How To Invest In Oil In The Philippines: When looking at investing in commodities, one of the most popular questions is how to invest in oil in the Philippines. So today, we will be exploring how to invest in oil in the Philippines as a complete beginner and cover some additional questions you may have, such as is oil a good investment in the Philippines?
Table of Contents
How To Invest In Oil In The Philippines
1. Choose An Oil Broker
One of the first and most important steps when investing in oil in the Philippines is choosing which oil brokerage to use. Several different oil brokers can be used depending on whether you are a local or overseas Filipino worker. However, one of the most popular platforms investors use to invest in oil is Etoro.
Previously we have explored how to invest in wheat in the Philippines and explored the Etoro platform. In addition, we looked at how Etoro can be used to buy commodities such as oil in the Philippines in both of these articles. Therefore, both articles have been added in the links above for your reference.
When investing in oil in the Philippines, carefully choosing your investment platform is highly recommended. Many oil investment platforms will have terms and conditions that affect your oil investment. These factors can be on the topic of a minimum withdrawal amount, a minimal investment amount, or annual investment fees.
2. Create Your Profile And Submit Your Funds
Many years ago, when the Internet started to increase in popularity, it was incredibly easy to purchase commodities and other investments without proving further identification. However, as technology has progressed and anti-money laws have been updated, oil investment platforms are required by law to know their customer (KYC).
But what does this mean for you if you are looking to invest in oil in the Philippines? As an investor in oil, you will need to prove your identification and proof of address. Naturally, the process will vary depending on what commodities platform you choose. But if you are investing in oil with Etoro, you may wish to look at their verification guide for more information.
Once your profile has been set up and verified, you can submit your funds. Etoro is a popular platform to invest in oil in the Philippines, but unfortunately, they do not accept Filipino pesos. However, they accept U.S. dollars and other currencies and third-party payment gateways such as PayPal, which can be used to convert currencies.
When looking at how to invest in oil from the Philippines, a common question is, is Etoro available and legitimate? The platform is available in the Philippines and is not on the blocked countries list of Etoro. Furthermore, Etoro is an international investment platform trusted by millions of investors…
… Nevertheless, it’s always recommended to do your own research (DYOR) in any investment, especially when looking at how to invest in oil in the Philippines.
3. Choose Your Oil Asset And Purchase
The last stage when investing in oil is to purchase. Naturally, there are several areas to consider when investing in oil in the Philippines. The supply, demand, and external events are top priorities as these all impact the overall price, impacting whether an oil investment is good (or not) in the Philippines.
You may have heard the phrase – You make your money when you buy and not when you sell. Commonly this is used in the real estate industry. The same is true when investing in oil in the Philippines. It’s very difficult to know what the market will do next; however, demand, supply, and global events all impact the oil price – we will be speaking about these in the next section.
Is Oil A Good Investment In The Philippines
Commodities, in general, can be a fairly volatile market. An increase in demand, supply issues, or global conflict are all factors that impact the current oil price. Therefore, whether oil is a good or bad investment in the Philippines will depend on the investors’ short and long-term position and overall investment goal.
Nevertheless, oil is a commodity that’s incredibly popular, useful, and continuously in high demand. Therefore some investors suggest that investing in oil in the Philippines is a good investment due to the positive indicators. However, some disagree. Several professional investors see renewable forms of energy as a safer and better investment compared to oil.
Furthermore, when investing in oil in the Philippines, you may have seen an increase in recent times due to the Russian invasion of Ukraine. As a result, the commodity market fluctuated in the early days. For example, wheat saw a 20% gain within 24 hours. On the other hand, crude oil saw a 2-3% gain. Therefore, due to the recent developments, the commodity market has seen several jumps and dips in recent times.
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