Thornbury Trader Panel
Markets work better when traders help shape them
Thornbury Research Institute is an independent research institute studying retail trading. Real traders in
stocks, commodities, and indices complete structured studies on the platforms they use — the account
opening, the funding, the order ticket, the withdrawal — and get paid for the kind of
feedback that makes trading clearer, fairer, and easier to control.
Discover
How It Works: 4 Simple Steps
At the Institute, real traders shape the future of retail trading by taking part in structured
research studies. Each study examines one part of the trading experience — account opening
and KYC, funding and withdrawals, order tickets, fee and margin disclosure, charting, or
customer support — through the eyes of the people who actually use it. Participation is
always compensated — typically $75–$150 for a 20–45 minute study — and every brief
states the incentive alongside the time commitment.
1
Browse Open Studies
Pick a study that matches how you trade — stocks, gold and oil, or indices.
Every study focuses on one specific slice of the trading experience.
2
Read the Study Brief
A short brief tells you what the study covers, what you'll be asked to do, roughly how
long it takes, what you'll be paid, and exactly how your feedback will be used.
3
Complete the Guided Tasks
Work through a set of guided tasks — open an account, evaluate the funding flow, place
and manage a position, find the fee schedule, test a withdrawal — and rate what you
find as you go.
4
Share Your Insights
Finish with a short survey tailored to the study. Your answers feed directly into
research that pushes platforms toward clearer pricing, faster withdrawals, and fills
that match the preview — and your incentive is paid once the session is complete.
From the panel
Traders already know where it hurts
You think this is the price I will be getting, but in the end the price fluctuates
and it's not exactly what you're getting. I set it as ten Apple stocks — at the open,
due to fluctuations, in the end I get eight or nine.
P9 · GermanyStocks & CFDs, trading since 2017
I segregate my accounts into three different buckets … the options one is purely
money that I don't mind going to zero. … [My broker] has all the information, but
the UI is terrible — there's three or four separate apps, everything just doesn't
seem connected.
P1 · CanadaSwing & options trader
Because of how quickly the market has changed, I don't get the exact amount — I'm
trying to put it at 300 and it ends up entering at 302. I would like a faster
response when placing that trade. … A step-by-step guide would definitely be
helpful.
P3 · United KingdomStocks & crypto, first year of trading
Verbatim quotes from the July cohort interviews, lightly edited for length and clarity.
Participants are identified by code (P1–P9).
Panel platforms include Robinhood, eToro, Questrade, Wealthsimple, Capital.com,
BitGet, Binance, Nexo, BMO InvestorLine, and more.
Frequently Asked Questions
About Thornbury Research Institute
What is Thornbury Research Institute?
Thornbury Research Institute is a market-research platform where retail traders take part in structured
studies about the brokers and trading platforms they use. We turn that first-hand
feedback into research that helps the industry build clearer, safer products.
How does the Institute collect insights?
Through guided studies: members complete a set of real-world tasks on a platform —
onboarding, funding, placing trades, finding disclosures — then answer a structured
survey about the experience. We aggregate the responses; we never publish individual
answers.
How is the Institute's research used?
Findings are compiled into reports for the platforms being studied and, where
appropriate, published publicly in anonymized form so traders and the wider industry
can benefit from them too.
Privacy & Data Protection
Does the Institute share personal information with third parties?
No. Clients receive aggregated results only. Your name, contact details, and account
information are never included in any report or shared with any platform.
Is my data safe and protected?
Survey responses are stored encrypted and access is limited to the research team.
We collect only what a study needs, and you can request deletion of your data at any
time.
How does the Institute keep participants anonymous?
Responses are separated from identities before analysis. Reports only ever cite
percentages, distributions, and anonymized verbatims that can't be traced back to a
participant.
Joining & Participation
How do I join a research study?
Register through the participation form — tell us what you trade and where.
When a study matches your profile, we email you the brief, time commitment, and
compensation before you commit.
Do I get paid to take part?
Yes. Every study carries an incentive, stated in the brief alongside the time
commitment, and paid once your session is complete. Most studies pay $75–$150 for
20–45 minutes; the amount varies with the length and depth of the study.
