When you plan to start investing in a stock market, the first thing you have to do is to choose a stock broker. It is just like choosing a car you think is most suitable for you. You can thoroughly research the whole market in order to find the best car for you but require a medium or a venue to execute the actual transaction. The same strategy is needed when you want to buy stock in a stock market. You can select a company to invest in by conducting detailed research about its future prospects but you still need to have a broker to make the final transaction and purchase its stock from the stock market.
A stock broker is an agent who represents clients to buy or sell stocks and other securities. The term is applied to both companies that deal in securities and their employees, who technically are registered representatives working for the brokerage. To most investors, however, the broker is the person they call when they want to invest in or trade stocks. Most individual brokers work in offices far removed from the stock trading floors.
There are more than 100 licensed stock broker accredited by PSE. As an investor or trader into stock market you need to choose your broker that will fit and give you comfortable during trading time.
There are more than 100 licensed stock broker accredited by PSE. As an investor or trader into stock market you need to choose your broker that will fit and give you comfortable during trading time.
The types of broker in the Philippines can be classified into:
- Traditional Broker
- On-line Broker (internet base)
Traditional Broker is the old school of stock market but still more people preferred this rather than on-line, because of the direct advice from the broker and you can talk to them using phone.
On-line Broker is internet base broker the client can execute his order and access market information directly in just a click of the mouse.
Stock brokerage firms and individual stock brokers are regulated by the Securities and Exchange Commission and other specific markets. An individual broker must pass a test administered by concerned regulatory authorities and must complete his registration through brokerage firms, which in some cases require registration with a concerned securities commission.
Aside for being a facilitator for stock orders, stockbrokers services may vary with the following :
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On-line Broker is internet base broker the client can execute his order and access market information directly in just a click of the mouse.
Stock brokerage firms and individual stock brokers are regulated by the Securities and Exchange Commission and other specific markets. An individual broker must pass a test administered by concerned regulatory authorities and must complete his registration through brokerage firms, which in some cases require registration with a concerned securities commission.
Aside for being a facilitator for stock orders, stockbrokers services may vary with the following :
- Providing research and analysis of the market
- Provide advisory services
- Providing investor education by conducting seminars and market briefing with the market outlook.
- Handling institutional or corporate account and individuals retail customers.
P.S. 1. Bernard B. Anduyon is an OFW based in Qatar. He is a speaker and trainor for OFIE-M (Overseas Filipino Investors and Entrepreneur – Movement), a small group of Filipinos that advocates and teaches fellow OFWs to be investors and entrepreneurs. He is also a long-time member of Bo Sanchez' Truly Rich Club http://bernard.trulyrichclub.com.
P.S. 2. If you, your family or friends are based in Qatar, then I’m inviting you to attend our financial literacy talk series every 1st and 3rd Mondays of every month at Al Thumama, Doha. I give talks on diverse topics such as abundance mindset, financial planning, investing and entrepreneurship for Filipinos. I am also a trainor for PINOYWISE-ATIKHA, promoting awareness on issues affecting OFWs and their families as well as financial literacy.
If you want a financial coaching, you can send email to b_anduyon@yahoo.com
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https://www.facebook.com/OverseasFilipinoInvestorsEntrepreneursMovement
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