GCash, the country’s leading finance app, and its partner AB Capital Securities Inc. (ABSCI) have removed the P20 broker’s commission fee in GStocks PH, aiming to boost retail investor trading activity in the local stock market.
GStocks PH now offers a 0.25% flat commission fee on all buy and sell transactions, claiming in a statement to be one of the first trading platforms to implement such reduced fees.
This adjustment follows the Security Exchange Commission’s (SEC) decision earlier in April to eliminate the minimum commission stockbrokers may charge for transactions below P8,000. The initiative is designed to stimulate activity in the local stock market, aligning with the 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.
“Together with our partner, ABSCI, we believe further promoting stock market investments can have a positive impact on the economy,”
Winsley added.
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 maximise their earnings potential early on,”
said ABCSI Head of Research, Hazel Tan.
With GStocks PH, GCash users can easily local stock investments in a more straightforward manner. Using just the GCash app, users can register fast, top up free of charge, and invest in over 280 local companies listed on the Philippine Stock Exchange (PSE).
Additionally, the GCash Learning Hub provides users with valuable and concise content to better understand financial concepts, accessible through GInvest on the main dashboard.
Featured image credit: Edited from Freepik
