OPENING AN ACCOUNT

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How do I open an account?  

Any individual or entity who wishes to open an account with Imperial, De Guzman, Abalos & Co., Inc. is required to accomplish the NEW ACCOUNT OPENING FORMS and need to comply with the DOCUMENTATION REQUIREMENTS.

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What are the New Account Opening Forms and how do I get it?

1.      Customer Account Information Form (CAIF)

2.      Client Trading Agreement (CTA)

3.      Specimen Signature Card (SSC)

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→      Download:  Customer Account Information Form

→      Download:  Client Trading Agreement

→      Download:  Specimen Signature Card

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To begin the process, please download and print all the necessary forms. Once you have done so, kindly fill up, sign, and personally submit the forms completely, along with the required supporting documents, to our Office. Alternatively, you have the option to obtain all the opening forms directly from our Office during weekdays, between 8:00 am and 5:00 pm.

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What are the Documentation Requirements needed to submit in opening an account?

 

Individual Account

a.      Tax Identification Number and Tax Status

b.       Photocopies of two (2) valid photo-bearing ID with signature issued by an Official Authority (List of acceptable IDs) 

c.       Proof of Financial Capacity

 

Institutional Account

a.      Tax Identification Number and Tax Status

b.       Notarized Secretary's Certificate / Board Resolution authorizing the opening of the account

c.       S.E.C Registration, Articles of Incorporation and By-Laws and latest General Information Sheet which are Certified True Copy duly signed

          by the Authorized Signatory of the Corporation

d.       Latest Annual Report / Audited Financial Statement

e.        Photocopies of two (2) valid photo-bearing ID with signature issued by an Official Authority for each Authorized Signatory

 

For Foreign Clients or Non-Philippine Resident, the documentation requirements should be duly authenticated by Philippine Embassy or Consular Office where such foreign or non-Philippine resident is located. FATCA questionnaire will be required for U.S. Persons / residing in US, if applicable.

 

Why do I need to provide photocopies of my identification documents?

As part of the Know-Your-Client (KYC) policy of the Anti-Money Laundering Act and compliance with the Security Regulation Code Rule, we are required by law to identify all applicants and for verification purposes, you are also required to personally appear at our office. (Note: Your identification must exactly match the name you use on your application). 

 

Who can open an account and what is the minimum age requirement?

All Filipinos with the legal age of eighteen (18) years old can open an account. Foreigners of legal age can also open an account as long they can submit the signed NEW ACCOUNT OPENING FORMS and comply with the DOCUMENTATION REQUIREMENTS.

 

What types of accounts can I open?

You have the choice between an Individual, Joint or Institutional accounts. For the joint account, a separate Customer Account Information Form (CAIF) shall be obtained for each party.

 

What is the minimum investment required to open an account?

There is no minimum investment required.

 

How long does it take to set up my account?

You should receive your new account details in between 2-3 business days, of receiving your successfully completed application. You will be notified as soon as the application is approved and your account is ready to use.

 

Can I give someone else the authority to operate on my account?

Yes, you must complete the Authorized Person details in the CAIF to nominate someone else to operate your account.

 

 

TRADING AND FEES

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When can I place orders?
Orders can only be placed during trading hours. Orders placed via the phone outside trading hours will be queued to be entered in the market during the next trading session.

 

As guidelines, PSE Trading Hours and Market Phases are as follows:
 

                                       Time                                   Market Status

                                      8:45 AM                              National Anthem

                                      9:00 AM                              Pre-Open Auction Period

                                      9:15 AM                              Pre-Open No-Cancel Period

                                      9:30 AM                              Opening Period - Continuous Trading

                                      12:00 NN                            Market Recess

                                      1:30 PM                              Continuous Trading

                                      3:15 PM                              Pre-Close Auction Period

                                      3:18 PM                              Pre-Close No-Cancel Period

                                      3:20 PM                              Closing Period - Run-off/Trading-at-Last

                                      3:30 PM                              Market Close

 

 

 

What can I trade?

You can buy or sell any stock listed on the Philippine Stock Exchange (PSE) provided that stock is not suspended for trading.

 

Is there any limitation to the volume of stock I can buy?

We will accept buy orders for any volume of stock as long as the market rules permit and you have the corresponding cash to pay for the trade. However, for the initial transaction, you should make a cash deposit in advance equal to the value of shares of stocks you intent to purchase.

Additionally, equity trading is done by board lot or round lot system. The Board Lot Table determines the minimum number of shares an investor can buy or sell at a specific price range. Therefore, the minimum amount of initial investment varies and will depend on the market price of the stock as well as its corresponding board lot. Prices of stocks move through a scale of minimum price fluctuations.

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                                                                                                   Board Lot and Price Fluctuation Table

                   

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What and how much are the charges and fees I have to pay with every buy/ sell order executed?

Imperial, De Guzman, Abalos & Co., Inc. charges the following for a BUY and SELL transactions executed:

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→     Commission                                  :               regular rate is 1.5% or lower rate on gross value traded but not lower than minimum commission of P100.00                                     →     Value Added Tax                         :              12% is levied on the commission charge

→     PSE Transaction Fee                 :                0.05% on gross value traded

→     SCCP (Clearing) Fee                  :               0.01% on gross value traded

→     Stock Transaction Tax              :               0.60% on gross value traded (for SELL transaction only)

 

 

Can I email orders?

