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 both online using a computer and 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?
Once to a few times per month.
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
Save and grow my money for short-term goals (in the next year or two)
Save and grow my money for medium- to long-term goals
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.)
Very addictive to watch tickers. Has skewed my concept of money seeing balances change thousands of dollars over few minutes. I do feel like most platforms do not have my best interests in mind and are seeking to gamify the process.
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.)
Prior to having online access to accounts, I would check balances monthly. I know look at balances on about a 15 minute cycle. I do feel more informed and like I have a better understanding and access to the markets that previously. I still feel like the game is rigged and that organic price discovery is hindered by Market makers.
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 : 5+ Years
Bonds : None
Options : Less Than 12 Months
Mutual Funds : 5+ Years
ETFs : 5+ Years
Futures : Less Than 12 Months
Cryptocurrencies : Less Than 12 Months
Commodities : 1-2 Years
ClosedEnd Funds : None
Money Market Funds : 5+ Years
Variable Insurance Products : None
Business Development Companies : None
Unit Investment Trusts : None
10. What is your understanding, if any, of the circumstances under which trading or investing in your account can be suspended or restricted?
Depends on the platform. I use two platforms and feel I have a good understanding on one and feel like the other platform is unpredictable. I feel like Robinhood could shut down trading without any notice and do not feel safe having my money traded on their platform.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I studied Finance (Bachelor's) and Accounting (Master's) so I feel like I have a decent understanding of efficient markets and the theory behind investing. The last 12 months of investing and trading has shown me that the efficient market theory is broken and there are many other forces at play. I do not believe options or market makers have the best interest of investors in mind. I believe the only way the market should be handled is by buying shares and only selling if the investment meets a price target or is a company that has long term value.