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?
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 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):
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.)
I have Fidelity and its UI is nice and streamlined without being too flashy. I wouldnt say the app adds any gamblers rush or similar effect to the experience. Its just access to stocks and information.
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.)
The ability to research and trade at the same time is definitely increased my knowledge, but Ive only ever just gone long on stocks so I wouldnt say my habits have changed. Its only made me better.
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 : Less Than 12 Months
Mutual Funds : None
ETFs : Less Than 12 Months
Futures : None
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?
I understand that every broker has their own policy so the investor is at the mercy of whatever the service terms are, which obviously I disagree with. Based on The events around GME in January its obvious either the people in charge of regulating the stock market either are so incompetent (no offense to either GG I know you werent there.) that they have no idea how the stock market works, or the market is somehow setup in such a way where too many people going long on a stock can mess things up. I dont know which of the two is more exasperating. Anyway apparently also if the clearing houses are at risk heaven and earth will move to suspend trading.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
With all my complaints I must that I have profited, and I have learned. Participating in it has been interesting. If you told me in fifth grade Id love looking at graphs someday I wouldnt have believed you. That being said, the deeper I dig into the deeper workings of the market the feel less like workings and more like schemes. Im eloquent enough but I know others taking this survey will speak of those schemes far better than I ever could, so I wont elaborate on them. Suffice it to say the negatives are quite obvious. We need more transparency on shorts. We need blockchain. We need to stop trusting the same people who profit from the industry to regulate it. We need to stop people who leave a regulatory board from being able to work at a Market Maker days later. Why isnt this seen as conflict of interest? The Guiding Hand is only guiding the money right back to them.