My new segments in my blog: The online stockbrokers that I use

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                                source: http://www.yourbrokerguide.com/
If you remember I introduced you to the online stockbrokers… if you haven’t read that yet click here.


Okay so let me make some introductions first. One might ask me why online stockbrokers? What are the benefits?

Here are my reasons why I opted for online stockbrokers:
1. Online stockbrokers are cheap. Most only charge a commission of
    0.25% to 0.50% per all transaction. Most have no maintaining
    fee, and only charge a small fee for call trading assistance.

2. Online stockbroker’s platform are easily accessible online and 
    they are secure. That is why they have to be accredited by both
    SEC and PSE.

3. Online stockbroker’s web page are full of information and guides 
    to help you make that buy or trade

4. And lately after the PSE upgraded most have brought back the
   off-hours facility. No more early morning waking up for our stock 
   investors abroad to place their stock trades

Those are the benefits to name a few.

Now as promise I will be posting a series on how to navigate and use the two online stockbrokers I am currently using. I am using Citiseconline and First Metro Securities Brokerage Corp. to know more about these two click on them to go to their website.

Here is a story on how I ended up with these two online stockbroker.

                                     source: www.citiseconline.com
Citiseconline was the first online stockbroker I applied to. I learned about them through Bo Sanchez‘s book 8 Secrets of the Truly Rich. Long before I have always wanted to enter the stock market. I remember the days when my professor and dean in PSBA-QC would tell us about his masteral class challenging them to buy stock in the Philippine Stock Market and their grade in his class will be based on the performance of their stock investment. It scared me to take an MBA class because back then I really have no idea even how to buy a stock. Is it done just like going to the “sari sari” store asking the “tindera” to sell you stocks? I know it wasn’t.

But in the end while working abroad and after mustering my courage to dive in an unknown territory I checked out Citiseconline‘s website and tried there 15 day or so free pass which I didn’t even use because I really have no idea how to do the action in the stock market.  After nearly 6 months I inquired via email and a reply from Jenny Senining gave me hope of opening an account. I planned and I inquired like a little child so afraid to bring and placed my tiny money in to a strange place called “online stockbroker” but finally when I had a chance to get a vacation from my overseas work I made sure it is my first order in my list. Went Tektite to looked for the Citiseconline office and luckily Ms. Senining was there to assist me and that afternoon I funded my account and got may access after a day..that was late November last year.

And then ecstatic that I was I went to my account check this and that and place my first order. After the day nothing happened. After a week nothing happened. After a month still nothing happen. So I asked myself what’s wrong with my bid? Then a new thread in the forum where I accustomed to share my ideas and advices opened. It was about stock investing. And from there on my knowledge grew leaps and bounds due to friends who share the same passion for stock investing. My humble thanks to our OFW friend who started that thread, “maraming salamat rich dad ninong 🙂 “
 
I made my first buy on March 2010 and from their on I have been buying, then waiting till it profits around 5-10% net of cost before selling and sometimes when times are good I profit up to 40%

    source: www.firstmetrosec.com.ph

The reason why I opened another online stockbroker account is funds accessibility.

Being the online brokerage arm of Metrobank fund transfer from your Metrobank account to your First Metro Securities account is a breeze through Metrodirect. I am in the process of familiarizing myself about FMSB’s online platform and will soon share here my experience in navigating and making the most of their platform.

Also the well known stock analyst Gus Cosio is in FMSB and his blog is linked to their website. With the latest announcement that FMSB can now accept off-hours trading I guess more and more Pinoys can benefit from it. Also to open an account you just need a minimum of Php 5,000.00, of which Php 2,00.00 is for your maintaining  balance for your Metrobank account and the Php 3,000.00  cash is available for stock investment.


Financial Freedom Advocate About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Check him out in Google+ Learn more about Louis and his financial freedom advocacy here.

