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?
Daily/more than once a day.
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
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'm on multiple platforms. \"Comments\" sections are totally out of control on Webull. Social networking should be minimal if not nonexistent on investment platforms.
I get that you're trying to say gamification is bad. I would say it depends on how it's used. If it encourages people to make regular, sound investment decisions that's fine. If it's just to encourage more trading, that's negative.
The worst problems with the market aren't gamification, it's structural with PFOF and the multitude of conflicts of interest. Self Regulatory is a joke. I have very little confidence that rules are being enforced on hedge funds and big money.
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.)
My knowledge has increased with experience and access to information. This often isn't the online brokerages themselves.
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 : 1-2 Years
Options : 1-2 Years
Mutual Funds : 5+ Years
ETFs : 2-5 Years
Futures : None
Cryptocurrencies : Less Than 12 Months
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?
Minimal. I know about some day trading and other restrictions but I'm also confident they would suspend my account in a heartbeat if it was in their interests.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
Please restore retail confidence in fairness and increase transparency. Or generations of investors will be leaving the US markets. Nobody believes it's remotely fair or transparent, and now also that the rules aren't enforced. Fines are seen as the cost of doing business. Failure to address and repair this is incredibly dangerous and short sighted. I can't say this strongly enough.