All about CitisecOnline or COL Financial (Part 2)

[piglet24]

So, have decided to dip my toes in stocks and investment.  Medyo old na ang thread but backread a few pages.  I have a little money saved and wanted to try investing it. I've read that COL Financial is a good way to start for beginners especially those na wala masyadong earth sa investing.  Anyway, I have some few questions before proceeding:

- Do I really need just 5k to start?  And does that mean na every month I need to deposit the same amount?

- Is it ok if I choose to have my checque collected by someone else? Kasi when I inquired about the requirements, I mentioned that I no longer have a peso account bank, ang sabi I can opt for the checque to be collected instead of being deposited on my nominated bank.

- What stock should I go after first, for a newbie?

Thanks sa makakasagot.

[xtine]

^Sis, i suggest you read a book about investing first. 

For instance.. https://marvingermo.com/books/
or attend trader's lounge PH.

Kasi mapapaso ka if you will buy shares of certain stock without any goals or plans.  The stock you might think is a good investment, pwedeng bumaba pa ng bumaba, doon ka mapapaso.

Stock investing sounds good and promising pero pag wala tayo alam sa fundamentals and technical analysis, pwedeng one wrong move, bagsak ang investment natin.

Learn about support and resistance para maestablish mo when to buy and when to sell.   This will also help you cutloss (magbenta ng palugi) pag hindi na akma sa plano natin ang isang stock.

Points to think about:

1.  Learn to avoid asking what stocks to buy - kasi some people will hype a particular stock (they will tell you buy this - palugi pla yung stock), then once it has reached a lot of buyers at tumaas ang price, magbebenta sha leaving you with that paluging stock at an expensive price - eto yung hyping, they make a particular look good para lumaki ang demand and makapag sell sha at a given price.

2.  Ask your self what is your goal - pang retirement ba (10 years or more) or pang wedding (short term)?  in this way, maplan out mo kung ano ang stock ang maganda for your particular need. 

3.  Study support and resistance, plot excel sheet for your analysis and consult Trader's lounge PH sa FB. 

4.  Take a look at your emotions, hindi pwede emotions ang mag dedecide kung ano bibilhin mong stock kasi once bumaba nag price ng saglit, you need to ensure you are emotionally prepared kung mag negative ang portfolio mo. 

5.  Build a foundation like emergency fund (monthly salary x , life insurance, hospital insurance, etc.  This will ensure na kahit matalo ka sa stock market, hindi affected ang mga monthly expenses mo.  This will help you sleep soundly at night.  and take note: Ensure that the money you will use are extra money na pang "gamble" mo.

6.  If you are already knowledgeable, 8k php ang rule para macover ang commission ng brokers, taxes, etc.  Meaning, if you invest less than 5k, kelangan mo ibenta ang shares mo at a higher price para makabawi ka sa mga additional fees.

7.  Invest in index fund if you want to avoid any "tutok" sa stocks.  What I do is I invest if PSEI is mga 6k ish or below.

8.  If you can, fund your online broker ng any extra money you have everymonth.  Establish a schedule buy of a particular stock or index fund para kahit di mo icheck si COL, nakakabili ka ng stock on its prevailing price.  It will accumulate and over time, pwede mo na ibenta ang na accumulate mong shares.

Good luck.

[piglet24]

^ Thanks sis @xtine.  I'll take everything in consideration.  I have already been reading a lot of resources and comparisons.  I am leaning into applying for COL as it is convenient especially for those outside the country.  I just need to work out the bank details and all kasi I no longer have a Phil bank account.  About sa mga questions ko, do I need to do monthly deposits? or initial capital lang?  and how much pala ang brokerage fee every time you trade.  Kasi dito sa Aus they charge 1% or AUD 8 per transaction.  Tapos kung wala naman activity for 12 months they also charge around $50. 

I'm thinking short term lang muna. And I will be using extra money.  Hindi yung pang mga pang essential funding.

Thanks again.

[xtine]

^Hello sis, there are commissions pag COL everytime you buy and sell. 

For Buying and Selling:
Commission                           0.25%   Of the gross trade amount
Value Added Tax (VAT)   12%   Of comission
Philippine Stock Exchange Transaction Fee
(PSE Trans Fee)                    0.005%   Of the gross trade amount
Securities Clearing Corporation of The Philippines Fee
(SCCP)                                    0.01%   Of the gross trade amount

Additional Fee for Selling
Sales Tax   No. of Shares X Price X 0.006

https://www.colfinancial.com/ape/final2/home/faq.asp

That's why there's a 8k rule para maoffset yung charges.

Btw, i am based in SG but fortunately, I still have my BPI bank account.  What you can do is use remittance.  For instance, I can do fund remittance from my SG bank account directly to the PH bank account of COL.  For AU, you can try transferwise baka it will work.

[piglet24]

^ Hey thanks again!

That's what I needed to know.  Malaki din pala ang charge nila sa brokerage.  But thank you for breaking it down.  I agree, hindi practical ang 5k na initial funding because of the other charges.

I will check transferwise.  Naghahanap nga ako ng iremit kasi yun yung naka lagay sa COL na website if you don't have a local bank account.  Tapos parang andaming iremit na website.  I have to check which one is legit. 

Thanks ulit.  Yun yung last step ko sa requirements, just to be sure which channel I could send the money.

[bzbee]

Hello! im looking into investing in equity index fund as a long term investment. is it advisable to start with COL? to be clear, im not interested in investing sa stocks, at least not in the near future. but with COL kasi i have access to more mutual funds with just one application, rather than applying directly to each company. did i get that right? still doing more research especially about fees. but any input from here is very much appreciated