Moomoo Promotion
Up to 10 free stocks valued up to $7,000!
Open Moomoo Account
Moomoo Promotions Details
Moomoo’s current promotion has two different components, which we’re going to outline below.
Open a Moomoo Account Incentive
To start,
click on their promotion link in order to get free stocks. Use your desktop or mobile device to register for an account. You’ll need to download the mobile app if you want to use your phone.
Once you’ve registered with moomoo, you’ll need to start a Futu brokerage account within the moomoo app (remember that moomoo is a subsidiary of Futu). The application process is very quick and is usually approved within 1-3 days.
There you have it. Just by opening an account, you’ll be automatically eligible for an opening bonus. The bonus includes one free stock, which will be valued between $3 and $350.
Well, wait, that’s quite a range. What are your odds of getting a more valuable one? Moomoo won’t exactly tell you what stocks or shares but they do confide the percentages, that is, your odds. For the opening bonus, you have a roughly 98% chance of getting a $3-8 share of stock, and 2% chance of getting an $8-350 share of stock.
Maintain an Account Value of $2,000 for 30 Days
Moomoo is looking to not only draw in new clients but active clients, which makes sense as this is partly how broker-dealers make money (yes, even discount brokers).
So, for depositing at least $2,000 and maintaining an average asset amount of at least $2,000 for 30 days, you’ll receive one free share. The current promotion lists the bonus as one share of NIO, which currently has share price of around $22.
Moomoo Pros and Cons
But is moomoo a good broker-dealer? Overall, the answer is yes. Apart from their constant promotions, moomoo offers numerous advantages to investors, including the following:
- Free stocks, ETFs, and options
- Quick and easy account opening (1-3 days)
- High-quality analytical tools
- No inactivity fees
- No minimum deposits
On the downside, moomoo has some limitations, such as
- Limited product offerings (no forex, funds, bonds, futures, or crypto)
- Poor customer support (no live chat or phone support)
- Limited options for deposits/withdrawals (only bank transfer)
Wrapping up
Competition is so strong among broker-dealers that many are giving away perks such as free stocks or other incentives. If you’re looking to set up a new account, it makes sense to consider taking advantage of these bonuses.
That said, it’s highly likely that you only receive a $3-8 share by setting up an account with moomoo (~98% chance). The odds of receiving something more valuable are quite slim (2%). Plus, to receive the free GM stock, you’ll have to deposit and maintain at least $2,000 in your account for a month.
GM is quite frankly not the sexiest stock around, so you may not be very compelled to get set up with moomoo just for a free share of GM.
In any case, moomoo is a solid broker for those looking for zero-commission trading of stocks, ETFs, and options. Its other main perk is its impressive analytical tools. On the other hand, moomoo won’t likely appeal to investors looking to trade beyond stocks, ETFs, and options.
Overview of Moomoo
Moomoo is a trading platform that will appeal to investors looking for zero-commission trading and whose primary focus is on U.S. markets.
Moomoo was founded in 2018 and is a subsidiary of Futu Holdings Ltd., which is backed by Tencent. Securities offered by moomoo are regulated by the two major U.S. regulatory agencies: the SEC (Securities and Exchange Commission) and the FINRA (Financial Industry Regulatory Authority).
In such a competitive market, many online stock trading broker-dealers (such as Robinhood) now offer sign-up incentives to help draw new customers. Moomoo is no stranger to this method, having offered many promotions over the years.
This article is going to discuss their current promotion, which involves free stocks.
Moomoo Promotion For Free Stocks
Up to 10 free stocks valued up to $7,000!
Open Moomoo Account
Continue Reading