone, orally or in writing. Facsimile and email instructions relating to transactions on accounts will not be acted upon unless they are in confirmation of verbal instructions. We may in good faith rely upon and you will be bound by any instructions which purport to be or originate from a person authorised on behalf of you to give such instructions.
We accept at best and limit orders. Any Irish or US limit order which we accept will be valid for seven calendar days, commencing the day the order is placed and expiring at the end of the seventh day, unless previously cancelled on your instruction.
Limit orders in other stocks are valid for a period as determined by our counterparty, unless previously cancelled on your instruction, and are subject to change. Where you place a limit order in financial instruments which are admitted to trading on a regulated market or traded on a trading venue and that order is not immediately executed under prevailing market conditions, you hereby instruct us and any agent acting on our behalf not to make the order public where it is considered appropriate not to do so.
If you wish to receive an update on the status of an order this can be provided to you on request. Where any Irish order is part-filled, the balancing order will be placed as a new order the next day with an expiry date in line with the original order.
We reserve the right not to carry out any sale of certificated stock until we receive certificates and properly completed transfer documentation in respect of the sale. If, however we do carry out such transactions a we shall not be under any obligation to carry out further such transactions and b we reserve the right to repurchase the shares on your behalf without being responsible for any loss or diminution in value.
The cost of the repurchase together with normal transaction charges will be applied to your account. We reserve the right not to place instructions for any purchase order until a we receive payment in full in respect of that order and b we receive full payment for amounts due to us or which may become due as a result of previous transactions. If, however we do carry out such transactions we shall not be under any obligation to carry out further such transactions.
We will continue to contact you using the most recent contact details we have on record for you unless we receive written instructions to the contrary. The terms of this agreement and any changes to them will remain in effect from the time you open your account until the account is closed.
We may change the terms of this agreement by providing you with a written notice. This notice will be provided to you electronically via our online service once you activate and verify your account access online.
You should be aware that once you do this you will not receive a paper copy of any such notice. If you prefer to receive these notices by post, you should contact us and we will arrange this for you.
Our charges will be in accordance with our charges schedule in effect at the time the charges are incurred. A copy of our current charges schedule is included in this agreement. You will also have to pay any applicable value added tax, stamp duty or similar third party charges. Charges may change from time to time and we will notify you in advance of any such changes.
Details of any commission sharing arrangements which relate to trades conducted on your account will be available on the contract note. We may share management fees with third parties or associated companies.
The fee sharing arrangement is normally calculated as a percentage of the fee charged to your account and further details are available on request. We may receive a commission from third parties or associated companies relating to investments transacted with third party providers. This commission will be expressed as a percentage of the ongoing value of the investment.
Further details relating to these arrangements are available in the charges schedule. Please note that you are not entitled to refunds for money paid in respect of the purchase of financial instruments and any other costs. Outlined below is a summary of our Conflicts of Interest Policy.
In providing investment services to retail clients, actual or potential conflicts of interest may arise between the interests of the service provider including its employees and businesses within the same group and the interests of its clients. Goodbody Stockbrokers UC acknowledges the legal and regulatory responsibility to effectively identify, prevent or manage actual or potential conflicts of interest which entail a risk of damage to the interests of one or more of its clients.
The Policy sets out the legal and regulatory requirements:. The Policy is underpinned by procedures designed to prevent or manage conflicts of interest that could arise. We have set out below some examples of the type of interest, relationship or arrangement where a potential conflict may arise when providing services to you. Under the terms of S. We may contact you either in writing to include email , by telephone or in person in connection with your account.
Where you avail of our online service we may also post notices to your account which you can access via our Website. Should you have a complaint regarding the service you have received and the matter cannot be resolved by the person with whom you are dealing, you should refer the matter to the Head of Wealth Management who will ensure that your complaint is dealt with.
The firm also has a Compliance function, which is independent of the Head of Wealth Management. You may wish to refer any complaints to the Head of Compliance for investigation. These arrangements may be terminated by either of us at any time by providing written notice to the other. If at any time you have not transacted on your account for at least one year and you have no holdings in your account, we may close your account without any prior notice.
If your account is closed in this manner and at a later date you wish to place an order you will need to open a new account. The regulatory system applicable to Goodbody Stockbrokers UC is different to that which applies in the United Kingdom. We reserve the right at any time to correct errors or omissions on our contract notes, valuations or statements. You will be obliged to settle the trade as dealt by us.
When we carry out a trade for you we will issue you with a contract note in respect of that trade, no later than the first business day following the day of execution of the trade. A contract note will be provided to you in respect of every trade on your account. We will assume that you have received the contract note confirming your trade and that the details on it are correct and concur with your instructions unless you contact us within five days of the trade date.
