Investing in the US Stock Market with eToro: A Guide for Filipinos

Investing in the US stock market is a great way to diversify your investment portfolio and potentially increase your wealth. However, without prior knowledge and the right resources, investing in US stocks can be a challenging and confusing process. This is where eToro comes in. As a user-friendly platform, eToro makes it possible for Filipinos to purchase US stocks with ease.

What is eToro?

eToro is a leading global investment platform that offers a wide range of assets for trading, including stocks, commodities, currencies, and cryptocurrencies. It’s a social trading platform where you can copy the trades of top investors or trade on your own. With eToro, you have access to a large pool of assets from around the world, including the US stock market.

Why use eToro for investing in the US stock market?

There are several reasons why eToro is a good choice for Filipinos looking to invest in the US stock market:

Pros of using eToro for Filipinos

User-friendly platform

eToro is designed to be user-friendly, making it easy for Filipinos to start investing in US stocks, even if they have no prior knowledge of the stock market.

Wide range of assets

eToro offers a wide range of assets, including stocks, ETFs, commodities, and cryptocurrencies. This gives Filipinos the opportunity to diversify their portfolio.

Social trading

eToro offers a unique feature called social trading, which allows Filipinos to follow and copy the trades of other successful investors on the platform.

Regulated

eToro is regulated by the Financial Conduct Authority (FCA) in the UK. This ensures that Filipinos’ investments are safe and secure.

Cons of using eToro for Filipinos

Complex platform

While eToro is user-friendly, it still requires some prior knowledge of trading and investing to fully utilize all its features.

Higher costs for some investment options

While eToro offers low costs for its services, the fees for some investment options, such as cryptocurrencies, can be higher compared to other platforms.

How to Open an eToro Account in the Philippines

To start trading with eToro, follow these steps:

Visit the eToro website and click on “Sign up”
Fill out the registration form with your personal information
Verify your account by providing a government-issued ID and proof of address
Fund your account with a minimum deposit of $50

Funding and Withdrawing from an eToro Account

eToro allows traders to fund their accounts using credit/debit cards and bank transfers. To withdraw funds, you must have a minimum balance of $30 in your account. Note that eToro may charge fees for both funding and withdrawing, so be sure to check their fee schedule before making any transactions.

Conclusion

In conclusion, eToro is a great platform for Filipinos who want to invest in US stocks and other financial markets. With its user-friendly platform, extensive investment options, low costs, and extensive resources, Filipinos can now start growing their wealth and securing their financial future with ease.

Furthermore, with multiple options for funding and withdrawing from your account, eToro offers convenience for Filipinos who want to start their investment journey. While the platform may be too complex for some users and the fees for some investment options can be higher compared to other platforms, eToro’s wide range of investment options and extensive resources make it a great platform for Filipinos who want to diversify their portfolio.

Invest in PSE with BPI Trade

BPI Trade is an online stock trading platform provided by the Bank of the Philippine Islands (BPI). It is an easy and convenient way to invest in the Philippine Stock Exchange (PSE). With BPI Trade, you can access real-time stock quotes, place orders, and monitor your investments from your computer or mobile device.

Steps to Open a BPI Trade Account

Go to the BPI Trade website at www.bpitrade.com and click on “Open an Account”.
Fill out the BPI Trade Client Account Information Form, which can be found on the website.
After completing the form, download, print, and sign it three times on the designated lines.
Submit the scanned form and other required documents to bpitradeapplications@bpi.com.ph. You can also visit any BPI Branch near you or personally go to the BPI Securities Office in Makati City to submit the original form and other requirements.
It usually takes three banking days to process the opening of your account, provided that the submitted requirements are complete and correct. Once your application is approved and the account is opened, you will receive a confirmation email with your User ID.

Funding Your BPI Trade Settlement Account

Your BPI Trade Settlement Account (SETA) is a separate account from your BPI savings or checking account. This is where your cash balance will be reflected, and this is also where you will transfer funds when you buy stocks.

There is no minimum amount required to fund your Settlement Account.

Ways to Fund Your BPI Trade SETA

BPI Online
BPI Mobile
E-Wallet (GCash, etc.)
From Other Bank (InstaPay, PESONet)

When will the amount be credited?

