Updated: January 14, 2020
Do you want to invest in the Philippine stock market? Or perhaps make money by trading stocks online? Then your first step is to open an account with a licensed trading participant.
A licensed trading participant refers to a stock broker that’s been granted trading rights and is a member of the Philippine Stock Exchange, Inc.
There are more than 100 stock brokers in the Philippines, but not all of them cater to retail investors and traders like us. And among those who do, there’s only a few that allows you to buy and sell stocks online.
Below is a list of online brokers in the Philippines, which you can open an account with. I recommend them because it will be easier for you to buy and sell stocks on your own.
Online Stock Brokers Philippines
AAA Southeast Equities, Inc.
AB Capital Securities, Inc.
Abacus Securities Corporation
AP Securities Incorporated (formerly Angping and Associates Securities, Inc.)
BA Securities Inc.
BDO Nomura Securities Inc. (formerly PCIB Securities, Inc.)
BPI Securities Corporation
Coherco Securities, Inc.
COL Financial Group, Inc.
DA Market Securities, Inc.
F. Yap Securities, Inc.
First Metro Securities Brokerage Corporation
HDI Securities, Inc.
Investors Securities, Inc.
JAKA Securities Corporation
Lucky Securities, Inc.
Maybank ATK Kim Eng Securities, Inc.
Meridian Securities Incorporated
Optimum Securities Corporation
PAPA Securities Corporation
PhilStocks Financial, Inc.
RCBC Securities, Inc.
Regina Captial Development Corporation
Timson Securities, Inc.
UCPB Securities, Inc.
Unicapital Securities, Inc.
VC Securities Corporation
Wealth Securities, Inc.
Choosing the Best Online Stock Broker
Which is the best online stock broker? That’s dependent on a lot of factors. For me, the most important criteria would be customer service.
How do you choose where to open an account? First, check their websites and see if you live or work near their office or branch. Because you’ll most likely need to visit them and send documents to their office.
Second, call or email their customer hotline and see which are helpful and responsive. You can also test their social media accounts, such as Facebook and Twitter, to check how fast they reply.
And lastly, with the remaining stock brokers on your list, solicit feedback from social media with regards to their platform, especially if you plan to trade.
You can join Facebook Groups of Philippine stock market investors and traders to get reviews and recommendations on your list.
Invest time and effort in choosing your stock broker, because you’ll be working with them in growing your portfolio for many years. Thus, it’s important to open an account with a broker that you like.
I have an account with COL Financial Group, Inc. and I’ve been with them since the early 2000s. During that time, when they were still called Citiseconline, they’re the most accessible to me among the very few options.
But now, you have numerous online stock brokers to choose from, and I encourage you to do your own due diligence to determine which one is best for you and your goals.
Online stock brokers will provide you with research and data that can help you make good choices on which to companies to buy in the stock market.
However, there’s no substitute to having your own strategy. And thus, it’s important to first learn and understand how the stock market works.
If you have zero knowledge about the stock market, then you can check out my curated articles on how to invest in the Philippine stock market.