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 parent company of GCash, the #1 Finance Super App in the Philippines. It’s the first and only fintech company listed on the Philippine Stock Exchange under the “GCASH” ticker symbol. Through GCash, Mynt advances its vision of 'Finance for All' by making financial services more accessible to Filipinos. Mynt operates a portfolio of companies, including G-Xchange, Inc., the payments company responsible for the digital payments and electronic money activities in the GCash app, and Fuse Financing, Inc., the financing company for GCash that provides fair and digitally-enabled credit products and solutions.
Mynt, through its fintech operations, is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly focusing on safety & security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts.
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
