PSE: Stock Market Accounts Rose by 11.3% In 2023
The Philippine Stock Exchange (PSE) notes that online stock market accounts increased by 21.2% at the end of 2023.
The Philippine Stock Exchange (PSE) has revealed that the total number of stock market accounts increased to 1,906,019 by the end of 2023. This number is an 11.3% increase from 2022.
The increase has been credited to online platforms, but one has been singled out by the PSE: GCash’s stock investment service, which is known as GStocks PH. A statement from PSE said that GStocks PH “also pushed the share of online accounts to 80% of total stock market accounts.”
“Giving e-wallet holders direct access to the stock market is instrumental in our drive to increase retail investor participation in the market,” PSE President and CEO Ramon Monzon said.
Online stock market accounts totaled 1,525,768 at the end of 2023, a 21.2% increase from 2022.
Online Trading Participants
According to the PSE, all stock market transactions are carried out through stock brokerage firms or trading participants (TPs). These TPs, both traditional and online, must be accredited by PSE.
For those interested in doing stock market transactions through an online TP, PSE advises that the features of the platform should be checked first. It is also important to check if the platform is user-friendly and trustworthy.
The full list of online TPs accredited by PSE can be found here.
How to Buy and Sell Stocks via GStocks PH
GStocks PH makes both buying and selling stocks accessible and convenient via the GCash app. To buy a stock using the service, a GCash user simply has to tap Buy/Sell on the GStocks PH dashboard.
After this, the user has to select the stock to be purchased before tapping Buy. Once done, the user has to indicate the number of shares to be purchased. The user then needs to tap Preview Order. The details have to be confirmed first before the user can tap Place Order.
To sell a stock using the service, a user should likewise start from the GStocks PH dashboard and tap Buy/Sell. The user should then tap Portfolio in order to choose which stock should be sold. Once that is done, the user can now tap Sell.
This is where the user must indicate the number of shares to be sold before tapping Preview Orders. Again, details must be confirmed first before tapping Place Order.
