(If you want a quick guide for beginners how to start investing in the Philippine stock market, you can download your free ebook here.)
Placing a buy/sell order in Philippines is super easy with online stockbrokers. With just a few clicks, you can already buy your first stock.
With COL Financial online stockbroker, you are guided in their three-step wizard process in placing your buy and sell orders. Other online stockbrokers like BPI Trade, Philstocks and FirstMetroSec may have different screen but the concept is the same.
Simply log-on to COL Financial site and click on TRADE, then ENTER ORDER.
You will then be brought to a blank order screen.
In COL Financial, a green screen means you’re making a buy order. If you select the sell indicator, the color converts to RED.
STEP 1: First is you enter data in the order screen.
You can read this blog to guide you while putting data at this stage.
Say I want to ride on the rise of consumer spending in the Philippines, so I decide to buy 100 shares of SM Prime Holdings, Inc. and trust the team of the richest Filipino Henry Sy in growing the company.
I put in SMPH as stock code, 100 as volume and buying price as 12 pesos.
You will know the net price of your order at this point.
The system will then check if this is a valid order (Read this blog on how to make a valid order).
The system won’t also allow you to proceed as long as you have an invalid order.
STEP 2: Once you have a valid order, enter your trading password and click PLACE BUY/SELL ORDER.
After this stage, your buy/sell order has already entered the list of outstanding orders in the Philippine Stock Exchange waiting for order execution, which leads us to Step 3.
In STEP 3 – Order Confirmation, you see the summary of your order. There are also links you can click on if you want to view the status of your order or place another order.
At any time though, you can check on the status of your order by clicking on TRADE –> VIEW/ MODIFY ORDER.
Once it’s successfully matched (full or partial), you’ll receive a confirmation invoice in your email showing the summary of your matched order within the next 24 hours. See below sample confirmation ( i just put some stars HAHA!)
This is too easy
I know this is quite an obvious process, but the main reason why I included this idiot’s guide is really to answer those who are still not investing in the Philippine Stock Market because they seem stuck in their first doubts. And because they’re confused , they don’t act.
One of the most common questions I receive whenever I talk about it with other people is how exactly one puts buy/sell order with online stockbrokers. They have the answer now here!
Share to your friends who also have the same inquiry!
Have fun investing!
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