Moomoo cash plus

[yslvlys]

Looks like aiming to pull in fresh funds with short term 7 day lock in promo, 100 for 100k is 0.1%, seems like a pretty inexpensive cost to pull in 100k of funds, very good business, smart ppl running this thing.

Likely there will be another follow up promo to discourage the pulled in funds from leaving after 7 days, I wonder what kind of promo that will be.

0.1% 7 days is like 4%+ per annum. Not bad. But wonder how sustainable is this and how do they make money from this?

 

[sohguanh]

0.1% 7 days is like 4%+ per annum. Not bad. But wonder how sustainable is this and how do they make money from this?

I am just thinking moomoo Cash Plus underlying is Fullerton Cash Fund which invest in short term FD of different banks around the world? It might be possible the fund manager just manage to secure a good deal but need XXX millions minimum so in order to raise so much at short time is through promo? Since it is a bank FD the rates are guaranteed unless that bank closed shop? So once sealed up the deal the interest confirmed get then deduct the monies they give to us for the promo they should still earn some. Else why would a company initiate promo to lose monies? Doesn't make business sense.

 

[yslvlys]

I am just thinking moomoo Cash Plus underlying is Fullerton Cash Fund which invest in short term FD of different banks around the world? It might be possible the fund manager just manage to secure a good deal but need XXX millions minimum so in order to raise so much at short time is through promo? Since it is a bank FD the rates are guaranteed unless that bank closed shop? So once sealed up the deal the interest confirmed get then deduct the monies they give to us for the promo they should still earn some. Else why would a company initiate promo to lose monies? Doesn't make business sense.

Yeah hopefully. I actually do want Moomoo to make money from all these 6.8%, 4% promo, so it's sustainable and less risky for us. If this carries on, it hard for me to withdraw cos the rates are better than all banks!

 

[CoffeeDrinker8899]

0.1% 7 days is like 4%+ per annum. Not bad. But wonder how sustainable is this and how do they make money from this?

I guess they can get something called the trailer fee which is some xyz% of the fund manager's management fee. From this perspective, the bigger the pie becomes, the more xyz% pays them - in total sum anyway.

Just my wild guess, they probably have cleverer ways to make money than this.

 

[yslvlys]

I guess they can get something called the trailer fee which is some xyz% of the fund manager's management fee. From this perspective, the bigger the pie becomes, the more xyz% pays them - in total sum anyway.

Just my wild guess, they probably have cleverer ways to make money than this.

Fullerton SGD cash fund is only 0.1% p, a. Not a lot of room to share with Moomoo lol. The promos costs Moomoo 3%p.a.+

 

[wutawa]

0.1% 7 days is like 4%+ per annum. Not bad. But wonder how sustainable is this and how do they make money from this?

it is more like a marketing strategy. it spends a lot of money to let users gain exposure to the product. that's why it is short-term (7 days) and temporary (promotion). it will be worrisome if this promotion manages to keep extending like the 5.8/6.8%.

 

[sohguanh]

Basic is 20k 15 means 10k 7.5 30k will earn you 2.5 more so is 50k. Therefore put 30k can liao no need 50k unless for big jump 100k.

I finally experience Mari Invest weakness. If you put withdraw 20k before 0730 only evening then can get. But evening buy cash plus means should be next day NAV liao.

 

[CoffeeDrinker8899]

Basic is 20k 15 means 10k 7.5 30k will earn you 2.5 more so is 50k. Therefore put 30k can liao no need 50k unless for big jump 100k.

I finally experience Mari Invest weakness. If you put withdraw 20k before 0730 only evening then can get. But evening buy cash plus means should be next day NAV liao.

my guess is can withdraw 10k separately twice, the first 10k should be able to can get faster

 

[wutawa]

Basic is 20k 15 means 10k 7.5 30k will earn you 2.5 more so is 50k. Therefore put 30k can liao no need 50k unless for big jump 100k.

I finally experience Mari Invest weakness. If you put withdraw 20k before 0730 only evening then can get. But evening buy cash plus means should be next day NAV liao.

R u shifting all the money in mari to moomoo?

 

[sohguanh]

R u shifting all the money in mari to moomoo?

That is correct. Not all some.

 

[revhappy]

it is more like a marketing strategy. it spends a lot of money to let users gain exposure to the product. that's why it is short-term (7 days) and temporary (promotion). it will be worrisome if this promotion manages to keep extending like the 5.8/6.8%.

I think their aim is to entice newbies to come for the MMF and then click here click there, buy some stocks trade some options and before they know they already started gambling, lol.

One of the newbie promotions is to make some 5 trades before you can unlock the sign-up promotion of fractional stocks and then need to hold the 10k for 90 days. They hope people trade and stick on.

 

[wutawa]

I think their aim is to entice newbies to come for the MMF and then click here click there, buy some stocks trade some options and before they know they already started gambling, lol.

One of the newbie promotions is to make some 5 trades before you can unlock the sign-up promotion of fractional stocks and then need to hold the 10k for 90 days. They hope people trade and stick on.

Mine is hold 1k for 90 days to get a stupid nio share. Guess what? I doing it. Hehe

 

[ekardo]

funny I dunno why I got 1 share for grab..

is it a mistake by moomoo cos I didnt buy this share

 

[dantom04]

Can I deposit USD instead of SGD as fresh fund to deposit for this moomoo 6.8% huh?
The interest I received will be in USD?

 

[CoffeeDrinker8899]

Can I deposit USD instead of SGD as fresh fund to deposit for this moomoo 6.8% huh?
The interest I received will be in USD?

You buy USD funds naturally your yields from the funds will be in USD, but the promo rewards likely in SGD as they are all illustrated in SGD.

According to the notes, subscription amount should be calculated in SGD based on fixed exchange rate.

Part 3 of the promo notes:
[Exchange rate] The net subscription amount is calculated in SGD. Orders in USD will be converted at a fixed exchange rate of 1 USD = 1.4 SGD.

 

[dantom04]

You buy USD funds naturally your yields from the funds will be in USD, but the promo rewards likely in SGD as they are all illustrated in SGD.

According to the notes, subscription amount should be calculated in SGD based on fixed exchange rate.

Part 3 of the promo notes:
[Exchange rate] The net subscription amount is calculated in SGD. Orders in USD will be converted at a fixed exchange rate of 1 USD = 1.4 SGD.

Thanks bro... I double checked with moomoo

Their live agent told me I can deposit in USD but the reward will be in SGD at fixed exchange rate of 1.34

 

[CoffeeDrinker8899]

Thanks bro... I double checked with moomoo

Their live agent told me I can deposit in USD but the reward will be in SGD at fixed exchange rate of 1.34

I am sorry I made a mistake I thought you were asking about the latest 7 day promo, the notes is for the 7 day promo, not the 6.8% promo.

 

[wenguang]

funny I dunno why I got 1 share for grab..

is it a mistake by moomoo cos I didnt buy this share

there was a promo in june last year where they give 1 grab share

 

[ekardo]

there was a promo in june last year where they give 1 grab share

funny thing is i didnt see this until I emptied all my money. I go see my history

 

[DOINK1]

My moomoo cash plus promo is due today. Am I able to cash out while waiting for their cash coupon or I need to leave the money in till I receive the coupon?