(SPOT.ph) GCash users can soon become international investors as the Philippines' most widely-used mobile wallet said it would soon introduce a global stock trading feature.
Through GStocks, GCash users can own a piece of global stocks for as low as $1. A quick look at the GCash app will show a "Global Stocks" icon and a notice that said
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Earlier, the Philippine Stock Exchange announced a partnership with GCash to allow investment and trading of local stocks through the app.
Here's what GCash has said so far about the Global Stocks feature coming soon to the app:
What are the available stock options?
According to GCash, users can buy and sell New York Stock Exchange (NYSE) and National Association of Securities Dealers Automated Quotations (NASDAQ) stocks so far.
How do I invest?
Here are the requirements:
- You must be a fully verified GCash user
- You are at least 18 years old and is a Filipino citizen living in the Philippines
To invest, here are the steps:
- Register to GStocks-Global
- Top up your trading wallet. There's no minimum amount required
- Start investing.
Do I need U.S. dollars to use the feature?
Interested investors don't need U.S. dollars to invest in Global Stocks using GCash since the app has a built-in currency exchange that allows users to transfer and convert Philippine pesos to U.S. dollars.
GCash has previously said it was introducing other investment options for its users such as cryptocurrency and local stock trading.
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