Incentives are funded by the study's sponsor and administered by the Institute.
Can I refer other traders?
Yes — referrals are rewarded. After your first completed session you receive a
personal referral link. When a trader you refer completes their first study, you
earn a cash referral bonus: $50 for your first successful referral, then $25 for
each after, up to five per quarter. Referred traders register themselves through
your link, are screened like any other applicant, and earn the full study
incentive as normal.
How does the Institute keep its research compliant?
Studies are observational: we ask about your experience of a platform. We never give
trading advice, never tell you what to buy or sell, and never require you to risk
money to participate.
Does the Institute run custom studies?
Yes. Brokers and platforms can commission studies on a specific flow, feature, or
audience — from order-ticket clarity on commodity platforms to how clearly margin
requirements are explained to traders new to indices.
Compliance & Trust
How long does a typical study take?
Most studies take 20–45 minutes: a short brief, a set of guided tasks, and a survey.
The estimated time is always shown up front.
What makes Thornbury Research Institute different from review sites?
Review sites collect unstructured opinions from anyone. The Institute runs controlled
studies with verified traders completing the same tasks, so the results are
comparable, quantifiable, and far harder to game.
Study Details
Do I need to place a real trade or fund an account?
No. Many studies use demo accounts or stop before the funding step. When a study
does involve live functionality, that's stated clearly in the brief and it's always
your choice to take part.
Where is Thornbury Research Institute available?
The Institute runs studies across English-speaking markets — the US, Canada, the UK,
the UAE, Singapore, Australia, and New Zealand. Some studies are limited to
specific markets or account types; every study brief states which up front.
What kinds of platforms are studied?
Online stock brokerages, futures and commodity brokers, CFD platforms, and
apps for indices and ETFs — anywhere a retail trader opens an account, funds it,
and places orders.
Can I stop participating at any time?
Yes. Participation is always voluntary. You can leave a study, or delete your
Thornbury Research Institute account and data, whenever you like.
Is the Institute affiliated with or paid by brokers?
Platforms commission and pay for studies — that's what funds member compensation.
The methodology, questions, and published findings stay under the Institute's control,
and no client can edit what participants said.
Real insights.
Real traders.
Real impact.
Thornbury Research Institute helps brokers and trading platforms understand their traders like never before.
Our research goes past dashboards and drop-off charts to what actually drives them: honest,
structured feedback from real traders on your onboarding, funding, order flow, pricing
clarity, and support — what works, what doesn't, and what quietly pushes people to a
competitor.
Why Thornbury Research Institute?
Authentic trader feedback
We go straight to verified retail traders and capture their real experience on your
platform. No assumptions, no proxy metrics — just structured first-hand data.
Actionable insights
Every study lands as clear, prioritized recommendations tied to the flows that drive
activation, funded accounts, and retention.
Competitive edge
Knowing exactly where traders hesitate — and why they choose a rival — lets you fix
the right friction first and stand out in a crowded brokerage market.
Disclosure & trust alignment
See how clearly your risk warnings, fee schedules, and margin terms actually land with
traders — meeting your obligations while building an experience people trust.
July cohort findings
What nine recorded interviews surfaced
In July 2026 we ran nine recorded interviews with retail traders in stocks,
commodities, and indices — their real setups, their frustrations, and what would
actually make them switch. Key findings:
7 of 8
Positioning beats copying
Reacted positively to seeing verified trader positioning — while, almost without
exception, refusing to hand money to automatic copy trading.
6 of 9
The price–fill gap
Raised execution predictability or hard-to-find costs in response to open questions
about frustrations: prices that differ from fills at the open, an order set at 300
entering at 302, market orders landing on "a random entry point."
3 of 9
Incentives move accounts
Described a cash bonus or transfer match as the direct reason they opened or moved an
account — a €120 coupon, an IRA match, a 3% transfer promo.
1 in 3
Custody is a promise
Raised fund custody or withdrawal reliability unprompted. "If you give them your
crypto, you're not really owed it — you're given a promise. And what's a promise
worth?"
From the July Cohort Study (TRI-2026-01, July 2026), nine recorded interviews. Counts
describe this panel; qualitative research reveals mechanisms, not market prevalence.
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your traders.
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