Investing Made Easy with Philippine Bank’s Stock Market Platforms
When we hear the word stock market we picture a place full of suit wearing men standing in front of a big black screen with ever changing numbers. The same men pace back and forth as the numbers flicker up and down.
The stock market can be intimidating and rightly so because it is one of the riskiest forms of investment and it is definitely not for the weak hearted.
However, if you play your cards right, the stock market can give you the biggest investment return.
Investing in stock is like becoming partners of big corporations. By investing your money in a company you can either earn cash or company stocks at the end of the year or on a certain period – depending on the company.
Investing in stock market
For the longest time, investing means contacting a stock broker. A stock broker isa person “who buys and sells securities on a stock exchange on behalf of clients.”
Stock brokers are essential in buying stocks because you need to contact them physically or sometimes over the phone before you can start anything. This can be a hassle for those who are too busy or just far from stock broker offices.
The good news is, Internet has made it easier to start and keep on investing. It is even easier to do it now with several big banks in the Philippines offering their in own stock market platform. Investing your money has never been more convenient especially for OFWs and even call center agents and other busy professionals who want big returns for their money.
Philippine banks with investment platforms
For this article, we will focus on three big banks in the country: BDO, BPI and Metrobank.
BDO joined forces with Japan’s Nomura Holdings to provide online trading services.
If you are a BDO account holder and are 18 years old and above you can open an account with BDO Nomura and start investing. First, make sure that you are registered with BDO online banking – this is your gateway in transacting with BDO Nomura.
Opening an account
Open a BDO Nomura account following these steps.
Make sure you receive an Approval email before continuing. New applications are only accepted until 3:00 PM, if your application comes after the cut off time, you’ll be considered for the next day.
There is no maintaining balance for BDO Nomura although you need to have funds in your BDO account so you can buy stocks.
Buying and Selling
Funding BDO Nomura is only until 10 PM. Once you complete funding, you can start using your funds for the next day.Trading hours only on week days from 9:30 AM – 3:30 PM excluding holidays. There may be some instances where your order (to buy stock) may be rejected due to different reasons like insufficient funds or suspended stock.
The earnings you’ll get will automatically go to your BDO Nomura account. You can withdraw the money by sending a withdrawal request email, upon clearance, your funds may be withdrawn after three trading days as per Philippine Stock Exchange (PSE) settlement procedures.
You may contact BDO Nomura at (02) 702-7878 or Domestic toll free 1-800-10-7027878 for PLDT or call BDO customer service. For international toll-fee (international access code) 1-800-8-6318000.
“A fully integrated online trading platform of BPI Securities…”
Filipinos 18 and above can start a trading account with BPI as long as you have a TIN number and a BPI deposit account.
You will also need TIN, SSS or GSIS number. For foreigners, your Alien Certificate of registration (ACR) or proof of work and passport should be presented to be qualified.
Open an account
Visit BPItradewebsite to open an account. You need to print and complete 3 forms namely: the BPI Trade Online application form, the FATCA and signature cards.
Bring the forms to the nearest BPI banks or go straight to BPI main office.
It will take 3-5 trading days to open your trading account with BPI. You will receive a confirmation email once your application is approved.
You do not need a minimum investment amount but you need to fund your “Settlement Account” to begin trading. The Settlement Account will become your special purpose saving account used solely for BPItrade transactions.
Your BPItrade account needs an Average Daily Balance worth P500
You can fund your BPItrade account through BPI Express Online, mobile banking, Expressphone, ATM or in any BPI Bank.
Buying and selling
To start buying or selling click on “Trading” tab found in BPItrade platform. You need to complete required information to put in your order. For added security, a summary of your order will be displayed again, once sure of the details you need to confirm your order by typing your password.
If you want to withdraw simply log in back to BPItrade website, click on account and click Withdrawal. After entering the amount you wish to withdraw and typing your password, your money will be sent to your regular deposit account.
Withdrawal request made before 10am of a trading day will be available at 3-6PM of the same day. Requests made after 10am will be available at 3-6PM the next day
Trade office is at the 3rd floor, BPI Building, Ayala Ave cor Paseo de Roxas, Makati City. You may contact them at 816-9189 or 916-9724 and 845-5617 during weekdays from 8:30-5:30.
