Two Million Filipinos and Counting
The Philippine Stock Exchange has never seen retail participation like this. GCash’s stock trading platform, GStocks PH, has registered more than two million users, making it the single largest contributor to online trades on the local bourse. According to PSE data, total stock market accounts grew by 27 percent to 3.64 million in 2025 from 2.86 million in 2024, with 99 percent—or 3.61 million—belonging to retail investors. GStocks alone accounts for approximately 68 percent of the 3.22 million online retail accounts on the exchange. This is not a gradual trend; it is a structural transformation of who owns Philippine equities.
The AI Coach That Lowers the Fear Barrier
What distinguishes the GStocks experience is not merely the convenience of trading from a mobile phone—it is the integration of artificial intelligence into the investor education process. GCash paired GStocks with Pera Coach, an AI-powered financial coach that provides on-demand access to investing tips and practical information, ensuring that first-time investors understand what they are getting into. Mynt group head Winsley Bangit emphasized that the platform aims to “convince Filipinos to go beyond saving and look into earning more,” with GStocks simplifying the entry process through brokerage partner AB Capital Securities Inc. so that trading—traditionally “reserved to a privileged few”—becomes accessible to ordinary wage earners.
The Demographics Driving the Surge
The data behind this retail wave reveals a distinct demographic profile. Online accounts rose by 31 percent in 2025, with 92 percent of online traders earning less than ₱1 million annually. Within GCash’s broader wealth management suite, GCrypto has attracted about five million registered users, driven largely by the youth segment, while GBonds has reached over 750,000 users, primarily aged 30 and above. The AI-powered Pera Coach serves as a bridge between these segments, offering personalized guidance that a traditional broker could never provide at scale.
Why This Matters for Market Liquidity
The influx of retail capital has profound implications for market dynamics. GCash general manager Darvin Sy Su noted that more users will likely engage with GStocks PH once the local bourse shows more consistent gains and higher liquidity, adding that “we see light at the end of the tunnel when our stock market gets better”. For listed companies, a broader retail base means improved price discovery and potentially lower cost of capital. For the PSE itself, the success of GStocks validates its digitalization strategy and creates pressure to further modernize trading infrastructure.
The Road Ahead: From Access to Sophistication
The next phase of this revolution will be about depth, not just breadth. With Mynt targeting what could become the Philippines’ largest-ever IPO—raising as much as ₱92.3 billion—GStocks users are positioned to participate directly in the fintech ecosystem they helped build. The AI coaching layer will evolve from basic tips to more sophisticated portfolio diagnostics, risk profiling, and rebalancing suggestions. As Su put it, the goal is to help Filipinos “better understand and use the tools we provide,” transforming a generation of savers into long-term equity owners.
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