Stock trading via GCash set for nationwide rollout in 2023

·2 min read

MOBILE wallet GCash eyes to roll out stock market trading by year-end to select users followed by a nationwide launch in early 2023 with close to 300 publicly listed companies in the Philippine Stock Exchange (PSE) accessible on the platform.

It will introduce GStocks, an in-app stock trading platform, powered by one of the most reputable brokerages in the country, AB Capital Securities, and in collaboration with the PSE.

GCash president and chief executive officer (CEO) Martha Sazon said the new stock trading feature on the app primarily aims to introduce equities trading to more Filipinos.

“With GStocks on the GCash app, powered by AB Capital Securities and supported by the PSE, more Filipinos can now invest in stocks. Thanks to its game-changing capabilities, GStocks will democratize stock trading in the country by making it accessible to the 66 million users of GCash,” Sazon said.

AB Capital Group chairman and CEO Antonio Jose Periquet expressed confidence in the company’s alliance with GCash and PSE.

“Aside from making stock trading more accessible to Filipinos, this partnership aims to help ordinary Filipinos grow their wealth by offering them the opportunity to own shares of publicly listed Philippine companies. It’s next level accessibility, affordability, assistance, and experience,” said Periquet.

Meanwhile, PSE president and CEO Ramon Monzon believes that this partnership will further modernize Philippine stock trading and enable millions more Filipinos to become stock market investors, ultimately contributing to nation-building.

“Online trading has accelerated retail investor participation in the PSE in the last few years. This undertaking will take the dynamics of online trading to the next level. We are pleased to provide the trading technology that should fast track the growth of retail investors in the stock market,” Monzon said.

According to GCash head of wealth management Jong Layug, GStocks will be available to fully verified GCash users without the need for a bank account.

With a beginner-friendly user interface, it will give Filipinos easy access to local stocks via the GCash app. The payment platform will also be offering free top up and withdrawal services.

Users of GStocks will be able to buy and sell local shares in real time, monitor pending trades; monitor portfolio performance and returns via a dashboard; access stock watch list, direct research reports, real-time quotes, and live stock charts, as well as access analytics, news and disclosures and daily and weekly market reports.

The Philippine equities industry has a value turnover of P2.23 trillion spread across 1.6 million stock market accounts as of December 2021 with the majority of these traders aged from 18-44 and earning less than P500,000 per year, disproving the notion that stock trading is only for the old, rich and established investors. (with PR)