Summary

Recommended for investors focusing on Irish and UK markets

Davy Select is an Irish stockbroker founded in 1926. The company is regulated by the Central Bank of Ireland. Davy Select is the execution-only brokerage arm of Davy Group, which provides a broad range of wealth management services.

Davy Select is considered safe because it has a long track record and is regulated by a top-tier financial authority.

Overall Rating
2.8
Fees
0.7
Account opening
1.0
Deposit and withdrawal
2.3
Trading platform
1.2
Markets and products
3.0
Research
3.5
Customer service
4.0
Education
3.5

Davy Select pros and cons

The quality of customer service is good, and Davy Select also has great educational materials. It provides good research tools, especially when it comes to fundamental data.

On the negative side, Davy Select's trading fees are very high. Account opening is slow and involves a trip to the post office. Credit/debit cards are not accepted for deposits, and account currencies are limited to EUR, USD and GBP.

Pros Cons
Fast and helpful customer service High trading fees
High-quality reserach tools Complicated account opening
Great educational materials Only bank transfers for deposit and withdrawal
Davy Select main features and highlights
🗺️ Country of regulation Ireland
💰 Trading fees class High
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $600
🕖 Time to open an account >3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 3
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Davy Select review
Fees

0.7
To find out more about its trading and non-trading fees, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select has high stock, ETF, bond and fund trading fees. There is also a high inactivity fee. As a plus, there is no fee for withdrawals in Ireland.
Pros Cons
No fee for withdrawals in Irealand High stock and ETF fees
High bond fees
High inactivity fee
Davy Select fees snapshot
Assets Fee level Fee terms
US stock High 0.06% of trade value plus €25 flat settlement fee
EURUSD - Not available
Mutual fund High 0.5%of trade value with a minimum of €14.99
Inactivity fee High €50 per quarter, but the commissions you paid are deducted from this amount

How we ranked fees

We ranked Davy Select's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of Davy Select for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Davy Select's fees with those of two similar brokers we selected, DEGIRO and Interactive Brokers. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Davy Select alternatives.

To have a clear overview of Davy Select, let's start with the trading fees.

Davy Select trading fees

Davy Select trading fees are high. The fee structure is different for each account type. In this review, we calculated fees for the Davy Select Personal Investment Account.

Stock fees and ETF fees

Davy Select has generally high stock and ETF commissions, well exceeding those of its closest competitors.

Davy Select stock and ETF commission on a $2,000 trade
  Davy Select DEGIRO Interactive Brokers
US stock $31.2 $0.7 $1.0
UK stock $18.0 $2.6 $7.8
German stock $31.2 $5.8 $4.8

Different commissions apply to Irish/UK stocks and other markets:

  • Irish and UK stocks/ETFs: 0.5% of trade value with a €14.99 minimum commission per trade
  • Shares listed outside Ireland and the UK: 0.06% of trade value plus a €25 settlement fee per trade

Fund fees

Davy Select fund fees are high, though the difference to its competitors is not as big as in the case of stocks/ETF fees.

Davy Select commission for a $2,000 fund purchase
  Davy Select DEGIRO Interactive Brokers
Mutual fund $18.0 $11.1 $15.0

Fund fees are calculated as 0.5% of trade value with a minimum of €14.99. In addition, there is an annual management fee, which is

  • 0.5%-2.0% for Davy funds
  • 0.4%-2.0% for non-Davy funds

Bond fees

Davy Select has high bond fees in comparison with its competitors.

Davy Select commission on a $10,000 government bond trade
  Davy Select DEGIRO Interactive Brokers
US Treasury bond $150.0 - $5.0
EU government bond $120.0 $11.0 $10.0

The fees for bonds are 0.50% of the transaction value with a minimum of €100. For non-Irish and non-UK bonds, there is also a €25 settlement charge per trade.

Non-trading fees

Davy Select has average non-trading fees.

On the positive side, there is no account fee or deposit fee. It's also great that next-day withdrawals in Ireland are free as well. However, withdrawals to other countries and same-day withdrawals incur a fee of €25-50 per transaction.

