COL Financial is the largest and most prominent online stock brokerage firm in the Philippines, established in 1999 (formerly known as Citiseconline.com). This broker’s function is to provide an execution platform where individuals can click “Buy” or “Sell” shares directly (in real-time) without the need to call a traditional broker, as well as access mutual funds.
Small individual investors can use the Philippine Stock Exchange to buy and sell shares through online stock brokers such as COL Financial and BDO Nomura. Investors had to contact their brokers before the internet, and the broker was responsible for purchasing shares on their behalf. This allows them to check stock prices.
Anyone, regardless of financial status, education level, or financial means, can open a stock trading account with COL Financial. Even the smallest investor can start trading stocks with an initial deposit of ₱1,000. With a COL Financial online stock trading account, you can do everything you need to buy and sell stocks online. You don’t need to hire a stockbroker or visit a stock exchange.
Opening a COL Financial Account Online
The fact that you can open a COL Financial account by visiting their website is great news. Previously, if you wanted to open a stock trading account, you had to download and mail an application form to a COL Financial office. Now, you can open an account online using your computer or mobile device. This is more efficient, faster, and more effective than waiting for approval via courier.
Here are the things that you need to prepare for the online registration:
- A valid government-issued ID
- Bank information
- SSS/GSIS/CRN and TIN (for employed or self-employed)
- Blank sheet of paper for signature capture
- Birth certificate (for minors only)
- Open the COL Financial online registration website at https://signup.colfinancial.com.
- First, click the “START” button. Then, read the online securities trading agreement and then click “AGREE.” Enter your first name, middle name (optional), last name, email address, and mobile number.
Complete the captcha by checking the “I’m not a robot” box, then click “NEXT.”
- Check your email for verification instructions. Click the “Verify Email” button in the email. Then, enter the one-time password or OTP you received via SMS, and click “VERIFY.”
- Next, click “NEXT” to proceed to the next step.
- You will receive another email notifying you that your email address and mobile number have been successfully verified. The email also contains a link to continue or cancel your application.
- You can abandon the application process at any time and return later. The system will automatically save your progress. Simply click the “Continue My Application” button in the verification email to resume from where you left off.
- Select your desired account type, whether individual, joint, or ITF. Click the “SELECT” button for your chosen account type, then click “NEXT.”
- Enter your personal information, including marital status, gender, date of birth, country of birth, citizenship, and place of residence. Click “NEXT.”
- Enter your contact information. Your email address and mobile phone number are already filled in, so enter your current and permanent addresses. Click “NEXT.”
- This step is where you select your employment status and enter your employment details. Fill in your job title or position, as well as the name and address of your company or business location, if applicable. You will also need to provide your Tax Identification Number (NPWP), National Identity Card (KTP), and National ID card number. Click “NEXT” to continue.
- Answer the list of “yes or no” questions as honestly as possible. When finished, click “NEXT.”
- Create your financial and investment profile. Select your estimated asset value, net worth, and annual income, and choose your source of funds. Click “NEXT.”
- Complete the Client Suitability Assessment (CSA). This is where COL Financial will assess your risk profile so they can offer you a more suitable funding list. Your risk profile will be displayed after answering the questions. Click “NEXT” when finished. For your withdrawal information, select your withdrawal option, whether credit to a bank account or check withdrawal.
- If you choose “Credit to Bank Account,” select the bank name and enter the bank branch and bank account number. Click “NEXT.”
- You will be asked to provide identification. Place your valid ID on a blank sheet of paper, sign your name three times, and then take a clear photo. Click “TAKE PHOTO” to take a photo or “UPLOAD FILE” to upload a photo.
You will also need to take a clear photo of the back of your ID card and upload it.
- Finally, take a clear selfie of yourself without sunglasses and upload it.
- Click “NEXT” when you have completed uploading all identification requirements. If you’re ready to submit your COL Financial account application, click “SUBMIT.” Otherwise, click “BACK” to return to the previous step.
Please allow 48 hours for your account to be activated. You will receive an email with an 8-digit COL reference number once your application is approved.
Video Verification Process
You will be asked to complete a video verification call, which typically takes no more than 3 minutes, as part of COL Financial’s Know Your Client (KYC) policy. You will receive an email from COL Financial with instructions on how to complete the video call and a link to book your appointment.
On the appointment page, select the date and time you would like to complete the video verification. Provide your name, email address, and mobile phone number.
Under “Additional Information,” select or enter your preferred video application (Skype, Viber, or IMO) and provide your Skype, Viber, or IMO number.
Once your appointment is confirmed, you will receive an email and SMS reminder leading up to your scheduled appointment time.
Be sure to have your ID ready before the video call. COL Financial will send you a message in the app approximately 5 minutes before your scheduled appointment time.
After you reply to the message, a COL Financial account representative will contact you.
You will be asked to hold your ID under your chin and answer a few questions. The video call typically takes less than 3 minutes.
You will receive a welcome email after the video verification call containing your COL Financial account number and instructions on how to fund your account. Unfunded accounts will expire after three months.
Adding Funds to Your COL Financial Account
If you have a bank account in the Philippines (BDO, BPI, Metrobank, Unionbank, Robinsons Bank, etc.), you can add funds without transaction fees through the Bills Payment menu.
To add funds to your COL Financial stock trading account via online bill pay, log in to your online banking account and create a bill payment transaction to “COL Financial Group, Inc.” as the biller.
For in-person bank transactions, fill out a payment slip at a partner bank and write “COL Financial Group, Inc.” as the company name and your COL account number as the customer or account number.
You can refer to this PDF and this page for complete instructions on how to fund your COL Financial account at each bank.
Once COL Financial confirms receipt of your funds, you will receive an activation email containing your account password. This email will contain your COL username and temporary password.
Opening an account with COL Financial is now much more convenient and efficient because the entire process—from filling in data and uploading documents to video KYC verification—can be done entirely online. We hope this helps!