(If you want a quick guide for beginners how to start investing in the Philippine stock market, you can download your free ebook here.)
COL Financial (formerly Citiseconline) offers two types of account – Regular (25k) and EIP (5k) Opening Accounts. So what are the differences between the two ?
When opening a stock trading account in Citiseconline (COL), one will notice the two options provided for potential investors.
It’s the 5k and the 25k minimum initial deposit.
In their site, the 5k is also called the EIP account, while the 25k is called the regular account.
You can access here a step-by-step tutorial how to open an account in COL Financial (for newbies & OFWs).
So what’s the difference between the two???
But before answering that question, let me first congratulate you for finally making that concrete step on working in your finances this year! The fact that you’re reading this only means you also want one day to start making money work for you, quite the opposite of the thinking of many entrapped in an “employee’s mentality” seemingly planning to work for money until they retire.
For that give yourself a pat on your shoulder! I’m pretty sure this is just a start of the avalanche of blessings to rush in your life. 🙂
Now back to the topic.
Here’s an answer I got from Aya working in the firm itself:
In another answer to the same question, Sir Aya added:
In short then, the 5k EIP account is for those who are really just beginners and are planning to invest for the long term. CitisecOnline has its recommended stocks for this EIP program available to its clients. As of this writing (Jan2012), they have 16 stocks in the recommended list – you can check it here. The 25k regular account on the other hand is for those willing to dedicate more time in their investments by trading and watching the market more actively.
The main difference then lies in the strategy offered by the accounts. The EIP is for those new folks looking for an investment program (leveraging on the power of peso-cost averaging); the 25k is for individuals who want to test their own trading system.
Note that while they have different initial amount of investment, both have the same online trading platform features. They are both investors after all, and thus be the case. That means trading functionalities and features available in one account are also present in the other. In fact, you can switch your strategy from one to another anytime during your investing career, or combine both. It’s really just a matter of clicks and ticks in their site.
If I may add, the 5k and 25k initial investment guideline is really not that strict. I actually put 10k initial investment when I opened my account with them. HAHA
What matters for now is to have it started and build-up your momentum in this kind of financial tool.
There you have it! May you have a fantastic investment this year!
Have fun investing!
oMeng
PS1: As you may already know, Sir Aya is the guy behind the phenomenal and practical TV show in GMA NEWSTV Channel 11 Pesos and Sense, sponsored by COL Financial/CitisecOnline, aiming to expand financial literacy among Filipinos around the globe. Currently they are now working to launch its second series. You can watch their first series episodes in YouTube. You’ll really learn a lot! 😀
PS2: After opening an account, the next step now is choosing what first stock to buy. You may want to take advantage of the TrulyRichClub system to guide you in all succeeding steps of the way. Receive regular stocks update for your investments, plus a lot of other materials for your financial education! To try it out, click here.
Download your free ebook – Bo Sanchez’ My Maid Invests in the Stock Market… and Why You Should, Too! [PDF].
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If I bought stocks earlier in market opening, then can I sell the same stocks later before market closing?
Pwede bo ba mag trade using a EIP account
Yes, pwede naman. You can do trading with any account.
if I will start with 5k..then add every month until became 25k,does my account automatically turn from col starter to col regular which is 25k??
Yes, upon reaching 25k capital, your account type will change from starter to regular.
And if it reaches 1M, then you will have the premium account type.
is the roi on the 5k and 25k account the same?
The ROI depends on the performance of the stock you bought, not on your account type.
Hi Sir,
Gusto ko sana mag EIP ang gagawin ko sa account ko. Nag try ako na mag Buy busing EIP but the cash basis. nag pomp out na dapat nasa board lot ako…. I select the one company i want to invest and the company has a boardlot of 100, then i will try to invest but something has been say that the boardlot cannot excess. Please help and guide for this…. I am a beginner.
Sir ask ko lang bakit ako na debited ng 5k nung nag order ako pinili ko equity sana matulungan nyo ako sa problem ko.
Hi Apollo, sa mutual fund ba ito?
Minimum ang 5k for initial order for mutual fund.
Hi, can anyone tell me how long does it takes to have an account with COL for applicant here in Singapore? Thank you so much for the reply,. God Bless!
@Jarsh, it should take only 3-5 days after they receive your application.