Discount certificates reduce risk and offer a higher probability of a positive investment outcome compared to direct investments.

Almost 88% of the discount certificates issued to retail investors in Germany generated a positive return in 2025, according to a report commissioned by the German association of structured securities (Bundesverband für Strukturierte Wertpapiere or BSW). Discount certificates present not only an effective way of reducing risk, but also a reliable source of returns -  Christian Vollmuth, BSW For the first time, the study – conducted on behalf of the BSW by TTMzero in collabora