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19 comments for “My new segments in my blog: The online stockbrokers that I use

  1. Anonymous
    June 27, 2011 at 7:40 pm

    Should you cherish money, get hold of every last bit of [b]APRO [/b] you possibly can simply because there is a HUGE R/M heading in just a week! Once it occurs, your whole life would certainly transform overnight. Invest in your share of the INCREDIBLE profits to be had.

  2. Anonymous
    July 8, 2011 at 11:34 pm

    learned a lot

  3. July 9, 2011 at 7:42 am

    Thanks please share my blogs!

  4. Anonymous
    July 17, 2011 at 6:42 pm

    Ladylike Post. This enter helped me in my college assignment. Thanks Alot

  5. Anonymous
    November 4, 2011 at 1:35 pm

    hello, I have a metrodirect account (php et savings) and I just linked it to my stock trading account just this evening, but it still doesn’t show that my metrodirect is already linked with my fms account when I look at the “Manage Stock Trading Funds” tab, is there something wrong with what I did or is this just not that instant when done in the evening??? how long might it take??? thank you very much!

  6. November 4, 2011 at 1:51 pm

    If you have just done it this evening try to check it again tomorrow. Sometimes Metrobank’s system don’t automatically make changes when their office is closed. Also you should received email notification from Metrobank. If you have not received any I guess your linking request is not yet process. You can check it tomorrow and if it is still not reflecting email Metrobank’s support to follow up your linking request status.

    Hope this helps.

  7. Anonymous
    November 4, 2011 at 1:55 pm

    WOW THAT WAS QUICK!!!!!
    THANK YOU SO MUCH!!!!!!

  8. November 4, 2011 at 2:08 pm

    Your very welcome!

  9. Anonymous
    November 13, 2011 at 1:58 pm

    its me again sir, the anonymous coward, I just cant help but ask, I tried buying 10 shares of PSE last week at around 11:30am, checked my account again at around 1pm and the market had already closed yet my order was still not processed, could it be that firstmetro finds my order cheap? has this already happened to you too sir??? take care

  10. November 13, 2011 at 9:45 pm

    If your order went through then I dont think your order was cheap. Be mindful that there is a static and dynamic limits to the price you are bidding on. It is possible that your price was within the static price range thus First Metro’s system accepted your order but that price was probably not within the dynamic limits that is why your order was not matched at the end of the day. Read my post about static and dynamic order to learn more.

    And again don’t be shy to ask. That is one of the rules of stock investing. If I can answer your query well and good, if not I will ask somebody about it and relay it to you 🙂

  11. Anonymous
    December 1, 2011 at 1:42 pm

    Hello sir Im back!
    I noticed that the first time I bought some stocks, FMS showed that there were no matches, perhaps no one was selling that small volume of stocks that’s why it did not go through, you think my observation is correct?

    Also, do you receive any “acknowledgement” electronic receipts from FMS? I receive it everytime I buy or sell stocks

    God bless kind sir!!!!!!!!!

  12. December 2, 2011 at 9:00 am

    Very good your picking up knowledge along the way. Yes that could be the reason meaning your volume is to small or also the price you are asking or bidding on is not within what others want to buy or sell that is why your order didn’t match any other trader’s order.

    Yes FMS and all online brokers should sent you a receipt for evry successful transaction. If you opted for an emailed receipt then it will be sent to your nominated email but you can also choose an actua paper receipt which will be delivered to your mailing address. If you love nature better go paperless 🙂 and save the trees.

    Again maraming salamt for asking I hope others will be enlighten as well. Share the knowledge..

  13. Anonymous
    December 7, 2011 at 6:58 am

    Hello I am new here. Hope to get to know eachother well.

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  14. Anonymous
    December 24, 2011 at 1:15 pm

    hello sir, its me again!!! just dropping to say a MERRY CHRISTMAS to you, may the twin hearts guide you and your loved ones to eternal life amen

    PS
    I might come back some day with more questions 😀

  15. Anonymous
    June 7, 2012 at 1:18 am

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