Retail investors show growing discipline and diversification

February 13, 2026

eToro, a global trading and investing platform, has reported that retail investors are demonstrating greater discipline, diversification and macroeconomic awareness, marking a significant shift in behaviour compared to previous years.

According to its latest quarterly Retail Investor Beat, based on a survey of 11,000 retail investors across 13 countries, 70% of respondents actively review their investments, while 79% invest regularly each month.

Younger generations are leading this trend, with 87% of Gen Z and 86% of millennials allocating capital into markets monthly, compared to 79% of Gen X and 68% of baby boomers.

The report also highlights a broadening of portfolios across asset classes. For the second consecutive year, the proportion of investors holding digital assets, foreign equities, commodities and domestic bonds has increased.

Between Q4 2024 and Q4 2025, exposure to commodities rose by 11%, foreign bonds increased by 14%, and domestic bonds climbed by 6%. Meanwhile, allocations to digital assets grew by 6% over the same period. Cash holdings declined by 3%, indicating a rebalancing of portfolios rather than a retreat from markets.

Retail investors are also responding to global macroeconomic developments. As the US dollar weakens, 49% of investors said they plan to adjust their portfolios. Gold ownership has risen to 48%, up three percentage points from Q2 2025.

Commenting on the findings, eToro global market strategist Lale Akoner said: “Retail investors are now noticeably different from the opportunistic stereotype that dominated headlines in 2021. Our survey shows today’s retail investors are engaged, deliberate and consistent, reflecting a more disciplined approach rather than reactive behaviour.

“Younger investors, in particular, are leading this shift. Many entered the markets during a period of structural change with heightened volatility and macro uncertainty. As a result, they have grown accustomed to monitoring global trends and using technology and accessible information to manage risk strategically.”

On diversification trends, eToro global market strategist Lale Akoner said: “Retail investors are increasingly allocating capital with diversification firmly in mind across a broader opportunity set. The recent decline in cash allocations points to a gradual rebalancing rather than a pullback from markets, while greater exposure to commodities, bonds, foreign assets and cryptoassets suggest that diversification is being used as a risk-management tool rather than purely for return seeking.”

Akoner added: “Currency dynamics and global policy developments are playing a growing role in shaping retail investor behavior. Improved access to market data, global macro insights and risk management tools has given retail investors a clearer line of sight into the forces shaping their investment returns and narrowed the investment gap between retail and institutional investors.

“Combine this information parity with the ability to execute faster than scale-constrained institutional investors and you can see why many retail investors outperformed institutions in 2025. While 2021 was arguably the year of retail’s breakout, 2025 demonstrates retail’s evolution. They have matured and are displaying a growing level of sophistication marking a new chapter in the evolution of retail investing.”