Friday, January 30, 2015

COL Financial - Investing in the Stock Market

It was June 2012 I opened an account at COL Financial to invest in the stock market.


I opened for an individual account and here are the basic requirements:

1. Minimum cash/check deposit payable to CitisecOnline.com Inc. for the following accounts:
          • Regular Accounts - Php 25,000; and
          • Easy Investment Program Accounts - Php 5,000.
2. Photocopy of one (1) identity document issued by the Philippine Government e.g. passport,        driver’s license, SSS/GSIS ID, Professional Regulation Commission (PRC) ID, and Comelec Voter’s ID.   (Please present original for verification)
3. Two (2) copies of Specimen Signature Cards; and
4. Online Securities Trading Agreement duly signed.
I have my savings account which is Metrobank. I went to the branch of the bank in the city and enrolled my account for online banking. A bank employee will help you process because you have to fill-up some papers. For inquiries, it is better that you should ask them over the phone.

I guess it was a week that I was able to log-in for online banking. I deposited money on my savings account so that I could fund my COL Financial in just one click.

These are the three banks that you could transact COL Financial in front of your computer with internet connection. You have to enroll your account first for online banking.

  • Metrobank
  • Bank of the Philippine Islands
  • Banco de Oro

I invested my extra money there for it to grow for at least 3 to 5 years. Although some people are doing Cost Averaging Method (a blog post from Ready To Be Rich) which is:
What is Cost Averaging?
Cost averaging is an investment strategy which requires systematically purchasing securities at predetermined intervals and set limits over a long period of time.
As of the moment, I am not doing this method. I just put it there, log-in at COL Financial and monitor, then I'll just invest if I have another extra money. But doing this method is very nice especially when you religiously invest every month.

Investing in the stock market is a high risk. Take note that I use my extra money to invest.

So have you invested in the stock market?

6 comments:

  1. Nice to see you're investing in the stock market!

    ReplyDelete
    Replies
    1. hehe yes. i just put my extra money there so that I could not spend it. sad to say i can't invest every month but i will try when budget permits. daming binabayaran pa eh. hehe

      Delete
  2. Hi,
    I have a mutual fund at FAMI and I am thinking of opening also an account on CITISEC to start investing na in stock market but I have some questions though if it's fine.
    When you open a savings account in Metrobank did they require you to submit a TIN? And when funding CITISEC, is it necessary that your application will be approve first before you could fund it (PHP 5000)?
    Thanks
    Angelie
    http://angelierosegabijan.com/

    ReplyDelete
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