After playing a few rounds of Cashflow 101, the Club members have a short round table discussion. Regardless of whether or not the players get out of the rat race , most of the questions fall under the category of stock trading. Specifically , how to get started in buying and selling stocks. I understand that for most of us the subject of stocks are a mystery. I've been clueless my self so a couple of years back I researched on the subject by going to the website of the Philippine Stock Exchange. (http://www.pse.com.ph/). After doing my research I decided to test the waters by opening a Stock Brokerage Account with BPI. So, for those Alabang Cashflow Club members who are interested in opening an account with BPI I hope that this step-by-step guide can be of help.
1. Open a BPI Savings Account – This will serve as the beneficiary account that will enable you to fund your stock purchases. It will also serve as the account from which you will withdraw your money when you decide to sell your stocks or when dividends are generated by your stocks this is the account where you can withdraw your money.
2. Go To http://www.bpitrade.com/ (easy)
3. Click the “open an account” link.
4. Click the “Individual account” link. (For purposes of simplicity lets choose this type of account. If your married ,You may opt to choose to open a joint account. )
5. Fill up the application Form page entirely. Make sure you remember to write down your nominated username and password because you will need this information to log in to your brokerage account every time you go online. Also , you will also be asked for your password to confirm your stock purchases and stock sales . Take note of your beneficiary account number which you will be required to fill in step three. Your beneficiary account number is the number at the back of your ATM card. Once you finish filling up ALL the fields …
6. CHECK, DOUBLE CHECK AND RECHECK THE INFORMATION.(in order to avoid unnecessary delays)
7. Click Submit and Print your Application form.
8. Bring your Application forms and necessary Identification Materials to a BPI branch.
9. Wait for your confirmation via your email. BPI will send the confirmation email to the email account you nominate in the Application form page .
10. Use your nominated Username and password to log in.
Take note that there are other on-line stockbrokers out there that you can check out such as CitisecOnline (http://www.citiseconline.com/) or First Metro Securities(http://www.firstmetrosec.com.ph/.). I only used BPI trade as an example because it is the broker I'm most familiar with. If anybody out there use other On-line brokers PLEASE do share your knowledge with us.
Happy Investing!!!!
Larry Buan
1. Open a BPI Savings Account – This will serve as the beneficiary account that will enable you to fund your stock purchases. It will also serve as the account from which you will withdraw your money when you decide to sell your stocks or when dividends are generated by your stocks this is the account where you can withdraw your money.
2. Go To http://www.bpitrade.com/ (easy)
3. Click the “open an account” link.
4. Click the “Individual account” link. (For purposes of simplicity lets choose this type of account. If your married ,You may opt to choose to open a joint account. )
5. Fill up the application Form page entirely. Make sure you remember to write down your nominated username and password because you will need this information to log in to your brokerage account every time you go online. Also , you will also be asked for your password to confirm your stock purchases and stock sales . Take note of your beneficiary account number which you will be required to fill in step three. Your beneficiary account number is the number at the back of your ATM card. Once you finish filling up ALL the fields …
6. CHECK, DOUBLE CHECK AND RECHECK THE INFORMATION.(in order to avoid unnecessary delays)
7. Click Submit and Print your Application form.
8. Bring your Application forms and necessary Identification Materials to a BPI branch.
9. Wait for your confirmation via your email. BPI will send the confirmation email to the email account you nominate in the Application form page .
10. Use your nominated Username and password to log in.
Take note that there are other on-line stockbrokers out there that you can check out such as CitisecOnline (http://www.citiseconline.com/) or First Metro Securities(http://www.firstmetrosec.com.ph/.). I only used BPI trade as an example because it is the broker I'm most familiar with. If anybody out there use other On-line brokers PLEASE do share your knowledge with us.
Happy Investing!!!!
Larry Buan
