Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock • 3 min read

Almost one in five UK investors have said that they have lost money after acting on investment content seen on social media, as separate research has highlighted the growing risks around online financial advice.

Research commissioned by IG, which surveyed 2,000 UK adults who invest, found that 41% of UK investors had acted on investment advice, tips or inspiration seen on social media. Of those, 45% said they subsequently lost money – equivalent to 18% of all investors surveyed. The average reported loss was £802. Separate research from TSB found that 32% of UK adults had acted on financial advice on social media in the previous 12 months. Of those, 56% lost money, with an average loss of almost £700, while 59% said they regretted acting on the advice. Financial content on social media seen a...

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