Finance app GCash, in partnership with AB Capital Securities Inc. (ABCSI), has eliminated the P20 broker’s commission fee for transactions on GStocks PH, its trading platform. This move will lower barriers for retail investors and stimulate activity in the Philippine stock market.
GStocks PH now offers a flat commission rate of 0.25% on all buy and sell transactions. This change comes after the Securities and Exchange Commission (SEC) decision in April to scrap the minimum commission fees for transactions under P8,000. The move aligns with efforts to boost the country’s capital markets and support economic growth.
“With this change, investing in the stock market is more accessible and affordable than ever,” said Winsley Bangit, vice president and group head for New Businesses and Wealth Management at GCash.
Bangit emphasized that the partnership with ABCSI aims to attract more retail investors, enhance trading activity, and improve the user experience with more cost-efficient transactions.
The Philippine Stock Exchange Index (PSEi) is trading around 6,600, recovering from its 6,400 low in April. According to ABCSI head of Research Hazel Tan, the market outlook for the latter half of 2024 is optimistic, driven by expected interest rate cuts. Tan highlighted that platforms like GStocks PH offer an excellent opportunity for Filipinos to increase their investment returns early on.
GCash users can quickly start investing in over 280 local companies listed on the PSE through GStocks PH. The app provides an easy registration process, free top-ups, and access to educational content via its Learning Hub, making it simpler for users to understand financial concepts.