Chapter 3 of 7 · 5 min read
You cannot buy shares from the exchange directly. Here is what a broker does, what the application asks for, and how eight of the common ones differ.
What you'll learn
Key terms in this chapter
In one sentence: you cannot buy shares from the exchange or from PSEye, only through a PSE-accredited broker, and choosing one is mostly a question of which bank you already use and how much hand-holding you want.
Every order on the PSE goes through a PSE-accredited stockbroker (the exchange calls them “Trading Participants”). There is no way to buy shares directly from the exchange, from a listed company, or from PSEye. The broker holds your cash, submits your order to the exchange, and keeps the record of the shares you own.
This is also the reason a tracker and a broker are different things. PSEye can show you every listed company, what it's worth and how it's been trading, but it cannot place an order, hold your money, or tell you what your account is worth. That part is always your broker's.
In practice, opening an account with most online brokers looks something like this:
Requirements, fees, and minimum deposits vary by broker and change over time, so confirm current numbers directly with whichever one you're considering before applying. That is deliberate on this page: any peso figure printed here would eventually go stale and mislead someone.
| Broker | Account type | Good to know |
|---|---|---|
| COL Financial | Standalone (any bank) | The Philippines' oldest and largest online-only broker, with a deep bench of free research reports, screeners, and beginner guides built into the platform. |
| BPI Trade | Bank-linked (BPI) | Run by BPI. Most convenient if you already hold a BPI account, since funding and withdrawing tends to be fastest between accounts at the same bank. |
| First Metro Sec (FirstMetroSec) | Bank-linked (Metrobank) | Backed by Metrobank's First Metro Investment Corp, the same bank-linked convenience as BPI Trade, for Metrobank clients. |
| BDO Nomura | Bank-linked (BDO) | BDO's online trading arm. Same bank-linked convenience if you already bank with BDO. |
| DragonFi | Mobile app (any bank) | A mobile-first trading app aimed squarely at first-time and younger investors, with an account-opening flow built for a phone screen and historically low or zero-commission promotions. Worth checking it supports the order types you want before committing. |
| Maybank Securities | Standalone (any bank) | One of the longest-running brokers in the market (formerly ATR Kim Eng), offering both self-service online trading and broker-assisted service for a more hands-on relationship. |
| Philstocks (Wealth Securities) | Standalone (any bank) | Historically positioned toward smaller, first-time accounts. Worth comparing if a lower initial deposit matters most to you. |
| AAA Southeast Equities | Standalone (any bank) | Another standalone option with its own mobile app, independent of any particular bank relationship. |
Not an exhaustive list, and not a recommendation of any one broker over another, just the more commonly used online options, to give you a starting point. PSE's own website publishes the full, current list of accredited trading participants.
A bank-linked broker is usually the path of least friction if you already bank with that institution, since funds move between accounts fastest. A standalone broker or app works the same regardless of which bank you use, and tends to compete on research tools, commission, or the quality of the mobile experience instead.
Three questions settle it for most first-time investors: what is the minimum deposit, what does a single trade cost including the minimum commission fee, and does the platform let you place a limit order (the next chapter explains why that last one matters). Ask all three before applying, because they are much harder to change once your money is in.
Good to know
For most online brokers, a few business days once you've submitted a valid government ID and the other standard KYC requirements. Some approve an account within 24-48 hours, though funding it and placing a first order can take a little longer depending on your bank transfer method.
Generally yes. Non-Filipino investors and overseas Filipino workers can typically open a brokerage account, subject to whatever foreign-ownership limits apply to a given company and the specific requirements of the broker involved. Some brokers offer account types built specifically for OFWs or non-resident applicants, so it's worth asking directly rather than assuming a standard local account applies.
This guide is general information, not personalized advice. More on what PSEye is and isn't.