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 online, either using a computer or a mobile app but I also access the account(s) in other ways (e.g., by calling or visiting in person).
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):
Other
If Other, Explain:
Long term holding of undervalued stocks for the purpose of wealth management.
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.)
Online platform with a social feature.
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.)
Always been online.
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 : 1-2 Years
Bonds : None
Options : None
Mutual Funds : None
ETFs : 1-2 Years
Futures : None
Cryptocurrencies : 1-2 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 should not be the case since I do not use margin or CFDs, nor do I buy options or open short positions.
All my trades are made with cash and I buy the underlying asset, although they are registered in street name, which is a problem in itself.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
1. DRS should be made available at the broker level. I want my name on the shares I buy, since the SEC cannot protect me or my investments while they are registered in street name.
2. PFOF should be illegal. Front-running retail due to billions of dollars invested in trading software gravely affects a supposed free market.
3. Naked shorting should be illegal. It is the same as creating counterfeit currency. It is a federal ( even universal ) blatant offense punishable by law. Ease of liquidity is not a valid justification.
4. Dark pools should be shut down. There is no need to reroute retail's orders through dark pools, as they were meant for big blocks of trades in between institutions. If their capacities are being abused, institutions should loose the right to access them.
5. All trades should be on the lit market and not in small lot batches. My investment should mean something. This point is an extension of the previous one.
6. Fines against hedge funds should be 10x what they cost the public traders instead of the cost of doing business. The fines enacted by the SEC are most often a ridiculous amount in comparison to the profits of the illegal or immoral trades made by the fines institutions. A simple comparison would be:
The SEC fines are simply trading fees.
These were points made by a close friend which I wholeheartedly agreed due to the impact these points have recently made in the markets.
Thank you for you time,
Retail Investor.