Investing in ETF's
The Philippines peso is losing value fast and I'm currently studying on the in and outs of investing on the S&P 500 through ETF's..
Apparently you have to use GoTrade or IBKR to purchase ETF's like VOO here in the Philippines.. However I've read that both GoTrade and IBKR are at risk of being banned here in the PH because they aren't regulated or something by SEC, and SEC already banned Binance so GoTrade and IBKR following suit is very possible, it's probably only a matter of when..
Basically 95% of the money I have is invested in Pag-IBIG MP2.. The 7% annual dividends is great but my issue is it's in Philippine Peso and I want a more stable currency like USD..
To make things simpler my questions would be:
How safe is GoTrade and IBKR actually? If they were to be banned here in the PH would that basically mean that my money invested there would be gone as well and I would no longer be able to access it?..
Are there more secure ways to invest in the S&P 500 than using an app? I'm 33 yrs old but I feel like such a boomer for saying that I don't really feel comfortable making transactions worth millions through a smartphone or PC.. I much prefer to do it in a physical establishment like in a Pag-IBIG branch or a bank..
Is there any form of customer service if by chance my account were to get hacked? If my GoTrade account with $100k were to get stolen, who and where exactly do I go to, to retrieve my stolen money?..