How do I buy shares online?
Log in to Davy Select and go to the Trading section
If you have any problems logging into the site, please read How do I log in.
When you click on the trading tab, the Trade Shares page is displayed.
Check that the Trade Type is set to "Buy"
To buy shares in a company that you already hold shares in
The shares that you currently hold are listed on the right hand side of the trading screen. To trade a stock that you currently hold, double click on the stock name in this list. This will enter the name into the Company Name field, and you can proceed to choosing the type of order you wish to place.
Find the shares that you want to buy
To buy shares in a company that you do not currently hold shares in:
Enter the company name into the Company Name field on the form
A list of matching company names will be displayed
Select the shares that you want to buy from the list
If you cannot find the shares in the drop down list, use the Advanced Search
The Equity Quick Rank (provided by Morningstar™) allows you to filter shares by their Exchange, Sector, Industry, Name, ISIN or Ticker. This tool is available when you are logged in.
If you can't find the share you want to buy using our online search facility, please telephone the Davy Select Dealing Desk at +353-1-614 9000 and ask us to add the share. Once we add the share to our list of shares, you will be able to trade it online. However, if you place an order with the Dealing Desk by phone, you will be charged the higher commission for telephone trading (more information on charges).
Once you have selected your shares, the Indicative Price and the Currency are displayed
The indicative price is an initial estimate of the price based on the last recorded trading price of the shares. This is provided for information purposes only, as the reporting of market prices is delayed by 20 minutes. This price is not guaranteed, and the quote that you receive for the shares will probably differ from the indicative price.
The currency that the share is traded in is displayed beside the Indicative Price, and beside the price that you will set for the shares.
Order type: Limit or Quote?
You now need to choose the type of order you want to place.
A quote order is a quote on the lowest price that these particular shares are available to trade at through Davy Select. You can decide whether to accept the quote and deal at the quoted price, or reject the quote. If you reject the quote, your order will not be placed.
Quote orders are only available on Davy Select for Irish and UK stocks during market hours. For all other markets and ETFs, you will have to select “place limit order”.
A Limit Order means that you set the highest price that you are willing to pay for the shares at this time. You must set a time limit on the order, known as the duration. Your duration choices are:
- “Good for Today only”: your order expires once the Market closes. If you input the order after market close for the relevant Exchange, the order will be treated as Good for Next day and will expire when the market closes the next day.
- “Good until Friday week”: If you set your order duration to 'Good until Friday week', your order expires Friday of the following week.
If you wish to place a quote order:
Enter the number of shares that you would like to buy.
Choose your settlement currency.
Click Request Quote.
The currency that you wish to pay in. If you hold sufficient cash in that currency with Davy Select, you may prefer to pay for it in this currency, so that no currency transactions are required.
If you do not hold cash in this currency or if you have insufficient cash in this currency, Davy Select will automatically undertake a currency deal on your behalf to fund the transaction from the currency in which your cash is held.
Quickly review the quote
Once you place your quote order, you will have 10 seconds to accept or reject the quote. In this time, you must review the quote and choose to accept or reject the quote.
Accept the quote
If you accept the quote, your order will be executed at the quoted price.
Reject the quote
If you reject the quote, your order will not be placed. You can either cancel the order and return to the Trade Shares screen, or choose to place a limit order.
If the quote expires
If you neither accept nor reject the quote within 10 seconds, the quote will expire. At this point you can cancel the transaction and return to the Trade Shares screen, or choose to place a limit order for the shares.
If you wish to place a limit order:
Enter the highest price you are willing to pay for the shares at this time.
Enter the number of shares that you would like to buy.
Choose your duration: "Good for Today only" or "Good until Friday week" (explanation of duration)
Choose your settlement currency
Click Calculator to see a breakdown of the charges on the trade
Using the Calculator allows you to see how much each trade will cost or recoup for you. It gives you a breakdown of the charges on the trade in both the settlement currency and the transaction currency. The settlement currency figures are an estimate, as a currency deal may be required.
If you are happy to proceed with the trade, click on Preview Order to review the details of your order before placing it.
On the Preview Order page you can review the details of your order.
If you are happy with the order and want to proceed, click Place Order.
If you would like to change the details of your order, click Edit Order to return to the Trade Shares screen and change your order
If you have changed your mind and do not want to complete the trade, click Cancel Order.
Order on the market
Once your order has been placed, you will receive a confirmation message on screen:
The details of the order are displayed on the screen. You can choose to check the status of your order by clicking on View Order Status. This will bring you to the Open Orders page, where all your current open orders are displayed. Open orders are those currently working in the market and which have yet to be dealt in the market. Open orders can be valid for up to 14 days inclusive of weekends. Open orders include those partially executed where the order is partially dealt but not completely executed, or the order can be partially executed but where the remainder of the order is pending cancellation.
Open orders also include frozen and rejected orders. Frozen orders are orders that have encountered a problem at the exchange, and you will need to contact the Davy Select Dealing Desk on 01 614 8900. A rejected order is one where the market has not been able to execute the order at a price equal to or better than the limit that you set. You may request cancellation of un-executed and partially executed orders and we will try to act on your request. However, we cannot guarantee that you will be able to cancel any order, as it can depend on the status of the order in the market.
Confirmation of Trade
When your order has been successfully executed, a confirmation email will be sent to the address registered to your account. These emails are also saved in your Davy Select Inbox.