Social media investment advice leaves investors out of pocket - research

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...