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Anybody trading through their US brokerage account from the Philippines ? Since i will have lots of free time once i retire, i am planning to do some stock and option trading from my future home base in the Philippines. I wonder if the internet access there is reliable and fast enough for these kind of activities!
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Yes, the internet connection is very fast here! It's not primitive. I have a friend here who trades stocks for clients and manages portfolio, but you have to have a lot of experience and assume some risk. He said his stocks have plummeted lately. I can ask him about it for you.
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"It takes far less effort to find and move to the society that has what you want than it does to try to reconstruct an existing society to match your standards." - Harry Browne, How I Found Freedom in an Unfree World
Yes you can do that. If one is daytrading, you have to be sure you are in an area where higher speed DSL is available. It can take a while to install and it it more expensive than the US for a slower service but it it doable. You can visit internet cafes if you do less frequent trading, keeping in mind the speed is slower as all the video game addicts will be sucking up bandwidth. Cafes are everywhere so that part is very easy and convenient. Getting a home installation can take weeks but definitely for someone who know what they are doing it is a great idea and ideal business.
Do they have Internet through cable in the Philippines? How common is cable in the Philippines? I have 2Mbyte Internet for trading in Mexico and it works fine.
Cable is usually more reliable then DSL. And 2 megabytes is fast enough to day trade futures. Does anyone here know the cable situation in the Philippines?
I'd be interested to know what city in the Philippines has the least brownouts/blackouts since that can really hamper online trading even if your using stoploss. Also, it seems like download speed increases north of manilla and in some parts of negros and mindanao.
Cable Internet is being rolled out by SKY cable but it's expensive. I don't know the rates off hand but I think it's only available in Manila area and maybe Cebu also. I use DSL, they offer up to 3mbps service now but the actual speeds are not anywhere close to that in my opinion. I use 2mbps with a Globe DSL subscription. After some initial problems for a few months after I moved to my new home it's been pretty reliable. IT tends to slow down on the weekends, holidays and when there is a large rain storm. But it's tolerable. I pay 1300P a month for 2mbps and a LL phone I hardly use.
Some of the companies are trying to roll out cheaper Internet DSL rates but with a downloadable cap. I suppose they are testing the market. I hope it doesn't become mainstream cause I download a lot of stuff off of Bittorrents.
It's only been in the last few years that DSL modem internet has been available to the masses. I remember having to use dial up still in 04-06 in a major portion of Makati city, ridiculous at the time.