Seeking to promote passive investing through exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term-traded funds (ETFs) in Spain, publicly traded broker XTB has announced a collaboration with VanEck, one of the world's leading ETF managers. The partnership aims to facilitate indexed investing through ETF investment plans offered by XTB, making it easier for retail traders to incorporate VanEck's latest products into their portfolios.

XTB and VanEck Partner to Promote Passive Investing with ETFs in Spain

The alliance demonstrates both entities' commitment to the Spanish ETF market, which has been experiencing significant growth. According to XTB, 70% of their clients worldwide start investing with ETFs and stocks, and the broker is on track to become the go-to multi-product investment app in Spain.

"We are thrilled to announce this partnership with VanEck, one of the top ETF managers globally, whose products many of our clients in Spain already invest in,” Javier Urones, the Head of Business at XTB Spain, commented. “ We hope this union will help us continue to raise awareness of ETFs and Investment Plans as one of the most optimal savings alternatives for retail investors in our country."

¡Tenemos buenas noticias! Hemos firmado un acuerdo de colaboración con VanEck para fomentar la #inversión pasiva con #ETFs y #planesdeinversión en España, unas de las alternativas más óptimas de #ahorro para los inversores minoristas en nuestro país. Os iremos dando más detalles. pic.twitter.com/ZhnOqgTx5F

— XTB España (@xtbes) May 23, 2024

ETF-Based Investment Plans are one of the newer products offered by XTB, first introduced at the end of 2023. Designed for passive investors, they debuted in Portugal and Slovakia and quickly also entered the Spanish market.

Within XTB's investment app, users can invest in more than 350 ETFs across a wide range of asset classes, including stocks, bonds, commodities, and recently added clean energy funds.

XTB, VanEck Aim to Increase Savings Culture in Spain

The collaboration also aims to increase savings culture in Spain and to address Spaniards' limited saving capacity. Spain currently has a savings rate below 6%, while other European countries like France, and Belgium have rates above 12%.

XTB recently released a report titled "The Future of Savings in Spain," which highlights that Spain is the second country in the European Union, behind only Germany, with the most unrewarded saved money. Through this collaboration, XTB and VanEck intend to raise awareness about the advantages and necessity of regular saving adapted to each client's capabilities.

"At VanEck, we are very pleased to collaborate with XTB to promote ETF investing among clients in Spain,” Eduardo Escario, the Regional Director of Business Development at VanEck, commented. “ETFs are vehicles that help invest in a diversified and low-cost manner, making them a product that fits the needs of retail clients."

It is worth noting that VanEck is not the first major asset manager with whom XTB has partnered to promote ETF investments. At the end of February, a similar agreement was made with BlackRock, and the collaboration also started with the Spanish market.

Seeking to further develop its offerings in more passive and hands-off investing, XTB added a social trading feature to its platform in March and also entered the £400 billion ISA market in the UK.