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?
Once to a few times a week
4. On average, how often are trades made in your online account, whether by you or someone else?
Once to a few times a week.
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):
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.)
Any apps giving incentives to trade a certain amount/certain type of security sounds like a scam. I should make my own decisions without an app weighing into them. The app should just be a medium through which I can pursue my interests
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.)
Learning that mobile investing was a thing is what prompted me to start investing in the first place
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 : None
Options : 1-2 Years
Mutual Funds : None
ETFs : 1-2 Years
Futures : 1-2 Years
Cryptocurrencies : 1-2 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?
If you have $25,000 and make more than 3 day trades of the same stock, youll be restricted. Personally I think this rule is unfair since it targets poor people. Its supposed to protect them, but I dont think restricting the amount of trades per week reduces the amount of risk thats involved in investing
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I think the fact that investing is so easy now is positive. There should be more resources available with easy-to-understand language that teaches about how investing works though. Robinhood does a great job of teaching what things are. One of the downfalls of mobile investing is that brokers have immense control over their apps, which can hurt consumers - for example when Robinhood halted trading for a few stocks in January 2021, the users of their app were hurt.