In my previous post, I discussed about the list of online stock brokers in the Philippines and the specific features and benefits you can get from them. In this article, I will do a review on one of the popular online stock brokers in the country, Philstocks, a stock brokerage by Accord Capital Equities Corporation (ACEC).
The number of people engaging in stock investing has been increasing in the previous years primarily because of increasing number of companies offering online stock brokerage. Compared in the past, opening an online stock account these days are easier and more convenient since you can do it online. I wish more and more Filipinos will consider investing in Philippine stocks in the years to come because it is one ways to help the Philippine economy.
Before the introduction of online stock brokerage, investors use traditional broker wherein they need to call when buying or selling of stocks. This method is somewhat time consuming and create hassles for the investor unlike what online stock account is offering.
Features and Benefits of Philstocks
I encountered Philstocks two years ago when I’m researching for other alternatives to CitisecOnline and BPITrade. Actually, I attempted to open first a BPI Trade stock account but surprisingly, the BPI bank employee that supposed to assist me didn’t know what is BPI Trade so I end up opening an account at CitisecOnline.
I didn’t choose Philstocks at that time because I cannot find the requirements and procedures on how to open an account on their website. Their site didn’t impress me and lacking valuable information about the company and features of the online stock account. However, when I checked again their site lately, it is better and there lots of data that you can get.
One good thing I noticed about the change is they are offering a 7-day free trial for their online stock trading platform for those people who want to know and experience how to use their software. If you are looking and studying which broker to choose, maybe you can try first their free trial to give you an experience on how it looks like.
Philstocks Live is the online stock trading platform that provides it clients with the best tools for making stock trading easy and convenient for the user. It has a real-time data streaming coming from PSE with anytime order posting. It has also 24×7 customer service that helps and assists customers of any problems they may have.
Accessing your stock account is also easy since you can do it anywhere and anytime as long as you have Internet connection. You may also buy or sell stocks using smart phones and tablets and study the latest market research through your account.
How to Open a Philstocks Account
There are two possible methods to open an account at Philstocks: online application and over-the-counter (OTC) registration. In order to apply an account online, you must do the following procedures.
1. Visit www.philstocks.ph, find and click the Register Now button located on the right hand side of the home page and completely fill-out the online registration form. Open the email that will be sent to you by Philstocks and click on the verification link. After that, they will send a link of Customer Account Information Form (CAIF) and signature cards.
2. Download and print the CAIF and signature cards. You should fill-out the CAIF and sign the signature cards. After completing the forms, you must submit the CAIF and signature cards together with 2 Primary IDs or 1 Primary ID and 2 Secondary IDs through registered mail.
Primary IDs can be a Passport, SSS ID, TIN ID, PRC ID and Driver’s license. For secondary IDs, it can be a Senior citizen card, Credit card, ATM card, Company ID , Student ID , Club Membership Cards with photo and signature , Foreign driver’s license (for Foreigners), and Alien Certificate of Registration – ACR (for Foreigners).
Another way to open an account at Philstocks is by visiting their main office or any of their branches for over-the-counter application.
1. When opening an account via walk-in, you must bring all the requirements (CAIF, signature cards and valid identifications) to their main office or the branch nearest you. Its main office is located at G/F, East Tower, Philippine Stock Exchange Centre, Pasig City. You could also visit their Binondo branch at G/F MBTC Downtown Center, Tytana Plaza, Lorenzo Ruiz, Binondo, Manila.
Minimum Deposit Required to Open a Philstocks Account
The minimum investment required to open an account is Php 5,000 which you should deposit in cash or over-the-counter at Accord Capital Equities Corporation main office or branch during or after submission of forms and requirements. This initial investment is mandatory in order to open an account.
You can make your initial investment in cash or check OTC at ACEC main or branch office. If you are located far from Manila or outside the Philippines, you can deposit your initial investment as cash or check to any BDO branch nationwide. Check deposit should be cleared first before it will added to your stock balance account.