Deposits made to your Settlement Account through any of the channels (i.e. BPI Online, BPI Mobile, E-Wallet) before 10:00 PM on a banking day shall be reflected in your Cash Position on the next trading day. Any deposits made beyond 10:00 PM on a banking day, on a weekend, or on holiday shall reflect after two (2) banking days.

How to withdraw

Here are the steps to withdraw funds from your BPI Trade account:

Log in to your account at www.bpitrade.com.
On the MAIN tab, go to Account Info, then click Withdrawal. You can also click on “Withdraw Funds” located on the right corner of the Main Page, under Account Balances.
Select the amount you wish to withdraw from the available funds and click the “Next” button.
Enter your account password to confirm and submit your request.

The funds will be transferred to the Beneficiary Account that you nominated in your application form.

Pros and Cons

One of the advantages of BPI Trade is its accessibility, as you can trade stocks online from your computer or mobile device. Another is its user-friendly interface, which makes it easy for investors to manage their portfolios. However, one disadvantage is that it does not currently have a mobile app, which could be inconvenient for those who prefer to manage their investments on the go.

Conclusion

In conclusion, BPI Trade is a convenient and accessible platform for investing in the Philippine Stock Exchange. With its user-friendly interface, you can easily manage your portfolios and trade stocks online. Despite its lack of a mobile app, it is still a competitive option compared to other platforms such as BDO Securities or COL Financial.

Maximize Your Savings with Maya Bank: Earn high-interest rates

Maya Bank is a digital service bank supervised by the Bangko Sentral ng Pilipinas. They offer a base interest of 3.5% per annum on your deposits (up to 5 Million) for their “My Savings” account.

The base interest rate can be boosted wherein you can earn an additional 1, 2, or 6% interest by completing missions or tasks. Take note that the boosted interest is usually applied to a certain amount of your balance only. The mechanics of these missions/tasks (including the amount it will be applied on) are based on their current boost promo which you will see once you check your Savings account in the app.

The interest on your savings is computed and credited on a daily basis (around 12 MN but it’s usually reflected in your account 2-3 hours later). The boosted interest is given sometime during the day.

On top of their regular savings account, you can create a “Goal account” which will give you a 4% interest per annum with the interest credited on a monthly basis. This allows you to create a special account, as the name dictates, for your goals (i.e., Travel fund, new phone). However, this particular account is only good for 6 months or until you’ve reached your goal amount. The total amount (deposits plus interest) will then be automatically transferred to your Regular savings account. You can create up to a maximum of 5 goal accounts.

Quick Background

Maya Bank is the digital banking arm of Voyager Innovations which PLDT owns. You can access deposit money into Maya bank through the Maya app. However, unlike GSave of GCash wherein they are simply partnered with CIMB, BPI, and Maybank for their savings program, the Maya app has its own digital bank in itself.

How to open an account?

Download the Maya app on Google Playstore for Android, AppGallery on Huawei devices, and App Store for iOS.
Once you have the app installed, tap on “Start an Account”.
Provide your personal information, then tap “Agree”.
You’ll be asked to key in a verification code which will be sent to your registered mobile number.
To get additional rewards, enter my referral code: Y6L9DXVXZW81

Benefits of having a Maya account:

Higher earnings interest rate. You’ll get a base interest of 4% per annum which can be boosted to 10% through their promos.
Interest is credited on a daily basis (around midnight).
Their goal account allows you to earn 6% per annum without any other requirements, albeit the interest is credited on a monthly basis.
Compounding effect – since you get daily interest, you’re actually earning more than 4% per annum base interest due to compounding.
No minimum balance requirement to earn interest, unlike commercial banks that require a certain amount before you can start earning their measly interest.
No maintaining balance, unlike commercial banks where you get penalized if you go below their minimum maintaining balance.
No fees for deposits. Note: fees that you may incur when you transfer from another bank to your Maya account is actually a charge imposed by the other bank.
(At the time of posting) No fees for transfers via PESONet.
No dormancy account fees. Note: if your account is dormant for 5 years, it will no longer earn interest.
Aside from the virtual card, you can also get a physical Maya card and may even get it for free through the occasional promos they offer.
Deposits are insured by PDIC up to 500K per depositor.

