August 27, 2021
1. Do you have one or more online trading or investment accounts?
Yes, I have one or more accounts that I access using a mobile app.
2. If your response to Question 1 is Yes, do you think you would trade or invest if you could not do so online using a computer or using a mobile app?
No
3. On average, how often do you access your online account?
Daily/more than once a day
4. On average, how often are trades made in your online account, whether by you or someone else?
Daily/more than once a day.
5. If you access your account online, did you have the account first, and only began to access it electronically later? Or did you open the account with the idea that you would access it electronically immediately?
I downloaded an app or visited a website first, and then opened up an account with the company
6. My goals for trading or investing in my online account are (check all that apply):
Keep the amount of money I have, while keeping up with inflation
7. What would you like us to know about your experience with the features of your online trading or investment platform? (Examples of features are: social networking tools games, streaks, or contests with prizes points, badges, and leaderboards notifications celebrations for trading visual cues, like changing colors ideas presented at order placement or other curated lists or features subscription and membership tiers or chatbots.)
I dont understand why retail traders arent allowed to trade after hours. We have the technology to do this. T +2 is outdated and Mr. Gensler has said that T +0 is possible. He is no stranger to Blockchain. Retail investors are not allowed to hold paper stocks we must trading street names and with the inflated options market, dark pools, PFOF, etc retail investors dont have a chance against leveraged bets by institutions. Its frustrating that our options are closed out an hour before market close only to watch the price increase as everything settles in the last 5 minutes creating huge volume spikes.
8. If you were trading or investing prior to using an online account, how have your investing and trading behaviors changed since you started using your online account? (For example, the amount of money you have invested, your interest in learning about investing and saving for retirement, the amount of time you have spent trading, your knowledge of financial products, the number of trades you have made, the amount of money you have made in trading, your knowledge of the markets, the number of different types of financial products you have traded, or your use of margin.)
Since creating an online account of becoming much more educated how the stock market works. I am 100% in support of Al Greens H.R.4619 to give the SEC power to criminally prosecute bad actors. And at one point my account was up 125%. The GameStop and AMC buy stop instituted by Robinhood and Webull was detrimental to my account. I guess I dont understand why that was allowed to happen. The action had already taken place, but the repercussions dont seem to have sold anything. Many retail investors lost money (and pension funds) because of the shenanigans in January. Im actually OK with PFOF because it gives me the opportunity to trade cheap. However, I would like to know how much Im paying and how the orders are being routed. Stocks/street names should not be hidden away in dark pools. My generation doesnt want or deserve another Bernie Madoff. We are aware of the capabilities of Blockchain and its immutability (as is Mr. Gary Gensler-Im actually a big fan of his MIT courses). I believe transitioning the exchanges from a centralized system to something decentralized and more transparent (and instituting H.R.4619) would bridge the trust-gap between retail, Wall Street, and regulatory institutions.
9. How much experience do you have trading or investing in the following products (None, 12 months, 1-2 years, 2-5 years, 5+ years):
Stocks : 2-5 Years
Bonds : Less Than 12 Months
Options : 2-5 Years
Mutual Funds : Less Than 12 Months
ETFs : 2-5 Years
Futures : 2-5 Years
Cryptocurrencies : 2-5 Years
Commodities : 2-5 Years
ClosedEnd Funds : None
Money Market Funds : Less Than 12 Months
Variable Insurance Products : Less Than 12 Months
Business Development Companies : Less Than 12 Months
Unit Investment Trusts : Less Than 12 Months
10. What is your understanding, if any, of the circumstances under which trading or investing in your account can be suspended or restricted?
Unfortunately, retail investors are limited on the amount of daytrades theyre available to make. A day trade consists of buying a stock and selling it in the same day. After three day trades, trading apps will usually warn you of a possible suspension/restriction. This feature may be turned off, however without $25,000 in your account you may be limited to the number of day trades stated. Over $25,000 and youre fine - seems like a double standard. If youve got money, the rules are different. I dont like it.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Shareholder activism is gaining traction. The world economic forum has talked about this for a while. Companies are now more responsible for what they do. Just as in ESGs. Public oversight is taking charge and investors are doing their research. Im happy to see the SEC step up with all of the rule changes so quickly. Mr. Gensler is doing a fine job (even though Twitter has been kinda rough on him). The only negative experience I have had is when The stocks I wanted to buy were restricted. Once the sell only was instituted, I ran out of day trades and was stuck with stocks that would inevitably be forced to go down. And if the rules were fair and followed, theres no telling what the price of those stocks wouldve reached. Then, to top it off-I dont know a single person that was reimbursed for the manipulation after Robinhood was fined. Im curious where all that money went after it came from my pocket/account.