There is also a high inactivity fee of €50 per quarter, although the commissions you pay during the quarter are deducted from this amount.

Davy Select non-trading fees
  Davy Select DEGIRO Interactive Brokers
Account fee No No No
Inactivity fee Yes No Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Davy Select review
Account opening

1.0
To experience the account opening process, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
At Davy Select, you can choose from many account types. However, the account opening process is time-consuming and not fully digital.
Pros Cons
User-friendly Slow
Many account types Not fully digital

Can you open an account?

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Davy Select accepts clients from the EU and the UK.

What is the minimum deposit at Davy Select?

Davy Select's minimum deposit is €500 (ca. $600) for Trading accounts.

Account types

Davy Select provides many account types, grouped into two categories: Trading accounts and Pension accounts. These accounts differ in pricing and minimum deposit levels.

Davy Select account types
Account type Minimum deposit Fee for Irish/UK stocks & ETFs
Trading accounts
Personal Investment Account €500 (ca. $600) 0.50% with a minimum of €14.99
Investment Only Account €500 (ca. $600) Annual 0.90% of portfolio value with a minimum annual charge of €400
Pension accounts
Personal Retirement Savings Account No minimum Annual 0.75% of portfolio value

Approved Retirement Fund Account

Approved Minimum Retirement Fund Account

Executive Pension Portfolio Account

Personal Retirement Bond Account

No minimum Annual 0.90% of portfolio value

Pension accounts also differ in other ways, such as the the amount you're allowed to contribute. For example, the Personal Retirement Savings Account has a contribution limit, while the Approved Minimum Retirement Fund has no such limit.

How to open your account

Davy Select's account opening is not fully digital and as a result takes much longer than usual. It took several weeks before our account was verified.

You need to go through the following steps to open your Davy Select account:

  1. Choose the account type
  2. Fill out an online form, entering data and information such as your contact details, occupation, financial situation, etc.
  3. Post the application form to Davy Select's address. You also need to attach documents to the application form.

To verify your identity, you can send copies of your national ID, passport or driver's license. To verify your residency, you have to submit the original version of one of the following: utility bill, bank statement, social insurance document, etc.

Once your account is finally verified, you must first pay the minimum deposit (if you selected a Trading account) before you can start trading.

Davy Select review - Account opening

Davy Select review
Deposit and withdrawal

2.3
To find out more about the deposit and withdrawal process, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Deposit at Davy Select are free, as are next-day withdrawals within Ireland. However, there's a high fee for international withdrawals, and you can't use credit/debit cards.
Pros Cons
No deposit fee Credit/Debit card not available
Free withdrawals in Ireland High fee for international withdrawals
Limited number of account currencies

Account base currencies

At Davy Select, you can choose from 3 base currencies: EUR, USD, GBP.

Base currencies at Davy Select vs similar brokers
  Davy Select DEGIRO Interactive Brokers
Number of base currencies 3 9 22

This is a relatively poor selection compared with competing brokers. If you have a bank account denominated in a currency other than EUR, USD or GBP, you must pay a conversion fee every time you deposit or withdraw.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers.

Compare digital banks

Deposit fees and options

Davy Select charges no deposit fees. You can use the following methods to deposit:

  • Bank transfer / electronic funds transfer
  • Cheque
  • Bank Draft
  • Direct debit - you can set up weekly or monthly contributions

However, you can't use credit/debit cards and electronic wallets.

Davy Select deposit options
  Davy Select DEGIRO Interactive Brokers
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No Yes No

A bank transfer can take several business days, while payment with a credit/debit card would be instant. You can only deposit money from accounts that are in your name.

Davy Select review - Deposit and withdrawal - Deposit

Davy Select withdrawal fees and options

Davy Select charges no fees for next-day withdrawals in Ireland. However, same-day withdrawals as well as international withdrawals have a high fee, ranging between €25-50 per transaction.

Davy Select withdrawal fees and options
  Davy Select DEGIRO Interactive Brokers
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

You can only withdraw money to accounts that are in your name.

How do you withdraw money from Davy Select?

