How to invest in the Philippine Stock Market – Part 3

Starting to trade online

Part 1 of this series discussed the basic principles that each prospective investors should understand. In the second part of this series the advantages in investing in the stock market has been thoroughly discussed. By now, you are probably kicking the dust eager to put your money where your mouth is.

But hold your horses, you still have to answer some preliminary questions. Where should you trade? How does this stuff work in the practical level? Where do I find a broker? How much should I start with etc.

There are several Philippine online brokers but I could not discuss them all. I would only like to discuss two of them. I choose these two because these are the ones that I have personal experience with. If you know of any excellent Philippine online stock brokers and if you have any personal experiences with them feel free to discuss or promote them by commenting on this post.

The first online broker that I would like to introduce you to is BPI trade. There are several things that I like with BPIbpitrade_ban2.jpg trade. First of all is the convenience of transferring funds back and forth from your account to your trade account. Since your trade account is tied up with your BPI savings account and you can access your savings account in their online portal, www.bpiepxressonline.com you have the convenience of transferring money back and forth and withdrawing your money via atm. Secondly, BPI trade has a very simple interface. If you are a new to online trading, you will find their interface very user friendly and clutter free. The market information they provide is not so comprehensive but enough to make an informed decision and enough for those who do not have time to go through the rigors of technical analysis.

In order to start trading with BPI Trade go to their website at www.bpitrade.com. Click on “Apply Now”. Fill up the online application form, print it and bring it to your nearest BPI bank together with the other requirements that is asked in the website. You need to have a BPI savings account to do this as this will be your “beneficiary account. “ So technically you have two accounts. Your Trade account and your “Beneficiary account.” The trade account is where you place your money in order to trade in the stock market. When you make withdrawals (like when you profit from a sale, earn dividends or simply sales from stocks) from your trade account you transfer it to your “Beneficiary account” in order to withdraw it via ATM. You need about P 3,000.00 to open a beneficiary account and another P 5,000.00 to open a Trade account. These are the minimum maintaining balance. So you have to add more if you want to trade in the stock market. P 10,000.00.00 more would be good but P 20,000.00 would be so much better. After you have submitted the application form to your nearest BPI branch you will have to wait for a confirmation email before you can start to trade. Once you get the email, you can then start trading.

citiseconline.JPGThe second online broker that I want to introduce you to is CITISEC Online. They are one of the largest online brokers in the country today. The thing I like about CITISEC online is they pursue their mission of educating the public about the stock market so seriously that they go out of their way to conduct free seminars in order to fulfill this mission. They also make their analysis tools available to their clients. Plus they also give out the most comprehensive reports with regards to information that could help you decide whether you should buy or sell a stock. They also give out their own personal recommendation on what to do with a stock. CITISECONLINE does not hide what they legally know about the market from their clients rather they give their market all that the necessary information in order that their clients can make the best decisions. The fundamental analysis they provide are a gold mine for long term investors. They also provide a credit facility in order that you could maximize your earning potentials.

If you want to sign up with CITISEC Online go to their website at https://www.citiseconline.com. You can also try their online tour if you like in order to get a feel of what the inside of their website looks.

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5 Responses to How to invest in the Philippine Stock Market – Part 3

  1. Amazing site! I found your blog very interesting.I read your first 2 parts Philippine Stock Market also thanks for the updated information

  2. My first online stock broker is actually CitisecOnline. I have been satisfied with them so far. Highly recommended. Although I also have an account in BPI Trade.

  3. zigfred says:

    jhesqi: I love CITSEC’s comprehensive information. I consider them one of the most innovative online stock brokers :-)

  4. june says:

    hi po. i just happen to browse by your blog as i am trying to read about how to invest in the stock market. i have friends who are currently doing an online stock trading with bpi trade. and i am getting quite interested to try it too. i am actually an employee in a trust institution. though we dont offer stocks to our clients. i am only 23 years old and on my 2nd year as an account officer. i know how the uitf’s work and the ima’s… but i wanted to invest on my own while im still young. what’s stopping me is my hesitation since i do not have much funds to risk, aside from my very limited knowledge about the stock market. i cant afford to lose all of my savings as it is intended for my tavels. :) now i am thinking, if ever i venture into online stock trading, i will start with 30k-50k or aorund 50% of my savings. do u think it would be sufficient/advisable? also, i am thinking of metrobank’s online stock trading as i have read a lot of negative reviews about bpi trade. as with citisec online, id love too but they require a 25k maintaining… sayang din yan pambili ng stocks.. i hope you can enlighten me on this.. thanks much.

  5. zigfred says:

    June: Hello, I will inform you once I have drafted a response. If you don’t mind, I will post your question and my response in my stock market investing blog. It will take me some time to make a response as I am busy with other things, but rest assured I will be making a response. From time to time visit my stock market investing blog at http://www.stockmarket-investing.com

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