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 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?
Once to a few times per month
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 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.)
Most of the features listed are completely irrelevant to me and my investment decisions. I do like leaderboards, but that is so I can see what other people have successfully invested in.
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.)
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 : Less Than 12 Months
Bonds : None
Options : None
Mutual Funds : None
ETFs : Less Than 12 Months
Futures : None
Cryptocurrencies : 2-5 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?
There are no circumstances where I believe it's okay to suspend or restrict trading. It is my decision how I invest my money. If trading is suspended to protect clearing firms, that is not my problem to burden. Clearing firms need to have sufficient resources to handle high volatility since that is their job in the markets. To maintain free and fair markets, trading should not be suspended. Instead, market structure needs to be designed to handle extreme volatility, even at the detriment of clearing firms.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Online trading is a great way for new investors to get into the market. However, after seeing trading shutdown on multiple stocks in January, it is obvious that market structure was not designed with online investing in mind. Market structure needs to be updated so it can handle a large influx of new investors without breaking the system. If market structure was updated to reflect online investing, then the markets should be able to handle high volatility that may come with a large influx of investors.