Stock Broker Comparison: COL Financial vs BPI Trade

I encountered a detailed comparison between  BPI Trade and COL Financial by G. M. Domingo and thought it was pretty detailed hence It would be useful to guide the Filipino Investors out there in making their decision on choosing their first online Stock Broker.

Enjoy his comparison between the two from his personal experience. Cheers!

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I have accounts on both BPI Trade and COL Financial. Sadly, as much as I like the bank, BPI Trade has caused me lots of headaches, whereas COL is better in almost all criteria. I sincerely hope BPI does some bold moves to fix their processes.

Here are their comparisons based from my personal experiences:

BPI Trade

• Application: So hard and so complicated (this is the most tiring part, believe me -- you apply online, print, bring the form personally to any branch, wait for weeks for their email to arrive, then the email arrives but everything is confusing and you still won't be able to open your account, then finally you call their hotline to ask for the initial password. And as additional surprise, you still have to enrol your BPI Trade Account Number to your BPI Express Online so you can do fund transfer. To do this, you have to again enrol online, print, bring form to the bank then wait for days again until you see it in your Express Online account. Note that all of these take about 3-5 weeks to finish.

Investment and Life Lessons - Part 2

Here's Part 2 of my previous post regarding the lessons/quotes I've encountered in my various readings. My list is getting too long again hence I'm sharing it with the Filipino Investors out there for them to learn a thing or two. Cheers!

1. You are supposed to do original research, but if you get to original, they don't know what’s going on - Maury Osborne
2. When you're buying, appear to be selling. When you're selling, appear to be buying - Lucio Tan
3. Money isn't lost or made it was simply transferred from one perception to another - Gordon Gekko
4. The illusion has become real and the more real it becomes the more desperate they want it - Gordon Gekko
5. Both poverty and riches are offsprings of thought - Napoleon Hill
6. Victory is always possible for the person who refuses to stop fighting - Napoleon Hill
7. A positive mental attitude is an irresistible force that knows no such thing as an immovable body - Napoleon Hill
8. Your vision and your dreams are the blueprints of your ultimate achievements - N.H.
9. Demography is Destiny - Auguste Comte
10. The long term economic fortunes of a nation requires these ingredients: a. A large population b. Young and productive citizens c. Growth of the "aspirational" or middle class d. A supportive environment for growth
11. Nothing worthwhile is ever easy
12. No matter what your status in life is, be grounded. When you start believing that you’re the best, that will be the start of your downfall. You have to keep working hard and learning new from other people - Wilson Sy