Almost half (44%) of investors wish they had spent more time researching their investments before making a decision, according to a new report.

Most said they failed to do research because it was ‘time-consuming’ or ‘too complicated’, according to the research from the Financial Services Compensation Scheme (FSCS).

One in ten (11%) investors said they invested because their friends were investing, with 26% saying they found investing ‘fun’.

Those aged between 18 and 24 were more likely to invest while watching TV/Netflix (13%), at the pub (11%), or coming back from a night out (7%) compared to those over 25.

A quarter (27%) of investors said they were more likely to invest in an ‘investment opportunity’ with a limited time frame, despite time pressure being a common tactic used by scammers.

One in five (22%) of investors had not checked or did not know if their investment was FSCS-protected.

Lila Pleban, a spokesperson for FSCS, said: "With almost two in five adults holding investments in the UK, it’s clear there’s a growing appetite to start investing as online platforms are making it easy and accessible for everyone.

"But as our findings show, carving out time to research and look into investment opportunities is not always top of people’s to-do lists and unfortunately, puts them at a higher risk of being scammed or putting their money with an unprotected platform or provider.

“While FSCS can’t offer protection for consumers if they are the victim of a scam, our new Investment Protection Checker offers an easy and quick way for consumers to check whether the investment they are looking to make is protected – empowering them to make informed decisions about where to put their money.”

Over one in ten (14%) investors said they chose their investments because they were promoted by a celebrity or influencer via social media.

When it came to which tasks consumers spent the most time on, choosing a holiday (31%), buying a house (26%), doing laundry (24%), buying a car (24%) and checking social media (19%) were ranked as the top five choices.

• OnePoll surveyed 2,000 UK adults on behalf of the FSCS and the Financial Conduct Authority in December.