Additional Benefits:

On top of the savings program, the Maya app is similar to that of GCash wherein you can do various transactions like:

Send/receive money to other Maya users
Pay bills using the app
Buy load
Purchase Bitcoin and other Cryptocurrencies
Shop online using the Virtual card and/or the physical card
Pay via QR code on participating merchants

Cons

Compared to Seabank or CIMB, there’s a 15-peso fee for transferring money to other banks via InstaPay.
Since it’s a digital bank, there is no physical bank that depositors can go to for account concerns.

What else to consider?

Just like any other bank (including Digital banks like Seabank or CIMB), there’s a 20% tax deducted from your earnings interest.

Maya App Interface:

Main section to show all your Maya savings accounts.
Main Savings page
This is the transaction history for interests earned.

Boost Your Savings with Seabank’s High-Interest Rate

Seabank offers a high-yield savings account where you can earn 4.5% interest per annum on your deposits (first 250 thousand). The fraction of the interest per annum on your deposited money is credited on a daily basis (usually between 12MN – 12:10 AM).

Brief Background

Seabank is a registered Rural bank in the Philippines which you can confirm on the Bangko Sentral ng Pilipinas website. It is under Sea Limited which has a headquarters in Singapore and is currently listed on the New York Stock Exchange (stock code: SE).

If you haven’t guessed yet, Shopee is also a part of Sea Limited. Another business under Sea Limited is Garena. Yup, the online games developer and publisher company.

How to Open an Account with Seabank?

Creating an account is relatively easy. Simply do the following:

Download the Seabank app on Google Playstore for Android, AppGallery on Huawei devices, and App Store for iOS.
Select your sign-up option: Shopee, Mobile number, and Apple ID (for iOS devices).
Next, you’ll need to undergo a facial verification.
Upload your valid ID and fill out your personal details. And that’s it.

Benefits of having a Seabank Account

Higher earnings interest rate per annum – it’s currently at 4.5% per annum which is 80 times higher than that of a commercial bank that offers 0.0625% p.a. Note that the 4.5% rate is applicable only up to 250K. Any amount beyond that will earn 3% interest p.a. instead.
The interest amount is credited daily to your account (between 12MN and 12:10 AM). To make it simple, you will get 0.0123% interest on your current account balance.
Compounding effect – since you get daily interest, you’re actually earning more than 4.5% per annum due to compounding.
No minimum balance requirement to earn interest, unlike commercial banks that require a certain amount before you can start earning their measly interest.
No maintaining balance, unlike commercial banks where you get penalized if you go below their minimum maintaining balance.
No dormancy account fees. However, if your account is dormant for 2 years, it will no longer earn interest.
You can have up to 15 free transfers (no transaction costs) every week. This refreshes every Monday.
Deposits are insured by PDIC up to 500K per depositor.

Additional Benefits

The Seabank app allows you to do the following transactions:

Buy Load
Buy goods/services from merchants with QR PH code

Cons

They don’t provide ATM cards. So in order for you to cash out, you’ll need to transfer the amount to a 3rd party bank account where you have the means to cash it out.
Though they have physical banks/branches (since it’s a Rural bank), you can’t go to those banks for your concerns regarding the app or your transactions even. It’s not necessarily a “cons” per se since it’s not expected for a digital bank to accommodate support concerns through a physical bank. That said, I’ve added it here since there are depositors who are still enamored by a physical bank that they can go to when they have concerns.

Anyway, for any account concerns, you can use the live chat support on the app or contact them via email: contact@cs.seabank.com.ph. You can also call their local hotline at (+632) 8891 7927 or their local toll-free number (for PLDT landline and Smart mobile) which is 1800-1-110-2957.

What else to consider?

Just like any other bank (including Digital banks like Maya or CIMB), there’s a 20% tax deducted from your earnings interest.

Seabank App Interface

Daily interests transaction history
Seabank’s Main Page

Maximize Your Savings with CIMB Bank’s High-Interest Accounts

CIMB Bank is one of the earlier known digital banks (though in essence, it’s actually a Rural bank) in the Philippines. They offer 3 savings accounts that provide different earnings/interests per annum and the interests you earn are compounded monthly.

