Choosing The Best Online Stock Trading Brokers In The Philippines

Choosing the best online stock trading brokers in the Philippines can be time-consuming. So, if you already have made up your mind about investing in the Philippine stocks but can’t figure out which broker to choose, here are some ideas to help you decide and get started!

The list of online stock trading brokers in the Philippines is quite long. Some are making trends on the internet and some are just playing low profile in the trading game. So, to help you get right into the spot and make the choice a lot easier, I made a rundown and narrowed the list to four of the Philippines’ bests.

Best Online Stock Trading Brokers in the Philippines

(random order)

COL Financial

Minimum Initial Funding: Php 1000.00

Account Opening: Online

Requirements:

– One valid government-issued ID, device with camera for selfie and video capture, blank sheet of paper for signature capture, Philippine bank account details,
– For employed or self-employed – SSS/GSIS/CRN and TIN
– For minors – Birth Certificate
Additional requirements (if applicable):
For non-resident foreigners: 1 valid passport copy
For resident foreigners: 1 valid passport and
Alien Certificate of Registration (ACR) or Work Permit from DOLE

Account Funding

Online:
Bank of the Philippine Islands (BPI)
Banco de Oro (BDO)
Metrobank
Asia United Bank
Chinabank
Robinsons Bank
Unionbank
GCASH

Over-The-Counter:
Bank of the Philippine Islands (BPI)
Banco de Oro (BDO)
Metrobank
Asia United Bank
Robinsons Bank
Unionbank

COL Business Center:
2403-B East Tower, Tektite Towers, Exchange Road, Ortigas Center, Pasig City, Philippines 1605

Overseas Remittance:
BDO Kabayan Bills Bayad
iRemit Remittance
BDO Overseas Remittance

BPI Trade

Minimum Initial Funding: no minimum investment

Account Opening: Online

Requirements:

– Any one (1) valid government-issued ID
– An existing BPI or BPI Family Savings Account
Additional requirements (if applicable):
– Employment/Salary: Certificate of Employment/ITR/Latest Pay slip
– Business: Business Permit/Latest AFS
– Remittances: Bank Statement/Remittance Slip for three (3) months
– Pension/Retirement: Senior Citizen ID/Bank Statement
– Investment/Savings: Statement of Account (SOA) or Certification from your existing Broker/Bank Statement

Account Funding

Online:
Bank of the Philippine Islands
BPI Family Bank

BDO Securities

Minimum Initial Funding: no minimum investment

Account Opening: Online

Requirements:

– Any one (1) valid government-issued ID
– BDO Online Banking account

Account Funding

Online:
BDO Online Banking account

First Metro Sec

Minimum Initial Funding: no minimum investment

Account Opening: Online

Requirements:

– Signature Bearing Government Issued ID + 3 Specimen Signatures
– SSS/GSIS required for all employed, except OFWs
– Tax Identification Number (T.I.N.)
– Proof of Bank Account
– Proof of Address
– Active Email Address
For self-employed and business owners: Proof of Self-Employment/Business with any supporting documents such as DTI Certificate, Business Permit, BIR FORM 2303, sample contract

Addtional Requirement for Foreign Investors – if applicable only:
US Person / Residing in US – FATCA and Enhanced Due Diligence
Non-US Person – Enhanced Due Diligence

Account Funding

So which one from among the list above? It all depends on what features and trading tools you need. But for newbies, I would recommend user-friendly platform of COL Financial and First Metro Sec. For you to understand and get into the bottom, open a demo account of each from the list above, play on it for a while and then decide which one you feel perfectly just right for you.

Happy investing!