Data gathered by Buyshares.co.uk shows that the number of stockbroking complaints in the UK dropped by 74.57%. The decline was recorded between the 2009/10 and 2019/20 period.
Stockbroking complaints continue to drop
According to the data, between the 2009/10 period, the complaints stood at 2,474, the highest figure in the last 10 years. By 2019/20, the complaints registered stood at 629. The second-highest complaints were recorded during the 2013/14 period at 2,448 before declining slightly by 14.37% to 2,079, the following year.
From the data, the decline in stockbroking complaints began during the 2017/18 period at 1,688, a drop of 23.44% from the previous year which had 2,205 complaints. By 2018/19, the complaints significantly dropped to 1,069 before witnessing a plunge of 41.16% to the current figure of 629.
The Buyshares.co.uk data also overviewed the United Kingdom’s interest on how to trade in stock based on queries logged on the search engine platform Google.
Between June 2010 and July 2020, the interest grew by 182.75% after recording a popularity score of 29 and 82 between the two periods. Notably, the interest took a steady spike amid the Coronavirus pandemic, between February 2020 and July this year, where the interest grew by 100%.
In February, the search had a popularity score of 41 which later grew to 65 in March. The interest then took a plunge of about 3.1% in April.
Over the last 10 years, UK queries on how to trade stocks attained the peak popularity score of 100 in January 2016. Another notable high was recorded at 84 in December 2014.
Elsewhere, September 2010 and June 2011 registered the lowest interest on how to trade stocks with a popularity score of 0.
The rise in interest for trading in stocks correlated with the period when the Coronavirus pandemic had impacted most global economies. According to the Buyshares.co.uk research report:
“In the wake of the pandemic, stocks spiraled into a bear market as the government-mandated a shutdown of the economy. With stocks experiencing historical lows, investors saw an opportunity to invest their money to reap higher returns once the market bounces back.
The market is already showing signs of recovery as the United Kingdom eases lockdown measures.