Note: I am not affiliated in any way with COL financial. I’m sharing this post because people are asking how to invest in stocks, the first thing is to have a broker.The broker I personally use is COL financial. This post is about how to open a COL financial account.
Why I choose COL financial?
There are 27 online brokerage firms you can choose. I choose COL financial not just because it’s the most popular but it is also one of the recommended and trusted brokerage firm for years. They also have excellent customer service.
The thing I love about COL is that they provide a service where you can invest in mutual funds.(This is the reason I open a COL financial account). Also they are one of the most affordable, recently they lowered their minimum initial investment from P5,000 to P1,000!
What are the steps in opening a COL financial account?
Before we go on to the detailed step by step on how to open a COL financial account, here is a bird’s eye view of the steps:
- Choose your account type
- Download and print out the application forms
- Prepare additional requirements
- Submit the documents to COL financial by going to their office OR you can send it through mail.
- They will arrange a video call if you submit your requirements through mail
- Fund your account
- They will email you your log-in details and you can now begin investing!
COL Financial account Requirements
If you don’t have TIN, refer to this guide on how to get one.
So let’s go on to the detailed step-by-step guide on how to open COL financial account:
STEP 1 Choose your account type
What account type to choose?
The COL STARTER will do. With this type of account, you can start buying some stocks and mutual funds. Recently COL has lowered its initial investment from P5,000 to P1,000.
STEP 2 Download and print out the application forms
Note: You need to print out the hard copies of your application forms. You will send these physical documents to COL through couriers like LBC,JRS etc. in case you cannot go directly at their office to submit the documents.
Download and fill out the following forms:
- Customer Account Information Form (CAIF)
- Individual Disclosure Form
- The Online Securities Trading Agreement (OSTA)
You can download the documents here
STEP 3 Prepare additional requirements
The additional requirement in opening a COL financial account is Photocopy of one (1) valid government issued ID.
The photo and signature on your ID must be clear. The signature you use in filling up the forms must be the same signature on your ID.
Here are sample of valid government IDs:
- Philippine passport – Department of Foreign Affairs
- Driver’s License – Land Transportation Office
- SSS UMID Card – Social Security System
- GSIS eCard – Government Services and Insurance Corporation
- Digitized Postal ID – Philippine Postal Corporation
- PRC ID – Professional Regulation Commission
- IBP ID – Integrated Bar of the Philippines
- OWWA ID – Overseas Worker’s Welfare Administration
- Diplomat ID – Philippine Embassy
- OFW ID – Department of Labor and Employment
- Senior Citizen ID – Office of the Senior Citizen
- Voter’s ID – Commission on Election
- GOCC and Government Office ID – branch or agency of government (Example; PNP ID, AFP ID, DENR ID, DepED ID, etc.)
STEP 4: Submit the documents
You may personally submit the documents at COL financial offices. They have office in Ortigas, Makati, Davao, Cebu and Ilocos.
If you cannot go to their offices, you can just mail them your documents through couriers like LBC,JRS. Mailing will cost around P100 to P150
Use standard office envelope and write the address on the front of the envelope ( see image below)
Here are their addresses:
COL Business Center
2403B East Tower, PSE Centre,
Exchange Road, Ortigas Center,
Pasig City 1605, Philippines
COL Investor Center – Makati
Ground Floor, Citibank Tower,
Valero corner, Villar Streets,
Makati City 1227, Philippines
COL Investor Center – Davao
2nd Floor Robinsons Cybergate,
J.P. Laurel Ave., Bajada,
Davao City 8000, Philippines
COL Investor Center – Cebu
Unit B205 Axis Entertainment Ave,
Vibo Place, N. Escario St.
Cebu City, Philippines
COL Investor Center – Ilocos
Level 2, Unit 242 Robinsons Place Ilocos Expansion Mall,
Brgy. 1, San Nicolas, Ilocos Norte
How to open a COL financial account if you are in abroad
If you are an OFW or know someone in abroad, you can open an account too. Send your documents in Iremit branches abroad.
Here is the list of iremit branches in abroad.
STEP 5: Schedule a video call with COL financial representative
If you send your documents through mail, you will need to have a video call with COL financial as part of their requirement. The video call will only take about 3 minutes. They will just verify that you are the one opening an account. You need to have the ID you sent them during the call for verification purposes.
You can schedule the call between 8 am to 5 pm during weekdays. The video call will be done through Skype or Viber so you need to have internet access.
STEP 6: Fund your account
Another advantage of COL is that you can fund your account with different banks. Charges may or may not apply depending on what bank your using.
For more detail on how to fund your COL financial account refer to thisGUIDE from COL.
Once you fund your account, they will instruct you to send a confirmation to them that you have funded your account then wait for their email about your log in details.
STEP 7 Wait for your login details and you can now start investing
After sending them the confirmation that you have funded your account, wait for about 3 days and they will email you your log-in details. Once you’ve received your log in details you can now begin investing!
I hope that this article has help you to begin investing on your investing journey.
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