August 30, 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):
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
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.)
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 used to buy mutual funds and not look at them for years. Once trading became commission free and easily accessible I started learning to take day and swing trades. I first started doing a lot of research to learn how the markets work and how to place trades. I studied fundamentals, technical analysis, and all the different types of strategies but after a few years I started to realize the whole game was rigged so I've stopped investing.
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 : Less Than 12 Months
Mutual Funds : 5+ Years
ETFs : 2-5 Years
Futures : Less Than 12 Months
Cryptocurrencies : None
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?
Pattern Day Trading rule, IRA restrictions, Circuit breaker halts
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I think dark pools have their place but need to be heavily restricted, payment for order flow should be abolished for retail trades even via aggregate orders through market makers and round lots should be rethought on how it sets the national best price as it devalues smaller retail share purchases on stock price. We need more transparency and a more fair and balanced market. I think the SEC should take a really hard look at IEX exchange as a means to curtail high frequency trading by limiting orders speeds to bring more balance to the market rather than it being the fastest one always wins. Short selling and naked short selling needs to be more thoroughly reported and investigated with loop holes being closed. It's crazy that companies stocks can be shorted more than 100% because there is multiple days for settlement to take place to find those shares to borrow before being considered a failed to deliver at which point even more time is allowed to find those shares to borrow. By the time it's all been figured out the value of stock has been severely damaged. It shouldn't be able to get to that point.