Davy Select Review

Richard Montana | November 17, 2022

Founded in 1926, Davy Select is Ireland’s leading wealth management provider, asset management, capital markets, and financial advisory services. Since its launch, Davy Select has continued to break new grounds in the industry by bringing about the expansion of financial and capital markets in Ireland and providing new opportunities for investors and growing companies. They offer straightforward access to the global financial markets, including thousands of shares, funds, ETFs, and bonds. You can trade and invest using a modern and intuitive investing platform whilst there are plenty of professional tools provided to help analyse the markets and find investments specific to your goals. Davy Select requires a minimum initial investment of €500 to get started.

Pros & Cons
  • Good range of financial instruments and asset classes to choose from
  • 7,500+ Shares across 30 international markets
  • 1,250+ funds and 650+ Exchange Traded Funds
  • Intuitive proprietary investment platform
  • Superb research tools including the industry leading Morningstar
  • Lots of helpful educational resources
  • Excellent customer support
  • Minimum €500 deposit
  • Cannot accept clients from some countries
  • Bank transfer funding only

Summary

Davy Select is an established financial name that has inspired confidence for nearly a century. They deliver execution-only services to retail investors who are comfortable making investment decisions independently without investment advice. These excellent range of investment services can be provided online or by telephone. The Davy Select online investment platform enables investors to hold many different types of personal investments in one place. They offer a wealth of financial products, sophisticated investing platforms and tools, along with a responsive customer service team. Davy was sold to the Bank of Ireland Group in 2022 and will continue to operate as a subsidiary within the Bank of Ireland Group.

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Regulation

J & E Davy Unlimited Company, trading as Davy and Davy Select, is regulated by the Central Bank of Ireland. Davy is a Davy Group company and also a member of the Bank of Ireland Group.

Countries

Davy Select offers its service to residents of countries and jurisdictions where the use of such services would not be contrary to local laws or regulations. If you find that you are unable to open an account with them for any reason, please feel free to peruse our broker reviews for an alternative option.

Platforms

At Davy Select, all trading activities are carried using a proprietary trading platform that is known as MyDavy. Designed with mobile and tablet users in mind, MyDavy allows you to access the service via the device of your choice with no compromise in quality. The platform is built with insightful, robust, award-winning analysis tools, including the Morningstar. With the platform, you can manage all your investments and pensions in one utterly secure environment.Davy Select provide the platform available in the following versions: desktop, web, and mobile versions. myDavy clients can set up customised alerts for certain shares, ETFs and market indices. You can also set up a watchlist for up to twenty shares or ETFs that you have selected. It gives you an at a glance overview of their current performance, including current price, change on day and day range.

Single view of your investments

View all your investments in one place, seeing your account valuation – broken down by each holding.

Simplified trading

Search Shares, Funds & Exchange Traded Funds (ETFs) and trade easily.

Simplified navigation

The ‘My Profile’ area to enable you to effortlessly administer your account, change passwords securely and manage your online correspondence.

Seamless access

Designed with mobile and tablet in mind, myDavy enables you to access the service via the device of your choice with no compromise in quality.

Tools

With Davy Select you have a wide choice of investments backed by tools to help you make shrewd decisions. You are provided with a selection of robust standalone trading tools to help you get the most out of you trades. These excellent tools include Morningstar with industry leading screening tools, portfolio x-ray and price alerts to analyse and keep track of all your favourite instruments.

Davy Research

You can get insightful, robust, award-winning analysis across a range of European sectors. Davy Select has a solid team of around 30 analysts and support staff providing in-depth coverage on over 110 stocks across a number of key sectors. The economics team focuses particularly on the UK and Irish economies as well as providing insights on more global trends. It is always reassuring to know that you have expert help on hand to assist you as and when needed.

Investment Insights

The Davy Select platform is supported by Morningstar, a leading provider of independent investment research and analysis. Morningstar helps you access company profiles, statistics, performance data, reports and charts on a wide range of global investments. I think this is one of the best tools for assisting with making informed investment and trading decisions based on professional grade market research and analysis.