The contract note will be provided to you electronically via our online service once you activate and verify your account access online. You should be aware that once you do this you will not receive paper copies of your contract notes. If you prefer to receive your contract notes by post, you should contact us and we will arrange this for you. We reserve the right to seek evidence of identity for anti-money laundering, anti-terrorist financing, fraud prevention purposes and to comply with any other legal or regulatory obligations which may apply to us.
In the case of delay, or failure to provide satisfactory information, we may take such action as we think fit. We may take whatever action we consider appropriate to meet our obligations, either in Ireland or elsewhere in the world, relating to the prevention of money laundering, terrorist financing or fraud and to the provision of financial and other services to persons who may be subject to sanctions.
This action may include, but is not limited to, investigating and intercepting payments into and out of your account and making enquiries to establish whether a person is subject to sanctions.
This may result in delay or failure to execute instructions received from you or in the receipt of cleared funds. You acknowledge and agree that, we shall not be liable for any loss, damage or other liability suffered by you or any third party which arises as a result of taking such action. We reserve the right at all times and in our absolute discretion not to open an account.
We may require you to provide us with accurate and up to date information and documentation that we consider necessary in order to provide our services to you in accordance with our legal and regulatory obligations. If you fail to provide us with this information and or documentation we may not be able to provide you with our services or may only be able to provide a restricted service to you.
You acknowledge and agree that we shall not be liable for any loss, damage or other liability suffered by you or any third party which arises as a result of taking such action. You may have requested us to show financial instruments that you hold in your own name on your account with us.
If so, by presenting the information in this way we are not representing that they are due to you or that we hold them in safe custody or as part of our nominee service for you. We will continue to reflect these financial instruments on your account unless you advise us to increase, reduce or remove them following any purchase, sale or corporate event.
No transfer of any interest in your account, whether legal and or beneficial shall be made by you unless you have obtained our prior consent in relation to such transfer and the transferee has first entered into such documentation as we in our absolute discretion, deem appropriate in order to regulate the relationship between the parties.
All information and communications provided to you will be in the English language and all information and communications provided by you must also be in the English language.
We are registered with the Irish and London Stock Exchanges as a market maker in equities. If we have dealt as principal in any transaction this will be disclosed on the contract note. You hereby acknowledge that Goodbody Stockbrokers UC shall not be responsible and shall have no liability for any loss or damage, liabilities, claims, expenses, awards, proceedings and costs, including any loss of profits, revenue or goodwill, whether arising directly or indirectly, and whether arising in contract, in tort including negligence or for representations made or otherwise collectively "losses" , as a result of or in connection with performance or non-performance of our obligations under this agreement and regardless of whether the possibility of such losses was disclosed to or could reasonably have been foreseen by Goodbody Stockbrokers UC, save to the extent that such losses arise directly as a result of the gross negligence, wilful default or fraud of Goodbody Stockbrokers UC.
For the avoidance of doubt, Goodbody Stockbrokers UC shall not, in any circumstances, be liable for any special, indirect or consequential losses or for direct or indirect loss of data, profits, revenue or goodwill arising under or in connection with this agreement, even if foreseeable or if Goodbody Stockbrokers UC has been advised of the possibility of such losses.
You also hereby specifically acknowledge that Goodbody Stockbrokers UC shall not be responsible and shall have no liability whatsoever for any direct, indirect or consequential losses, whether arising in contract, in tort including negligence or otherwise, arising:. However, nothing in this agreement shall exclude or restrict any liability which Goodbody Stockbrokers UC has to you under any applicable law or regulatory requirement, and which cannot be excluded or restricted by agreement by reason of applicable law or regulatory requirement, and the provisions of this agreement which purport to exclude or restrict any such liability shall not apply only to the extent that such liability may not be so restricted or excluded.
This agreement is governed by and shall be construed in accordance with the laws of the Republic of Ireland and the Courts of Ireland will have exclusive jurisdiction to resolve any disputes.
An overseas regulatory charge may apply to certain transactions and the amount of the charge will vary depending on the market. If we conduct a transaction for you in a foreign currency it will be necessary either a for you to settle with us in that currency or b for us to carry out a currency exchange deal.
Where we receive funds from you or collect income on your behalf we will lodge them in the currency of receipt unless you do not have an account denominated in that currency and it would be unduly burdensome for us to open such an account.
In such instances we may convert the money and hold it in an alternate currency for you. Any currency exchange deals that we conduct on behalf of our clients will be transacted at a market rate available to us and will include a spread up to a maximum of 1. If we place funds that we hold on your behalf with a deposit taking institution that charges a negative interest rate or similar fee or charge on the client account.
