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. TO THOSE EXPERTS, AUTHENTIC AND OTHERWISE, AND “TSUPITEROS”, IT 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.