The findings of a CPPC investigation, published on September 16th, revealed key aspects of the general public’s investment preferences. In Ireland, the Commission on Consumer Competition and Protection (CCPC) is a legal entity that promotes and enforces consumer competition and consumer protection legislation.
The survey’s findings revealed the following:
According to 62% of the 1000 people polled, the internet was the most popular source of investment information.
- They use a variety of resources, such as online banking and investment websites, financial news websites, blogs, and social media platforms.
- Three-eighths of those polled sought advice from a bank or financial advisor.
- Investment mode: More than half of investors (56%) prefer to invest online.
- Online investment opportunities are becoming increasingly popular among those under the age of 35.
According to the survey, 36% of people under the age of 35 prefer a trading platform or a mobile application like XTB or Etoro.
- Revoult is used by 29% of those in this age group who use a financial service provider online.
- The overwhelming majority (22 percent) preferred to invest through a bank or investment firm.
- Brokers or intermediaries are preferred by 10% of the population.
- Shares and shares are one of the most popular investment options, with one in every five people opting for them.
- Government or corporate bonds are the second most popular Ireland investment option, accounting for 12% of all Irish investors.
According to the study, 11% of investors own digital assets, and a quarter of Irish youth speculate on crypto-monetary investment.
- The proportion of cryptocurrency investors aged 25 to 34 years old has risen to 25%. This investor group is the most open to investing in Bitcoin or other digital coins.
- Seventy-nine percent of investors did so because they desired a higher long-term return on their investment.
- The current low interest rates have resulted in 46 percent of the money being invested.
- Given the low interest rates, males were more likely than females to invest, with 51 percent of males investing versus 38 percent of females.
- Personal satisfaction accounted for 26% of the total investment.
- 47 percent of those who invested were under the age of 35 and did so for water testing.
According to Gráinne Griffin, Director of Communications at the CPCC, the study concluded that Irish people are increasingly using the Internet for investment information and investment. Griffin claims that the poll clearly shows a shift toward digitised investment, particularly among Ireland’s younger people.