I have shared in previous posts on my journey of building a new growth portfolio in US stocks using this new online brokerage platform, Moo Moo.
Let me explain the reasons why we should grab hold of this great opportunity to start investing or trading in US, HK and SG stocks using this new platform.
After signing up for a Moo Moo account (Sign Up via this Referral Link or clicking on the image above), funding the account with at least SGD 2,700, USD 2,000 or HKD 16,000 within 30 days of account opening, downloading the Moo Moo trading app from Apple App or Google Play store and completing the simple onboarding tutorial activities, one Apple Inc. (AAPL) share will be credited to your account.
To receive the free share of NIO which will be given out starting 30 Jun 2021, 8pm SGT, you just need to complete 5 successful trades or unlock the Level 1 Trading Badge within 30 days from account opening.
The linkage via DBS/POSB bank account is seamless and after getting the free AAPL share and NIO share, we could even withdraw our monies back into our bank account.
In the Moomoo app, there are simple activities in the Task Center for us to complete to earn points and free shares of General Electric (GE), Nokia (NOK) and Blackberry (BB). Currently, there is a quiz event, which tests our knowledge of investment and understanding of Moomoo trading platform, allowing us to win cash daily till 10 Aug 2021.
Furthermore, you will enjoy 180 days of unlimited commission-free trades, free Level 2 Market Data for US stocks and free Level 1 Real-Time Market Data.
You could also make referrals and enjoy up to 20 Twitter (TWTR) shares and additional 600 days of unlimited commission-free trades (1 Twitter share and 30 days of commission-free trade for each person)
In addition, for successful positions/shares transfer-in to the trading account, you will be entitled to a $50 cash coupon for the first transfer-in only.
The promotion is until 2 Aug 2021, 8pm SGT as of time of writing, so act fast whilst it lasts.
Safe, Trusted and Secure
The Moo Moo trading platform is powered by Futu Singapore Pte Ltd. which is a subsidiary of Futu Holdings Limited, a leading Financial Techology company listed on the NASDAQ (NASDAG: FUTU) and backed by Tencent Holdings (SEHK: 700), venture capitalist firm Sequoia Capital and Matrix Partners.
Futu Singapore Pte Ltd. is licensed and regulated by the Monetary Authority of Singapore (MAS) License (No. CMS101000). US securities in the account are protected by up to USD 500k and cash in the account by up to USD 250k by Securities Investor Protection Corporation (www.sipc.org). Its local office is located 160 Robinson Road, #25-07, SBF Centre, Singapore 068914.
Very Low Cost
The Moo Moo trading platform charges very low commission and platform fees as follows:
Commission Fees (subjected to 7% GST)
US Stocks, ETFs & ADRs: USD 0.0049 / share, min USD 0.99 / Order
HK Stocks & ETFs: 0.03% of investment amount or HK$3, whichever is higher
Singapore Stocks, ETFS & Reits: 0.03% of transaction amount, min. SGD 0.99
Platform Fees (subjected to 7% GST)
US Stocks, ETFs & ADRs: USD 0.005 / share, min USD 1 / Order
HK Stocks & ETFs: HK$15 per order
Singapore Stocks, ETFS & Reits: 0.03% of transaction amount, min. SGD 1.50
Do note that other regulatory fees i.e settlement fee, SEC fee (sell only), ADR custodian fee are waived during the promotional period and may be applicable in future. For futures and options, the fees charged are also higher than the above and listed on https://support.futusg.com/en-us/topic143
Good Headstart
With free shares to lay the foundation of building an investment portfolio, low trading costs to maximise gains and minimise losses, the Moo Moo platform also offers an intuitive and robust investment platform, rich in trading analytic tools, access to global financial news and investment community. All these factors sum up to provide a very good head start to new investors and even veteran investors or traders who are continually improving and honing their games.
User Friendly and Good Customer Service
Moo Moo offers robust, fast and user friendly platforms for trading on all mobile devices and computers. I have tried out the platforms and was impressed at the rich features, quality of interface and speed of executing tasks.
The customer service is responsive and besides using conventional emails to reach them, there is AI chatbot which we can ask all sorts of questions pertaining to the trading platform and even reach out to real customer service agent. I have engaged the customer service and managed to get my queries and doubts answered promptly.
I believe that I have found the right platform to give myself a headstart into US stocks. This new brokerage still has plenty of room for improvement. For eg. access to UK, Europe and other asian markets, robo investment features, FX trading and so on. However, I would recommend beginners and those who have not traded foreign stocks before to just grab the free Apple stock, and learn to trade using paper account or small amount of real money to gain real experience. It all begin with the very first step.
Thanks for reading. Stay safe and remain strong as always.
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