August 31, 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 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 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.)
I noticed how 'Free' trading apps are misusing the lack of transparency for both securities and crypto. Their users are not given the best price for order execution. Users are misled by hiding additional cost in the transaction. They are keeping 2nd orderbook systems that allows them to make more money on the spread by changing the sequence and or timing of the order. I call this market manipulation. As an individual investor there is lack of transparency on orders execution and securities owned. An audit trail should be implemented on a per stock level.
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.)
Before, in my offline account. I would only go long on securities, and I didn't care to look at it often. I was aware of \"the risk of losing money\" involved, and didn't invest more than I could miss. Nowadays with online trading features, I am much more involved than I was before.
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 : 5+ Years
ETFs : Less Than 12 Months
Futures : None
Cryptocurrencies : 1-2 Years
Commodities : 5+ Years
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?
Trading availability should alway's be equal for all participants.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I have noticed how the structure of the US stock market over the years has changed in favour of big money and how the corruption has increased. The advent of new technology ML/AI, PFOF, etc. and the lack of market system innovation and regulation to keep up with these new technologies are a big treat. You risk to lose the trust and investment of participants in the US stock market. Why not choose to trade else, where the systemic risk, manipulaton and risk is less.
There is also a big issue with the segregation of duties. Self regulated organisations are allowed to be in control of the complete end-2-end system and self-regulation. Trust is good, but verification is better And if it involves money you can trust nobody..
Enforcement is a joke, fines are 'guaranteed' to be lower then the profit outcome of the offence. Big money has no incentive to stop breaking the rules. Fines should be at least as big as the profit made from the offence.