Gotrade: How to Deposit Funds from the Philippines

It’s been a few weeks since I mentioned that I am testing out this new Stock Trading platform where your can purchase US and Foreign Stocks. I’ve been wanting to purchase US Stocks directly, but the other platforms don’t offer buying fractional shares to non-US residents. Gotrade is the only platform that I saw that offers non-US residents to trade fractional shares. You can dowload it now from the App Store or Google Playstore.

What are fractional shares?

Let’s say you want to buy Tesla Stocks. A Tesla Stock, let’s say, is around $600 per share. So in order for you to buy a Tesla stock, you need to have $600 to purchase and start trading. For Gotrade, if you don’t have that amount yet, you can still buy fractional shares of Tesla.

For Filipino users, I get this question in my blog and social media accounts when I posted about Gotrade.

How do I fund my Gotrade account?

Right now, these are the options: UnionBank, BPI or International Wire Transfer (deposit in USD).

You can either deposit instantly (just takes minutes) or you can wait for three days before funds are deposited.

For instant deposits, you can deposit up to USD1,000 at any one time instantly. The difference is that in Instant deposits, Gotrade’s clearing broker will credit your deposits immediately into your Gotrade account. They will advance the funds for you.

In order to see how much you can instantly deposit, tap on the “Instant deposit to Gotrade” option on the funding screen. The amount you see there is the outstanding limit available to you right now. It will be replenished to USD1,000 again once all your deposits reach the US – 3 business days after your last instant deposit.

Please see also that UnionBank and BPI have their respective fees.

To see your funding activity, you can go to this part of your app. You can see your total deposits, total withdrawals and net deposits to Gotrade.

So far, it’s so fun using Gotrade. By the way, the markets open at 9:30 pm since they are following the time markets are open in the US. They close at 4:30am.

Once you have funds in your Gotrade account, you can proceed to buying shares. I’ll discuss that in another article!

Again, here is my invitation code that I want to share with you: 458377. Just download the app in Google Playstore or Apple App Store.

Have fun trading!