To start investing in the US stock market, it’s not necessary that you’ve traded in PSE before. You can buy stocks in the US without owning local company stocks. Technically speaking, the process is the same. The main difference lies in the stocks you will buy.
I’ve shared it a couple of time on my YouTube channel how you can actually invest in the US stock market even if you are in the Philippines. I am now sharing with you the step by step process in this blog so you can save time and have a hassle-free investing in US companies.
In this blog, I will share with you how you can invest in the US stock market using eToro as I am using this broker as well. eToro has an application that you can download on your smartphone. You can either download the app or go to its website using a computer or a laptop. To start the registration process, you can click here.
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The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Once you are on the website or application, start the registration process until you complete it. The usual process is that you will provide your personal information, such as your name, address, TIN, phone number, email, and proof of identification. You need at least one valid ID to register with eToro. You can submit your passport, UMID, TIN ID, Driver’s license, and so on. You can see a list of acceptable IDs during the registration process. To invest in US Stocks – Click this.
TIP: Make sure that your name and address match the information on the valid ID that you are going to submit. Else, you will need to send another proof that you are actually the person on the valid ID or that you are domiciled or residing at the address you provided. Don’t make it complicated!
After completing the registration process, wait for the verification of your account. In my experience, it didn’t take a day for my account to be verified. I just waited for a couple of hours when I started with eToro. However, I see people on Facebook who are having a hard time with the verification process. Some have issues with their proof of address or valid IDs. This is why I suggested earlier that your name and address should match what’s on your ID.
Another TIP: Use your passport for hassle-free registration and verification!
The last step is funding your account. Currently, eToro’s minimum deposit is $200. This is more or less 10,000 in Philippine money. For as low as 10,000 pesos, you can already start investing in US companies. There were instances at the start of 2021 where eToro changed its minimum deposit to $1,000 then $500. Per their disclosure, it was caused by the increasing number of new users. I think eToro had to increase the minimum deposit so they could meet the fees for allowing new users to use its platform.
Once you’ve funded your account, it’s time to buy stocks!