You will be required to pay the negative interest rate or fee which will typically be no greater than 1. If we enter into a deposit broker arrangement with a deposit taking institution we may receive a fee for our deposit broking services from the deposit taking institution of up to 0. Investments in certain products may incur costs and charges which are in addition to those charged by Goodbody Stockbrokers UC.
The table below sets out, in percentage terms, the range of costs and charges that are incurred within certain products. This column discloses the typical range of costs and charges that may be charged or incurred at the time of the initial investment for each type of product listed in column 4.
The range is shown in percentage terms and is typically based on the investment amount. This column discloses the typical range of costs and charges that may be charged or incurred on an ongoing basis for each type of product listed in column 4.
This range is shown in percentage terms and is typically based on the net asset value of the product at the time the costs and charges are incurred. Costs and charges are described on an annual basis but may be charged against the net asset value of the product at any time.
This column discloses the typical range of costs and charges that may be charged or incurred at the time of exiting the product. The range is shown in percentage terms and is typically based on the gross value of the investment at the time of exiting. This column discloses the category of product to which this range of costs and charges may apply.
The table below sets out the method by which Goodbody Stockbrokers UC is paid fees by the fund manager or product provider of certain financial products. This column discloses the range of fees that we may receive from the fund manager or product provider at the time of the initial investment for each type of product listed in column 3.
The range is shown in percentage terms, and is typically based on the investment amount. This column discloses the typical range of fees that we may receive from the fund manager or product provider on an ongoing basis for each type of product listed in column 3.
The range is shown in percentage terms and is typically based on the net asset value of the product at the time the payment is calculated. Fees are described on an annualised basis but may be paid on a bi-annual, quarterly or monthly basis to Goodbody Stockbrokers UC, depending on the product.
All charges will be debited to your account to be discharged either by cheque, by electronic funds transfer or by the funds available on your account. We reserve the right to sell or realise any investments which we are holding or entitled to receive on your behalf to meet any liabilities which you have incurred and failed to discharge.
This information provides a general description of the nature and risks of financial instruments taking account of your categorisation as a retail investor. It does not disclose all the risks and characteristics of financial instruments which you may trade in, however it is designed to give you an understanding of the major risks and characteristics.
In addition, if you are an Execution-Only retail client you should note that your account will be restricted to transacting in financial instruments which are classified as non-complex financial instruments. You should not deal in financial instruments unless you are aware of the nature and risks of the transactions you are entering into. You should obtain a clear explanation of all commissions, fees and other charges for which you will be liable. These charges will affect your net profit if any or increase your loss.
You should understand the extent of your exposure to any potential loss. The value of financial instruments may fall as well as rise. When investing in financial instruments there is a risk that you may lose some or all of your original investment. You should consider whether investing in financial instruments is suitable for you in light of your individual circumstances and taking account of your investment objectives, financial position, attitude to risk and your investment knowledge and experience.
In deciding whether certain financial instruments are suitable investments the following information describing the nature and risks of such instruments should be carefully considered. Changes in global and regional economic conditions or sentiment are likely to cause volatility in the value of financial securities.
Such changes can occur abruptly and can impact on the expected profit or loss from a transaction. Transactions on markets in other jurisdictions may expose you to additional risk. Such markets may be subject to regulation which may offer different or significantly diminished investor protection. Before you trade you should enquire about any rules which may be relevant to your transaction. Your local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected.
You should ask your broker for details of the types of redress available in other jurisdictions before you start to trade. The profit or loss for transactions in foreign currency denominated contracts whether they are traded in your own or another jurisdiction will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. Changes in interest rates can have an effect on the value of securities.
The value of securities, especially bonds can fall with a rise in interest rates as other investments reflecting the new higher interest rate offer greater returns. Such risk can be offset by diversifying the durations of fixed-income investments held. Alternatively, if interest rates fall, then the value of bonds and other securities may rise.
Most open-outcry and electronic trading facilities are supported by computer based component systems for the order-routing execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure and you will be exposed to risks associated with the system including the failure of hardware and software.
The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. In some jurisdictions, and only then in restricted circumstances, firms are permitted to deal otherwise than on a regulated exchange i. The firm with which you deal may be acting as your counterparty to the transaction.
It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before you undertake such transactions, you should familiarise yourself with applicable rules and attendant risks.
There is no guarantee that the tax advantage promoted as a feature of an investment will remain in place. It is important to note that the levels and bases of taxation may change and this can may occur without prior notice. You should always take independent professional taxation advice. Owning shares in a company provides an opportunity to share in a company's profit and performance, in the form of dividends and capital growth.
