In my previous posts, I listed ways on how to open a stock trading account at CitisecOnline and BPITrade. In order to give more alternatives to investors and visitors of this blog, I would like to discuss ow to open a stock account at FirstMetroSec, one of the online stock brokers in the Philippines.
First Metro Securities Brokerage Corporation (FirstMetroSec) is a stock brokerage company licensed by Philippine Stock Exchange to execute trading of stocks. It is wholly-owned by First Metro Investment Corporation (FMIC), the investment arm and subsidiary company of Metrobank Group that deals primarily on stock trading, mutual funds and other investments.
Its office is located at the 18th floor PSBank Centre, 777 Paseo de Roxas Ave. corner Sedeño St., Makati City 1226. You can contact them through the following information:
Email address: firstname.lastname@example.org / email@example.com
Telephone no: (632) 859-0600 to 02
Fax no: (632) 859-0699
FirstMetroSec is a new stock broker compared to CitisecOnline which have been in the industry for more than a decade. I have a friend who opened an account a when she was outside the Philippines. I think her application was easy because she was able to get an account even she’s working abroad.
Features of FirstMetroSec
In general, FirstMetroSec provides each investor to buy or sell stocks through online order using their system but you should apply first an account with them before you could do this. I’ll detail the process of application below so keep on reading. To learn more about the details of features and benefits you can get from FirstMetroSec, you could visit their website here.
How to Open an Online Trading Account?
In order to buy and sell stocks online, you should apply first an account at FirstMetroSec. Furthermore, it would be helpful if you have a Metrobank account with Metrobank Direct online banking. You could see the posts I made before to learn how to open a bank account and apply it for Metobank Direct. Just check the links below.
After completing the application, visit the homepage of FirstMetroSec at www.firstmetrosec.com.ph. Look for the “Open Account” tab and click it. Then, it will direct you to a detailed procedure on how to open an account. At the beginning, you must fill up important information about your account. Next, after completing all forms, you should print it, sign the form and include one photocopy of two (2) valid IDs. Finally, you should send the forms and Copies of IDs to First Metro Securities Brokerage Corporation (FMSBC) either through your branch or directly to their office for processing of your application.
What are the Requirements in Opening a FirstMetroSec Account?
Before opening an account, it is better to ready or prepare the requirements so it would be easier for you to complete the application. The necessary requirements will be the following:
1. Printed copy of the completed Online Customer Account Information Form (CAIF), signature cards and Trading Agreement form, duly signed.
2. TIN is needed and mandatory in filling up the application form
3. Photocopy of any two (2) of the following IDs
- Driver’s License
- SSS/GSIS ID
- Senior Citizen’s Card
- Voter’s ID
- Government office ID
- Philhealth Card
- Professional Regulations Commission (PRC) ID
- Seaman’s Book
- OFW ID
- OWWA ID
- Police or NBI Clearance
4. Bank, Bank Account Name and Bank Account Number as specified on the CAIF
It would be better if you have a Metrobank account coupled with Metrobank Direct online banking so you can add more funds to your stock account via online transfer. It is more convenient and easier than any other method of adding funds.
What is the Minimum Amount required to open a FirstMetroSec account?
Opening an account requires you to make an initial deposit of P25,000 if you have no Metrobank account. On the other hand, if you have a Metrobank Direct account, there is no minimum deposit required to open an online trading account but you still need to fund your account to be able to buy stocks since it has zero balance.