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 online using a computer.
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):
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 find games, contests, prizes, points, celebratory messaging to be detrimental to the seriousness with which one should approach investing. Such should not be confused with simplifying the mechanics of investing, or the very real need to improve investor financial literacy, and financial education.
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.)
Accessing my accounts online have made it easier to engage, monitor , and learn about investments, and markets. My view is that the gamification of what otherwise should be a very serious endeavor will prove to have been very bad for individual investors.
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 : 5+ Years
Mutual Funds : 5+ Years
ETFs : 5+ Years
Futures :
Cryptocurrencies :
Commodities :
ClosedEnd Funds : 5+ Years
Money Market Funds : 5+ Years
Variable Insurance Products :
Business Development Companies :
Unit Investment Trusts : 5+ Years
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 there are a myriad of very specific rules that need to be followed when buying or selling certain securities, and they may vary by the experience, risk tolerance, and financial sophistication of the investor, and failure to understand and follow those rules may end in suspension from trading.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Being able to access my investments online is a wonderful convenience, and managed well by financial institutions, can be a powerful tool in advancing investor education, and lowering overall investment risk. I do however , think that select firms are very much abusing this channel. I strongly suggest the SEC poll investors/ traders with say, less than 5 years experience, AFTER a sustained ( and inevitable ) and meaningful market correction. I suspect you will get much more invaluable feedback and insights at that pointpoint