XP Investimentos

What XP Investimentos does

XP Investimentos (legal entity XP S.A., domiciled in São Paulo, Brazil) is the operating brokerage and advisory subsidiary of Nasdaq-listed XP Inc. (ticker XPN, IPO December 2021). Founded in 2001, the company has built Brazil's largest independent investment advisory distribution network, comprising 7,000+ investment advisors operating through 600+ accredited partner offices across 25 Brazilian states, complemented by eight flagship 'Espaço XP' retail advisory locations in major cities. XP serves tiered client segments ranging from entry-level digital investors (up to R$100,000 invested) up through Signature (R$300k–R$3M), Unique (R$3M–R$10M), and Consultoria (R$1M+ across all institutions) wealth management, with a reported customer base exceeding 1.2 million clients and R$1.9 trillion in total assets under custody and management as of Q3 2025.

The platform combines proprietary technology — including the XP Unity home broker (launched December 2025, built from scratch with independent architecture), the Tradezone trader platform, the B3-regulated RLP (Retail Liquidity Provider) execution service, and the XP mobile app — with integrations to more than 20 third-party trading, automation, tax, and news platforms (Nelogica, Tryd, MetaTrader 5, TradeMap, SmarttBot, Trader Evolution, etc.). The product portfolio spans Tesouro Direto, fixed income, equities, futures, investment funds, real estate funds (FIIs), structured notes (COEs), IPO access, private pensions (PGBL/VGBL), three tiers of Visa credit cards (One, Infinite, Legacy), digital and global investment accounts, a R$75 billion credit portfolio including payroll loans (crédito consignado) launched June 2025, and insurance distributed via partnerships with Prudential, Icatu, MAG Seguros, and MetLife.

XP generates revenue through multiple fee mechanics: subscription-based Fee Fixo (fixed % of AUM with advisor commission rebated to client as cashback) over R$245 billion in assets; per-transaction Transacional pricing on brokerage; Consultoria fixed-percentage fees on consolidated cross-institutional assets; credit and card interchange revenue; and premium services such as the R$350/month Legacy metal card. Reported gross revenue stands at R$19.4 billion (with credit revenue at R$330 million, under 2% of total). The company also holds wholly-owned subsidiaries Clear and Rico, runs the XP Educação platform (500,000+ students trained), and hosts Expert XP, described as the world's largest investment festival.

Name

XP Investimentos

Legal name

XP S.A

Website

https://xpi.com.br

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Investment Brokerage

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM)

Keywords

• Investment brokerage services
• Wealth management advisory
• Fixed income trading
• Digital brokerage platform
• Private pension products

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Advisory and brokerage fees: XP generates revenue through multiple fee structures: (1) Fee Fixo - fixed percentage on assets under management with cashback to clients; (2) Transacional - per-transaction fees without monthly charges; (3) Consultoria - fixed percentage on total client assets across all institutions. The company reported R$19.4 billion in gross revenue for the period cited, with credit revenue of R$330 million representing less than 2%.
2. Transaction-based brokerage: Primary revenue model in Brazilian investment sector. Clients pay per investment transaction without maintenance fees for portfolio management.
3. Credit card services: XP generates revenue through credit card services including interchange fees, with various card tiers (One, Infinite, Legacy) offering different reward structures. Legacy card has R$350/month fee; Infinite and One cards are free.
4. Credit products: XP's loan portfolio reached R$75 billion in 2025 (27% YoY increase), generating R$330 million in credit revenue. Expansion into payroll loans (consignado) and real estate financing leveraging existing client base.
5. Digital services and platforms: Revenue from digital investment platforms including trading platforms, market data, and premium tools. Many platforms offered free to XP clients as part of service offering.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

XP Investimentos is a Brazilian investment brokerage and advisory platform operating a comprehensive financial services ecosystem. The company offers investment brokerage across multiple asset classes (stocks, fixed income, futures, funds, real estate funds, COEs, IPOs, private pensions), digital banking (digital account, tiered credit cards, global investment account), credit products (private payroll loans, investment-backed lending), and insurance through proprietary platforms and a 600+ partner office network with 7,000+ advisors.

