Mutual Fund to be removed from online trading

BPI Trade is losing its teeth. After losing its fixed income trading platform, it will now complete it by losing its Mutual Fund platform. The new instructions which I perceive will be a manual procedure is not yet in my hands. Last month, I started an ALFM Peso mutual fund account and was hoping for automatic savings through online trading. Now I probably have to fall in line. Talk about interactivity.

Effectivity is next month, November 16. I cannot pull my money off the fund because of a 6 month holding period. Penalty is large and I probably have to pay tax even if it is a loss.

What’s next? I probably have to pay brokerage transfer fees. BPI Trade is probably being shut down the drain. Due to lack of marketing, BPI Trade is probably doomed to fail.


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