1. First, you need to choose your account type, This will depend upon how much is your initial investment.
COL has 3 account types.
COL Starter has a minimum 5,000 pesos investment. This type of account already provides access to basic research reports.
COL Plus has a minimum investment of 25,000 pesos and is suitable for those who want to actively trade during trading hours. It provides streaming quotes which enable to see the current trade prices and has a more comprehensive research reports (like target buy / sell price, if the stock trend is up or down so you would know to buy or sell, dividend declaration, etc).
COL Premium has a minimum investment of 1 million pesos. The only main difference between a Plus and a Premium account is that there is a dedicated Relationship Manager in this type of account whom one can personally call and ask advice.
2. After you have chosen what kind of account you wish to have, it is time to fill up the Application Form. You can download the form for free on this link.
It is important to completely and correctly fill up the form to avoid delays. Note also that you will need a TIN Number. The reason for this is that COL is required to deduct the government taxes applicable to every trade transaction that you will make. Instead that you pay to the BIR directly, COL will do it for you automatically. YOU CANNOT OPEN AN ACCOUNT WITHOUT A TIN NUMBER. To apply for a tin number, please follow this directive from COL.
3. When you have completely filled up your application form, it is time to start preparing the additional requirements
*If you are a filipino citizen who is currently in the Philippines or staying abroad, you need to send a photocopy of 1 valid ID (passport, school ID, SSS ID, Driver’s license etc).
*If you are foreigner living in the Philippines, you need to send a photocopy of 1 valid government issued ID, an Alien Certificate of Registration / Work Permit from DOLE.
*If you are a foreigner and do not reside in the Philippines, you need to send a photocopy of one valid passport
4. When you have all these, it is time to submit them. There are two ways.
You can go to COL Financial Offices or any iRemit branches to personally submit the originally signed application form and the valid IDs. Or you can also send your document by post. After you send them by post, I encourage you to send a notifying email to COL Financial thru email@example.com to notify them tha you have sent an application. They will email you back to acknowledge or any further instructions to offer.
Here is a list of COL branches.
COL Business Center
2403B East Tower, PSE Centre,
Exchange Road, Ortigas Center,
Pasig City 1605, Philippines
(+632) 651 5888
COL Investor Center – Makati
Ground Floor, Citibank Tower,
Valero corner, Villar Streets,
Makati City 1227, Philippines
(+632) 478 2954
(+632) 478 3316
(+632) 478 3275
COL Investor Center – Davao
2nd Floor Robinsons Cybergate,
J.P. Laurel Ave., Bajada,
Davao City 8000, Philippines
(+6382) 287 8192
(+6382) 287 8193
(+6382) 287 8194
M-F, 8:30 am to 5:30 pm
For iRemit branches, please visit this link to locate which is nearest you.
Once the documents are received, you will receive a call from COL and schedule a video conference for information verification. However, when I applied I did not have a video conference with them but we just exchanged emails. I could actually say that the helpdesk from COL is active and replies to questions or help as I have personally experience from them.
5. Once your account is approved, you will be given your user ID and password to be able to log in to your account. It is now time to fund your account and start trading.
There are 4 ways to fund your account.
Online Bills Payment. If you bank with BPI, BDO, Metrobank or Asia United, you can just add Col Financial in your Bill payments list and you can then just easily transfer funds from your bank to your COL account. This used to be free however since 2016 the banks required a transaction fee. Fees vary from 4 – 10 pesos between banks so just kindly check with you bank.
Over the counter bills payment. Just get a payment slip from your bank. Write COL Financial Group in the Company Name field. In the Payment Details. Write your name and your COL Account Number.
Pay at COL Business Center by sending a check payable to COL Financial Group at this address 2403-B East Tower, PSE Centre
Exchange Road, Ortigas Center,
Pasig City, Philippines 1605
Overseas Remittance thru BDO and iRemit branches.
The one I use is online bills payment using my BPI account in the Philippines. I use Transferwise to transfer money from my Swiss bank account to BPI then bills payment transfer from BPI to COL. Transferwise is much better than iRemit, Paypal, Moneygram, Western Union etc because the exchange rate is very competitive (the best) and it has less charges so this is what I would recommend when you want to transfer money from one country to another. I will write an article about transferwise next time.
So I hope that I was able to help in case you would want to start trading in Philippine Stock Market. For any question please feel free to ask.