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If your application to open a COL Financial (online stockbroker) account has been approved, this tutorial is for you. 😉 You must be excited to buy your first stock, right? Then, let’s begin!
Take a look at the email confirmation from COL Financial that you received. It will inform you of your user name (account #) and password. The email also tells you to log in to COL’s website and change your password. Let’s do that here.
Type colfinancial.com on the address bar of your browser to go to COL Financial’s homepage.
Type your user name or account number and password provided in the email confirmation in the boxes on the upper right corner of COL Financial’s homepage (as shown in the image above) and click log in.
The image above is how your COL Financial account’s homepage will look like. You will see information details like your user name, account number and equity value (your initial deposit) at the upper left side of the page.
Let us now change your password.
Click the “Change Profile” tab as shown in the image below.
Then click “Edit” at the bottom of the page shown below.
Type the password indicated in your confirmation email in the box labeled “Current Password” then type in your chosen password in the two boxes labeled “New Password” and “Confirm New Password”. Done? Then click “Change Password”. Look at the image below for your guidance. 🙂
You will then be asked to re-log in using your new password. Congratulations! You can now buy your first stock online. 🙂
After re-logging in and making sure that the market is open (as shown in the upper right corner of the image above), click the “Trade” tab on your homepage and then click “Enter Order”. The page that you should see after should be like that of the image above.
You would be filling in the boxes labeled “Stock Code”, “# of Shares” and “Price” on this page. If you are a member of the Truly Rich Club, then you would already have an idea of what stock to buy. 😉 Not a member yet? Click this if you are interested to become a member.
But you can still use this tutorial even if you are not a Truly Rich Club member. This is for anyone who has a COL Financial account and would like to learn how to buy stocks using his account.
Click the “Stock Code” to get the 3-letter code of the company stock that you want to buy.
For this tutorial, I choose to buy DNL. After typing in DNL in the box labeled “Stock Code”, you will see the image below.
If buying a stock, you only need to look at the “Ask” column and the “Board Lot” or the minimum number of shares of a particular stock that you need to buy. Please refer to the image above.
Note: If you are a Truly Rich Club member, remember to only buy stocks if they are still at their Buy Below Prices.
Let us now fill in the box labeled “# of Shares”. For DNL, one is required to buy a minimum of 100 shares. If one wants to buy more, it should be in multiples of 100.
After completing the step above, next is to fill in the box labeled “Price”. The first row in the “Ask” column is the lowest price being asked by the sellers. In our example, the price of DNL is P10.54, After filling in the three boxes, click “Preview Order.”
The image below will appear.
You would see in the example that the gross amount of the order is P 1,054.00 (100 shares x P 10.54/share) and the total order is P 1076.56 after other charges are added to the order. Type in your password in the box labeled “Enter your password” to confirm the order.
To check if your order was executed, click the “Trading History” tab as shown below.
Click “Show Orders” at the bottom of the page and you will be taken to a page where you would see if your order was executed or just posted. Or, you can choose to wait for COL Financial’s email confirmation the following day to confirm that it was executed. If it was not executed, you will not receive any email from COL Financial. This means that there was no match to your order or all of the shares corresponding to the “Ask” price you quoted were already bought. If this happens, you can choose to wait to buy DNL at the same price (if a seller asks for the same the next time you log in to your account) or at a higher price or maybe a lower one depending on the “Ask” price of the sellers.
And you’re done! That was easy wasn’t it?
But, before we end this tutorial, please click on the “Portfolio” tab. The image below will appear.
The “Actual Balance” is the total amount that you have in your account and the “Buying Power” is the total amount that you can use to buy more stocks. The “Stock Position” shows all the stocks that you have in your account.
Hope that you learned from this tutorial.
Blessings and Happy Investing!
You can share this to your friends if you know that they are interested in investing, too!
P.S. Learn what stocks to buy, when to buy and when to sell by joining the the Truly Rich Club.
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