How to open a BPITrade account

May 30, 2011

Stocks, Mutual Funds, Forex, Finance Philippines

Make Money Online, Stocks, Mutual Funds, Philippines

Those interested to trade stocks in the Philippine Stock Exchange (PSE) can choose to employ a live broker or an online stock brokerage firm. Either method has its own advantages and disadvantages and will be the subject of a separate article in the future.

For now, we’ll focus on online stock trading platforms. A list of available online stockbrokers in the Philippines can be found in this link.

Two of the most popular online stock trading platform providers are CitisecOnline (COL) and BPITrade. We have previously explained how to open a Citisec stock trading account. In this article, we will discuss how to open a BPITrade account.

What is BPITrade?

BPITrade is an online stock trading facility offered by BPI Securities Corporation, a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), one of the Top 3 banks in the Philippines.

How to open a BPITrade online account?

1. First, you need to be an existing BPI or BPI Family Bank account holder in order to apply for a BPITrade account. If you’re not an existing client, you need to open at least a savings account with them in order to proceed.

2. Visit the website www.bpitrade.com and click on the link “Apply Now.”

3. On the site, fill out the Online Application Form and print the documents when done.

4. Go to a BPI or BPI Family Bank branch and submit the following:

printed Application Form
two (2) valid IDs, such as driver’s license, passport, company ID, SSS or GSIS ID, credit card with picture, or other valid IDs acceptable to the bank
photocopies of the IDs

Take note that at this point, you are not making any deposit yet to your BPITrade account.

5. At the branch office, you will be asked to fill out some forms and the branch officer will verify your signatures. Once everything is complete, you will be told to wait for a confirmation email on how to fund your stock trading account.

6. The confirmation email normally arrives within 1-2 weeks. It will tell you if your BPITrade bank account has already been activated. In order to fund your account and to start trading, you will need your BPITrade bank account number. Look this up by logging on to the BPITrade website and going to the “Portfolio” menu.

7. How to fund your BPITrade online stock trading account:

Branch Deposit – Go to any BPI branch and make an over-the-counter deposit to your BPI Trade bank account
Through BPI Express Online – Enroll your BPITrade bank account in your BPI online banking account and make fund transfers via the internet anytime
Through ExpressPhone or ATM – Enroll your BPITrade bank account to BPI ExpressPhone and ATM in order to use these facilities to make fund transfers
Wire or Telegraphic Transfer – If you’re outside the Philippines, you can still fund your account by sending a money transfer via wire to your account (Swift Code for BPI: BOPIPHMM)

8. Once your BPITrade account is funded, you can now start trading stocks online!

What is the minimum deposit needed to open a BPITrade account?

There is no minimum amount needed to open a BPITrade account. Take note, though, that if there is no deposit balance in the BPITrade bank account, it is not possible for you to purchase stocks. Also, BPI requires that you maintain a monthly Average Daily Balance (ADB) of P500.00 so that your account won’t be charged a service fee of P200.00 per month.

How to withdraw funds from BPITrade account?

1. Login to your BPITrade account.

2. On the left-hand sidebar menu, click “Services” and go to “Withdrawal Request.”

3. Fill out the withdrawal request form. Make sure the amount (in figures) you are withdrawing matches the amount (in words) on the form.

4. Your withdrawn funds will then be transferred to your designated BPI settlement account after one banking day.

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Written by James | PinoyMoneyTalk.com · Filed Under Stock Trading

Join the discussion! Post a comment below

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http://www.facebook.com/dapekepersonal Da Peke

Ano to makakabuy and sell ka ng stocks from PSE through BPI Trade?
- James | PinoyMoneyTalk.com
  
  Yup, that’s the idea of a stockbroker. You can buy and sell PSE stocks online using BPITrade, Citisec Online and other online stockbrokers.
- Yagami
  
  I’m planning on investing in stock market. Ang problema wala ako kilalang stockbroker. But if this BPI trade is a virtual stockbroker, will I be able to do it alone?
  
  And can anyone invest in stocks even you’re not a college grad?
- James | PinoyMoneyTalk.com
  
  When you use an online stockbroker, you do stock trading on your own. You buy and sell your own stocks without the need for a live person to do it for you. Of course, anyone can trade stocks regardless of educational attainment — as long as you know what you are doing and you are aware of the risks you are taking.
- Arnel_caalim
  
  it takes ages for them to approve the application lalo na kung nasa overseas ka,,, damn snail mail,,,
- Mayen
  
  Hi Arnel, just a follow-up on Danny’s query..so how does it work if you buy stocks through BPI Trade?
- http://www.facebook.com/dannytamayocpi Danny Tamayo
  
  If you buy stocks from BPITrade for example, you buy meralco stocks of 100 shares, do you get a certificate that you own 100 shares? How does that work? and how do you get the dividends from your stocks?
- Ching Santos
  
  You can join at trulyrichclub.com and they will send you a pdf file of what stock to buy and sell twice a month. And that of course with a fee :)
  
  Click here —-> http://bosanchezmembers.com/amember/go.php?r=28474
Jcrafael3

Just want to know kung ilang araw ung process?

http://tiny.cc/utx9v
- James | PinoyMoneyTalk.com
  
  Lead time between the submission of documents and the activation of BPITrade account is usually 1-2 weeks. I added that just now in the post above.
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Blue Jab

I don’t recommend bpitrade as your stockbroker…because of very very poor customer service and very very boring website design. Select instead citisec online or first metrosec…
- rachel
  
  i am getting just that. i followed all instructions and went to the bank the next day, only to have asked to call someone else; i did and was asked to return to the bank! …only to have asked again that i need to verify with the one i’ve talked to.
  
  spent all afternoon coming back and forth! wala naman na accomplish!
Waktu Rehat

I have an existing BPItrade account, can I open another (a second) BPItrade account?
Treble_neri

i want to open bpitrade account, can i open even my existing account in bpi is bpi easy savers account?? not a bpidirect account.
Paige

I want to try BPItrade but I don’t know how to do stock trading. I don’t know how I will be able to earn from it. Is there anyone who can help on this?
Carlo

How do you link the bpi trade account in your bpiexpressonline?
- Kel
  
  This will automatically appear on your bpiexpressonline list of accounts once you sign-up
- dyiez10
  
  Hindi po sya automatic na nasa expressonline. di ko rin makita bpitrade account number ko sa website nila. tsk.
- Mark25
  
  dyiez10, nakita mo na po ba ang BPI Trade account number mo sa website? Same issue din ang sa akin. Salamat
- dyiez10
  
  Mark25, namail ako s BPI at sumagot sila na kailangan tumawag sa hotline nila for verification. yun, binigay n nila acccount number ko via phone call.
- http://twitter.com/misisurikya twinkle
  
  “This will automatically appear on your bpiexpressonline list of accounts once you sign-up.”
  
  - Not true. You have to enroll it as an additional account. It’s just a few clicks and will be visible online the next 3 days as BPI Direct.