Investing in the US stock market for small-time Filipino investors

December 3, 2023December 3, 2023 Kuya Well No Comments

Gone are the days wherein you need a big sum of money to invest in the US stock market. In the world of investing, there’s a new buzzword that’s making the financial markets more accessible to everyone: fractional shares. What Are Fractional Shares? Traditionally, when you wanted to invest in a stock, you had to … Read More “Investing in the US stock market for small-time Filipino investors” »

Poor Pinoy Investor US Stock Portfolio Update (October 2023)

October 11, 2023October 10, 2023 Kuya Well No Comments

Posts, Stocks

It’s a little bit late for the portfolio update but here we are. Portfolio Performance for September It’s another red month, but this time, it’s a -4.99%. Technically, the combined August and September performances negated the portfolio growth I had for June and July. With this, my portfolio’s year-to-date performance is now just sitting at … Read More “Poor Pinoy Investor US Stock Portfolio Update (October 2023)” »

Shari-Shari: Investing in US Stocks for Filipinos

Investing in the stock market has become a popular way for individuals to grow their wealth and secure their financial future. In the Philippines, accessing international stock markets, such as the US stock market, has traditionally been difficult for individuals. However, with the rise of online trading platforms, it has become much easier for Filipinos to start investing in the stock market. One such platform is Shari-Shari.

What is Shari-Shari?

Shari-Shari is a registered trading platform in the Philippines that provides Filipinos with the opportunity to invest in the US stock market and other financial markets. It is a BSP Registered Operator of Payment System (OPS) with registration number: OPSCOR-2021-0030.

Pros of Using Shari-Shari

Ease of Funding

The main reason why most Filipinos are having difficulty entering the US stock market is due to the limited funding options of other trading platforms. Luckily, it’s easy to do so with Shari-Shari. Here are the available options:

InstaPay bank transfer
e-Wallets like GCash, Maya, or Coins.ph
Unionbank online
PESONet bank transfer

Low minimum deposit amount

You can fund your account for as low as 1000 pesos.

BSP-registered company

Since it’s a Philippine company, Shari-Shari is a BSP Registered Operator of Payment System (OPS).

Cons of Using Shari-Shari

Potential for high fees

There are several fees that you will incur when using Shari-Shari.

Onboarding fee – a one-time fee of 599 pesos
Funding fee – it will cost you an admin fee when you fund your account (the exact amount can be checked once you log into the app)
Withdrawal fees – there’s an admin fee of $5 aside from wire transfer fees which is about $50 for international wire transfer
Monthly account fee – $0.2 per month
Other brokerage fees

Limited withdrawal option

Although you can use eWallets to fund your account, you need to have a bank account to be able to withdraw your money. In addition, you can only use banks that are PDDTS (Philippine Domestic Dollar Transfer System) participants.

How to create an account

Creating an account on Shari-Shari is a straightforward process. Here are the steps to follow:

Go to the Shari-Shari registration page.
Using the link above will take you directly to the sign-up page where you need to fill out the required fields. The fields include your full name, email address, and password.
Click on the “Sign up” button.
You will receive a confirmation email from Shari-Shari.

Note: Before you can start investing, you will still need to verify your identity. The verification process is done via the platform once you sign in to your account. Verifying your identity will require the submission of documents such as a valid ID and proof of address. You will also be required to pay the onboarding fee (599 pesos).

Blogger’s Corner

I no longer have an active account with Shari-Shari. At one point, I paid for the onboarding fee and was planning to use it but the additional fees made me think twice about funding my account completely. In the end, I opted to use eToro to get into the US stock market.

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.