revolution, the global financial super application with more than 35 million customers worldwide and more than 2.5 million in Spain, reveals some trends on how Spaniards invested in 2023and reveals that The number of trading customers on the platform increased by 168%. So, Spain is the second market where investment interest in Revolut has increased the most over the past yearonly behind Italy.
The average trading account size reached EUR 1,760 at the end of the year, slightly below the EEA average of EUR 1,827. The average Spanish investor is also slightly older (34.27 years) than the average European investor (33.33 years). The largest investment accounts, however, were accumulated in the 55 to 64 year old age group and reached an average of 2,668 euros.
Men are taking the lead in investing
Different gender dynamics also emerge. In Spain, men took the lead in investment, showing higher levels of activity and investing larger amounts. The average account size of men was about 2.5 times larger than that of women2,064 EUR or 835 EUR.
Across the European Economic Area (EEA), the most traded US stock in 2023 was the American auto giant Tesla (TSLA). This is followed by the American space company Momentus (MNTS) and the Chinese automobile manufacturer NIO (NIO). Among European stocks, brewer Anheuser-Busch (1NBA) was the top performer to attract investors’ attention, followed by German automaker Volkswagen (VOW3) and Dutch payments company Adyen (1N8).
Like most Europeans Spanish investors showed shared enthusiasm for Tesla shares (TSLA), followed by American commercial space company Momentus (MNTS) and Chinese electric car company Nio (NIO). The most traded EU stocks were Adyen NV (ADYEN.AS), German carmaker Mercedes-Benz Group AG (MBG) and German technology company Siemens AG (SIE.DE).
For those looking for diversified and profitable financial instruments, Revolut launched last year Exchange Traded Funds (ETFs), which offer a diversified portfolio of assets such as stocks and bonds within the Revolut app. Investing in ETFs can make it easier to manage investment risks and reduce the cost and time required for investment analysis. To commit to regular investing and reduce the impact of short-term price fluctuations, Revolut recently added the Recurring Buys feature, which allows you to buy stocks/ETFs at predefined times and frequencies. The ETFs that secured the top positions among Spanish investors in 2023 were Vanguard S&P 500 (VUSA), iShares Core MSCI World ETF (SWDA) and Vanguard FTSE All-World (Acc.) ETF (VWCE).
The Spanish are the first to access the flexible Revolut accounts
Last year the Spanish were also among the first to have access to it Flexible Revolut accounts. This is an investment product that offers an alternative way to manage savings in multiple currencies by investing in money market funds. Flexible accounts allow funds to be deposited and withdrawn at any time, with variable interest accruing and being paid out daily. Since July 2023, Spaniards have accumulated more than half a billion euros in deposits in their flexible accounts.
Rolandas Juteika, Head of Wealth and Investment at Revolut for the European Economic Areacommented, said: “As we look back and reflect on 2023, we see that the stock market’s impressive rise of more than 24% for the S&P 500 index and a staggering 54% for the Nasdaq 100 index is a testament to the resilience and adaptability of the financial sector. “ Outlook. Looking ahead to 2024, the prospect that interest rates in the EEA could potentially reach 4-5% creates differentiated dynamics. If interest rates fall, bond prices could rise, providing investors with new strategic opportunities. We will soon allow our customers to access this area with just a few clicks on their phone screen. Additionally, the encouraging trend of falling inflation adds further optimism and contributes to a more favorable environment for various investment strategies. As we enter 2024, a thoughtful and balanced approach, taking into account evolving market conditions, will be key to capitalizing on emerging opportunities.”
Revolut has recently expanded its investment offering across the EEA to include shares in European-listed companies. On the other hand, the company introduced Trading Pro. This is a subscription for advanced traders with a reduced commission rate, higher order limits, advanced portfolio analysis and a desktop trading terminal. Today, Revolut offers customers access to over 2,200 US-listed securities, 190 EU-listed securities and over 230 exchange-traded funds (ETFs) through its app.
Investment services in the EEA are provided by Revolut Securities Europe UAB (Revolut), an investment firm authorized and regulated by the Bank of Lithuania. This information does not constitute investment advice, a recommendation or an offer to make an investment decision and is intended for informational purposes only. As with all investments, capital is at risk and returns are not guaranteed. The value of investments can rise and fall. In addition, currency fluctuations can affect returns.