Differences Between COL Financial and Philstocks

I decided to write a review and a comparison 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.

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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.

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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.

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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.

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

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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.

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