Someone may have urged you to invest your money in stocks as the potential gains could be massive! It is true! I can attest to that as I am into trading since 2017. As a beginner, you may have been wondering what is the best online stock broker in the Philippines. I also asked that question when I started.
What are we looking for an online stock broker?
Ideally, we wanted an online stock broker with no or minimal downtime, fast execution of orders, premium features, great customer service, great mobile app, less brokerage charges, and, most importantly, a stock broker in the Philippines where the funds are secure. We don’t want our money to vanish in thin air, do we?
What is a stock broker?
A stock broker is an institution that provides services to connect investors – companies or individuals – with the stock exchange. They earn by imposing commission fees whenever an investor buys and sell shares.
Our stock exchange in the Philippines is called Philippine Stock Exchange or PSEI in short. It’s been operating since 1927.
Our main index for PSE comprises 30 listed companies like Jollibee, Ayala Corporation, BDO, SM Prime holdings, etc.
Which online stock broker should I open an account as a beginner?
For beginners, it would be best to open an account with COL Financial. They are the most popular local stock online trading platform here in the Philippines. Though their platform is really basic, it is still okay, considering that you are still new. You won’t be needing those premium features anyways like market depth and watch list.
Eventually, I would recommend you to go with AAA securities, especially if you are a trader! They have lots of premium features, and we will be discussing that in a different post.
List of the best online stock brokers
The brokers listed below are the ones that have the least commission fees and decent platforms; hence we call them the best online stock broker.
Initial Deposit: P1,000
COL Financial was founded in 1999 with a goal of low cost and easily accessible investing platform for Filipinos. Over the years, it has developed services for retail investors such as mutual funds, COL EIP and margin trading for accounts with over P200,000 portofolio balance.
Timson Securities Inc. was established in May 2013, and PBN Paribas is its successor broker. They offer powerful analytical tools to their users, be it retailers or institutions.
Initial deposit: P50,000
AAA Equities has been a brokerage since 1989, and it has the most innovative trading platform in the Philippines. For me, this is by far the best broker for traders.
Initial deposit: P25,000
The company was incorporated in 2000, and it is owned by Yapster e-Conglomerate, Inc. They pioneered the integration of financial planning, trading, and portfolio management in 2001.
Initial deposit: 5,000
Established in 1994 and for over 20 years, it has been a trusted provider of
equity brokering services and solutions for individuals, private and public companies, and other financial institutions. It is affiliated with Metrobank, which is one of the largest banks in the Philippines.
Initial Deposit: None
A joint venture between BDO Unibank Nomura holdings of Japan. Nomura is a leading financial services group with global reach and a leading investment bank based in Asia, and BDO is one of the largest banks in the Philippines. Note that you are required to have BDO savings account to buy stocks.
There are other online stock brokers in the Philippines, but I didn’t mention them as the above list should be enough.
Now that I have listed the best online stock brokers in the Philippines, you will need to choose the right one for you. Check their respective sites, read their about page, and open an account with them.
How about you? What’s the best online stock broker license in the Philippines? Leave your comments!