Private investors who buy stocks and shares via internet book disappointing returns, particularly those who opt for riskier derivates, according to researchers at Maastricht University.

The researchers followed the fortunes of people investing via online broker Alex between January 2000 and March 2006.
The average monthly return booked by investors was minus 1.76%, while the return on the stock market as a whole was minus 0.28%. Women tended to book better returns than men, the researchers said.