December 11, 2018: Philstocks Financial Inc. is a full-service brokerage firm based in Ortigas, Pasig. The firm makes the Philippine stock market more accessible to the investing public.
Established in 2001, the Philstocks Financial Inc. continues to aim for top quality service. With this, the traders, investors, and agents alike can now fund their Philstocks account using their Coins.ph account.
Partnering with Coins.ph opens up doors for Filipinos to indirectly buy stocks in the Philippine Stock Exchange using bitcoin and other cryptocurrencies. Coins.ph is a licensed virtual currency exchange company regulated by the Bangko Sentral ng Pilipinas, which means it is covered and strictly applying current AML and KYC laws.
How to Buy Stocks Online using Bitcoin and Crypto
You will need to open an account with Philstocks first before you can purchase stocks online using their platform. After successfully creating an account. You will need a verified and active Coins.ph account in order to purchase stocks using bitcoin and cryptocurrency.
What you will need:
- Active Coins.ph account (Register here!)
- Active and verified Philstocks account (Register here!)
- 2 primary IDs
- Customer Account Information Form
- Signature cards
- Initial investment of PHP 5000
- Peso/bitcoin/bitcoin cash/ethereum/ripple balance in your Coins.ph account
- If cryptocurrency, convert it back to PHP so that the funds will be in the PHP wallet
Step 1: Login to your Philstocks account
Login to your Philstocks account and then go to add funds. Choose Coins.ph.
After choosing the Coins.ph option choose your desired amount you want to put in your Philstocks account. Tap on Proceed.
Use your Coins.ph account and then Sign in.
After signing in, choose the wallet you want to use to pay for your Philstocks funding by tapping on the drop-down button. Tap on Pay xxx PHP once finished.
More about Philstocks
Philstocks Financial Inc. is established in 2001 and it is gearing towards a more technology-driven stock market. The firm currently has Philstocks mobile, an online trading platform for buying and selling stocks, broker-assisted trading, and stock certificate lodgement.
In order to start an account with Philstocks, you will need a PHP 5000 as a minimum investment. According to its official website, it will not represent a balance requirement but as a balance or funds to purchase stocks. This means this amount of money can be immediately used to buy stocks. Users of this platform can also sign up for a trial account that allows the users to experience and practice real-time trading. This option is free for seven days.
If you’re curious about fees, there is a broker’s commission of 0.0025 (0.25%) or PHP 20, whichever is higher.
This article originally appeared on BitPinas: How to Buy Stocks with Bitcoin Through Coins.ph
Images from Coins.ph