Price Alerts

Set up customised alerts for shares, Exchange Traded Funds (ETFs) and stock indices of your choice. There are two types of alerts: value alerts and timed alerts. A value alert is triggered when your selected share rises above or falls below the price which you have set or increases/decreases by a percentage that you have set. A timed alert is triggered only at the times you specify. These alerts can save you from spending hours watching the charts and waiting for your preferred signal to appear or price level to be reached.

Morningstar’s Portfolio X-Ray

Use Instant X-ray to Evaluate your asset allocation and sector weightings, uncover concentrated positions, and view the stock holdings behind your mutual funds. Dissect your portfolio and gain a clearer view of your holdings with Portfolio X-Ray, a Morningstar service that helps you:

  • Uncover concentrated positions
  • Analyse your asset allocation and geographic/sector exposure
  • View the underlying investments within your funds

Screening Tools

The Morningstar search tools help you to search for investments that meet your personal investment requirements using an extensive database containing hundreds of key data points. You can access the quick rank, company profile, key statistics and financials as well as charts, performance and reports on a wide range of global investments. This is a quick and easy way to filter out the noise and find the investments that you are looking for

Education

The Davy Select website is replete with various educational resources to improve clients’ trading skills and knowledge while keeping them up to date with the latest happenings in the financial markets. These educational resources include press, news, an FAQ section, announcements, learning articles, trading guides, and tutorial videos. I particularly found the platform tutorial videos very useful. They cover everything from logging in to resetting your password, trading shares, funds and Exchange Traded Funds (ETFs) online, setting up a watchlist and transferring money in and out of your myDavy account.

Markets

Davy Select provide access to a wide range of investment choices, with something for eveyrone regrldess of your interetss or financial goals. You can choose from shares, exchange traded funds (ETFs), or funds, including the Davy GPS Funds (Global Portfolio Strategies).

  • 1,250+ investment funds
  • 650+ Exchange Traded Funds (ETFs)
  • 7,500+ shares in over 30 international markets

Accounts

Davy Select offer two execution-only account types for those who are comfortable making their own investment decisions without advice: Davy Select Personal Investment Account and Davy Select Pension Account. If you have an intermediary or investment adviser, further account options are available but you will need to contac them directly to discuss. The Davy Select Personal Investment Account (Execution-Only) has a minimum initial investment of €500.

Support

Davy Select Trading Desk and Customer Service staff are available in their Dublin office from 8 am to 9 pm Monday to Friday. You can also reach the support team via the following contact channels: telephone, email, online form, and social media. They have a large team of workers with the knowledge and expertise to answer all of your questions in a prompt and polite manner.

Funding

Davy Select only accepts bank transfers for both account deposit and withdrawal purposes. I found this to be quite limited but appreciate the security that it offers. You may want to keep in mind the time that a bank transfer can take to complete whilst planning your strategy.

Compare Broker Features

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Founded200619742007
RegulatedADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSAASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFAASIC, CySEC, FSA, SCB
Min. Deposit$100$250$200
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Bonds
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FundingBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-Wallets
TradeTradeTradeTradeTradeTradeTradeTrade

Conclusion

Overall, Davy Select is designed for investors who are comfortable making their own investment decisions without investment advice. This is known as “execution-only” and gives you full control over your decisions. It must be said that execution-only is not for everyone but they do have the platforms and tools to help you achieve your financial goals. Whether you are a private individual, a business owner or an executive, at Davy their purpose is to try and deliver world-class outcomes for everyone.

Davy Select Logo

€500

Davy Select is designed for investors who are comfortable making their own investment decisions without investment advice. You can buy and sell financial instruments via a modern platform with the tools to help you make informed decisions.

All investments contain risk. Please ensure you understand all the risks associated with any investment prior to making a decision to invest.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

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For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.