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Filipino Internet Usage Inspires a Local Trading Revolution

Luis Reginaldo Medilo by Luis Reginaldo Medilo
December 6, 2018
in Internet
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Trading used to be an industry reserved for the super-rich or the super-connected. Without having an “in”, the average person couldn’t invest in stocks and shares like the professionals. However, just as technology has made it easier for use to connect with friends, consume entertainment and find a bargain, it’s also opened up the trading industry. For those with financial interests, the move makes sense. According to the statistics, the Philippines is now 12th in the global rankings when it comes to internet users. Up three places from where it was in 2017, the country now has 63% penetration.

Increased Internet Access Leads to Increased Opportunities

stock market quotes
“Stock market quotes in newspaper” (CC BY 2.0) by AndreasPoike

In tandem with increased usage, Makati City Rep. Luis Campos Jr has been pushing Congress to pass House Bill 5337. If successful, the bill will categorise high-speed internet access as a basic telecommunications service. In other words, more people would get easier access to a faster internet connection. As a market, the Philippines is in a positive place and, in legislation passes, things will only improve. The upshot of this is that industries such as online trading now have a much greater audience to target.

For individuals, the influx of new technology means that Wolf of Wall Street-style trading is not only possible but accessible to almost everyone. Indeed, through an online share dealing platform, users can get access to a host of features designed to make trading easier to understand. From live market data and tutorials to 24/5 support, low fees and direct access to thousands of investment options, the market is filled with opportunities. Naturally, without security, increased access loses its appeal.

Regulations and Technology Provide a Safety Net

phone security
“Phone security” (CC BY 2.0) by Ervins Strauhmanis

Just as leading investment banks such as Goldman Sachs are regulated, so too are today’s online trading platforms. Leading the way in terms of standards are the UK’s Financial Conduct Authority (FCA) and the US Financial Industry Regulatory Authority (FINRA). Working in tandem with these authorities to ensure safety on a local level are the Philippine Securities and Exchange Commission (SEC) and the Bureau of Treasury. Between strict regulations and online security features such as SSL-encrypted software, investors have little cause for concern.

When you piece all of these elements together, trading is no longer a financial playground dominated by the wealthy. Although the average online investor might not be making millions, they certainly have the ability to speculate on commodities, exchanges rates and more like the experts. What’s more, the process is easier than it’s ever been. By using the power of online and mobile technology, sifting through large quantities of data, making payments and executing trades can all be down at the click (or touch) of a button. That, in essence, has revolutionised the financial sector and, in turn, given Filipinos more opportunities to get something more from the internet.

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Luis Reginaldo Medilo

Luis Reginaldo Medilo

Luis is the founder and editor of Tech Pilipinas. He is passionate about technology and how it can change the world for the better.

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