FMA wants to prevent ‘Robinhood style’ trading

FMA wants to prevent ‘Robinhood style’ trading
Online trading platform Robinhood restricted trading in Gamestop shares after retail traders targeted the stock. (Image: Getty)
Dan Brunskill
The Financial Markets Authority is happy with how retail investment platforms are operating in New Zealand but is watching for poor behaviour seen overseas.The regulator conducted a survey of 2,000 platform users to give it a better idea of how people were investing and what risks they faced.Results from the survey were largely positive, showing the majority of investors were not day-trading and were highly motivated to learn about building wealth.However, it also found investors were strongly influenced by the fear of missing out (FOMO) and th...

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