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?
Yes
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 had a pre-existing account and downloaded an app or visited a website to access my account
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
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.)
There are a lot of discrepancies in reported numbers (volume, ask price, etc) between different trading platforms. I havent experienced any sort of game-like features that are used as examples. I feel that for the most part trading platforms are allowing everyday people to participate in the market which was otherwise just available for use to the rich or powerful. There also seems to be a huge influence by larger companies and groups as to which stocks get pushed on the media, and which are attacked. There are online people/bots messaging others to invest in certain stocks and to get out of certain positions, I have never seen or heard of this happening before. Robinhood seems to be encouraging bonuses for depositing a certain amount of money on their platform recently, but I dont think that has to do with encouraging it to feel like a game, it more so just seems like they needed the liquidity on hand.
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.)
Interest and actual investment amount has gone up since Ive accessed my account online. Full disclosure, I have not earned any significant amount of money from trading. I have researched the market and how it works a lot more, and have learned more online than I ever have in any economics classes. I had a much narrower view of how the market worked before actually investing and doing research. I honestly had a lot more faith in the system before furthering my investments and research, I truly believed that companies who were in the wrong were always punished and that there was a free market.
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 : 5+ Years
Options : None
Mutual Funds : None
ETFs : None
Futures : 2-5 Years
Cryptocurrencies : None
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?
Restricting (temporarily) if there is too much volatility in the market as a whole or a singular stock. Suspended for failure to disclose positions, earnings, falsifying information, delayed reporting, etc. Any sort of misuse of the market or using illegal practices would be circumstances to suspend an account. I would love to see the same rules applied to larger institutions and players as well to encourage a free market. I do not feel that it is morally or otherwise right of institutions or big players to impose restrictions themselves for personal reasons or gain.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I feel that there is an incredible lack of transparency in the market. In recent months theres been a plethora of information submitted to the SEC and others by individuals yet nothing seems to be done. Dark pool volume is through the roof, transparency on behalf of big players is lacking significantly, and big players such as market makers and hedge funds arent being punished in the slightest when theres wrongdoings and they are allowed to continue delegitimizing our fair market and it is causing lack of faith in the market and the agencies that are supposed to protect it. The US is supposed to be able to set examples and lead and at the forefront of that is supposed to be a strong economy, I feel that big players are taking advantage of our system and are going to cause immense issues not just within the market but for all people. I do believe its possible to have a fair and transparent market, but that will not happen until the SEC and others step in. There are also so many people with a clear conflict of interest that are being allowed to make decisions on behalf of individual investors, while taking money for speaking fees, or being on the board of a company that they are supposed to be unbiased about. Shorting stocks to oblivion is also a practice that has been largely ignored, companies are able to endlessly short stocks with no repercussions. If larger players were force liquidated from certain over leveraged positions, I genuinely think the tax money on the earnings would pay off a ton of the USs debt and show people that we can have a transparent and fair economy, where anyone who wants to participate is able to and not at a disadvantage.