The share of stock trading conducted through smartphones has been steadily increasing. (Image from KBS News)
SEOUL, Aug. 23 (Korea Bizwire) — Nearly a third of South Korean retail investors using mobile trading apps have experienced system failures or access disruptions, raising concerns about reliability in a market where split-second timing can determine profits and losses.
According to a survey released Friday by the Korea Consumer Agency, 59 percent of respondents reported dissatisfaction or harm while using securities firms’ trading apps in the past six months. Among them, 51 percent cited system errors and connection problems, 49 percent pointed to login or authentication issues, and more than a third complained about high or hidden fees.
The findings mark a rise from 2021, when 52 percent of users expressed dissatisfaction.
KB Securities’ M-able app ranked highest at 3.63 in the survey (Image courtesy of KB Securities)
Brokerage Apps Under Fire
The study, which surveyed 2,100 investors in April, found that apps operated by Kiwoom Securities (HeroS#), Korea Investment & Securities, and Samsung Securities all scored below the industry average of 3.55 out of 5 in overall satisfaction, with ratings of 3.43, 3.47 and 3.52, respectively.
In contrast, KB Securities’ M-able app ranked highest at 3.63, followed by NH Investment & Securities (NaMu) and Mirae Asset Securities (M-STOCK) at 3.61. Shinhan Investment’s SOL Securities app also scored above average at 3.58.
Core services such as fee levels, interest rates, information provision, and trade execution received relatively strong marks at 3.76, but users gave a much lower 3.10 to “service experience,” a category measuring the frequency of positive and negative emotions while using the platforms.
Apps operated by Kiwoom Securities (HeroS#), Korea Investment & Securities, and Samsung Securities all scored below the industry average of 3.55 out of 5 in overall satisfaction, with ratings of 3.43, 3.47 and 3.52, respectively. (Image courtesy of Yonhap)
Growing Dependence, Growing Frustration
As more investors favor non-face-to-face transactions, reliance on mobile trading systems (MTS) has surged — but so has frustration. Beyond technical glitches, users also voiced complaints about forced liquidation of margin accounts, inaccurate investment information, and aggressive credit trading promotions.
When choosing a brokerage, investors prioritized ease of use and design (31.4 percent) as well as trading fees (31.4 percent). For overseas stock trading, low currency exchange fees were the top factor (33.4 percent).
The Korea Consumer Agency said it will recommend that brokerages provide real-time alerts during trading disruptions, improve compensation procedures, and increase transparency on fees and interest rates.
“Improving service quality is essential as mobile platforms become the primary channel for stock trading,” said Jeong Go-woon, a senior official at the agency.
M. H. Lee (mhlee@koreabizwire.com)
