Davy Stockbrokers, NCB Stockbrokers, Dolmen Butler Briscoe, Goodbody Stockbrokers and Merrion Capital are among the firms that plan to roll out internet trading by the end of this year. Davy Stockbrokers were one of the first to announce the launch of its Internet trading site Davydirect.com, and the firm is expected to set fees somewhere below its basic rate of I£20 for stocks bought through a broker. Davy promises Irish investors the ability to trade both Irish and international shares through either their personal computers or mobile phones.

Dolmen, which currently charges 1.65 per cent for trades up to I£10,000, with a minimum charge of I£50 for trades conducted by a broker, will "definitely charge less" than its current rate, said Jane Conan, a director with Dolmen Direct, also set to go live by the end of the year. Online fees of Dolmen's service have not yet been disclosed.

NCB Stockbrokers, which also charges a basic commission rate of 1.65 per cent on the first I£10,000 for regularly transacted trades, will offer competitive internet rates, says its head of private client business John Keilthy. However, Mr Keilthy also says that online trading is not for everyone. Whilst interest in the stock market is continually growing, not everyone wants to buy and sell shares without advice. Mr Keilthy stated: 'There's still a large number of people who don't want to deal online.' NCB already offers an order routing system through the internet where trades can be entered online, but they must then be executed in person by a broker. Once the company goes online stock execution will be automatic.

Theoretically, Irish investors can already trade online with foreign brokers, but that comes with its own drawbacks, according to Keilthy. He says the Irish people have always had to invest outside of Ireland because the market is so small, principally in Britain and the US, but without a broker the buying of stocks in a different currency can be quite complicated for a DIY investor. Mr Keilthy claims that trading online through and Irish broker would eliminate the hard work.

Another Irish stockbroker, Merrion Capital, plans to offer Internet trading in the coming months. The firm will not offer commission rates lower than its current 1 per cent charge for the first I£15,000 and 0.5 per cent thereafter for having the firm execute a stock transaction on the investor's behalf. However, the head of its private client group, Rory Gillen, has warned that Internet trading does have drawbacks for the price-conscious investor: 'Online trading doesn't score on price. There's no personal touch, there's no one going in to horse-trade for you. With a broker there has to be flexibility, and you can save a few pence on the trade.'