9 Best Online Trading Platforms in the Philippines – Grit PH (2024)

Last Updated – Nov 17, 2022 @ 6:06 pm

Want to start your investing journey but you’re not sure how?

The best way to do this is to set up an account on an online trading platform.

Not all online trading platforms are the same. These services offer different investment options, beginner education, market research, customer service, and overall ease of use.

If you want to maximize your investing experience, you need to choose the right investment platform.

This is why we’ve done most of the legwork for you by rounding up the best online trading platforms in the country.

What is an Online Trading Platform?

The term “online trading platform” refers to a licensed brokerage firm that offers buying and selling services for digital assets like stocks, foreign exchange, mutual funds, REITs, ETFs, and cryptocurrency.

An online trading platform is a digital brokerage that makes it easy to invest in assets by automating services, simplifying complex trading ideas, and offering lower trading fees compared to traditional stockbrokers.

Many online trading platforms also offer free or discounted trading tools such as stock screening, online chat rooms, and market research reports. These tools are useful for planning and executing your trades.

One of the biggest advantages of an online trading platform is its easy-to-use interface.

Most of them are mobile-friendly and can be used on smartphones and tablets. They also offer a desktop version for PCs and other computers.

So How do Online Trading Platforms work?

Before you can trade on an online trading platform, you need to set up an account.

Most of them let you sign up either as a beginner or an experienced trader. It’s important that you choose the right one depending on what type of digital assets you want to trade on.

Once you’re a member, it’s time to add funds to your account. Most online trading platforms offer a variety of digital assets so you can choose which one best fits your needs.

These platforms are known for their low trading fees which makes it easier for you to invest as much as you want.

What are the Benefits of Using an Online Trading Platform?

We’ve rounded up some reasons that will convince you to use an online trading platform.

It’s cheaper and more efficient

Unlike traditional stockbrokers, online trading platforms are known for having low trading fees.

Online trading platforms usually charge a flat rate per trade. The more you trade, the better the deal.

Additionally, modern online trading platforms are designed to be easy to use.

Most of them use a Windows or Android-like interface that’s simple and straightforward. They also offer a mobile app that makes it possible for you to trade on the go.

You don’t need a middleman

An online trading platform is an online brokerage firm that provides online financial services without the need to go to a physical branch.

This eliminates the need for a middleman who would collect trading fees from you.

It gives you improved control

With an online trading platform, you can trade anytime, anywhere you want. This means that you can buy and sell any digital asset at any time of the day.

Many platforms also offer 24-hour customer support, so you can always get help when you need it. There’s no need to book appointments so you can make a trade.

You can exercise real-time monitoring

Unlike traditional stockbrokers, online trading platforms let you monitor real-time buying and selling transactions.

They also let you track your trade history and keep tabs on your portfolio.

It’s risk-free

Because an online trading platform is a digital brokerage firm, it’s required by law to have a securities regulator license.

This license guarantees that the company can protect your assets and personal information.

It eliminates brokerage bias

One of the biggest problems with using a traditional stockbroker is the bias they have based on the products they’re offering.

However, with an online trading platform, you get to choose the digital assets you want to invest in. As long as these assets are available on the platform, you can buy and sell them.

You can get access to more tools

Online trading platforms let you use free tools such as live chat, market analysis tools, and webinars.

These tools are useful for keeping up with the latest trading trends and making more informed decisions.

You can enjoy customer service

One of the biggest advantages of using an online trading platform is its exceptional customer service.

These companies have trained consultants that provide on-the-spot assistance and support.

How to Choose the Best Online Trading Platform

In this day and age, there are a lot of investment options available for everyone.

Before signing up with a new platform, you have to make sure it fits your needs. Here are the factors to consider:

Decide on your must-have features

Ask yourself what you’re looking for in an online trading platform.

Do you want an educational platform that offers trading tools and market analysis reports?

Or do you want a simple platform that lets you trade stocks and forex with the utmost ease?

Knowing your preferences will help you narrow down your options.

Make a shortlist of your top picks

Once you’ve decided on the features to look for, it’s time to compile a shortlist. This is where you should list down the online trading platforms that fit your requirements.

Once you have a list of online trading platforms, it’s time to take a closer look at each of them.

Start by visiting their website and learning more about their platform.

This will give you a better idea of what they have to offer. Then, find out what they’re charging and compare it with other online trading platforms.

Check reviews and feedback from actual customers

One of the best ways to find out if an online trading platform is right for you is to hear it from the source.

Check out their social media platforms to look for customer testimonials and reviews.

See what people have to say about their experience as an online trader.

Learn about their fees

All online trading platforms have some type of trading fee, even if it’s just a fraction of a percent.

Some platforms charge a flat rate while others charge a variable rate based on the asset class and total trade volume.

Look for online trading platforms with lower fees because this will give you the chance to invest more.

Demo the platform whenever possible

If you have time, try to demo the online trading platform before committing to using it.

This will give you the chance to see how their platform works and if it’s easy to use.

Thankfully, there are platforms that offer a trial period.

It’s also important to demo their customer support to see how responsive they are.

Are they quick to respond to questions and concerns?

Are they knowledgeable enough to answer your questions and concerns?

