CitisecOnline / COLfinancial Stocks Trading

Out of the blue, I received an email from a Filipino colleague here in Singapore with a subject “PS: Wag nyo kong tularan… (Share lang)” and with an attach *.pdf file titled “stocks.pdf”.

My first impression was “This guy must have lost a lot of money in stocks and has warned us all”. And believe it or not, it always rings a bell every time I heard the word “stocks”. It feels like something inside you whispering to your ears to negate  everything about it.

Of course, I know a lot about stocks…. who’s not??? It’s very popular in the movie films like “Pursuit of Happiness by Will Smith” & the cutting-edge movie  “Limitless by Bradley Cooper” – A writer discovers a top-secret drug which bestows him with super human abilities and became rich because of stocks trading.

Seriously? I don’t really know anything about it except from movies I’ve watched. I told you, I hate it and my ears suddenly become deaf  whenever I heard the word stocks….

Due to my curiosity of what really happened to my colleague , I read the stocks.pdf and… VOILA!, everything was changed. The real title of this ebook was “My Maid Invests in the  Stock Market… And Why You Should , Too!”. This is actually an e-book from Bo Sanchez – #1 Bestselling Filipino Author of “Choose to be Wealthy”. A very short inspiring 29 pages book.

So, the next question is, What’s inside the book that changed me?

Well, (Page 19) Whenever people say, “The stock market is dangerous!”, they’re referring to TRADING in the stock market. Not INVESTING in the stock market. There’s a big difference.

Basically, the book encourages us to invest in the stock market, not trade. Here’s the basic difference: Trading is buying stocks and selling them within a day or a few days. Investing is buying stocks and selling them in six months or never!.

And so, I choose to Invest in stocks and hopefully become a millionaire when I reach 50’s. 😛

If you’re a first time investor in the stock market or an OFW, like me, who wants to invest in stocks, Citiseconline is highly recommended.

For OFW, How to Open an Account with Citiseconline guide. (You don’t have to worry about how to Open an account in Citiseconline/COLfinancial, the Account Officer will send you a detailed email on different ways to fund your account. So cheer up!)

4-Step Application Process
  1. Go to www.citiseconline.com and click on “Open An Account:
    • Download and print these documents:
      • Application Form
      • Trading Agreement
      • Signature Cards
  2. Fill-Out Application Form & Prepare Other Documents
    In the Application Form, be the “Primary Account Holder”. Let your parent, spouse, or child be your “Secondary Account Holder”.

    • Prepare ANY two (2) of the following:
      • Passport
      • Driver’s License
      • Birth Certificate
      • SSS ID (1999 credit card type only)
      • Company ID with photo (if employed by top 2500 corporations)
      • Major credit card with photo
      • Senior citizen’s ID
    • Prepare latest copy of ANY one of these in your or spouse’s name:
      • Current utility bills (electric, water, cellphone, phone)
      • Credit card statements
      • Club membership bills
      • Bank statements
    • NOTE: For non-resident Filipinos, get a copy of one’s proof of income certified by employer and all documents must be authenticated by the Philippine Embassy or Consulate.
    • NOTE: For non-Filipinos living in the Philippines, include a photocopy of current visa, alien certificate of registration (ACR) and proof of government permission to engage in business/employment; validity of work permit must be at least one year from its date of issue. 
  3. Send the Documents to Citiseconline thru Postal Service (OFW)
    • I strongly suggest you visit their office and give your documents personally so you can ask all the questions you want on how to operate the citiseconline website.OFW: Send your documents to the address below:
      CitisecOnline.com Inc. Business Center 2403-B East Tower, Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City, Philippines 1605
  4. Wait until a Customer Account Officer will Contact you thru e-Mail.
    • He/She will normally inform you if you lack any documents or not. In my case, I did not send 1 latest utility bill that matches my address in the Philippines (which I obviously don’t have since I am a OFW).  Rather, I end up sending my latest phone bill here in Singapore which is acceptable. 😀
  5.  Fund Your Account

    • Dont worry about this, the Account Officer will send you a detailed email on how to fund you COL account.
    • If you’re opening a regular account, the minimum amount to invest is P25,000. Note: This is the money you’ll buy Stocks with. But if you’re opening an EIP or Easy Investment Program, the minimum amount to invest is P5,000 only.

What’s Next? It’s Time To Buy Your First Stocks
Once you open an account in Citiseconline, you’ll receive an email from them, indicating your username and password. Please change your password immediately after logging in to www.colfinancial.com and click HOME -> Change Profile-> Edit on the Password field and follow the instructions thereafter.
Finished? The next thing to do is buy your first stocks.
If you have my Stocks Update Report, you can choose from my Recommended List. Remember, you can only buy or sell stocks from 9:30am to 12:00pm, from Monday to Friday. That’s when the Philippine Stock Market is open.
Here are the Steps:
  • Step 1: Click on “Trade/Portfolio” Tab
  • Step 2: Click an “Enter Order”
  • Step 3: Type in the “Stock Code” of the company you want to buy.
    • Example: Metrobank is MBT; Banco de Oro is BDO; Jollibee is JFC; and Ayala Land is ALI; etc. The List of Stock Codes is a click away.
  • Step 4: Type in the number of shares you want to buy.
    • Imagine you’re investing P5000 and you’re buying Ayala Land (ALI).
      Let’s say ALI’s current price is P18 a share
      So divide P5000 by P18, and you get 277 shares.
      But all these companies peg a “Board Lot”. You’ll find the Board Lot of ALI at the lower right hand corner of the webpage.
      ALI’s Board Lot is 100. So the most you can buy is 200 shares.
  • Step 5: Type in the price of the stock.
    • I suggest you look at the highest amount at the “Ask” column and type that peso figure in. So that your order gets done fast. Because you’re a medium-term or long-term investor, the cents won’t matter much to you.
  • Step 6: Click “Preview Order”
    • It’ll bring you to a page where you’ll review your order.
      Enter your password again, click “Place Order” and that’s it.