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Luna Securities Inc. , a relatively new stock brokerage founded in 2022, is offering an industry-low broker’s commission rate of 0.12% and a maintaining balance of P500."With our ‘commission revolution,’ we can, in our own way, help stocks compete with other emerging classes of financial assets,” Luna Securities president and co-founder Francis Diaz said at a press event in Makati City on Friday.
That’s what we’re trying to do; we’re trying to take away as many barriers… You can open an account in just five minutes, you can put in a minimum of P500, and we are rationalizing commission,” Diaz said.Luna Securities’ move to lower its broker’s commission rate came after the Securities and Exchange Commission allowed brokers to set their own commission rate for transactions with their customers without the regulatory minimum commission.The broker’s commission rates were set at a minimum of 0.
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