September 25, 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?
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?
Less often than once a 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):
Keep the amount of money I have, while keeping up with inflation
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
Other
If Other, Explain:
I am tired of the absolutely unfair market that exists. It's bad enough that large funds have far more money to throw around than individual investors. But worse, these short hedge funds can collude with private equity funding to put a company into a death spiral through finance terms? Why is this predatory behavior even allowed?
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 dislike the constant \"refer a friend, get a share\" type of promotions. It feels very pyramid-scheme and I don't appreciate constantly being pushed to bring other people to a platform. If I want to convince other people to come, that is my choice. It should not be prompted on a daily basis.
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.)
I understand a great deal more about the moving forces behind today's corrupt stock market and am disgusted by it. It is appalling how little the SEC is doing to fix what is obviously corruption in the market. It should NOT be possible for the entire float of a stock to be shorted. It shouldn't be possible for MORE than the entire float to be shorted. Eliminate the loopholes that are allowing ANY of this to happen. The stock market should NOT be like a rubber band, being stretched by those that break the rules and lie to other market players until it breaks. We can stop this abuse. Why not do it?
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 : Less Than 12 Months
Mutual Funds : 2-5 Years
ETFs : 2-5 Years
Futures : None
Cryptocurrencies : Less Than 12 Months
Commodities : None
ClosedEnd Funds : None
Money Market Funds : Less Than 12 Months
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?
Margin call
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Equal access to investing should be a human right, like health care, food, and shelter should be.
Online trading and apps are a step toward equal access, but it is missing the crucial ingredient on the other end: enforcement. Until equal enforcement happens, retail investors do not have equal access. Until retail investors have access to exactly the same public domain information that the big hedge funds have, retail investors are not equal. Until predatory collusion against the competition is enforced in such a way to deter everyone from ever doing it, retail investors are not equally investing into the market.
When it is possible for market makers to see all retail trades come in prior to filling them because of PFOF, that is literally inside information. It is inside information of the brains of the retail investors and their decisions. This is obvious. It should be treated with the utmost care so as not to have a conflict of interest. Yet, that isn't what happens with PFOF.
Worse, being able to throw your weight around as a billion dollar market maker against retail investors effectively just takes their money. Betting against the retail investor with inside information bullying and it is theft.
Today's market is not equal and you all know it. Insider trading happens constantly with politicians, appointed leaders of various agencies, and more. It is ridiculous and simply unfair, and that is why insider trading is illegal. Why aren't politicians who have not been honest about their investing immediately stripped of public office? This should be a one strike rule and you're out. One strike of insider trading, and you are GONE from public service at best, and serve jail time at worst, proportionate to the scheme that stole money from honest people.
The answer is simple: Be consistent with enforcement. Enforcement should be a true deterrent against bad behavior, not simply a cost of doing (illicit) business. Be fair. That is the entire point of making laws -- to make all people under the law treated equally. When a law exists and unfair treatment still happens, the enforcement is the problem.
If you, as the SEC, are not equally enforcing, FIX IT. The fines you and FINRA charge are simply not deterrents to the big players. They do not care. Make the penalty actually hurt, so as to cause the player being penalized to never take that action again. Make it cause their competitors to jump back and say \"whoa, make sure we aren't doing anything close to what they just did.\"
The penalties for wrongdoing right now are completely and utterly laughable compared to the illicit gains received by the market makers, prime brokers, colluding hedge funds, and banks. They are stealing retail's money and have been doing it for decades by manipulating the market to their benefit.
$AMC $GME I AM NOT LEAVING.
ENFORCE. Do your job.