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 medium- to long-term goals
Have fun
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.)
Robinhood turned off the ability to purchase certain meme stocks after a meeting with the NSCC. He disclosed this on an internet chat call that has been leaked to the public after denying it (and committing perjury) during the House Financial Services comittee hearing on February 18th, 2021. I chose a different platform after learning about Robinhood's manipulation of these stocks, overleveraged, leaving the retail traders trading the stock at risk.
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.)
My interest has increased exponentially. I learned about how market makers are able to manipulate prices of any stock due to their ability to pick the spread, half of trades occurring in the unlit market (dark pools), and the US exchanges are a horrible way to ensure financial security for the future as long as market makers are able to disassociate fundamentals from price. I'll never have a 401k/ retirement investment account in this country until regulations are sensible and enforced and I'll discourage others from doing so as well.
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 : None
Mutual Funds : None
ETFs : None
Futures : None
Cryptocurrencies : 2-5 Years
Commodities : None
ClosedEnd Funds : None
Money Market Funds : None
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?
Circuit breaker rules can freee trading (not ONLY buying or ONLY selling) of a stock for all investors for the time period determined by the rule. Terms of service for the various platforms outline such circumstances for retail traders like myself. I expect these rules to apply to all users of the platform, and for circuit breaker rules (and all trading regulations) to apply to all traders without an exemption, and I expect exemptions to be public, not preferential, and to have a clearly-defined explanation and time period that make sense for all investors...not to be blatant mechanisms to skirt market rules or to keep a poorly-managed entity from dealing with the consequences of its management.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
The SEC should enforce its regulations strictly and in a timely manner. Those entities putting the market at risk with behavior whose oversight is outside of the jurisdiction of the SEC should be met with regulation and enforcement by thier governing bodies. The SEC should publicly encourage these governing bodies to get the offending entities in line with the regulations they are to adhere to to keep the markets safe. (see: derivatives)