What tools and educational materials do they offer?

As an investor, it’s important that you have a solid understanding of what you’re investing in.

If you don’t have the knowledge and skills, you might end up making the wrong decision and losing your money.

Most of the best online trading platforms offer online educational materials which are useful for learning the basics of online investing.

Some of them also offer services such as live chat, online seminars, and webinars.

These services are useful for getting feedback and support from experienced brokers.

How easy is it to deposit and withdraw funds?

One of the most important aspects of an online trading platform is its user experience.

What happens if one day you need to deposit or withdraw your funds?

Most of the best online trading platforms offer instant digital asset deposits and withdrawals.

This means that you can start trading digital assets in just a few seconds.

How’s their customer service?

A good customer service team is crucial if you need help with anything, even if it’s just to ask a question.

It’s important that you find an online trading platform with excellent customer service because you’ll need their help when you’re stuck.

9 Best Online Trading Platforms in the Philippines

Now that you know the factors to consider when choosing an online trading platform, it’s time to look at some of the best online trading platforms in the Philippines.

We’ve listed the top online trading platforms that are currently available in the Philippines.

1. First Metro Securities

Established in 1994, this is one of the most reliable equity broking services and solutions in the country.

First Metro Securities is owned by First Metro Investment Corporation Metrobank Group, and they offer access to listed securities in the PSE.

If you’re still a beginner, their expert brokers can also assist you.

Minimum investment required to open an account:

No minimum initial deposit for PSBank and Metrobank account holders; P2,500 initial deposit

How to open an account:

Visit this page, fill up their form, and upload the necessary documents needed. Finally, you can deposit money in your account.

2. COL Financial

This is another trusted stockbroker in the country, and it is preferred by thousands of people because of how user-friendly the platform is.

They offer mutual funds, as well as stocks.

Minimum investment required to open an account:

• P1,000 for their starter account
• P25,000 for Plus account
• P1,000,000 for Premium account

How to open an account:

Prepare the required documents listed here, then sign up here. Finally, you can fund your account.

3. Philstocks

The goal of Philstocks is to make investing in the stock market more accessible for Filipinos.

Since 2001, it has been offering high-quality service and technology to allow traders, investors, and agents to do trades more conveniently.

Minimum investment required to open an account:

P5,000 initial deposit

How to open an account:

Register an account online, upload a valid ID, and fund your account.

4. Timson Securities

This leading stock brokerage firm has been catering to institutional and retail clients in the Philippines and abroad starting in 2013.

Aside from providing a user-friendly interface, they also have various analytics tools to serve their clients’ needs.

Minimum investment required to open an account:

P100,000

How to open an account:

Fill out the registration form here, submit the needed documents to helpdesk@timson.com, and send them to our office via courier at Suite 3310 Robinsons Equitable Tower ADB Avenue Ortigas, Pasig City.

Then, wait for your account to be approved.

5. AAA Equities

Since 1989, this platform has been committed to helping Filipinos grow their investment through the stock market.

They also offer Conditional Orders, which refer to automatic order triggers across your devices.

This can help you protect gains, buy breakouts, and cut losses even without watching the market.

Minimum investment required to open an account:

P50,000

How to open an account:

Register here, upload the required documents, and wait for your account to be activated within 1-2 days.

6. BPI Trade

This is a fully-integrated online trading platform of BPI Securities, which is the stock brokerage arm of the Bank of Philippine Islands.

Here, you can post online orders to the PSE.

Minimum investment required to open an account:

No minimum investment, but you are required to deposit funds in your BPI Trade Settlement Account or SETA. This requires an average daily balance of P500.

How to open an account:

Visit this page, or head over to 11F Ayala North Exchange, Tower 1, Ayala Ave. cor., Salcedo & Amorsolo Sts., San Lorenzo, Makati City for immediate processing.

7. 2TradeAsia

2TradeAsia started in the early 2000s. Since then, they have pioneered online stock trading and stood out because of their innovation and efficient online solutions.

Minimum investment required to open an account:

P25,000

How to open an account:

Open an account here, then submit the valid IDs required. Finally, submit the signed documents and requirements to Yapster E-Trade, Inc. (2TradeAsia.com), 17th Floor Lepanto Bldg. Paseo de Roxas, Makati City, or email it to applications@2tradeasia.com.

8. iTrade.ph

This is one of the first online platform providers in the country. They provide excellent service for clients who want to ensure long-term wealth.

Minimum investment required to open an account:

P100,000

How to open an account:

Sign up here, and submit documents to DA Market Securities, Inc., Unit 1105, PSE Tower, 5th Ave. Cor. 28th St., Bonifacio Global City, Taguig City, Philippines,1634, Tel. (02) 8887-6407 /8 887-5457 or email it to helpdesk@itrade.ph.

9. BDO Securities

BDO Securities (previously BDO Nomura) is a full-service brokerage firm that offers an expanded suite of offers, both local and global.

It is a wholly-owned subsidiary of one of the country’s top investment banks, BDO Capital & Investment Corporation.

Minimum investment required to open an account:

No minimum investment. However, you need to open a BDO savings account.

How to open an account:

Register here, then log in your username and password, then input and submit your OTP.