What are the COL Financial fees and charges?
Of course they will charge you some fees and charges in every trade you do (buy and sell stocks).
COL Financial (formerly known as Citiseconline) acts as your broker, so they will charge you a very low commission fee.
0.25% of the gross amount
Take note that the minimum commission is P20.
VAT is the value –added-tax that the Philippine Government impose.
12% of the commission
Philippine Stock Exchange (PSE) Transaction Fee
0.005% of the gross trade amount
Securities Clearing Corporation of The Philippines Fee (SCCP)
0.01 % of the gross trade amount
If you sell your stocks position, you need to pay sales tax also.
No of shares x Price x 0.005
Let me illustrate to you via a real life experience COL Financial fees and charges:
Last year I bought JGS 1,000 shares at P25.55 per share.
- Gross Amount = 1,000 x 25.55 = P25,550
- COL Financial Commission = 0.25% x 25,550 = 63.875
- VAT on COL Financial Commission = 12% x 63.875 = 7.665
- PSE Transaction Fee = 0.005%* 25,550 = 1.2775
- Stock Transaction Tax = 0.01% x 25,550 = 2.555
Overall Transaction = 25,625.3725
Don’t worry about these fees and charges because you will able to earn it back once your stock mature and reach it’s target price. So keep on investing my friend!
If you are an OFW and want to open an COL Financial account. Checkout this post on how to open a citiseconline account for OFW.
Hope I was able to impart some knowledge to you. Feel free to contact me anything about investing in COL Financials.
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