GCash, the country’s leading finance app, in
partnership with AB Capital Securities Inc. (ABSCI), has lifted the P20
broker’s commission fee in GStocks PH in a bid to further boost retail investor
activity in the local stock market.
GStocks PH now offers a 0.25% 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. Together with our partner, ABSCI, we believe further promoting stock
market investments can have a positive impact on the economy,” said GCash Vice
President and Group Head for New Businesses and Wealth Management Winsley
Bangit.
The country’s benchmark, 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 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 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 PSE. 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.
To start your investment journey, simply open
your GCash app, go to GInvest, and select GStocks PH. Next, click “AB Capital
Securities, Inc.” and explore which stocks you can buy at the tip of your
fingers.
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.