In a statement, brokerage XTB announced a new partnership with BlackRock to promote indexed investing in Spain, a pilot project that could be applied to other markets in the future, including Portugal.

This collaboration facilitates the contracting of investment plans with exchange-traded funds or ETFs by providing educational materials, raising awareness of the benefits of saving regularly and adapting it to each person’s capabilities,” reveals XTB.

This partnership also represents the beginning of a pilot test to achieve the goals set by the two companies, and will be applied in other markets, including Portugal.

“This partnership aims to make it easier to invest with exchange-traded funds or ETFs by providing educational materials, raising awareness of the benefits of saving regularly and adapting it to each person’s capabilities,” reveals XTB.

According to the brokerage, the partnership will allow more people to develop an investment plan, which will be complemented by the launch of new savings and investment products throughout 2024.

“This cooperation therefore aims to respond to the limited saving capacity identified in many EU countries, where the population has less ability to save,” says XTB.

“In the Portuguese case, this ability has decreased in recent years. According to the latest data from Euromonitor, the Portuguese were able to save 10.7% of their monthly income in 2021, an ability that decreased to 6.2% in 2022 and to 5.1% in 2023, according to Reveals the broker.

“These two markets are examples of how the growing gap between the needs of investors and the inertia offered by traditional savings products is widening,” says the global fintech company, an online investment platform and a world-leading broker.

For Javier Orones, Head of Business at XTB Spain, this is “an effective solution to help thousands of investors save using the tools of the future.”