Yes! We are pleased to inform you that we do accept email orders. All you need to do is ensure that your email includes complete information and clear instructions regarding your order. Once we receive your email, we will promptly acknowledge it and proceed to process your order accordingly.

 

Do I receive a confirmation for my trades with IDGACI?

If you have traded with us, a confirmation buy or sell invoice will be sent to you, giving you the details of the trade (price, quantity, etc.).

 

How do I check my stock positions and account balances?

Please call our office or email us at imperdga@gmail.com.

 

Can I request for a certification of my holdings?
Yes, you may call us or send an e-mail instruction for request. A processing fee of Php100.00 for the first three (3) pages and Php10.00 for succeeding pages shall be charged to you.

 

Besides your Broker-Assisted service, do you have an online trading facility?

As of now, we do not have an online trading facility in place. However, we are constantly exploring opportunities to enhance our services, and it is possible that we may introduce an online trading platform in the near future.

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SETTLEMENTS

How do I pay for my purchases?

The payment should be made after three working days from the transaction date (T+3). This means that for transactions done on Monday, as an illustration, payment should be received by Thursday.

You may choose to pay your purchases or fund your account via cash/check deposit, electronic fund transfer, check pick up scheme or visit our office during business hours. In case you wish to deposit or fund transfer, please call or email us regarding our bank account details.

 

How can I withdraw the proceeds from my stock/equities sale or my free money balances?

As a matter of policy, all equity selling transactions have a settlement period of T+3. Hence, we always prepare a check payment for the proceeds of your stock sale unless we received special instructions from you. In any case, if you want to withdraw some proceeds from a stock sale or free money balances, inform us through email, phone call or download the request withdrawal form and fill it up and send it back to us. Once check payment was available, you can either pick it up at our office address or we can deposit the proceeds to your bank account provided with us.

→     Download:  Fund Withdrawal Form

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IMPORTANT ANNOUNCEMENT!!!

The Philippine Stock Exchange, Inc. (PSE) has officially announced that the Securities Clearing Corporation of the Philippines (SCCP) is targeting to migrate to the shortened T+2 settlement cycle starting from the trade date of August 24th, 2023. As a result of this change, all equity transactions, whether buying or selling, will be settled within two days (T+2) instead of the current three-day (T+3) period.

 

Under the New Settlement Cycle, the settlement will take place two business days after the day the order executes or T+2 (trade day + 2 business days). For example, if you were to execute a buy or sell order on Monday, the settlement would occur on Wednesday. 

 

Please note that starting from August 24, 2023, all trades will adhere to the T+2 settlement basis. Consequently, equities trades executed on August 24, 2023, will be settled on August 29, 2023, with consideration for the national holiday on August 28, 2023 (National Heroes Day). The last T+3 trades executed on August 23, 2023, will also be settled on August 29, 2023. Simultaneously, the first T+2 trades executed on August 24, 2023, will share the same settlement date of August 29, 2023. After the August 29, 2023 settlement date, all subsequent trades will be subject to the T+2 settlement cycle. Please refer to this memo: CN-2023-0031

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TRANSFER OF STOCK HOLDINGS

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Can I deposit my existing certificates?
Yes, you may deposit your endorsed/signed stock certificates to us together with a photocopy of your two valid government-issued IDs. Lodgement is a process of conversion of certificated shared into scrip-less shares. Fill out the Lodgement Request Form. A lodgement fee of Php115.00 per stock company and a cancellation fee of Php25.00 per stock certificate will be charged by its respective Stock Transfer Office plus a minimal facilitation fee.

 

Can I request a stock certificate for my existing shares?
Yes, you can convert your (scrip-less) shares into a stock certificate. Upliftment means withdrawing of your (scrip-less) shares from your stock portfolio with us. To complete the withdrawal request, you also need to submit a duly accomplished and signed signature card per company. This process might take a minimum of 45 days depending on the issuer's Stock Transfer Office. An upliftment fee of Php200.00 per certificate will be paid to Stock Transfer Office plus a minimal facilitation fee.

→      Download:  Upliftment Request Form

→      Download:  Specimen Signature Card

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How do I transfer my holdings from another broker to IDGACI or vice-versa?

Download and fill out the EQ Trade Request Form. Once we receive the completed form, we will contact your current broker and get your holdings/positions transferred. The transfer will be done electronically or by the so-called EQ Trade. Alternatively, you can also instruct your current broker to transfer your holdings/positions over Imperial, De Guzman, Abalos & Co., Inc. You can also transfer you holding with us to another chosen broker. An EQ Trade fee of Php100.00 per stock/company shall be charge to you. Electronic transfers may take one to three working days or depending on the counter execution of another broker.

→     Download:  EQ Trade Request Form

 

 

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For other concerns not covered on this FAQS, please email us at imperdga@gmail.com.

Everything You Need to Know