Monday, October 23, 2017
Close  
business / Headlines

Stock broker seeks more OFW clients

business / Headlines
  • share this

Stock broker seeks more OFW clients

By: - Reporter / @bendeveraINQ
/ 03:13 AM June 02, 2014

MANILA, Philippines—Brokerage firm Regina Capital Development Corp. hopes to attract more Filipinos abroad to invest in its online trading platform.

Luis A. Limlingan, Regina Capital head of business development, told reporters last week that with the newly launched Regina Capital Online Investing, or “ROI,” the brokerage could reel in at least 500 retail clients in its first year. About 60 percent of the new clients are expected to be Filipinos living or working overseas.

This target number is expected to make the online venture more viable as trading and maintenance costs may go down at that level, he said.

ADVERTISEMENT

Regina Capital chair Victor S. Limlingan noted that there is growing interest among overseas Filipino workers (OFWs) to invest in the stock market, apart from allocating money into bank savings or using the cash to purchase houses and vehicles.

“OFWs have disposable income. They want to diversify their investments,” said Luis.

The company specifically wants to tap Filipino seafarers, who earn much and have access to the Internet even when they’re aboard ships, according to Victor.

A minimum investment of about P200,000 a month would be required of investors, Luis said. The funds would have to be remitted to Regina Capital via bank transfer before the customer could trade in the stock market, he added.

The company said the trading options would be tailor-fit to the specific needs of investors.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Internet, Investments, Markets and Exchanges, online trading, overseas Filipino workers (OFWs), Personal finance, Regina Capital Development, Stock broker, stock trading, stocks
For feedback, complaints, or inquiries, contact us.




© Copyright 1997-2016 INQUIRER.net | All Rights Reserved