I still encounter this question despite several resources available online. So here are the basics: Stock broker, settlement account, and funds. Stock broker . There are several stock brokers in the Philippines which offers both traditional and online trading. Traditional trading is when you call your agent and she/he will do the actual buying and selling of stocks in your account. Online trading is logging in to your broker account and doing the actual buying or selling of stocks Settlement bank account . These are existing or new bank accounts that you can use to transfer fund or receive funds from you stock broker account. Majority of local bank accounts can be used as a settlement account linked to specific stock broker accounts. Recently, payment apps can also be used in funding stock broker accounts. Funds . Of course in order to buy stocks you need cash. Initial funding varies per broker, minimums of 5,000; 1,000 or 10,000 are common among online stockbroker...
Savings, Protection, Investments, and Finance