Stock market accounts in the Philippines exceed 2 million
In 2024, the Philippine Stock Exchange experienced a significant increase in the number of stock market accounts, reaching a total of 2.86 million, which marks a 50.1 percent jump from the 1.91 million accounts recorded in 2023. This surge was primarily driven by a 62.0 percent increase in online accounts, totaling 2.47 million compared to 1.53 million in the previous year.
Ramon S. Monzon, the President and CEO of the Philippine Stock Exchange, highlighted the unprecedented growth of 50 percent in the number of accounts, emphasizing that it is the highest recorded since tracking investor counts and profiles in 2008. Monzon attributed this substantial growth to the adoption of digital platforms for connecting to the PSE’s trading engine, enabling investors to engage more with the market. He underscored the PSE’s commitment to promoting financial inclusion and empowering retail investors.
Beyond the numerical increase in accounts, Monzon stressed the importance of equipping retail investors with the necessary knowledge and expertise to navigate the complexities of investing wisely and avoiding common pitfalls. The PSE has taken proactive steps to address this need through various investor education initiatives, working collaboratively with trading participants, governmental agencies, and private entities to promote financial literacy and awareness of stock market investing.
Among the initiatives highlighted by Monzon are the PSE Academy website, the Market Education team’s activities, and technological platforms designed to support retail investors, such as PSE EASy and PSE EQUIP. The recent launch of the updated PSE EASy mobile app allows local small investors to subscribe to initial public offerings and follow-on offerings directly through the app, while PSE EQUIP’s premium subscription model offers real-time market data access to users.
As of 2024, retail investors comprised 98.9 percent of total account holders, with institutional investors making up the remaining 1.1 percent. The majority of accounts (99.0 percent) belonged to local investors, while foreign investors held a minor share. Despite the significant growth in retail accounts, retail investors only contributed 16 percent to the total value turnover in the market, presenting a challenge to further engage them. Monzon expressed optimism that forthcoming legislative changes, such as the reduction in the stock transaction tax (STT) from 0.6 percent to 0.1 percent, combined with ongoing investor education programs and new product offerings, would stimulate greater investor participation in the market for the remainder of 2025.
The reduction in STT is a key provision of the Capital Markets Efficiency Promotion Act (Republic Act No. 12214), recently enacted to enhance the efficiency and attractiveness of Philippine capital markets. The shift aims to encourage more active involvement from retail investors, thus fostering a more dynamic and inclusive investment environment.
In terms of demographics, the 30 to 44 age group constituted the largest share of total and online accounts, with a slight increase in their share compared to the previous year. Female investors slightly outnumbered male investors in both total and online accounts. Notably, investors in the 18 to 29 age category showed growth in their numbers, reflecting a rising interest in investing among younger individuals. Additionally, investors earning less than Php 500,000 annually retained the majority share of retail accounts, signifying a broad-based appeal of stock market investment across income brackets.
Overall, the Philippine Stock Exchange’s milestone of surpassing 2 million stock market accounts in 2024 underscores the growing popularity and accessibility of investing in the country, driven by digital innovation, investor education initiatives, and upcoming regulatory changes designed to enhance market vibrancy and inclusivity.