Few years ago, I always dream of having a retirement strategy through stock market investments but either I have no extra money to fund my investments or I have difficulty signing up for an online broker. Now that I’m already a home based programmer with some savings in the bank, I think I’m more than ready to burn some money in stocks.
Before, my goal for savings is to save my job by having enough money to buy a decent computer or laptop in case my current laptop dies. At some point, I’m able to upgrade my machine into a powerful desktop and now I’m not too worried about it breaking. This machine upgrade must continue every 3 years at least.
I don’t have the business skills (or maybe I didn’t discovered it yet) so I don’t have any other source of income aside from my programming job. With some money saved in the bank, I tried to revive my stock market dream by finding an online stock broker.
Before, I was referred by my colleague to COL Financial, however, I’m having difficulty of signing up due to the process of sending the requirements to them since I’m in the province.
My bank (Metrobank) has this online facility that I use for monitoring my transactions and also for paying bills. Aside from these features, it also has a section for Stock Market investments. I found out then that I could link it to First Metro Securities (an online broker/platform like COL Financial) to send and receive funds. This time, I’m decided to signup.
Opening a First Metro Sec account
For those who don’t have a Metrobank account, you can still join as there are other options available to fund your First Metro Sec account by either using a different bank or by other payment options like credit card.
For Metrobank account holders, there is no initial deposit required as it is waived by the company. You just need to provide some identification documents to upload. What I did is scan my driver’s license, then write my signature into a blank white paper, then compile them into a MS Word document. I also scanned my proof of billing document (in my case, a credit card bill) and submit it online in their registration form.
After 2 days, my account was approved. Then after a few tinkering with the website, I connected my Metrobank account into First Metro Sec via Metrobank Direct. I think it takes 1 day to take effect. After 1 day, I’m able to fund my account with 5,000.00 PHP from my bank.
I haven’t bought any stocks yet as I’m in the learning stage. I am able to hold my excitement and read some online resources instead. Here are some good resource that I used.
- Stock Basics by Investopedia – this is a must read
- First purchase in stock market by Omeng Tawid – this one will give you some good inspirations
- How to read stock market charts by Wealth Hacks – if you are committed to learn this thing
- Introduction to Technical Analysis by Recognia – this is a must if you are using First Metro Sec
That’s it! Good luck for me next week. I heard there are some good news that will make a certain stock grow up!
Also, please join some Facebook group and try to learn from them. I have just re-joined Tsupitero.com.