by Jan Michael Carpo, Reporter
In a significant move aimed at making stock trading more accessible and affordable, fintech platform GCash has recently announced a change for GStocks PH traders.
IMAGE CREDIT: https://www.gcash.com
The PhP20 broker commission fee has been eliminated, and replaced by a fixed commission rate of 0.25 per cent on all buy and sell transactions.
This adjustment follows the Security Exchange Commission’s (SEC) decision last April directing all players to remove the minimum commission stockbrokers could charge for transactions below PhP8,000.
With this new structure, GCash becomes one of the first trading platforms to adopt lower rates, potentially setting a new industry standard.
Fostering the growth of regional capital markets
The revised commission fee is expected to positively impact the economy by fostering the growth of regional capital markets and encouraging more retail investment in the stock exchange. This strategic move is seen as a step toward democratizing stock market investment, making it more accessible to a broader population segment.
Commenting on the new commission structure, Winsley Bangit, Vice President of GCash and Group Head for New Businesses and Wealth Management, stated in a press release, “With this move, investing in the stock market has become more accessible and affordable than ever before.”
Meanwhile, the Philippine stock market has experienced some volatility.
Earlier last week, local stocks recorded their third consecutive day of losses, bringing the market closer to correction territory. Despite the recent downturn, GCash has remained optimistic about the potential for growth and increased participation in the stock market.
In addition, Globe, the parent company of GCash, has indicated that the timing of the GCash Initial Public Offering (IPO) will depend on market conditions. This cautious approach reflects the company’s commitment to ensuring a successful and well-timed market entry.
The Philippine Stock Exchange (PSE) has previously recognized the positive impact of GStocks PH on the market, crediting the platform with increasing the number of online stock exchange accounts.
This development highlights GCash’s role in transforming the stock trading landscape in the Philippines, making it a more inclusive and user-friendly experience for all investors.