[Tutorial] How to open an online stock trading account in COL Financial (Citiseconline) – for OFWs  and newbies

[Tutorial] How to open an online stock trading account in COL Financial (Citiseconline) – for OFWs and newbies

(If you want a quick guide for beginners how to start investing in the Philippine stock market, you can download your free ebook here.)

How to open an online stock trading account in COL Financial (Citiseconline) – for OFWs  and newbies

How to open an online stock trading account in COL Financial (formerly Citiseconline) to start investing in the Philippine Stock Market is very simple and as easy as opening a regular bank account.

If you’re really just a beginner in the Philippine Stock Market and want to be an investor with COL Financial as you’re chosen broker partner, I summarized the steps below for you to open an online trading account in COL Financial and shared some next actions you can do as a new investor.


Online Trading with COL Financial

Online trading can give you the convenience of accessing your account through the internet wherever and whenever you want.

It affords investors like you a level of independence and controls not previously experienced through traditional or offline trading.

You can pick and choose stocks online that meet your personal financial goals.

You can buy and sell your stocks, access your financial portfolio, and read recommendations on which is good (or not) to buy all at the touch of a mouse.

As a COL customer, you will be able to benefit more from every trade with access to its superior online tools and functionalities with the lowest allowable commission rate in the industry at only 0.25% of the transaction value.

COL Financial also offers a host of online trading and information services, among which are:

· Automated order placement and execution via the internet

· Access to live quotes and other market statistics

· Online portfolio tracker

· Research materials and market commentaries

· Price charting program and Ticker system display

· The Virtual Tycoon – a simulated stock trading environment

On top of that, you can get customer support by calling 6-515-888 or writing to helpdesk@colfinancial.com.

And in cases wherein you have no access to the computer/internet, you may ask COL Financial to place an order for you.

Please note however that broker-assisted calls are charged 0.5% for commission and not 0.25%. Other charges will remain the same.

COL Financial 3 TYPES OF ONLINE TRADING PLATFORM

COL Starter – An entry-level account suitable for long term investing. Provides access to basic research reports, standard market information, and end-of-day charting data. Minimum investment: Php5,000.

COL Plus – For more FLEXIBLE Account good for the short term, medium-term and Long term. Provides streaming quotes, comprehensive research reports and live chart data with some customizable features. This is a strong-featured trading account catering to those needy of more research as well as faster data streaming. It has all the features of the COL Starter account with addition to some feature improvements like streaming data over your Quote page, Watch list, an expanded 6-pack, detailed broker information, more research, as well as Java Charts with live data. It also has usage of COL’s Easy Investment Program or EIP to schedule purchase orders for your favorite stocks. Minimum investment: Php25,000.

COL Premium – For the premier investor. Provides access to all available features and a personal relationship manager dedicated to assist you. Minimum investment: Php1,000,000.

3 Steps How  to Open an Account in COLF Financial

As a quick reference, summarized below are the steps you need to do to open an account in COL Financial:

 

STEP1
ACTIONS
Choose your account type :
COL Starter (minimum 5k investment)
COL Plus (minimum 25 investment)
COL Premium (minimum 1M investment)
DETAILS
Just base your selection on the initial investment you currently have.
In other words, is your investment capital at least 5k but less than 25k? Then choose COL Starter.Do you have 25k starting  amount you can invest? Then choose COL Plus.
Also you can start with COL Starter and once your money in your account reaches 25k, you will have the option to upgrade it to COL Plus online.
The differences are minimal so this is not really that important. Don’t dwell too much on this. 🙂
2Fill out the necessary forms.Duly fill out all forms.

  1. Customer Account Information Form (CAIF)
  2. Foreign Account Tax Compliance Act (FATCA)

Click HERE to download the latest forms.

3Prepare additional requirements:
Submit a photocopy of at least 1 valid ID issued by the Philippine Government
Any of these : (kindly sign twice the clear copy)
· Driver’s License
· PRC ID
· Passport with signature portion/Visa
· Postal ID
· SSS ID
· Voter’s ID· Company Id with Birth Certificate

*
[UPDATE as of July 2016 Billing statement is no longer a requirement.]

Proof of billing under your  name or parents name would be needed (no  later than three months past)
(Note: Address on the Signature Cards, OSTA and presented billing statement should be consistent)

Once completed, submit all forms to COL Business Center:
2403-B East Tower, PSE Centre
Exchange Road, Ortigas Center,
Pasig City, Philippines 1605*Once all requirements are received a sales officer will contact you via call or email to inform you of your COL Account No. and status of your application.

If a week after your submission, you still haven’t received any email update, email them at helpdesk@colfinancial.com.

