How to Buy and Sell in the Stock Market as Soon as You Click Your Order

 

Start

Now that you have a COL financial account, how do you buy and sell stocks online?

To start buying and selling of shares, you need to login to COL financial or to your existing broker. Then there is a section where you can buy or sell stock shares real time anywhere in the world as long as you have an internet connection. You need to enter the stock name, number of shares and price.

I created a pdf file to guide you on how to buy and sell shares.

Download it here.

 

What is a board lot, bid price, ask price and market price?


 

Board lot – this is the minimum number of shares you can buy or sell on a given price range. Take note that as the price of the stocks changes, its board lot also changes.

Market Price – The existing price of the stocks in the stock market.

Bid Price – This is the price that buyer are willing to pay to buy. This is usually lower than the market price.

Ask Price – This is the price that sellers are willing to receive to sell. This is usually equal or higher than the market price.

Note that there is a difference between the two. That is your Ask-Bid Price.

Below is a snapshot from COL Financial for BDO.

Ask Bid Stock Price

In the example above for BDO, you see 5 different bid prices:

  • 100.70
  • 100.60
  • 100.30
  • 100.20
  • 100.00.

You also see 5 different asking prices:

  • 101.00
  • 101.10
  • 101.40
  • 101.50
  • 101.60.

How to Buy and Sell  in the Stock Market as Soon as You Place Your Order?


 

If you want to sell or buy immediately, here is a cool tip. Do not use the market price. To buy, set your price equal to lowest ask price. To sell, set your price equal to highest bid price.

In our example above, to buy immediately, I will set my buying price same as the lowest asking price. I will buy at 101.00.

To sell immediately, I will set my price same as the highest bid. I will sell at 100.70.

 

Transaction Fees That You Pay When You Buy or Sell Stocks


 

stock transaction fees

If you are using COL financial like me, here are the fees:

The following lists the corresponding charges for buying and selling transactions:

For Buying:
a. Commission – 0.25% Of the gross trade amount
b. Value Added Tax (VAT) – 12% Of commission
c. Philippine Stock Exchange Transaction Fee (PSE Trans Fee) – 0.005% Of the gross trade amount
d. Securities Clearing Corporation of The Philippines Fee (SCCP) 0.01% Of the gross trade amount

For Selling:
a. Commission – 0.25% Of the gross trade amount
b. Value Added Tax (VAT) – 12% Of commission
c. Philippine Stock Exchange Transaction Fee (PSE Trans Fee) – 0.005% Of the gross trade amount
d. Securities Clearing Corporation of The Philippines Fee (SCCP) 0.01% Of the gross trade amount
e. Sales Tax No. of Shares X Price X 0.005

Note: The commission fee has a minimum charge of Php20 per transaction.
If you require a broker-assisted trade, the commission charge is .5% of the Gross Trade Amount.

Got questions, suggestions, recommendations or clarifications about Truly Rich Club or stock market. Just drop them on the comments below. I’ll do my best to answer them.