August 28, 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 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)
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 don't really view gamification as wrong. Yes, most app makers do use gamification or \"triggers\" to \"hook\" users, and that might work to a certain degree for certain age groups. I'd say most millennials and younger are pretty keen to maneuver around confetti and notifications - even more so when it's related to money. I cannot speak for other generations.
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.)
N/A
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 : 1-2 Years
Bonds : None
Options : Less Than 12 Months
Mutual Funds : None
ETFs : Less Than 12 Months
Futures : None
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?
As long as I'm not exploiting any sort of glitch in the software, then I don't see how I'd warrant suspension. On the other hand, I'm now very familiar with certain broker's desire to restrict buying of certain stocks for their own gain. Doing so caused/can cause irreparable damage to the retail investor.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Back in January, I experienced a severe breakdown in what I thought was a free and fair marketplace. I invested a large sum of money into Gamestop stock given the bright outlook based on fundamentals. Robinhood (my broker at the time) heavily restricted and later completely cut off the ability to purchase GME, which directly led to a massive tumble in the share price. Infuriated and refusing to bow down to what I firmly believed was outright fraud and manipulation, I continued to purchase more of this equity, and only this equity. Even though I've amassed a considerable amount more through my new and more reputable broker (Fidelity), it still does not change the fact that I've basically lost all confidence in the US stock market. What happened back in January (and March, and July, and even now as you must know by now) was outright criminal. Unless those responsible - those who use every loophole and illegal maneuver to short the little guy - are not behind bars, I will no longer be participating in US markets. Beyond purchasing more of my favorite idiosyncratic stock, that is.