How To Open A First Metro Securities Online Trading Account?
Investment is a subject that Filipinos aren’t that accustomed to, which explains why only one percent of the population are venturing into the stock market. However, as digitalization gradually brings financial services closer to consumers, investment platforms have also become more accessible and easier to get into. Entering the stock market nowadays is no longer as intimidating and perplexing as it used to with the advent of online investment platforms and apps such as First Metro Securities.
First Metro Securities Brokerage is the investment banking arm of Metrobank and Trust Company. They provide suitable access to the listed securities in the Philippine Stock Exchange, partnered with timely and accurate market research, and incorporated with investor education programs to ensure that they bring the best performance on handling the accounts of their customers.
If you want to get your feet wet in the investment market, First Metro Securities is one of those apps that can help you get started.
How to open an account with First Metro Securities
First of all, First Metro Securities are only accessible to Metrobank account holders. This goes without saying that if you don’t have an account in Metrobank, you need to sign up for one before you can o
- Go to www.firstmetrosec.com.ph.
- Click “open account”
Registration is only accessible from 12:00MN to 2:00 PM on weekdays, except holidays, until further notice.
- You will be asked if you are a Metrobank account holder.
First Metro Sec account opening is temporarily limited to Metrobank account holders only.
- Choose your preferred account currency and account type – PHP or USD and Individual, Joint, or In-Trust-For.
- Completely fill out the form provided and ensure that the information you input is correct and accurate.
- You will receive an email with your Online Registration Application reference number and the link to verify your email and move on to the next step.
- You will then be redirected to the “Upload Documents” section. Do not skip this stage. Only applications with complete uploaded documents will be processed.
- After uploading all the documents needed, you have to wait for a confirmation email within the next five business days. If you manage to comply with all requirements, you will receive an email confirming your account’s activation. Otherwise, you will receive a reminder to complete the registration process.
What are the documents required for the First Metro Securities application?
During the registration process, you will be required to upload three specimen signatures together with some documents for identity verification
- Image files in JPG, PNG, or JPEG
- Microsoft Word files (DOC, DOCX)
- Max file size: 5 MB
Acceptable IDs for Metrobank account holders.
- Driver’s License
- SSS or GSIS Card
- PRC ID (front & back)
- Unified Multi-purpose ID
- Philhealth Card
- TIN Card
- Voter’s ID
- Senior Citizen ID
Acceptable documents for proof of address.
- Bank Statement
- Credit Card Statement
- Insurance Statement
- Electricity Bill (i.e. Meralco)
- Water Bill
- Telephone or Cellphone Bill
- Cable/Internet Bill
- Association Dues
- Remittance Receipt
- ID with address
Proof of bank account
- Teller-validated deposit slip
- Bank statement/certification
- Screenshot of online/mobile banking account
- ATM card with bank account number (ATMs with only the debit card# not accepted)
- Passbook showing your name and account number
- Your accountholder name matches with the name indicated in your FirstMetroSec application
- If it does, the name on the bank account will be followed for married/maiden name
- Joint First Metro Securities accounts require a joint bank account
- For In-Trust-For (ITF) accounts, the minor’s Metrobank Fun Savers/Spark account is accepted
Proof of self-employment/business (for self-employed and business owners only)
You can provide any of the following documents:
- DTI Certificate
- Business Permit
- BIR FORM 2303
Requirements for foreign account holders
- Local (Philippine) Bank Account (Metrobank)
- Philippine Tax Identification Number (TIN)
- Two valid/government issued IDs with clear signature (per account holder) with Alien Certificate of Registration (ACR Card) as one of the required IDs for foreign clients residing in the Philippines
- List of accounts maintained with other banks
- Source of funds of each account holder.
- US Person / Residing in US – Foreign Account Tax Compliance Act (FATCA) and Enhanced Due Diligence. Email firstname.lastname@example.org to obtain these forms.
- Non-US Person – *Enhanced Due Diligence
Initial balance requirement and how to deposit your initial funds
Once your account has been approved, you will be required to deposit a certain amount of money into the account so that you can start trading.
For a PHP account, you are required to deposit at least ₱5,000.
For a USD account, you are required to deposit at least $100.
How to deposit the initial funds
1. Simply go to Metrobank and deposit over the counter or do a bank transfer from your bank account. Below are the particulars you need to do to accomplish the transaction.
Account Name: FIRST METRO SECURITIES BROKERAGE CORP Account Number: 174-7-174-51393-3 Amount: ₱5,000.00
Account Name: FIRST METRO SECURITIES BROKERAGE CORP
Account Number: 174-7-174-51393-3
Account Name: FIRST METRO SECURITIES BROKERAGE CORP Account Number: 174-174-2-174-00472-7 Amount: $100 2. Email the deposit slip to email@example.com together with the following documents.
Account Name: FIRST METRO SECURITIES BROKERAGE CORP
Account Number: 174-174-2-174-00472-7
2. Email the deposit slip to firstname.lastname@example.org together with the following documents.