Let us once again try to break the impression that the stock market is an investment instrument only the rich can afford.
Opening a Stock Brokerage Account with Zero Initial Cash Out
A few weeks back, I was playing around with my newly opened Metrobank Direct account (the Internet Banking service of Metrobank). As I was exploring, I managed to open the page for Managing Stock Trading Funds. And then, I found out these few steps that would help you open your account in First Metro Securities (the Stock Brokerage of the Metrobank group) with no Initial Investment required.
- Download and properly accomplish the following forms/requirements:
- Customer Account Information Form
- Specimen Signature Card
- Trading Agreement Form
- Attach photocopies of two valid government-issued IDs
- Submit the requirements to First Metro Securities Brokerage Corporation (FMSBC) listed below, or to the nearest Metrobank branch – they’ll be the one to forward your documents to FMSBCFirst Metro Securities Brokerage Corporation (www.firstmetrosec.com.ph)18/F PSBank Center
777 Paseo de Roxas cor. Sedeno St.,
Makati CityFirst Metro Binondo Investors Center
G/F Wellington Bldg.
Plaza Lorenzo Ruiz,
Binondo, ManilaFirst Metro Cebu Investors Center
Metrobank (Cebu) Plaza,
Osmena Blvd., Near Rotondo
Cebu City, Cebu
Once received by FMSBC, you will be notified via email with your login credentials.
The required initial investment for clients with MetrobankDirect account is ZERO. However, for clients with no Metrobank account, the minimum initial investment is P25,000.00. Have no Metrobank Account? No sweat, just open an ATM account only for P2,000.00.
Opening an Account is one thing, investing is another.
Now that you have opened a brokerage account, it’s time to invest. One good thing about today’s retail stock investing is that the minimum order in buying a stock starts from P500.00 only, compared to when I first started that you need around 4k to 5k to make an order.
Still thinking that the stock market is just for the rich? Well, if you can easily spend P500.00 on something you don’t really need, investing it on something for your future hopefully change your mind.
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About Nick Raquel
Hi Nick,
How different is FMSBC from ColFinancial in terms of me investing on stocks? For someone with zero experience like me, which one is more preferred?
Thanks,
AV
Bro, it’s been a while since I used COL, siguro it was 5 years ago. Pero as far as I can remember, there’s really not much of a difference as to the platforms. Pero for convenience, FMSBC or even BPI trade is a good option.
Hi Nick,
Just wanna ask about FAMI’s calculation of MF management fees of 1.75% per year. Let say I invested Php50K on January 1,2013 & another Php50K on June30,2013 with a total of Php100K as of Dec31,2013, does the calculation of management fees at the end of the year is Php100k x 1.75%= Ph1,750 or (Php50K x 1.75% =Php875+(Php50K x 1.75% x 6/12months=Php 437.50)=Php1,312.50 (prorata basis)?
Thanks,
As far as I know, management fees are already integrated in the NAVPS. While sales loads are fees that are charged upfront – nakikita na idinededuct sa investments natin, ang management fees naman ay dineduct na (on a prorated basis) while computing the daily NAVPS.
hi nick, aside from opening an acct with metrobankdirect, what other bank could I use?
thanks.
For FAMI, you could use Metrobank and PSBank..
Hi sir Nick, im working in abroad as OFW,how do i start joining the mutual fund? and how much will be the minimum initial investment? what are the requirements?
Hi Antonio! The minimum initial investment varies from 5k to 10k. Please send me an email here http://mutualfundphilippines.com/contact-us/
hi nick!
by reading all your blogs about MF, i am ready to start NOW…
And that’s my accomplishment
happy investing darwin!
I learned a lot by reading there question and your answer,So my question ..The answer is already there….Thanks a lot.
Good day….nick..we hope we can invite you to do seminars with our team. SEAFARERS ENTRUSTMENT ASSOCIATION, INC” IT’S A NON PROFIT ORGANIZATION that shares same interest as you have. I am a graduate of RFP as well batch 14. Hope you can keep in touch with us.our FB webpage is seafarers entrustment association..we are looking forward for you very soon.
Morris Duane A. Avergonzado
sir tanong ko lang naka bili kasi ako ng 1000 shares ng Petron way back 1996 pa ngayon ay nabili na ng San Miguel ang Petron pano ko po kaya maibebenta yun gusto ko na kasing mabenta
how do i buy stocks then? can i have it deducted to my atm account? thanks
Hi Gian! That’s exactly how it will work.
From your metrobankdirect account, go to “Manage My Accounts”, then “Stock Trading Accounts”. From there, you can enroll your ATM account to link with your account in First Metro Securities Brokerage Corp (FMSBC).
When you’re ready to fund your account, still from your metrobankdirect account, go to “Manage Stock Trading Funds”. You can now transfer funds directly from metrobankdirect to your FMSBC account. Then you can start trading