First Metro Securities Brokerage Corp. has unveiled a new online platform to invest in mutual funds and a new window to allow stock investors to boost their purchasing power using “margin” account trading.
The new mutual fund platform “Fundsmart” and the margin account trading facility were launched by the Metrobank group’s securities brokerage arm last week alongside the introduction of an upgraded mobile trading app.
First Metro Securities president Gonzalo Ordoñez said that using the web-based trading platform of the stockbrokerage, investors could now invest in more than 25 peso-denominated mutual funds of the six leading fund houses in the country: ALFM, ATR Asset Management, First Metro Asset Management, Philam Asset Management Inc., Philequity and Sun Life Asset Management.
Fundsmart, First Metro Securities’ one-stop-shop mutual fund investment facility, allows investors to gain access to sophisticated tools for analyzing, screening and comparing mutual funds most suitable to one’s risk appetite.
The brokerage house requires a minimum deposit of P5,000 to open a trading account. The minimum deposit is waived for those with existing bank accounts with Metrobank and Philippine Savings Bank.
“We believe that the keys to successful investing are the freedom to choose and having the right tools at your disposal. That is why we put together in one place everything you need to build a solid portfolio of stocks and mutual funds—powerful interactive solutions, access to all the best performing funds and a consolidated portfolio view,” a First Metro Securities briefer said.
The new margin trading facility, on the other hand, allows investors to buy stocks using securities they already own as collateral.
“You double your buying power by paying half the cost then automatically borrowing rest,” Ordonez said.
Ordonez said the interest rate charged by First Metro Sec at 0.9 percent for this margin account is the lowest in the industry at 0.9 percent – lower than credit cards and other unsecured loans.
Margin trading is suitable for investors with greater risk appetite and more experience in trading. Minimum initial deposit of P200,000 is required to open a margin account.
Meanwhile, First Metro Sec’s online platform allows investors to trade anytime anywhere using web and mobile trading platforms. The online platform facilitates real-time market data streaming, checking of trading positions and balances and convenient trade execution. It also allows investors to view charts with technical indicators and create watchlists.—DORIS DUMLAO-ABADILLA