Rating Index
Pros
Offers a variety of financial instruments, including forex, CFDs, commodities, and indices.
Established history since 1962, providing a sense of experience in the banking sector.
Access to multiple deposit and withdrawal options, enhancing convenience for clients.
Cons
Unregulated status raises significant concerns about the safety and security of client funds.
Lacks popular trading platforms like MT4 or MT5, which may limit trading functionality for some users.
Negative reviews indicate poor customer service and responsiveness, leading to dissatisfaction among clients.
Metrobank broker Accounts
First Metro Securities Account Type
First Metro Securities (FirstMetroSec) offers a variety of account types to cater to different investment needs. The primary account types include:
- Online Trading Account: This account allows users to trade stocks and other securities listed on the Philippine Stock Exchange (PSE) through an online platform.
- Requirements:
- For Metrobank account holders: No initial deposit required.
- For other bank depositors: Minimum initial deposit of PHP 2,500.
Exchange-Traded Fund (ETF) Account: This account enables investors to invest in the First Metro Exchange-Traded Fund (FMETF), which tracks the performance of the PSE index, providing diversification benefits similar to mutual funds.
Mutual Fund Account: Through the Funds Mart service, investors can access a wide array of mutual funds from various fund houses in the Philippines.
Visit the Website: Go to First Metro Securities and click on the "Open Account" option.
Choose Account Type: Select the appropriate option based on your existing bank account:
- For Metrobank Account Holders: Initial deposit is waived.
- For Other Bank Depositors: An initial deposit of PHP 2,500 is required.
Fill Out Required Information: Complete the customer account information form with necessary details.
Submit Required Documents: Upload valid government-issued IDs (e.g., passport, driver's license) and proof of billing (e.g., utility bill).
Verification Process: Expect a video call from First Metro Securities (not required for Metrobank account holders).
Receive Confirmation: After the review of your documents, you will receive an email notification once your account has been activated, typically within two business days.
First Metro Securities Broker Account Opening Process
Opening an account with First Metro Securities is a straightforward process that can be completed online:
By following these steps, you can efficiently establish your trading account and begin your investment journey with First Metro Securities.
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