- A recent independent survey commissioned by Revolut suggests that 41% of Brits have acted on online financial advice without verifying its legitimacy
- Among them, 25-34 (68%) and 18-24 year (58%) olds are most at risk, topping the list of those who acted on unverified advice without any further research
- 80% of men cited confidence in recognising credible vs non-credible financial advice, yet a quarter (25%) have lost over £1,000 after following illegitimate advice
- Only 17% of Brits have consulted financial advisors and only 12% used education tools offered by investment platforms before making investment decisions
London, 29th October 2025 – New survey data commissioned by Revolut, the global fintech with over 12 million UK customers, today reveals that a striking 41% of Brits have acted on unverified financial advice online, leading to thousands of pounds in losses. The data uncovers a significant overconfidence gap, especially among men, as many believe they can spot illegitimate advice but fail to do so.
The research, done in conjunction with Dynata found that young adults are most at risk, with 68% of 25-34 year-olds and 58% of 18-24 year-olds admitting to following unverified advice without conducting further due diligence. The financial toll is significant, with nearly one in five (19%) of those who followed online advice losing over £1,000, and a further 4% losing over £5,000 in relation to unverified advice.
A clear gender confidence gap was also identified. While 80% of men were confident in their ability to recognise credible advice, a quarter of them (25%) have lost over £1,000 as a result of following illegitimate recommendations. On the other hand, women appeared more cautious, with 63% confirming they’ve never acted on unverified advice, yet 59% felt confident in their ability to spot it.
The research shows Brits are clearly worried about financial risks, with 35% flagging scams and ponzi schemes as their biggest concern, followed by overhyped or misleading claims (26%). Yet despite this caution, only 17% of those surveyed consulted financial advisors prior to making decisions, and only 12% relied on educational tools available on investment platforms.
Yana Shkrebenkova, Head of Revolut Wealth and Trading UK at Revolut, commented: “It’s apparent that the internet has democratised access to financial information, but not necessarily financial wisdom. Too many people mistake confidence for credibility, and slick social-media posts for sound investment advice, blurring the line between insight and influence. Sound financial decisions should be grounded in education and research, and advice should come with credentials, not hashtags.”
As consumers increasingly turn to illegitimate sources for financial guidance, Revolut aims to counter this trend through transparency and education. Through the app, users have access to easy-to-understand learning modules and investment tools that support customers on their journey to grow wealth long-term.
Additional Information
- The survey was executed in June 2025 by Dynata, through an online survey. The sample included 1,000 people representative of the local population aged 18+
- Note that Investment services are provided by Revolut Trading Ltd (No. 11567840), which is authorised and regulated by the Financial Conduct Authority (FRN: 933846).”
