Overview of Davy Select fees and charges
Davy Select's fees are considered to be high. This is usually a result of high fees across multiple fee types. It's important to be aware of this and to decide whether other advantages of Davy Select can still make it a good choice for you. These deciding features can be its research options, its education section or the general user experience you get on its trading platforms.
Here's a high level overview of Davy Select's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| US stock fee | High | 0.06% of trade value plus €25 flat settlement fee |
| EURUSD fee | - | Not available |
| US tech fund fee | Average | 0.5%of trade value with a minimum of €14.99 |
| Inactivity fee | High | €50 per quarter, but all commissions you paid are deducted from this amount |
Davy Select fees
Davy Select fees explained
We compare Davy Select fees with its closest competitors, DEGIRO and Interactive Brokers.
Davy Select fees
Davy Select trading fees
We see Davy Select's trading fees to be high because they charge more than most of its competitors.
Let's break down the trading fees into the different asset classes available at Davy Select.
Trading fees
Davy Select's trading fees are high.
Stock fees and ETF fees
Davy Select has high stock trading fees.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| US stock | $28.0 | $2.1 | $1.0 |
| UK stock | $16.0 | $3.4 | $3.7 |
| German stock | $28.0 | $5.2 | $3.2 |
Fund fees
Davy Select fund fees are average.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Mutual fund | $16.0 | $4.2 | $15.0 |
| EU mutual fund | - | $10.3 | $4.4 |
Bond fees
Davy Select has high bond fees.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| US Treasury bond | $133.8 | - | $5.0 |
| EU government bond | $107.0 | $3.2 | $10.0 |
Financing rates
Davy Select financing rates are .
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Apple CFD financing rate | - | - | 5.3% |
| Vodafone CFD financing rate | - | - | 4.5% |
| EURUSD financing rate | - | - | 2.7% |
| EURGBP financing rate | - | - | 2.1% |
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Currency conversion fee
Davy Select will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: 1% mark-up.
Davy Select fees
Davy Select non-trading fees
When it comes to looking at all the non-trading fees Davy Select is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.
Non-trading fees include various brokerage fees and charges at Davy Select that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | Yes | No | No |
| Account fee | No | No | No |
Davy Select fees
Davy Select deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Davy Select is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Davy Select offers.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | No | No | No |
| Electronic wallets | No | No | No |
| Deposit fee | $0 | $0 | $0 |
Davy Select fees
Davy Select withdrawal fee
Unlike some online brokers we have reviewed Davy Select does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | No | No | No |
| Electronic wallets | No | No | No |
| Withdrawal fee with bank transfer | $0 | $0 | $0 |
Davy Select fees
Davy Select inactivity fee
Davy Select does apply an inactivity fee and it is €50 per quarter, but all commissions you paid are deducted from this amount. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that Davy Select charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.
Davy Select has high inactivity fee.
| Davy Select | DEGIRO | Interactive Brokers | |
|---|---|---|---|
| Inactivity fee | Yes | No | No |
| Inactivity fee | €50 per quarter, but all commissions you paid are deducted from this amount | No inactivity fee | No inactivity fee |
Read more about Davy Select inactivity fee on their own site.
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