BLOG: My Online Stock Broker

We’ve just finished the “basics to learning investing” series here in PHStocks. For those who happen to be their first time here, you can find the first part here, second part here, and third parthere.

(NOTE: AGAIN, THIS ARTICLE IS ONLY FOR THOSE BEGINNERS IN STOCK INVESTING. THOSE EXPERTS, AUTHENTIC AND OTHERWISE, AND TSUPITEROS, WOULD BE BEST IF YOU JUST GIVE THIS PIECE A MISS.)

In the last part, I listed the accredited online brokers by the Philippine Stock Exchange (PSE). As mentioned, online stock brokers have made it possible to enable ordinary people like us to start investing in stocks.

Well, it was also possible to invest in stocks before, of course, but at this age of the internet, it just got easier. And more visible. And more practical. And more flexible.

Such are the major qualities I am looking for when I decided to start investing in stocks.

So here I was researching over the net to find out the online broker that suits my preferences. I was initially thinking of getting aboard COL Financial Group (PSE: COL). It was Citisec Online then. It was actually okay for me. However, the only issue I had was that either you have to invest a certain amount every month (that is if you sign up on their one program or plan; or if you will sign up in the other one, you have to deposit PhP25,000.00.

I am not a cheapo, but I find that it doesn’t give me the flexibility I need towards my finances. So I opted for First Metro Securities Brokerage Corp. (FSMBC), the stock brokerage arm of First Metro Investment Corp. (FMIC), which in turn is the investment banking arm of the Metropolitan Bank and Trust Company (Metrobank,PSE: MBT). FMSBC provides retail customers—US—with a more convenient and accessible medium—online is one—through which we can participate in the stock market.

First Metro Sec also offers timely and accurate research and market information, therefore providing ease in making informed trading decisions.

Considering those points, I know I am onto something good. Finally, what sold me into signing up online with First Metro Sec is the fact that, as long as you have a savings account at Metrobank (which I already do have), you do not need an initial deposit to start trading. But of course, you have to fund your stock trading account, BUT it doesn’t need to be as big as PhP25,000.00. To the “other” people, this amount is peanuts. To the rest of us “regular guys”, this amount is a bit too steep. I for one will have a heartburn if I will put in this amount JUST TO OPEN an account.

With the proposition of not requiring an initial investment deposit—but with the required savings account—I believe, First Metro Sec brings stock investing to the “regular” people.

DISCLAIMER: First Metro Sec has no idea I am writing about them in this article. They also have no dealings with PHStocks whatsoever. (I wasn’t paid to write this article, is what I am saying.)

So, if you have decided to really start investing in the stock market, and you happen to already have a savings account in Metrobank, then I suggest signing up on First Metro Sec. Those who don’t, then open a savings account with Metrobank. For a minimum of PhP2,000.00, you can already have a Metrobank e-Teller (ATM) savings account—without a passbook, that is. Even with that (such as what I have), you can already sign up for a stock trading account at First Metro Sec, link your savings account and stock trading account, fund your stock trading account, and be ready to buy that very first stock.

Of course, there are a lot of online brokers that you can choose from. It just so happened that I preferred First Metro Sec.

VIOLENT REACTIONS? They are absolutely more than welcome. Shoot me an email at richard@phstocks.com.

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5 thoughts on “BLOG: My Online Stock Broker

  1. Hello guys,

    I too were just starting to do my homework on Stocks Investment.
    Just a few comment though on FMIC..plus point is that less fees..no back end fess..
    minus side is that it is not a good avenue for a newbie since what we can do on our stock specially on Mutual Fund is limited
    based on the FMIC Site..not able to receive the dividends directly is discouraging though it is it is allocated to the Mutual Fund in General but since We can not choose the specific Stock to buy on Mutual Fund..
    But in general this is an Excellent Blog..UNBIASED and truthful..

    Thanks Richard

  2. I have enrolled both in COL Financial and First MetroSec. Both are great. What differs is only which account deposit you prefer. For me I do MetroBank so its easy to go to First Metro as primary and check research on both sites. First Metro has better historical data though than COL. But if your looking into 5 year data only, its just as good in COL

  3. Hi! I’m also doing some research on possible online stock brokers because I’m planning to dip my toes into stock trading. In case you missed it, COL Financial has an Easy Invest Program and you can open an account and start trading for as low as Php 5,000 and it’s up to you how much you will add to your account. But of course it’s better if you invest regularly.

    Check out this link: https://www.colfinancial.com/ape/Final2/home/open_an_account.asp

    I am in no way affiliated with COL Financial but so far it’s at the top of my list right now for my potential online stock broker. But if you already have a savings account with Metrobank, I guess that would still be convenient.

    • Hi Justine,

      Thank you for your insightful remarks. I actually did consider COL Financial, but since I have been using Metrobank in my other banking activities, I decided to just stick with it.

      Now, here’s the thing. I may be wrong, but at the time, I was under the impression that the Easy Investment Program requires you to fund your stock brokerage account with PhP5,000.00 monthly. Isn’t it?

      Or am I wrong, and that if you opened an account under that EIP with PhP5,000.00, you can fund your account with less than that amount in the following months?

      Best,
      Richard

  4. Thanks for this great help. It is really helpful. I know this for sure because i am also in this field. I have a similar site regarding stockbroker help. Do visit and tell me how it is.

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