Domestic toll free number at 1-800-188-89100 or 89-100 within Metro Manila.
For Filipinos abroad you may get in touch through +632 89-10000
BPI has an active Facebook and Twitter account – BPItrade or email [email protected]
First Metro Securities Brokerage Corporation
Also known as FirstMetroSec. This is a licensed stock brokerage house wholly owned by First Metro Investment Corporation of Metropolitan Bank and Trust Company or Mertobank.
Only those of legal age with TIN are qualified to apply for a FirstMetroSec account.
Foreigners can apply by presenting at least 2 of the following:
- Drivers license
- Alien Certificate of Registration Card
- Philippine Retirement Authority ID
and a list of accounts in other banks.
Opening an account
Interested in opening with FirstMetroSec? Visit their website to open an account. Fill out all required information then print the following:
- Customer account information form
- Trading agreement
- Signature cards
Submit the forms to your Metrobank branch of account together with photocopies of 2 valid IDs and a billing statement within the last 3 months.
Expect to receive a notification email in 2 days.
As a MetrobankDirect account holder, opening a trading account is free.
If you do not have a MetrobankDirect account, enroll your account online and link it to your online stock trading account.
You may fund your trading account through MetrobankDirect or by visiting the nearest Metrobank account.
Buying and Selling
Trading can start as soon as you receive your confirmation email.
Simply log in to your trading account and click on “trading” then place in details of your order and click “send.” Your order will be displayed again on screen for a final checking. Type in your password as soon as everything is in place to proceed with the order.
You may request for withdrawal of funds via your FirstMetroSec account to your designated bank account. Requests should be made before 4pm to be processed on the same day.
Only cleared funds may be withdrawn. You may get your money in 3 trading days.
You may contact FirstMetroSec at 859-0699 or 242-3450. For Cebu dial 520-5695 and 293-9354 for Davao.
Their main office is located at the 18th floor of PSBank Centre in Paseo de Roxas Ave corSedeno St in Makati City.
Using the trading platforms of BDO, BPI and Metrobank, it is easier now to invest in stocks.
When choosing a trading platform:
Making trading available online makes it convenient even for Filipinos overseas. So far, only BDO Nomura lets you open an account without visiting a physical branch. Fortunately, BPI and Metrobank branches are almost everywhere in the country and even in select countries where there is a huge Filipino population.
Fluid flow of funds
Aside from convenience of location, it may be more practical to open a trading account with them so that your money can be move fluidly from your saving account to your trading account and back.
If you do not have an account with any of the three banks or you want to transfer banks, contact the bank you have in mind and ask for their requirements like documents and funds in account. Last I check, BDO needs your account intact for several months before applying for trade account.
There are certain fees that the banks charge for every transaction, make sure to find out about this as it may affect your net earnings Although, the fees that each bank charge on buying or selling of stock are almost the same with just a few centavo difference if any. Still, these small difference will mean a lot for bigger purchases. Still, it may not be enough to base your decision on fees alone.
Online platform features
Not all websites look and feel the same, some are easier to use or has a cleaner interface. This is the same for trading platforms.
BDO Nomura platform has a clean, easy to use interface quite similar to the BDO online banking website. BDO uses a PSETradex trading platform.
BPI trading platform is a little flat, to put it nicely. Sorry, BPI. However, the platform is good enough for passive investors who already have a BPI account.
Check out each website and use their free trial, if available. This will help you have a feel of how their platforms work.
Of course, it is nice to have someone pick up the phone to answer some problems you may encounter using the bank’s platform. Try calling the bank’s hotline numbers to inquire about their trading platform.
You may also check if there are any trading seminars offered by the bank.
Investing in stock market is still a big deal, risks and returns wise. Fortunately, it is easier to do it now especially with your trusted bank helping you handle transactions online.
Even if you do not have a bank account yet, starting one is also a breeze. Just go to your chosen bank or speak to a customer service representative over the phone and you are on your way to becoming a smart stock market trader/investor.