Stock Market Investment is one of my planned investment vehicles. I have been wanting to invest in the stock market, as mentioned in my February Financial report. I am happy that I was already been able to fill out the required forms for my chosen stock broker and was given right away with the user account number which I needed to fund for my account. When I got home, I right away accessed my account and funded it with the savings I intended for this investment. Yeheey! this is now the start of my stock market investment journey.
How I Opened my Account on ColFinancial
I went to the Col Financial office at Robinsons Cybergate, Davao City. I brought with me my filled out forms and submitted it to the front desk officer. After looking at my filled out forms, I was asked to fill-out again because I was using the old forms. So I fill-out the forms they gave me. These forms consist of Customer Account Information Form (CAIF), Foreign Account Tax Compliance Act (FATCA) Disclosures, and the Online Securities Trading Agreement which can be downloaded from this link of COL website.
After filling out and giving them the forms, they asked for my 2 valid government issued ID. They then photocopied it and ask me to affix my 3 specimen signatures to my photocopied ID. After that, I was right away given an account number and temporary password to fund my account. I was happy that it was just very fast. The front desk officer told me that I can now fund my account using the account number as my user ID and the temporary password given to me. However, upon logging in to my account, I have to change my password right away for security reasons. When it was time for me to go, the front desk officer said,
Congratulations. Happy investing. Keep on funding!
These words keep ringing in my ear. Ah, this account is useless if I will not keep funding and growing it.
How to fund my trading account in COL Financial
Funding my account at COL Financial is just easy because there are many options. I personally choose the Metrobank Online Payment because it has the lowest transaction fee.
Online payment and over-the-counter deposits can be done through banks affiliated with Col Financial like Bank of the Philippine Islands (BPI), Banco de Oro (BDO), Metrobank and Asia United Bank (AUB). For those OFWs who want to fund their account, they can have overseas remittance thru Banco de Oro (BDO) or iRemit payments.
Congrats MFB on this crucial step. I think its all about getting your hands dirty from here on. If there’s one unsolicited advice i could give, pick stocks that you love/use but be objective in your analysis. And dont ever let your mind fall into the trap of peer pressure. You should start looking at some tools to help you out. Personally i like tipranks.com as a good starting place.
ETFs are also giving traditional stocks some stiff competition.
Good luck.
Thanks Ranga. I am learning the ropes of stock market investing.
I’m happy to find another a fellow Filipino blogger @RockstarFinance.com!
Congratulations for getting your feet wet. I’d avoid individual stocks for now, if I were you.
Instead, I’d go for highly-diversified low-cost index funds. Just a friendly tip.
Thanks for visiting my little corner in the web Menard. Thanks also to your advice about index funds. I am really considering it since I don’t wanna lose money on individual stocks.