Product overview

XP Investimentos operates as a comprehensive digital financial services ecosystem combining multiple advisory models (Fee Fixo subscription, Transacional pay-per-use, and Consultoria consolidation-based wealth management) with integrated financial products. The platform spans investment services (Tesouro Direto, fixed income, stocks, futures, investment funds, real estate funds/FIIs, COEs, IPOs, private pensions) alongside banking services (digital account, investment account, global investment account, XP One/Infinite/Legacy credit cards) and credit solutions (crédito consignado, investment-backed lending). The offering is delivered through proprietary platforms (XP Unity home broker, XP Trader/Tradezone, XP app) and partner trading platforms (MetaTrader 5, Nelogica, Tryd, SmarttBot), supported by physical Espaço XP locations and Private Bank services for high-net-worth clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Assessoria XP (Investment Advisory) Full-service investment brokerage and advisory platform offering multiple advisory models (Fee Fixo, Transacional, Consultoria), digital account, credit cards, and comprehensive investment products for individual investors across Brazil.
• Fee Fixo Subscription-based advisory model charging a fixed percentage on assets under management, with the advisor's commission returned to clients as cashback. Ideal for clients making frequent portfolio transactions.
• Transacional Pay-per-use advisory model charging fees per transaction without fixed monthly maintenance. Primary model in Brazilian investment sector, ideal for medium to long-term investors with lower transaction frequency.
• XP Consultoria Consolidation-based wealth management service similar to a Multi-Family Office, charging a fixed percentage on total global assets across all institutions. Targets clients with R$1 million+ in assets distributed across multiple institutions.
• Tesouro Direto (Treasury Direct) Government savings bonds including LTN (pre-fixed), NTN-F (pre-fixed with semi-annual interest), and IPCA-linked titles. Minimum purchase R$30 per title, maximum R$1 million per month. XP does not charge fees on Treasury investments.
• Renda Fixa Platform Exclusive platform for trading fixed income securities including Títulos Públicos, CDBs, LCIs, CRAs, LCAs, and Debentures with full autonomy, transparency, and CETIP registration.
• Ações (Stocks) Equity investment platform enabling clients to become shareholders of listed companies with leverage options, analyst recommendations, and curated portfolios.
• Futuros (Futures) Futures contract trading including BGI (Live Cattle), CCM (Corn), ICF (Coffee), ISP (S&P 500), DOL (Dollar), WDO (Mini Dollar), IND (Bovespa Index), WIN (Mini Index), and DI1 (DI Interest).
• Fundos de Investimento (Investment Funds) Professionally managed investment funds across multiple strategies, asset classes, and risk profiles distributed through XP's platform.
• Fundos Imobiliários (FIIs) Real estate investment trusts offering property exposure with rental income, zero brokerage fees, and tax-free dividends for individual investors.
• COE (Structured Notes) Structured notes combining fixed and variable income elements, offering known return scenarios, capital protection options, and exposure to international markets without FX risk.
• Oferta Pública (IPOs) Access to initial public offerings and public offerings of securities through XP's exclusive platform.
• Previdência Privada (PGBL/VGBL) Private pension plans in PGBL (for full IR declarants with contribution deductibility) and VGBL (for simplified declarants) modalities with regressive or progressive taxation.
• Cartão XP One Entry-level Visa card requiring R$5,000 minimum investments, offering up to 1.8 XP points/USD or 1.1% Investback, 2 annual VIP lounge accesses, and zero annual fees.
• Cartão XP Infinite Visa Infinite card requiring R$50,000 minimum investments, offering up to 3.0 XP points/USD or 1.5% Investback with Turbo Benefits, 4 VIP lounge accesses per year, dynamic credit limit, and zero annual fees.
• Cartão XP Legacy Premium metal Visa card requiring R$1 million minimum investments, offering up to 9.5 XP points/USD or 5.3% Investback on international purchases, unlimited VIP lounge access, Forbes Travel Guide-endorsed concierge, and metal card design.
• Conta Digital XP Digital banking account with 24/7 support, zero opening or maintenance fees, unlimited Pix/TED transfers, salary deposits, debit card, 4 monthly ATM withdrawals, and automatic payments.
• Conta Investimento Global International investment account enabling dollarization of portfolio with access to US Treasuries, Bonds, CDs, Stocks, ETFs, ADRs, REITs, and Mutual Funds with tax facilitation reports.
• Seguro de Vida XP (Life Insurance) Life and protection insurance partnerships with major insurers covering accidental disability, serious illness, hospital daily rates, and natural death, with 1.2 million clients and R$10 billion insured.
• Crédito XP Credit solutions including private payroll loans (crédito consignado) leveraging XP's client base representing ~15% of Brazil's private payroll loan market, with R$75 billion total loan portfolio.
• Investimento Ampliado Investment-backed lending allowing clients to use their investment portfolio as collateral without early redemption.
• Consórcio XP Group savings plan for coordinated asset acquisition offered through XP's consortium platform.
• XP Unity (Home Broker XP) Proprietary web-based equity trading platform built from scratch with independent architecture, real-time quotes, order management, portfolio evolution tracking, and customizable layouts.
• XP Trader (Tradezone) Proprietary exclusive platform with agile order routing, Chart Trading model, Phicube method integration, opportunity search, and simulator mode functionality.
• RLP (Retail Liquidity Provider) B3-regulated liquidity provision service for mini-contracts (WIN, WDO) and selected stocks, executing client orders at improved prices.
• XP Private Bank High-net-worth banking service for major Brazilian families offering Wealth Planning, Credit Solutions, Investment Solutions, Family Office, Private Office, and XP Visa Infinite Privilege card.
• Espaço XP Physical advisory locations in major Brazilian cities including Brasília, Campinas, Cuiabá, Curitiba, Faria Lima (São Paulo), Fortaleza, Manaus, and Recife.
• Aplicativo XP (XP Mobile App) Mobile application integrating digital account, investment portfolio, credit cards, insurance, Pix, Open Finance, global account, and security features (Face ID, Token, location verification) in a single interface.