  • Pick the method of payment
  • Choose the currency you want to make your withdrawal in
  • Enter the amount to withdraw
  • Enter a contact number where the broker can reach you if there's any issue with the transaction
  • Initiate the withdrawal

Compare to other brokers

Davy Select review
Web trading platform

4.2
To try the web trading platform yourself, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select has a user-friendly web trading platform, including safe two-step login and clear fee reports. However, the platform is not customizable and order types are limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report Limited order types
Two-step (safer) login
Davy Select platforms to choose from
Trading platform Score Available
Web 4.2 stars Yes
Mobile - No
Desktop - No

Davy Select has its own in-house developed trading platform, called myDavy.

The web trading platform is available only in English.

Look and feel

The Davy Select web trading platform is user-friendly. However, it is not customizable at all.

Davy Select review - Web trading platform

Login and security

Davy Select provides a safe two-step login. When you log in, you will receive a 4-digit verification code on your phone.

Search functions

The Davy Select web trading platform's search functions work well. When you start typing your query, a list of relevant search results will appear.

Davy Select review - Web trading platform - Search

Placing orders

You can use only basic order types:

  • Market / Quote
  • Limit

To get a better understanding of these terms, read our overview of order types.

Advanced order types are not available, and you also cannot set any order time limits.

Davy Select review - Web trading platform - Order panel

Alerts and notifications

You can set price alerts on Davy Select's platform. There are two types of alerts you can use:

  • Value alert - you receive an alert when the price of an asset hits your preset level.
  • Timed alert - you receive an alert at a specified time every day, e.g. at 10 am.

Portfolio and fee reports

The platform has clear portfolio and fee reports, including the profit/loss of your positions. You can find them under the 'Trading' tab.

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Davy Select review
Mobile trading platform

To try the mobile trading platform yourself, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select doesn't have a dedicated mobile trading platform. It has an app called Davy where you can check your positions but can't execute any trades. It is available for both Android and iOS.
Davy Select review - Mobile trading platform

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Davy Select review
Desktop trading platform

Davy Select does not provide a desktop trading platform.

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Davy Select review
Markets and products

3.0
To dig even deeper in markets and products, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select has products suitable for investing such as stocks, ETFs or funds. You can also access international markets. However, popular asset classes like forex or CFDs are missing.
Davy Select asset classes
  Davy Select DEGIRO Interactive Brokers
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No No Yes
Fund Yes Yes Yes
Bond Yes Yes Yes
Options No Yes Yes
Futures No Yes Yes
CFD No No Yes
Crypto No Yes Yes

Davy Select's product selection falls short of the competition, both in terms of the number of asset classes as well as the number of products within each asset class.

Stocks and ETFs

Davy Select offers stocks and ETFs from many international markets, including in the UK, the EU and the US. However, the actual number of ETFs offered lags behind its competitors.

Davy Select stock and ETF selection
  Davy Select DEGIRO Interactive Brokers
Stock markets (#) 30 30 78
ETFs (#) 650 5,400 13,000

Funds

Davy Select gives access to relatively few fund providers. This selection does cover some of the biggest names such as Blackrock, Vanguard or Deutsche Bank, though.

Davy Select mutual fund selection
  Davy Select DEGIRO Interactive Brokers
Fund providers (#) 30 64 260

Bonds

You can invest in both corporate and government bonds, including EU, US and other government bonds.

However, the total number of available bonds is not displayed transparently.

Davy Select review
Research

3.5
To check the available research tools and assets, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select's research tools include trading ideas and detailed fundamental data. However, its charting tool is really basic.
Pros Cons
Trading ideas Limited interactive charting
Data on asset fundamentals No/limited set of analytic tools
User-friendly

Davy Select's research tools are available both on its trading platform and on its public website. All tools are fairly easy to use.

Trading ideas

Davy Select offers investment analysis and trading ideas from Morningstar.

You can also read analysis prepared by Davy's own research team under the 'Markets & Insights' tab. However, these are not updated frequently.

