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?
Once to a few times per month
4. On average, how often are trades made in your online account, whether by you or someone else?
Less often than once a 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):
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.)
Your questions above are a bit off. As a longtime 401k investor, I've had online accessible accounts for decades. Mobile apps are simply a new convenient way to continue doing what I've been doing my entire adult life.
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.)
As a fundamentals value investor, neither my strategies nor behaviors have changed from website apps or phone apps. The nice thing about the phone app, is that when I'm talking stocks with friends I can consult the phone app for details I may struggle to remember.
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 :
Mutual Funds : 5+ Years
ETFs : 5+ Years
Futures : None
Cryptocurrencies : None
Commodities : None
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?
My understanding is that I would have to enable an account to become a margin account, and that were I to do so I could exceed my margin requirements and have the account suspended or restricted. That is precisely why I don't trade on margin, I don't consider myself smart enough.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I feel that this new mission to somehow protect retail by combating \"gamification\" is at best of minimal utility, and at worst alienating the very public retail investor you're supposed to protect. If you want to protect retail, start putting financial fraudsters in jail and/or revoking their licenses. Also, perhaps any fines levied should be over and above the amount of profits generated by illegal behaviors. Furthermore, the SEC has known about Strategic Fails for decades and as far as I can see you continue to ignore it... a market behavior that robs every retail investor with a pension fund or retirement account including federal pension funds. Aren't there specific rules against cheating federal funds? While I understand the SEC is a large agency and able to dedicate teams to multiple initiatives, if you all don't start fixing these systemic problems then the criminals will continue to increase the severity of their behaviors until we see yet another Enron or Bear Stearns or Arkegos cost the hard working tax payers of this country dearly.