Differences Between COL and Philstocks





I decided to write about the differences between COL and Philstocks to help people who are shopping around for the best stock broker in town. If you’re wondering why I chose to compare these two, it is because I have an account with them.

One of the good things that you’ll hear about Philstocks is its fast speed. Day traders like speed, and you’ll find that a lot of them use Philstocks. When good news or bad news comes out, a day trader wants to be properly positioned to be able to make his trade profitable.

READ: A Guide on How to Start Saving Money

Personally, what I love about Philstocks is that they allow you to withdraw money from your account without signing any forms. I’ve always hated the fact that I’d have to fill up forms and scan them every time I make a withdrawal from my COL account. When I emailed COL about this, they just said that it is a security feature that they have to prevent unauthorized withdrawals. If you ask me, they probably just don’t want to invest money in upgrading their software.

What I like about COL is that they provide you with information such as which stocks to invest in. This makes COL very attractive to beginner stock investors. COL also makes available to their clients shares of a company that is undergoing an IPO (initial public offering); this is something that Philstocks doesn’t do.

COL does not automatically email you a statement of account every month while Philstocks does.

READ: A Simple Retirement Plan for Young Filipinos

Most of the times though I find myself using COL because I like its interface that is user-friendly, and I also like the fact that I can fund my COL account *without any charges through my BPI Express Online account. While this method of funding is also available with Philstocks, it is not free of charge.

READ: The Different Kinds of UITFs and How to Choose the Best UITF For You

*Update: As of January 15, 2016, COL is already charging fees for transferring funds to your account. More details here.

21 comments:

  1. hi jerome, from the time you have successfully created a request for a fund withdrawal. How long does it take for the money to reflect into your bank account from the time you made the request?
    Thank You,
    Justin

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  2. Hi Justin. In my experience, it just takes 1-3 business days for the amount to reflect on my bank account.

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  3. Hi Jerome. I planning to open an account in Philstock. I would like to know if they are offering free seminar for newbie like COL. I wanted also to know how much is the bank charges on the average when funding or withdrawing an account to Philstock. Thanks in advance.

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  4. Hi Joel. I'm not sure about the other payment methods but through BPI Express, they charge 25 pesos every time you make a deposit. As far as withdrawals are concerned, there are no fees through BPI Express.You may also check out their FAQ: https://www.philstocks.ph/Public/FAQ.aspx

    Philstocks does not offer free training. Anyway, you may attend the COL's free training and not open an account with them.

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  5. Hi Jerome, can you tell the difference of the charting tools for both platform?

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  6. Sorry, but I can't. :-(

    I don't use the charting tools. :-(

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  7. Hi Jerome,

    Regarding withdrawing money, do Philstocks specifically requires to open a bank account with BDO/BPI that would serve as settlement account?


    Thanks.

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  8. Hi clintox77,

    I believe that you can use whatever bank you want. :-)

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  9. Hi Jerome. I would like to ask about the email that they send. They said to include the client name and username What should i put? My complete name? Thank you

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  10. Hi. Are you referring to Philstocks? Username is whatever username you want to use to access your account and Client name is your complete name.

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  11. in col, you need to wait 3 business days after selling your position before you can withdraw your money. how about in philstocks?

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  12. Hi. i don't think that you have to wait for 3 days after selling stocks before you can withdraw money in COL and Philstocks.

    There is a waiting time though after submitting your withdrawal request for the money to appear in your bank account.

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  13. HI Jerome. If you want to withdraw funds from philstocks and yo will choose deposit to bank account. What is Trading pin? below the Amount and above the Submit button.



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  14. Trading PIn is the 4 digit PIN which you use to execute BUY and SELL orders. It is different from the password. Hope this helps.

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  15. I have been using Col for 2 years now.. I have to say.. if you are a position trader or a long term investor, Col is fine. But one you start to engage more in swing trading or God even day trading... You will curse Col for their slow performance. I am shopping around for a new company now. I'll soon just leave 5k to my Col account.

    About Col offering IPO's to their clients.. It is true they do that.. But most often you do not even receive allocation. If you ever get an allocation... It is almost definite that you will just get the minimum. You only get scraps when it comes to IPO's. Might as well you do an OTC if you really believe in investing on an up and coming IPO.

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  16. Hello Jerome,

    I would like to ask, what are the requirements in opening an account to Philstocks for OFW's like me? Thank you and GOD BLESS!

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  17. Hello Jerome,

    I would like to ask, what are the requirements in opening an account to Philstocks for OFW's? Hoping for your favorable response. GODSPEED!

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  18. The last I heard you now need to be physically present when opening an account. I suggest that you verify this with Philstocks directly.

    This link has the answer to your question :)

    http://portal.philstocks.ph/frequently-asked-questions/

    To open an account with Philstocks, simply follow these 3 steps:
    Register online at www.philstocks.ph.
    Check your email. We will send you the Customer Account Information Form (CAIF) and signature cards.
    Download and print the CAIF and signature cards. Fill-out the CAIF and sign the signature cards. Submit the CAIF and signature cards together with:
    2 Primary Ids OR 1 Primary Id and 2 Secondary Ids
    Primary IDs: Passport, SSS ID,TIN ID,PRC ID (or Professional ID),Driver’s license
    For Foreigners with permanent residency in the Philippines: Foreign Driver’s License, together with Alien Certificate of Registration (ACR)
    For any person with permanent residency outside of the Philippines: Passport or Driver’s License, together with Certificate of Residency in the country/state he lives in.
    Secondary IDs: Postal ID, Senior citizen card, Credit card, ATM card, Company ID (current employer), Student ID (current school year), Club Membership, Voter’s ID
    You may also visit our head office or any of our branches for Over-the-Counter registration.

    Bring all the requirements (CAIF, signature cards and valid IDs) to our Head Office or Branch nearest you.
    Head Office: G/F, East Tower, Phil. Stock Exchange Centre, Pasig City
    Binondo Branch: G/F MBTC Downtown Center, Tytana Plaza, Lorenzo Ruiz, Binondo, Manila

    Deposit an initial investment for as low as Php 5,000.00.
    Via Bancnet/Megalink thru Weepay Online Payment
    Via BPI/BDO over-the-counter deposit
    Via over-the-counter payment to any Philstocks Financial, Inc. branches
    Via BPI Bills Payment
    Via BPI/BDO Mobile App
    Via wire transfer or remittance

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  19. Hi sir jerome, I'm 18 and I want to know if pwede na ko magopen ng account sa philstocks?

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  20. Hi Camille. I believe 18 years old is the minimum age requirement to open an account. You can also contact them directly to verify this.

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  21. Hi! How can i transfer from one broker to Philstokcs.

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