Moomoo is a new trading app that lets you trade stocks in an easier and cheaper manner, and it is brought to you Futu Holdings. Futu may not be a familiar name to most Singaporeans, but they were founded in 2011 and listed in the NASDAQ on 8th March 2019, with Tencent as their major investor. They are operating in Singapore as Futu Singapore Pte. Ltd. (“Futu SG”) which is licensed and regulated by the Monetary Authority of Singapore (MAS).
To encourage people to trade with their app, Futu SG is having a launch promotion that is exceptionally generous, and this will only last until 30th April 2021 (1500hr SGT) . Here is what you get what you sign up with this link and deposit SGD2,700:
- Commission-free trading in US, HK, and SG markets for 90 days
- Free level 2 market data for US market
- SGD30 cash coupon
- One free Apple Inc. (AAPL) share (currently worth approximately SGD180)
Analysis of benefits
$30 and 1 free AAPL share is almost $200 for very little work, and is a no-brainer for anyone, investor or not, to take advantage of.
For those looking to dip their toes into investing, Futu SG also lets you get started into investing in a very low cost manner. Some brokers can charge as much as $25 as for their minimum fee, which forces you to make bigger transactions each time to avoid a high commission rate.
Futu SG, on the other hand, charges the higher of 0.06% or $2.49, which means the minimum fee is as low as $2.49. Besides, you get commissions waived for 90 days for trading in US, HK, and SG markets! This means you can start with low amounts that might not make sense at most trading platforms owing to their minimum charges.
If you are someone indeed someone who trades fairly regularly, you’d definitely appreciate the commission waiver for 90 days. It’s a very generous offer that may even exceed the value of the free AAPL share depending on the volume of your trades.
The sign-up process is very simple. Just sign up here, and you can use SingPass MyInfo for a convenient onboarding process. After that, download their moomoo app to manage your investments on the go. Remember to sign up through the link first to secure your sign-up offer!
Even if you already have other trading accounts, this sign-up offer is hard to ignore.
If you don’t, this is an excellent time to start, and you have almost $200 of gifts and a commission-free period to build your investment up slowly. Other accounts may not be so conducive for you to invest small amounts at first to try out.
Investing involves risk and Sethisfy.com is not liable for any financial loss. You are encouraged to exercise due diligence when signing up for any financial product.
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