If you’re from the Philippines and you’re planning on trading on the U.S. stock market, or probably invest in U.S. stocks and index funds to diversify your portfolio probably due to economic uncertainty, we got you covered.
So, where can you trade and invest from the Philippines?
Table of Contents:
- eToro quick introduction
- How to create an account
- Deposit methods
- How to make a deposit
- How to buy stocks
- Final thoughts
eToro (Europe) Ltd., which was started by brothers Yoni and Ronen Assia in January of 2007, is a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.
eToro is currently known as the biggest “social trading” platform. Whereas people can follow other traders and automatically copy their trades.
While eToro is mostly known for social trading, you can definitely also either trade on your own, or invest in stocks, ETFs, and cryptocurrencies for the long-term instead.
If you don’t have an eToro account yet, you can effortlessly create an account in just a few minutes here:
Disclaimer: 75% of retail CFD accounts lose money. Trade with caution.
You’re far likely to lose money day-trading compared to long-term investing.
How to Create an eToro account
- Head over to eToro’s website here.
- Click on the Join Now button.
- Enter in the required information, and register your account.
- Once registered, head over to your account’s settings, and fill up the necessary information: Personal Details, Phone Verification, Proof of Identity, Proof of Address, and Tax ID.
- Once you’re finished, you can now deposit some money. To deposit, just click on the blue Deposit Funds button on the sidebar.
- Local Online Banking(BDO, BPI, Metrobank, Landbank, Maybank, RCBC, Robinsonsbank, Unionbank)
- Credit/Debit Card
- Wire Transfer
NOTE: All your Philippine Peso(PHP) deposits will be converted into US Dollars(USD).
How to Make a Deposit
Local Online Banking (dragonpay)
For this example, we’re going to deposit through BPI, but the process should be the same for any Philippine bank.
- Click on the blue
Deposit Funds button on the left sidebar.
- Type in your preferred amount. For this example, we’re going to deposit
which will then be automatically converted to
- Select your bank, for this case we’re going to use BPI.
- Enter in your online banking login credentials.
- Enter in the required information. In this case, BPI’s one-time password.
- We have now successfully deposited
- Click on the blue Deposit Funds button on the left sidebar.
- Change the payment method to PayPal, enter the amount, then click on Submit.
- You will then be redirected to PayPal’s page. Choose your method of payment, click on Continue, then click on Pay Now.
Your deposit should then immediately be reflected onto your eToro account.
How to Buy Stocks
- on eToro’s search bar at the top of the page or app, type in the stock you want to trade.
- Click on the blue Trade button.
- If you only want to buy stocks, set the leverage to X1.
- Set your preferred stop loss amount.
- Set your take profit amount.
- Click on the blue Set Order button to execute the buy order.
Always remember that trading and investing has some risks, and you’re never guaranteed to make money. Always trade cautiously, and always think long and hard when planning on investing on a certain company or asset.