[DO NOT OFFER REFERRALS] Futu trading (moomoo) New brokerage for US/HK Stocks

wutawa

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Anyone took the free iPhone from them?

gn.png
wah, congrats!
 

sohguanh

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sohguanh

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moomoo going to start crypto trading and now 5000 priority access 0 commission until Sep 2024. Crypto is play the price of the "coin" up and down correct? Similar to stock but stock is a real company.
 

sohguanh

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moomoo going to start crypto trading and now 5000 priority access 0 commission until Sep 2024. Crypto is play the price of the "coin" up and down correct? Similar to stock but stock is a real company.
Today I get it.

1. To activate need answer 8 questions. 5 out of 8 correct ok pass can be activated
2. They remove concept of wallet and replace with a Universal Account - Crypto. Dunno why need to have new one separate from existing Universal Account
3. To play, monies transfer from Universal Account to Crypto and vice versa
4. Play around seem similar game play as forex just that forex is leveraged minimum 1 lot is 100k wow. Check all the coins cheapest still about SGD 20+ per trade. Comm think is free until Sep 2024.
5. The price movement no joke sia. No wonder moomoo don't offer margin for crypto.
6. Wonder if got ETF that track all of them BTC ETH XRP etc. Now ETF all only focus on one coin each no mixture kind. ETF if got fractional can lower further our minimum per trade to say 5?
 

wutawa

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sohguanh

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sohguanh

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Just to add on since no wallet concept there is no cryptocurrency stored into the wallet where you can say deposit or withdraw etc. Essentially this new crypto feature by moomoo is like paper gold where you play with the price up and down. But I read faq it seems the cryptocurrency is in some trust account with DBS they work with.

Hope OCBC precious metals can add this crypto in very similar game play.

DBS allow crypto but restrict to Institutions and Accredited atas customers I just check website.
 

sohguanh

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After play yesterday think it is quite volatile. Maybe the spot Bitcoin ETF is safer? But the 11 approved this year start all no fractional support yet. To me spot Bitcoin ETF is like Gold ETF backed by actual gold or cryptocurrency behind. Conceptually they are very different but in terms of gameplay like buy sell etc quite similar. BTC/USD , XAU/USD etc
 

sohguanh

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Take note the 0 comm is for first 5000 who activate. Platform fee still need to pay.
0.49% for commission fee to moomoo
0.50% for platform fee to moomoo with minimum at SGD 0.99 or USD 0.99 but this minimum waived for promo period
0.20%? for the exchange etc fees
Just to share they got give the 0 comm for first 5000 who activate. I received the notification today so I guess I among them. Got until 30 Sep 2024 to try out.

For most volume I think BTC ETH best. The other coins volume quite low. For capital gain gameplay no volume very dangerous no one buy if you wanna sell so I think stick to BTC and ETH.
 

sohguanh

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Wow how u all accumulate 10k points?
Check in everyday. Play game. Read article. Vote etc. moomoo like Shopee many patterns to earn points. In contrast IBKR except spot exchange rates and 35 cents per trade nothing else interest me. Their many other features I dunno so never play.
 

yslvlys

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Check in everyday. Play game. Read article. Vote etc. moomoo like Shopee many patterns to earn points. In contrast IBKR except spot exchange rates and 35 cents per trade nothing else interest me. Their many other features I dunno so never play.
All these like 5-10 points per task, will take years leh
 

sohguanh

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All these like 5-10 points per task, will take years leh
It is same when I go into USD stocks fractional each trade so small value like see nothing. Stretch it over a year and check again see got something or not. Old elderly poor generation using such strategy and I do not agree actually but then recent experience it has merits.
 
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