Keeping our traders safe.
In light of recent news about traders getting in over their heads with options, I wanted to take a moment to shed light on measures that Gatsby takes to help ensure the safety of our traders, along with our plans for the future.
It’s important to us that we empower every trader with all of the capabilities that they need to be effective. But at the same time, we want less experienced traders to be safe and to understand the risks they are taking trading options. Our goal is to make those risks clear, and to provide some guardrails for our users, while still allowing Gatsby to be a learning place for people new to options.
We take suitability very seriously, and our brokerage operations team has developed processes for new applications to facilitate an understanding of options nature and risks. As we roll out new features we will do so in ways that keep less experienced traders more aware of the risks they are taking. We also watch user behavior and activity as part of our regular account review process. We are continually refining our suitability processes, and plan to reassess procedures on a monthly basis.
A Dynamic Interface
Over the past six months, our engineering team has been working on a design concept we call a ‘dynamic interface,’ in which the user interface of Gatsby will adapt to each trader’s style and level of sophistication.
If a trader signs up for Gatsby, our algorithm will look for characteristics associated with more sophisticated trading strategies, and the app interface will adapt accordingly. And vice versa with less experienced traders. This will allow the experience to take multiple shapes and be personalized to each trader.
As we grow our community of traders and continue to develop our technology, Gatsby’s highest priority will be to enable users to take advantage of options in a responsible way.
Options are an important tool in many portfolios, and we’ll continue our focus on building the best brokerage to trade them safely and effectively.
- Jeff Myers
Co-founder and co-CEO @trygatsby