September 26, 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 a week
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 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):
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
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.)
Nice to see real time trading data. Paid for L2 access with Robinhood. Too many notifications through that platform. Fidelity was a great alternative, albeit less user friendly.
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.)
Interest in learning how investing works has increased. Purchased stocks based on political trends rather than companies I like.
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 : 2-5 Years
Bonds : None
Options : Less Than 12 Months
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?
It was little-to-none until January 2021 when Robinhood PCO'd. I understand the circumstances around this now, but truly wish it was made more apparent, rather than needing days of research to understand.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
What started as a positive experience has since turned into a calloused and distrustful one. What is made so simple- put money in company and see your investment develop - has turned into what feels like a Ponzi scheme. Pretty disgusting. The lack of transparency and \"elites club only\" around all the mechanisms behind the curtain of trading is daunting. I mean, I do not feel entitled to the entire \"secret formula\" behind stock trading, but at least let me know upfront and clearly if my purchased stock is actually registered in my name and not being lent out or PFOF'd to some market maker. Transparency, please.