GCash, in partnership with AB Capital Securities Inc. (ABSCI), has removed the P20 broker’s commission fee on GStocks PH, introducing a flat 0.25% commission fee on all buy and sell transactions to encourage retail investor activity in the local stock market.
The move follows the Security Exchange Commission’s (SEC) decision in April to eliminate the minimum commission stockbrokers can charge for transactions below P8,000. This initiative aims to stimulate activity in the local stock market, aligned with the 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. Together with our partner, ABSCI, we believe further promoting stock market investments can have a positive impact on the economy,” said Winsley Bangit, GCash Vice President and Group Head for New Businesses and Wealth Management, in a press statement.
The Philippine Stock Exchange Index (PSEi) has been trading around the 6,600 level, rebounding from its 6,400 low in April this year.
According to ABSCI, 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 Hazel Tan, ABCSI Head of Research.
GCash users can easily invest in local stocks through GStocks PH by registering in minutes, topping up quickly and free of charge, and accessing over 280 local companies listed on the PSE. GCash’s Learning Hub provides valuable, bite-sized content to help users better grasp financial concepts.
To start investing, users can open their GCash app, go to GInvest, select GStocks PH, click “AB Capital Securities, Inc.,” and explore available stocks.
As a pioneer in diverse and inclusive finance, GCash and its partners remain committed to diversifying Filipino access to investments and helping build a more secure financial future, in line with their nation-building and financial inclusion missions.
GCash, the leading finance app in the Philippines, offers a range of financial services, including payments, savings, loans, insurance, and investments. Its partnership with AB Capital Securities Inc., a prominent brokerage firm, aims to democratize access to the stock market and promote financial literacy among Filipinos.
