I just have to write this blog.
It is because I've had occasions where I have been asked several times how to buy shares of stocks or how to open an account with a licensed broker in order to buy shares of stocks for investment or trading purposes.
Take note also that I am not a financial expert but I am just taking action so I can also fulfill my own dream of being financially free one day.
The following are the steps to open a brokerage account:
1. Decide which licensed brokerage company you would like to open an account with. Choices range from traditional brokers that you can call on the phone to execute your orders, to those that have online trading platforms. Since this is already the internet age, having an online platform is a great way to monitor your investments from home. Some of those that have online platforms are colfinancial, bpitrade, utrade and philstocks.ph. Others that I may not have mention, you can google it!
2. Download the application form and submit requirements. You can either download the application form (including the signature cards) or go to the nearest office of the broker of your choice. Rest assured you will be assisted with your application, (in my experience, their services are better than the banks or gov't sorry to say that). The usual requirements would be a photocopy of you 2 valid ID's and your TIN number. If you live further away, LBC will do.
3. Fund your account. When your application is once received, you will then get a call from one of the broker's representatives for account verification (2-3 days). Once your account has been verified, you can already start funding your account. You can do this by personally bringing your check or money to your broker's office, or you can remit your fund through the bank, just like you would when you deposit money. TIP: easier if you have a BPI express online account.
4. Buy shares of your preferred stock or company. Just simply choose a stock or company you think, or you believe will give you good returned for your money. Decide how many shares you'd like to buy, and for how long and you're good.
5. Monitor your investments. Investment experts have this adage, that if you buy growth stocks, or stocks with strong fundamentals can make you SLEEP WELL AT NIGHT. Though this may be true, it is always important to monitor your investments, by reading from the business section of the newspaper or from company disclosures found on PSE edge website.
There you have it! Five easy steps to start your financial freedom and this is just the first step. It would also do some good that while you're at it, attend some Fundamental and Technical Analysis Seminars. There are those that are free like the one that your broker offers. All you need to do is just register to get a slot, because believe it or not, the classes are usually full that you will need to wait for your schedule to come so you can attend.
There are seminars also that are offered for a fee. These classes are full of like minded people whom you can also make friends with and you can talk with while increasing your financial literacy and money.
Good Luck! and Happy Investing!
I posted my financial adventure like this here because I noticed that after the 2,000th mark, nobody reads my posts anyway. This article does not constitute a recommendation or an offer to sell or a solicitation to buy any financial product and stocks.I'm an independent trader and not affiliated to any financial institute (Not anymore). I encourage you to do independent research for your judgment with respect to the matter contained from this site. No liability whatsoever is accepted for any loss that may arise (whether direct or consequential) from any use of the information contained herein.