Originally Posted by
entrepreneur101
using ko traditional broker,kapoy tawag2 sa traditional broker gud,
sir unsa paagi sa payment citiseconline? ganahan ko mag online para paspas
Hi miss,
The way Citisec works is that you deposit to your online trading account through a bank. Their website has complete instructions. The money sits in your account and is shown as buying power. When you buy stocks, the value is reflected in your portfolio as stocks and the buying power adjusted automatically. Once you sell, the proceeds go back to your buying power automatically.
The advantage to this is there's no need to wait for the 3 days after transaction that normally happens with traditional brokers and you can buy and sell as often as you want even on the same trading day, and conveniently too. But the biggest advantage really is that you save a lot because of lower fees.
Also, tracking is way easier coz portfolio reports are incorporated in the website. Plus, if you get cash dividends, they are reflected automatically in your cash/buying power.
I could go on. But I also like my traditional broker. I like the idea of being able to text my broker for trade orders even when I'm away from the computer. Plus I can buy stocks with no cash and pay 2 days later when they collect it personally. (ATR Kim Eng uses messengers to collect payments and also to deliver checks straight to your office) Also, ATR's reports are superb in quality.
For these and more reasons, I'm using both brokers at the same time. About 80% of my total portfolio is online though and the rest with ATR. Hope that helps.