Quantifiable outcome

• 93% of audited advisors passed with successful assessments
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration25 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core.

• Frete.comcoreStrategic or Co-development Partner · 8 January 2026Frete.com structured a R$150 million FIDC (Credit Rights Investment Fund) in partnership with XP Investimentos to expand credit programs for transport companies operating on the Fretebras marketplace. The fund structure already included participation from BTG Pactual and Polígono Capital asset manager. XP's entry significantly expands available resources for over 25,000 transport companies and approximately 900,000 truck drivers. Frete.com projects reaching R$1.5 billion in credit volume in 2026.
• NelogicacoreTechnology or IntegrationXP offers multiple Nelogica trading platforms including Profit Ultra, Profit Trader XP, Profit PRO, and Scalper Pro. These platforms are offered free to XP clients and provide advanced charting, automated trading strategies, and technical analysis tools. Nelogica is one of Brazil's leading trading platform providers.
• TrydcoreTechnology or IntegrationXP offers Tryd Trader and Tryd PRO platforms to clients, free of charge. Tryd provides advanced trading platforms ideal for scalping, tape reading, and technical analysis.
• MetaTrader 5coreTechnology or IntegrationXP offers MetaTrader 5 platform, considered the most widely used robot trading platform globally. It allows creation of any indicator or robot to automate trading strategies. Offered free to XP clients.
• PrudentialcoreChannel Partner/ Reseller/ DistributorMajor international insurance company partnering with XP to offer life insurance products. XP has partnerships with major global insurers including Prudential, Icatu, MAG Seguros, MetLife, and others to provide life, travel, and other insurance products to clients.
• Icatu SeguroscoreChannel Partner/ Reseller/ DistributorBrazilian insurance company partnering with XP to offer insurance products. XP works with multiple major insurers to provide comprehensive insurance solutions to its client base of over 1.2 million customers.
• MAG SeguroscoreChannel Partner/ Reseller/ DistributorMajor Brazilian insurance company partner offering life and other insurance products through XP's distribution network.
• MetLifecoreChannel Partner/ Reseller/ DistributorGlobal insurance company partnering with XP to offer insurance products to Brazilian clients through XP's platform and advisor network.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• BTG Pactual: Brazil's largest independent investment bank, offering investment advisory, brokerage, asset management, and wealth management services directly competing with XP across retail, HNW, and institutional segments. BTG is a core co-investor in XP's FIDC structures.
• Genial Investimentos: Brazilian investment platform offering brokerage, asset management, and wealth advisory services with proprietary platforms. Competes directly with XP in the mid-to-high-net-worth advisory segment.
• Modal Mais: Brazilian digital broker offering stocks, fixed income, funds, and treasury products with competitive pricing. Competes directly with XP's transactional model for active retail traders.
• Guide Investimentos: Brazilian investment broker with retail and institutional offerings including research, advisory, and trading. Competes with XP in mid-market advisory and trading segments.

Broad incumbents

• Itaú Unibanco: Brazil's largest private bank, offering integrated investment products, brokerage (Itaú Corretora), and wealth management to its massive deposit base. Competes with XP across mass-affluent, HNW, and private banking segments with established brand trust.
• Bradesco: One of Brazil's largest banks with a significant investment arm (Bradesco BBI, Ágora) offering brokerage, asset management, and wealth services. Competes with XP particularly in the retail investment and corporate advisory markets.
• Santander Brasil: Major Brazilian bank with Santander Corretora brokerage and private banking (Wealth Management & Insurance). Competes with XP across retail investments, private banking, and wealth management.

Emerging players

• Nubank (NuInvest): Latin America's largest digital bank with NuInvest brokerage offering, targeting mass-market Brazilian retail investors with zero-fee trading. Directly competes with XP's Digital tier and represents the strongest fintech threat to XP's transactional revenue model.
• Banco Inter: Brazilian digital bank with Inter Investimentos brokerage and wealth offerings, targeting retail and mass-affluent investors. Competes with XP's digital and Exclusive tiers with an integrated banking-plus-investments proposition.
• Warren Investimentos: Brazilian digital wealth platform offering diversified portfolios, fixed income, and funds with a focus on mass-affluent investors. Emerging fintech competitor in XP's lower-tier digital and Exclusive client segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xpcorretora
• Facebookfacebook.com/xpinvestimentos
• LinkedInlinkedin.com/company/xp-investimentos-cctvm-s-a

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about XP Investimentos