Any of these: ( LATEST BILL no later than three months past )
· Utility Bill
· Credit Card bill
· Bank Statement
3
Fund your account
You do this once you receive an email that your application is approved.Minimum of P5,000 for EIP/COL Starter
Minimum of P25,000 for Regular/COL Plus
Funding Options1.Online Banking via Merchant Payment
a. Banco de Oro
b. Bank of the Philippine Islands
c. Metrobank. Asia United Bank
2. Over-the-Counter via Merchant Payment
a. Banco de Oro
b. Bank of the Philippine Islands
c. Metrobank3. You can also deposit your initial investment at their COL Business Center.
Below are the Important reminders:
  • It is required that the form must be submitted together with the FATCA form.
  • If it’s a Joint or account, both Account holder needs to sign the forms.
  • For the In Trust For (ITF) Account, if the Minor cannot sign yet, The Parent can sign for the Minor.
  • The OSTA form will stay with the client so they can keep it already.
  • Validity in complying additional requirements is within 3 months only upon submission, otherwise, they have to submit new set of forms and requirements again
  • Validity of funding the Account is within 3 months only upon approval, otherwise, they have to submit new set of forms and requirements again

Summary

All account openings should have the following:

  • Customer Account Information Form (CAIF)
  • FATCA form
  • Clients would only need to submit the CAIF and the FATCA for account opening. For Joint accounts, OSTA form will stay with the client.
  • Minimum deposit of COL PLUS – Php 25,000 / COL Starter – Php 5,000 / COL Premium – Php 1,000,000

*Note: Forms should be duly signed and properly filled out. No scanned or photocopy will be accepted. Erasures should have counter signatures or an amendment letter.

  1. Filipino – included OFWs & Self-Employed

Non Face to Face

  •  Photocopy of (2) valid Government issued ID by the Philippine Government

o Note: Photo & Signature is important

o Note: Check that the birthday should be the same on the form

o Note: All signature in all forms must be consistent with the ID submitted

*Substitute: A Philippine Gov’t paper or certificate with a Secondary ID with photo & signature

  • Billing Statement ([UPDATE as of July 2016] Billing statement is no longer a requirement.)

o Note: Lessee should still have a letter from the Lessor

o Note: If no bills under your Name, you may submit a copy of current bill under Parent’s or Sibling’s Name

o Note: Address must be consistent in all forms with the Proof of Billing submitted

  • TIN number

o Note: To verify TIN number, you may dial the BIR hotline number, (02) 981-8888

o Note: Apply for a TIN number, Please see this document. You may submit the 1st and 3rd page together with your complete requirements to the nearest BIR office.

You may send all the Forms and Requirements via courier to:

COL Financial Group, Inc. c/o Mabel Roque

2403-B East Tower, PSE Centre, Exchange Road,

Ortigas Center, Pasig City, 1605, Philippines

If you wish your documents to be picked-up for free via our messenger, please fill-out the details below:  Inform COL one day ahead of the pick-up date, Working days only (Monday to Friday, between 10 am to 5 pm).

  • Date of Pick-up:
  • Contact Person:
  • Mobile number:
  • Office Telephone number:
  • Company Name:
  • Complete Office address:

COL will send you email again once it receives it so to give you your Reference Number which you’ll use for  bills payment or remitting money for your Initial funding.

Some Notes

For the submission of the application form, it is a mandate from SEC that all forms must be original and signed.

Make sure signatures are consistent with those on IDs submitted and across all fields. Countersign any erasure.

Requirements such as the billing statements can be scanned sent via email however for application forms, they are treated as contracts between the investor and the stockbrokerage firm therefore they would really need the signed hard copy. The good thing is that this is a one-time procedure for account opening, the rest of your transactions can be online or via banks for your deposits.

TIN is required.

You may send the documents to COL Financial Business Center 2403-B East Tower PSE Centre, Exchange Road, Ortigas Center, Pasig City  1605 Philippines OR  call their office to have it scheduled for pick up if you are within Metro Manila area.

For the funding of the account, you will receive an email containing the instructions on how to fund your account via BDO, BPI, or Metrobank once your application is already approved.

That’s it.
It may appear long but the process is actually simple.

If you’ve downloaded the forms via the link above, you will see this my COL account number under Referred by:. I don’t get anything from it though.

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Frequently-Asked Questions

Q: Is there a fee in opening an account in COL Financial?

A: There is no transaction fee in opening an account. 100% of your deposits will be credited to your account for your investments.

Q: Do I need to attend a seminar first by COL Financial before opening an account?
A: No, you can open an account without attending any of COL Financial’s seminar. However, it’s good that you attend first one of their free seminars so you’ll have better understanding of what stocks investing is all about.

