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 BPI 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.

The 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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