Individual shares and stock markets can be volatile, especially in the short-term. Some shares are likely to be more volatile than others. This will be based, amongst other things, on the business, geographic location, liquidity and size of the company. Shares will tend to perform well when the outlook for their business, their sector and the overall market is positive while the opposite is the case when the outlook is poor.
Your ability to realise the value of shares when you so wish is a critical factor liquidity. Shares in companies that are not traded on a stock exchange can be very difficult to sell. Many shares that are traded on Stock Exchanges are bought and sold infrequently and finding a buyer may not always be easy. Potential investors should be familiar with any company they plan to invest in.
Many Stock Exchanges operate markets that are designed for emerging or smaller companies. The shares of such companies tend to be higher risk than those of larger more established companies and they also tend to be less liquid. An investment in shares gives rise to exposure to several risks including market risk, currency risk, economic conditions risk, interest rate risk, industry specific risk, liquidity risk etc. Share portfolios are at a greater risk of significant loss if there is a lack of diversity i.
However, as the value of shares may fall as well as rise there is a risk that you may lose some or all of your original investment. A bond is a debt instrument in which the issuer promises to pay to the bondholder principal and interest according to the terms and conditions of the particular bond. Although not to the same extent as shares, bonds can be subject to significant price movements. Bonds that are traded on regulated markets tend to be more liquid and easier to sell than those that are not traded on such markets.
The size of a bond issue is also important in determining liquidity with smaller issues being less liquid. As with shares some bonds are considered to be safer than others. In general, Government Bonds are considered to be subject to less risk than Corporate Bonds. This is simply because governments are less likely to default on their debt than companies, although this may not be the case with some emerging markets.
Bond ratings give an indication of an issuer's probability of defaulting, based on an analysis of the issuer's financial condition and profit potential. Corporate bonds are issued by companies but they are split into different types depending on the credit rating they achieve.
Companies whose bonds have high ratings are known as investment grade bonds while those with low ratings are known as high yield bonds because they have to promise higher income payouts to attract investors.
In some cases, the bonds issued by a company may not have been allocated a credit rating, which makes it more difficult to obtain an indication of the issuer's probability of defaulting and may be an indication that these bonds carry an additional risk. Companies also issue different types of bonds. Debenture stocks, for example, are secured against specific company assets while unsecured loan stocks pay higher yields but are not secured against the company's assets.
Companies also issue convertible bonds that give holders the right to convert bonds into shares under certain circumstances. Interest rate movements, changes in economic conditions and issuer specific concerns all tend to cause bond price volatility and are risk factors for the holders of bonds. Concerns as to the solvency or financial strength of an issuer will have a negative impact on bonds of the issuer.
Conversely strong issuer balance sheets provide a positive backdrop for bonds. However, as the value of bonds may fall as well as rise there is a risk that you may lose some or all of your original investment. ETFs are investment products that provide investors with an opportunity to invest in a diversified basket of shares through one investment instrument. An ETF will generally track the shares of companies that are included in a selected market index, investing in either all of the shares or a representative sample of the shares of the selected index.
ETFs are generally more liquid than other types of collective investment schemes and can be traded in the same way as any listed share. Like shares, ETFs can be subject to volatility, especially in the short term.
Some ETFs are likely to be more volatile than others. Certain ETFs are designed to provide a leveraged exposure to the index, which will magnify both the positive and negative performance of the index. Leveraged ETFs are likely to be significantly more volatile than unleveraged ETFs, and the scale of any potential loss is likely to be much greater.
Certain ETFs are designed to provide an inverse or short position in an index. This means that the ETF is intended to perform well if the index performs badly, but will suffer losses if the index performs well.
ETFs can be differentiated by whether they physically hold securities or synthetically replicate the index. Physical ETFs attempt to track the relevant index by holding all, or a representative sample, of the underlying securities that make up the index.
Synthetic ETFs do not directly hold the securities that make up the index, but enter into derivative transactions which are intended to replicate the performance of the index. This synthetic method may be used where it is more expensive or more difficult to hold the securities directly, such as where the securities within the index are less liquid, but are not limited to these scenarios.
ETFs are exposed to market risk, currency risk, economic conditions risk, interest rate risk, liquidity risk with certain ETFs being particularly exposed to the risks associated with a specific industry sector. ETFs are likely to perform well in times of positive market and sectoral conditions while they are likely to perform poorly if such conditions are negative. Potential investors should be familiar with the nature of the underlying companies of any ETF they plan to invest in.
However, as the value of ETFs may fall as well as rise there is a risk that you may lose some or all of your original investment.