Q: I don’t have billing statements in my name. What can I do?
[UPDATE as of July 2016] Billing statement is no longer a requirement.

A: Regarding billing statement, other alternatives would be:
1) A valid government issued Id that has an address on it
2) Copy of your Contract Employment or Certificate of Employment
3) Any Billing statement under a relatives name as long as it has the same address on what is written on your application form
4) Any of your latest Bank Statement

If possible, email them first at helpdesk@colfinancial.com scanned copy of signed forms and requirements for them to check and review before sending it (via mail/LBC for example) to avoid delay.

Q:Anong bill po ba ang ipapasa ko kasi student pa po kasi ako. Wala pang bill na nakapangalan sakin.
A: Y
ou can present any billing statement with the same address in your application. Please note that it also has to be under someone who shares your surname.

Q: [For OFWs or those outside Metro Manila] How can I open an account if I can’t personally go to COL Financial’s office?
A: You can open your account online. Fill out the form and mail it to them (via LBC, etc) ensuring that you have a clear copy of your required IDs.  If possible, email them first at helpdesk@colfinancial.com scanned copy of signed forms and requirements for them to check and review before sending it to avoid delay.

Q: Im an OFW and I want to register in COL Financial. I don’t have any bank account. Is it really needed?
A: You can still open your COL Financial account without indicating your bank account since it is primarily required for withdrawal purposes. However you will need to update this information later on so you can do future fund withdrawals. 

COL Financial requires all its accountholders to have Philippine bank accounts with the same name as their COL account.  This is because the main purpose of the bank account is for fund withdrawals which are issued as a check under the customer’s name.  Thus, the check may only be deposited to a bank account of the same name. Hence, accountholders cannot use bank accounts which are not registered under their names

Q: Is there a minimum age for one to open an account in COL Financial?
A: The minimum age to open your own account is 18 years old.

Q: I plan to register my 7-year old daugher in COL EIP. What are the requirements? Is her presence needed during the registration process?
A: There’s no need for a personal appearance. Additional requirements for opening an  In-Trust-For-Account (ITF) can also be found here.

Q:How does a foreigner with no local bank account withdraw funds from his/her stock brokerage account?
A: COL Financial has partnered with iRemit so you can easily make your withdrawals and deposits by visiting any center near you.

Q: I have other questions not answered here. Can you help me?
A: You can send your question through my contact page and I’ll see to reply to you ASAP. If you want quick response, you can just put it in the comments below. 🙂
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Once your account is approved and you’re done funding it, you’re now ready to buy your first stock.

OTHER HELPFUL TUTORIALS

Easy Investing with Strategic Averaging Method
Philippine Stock Market Trading Hours
How to Withdraw your Investments

If you have other questions, just let me now in comments below or email maribel.roque@colfinancial.com

Have fun investing,

oMeng Tawid


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This Post Has 185 Comments

  1. ana

    sir what if you died on accident can your relatives get your outstanding balances in your account?

    1. Shampoo with conditoner

      NO.

    2. @ana, hndi na nila makukuha yon. kasi sayo lng yon eh. kaya mappunta na sa company yon. tpos sila na makikinabang,

  2. Jona

    Gud pm sir is it required to add on your investment monthly?or just the invested 5000k is enough..tnx alot

  3. Angelita

    Hi!

    I want to invest, but there is a problem in my surname. ang billing address nmin ay Bucado pero all my requirements are Bocado. Pwede ba yun?

  4. alian

    I am in UAE Can i apply for Stock Trading Account in Philippine? Please reply me

    1. Henry l. Espulgar

      Can i open a trding account even if i am a dual citizen

  5. Wendy.

    Hi, ask lang if ok lng ba yung id..ung first address q sa id is different sa current address q…lumipat na kasi aq..but most of my bills and bank statements are addressed to my current one..are my ids ok?

    1. hndi okay yan. promise. ganyan nangyari sakin. walang tama sa address ko. unang address ko sa manila, tpos pangalawa sa mindoro. pero nsa cebu tlga ako nakatira. ang hirap.

  6. Suleman

    Hello
    Sir i am in UAE, Can i apply for Stock Trading in Philippine? Please reply sir i am waiting your reply

  7. JAIRUS

    pano po mag oopen ng acct. jan gusto ko po sana masubukan kng ok yan for investment.

    thank you

  8. Z

    Sir what if yung current address ko po is different sa nkalagay sa id ko? Bgo npo kc ung number ng house namin pero same parin naman po yung house.

Got questions? Leave your comments below.