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.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
