DOLLAR-DENOMINATED SECURITIES FAQS

What are Dollar-Denominated Securities (DDS)?

These are stocks or securities listed, traded, and settled in US Dollar denomination.
 
Why invest in DDS?

It is an alternative instrument for investors with US Dollars, potentially giving higher yields than regular USD time deposits, and at lower minimums compared to USD bonds/ROPs.
 
Who can trade DDS? 

Any local or foreign investor with a US Dollar Deposit Account with any commercial bank, preferably Metrobank or BDO, the designated settlement bank for DDS of SCCP*.
 
Are there additional requirements for foreigners?

If opening a new account, submit (1) Additional Information for Client and (2) FATCA for New Account (US citizens only). Click here for the Forms.
 
Can I buy DDS using my Peso trading account?

You have to open a separate USD trading account. Click HERE to open an account.
 
How do I fund my USD trading account?

An investor must have sufficient, good, and cleared funds in the account to cover the purchase price, commission and applicable costs to trade DDS. Funding options are:  

Via MetrobankDirect Pay Bills:

Step 1: Register a New Biller

1. Go to https://personal.metrobankdirect.com/ and log-in using your account details.
2. Click on PAY BILLS > REGISTER A NEW BILLER


3. Under Category, select Investments


4. Under Biller Name, choose First Metro Securities Brokerage CorpUSD

5. Enter Subscriber/Account Number, your FirstMetroSec Account Code (UOTAxxxxx).

Note: Please be cautious in entering your Account Code. Your Account Code can be found at the upper right-hand side of the main page of your FirstMetroSec online trading account (beside username). Reversal of credit to incorrect account code may take 5 to 7 business days.

6.  Enter Reference Code, your FirstMetroSec Account Code (UOTAxxxxx)

7. Click Continue and wait for the Transaction Acknowledgement.

Step 2: Transfer funds to your FMS account using Pay Bills

1. Click on PAY BILLS
2. Select the FMS Biller enrolled in Step 1 – First Metro Securities Brokerage CorpUSD (UOTAxxxxx)
3. Select the account to debit
4. Enter the amount you wish to transfer to your FirstMetroSec account
5. Select ‘Immediate’ as the Payment Type and click Continue

*Each fund transfer transaction using MetrobankDirect Bills Payment is FREE-OF-CHARGE.

Via BDO Pay Bills:

Step 1: Enroll Company/Biller

 

1. Go to https://online.bdo.com.ph and log-in using your account details
2. On the left menu bar, click on Enrollment Services
3. Under Choose an Option, select Company/Biller
4. Then click on Enroll

5. Under Company/Biller Name, choose First Metro Securities Brokerage Corp - USD
6. Enter Subscriber Number, your FMS Account Code (UOTAxxxxx)
7. Enter Subscriber Name, your FMS Account Name
8. Indicate your Preferred Nickname for the Company/Biller enrolled
9. For Select Channels For Enrollment, put a check on Online Banking
10. Then click Submit

Step 2: Transfer funds to your FMS account using Pay Bills


1. On the left menu bar, click on Financial Services
2. Under Choose an Option, select Bills Payment
3. Then click on Pay Bills
4. Fill out the Payment Details
5. For Pay from, choose the funding/source account
6. For Pay this Company/Biller, select the FMS Biller enrolled in Step 1 --- First Metro Securities Brokerage Corp-USD (UOTAxxxxx)
7. Enter the amount you wish to transfer to your FMS account
8. For Payment Schedule, select Immediately
9. Click Submit



*Each fund transfer transaction using BDO Online Banking is FREE-OF-CHARGE.

Discalimer: Kindly transfer funds within office hours (8:30AM-5:00PM) so that it will be reflected in your FirstMetroSec account within the day. If funds are transferred beyond office hours, please send a copy of the fund transfer receipt with your name and FirstMetroSec account code (UOTAxxxxx) to customerservice@firstmetrosec.com.ph. Funds transferred beyond office hours will be processed the following business day. 

Via Over-the-counter Bank Deposit:

Remember that dollar notes (cash) deposits require days to clearing, which is normally 5 to 7 days. You may deposit or transfer funds to the following accounts: 

Account Name

FIRST METRO SECURITIES BROKERAGE CORP.

Metrobank

SA #:  174-2-17400472-7

BDO

SA #:  10360-032-7881


*Dollar transfer charges (PDDTS) in the course of buying and selling the securities are for the account of the investor. Charges per bank varies.
 
To assign the deposit to your trading account, e-mail the scanned copy of deposit slip or Transaction Confirmation to customerservice@firstmetrosec.com.ph.
 
Can I use a dollar check to buy DDS?

For the meantime, only deposits and transfers to First Metro Securities’ account are accepted.
 
What are the applicable fees and taxes for DDS transactions?

PURCHASE: 

 

FEES AND CHARGES PESO ACCOUNT DOLLAR DENOMINATED
SECURITIES ACCOUNT
A. COMMISSION    
      1. Online Trading 0.25% of the gross value or Php20 per trade whichever is higher 0.25% of the gross value. or $0.50 per trade whichever is higher
      2. Broker Assisted Orders 0.75% of the gross value per trade or Php150 per day of activity whichever is higher 0.50% of the gross value per trade or $3.00 per day of activity whichever is higher
B. Value Added Tax 12% of the Commission 12% of the Commission
C. PSE Transaction Fee 0.005% of the gross trade value 0.005% of the gross trade value
D. SCCP Charges 0.01% of the gross trade value 0.01% of the gross trade value
E. Bank Transfer Charges (PDDTS) N/A Actual fees varies per bank

 
SALE: 

FEES AND CHARGES PESO ACCOUNT DOLLAR DENOMINATED
SECURITIES ACCOUNT
A. COMMISSION    
      1. Online Trading 0.25% of the gross value or Php20 per trade whichever is higher 0.25% of the gross value. or $0.50 per trade whichever is higher
      2. Broker Assisted Orders 0.75% of the gross value per trade or Php150 per day of activity whichever is higher 0.50% of the gross value per trade or $3.00 per day of activity whichever is higher
B. Value Added Tax 12% of the Commission 12% of the Commission
C. PSE Transaction Fee 0.005% of the gross trade value 0.005% of the gross trade value
D. SCCP Charges 0.01% of the gross trade value 0.01% of the gross trade value
E. Sales Transaction Tax 0.6% of the gross trade value 0.6% of the gross trade value
F. Bank Transfer Charges (PDDTS) N/A Actual fees varies per bank


Can I buy US dollars from the bank specifically for investing in DDS?

For the meantime, only deposits and transfers to First Metro Securities’ account are accepted.
 
What are the board lots for dollar transactions?

 

*The Securities Clearing Corp. of the Philippines (SCCP) facilitates the payment and transfer of securities among participants.