September 14, 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 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 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.)
The special effects are meaningless to me personally as an adult, but I despise them for their psychological effects on people. Awards and badges should come from accomplishing something meaningful which I decide, suiting my goals as opposed to arbitrary accomplishments laid out by the app/broker, that tend to benefit the brokers.
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.)
Does not apply.
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 : 1-2 Years
Mutual Funds : 5+ Years
ETFs : 5+ Years
Futures : None
Cryptocurrencies : 5+ Years
Commodities : None
ClosedEnd Funds : None
Money Market Funds : 5+ Years
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 I understand it, most brokers have the ability to suspend or restrict trading whenever they see fit. The long agreements we click on to accept are so long it is unreasonable to expect every one to read and understand it all to sign up, let alone changes made to said agreement after the account is created and those changes are accepted with a click just like when signing up. There is always an excuse to do what is wanted, just need a lawyer to find a way.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I am thoroughly disgusted with Payment for Order Flow as the primary source of revenue for any broker. I am less disgusted but still not accepting of this practice from larger brokers that still sell their clients to market makers, wholesalers, and internalizers if that broker gives the client an option to choose their routing but this too is terrible. It, to me, sounds like the fiduciary duty towards me as a client is placed second to their own profits and revenues. Ad I do mean to say that we as clients are sold, not just our orders. We become pieces of information instead of people with intentions and our information is potentially used against us by those purchasing the order flow. I've always thought that the markets are rigged against the normal person but did not know how badly so I til learning the outer layer of the inner workings, and honestly I have little reason to believe in these markets for long term growth and trust that new technology will create a more equitable sector in crypto that gets my generation and the ones that come after away from the fugazi that is the capital markets.