In this page, I’m sharing how I opened my COL Financial account online without going to COL’s head office in Philippine Stock Exchange Center in Ortigas. Everyone can do this, too. This is very convenient especially those who are living far away from Manila, those who are from the provinces and those OFWs who reside abroad.
Why I Choose COL Financial?
COL Financial is one of the best online stock brokers in the Philippines. There are other big online trading brokers out there like BPI Trade, Philstocks, First Metro Sec, etc. but I’ve decided to choose COL Financial because I was impressed with their stock market research and updates. Their company is also listed in the PSE. Besides, I love their EIP program and the availability of Mutual Funds on their platform.
Before you open COL Financial Account:
I recommend you prepare your email address and I suggest you use Gmail simply because it is less spammy. I also suggest you have an active Anti-virus software in your computer because let’s face it, you will going to trade and this is like banking. You need to have secured internet transactions at all times. You don’t want to be risking your login username and password. I recommend Norton 360 because you will have complete computer + complete internet protection.
COL website uses https and it’s already secure but I still recommend using Norton for total online protection for everything that you’re doing online.
Prepare for your TIN (Tax Identification Number). If you don’t have any yet, you can get TIN online. If you lost your TIN or you forgot it, you can retrieve it here: Verify TIN
Decide what type of COL account you need to open. Personally, I selected the COL Plus because it has EIP and streamlined features. As an investor, you know you don’t only need to grow your funds but your investing skills as well. You can’t be on EIP forever, honey.
Procedures How to Open COL Financial Account Online:
Step 1: Gather the complete documents required
You will need to fill out the forms and sign them properly. Write in Block letters, meaning all capital letters. Make sure the email address you provide is really yours and you are the only one who use it because this is where COL will contact you regarding your application. All transaction notifications and confirmations regarding your COL account will also be sent in your email address.
COL Financial Account Requirements:
- Download Application Forms (CAIF, OSTA, and Specimen Signature Cards) and print them out.
- Photocopy of 1 Government Issued Valid ID
- Funds to your COL account (I used BDO online banking)
Step 2: Send your documents
Have your documents delivered to COL Financial’s address. I used LBC delivery service. COL received my package the next day and they emailed me with the message, “Welcome to COL Financial….” That’s the start of it 🙂
Step 3: Fund your account
Make your initial deposit to fund your trading account. I had to make initial deposit of P25,000 to fund my COL Plus account. I used BDO online banking for this. Funds were immediately transferred to my COL account. The complete instructions were discussed here: “How to Fund COL account using BDO Online”
Step 4: Start trading in real time
Finally, COL sent me my log in password and my account was active. I can then trade real time. I logged in my COL account and changed my password. It’s always safe when you’re the only one who knows it.
How to Open COL Financial Account Abroad?
If you are living and working overseas, you can also open your COL Financial account by going to any iRemit Branches. COL Financial has partnered with iRemit. Just bring your signed forms and clear copies of your valid IDs and submit them to iRemit.
Ma’am, with regards to having a TIN , is there any some kinda obligatory fee for maintaining one -say annualy? Thanks. (Studyante pa lang po kasi 🙂 )
Not that I know of if you’re not employed or don’t have a business 🙂
Good day!
I appreciate your blogs and all I can say is its super easy to understand. I’m about to open my COL acct but I only have one question. If I open my acct as starter can it be upgraded to plus anytime?
I think so, just contact COL and request for an account upgrade
Thanks and more power!
Hello, Fehl!! I have a TIN when I worked on a Temporary status in one government agency I worked with. Should I use it if sover I want to open an account with COL? Thanks and more power!
Yes, we only have one TIN for life 🙂
i’m interested in opening an account i just turned 18 this year and I’m wondering what should I do cause I still dont have any Government Valid ID (my voter’s id not yet released) and for the Latest Utility Billing Statement is it okay if its not named under me (cause my parents are paying for it) and for funds is it okay if I use BPI sorry i have so many questions ,,,
Hi Kristine. The credit card statement must be under your name too. Yes, you can fund COL using BPI as well.
Hi ma’am, so the initial amount for investing is 5k (minimum) right? so how is that? Will I be required to give off 5k monthly? and what if after 10 yrs Ive grown my stocks into 7M pesos. Can I use that money already? (i.e. for business, or to buy a house) Thankyou
That 5K is the initial amount to open EIP account. 25K is need for COL Plus and 1M for Premium account. It doesn’t mean you need 5K monthly. That is only the required fund to OPEN an EIP account. Your COL account is your wallet. You can use the money in there to buy and invest on stocks. If your stocks have grown to 7M value, you can get the money by selling your stocks. Then withdraw your money from your COL account. 🙂
Hi Fehl!
I wanna ask if I can just transfer my funds in COL account to a Bank account, just like how you fund your COL account? Or is there a COL card, maybe, suitable for any atm machines? Haha How can you withdraw your money?
By the way, you really have great articles. Thank you so much! 😀
Hi! You can withdraw your funds in your COL Financial account by submitting a Fund Withdrawal form, which you can download by logging in to your COL account’s HOME and then to FORMS and send that form via fax or email to their Accounting dept. You can also pick up as a check. Contact COL thru the email and phone number they provided in the Welcome email when you enrolled your account. There is no online way or direct transfer I know as of now.
One more ma’am 🙂 Is it possible to use other banks – I use MB – or COL has struck hands exclusively with BDO? Thanks again 😉
Yes, COL accepts funding via Metrobank and BPI as well
Hi milady Fehl, does COL starter has a feature where-in you can trade stocks directly and view stocks graphs, earnings, etc.? Also, how much is the minimum starting funding for COL plus? Thanks 😉
p.s. Seems you are not dating your articles, would be good if you date it especially those one’s about jobs, et al.
COL Plus has those but I’m not sure with Starter since I’m using COL Plus. Minimum fund for Starter is P5K, P25K for COL Plus and 1 Million for Premium. Yup, I don’t use dates for SEO purposes 🙂
hi miss Fehl, good day! Your post is so much helpful for a beginner like me. Thank you for the info that you have shared. God bless u more.
Just want to ask if after opening a COL account,will you still have 2 pay monthly after paying the initial amount? Thanks in advance.
Hi Eric! Nope, you don’t have to pay monthly. COL account is your platform to buy, sell, trade and invest in stocks. You are the one who controls it. You are not obliged to buy or do anything monthly. The money (equity) in your COL account is all yours. If you scheduled EIP, you must follow it. Like I said, you control everything. 🙂
Currently here in UAE, and I’ve been reading everything about stock market, from “what” to “how” these past couple of months. I just gathered up all necessary papers and documents to open an account with COL Financial and will submit it these coming days. I must say, I’m impressed with how Edward Lee is managing his company and how he envision their growth in another 15 years with a very optimistic approach. Further more, they’re planning to integrate mutual funds to their current platform to make it more diversified and accessible for their client. That’s a very good news! I’m looking forward to that. Meanwhile, I need to open an account first before everything else. I’m also planning to open COL Plus. Excited to enter the world of trading:)
COL offering mutual funds would be so interesting 🙂 Also looking forward to that. Hope to see you again on my next posts about stocks 🙂
HI Fehl,
Is there a transfer fee when u fund your COL using BDO online banking?
I would like to do this to avoid hassle and a much higher cable charge since I work abroad.
thanks in advance.
Yes, there is transaction fee. I think I was charged P10 by BDO 🙂