Davy Select review - Research - Recommendations

Fundamental data

Davy Select provides a broad selection of fundamental data on its platform. This includes company profiles, information on shareholder structures, and some basic valuation and earnings metrics such such as P/E, P/BV, P/CF, ROA, ROE, ROI or dividends.

Davy Select review - Research - Fundamental data

Charting

Davy Select's charting tool is very basic. You can add only a few indicators to the chart.

Davy Select review - Research - Charting

News feed

Davy Select offers a news feed powered by Reuters. You can also sign up for two additional daily email updates: News2Day and Davy Select Updates.

Compare research pros and cons

Davy Select review
Customer service

4.0
To find customer service contact information details, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select's phone and email support work well; we received quick and useful answers. However, there is no live chat or 24/7 availability.
Pros Cons
Phone support No live chat
Fast response time No 24/7 support
Relevant answers

You can contact Davy Select via:

  • phone
  • email

The overall quality of Davy Select's customer support was good. The response time of phone support was fast and we got relevant answers.

Queries via email yielded helpful replies, whereas the average response time was around one day.

On the negative side, there is no live chat support, and we also missed 24/7 availability, as Davy Select's customer support is only available on weekdays.

Davy Select review - Customer Service

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Davy Select review
Education

3.5
To check the available education material and assets, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select has great educational materials including videos, educational articles and investment guides. However, there is no demo account.
Pros Cons
Trading platform tutorial No demo account
Educational videos

At Davy Select you can learn in the following ways:

  • Platform tutorial videos
  • Quality educational articles
  • General educational videos
  • Webinars on Davy's website

Davy Select's Education materials can be found under the 'Guides & Tools' tab on its website. From a great investment guide to high-quality videos, you can find a lot of valuable material.

However, we missed the option to open a demo account. We think it would be the best way to learn how Davy Select's platform works.

Davy Select review - Education

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Davy Select review
Safety

To find out more about safety and regulation, visit Davy Select

or
Compare to its best reviewed alternative: DEGIRO
Davy Select is regulated by the top-tier Central Bank of Ireland and has a long track record. On the other hand, Davy Select is not listed on a stock exchange.
Pros Cons
Majority of clients belong to a top-tier financial authority Not listed on stock exchange
Long track record

Is Davy Select regulated?

Yes, it is regulated by the Central Bank of Ireland. Davy Select is based in Ireland and was founded in 1926.

Is Davy Select safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

As Davy Select is regulated by the Central Bank of Ireland, customers are protected by the country's Investor Compensation Scheme.

The investor protection per account is 90% of your net loss, but is capped at €20,000.

Background

Davy Select was established in 1926. The longer track record a broker has, the more proof we have that it has successfully weathered previous financial crises.

Among recent events, the Central Bank of Ireland fined J&E Davy (the broker's parent company) €4,130,000 for breaching the EU's MiFID regulations on several occasions between July 2014 and May 2016.

Find your safe broker

Davy Select review
Bottom line

Visit Davy Select if you are looking for further details and information

or
Compare to its best reviewed alternative: DEGIRO

Davy Select is an Irish stockbroker, regulated by the Central Bank of Ireland.

On the plus side, Davy Select has great customer support. We received relevant and quick answers to our questions. The research section offers trading ideas, a broad array of fundamental data and a quality news feed to help you formulate your investing strategy. Davy Select also offers great educational materials including great articles and platform tutorial videos, among others.

However, trading fees are really high and there is also an inactivity fee. The account opening process is overly complicated, and you can use only bank transfer to deposit or withdraw.

As Davy Select offers many account types and has a solid research and education service to help you with investing decisions, we encourage you to give it a try.

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Davy Select review
FAQ

Below you can find links to all aspects of Davy Select in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Davy Select fees article.

What about the minimum deposit?

Our ultimate guide to the Davy Select minimum deposit is updated regularly.

How to start your Davy Select account?

Look no further than our evaluation of Davy Select account opening.

How's their trading app?

Here's our expert view after checking the Davy Select trading app.

Is the quality of customer service satisfactory?

All you need to know about Davy Select customer service.

Legit or scam?

Our article "Is Davy Select legit?" features all the key aspects you need to look at to see if a broker is safe and legit.

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