I’ve been investing the stock market for since August 2016 and I wanted to share with you the steps I did when I finally decided to be financially independent. Before investing I want every one to know that the stock market is a very risky investment –but to tell you honestly all types of investment are risky, it just depends on your risk tolerance. I’ve learned about stock market investing when I was in college. Then, I didn’t have the gut to invest in the stock market or into anything not because I wasn’t educated but because every time I tell my mother or father that I wanted to invest in the stock market, all I hear is the negativity. So I wasted the last ten years NOT INVESTING. Word of caution–> Listen to your heart. Invest in your financial education. Choose an investment. Invest. Wait for your profit. If you are already making your own money, you decide where should it go. Do not listen to any one else but yourself. I did the other way around and more than 10 years later, I can say that I don’t have any investment at all. So now I will tell you NOT TO FOLLOW the things I did 10 years ago. If I could just turn back time, I would. If I can go to the moment I read “My maid invests in the stock market.” and decided to start investing, I would. But I could not turn back time. I could not make JFC at Php10’s again. What I could do now is to focus on investing more money and focus on teaching my kids on how to invest their money (whether its a gift or in the future from their salary), I would teach them not to put every thing in the bank and that emergency funds and health insurance are as important as the food we eat, the water we drink and the roof under us. I will share more of my financial stories along the way. For now I will teach you the steps I did when I opened my COL FINANCIAL account.
COL Financial or previously Citiseconline is the first online stock broker in the Philippines. I chose the company as per Brother Bo Sanchez’ recommendation and as per recommendation by my cousin (who has been investing since she graduated college). I tried their 7 day trial but didn’t do the trading that much because those months I was busy and I didn’t have much time to be online. Anyhow, you can try it first before signing an account with them. At the end of the trial you will receive an email if you want to proceed or not. You can read more about COL Financial here.
- First and foremost read their “NEW TO INVESTING” tab. It’ll give you lots of ideas on what is the stock market, how to make money from it, why you should invest and the 4 golden rules. The golden rules is a MUST READ and you should live by it every time you invest, whether you’ll invest in the stock market, FOREX, real state, etc. The GOLDEN RULES are: Invest EARLY, Invest REGULARLY, Invest LONG TERM and Invest using DIVERSIFICATION.
- Educate yourself. Read books. Join forums and Facebook groups.
- Choose your account type. For newbies I recommend the COL Starter PLUS with a minimum investment of Php 5000.
- Prepare all required documents. This includes the COL application forms, valid IDs, etc.
- Send the documents to either of the addressed found here. Its also best to scan all the documents prior to sending to COL.
- Wait for at least one week for them to reply. Some may take up to two weeks to one month depending on your courier and your location. I sent mine from Saudi via air cargo and it was received by COL after more than one week.
- You will receive an email informing you that COL received your application and you are scheduled for an Skype interview. You are then required to send your Skype ID and your preferred date and time for the interview.
- Prepare all necessary documents during the Skype interview like valid IDs.
- Few days after the interview, you will receive an email with your COL account number and they will then ask you to deposit money in your account. You can more of how to deposit money or FUND YOUR ACCOUNT here. Its as easy as depositing money in the bank. I let my brother send money and he used BDO payment slip (Orange slip).
- After depositing you can scan or take a picture of the deposit slip and send it via email. They will then sent a confirmation email that they received the money deposited/funded in your account.
- The final email from COL will contain the “welcoming” remarks, your account number and the computer generated password. You need to change this password as soon as possible.
- Log in to your account and start investing.
NOTE: You will receive emails every time you change a password, every time you trade, etc.
Girl in Scrubsuits