How To Start Investing And Stocks Trading With BPI Trade
BPI TRADE is the online stock trading platform of BPI Securities, which allows you to buy and sell shares of Phillippine Stock Exchange-listed companies. The online portal also allows you to check real-time stock market quotes and access comprehensive research and highly efficient portfolio management at the click of a button.
If you’re looking to dip your toes into this world of stock trading and have your share of pie directly from the country’s economy, this is one of the best places to start!
How to open a BPI Trade account
- Visit https://www.bpitrade.com/ and click “open an account”.
- Fill up the application form. Once you’re done, download and print the form.
- Go to the nearest BPI or BPI Family Savings Bank with the duly accomplished application form printed out and bring one valid ID.
- Your account will be approved within three to five banking days, and BPI will send you an email with instructions on how to fund your BPI Trade Settlement Account.
- Fund your account to start trading.
What are the requirements to open a BPI Trade account?
- Signed BPI Trade Client Account Information Form
- Additional W9 Form if you are a US Citizen
- Any one (1) of the valid government-issued ID 4. An existing BPI or BPI Family Savings Account
Do note that the BPI Securities may secure additional requirements such as proof of financial capability, source of income, and the like prior to the approval of account opening.
Supporting documents based on the declared source of income are as follows:
- Employment/Salary: Certificate of Employment/ITR/Latest Payslip
- Business: Business Permit/Latest AFS 3.
- Remittances: Bank Statement/Remittance Slip for three (3) months
- Pension/Retirement: Senior Citizen ID/Bank Statement
- Investment/Savings: Statement of Account (SOA) or Certification from your existing Broker/Bank Statement
Funding your account
There are three ways for you to add funds to your BPI Trade Settlement Account; the first step however is through their website. All you need to have is your settlement account number and your funds.
On your dashboard, go to the main tab > account information > profile tab
Once you have everything you need, here’s what you need to do:
BPI Expressonline (Website and App)
Enroll your BPI Trade settlement account as a savings account in your BPI express online account. After it’s approved, you can then transfer funds between your settlement account from your other BPI deposit accounts easily and conveniently.
Over-the-counter
Go to any BPI bank branch and deposit your funds to your settlement account through the bank teller.
ATM
- Enroll your settlement account under your BPI account online.
- Call 89-100 to inform the CSR that you want to transfer funds to your settlement account from your other accounts. Go to a BPI ATM and do a funds transfer to your settlement account.
If you deposited money before 10 PM on a banking day, you’ll see your money on the next trading day. If you deposited money after 10 PM on any day after two banking days.
What is the minimum investment required to open an account?
There is no minimum investment required to open a BPI Trade account. However, before you can purchase any shares or stocks, you must first deposit funds into your BPI Trade Settlement Account. Your SETA will be debited or credited depending on the amount of your transaction/s.
How to buy stocks?
- Log in to your BPI Trade account
- Go to Main > Subscriptions
- Click “View” on the selected offering or stocks you wish to subscribe or buy to.
- Select “I/We will avail” then type in the number of shares you want to buy.
- The system will compute the total amount in peso for the stock.
- Tick the “I/We Agree” box and hit the submit button.
- A summary of your order will be shown, review it before clicking the confirm button.
On your BPI Trade dashboard, go to your portfolio page. Your stock positions are automatically created once you start buying and selling stocks.
A buy order will be credited to your stock position only when matched. Meanwhile, a sell order will be deducted from your stock position regardless if it is matched or not. Your stock position is computed at average cost, including commissions and fees.
Selling stocks follow a clearing period. It will only be available for withdrawal from your BPI Trade account after three days following the transaction date.
How to withdraw funds from your BPI Trade account?
Withdrawing your funds is very straightforward and easy. Simply log in to your account and click the withdrawal link found in your account information tab, then choose the beneficiary/receiving account if you have multiple deposit accounts from BPI.
Withdrawing funds from your BPI Trade account can only be done through your online account. Over the counter, ATM, or other means are not possible. Also, BPI Trade will only allow the transfer from your BPI Trade account to your nominated beneficiary account which can be a BPI or BPI Family Bank deposit account.
While the withdrawal is easy, there are crucial things to remember though to set your expectations properly on when you can receive your funds.
- If you made a withdrawal request before 10 AM on a trading day, the amount will be credited between 3-6 PM on the same trading day.
- If you made a withdrawal request after 10 AM, the amount will be credited the next trading day, between 3-6 PM.
- If your beneficiary account is a BPI Family Bank deposit account, the same 10 AM cut-off rule applies except for withdrawal requests made before the cut-off, the crediting is three tradings days after the approval of the request and for withdrawal requests made after the cut-off, the crediting is four trading days after the approval of the request.
Leave your comment