Month: September 2024

New data from Revolut’s European-licensed investment firm has identified a considerable increase in the number of young investors across both Ireland and the EEA more broadly. Young millennials and Gen Z are beginning to invest at a much younger age than any generation before them, according to internal data from Revolut. The global financial app has more than 45 million retail customers globally, over 30 million across the EEA, while over 2.8 million people are Revolut customers here in Ireland. The company’s Investment services across the EEA are provided by Revolut Securities Europe UAB. 

Younger investors, defined as those aged 18-34, now make up over 57% of Revolut’s investment customers in Ireland — only slightly below the company’s pan-EEA average of 62%. Notably, one in every four of Revolut’s EEA-based customers who started to put money into the investment firm in the first half of 2024 said they were new to investing. In addition, the amount of investors aged 18-34 in Ireland has risen considerably by more than 17% when comparing the first two quarters of 2024. 

Investments into Money Market Funds (MMFs) through Revolut’s Flexible Cash Funds service, which launched earlier this year, made up nearly two-thirds (62%) of the country’s youngsters’ investment portfolios. Other financial instruments, such as stocks and ETFs, accounted for 16% respectively, while bonds were traded by just 6% of young investors in Ireland. 

The average portfolio size of all of Revolut’s investing customers in Ireland is more than €2,600. When compared to the company’s EEA-wide average of just over €4,000, it’s clear that Ireland’s appetite for investing versus other member states still lags behind its European peers. 

Revolut’s youngest investors, defined as those aged 18-24, tended to start out by investing much smaller amounts in Ireland — with the average size of their portfolios around €400, while those aged 25-34 typically had around €1,300 invested. 

In terms of the most popular assets among 18-34-year-olds, most recently in July, the most-traded US stock (measured by the most bought and most sold assets) was the fluctuating American tech giant Nvidia, currently dominating the markets owing to its recent advances in artificial intelligence (AI).

Meanwhile, the most bought ETF in Ireland was the Vanguard S&P 500, while the most sold was the Dow Jones Global Titans 50 index. The top moving EU stock (both bought and sold) was German battery manufacturer VARTA AG. 

Rolandas Juteika, Head of Wealth and Trading (EEA), said: “The unprecedented level of interest in investing among our younger customers marks a significant shift in the financial landscape. This generation is much more involved in finance, with a strong focus on education. Revolut is a helpful tool for Irish investors looking to build up their knowledge and confidence in investing. Our app features courses, trading alerts, company performance information, and up-to-the-minute market news.” 

Revolut offers a wide array of investment options for its customers across Ireland and the EEA, with over 3,000 financial assets (US and EEA stocks, ETFs, corporate and government bonds) available within the Revolut app. Investing in stocks and ETFs is commission-free within customers’ plan limit allowance. Other fees may apply. 

Revolut also offers a Robo-Advisor service, which is best-suited to customers who have limited or no trading experience or simply don’t have time to do extensive research. In contrast, for more experienced traders, the company has a Trading Pro subscription — this paid plan offers pricing benefits (such as lower commission fees and higher order size limits), as well as additional analytics features. This pairs well with Revolut’s sophisticated in-app investing tools, which are designed for both beginners and professionals alike. 

Maurice Murphy, General Manager at Revolut Bank UAB – Ireland Branch, added: While our savings account ensures Irish savers can get a really good return on their deposits, this data shows that our customers’ are embracing these additional options to further diversify and build their wealth. Investing needn’t be overly complicated, nor should it only be for the wealthy or the more-experienced. At Revolut, we’re eager to help and encourage the next wave of investors and support their respective financial journeys — while also providing Ireland’s more-experienced traders with the sophisticated tools that they need.” 

European-licensed bank Revolut was recently recognised by financial comparison site Bonkers.ie as ‘Ireland’s Best Consumer Business’ and ‘provider of the Best Current Account’, while the company ranked 9th as part of the Ireland RepTrak® 2024 study earlier this year. 

Revolut’s investment services in the EEA are provided by Revolut Securities Europe UAB, an investment firm authorised and regulated by the Bank of Lithuania. This information is not investment advice, recommendation or offer to take any investment decision and is supplied for informational purpose only. As with all investments, capital is at risk and returns are not guaranteed. The value of investments can go up and down and returns may be affected by currency fluctuations. For further information, please see Revolut’s Trading Terms and Conditions.