Today I will be sharing how to open a First Metro Sec Online
stock trading account. This is solely based on my personal experience opening an account last March 24, 2017. Investing in stocks has been part of my goals for years and finally I was able to overcome my fears and open an investment account
in the Philippine stock market.
If you’re new to investing and want to read a quick guide to open a First Metro Sec online stock broker then this post may help you.
Disclaimer. As mentioned in the intro this post is based on my experience as an ordinary investor and how I open a First Metro Sec Online account. I didn’t receive anything from First Metro Sec Philippines to publish this post. I am merely sharing my personal finance journey.
How I Found Out About First Metro Sec?
Let me start by saying before March 2017 came I have zero idea that First Metro Sec exists. The only broker I am familiar with highly recommended by others was COL Financial
. Thus, I’ve shared a couple of posts about my desire to open an online stock trading account COL Financial.
This desire didn’t materialize due to the following reasons:
1. I was afraid.
2. I felt like my mutual fund investment is enough.
3. I got lazy completing the requirements and ultimate going to Philippine Stock Exchange Ortigas was surprisingly a hassle for me already.
The interest grew at me and since I’ve been wanting to invest in stocks for a long time I keep on researching that led to open a First Metro Sec Online stock trading account.
Why I Chose First Metro Sec?
Upon my research I found out that the First Metro Sec has a ton of advantage, personally.
First, it is easier to open. You just basically have to do three things — 1.) Fill up the application forms and requirements, 2.) Enclose forms and requirements with two identification cards a.k.a. ID (photocopy only) and 3,) Submit to First Metro Sec’s office.
Second, First Metro Sec is “a brother” of First Metro Asset Management Inc. (FAMI)
where I already have a mutual fund account since 2014. They both are part of the First Metro Investment Inc., the investment arm of Metrobank. Read more about my FAMI Mutual Fund investment HERE
Third, your First Metro Sec can be linked to Metrobank Direct smoothly. This means funding your account can be done online. This is important for someone like me who hasn’t that much time. Still all transaction will be done to the platform provided when you open a First Metro Sec Online stock trading account.
, I can reinvest to First Metro Sec my existing FAMI mutual fund
. This deserves a separate post because it would be very confusing. But to put briefly, you can use a fraction of your FAMI mutual
to invest directly in the stock market.
Last but definitely not the least, when you are a Metrobank owner your opening fee a.k.a. initial investment is FREE. Yes, you can fund your account as low as 1,000pesos or 3,000pesos. Other stock brokers in the Philippines have account opening fee of 5,000pesos to 25,000pesos.
Requirements to Open a First Metro Sec Online Stock Trading Account
Here are the updated list of things you need to prepare when opening an online stock trading account at First Metro Sec.
- Valid email address for your First Metro Sec account
- Duly Accomplished First Metro Sec Online Trading Account Application Form
- Photocopy of at least (2) valid IDs.
- Initial investment if you are not a Metrobank holder. Non-Metrobank holder will need 25,000pesos initial investment upon account opening.
Here’s the Steps to Open a First Metro Sec Online Stock Trading Account
If it is your first time to open a First Metro Sec Online trading account then no worries. Here are the step by step procedure you need to follow:
Step 2. On the next page supply for your Online Trading Account credentials like username and password you want to use. Make sure to select a good Security Question to answer so that if and then problem arose when you login you can still activate your account. Note that the same password you chose to open a First Metro Sec Online account will be used every time you buy stocks as added security. Once done click Continue.
Step 3. Then you will need to input your Personal Information. These are basic details about you like name, address, mobile number etc. Once done click Continue.
After creating your account credentials (Step 2) and filling up your personal information (Step 3) you will be asked to take a quick Investors Profile
. The questions being asked in this page will help assess your preferences as an investor like your risk factor and whether you are in for the long-term or short-term. Please answer this properly to also identify what kind of investor you are
. Once done click Continue
Step 5. You will be redirected to the Review and Print page. Here you will download a PDF format of your answers to the Personal Info and Investors Profile together with a Signature Specimen. Print these documents and sign.
Step 6. Lastly enclose you need to enclose the printed and signed documents with photocopy of at least two valid (IDs). Below is a print screen of what you need to prepare to open a First Metro Sec Online Stock Trading Account.
Here’s the photo of the documents I prepared during the First Metro Sec application. For Identification I used my NBI and Philhealth ID.
Step 7. Personally visit a First Metro Sec office near you to submit your application. This is a mandatory process apparently to check the completeness and correctness of the documents you are about to submit. Below are the offices:
First Metro Investors Center Makati
18/F PSBank Center
777 Paseo de Roxas cor. Sedeno St.,
First Metro Investors Center Binondo
G/F Wellington Bldg.
Plaza Lorenzo Ruiz,
First Metro Investors Center Cebu
Metrobank (Cebu) Plaza,
Osmena Blvd., Near Rotondo
Cebu City, Cebu
First Metro Investors Center Davao
Ground Floor, Hotel Uno Bldg,
CM Recto Street
Davao City, Davao del Sur
What To Do After You Open A First Metro Sec Online Trading Account
Upon submitting all you requirements you need to wait 2-3 working days for First Metro Sec to process your application. You will receive an email with your login credentials to confirm that your account has been made successfully. After this you are ready to buy your first stocks and start trading.
For non-Metrobank holders who have submitted their initial investment your account will have the said amount already upon login.
Metrobank holders on the other hand has option to 1.) Connect their First Metro Sec account to their Metrobank account to automatically transfer funds for your investment. 2.) Do an over-the-counter deposit at the nearest Metrobank.
That’s it. You are now officially investing in stocks.
Final Notes from SavingsPinay
Investing in stocks in the Philippines is now easier and more possible than before. There are a ton of resources available online to know how to start stock investing. I do hope this post helped you on the step by step to open a First Metro Sec Online stock trading account. Again I have to emphasize just like any other investment vehicle first impressions I do I am not getting paid to write this post. I may not receive any commission or perks with this post but I’m glad to share my personal experience.
Do you have a First Metro Sec account?
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