The Belgium Financial Services and Markets Authority has published its third Retail Investor Dashboard, providing a quarterly snapshot of Belgian retail investor behaviour. The latest edition points to strong retail participation in the first quarter of 2025 and a marked increase in share and ETF trading around the 2 April announcement of US import tariffs. In Q1 2025, around 187,000 Belgian retail investors traded shares and a record 94,000 traded exchange-traded funds (ETFs), nearly 20% more than in the previous quarter. First-time participation included 20,000 new share investors, 22,000 new ETF investors and 4,000 new bond investors, with ETFs attracting more new investors than shares for the second consecutive quarter. Transaction activity totalled more than 1.17 million share transactions (the highest since Q1 2023), 281,000 ETF transactions (up by more than 35% versus Q4 2024) and nearly 25,000 bond transactions. Following the 2 April tariff announcement, share and ETF trading rose significantly while bond transactions stayed broadly stable; although most trades were purchases, Belgian retail investors were net sellers of shares by value both before and after the announcement, driven mainly by men and investors aged 60 and over.
Belgium Financial Services and Markets Authority 2025-07-22
Belgium Financial Services and Markets Authority releases Retail Investor Dashboard showing record 94,000 ETF traders and 1.17 million share transactions in Q1 2025
The Belgium Financial Services and Markets Authority's third Retail Investor Dashboard shows strong retail participation in Q1 2025, with significant increases in share and ETF trading after the 2 April US import tariff announcement. About 187,000 retail investors traded shares, and a record 94,000 traded ETFs, with ETFs attracting more new investors than shares for the second consecutive quarter. Despite increased trading, Belgian retail investors were net sellers of shares by value, mainly driven by men and those aged 60 and over.