Yesterday, I received an email that my BPI Trade account has been activated - a day after I received an email confirming that the bank has received the documents which my Branch transmitted to them. (I should go and thank sir Vic again). Not bad - 10 days processing.
While waiting for my BPI Trade account to be enrolled in my existing BPI expressonline accounts (which will make funding the trade account much convenient), I will familiarize myself with the BPI Trade platform. Really, I can not wait. I even can trade in mutual funds and fixed income through the platform. Yay! So excited.
Here is a screen capture of my account.
Below is an excerpt of the email.
The excerpt:
Greetings from BPITrade!
Welcome to BPITrade. You can now Sign-In to www.bpitrade.com using your nominated user ID and password.
Your BPITrade Bank Account is now ready to receive your initial investment. Please deposit your initial investment to the BPITrade Bank Account that we have opened in your name. To view your BPITrade Bank Account Number, please logon and go to the "Portfolio" screen.
IMPORTANT: Please note that your initial investment will be the funds that you will use to purchase stocks,fixed income instruments, and mutual funds and DOES NOT represent a balance requirement. The monthly average daily balance (ADB) requirement for your BPITrade Bank Account is Php 500.00 to avoid the Php 150.00 standard service charge. This ADB requirement takes into account only the funds that are in your BPITrade Bank Account and excludes the funds that you have invested in Stocks, Government Securities and Mutual Funds. Funds in your BPITrade Bank Account earn 1.75% interest per annum. Deposits made to your BPITrade Bank account shall be reflected in your Cash Position in BPITrade the NEXT trading day.
There are four (4) ways to fund your BPITrade Bank Account.
> Through the Branch : Go to any BPI Branch and make an Over-the-Counter deposit straight to your BPITrade Bank Account Number.
> Through BPI Expressphone or the ATM : You can transfer funds into your BPITrade Bank Account from any of your BPI Deposit Accounts or BPI-Family Bank Deposit Accounts through these facilities. Enroll your BPI Trade Bank Account by calling 89-100 or visiting your branch of account.
> Through www.bpiexpressonline.com : Enroll your BPITrade Bank Account in BPI Express Online and transfer funds from your other BPI, BPI Family Bank or BPI Direct deposit accounts. Click on My Portfolio and Enroll your BPI Trade Bank Account as an Additional Savings Account. If you are not yet a BPI Express Online client, please go to the website and enroll now.
> Through Telegraphic Transfer from your bank, or through any BPI Express Remittance Center located outside of the Philippines ( BPI SWIFT Address for Telegraphic Transfers : BOPIPHMM) .
To take funds OUT from your BPITrade Bank Account, you would simply need to log-in to BPITrade, go to our Services Menu and fill-up our Withdrawal Request Form. We will then transfer the funds within the same day to your regular BPI/BFB Deposit Account which you nominated as your Beneficiary Account upon Application . Cut-off for this withdrawal request is 11:00am (Philippine time, GMT +8).
If you would like to deposit stock certificates or transfer your existing stock position from another broker, please send us an e-mail at bpitrade@bpi.com.ph and we shall gladly send you instructions on how to do so.
Should you have any further queries, comments, or suggestions, please feel free to get in touch with us through the aforementioned e-mail address.
Thank you for choosing BPITrade.
Very truly yours,
Maleen S. Feliciano
BPI Trade Online Team
9 comments:
Chill...
Right move...
I googled BPI Trade to explore more on the subject, and it led me through your blog...
I too, thinking of diverting my minimal fund sleeping on my BPI Direct account through BPI Trade, and it's not bad idea at all of trying it, as in my case, while working at least earn a little by online trading, so I decided to join the herds of virtual stock traders.
I'll check your blog once in a while, and pls do share your experience with BPI Trade, eventually, and hopefully could share ideas as well in the future.
Cheers,
Orlando
I'm so excited to do the same. But, my problem is I don't have P100,000 as initial deposit to fund my online trading. Is this really the requirement? Is much much smaller amount alright to start online investing with BPI Trade?
Hi there, not necessary 100,000 pesos to open an account. As long as you have an existing BPI banks affiliates (BPI family, BPI Direct etc) in good standing all you need to do is to go BPI Trade main office in Ayala and open an account. But when you trade it is good thing to have at least 30,000 pesos so you can purchase stocks in large size. :-)
@On Llarena/aka Orlando
Unfortunately, I haven't been updating this blog regularly. However, I am developing a new personal finance website www.thegirlninja.com. I hope that it will be up within July.
I congratulate you in taking another step in your personal finance journey. If I may suggest, do attend seminars on stocks. Citisec offers regular and free stock investment briefings and seminars.
@roymjimenez
You don't actually need P100,000 to open a trading account with BPI. For Citisec, you can open an account for P5,000. For 2TradeAsia (which is the one I am using for my active trades, I use BPI for long, long term stocks), you need P30,000
@anonymous
I agree with your P30,000 idea. Hence, I always suggest that if someone is interested with stock trading and he can only save P5,000 a month to accumulate that money into a savings account until it grows to P30,000
To All:
Thank you for reading this blog and I hope I was able to help
Hello everyone.
I started my BPItrade account on September of last year. I even attended a seminar sponsored by the PSE so I would at least initial information with regards to stock trading.
What really amazes me is that it is really true what books say about the stock market say that it really a good way of earning extra income because of the earning potential that it possess. I have also shared my insights/ experiences and encourages my colleagues and friends about investing in the stock market.
My first target really is to earn my first hundred thousand then perhaps my first half a million. Then become a millionaire before I retire.
I hope all is well on your trading Llarena likewise to the others.
Cheers!
Ryan
What if I want to transfer my funds/account from Citiseconline to BPI, right move ba yun? Parang mas madali kasi ang transfer of funds kapag ka sa BPI, sa Citiseconline kasi parang mahihirapan ka pa talaga.
I congratulate you and at the same time I pitty you. It is fortunate that you started Stocks trading. Unfortunate that you started in a wrong place same with me. Today, stocks is down and I'm seating duck cause bpi trade is down. Get out from this system as fast as you can and pick other broker with stable system. I'm doing that as of this writing. I'm very disappointed to BPI trade.
need your help:
im new and still figuring out what to do with my bpi expressonline and bpitrade,, can you help me? i having problem with transferring funds from expressonline to trade.. how to enroll my trade to expressonline.. incase.. here is my email add: olivertulod@gmail.com ..
thanks for your blog. Because of you I was able to email BPI stockstrade already about my certs. I still want to keep my BPI stock certs and trade them later when the prices go up, stocks are low today so it's better to hold on till they went up again. The stupidest thing to do when trading is to redeem when they're low. This is really helpful.
Post a Comment