This article was written in collaboration with Futu SG. All views expressed in the article are the independent opinions of Sethisfy.com.
Sick of high investing fees but not sure where to start? This is a guide for you to using moomoo for do-it-yourself investing into exchange-traded funds (ETFs).
moomoo Promo Details (tap here for guide)
Updated: 23rd April 2022
The offer listed here will take precedence over the rest of the article.
|Register and open account with this link||(i) Lifetime commission-free trading for US stock market*|
(ii) 1-year free platform fee for US stock market*
(iii) Free access to real-time Lvl 2 Market Data for the US stock market
(iv) Free access to real-time Lvl 1 Market Data for the SG stock market
(v) Free access to real-time Lvl 1 Market Data for China A Shares market
(vi) SGD 10 Stock Cash Coupon
(vii) SGD 30 Fund Cash Coupon
|First deposit of SGD 2,700 & above (SGD 1,000 for students^)||(i) 1 chance to spin the wheel and get 1 free share worth between SGD 20 to SGD 1,000#|
For reference only; see full terms and conditions
*Commission-free trading involves other fees
^For existing students who are holding a student card/ pass from a local Singapore educational institution. Upload student card/pass during account opening to qualify. See full terms and conditions.
#Reward value is as of 13 April 2022. This campaign is not related to any of the companies offering the shares which are being given out as part of moomoo Welcome Rewards.
Using the moomoo app
In the moomoo app, find Quotes in the bottom navigation row:
Over here, you will see the Watchlists tab, and you are free to add stocks to Starred so you can have easy access to things you wish to monitor. You can even add cryptocurrencies so you can just monitor everything in one app.
Use the Magnifying Glass on the top right of the page to find stocks. For instance, you can search for “STI” to find ES3 STI ETF which tracks the Straits Times Index, Singapore’s stock market index.
When you tap on it, you can see a range of information on the ETF such as performance. You can also explore the various tabs for this quote, such as Comments to discuss about the ETF, News to see… well, relevant news, and finally Summary to have a feel of what we are investing into.
When we buy ETFs, we are invested in a variety of stocks at a relatively small cost. For example, when we buy ES3 STI ETF, we can get diversification across Singaporean companies with a small capital outlay of $3.11 per unit (minimum 10 to purchase).
Tap the Trade button and you can set a target purchase price, or set it to MKT Price with the Crosshair so you can just buy the ETF at market rate. Select the QTY you wish to purchase. If you are setting a target price, you can either set it to expire on the day itself, or have it wait for the price to be reached with the Good-Til-Canceled option. As the name suggests, it will buy the ETF when the desired price is reached, or until you cancel it.
Once your order is successful, you’ll get an in-app notification. Congrats! You own a tiny, tiny fraction of Singapore’s stock market!
For demonstration purposes, I bought 100 units of the ES3 STI ETF for $310.99. When trading via moomoo, you will be charged a 0.03% commission of the transaction amount by FUTU SG, but there is a minimum S$0.99 commission. There is also a 0.03% platform fee with a minimum of S$1.50. This means that I paid $2.49 in fees, which is about 0.8% fee. That’s pretty cheap, and you can opt to purchase more per transaction to reduce the percentage further.
Now that you know how to buy ETFs via moomoo, do your own research on what are some ETFs you can invest in! I’ll be talking more about this topic in the near future, so subscribe to my Telegram to keep updated.
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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