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?
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 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 short-term goals (in the next year or two)
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 am using the Plus500 app. I tried other apps but I like the UI and instrument choice of this one. I am not interested in social and gamification features or reward schemes.
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 have not invested other way than online. I have made mandatory social security and retirement contributions. I have bought small amounts of physical precious metals and mined cryptocurrency.
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 : None
Options : 5+ Years
Mutual Funds : None
ETFs : 5+ Years
Futures : 5+ Years
Cryptocurrencies : 5+ 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?
Not passing the yearly KYC/AML check. Not aware of other possible causes.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I obviously have no hard data to back this up, but I believe either the company running the app or the institutions it deals with are abusing the information asymmetry to discriminate against retail traders like me. I have been trading for over 10 years and while I understand trading carries a significant amount of risk, some of my losses are quite difficult to explain by probability alone. My trades often reverse against me soon after going into profit and then stay negative until they either hit my stop loss or liquidation price or until the option expiration date. I would love to participate in a fair market by assuming risk and providing short term liquidity to businesses who need it in exchange for potential profit, but it feels more like gambling or getting scammed by insiders looking to extract capital. I am not going to participate in the market for much longer unless conditions improve and the suspicious activity ceases.