Regular (25k) vs EIP (5k) Opening Accounts of CitisecOnline – What’s the difference?

Last updated on August 17th, 2014

(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.

 

How to Open an Account in COL Financial or CitiseconlineHow to Open an Account in COL Financial or Citiseconline

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:

The EIP is a beginner’s account that uses an investment strategy called peso-cost-averaging. We offer an EIP scheduling program to help you invest for the long-term. The 25k regular account is a start-up for people who wish to regularly trade the stock market for the short-term.”

In another answer to the same question, Sir Aya added:

In theory, if you open a Regular account, you are going to trade actively. That figure sort of ensures you can buy 2 to 3 issues so that you can actually trade. Otherwise, it would make more sense to open a 5k EIP account.”

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.
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