[How To] Open an Online Trading Account with Abacus Securities (MyTrade)

MyTrade

MyTrade is an online trading network associated with Abacus Securities Corporation where they offer one of the most advanced online trading platforms in the market. One of the advantages of setting up an online trading account with MyTrade is that signing up is relatively easy. Here’s how:

Steps

1. Enter account information

First, you need to fill out their online trading account opening form. You will first have to fill in your username, password, and your trading pin. Click here to open the form.

MyTrade

The first part of MyTrade online application forms.

On the second part of the form, you will be asked to fill in your personal information, such as your complete name, gender, date of birth, civil status, etc.

It is also necessary for you to provide your TIN number and two (2) government issued IDs. You will then need to accomplish your investor profile. In this step, make sure the information you put in is correct so that you don’t encounter any problems later on.

The minimum amount for opening an online trading account with MyTrade is ten thousand (10,000) pesos.

If you are living overseas, you may still open an online trading account. You would need to call their Customer Service at 667-8918 for you to receive detailed information on how to open an account overseas.

 

2. Review and print the forms

The next step, after completing your forms, is to review all the information you provided. After reviewing all the details on your form, you will need to print and sign your accomplished form. This would include your account opening form, online trading agreement, and the accompanying signature card.

 

3. Submit all the requirements

You will also be required to submit photocopies of your two (2) government issued IDs. After reviewing, printing and signing your forms, you will need to submit your printed documents to any of their office listed below nearest to you:

  • MyTrade Office
    2904-A East Tower,
    Philippine Stock Exchange Center,
    Exchange Road, Ortigas Center,
    Pasig City, 1600

  • Abacus Securities Manila Branch
    1104 Federal Tower,
    Dasmariñas Street, Binondo, Manila
  • Abacus Securities Cebu Branch
    5/F First Abacus Financial Center,
    Samar Loop corner Panay Road,
    Cebu Business Park, Cebu City
  • Abacus Securities Davao Branch
    GB CAM Building,
    Monteverde Street,
    Davao City

 

4. Wait for verification

Once you have submitted all the necessary documents needed to open your account, you will have to wait for customer service to verify all the credentials and information provided. Once this is done, they will inform you that your online trading account has been created.

 

5. Activate your account

In order to activate your account, you will need to fund it by paying the ten thousand (10,000) pesos minimum requirement.

There are four (4) ways to fund your account:

  • Online banking via merchant payment
  • Over-the-counter merchant payment 
  • Check deposit through principal or regional branches
  • Telegraphic transfer 

And here is the list of banks accredited by MyTrade:

  • BDO - Tektite, Ortigas branch
  • Metrobank - Xavier, Ortigas branch
  • RCBC - Garnet, Ortigas branch
  • BPI - Tektite, Ortigas branch
  • Union Bank - Tektite, Ortigas branch

Get a copy of the payment/deposit slip, fill up the form especially the company name (Abacus Securities Corporation), subscriber’s name/reference number (Client's Name or MyTrade Account Number) and the amount you wish to deposit. Make sure the slip is validated by the bank teller then send the validated slip to MyTrade via chat, email, or telefax.

Also, be sure to indicate your MyTrade account holder’s name and/or account number when making payments. This is to ensure your account would be properly credited.

 

6. Start trading

You can start trading once MyTrade has received manual or online confirmation that you have deposited the necessary amount needed to fund your account. MyTrade will immediately update your account balance.

If you have more questions, feel free to ask in the comments section below.

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