Robinhood is one of the hip household tech investing brands in the U.S. especially for quarantined millennials casually trying to invest in the stock market during the pandemic
Can Filipinos sign up?
Filipinos can’t get a robinhood account but by looking at the branding and the audience it is reaching, it seems to be the Uber-like experience for modern mobile investing.
It had popcorn-worthy controversies with the recent GameStop and WallStreetBets fiasco but we’ll discuss that in future posts.
Just check out their latest 30-second ad giving you that modern Apple-Underarmour-Shopify brand Vibe:
Now, ending our wishful thinking of delightful local stock market investing in PH, let’s jump to what’s available locally.
Allow me to share my quest to discover the best stock market mobile investing and trading platforms in the Philippines.
Why mobile? Aside from the work I do in product design and development, I usually benchmark a company’s mobile experience as a gauage on how the company leadersip allocates resources for IT infrastructure to scale, investments on customer experiences, and how future-friendly they are.
Here’s first four I’ve heard, signed up, and tried so far, in order of my account opening.
UTrade – their office was right across my former office at Dentsu. I’ve seen their banners on the way to Makati Jollyjeeps and decided to drop by and inquire. They have awesome daily newsletter research but not actively using it.
FirstMetroSec – first saw it from StockSmartsTV vlog. Their mobile app looked sleek and promising!
COL – my sister invited me to attend their free stock market session at Tektite / former PH Stocks Exchange Pasig office. “Tito / Tita brand” and no need to ship documents when you attend their seminars! Top of mind brand for local investors, adapter early to desktop digital, but evolved slow on mobile.
AAA Equities – I discovered this platform in the middle of 2020 lockdown while trading cryptocurrencies. Thought their auto cutloss feature was game-changing. Took a break from Crypto and tried their platform.
Other recommended platforms mentioned by trading and investing colleagues but I personally haven’t tried yet:
5. 2TradeAsia – seems promising. Haven’t tried yet
6. MyTrade – endorsed by the local community of TradersDen (formerly Trader’s Lounge) helping newbies and OFWs decipher the market with taglish and relatable content.
7. PhilStocksPH – mutual friends from trader chat groups are recently signing up to this platform. Looks like a small nimble digital team who left broker firms to start their own.
How about stock market platforms provided by banks?
You’ve noticed I didn’t even bother featuring or mentioning them above (FirstMetroSec – Metrobank as an exception). They might be a good starting point for easy fund transfer but don’t expect much on delightful mobile or digital experiences. If that’s the closest for you to start, consider it. But explore a different one right after. Retail banks have low incentive to innovate consumer mobile investing experience so you get sub-par experience. I’d personally consider any of the lists above once you’re ready.
The best one on mobile investing that I’ve personally used? FirstMetroSec.
The worst? HAH! Take a guess 😛 “The Friendster of stock market brokers in PH”
Why? Watch out for the full review soon!
What I’d recommend to my friends to open? Hmmm. BRB.