Getting started in online stock trading and investing is not that difficult at all. Here are the suggested steps:
- Choose an online stock broker: BPI Securities Corporation
- Open the required settlement or beneficiary bank account for your trading activities: BPI Savings or Checking Account
- Apply for an online stock trading account: BPI Trade
- Put funds into your trading bank account: BPI Express Online
- Make your first online stock trading transaction: BUY Ayala Corporation (AC) shares
Step 1: Choose a stockbroker
The first step, according to the Philippine Stock Exchange (PSE) investing procedures, is to choose your stockbroker. A broker is person who acts as intermediary between a buyer and seller, usually charging a commission. They must be registered with the exchange where the securities are traded. (You may click on the images to enlarge.)
- Online Brokers
Trading Participants may also be called "Members of the Philippine Stock Exchange, Inc." Online brokers are considered trading participants.
- BPI Securities Corporation & BPI Trade
This is a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI). In July 2000, the company launched "bpitrade.com", an on-line stock trading facility via internet or through wireless access protocol (WAP). "bpitrade.com" enables clients to view live stock market information, online buying and selling of stocks, access to research reports.
For stock transactions, BPI Trade charges a commission of 0.25% on the gross value of each trade, or a minimum commission of PhP 20.00.
Step Two: Open Settlement or Beneficiary Account
You will be required by BPI Trade to nominate a Settlement/Beneficiary Account. This can be a BPI savings or checking account that shall receive the withdrawals from your stock trading bank account: a BPI Direct savings account. You must also be one of the account holders of the nominated Settlement/Beneficiary Account.
- Settlement Account
Settlement Account means for BPI Trade Cash Client, the bank account with BPI/BPI Family Bank/BPI Direct designated by you, into which amounts you will withdraw from your BPITrade Bank Account will be credited.
- BPI Savings or Checking Account
- BPI Savings Account
Step Three: Apply for an Online Stock Trading Account
Now, after you have opened a savings or checking account with BPI or BPI Family Savings bank, you are ready to open you BPITrade account. Here's what you need to do next:
- Go to the BPITrade web site
- Apply Online
Simply click “Apply Now,” and then click “Apply Online”:
- Choose appropriate Online Application Form
There are two options for the online application form. Choose between an individual account or a joint account.
- Fill up the Online Application Form
Fill up the online application form with the required information. Prepare to nominate a user ID and password for your BPI Trade account.
- Print, Sign and Submit Forms
- Minimum investment required
- Monthly fees
ADB = (Day 1 ending balance + Day 2 ending balance +...+ last day of month ending balance) / No. of days in the month (i.e. 28/30/31 days)
- BPITrade Bank Account
- BPI Direct Savings Bank
- Cash Client
All incoming cash into a Cash Client’s account (e.g. sale proceeds, cash dividends, maturities, etc.) are credited to his BPITrade Bank Account.
You will need to make an initial deposit to your Settlement Account to open a BPITrade account. These funds are to be used in purchasing stocks, fixed income instruments, or mutual funds, and do not represent a balance requirement. You may also contribute your existing stock portfolio as your initial securities in your BPITrade account.
Step Four: Put funds into your BPITrade Bank Account
Once your account application has been approved, you will recieve via e-mail your BPITrade Bank Account Number. There are four (4) ways to fund your BPITrade Bank Account.
- Through the Branch : Go to any BPI Branch and make an Over-the-Counter deposit straight to your BPITrade Bank Account.
- Through Expressphone or the ATM : You can transfer funds into your BPITrade Bank Account from your BPI Account or BPI Family Savings Bank Account through these facilities. Enroll your BPITrade Bank Account by calling 89-100 or visiting your branch of account.
- Through www.bpiexpressonline.com : Enroll your BPITrade Bank Account in BPI Express Online and transfer funds from your other BPI, BPI Family Savings Bank or BPI Direct accounts. Click on “My Portfolio” and Enroll your BPITrade Bank Account as an Additional Savings Account. If you are not yet a BPI Express Online client, please go to the website and enroll now.
- Through Telegraphic Transfer from your bank, or through any overseas BPI Express Remittance Center (BPI SWIFT Address for Telegraphic Transfers: BOPIPHMM) .
Step five: Make Your First Online Stock Trading Transaction
Open the BPI Trade web site, log in to your BPI Trad account using your nominated User ID and password, check your available cash position, then proceed to make your first BUY order for Ayala Corporation common stock in board lots of 10 shares.
BPI Trade Settlement Account
BPI Trade Updated Fee Structure