GCash, the country’s leading finance app, and its partner AB Capital Securities Inc. (ABSCI) has lifted the P20 broker’s commission fee in GStocks PH in a bid to further boost retail investor trading activity in the local stock market.
In a statement, the firm said GStocks PH now offers a 0.25 percent flat commission fee on all buy and sell transactions – making it one of the first trading platforms to implement lower fees.
This move follows the Security Exchange Commission’s (SEC) decision earlier in April to remove the minimum commission that stockbrokers may charge their customers for transactions below P8,000.
This initiative aims to stimulate activity in the local stock market – aligned with a shared goal of developing the country’s capital markets and boosting economic growth.
“With this move, investing in the stock market has been more accessible and affordable than ever before. Through GStocks PH, GCash aims to attract more retail investors, boost trading activity, and enhance user experience by offering more cost-efficient transactions on the platform,” said GCash Vice President and Group Head for New Businesses and Wealth Management Winsley Bangit.
Bangit added that, “Together with our partner, ABSCI, we believe further promoting stock market investments can have a positive impact on the economy.”
According to ABCSI, the market outlook for the second half of 2024 is positive, driven by expected interest rate cuts. This development creates a good opportunity for investors to accumulate more stocks.
“Filipinos can take advantage of investment platforms such as GStocks PH, as it will enable them to maximize their earnings potential early on,” said ABCSI Head of Research Hazel Tan.
With GStocks PH, GCash said its users can easily unlock the world of investing in local stocks. With just their GCash app, users can register in a matter of minutes, top up quickly and free of charge, and seamlessly invest in over 280 local companies listed on the Philippine Stock Exchange.
Using the newest wealth tool of GCash, the Learning Hub, users can also access valuable and bite-sized content to better grasp financial concepts. GCash users can access the Learning Hub by going to GInvest from the main dashboard.
As the country’s pioneer in diverse and inclusive finance, GCash and its partners remain steadfast in spearheading efforts that will diversify Filipino’s access to investments and help them build a more secure financial future in line with their nation-building and financial inclusion missions.