By Brazil Stock Guide – Retail investors traded R$ 517.3 billion in equities on the cash market of B3 between January and December 2025, according to data released by the exchange. When all cash-market instruments are included — equities, BDRs, ETFs, real estate investment funds and other listed products — total turnover reached R$ 747.7 billion over the period.
The figures show a 1.22% increase in trading volume over the year and a 2.3% rise when comparing the 12 months from December 2024 to December 2025. The data indicate that retail participation remained resilient despite high domestic interest rates, tighter financial conditions and intermittent global market volatility.
Trading by individuals was heavily concentrated in large, highly liquid stocks. The most traded names among retail investors in 2025 were Petrobras (PETR4) and Vale (VALE3), followed by Banco do Brasil (BBAS3), Magazine Luiza (MGLU3) and Embraer (EMBR3). Completing the top ten were Itaú Unibanco (ITUB4), Prio (PRIO3), Bradesco (BBDC4), Brava Energia (BRAV3) and WEG (WEGE3).
The ranking underscores a clear preference among individual investors for blue-chip companies with deep liquidity and broad analyst coverage. Stocks linked to commodities, major lenders and consumer-facing businesses accounted for a significant share of volumes, pointing to a blend of income-oriented strategies, tactical trading and longer-term positioning.
The figures were compiled using DataWise+, a data platform developed by B3 in partnership with Neoway, which tracks trading, allocation, open positions and custody across listed markets, including cash equities, forwards, options, futures and securities lending. The system provides access through data files, APIs and customized dashboards, offering a detailed view of investor behavior in Brazil’s capital markets.