GSave – 2.6% per annum, which can be tied to a GCash account, making it easier to deposit or withdraw money to/from the GCash app.
UpSave – allows you to get 2.5% per annum.
Fast Plus – 0.75% per annum return (which is still higher than other commercial banks). This account is where the Debit card is tied to in case you wish to avail of the card.

CIMB usually provides a promo wherein the base interest rate for GSave and UpSave can be boosted by an additional % interest by completing certain tasks. Take note that the boosted interest is usually applied to a certain amount of your balance only. The mechanics of these tasks (including the amount it will be applied on) are based on their current promo which you will see once you log into the main dashboard of the CIMB app under the “What’s New?” section.

Reminders:

You don’t need to download the CIMB app in order to get a GSave account. You can just create it under the GCash app. However, your maximum deposit limit is 50K and your max account validity is 12 months which means that once either of the two conditions is met, you will no longer be able to deposit further unless you install the CIMB app and link it to your GCash account.
Both UpSave and Fast Plus accounts have a Dormancy Account Fee (30 pesos per month) starting on the 61st month of inactivity.
Up to 2 free ATM withdrawal transaction fees per month for the Fast Plus account.

Brief Background

CIMB (Group) is an ASEAN bank headquartered in Kuala Lumpur, Malaysia. CIMB PH, on the other hand, is regulated by the Bangko Sentral ng Pilipinas as a commercial bank.

How to open an account?

The instructions below will ensure that your CIMB GSave account is linked to your GCash app:

From the GCash app, tap GSave.
Tap GSave by CIMB.
You will then be asked to register GSave by filling out your personal information. Simply complete your details.
An SMS confirmation will be sent informing you that you have created a GSave account.
To link the GSave account you created under the GCash app, download and install the CIMB app via Apple AppStore, Google Play, or Huawei App Gallery.
Open the CIMB app and select “Link my GSave or GCredit account”.
Select “GSave Account” then provide the same mobile number and email address that is registered to your GSave/GCash account.
You will be asked to verify your mobile number via SMS OTP.
Set up your username and password, and enable biometric authentication.
Create your MPIN.
You’ll be asked for additional information next. Just fill them out.
Go through the GSave verification via the selfie check steps. You’ll be scanning your valid ID and be asked for a photo shoot holding your valid ID.
And you’re all set.

Note: Though you can download the CIMB app first, it’s advisable to start via the GCash app to ensure that you are able to link your GSave account between GCash and CIMB.

The Benefits of Having a CIMB Account

Higher earnings interest rate per annum compared to commercial banks.
They usually (or should I say “always”) have a monthly interest promo (for GSave and UpSave accounts) wherein you can get an additional % interest per annum for the qualifying month on top of the regular 2.5% or 2.6%.
1. The usual monthly promo they provide allows you to increase your interest per annum rate for the qualifying month from the regular 2.5/2.6% to 4% p.a. provided that your daily average for the said month is 500 pesos higher than the previous month.
2. Also, if you perform transactions (use it for paying bills, or transfer money to other banks) on your GSave/UpSave account via the CIMB app, you will get another 2% p.a. for that month.
3. You can increase the interests you earn for the month by another 2% p.a. if you use your GSave or UpSave accounts to pay for your Revi credit (if you have availed one).
No minimum balance requirement to earn interest.
No maintaining balance, unlike other commercial banks where you get penalized if you go below their minimum maintaining balance.
No transaction fees on deposits or withdrawals. Note: the fee you may incur when transferring from another bank to your CIMB account is actually a charge imposed by the other bank.
Free life insurance coverage (for GSave and UpSave accounts) which is equivalent to your average daily balance (max coverage limit of 250K). Note: if your GSave or UpSave account has been active for less than 3 months, your life insurance coverage is computed by your latest balance divided by 3.
Deposits are insured by PDIC up to 500K per depositor.
Compared to other digital banks, you can apply for and get a debit card with CIMB.

Cons

No physical bank that depositors can go to for their account concerns. Though it’s not really expected for a digital bank to have a physical bank, however, it’s added here since there are depositors who are still enamored by a physical bank that they can go to when they have concerns.

What else to consider?

Just like any other bank (including Digital banks like Seabank or Maya), there’s a 20% tax deducted from your earnings interest.

CIMB App Interface:

CIMB Accounts List
GSave Account
Transaction History