First Metro Securities sees 30% growth

Metrobank Group’s stockbrokerage firm First Metro Securities Brokerage Corp. expects its business growing 30 percent this year with the launch of three new investment products, including the online trading platform for mutual funds.

First Metro Securities President Gonzalo Ordoñez said the firm also unveiled margin financing product and mobile app V2.0.

“Half of our business is online (though) we still have a lot of institutional accounts and foreign accounts. The bread and butter of the company are shifting now from institutional to online. But today, it is still on the institutional side. But i think, that’s the growth that we see,” he told reporters.

Ordoñez expects more investors, particularly millennials, to avail of these investment products through its online trading system.

“Overall, we will grow about 30 percent this year, the bulk of that is online,” he said.

FundsMart offers new benefits and features, such as convenient one-stop access to mutual funds offered by the six biggest fund providers in the country, including First Metro Asset Management, Inc.

Ordoñez further said under the margin financing, investors who have at least P200,000 worth of marginable stocks can apply for an account. Marginable stocks are those that one can use as collateral.

“You can make much more money, you can double your money, but you can also lose your money. So it’s for the more sophisticated investors. The mutual funds are for the investors that are just entering the market,” he added. (PNA)

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