This was posted 1 year 4 months 22 days ago, and might be an out-dated deal.

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Sign up, Deposit $2,000 & Get 10 Free Shares (From A$7ea to A$419ea) @ moomoo

3100
Sign up, Deposit $2,000 & Get 10 Free Shares (From A$7ea to A$419ea) @ moomoo
Go to Deal
Cashback
Pgrace2050 on 05/07/2023 - 15:02 fego-au.moomoo.com (4242 clicks)
Last edited 14/07/2023 - 10:42 by 3 other users

Sign up, deposit a minimum $2,000 & get 10 free shares.

  1. Sign up
  2. Deposit $2,000 to score 10 free shares. (Deposit less than $2,000 you will get 3 free shares only.)
  3. Brokerage-free trading on US and ASX shares for the first 180 days.

Steps:
sign up and get approved using a website, then download an app and use it to deposit some $$.

Update:
For each stock buy and sell, Moomoo will charge a trade fee, minimize is $5.5, but for new users, they will refund all the trade fees before the 15th of next month. Also, within 180 days of new registration, trade will be free. Good deal for the investment.

Moomoo is licensed in Australia, and the client funds are held with HSBC Bank. I noticed that their parent company is Nasdaq listed. In Hongkong, it is one of the biggest brokers.

Thank you and enjoy!

Referral Links

Referral: random (239)

Referrer gets $10 Cash Coupon for each referee who signs up & downloads moomoo app for the first time, $10 Cash Coupon for each referee who opens their Moomoo AU trading account for the first time, and $30 Cash Coupon for each referee who makes an initial deposit of $100+ in their Moomoo AU trading account. (Referrer can get $50 Cash Coupon in total.) Maximum 10 referrals per referrer.

Referrer also gets additional 1 free Apple stock for referring 5 referees who sign up & download moomoo app, and deposit $100 for the first time.

Financial Brokerage Share Trading Shares (financial)

Related Stores

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closed Comments

    • hoangdekiem on 05/07/2023 - 18:12
      +1

      How long does it take for the 2k to show in your account after depositing?
      I deposited an hour ago using payid but nothing yet

      • aka nioh on 05/07/2023 - 18:16
        +1

        Took a few mins. Try contacting support

      • truetypezk on 05/07/2023 - 20:13
        +1

        My PayID deposit is also taking loner than it should. How long did it take your to arrive in the end?

        Edit: the bank blocked the transfer for scam prevention purpose.

  • hoangdekiem on 05/07/2023 - 18:07
    +4

    When you sell the 10 free shares, does it count as a trade to get the extra 2 free shares

    • moneypenny23 on 05/07/2023 - 18:49

      No you have to make a buy trade.

  • aka nioh on 05/07/2023 - 18:10
    +3

    To the tax accountants out there. Is the 10 free shares a taxable event?

    • grace2050 on 05/07/2023 - 18:11
      +1

      The statement will show " a gift". Don't worry.

      • aka nioh on 05/07/2023 - 18:16

        👌and I assume when I sell it, the money is also considered a gift?

        • Charlieeee on 05/07/2023 - 18:20
          +1

          Need to consider any applicable capital gains/losses. However, provided you sell the shares the instant you receive them there should be minimal/no capital gain in that case.

          • aka nioh on 05/07/2023 - 19:57

            @Charlieeee: Thanks

          • Sgav89 on 05/07/2023 - 21:20
            +5

            @Charlieeee: Im not so sure.

            Wouldnt cost base be 0$ and therefore full tax is owed on sale price?

            • park it on 05/07/2023 - 21:45
              +1

              @Sgav89: This is what I was thinking as well.

            • DrScavenger on 06/07/2023 - 18:19

              @Sgav89: You got the stock when it was 25$. You sold it when stock reached 26$. You declare 26-25=1$ in income and cgt applies.

    • Lit Homie on 06/07/2023 - 12:09
      +18

      Hi tax accountant here, the 10 free shares is a taxable event but because it's a gift the cost base is the value it was upon recieving them.

      Take for example you recieved 10 shares total $200 AUD. You sell them immediately for $200 and some transaction fee maybe of $1 (idk if there is a fee have not done this yet).

      Cost base is now 201 - sell it for 200 = Capital loss of $1.

      If capital loss apply to other capital gains of the year.

      • aka nioh on 06/07/2023 - 13:11
        +1

        Thanks so gotta write it down on my tax return even if it's a dollar loss or gain, but obv ATO is not gonna chase me if it's a loss

      • Charlie Dont Surf on 06/07/2023 - 13:18
        +1

        And if you have no other capital gains for the year, you can carry the loss forward to future years.

      • Bdawg on 06/07/2023 - 16:41
        +2

        A tax accountant on ozbargain, outrageous!

  • thekensai on 05/07/2023 - 18:14

    as existing user can i close account and sign up again and get the bonus?

    • Empharand on 05/07/2023 - 20:18
      +3

      Very very doubtful, I'm pretty sure they aren't going to allow people to do multiple signups by closing existing accounts and reopening new accounts, that would be a massive loophole. New signups are subject to KYC approvals, so unless you by chance have legally changed your full name, moved house and have a new Licence number that represents all that then I doubt it will work…

      Give it a try and report back.

    • Store RepMoomoo Australia @ moomoo on 13/07/2023 - 18:03
      +1

      Hi there! Team moomoo AU here. We're so excited to have you be a part of the moo community! In accordance with our internal policies and procedures, users are unable to close and open a new account within a six-month period. We encourage you to reach out to us again after the six-month period has lapsed. Please note that there are no new customer rewards after a user has re-opened an account. Thank you for your patience and understanding. Make sure you keep tabs on our ongoing promos - we're always updating with exciting rewards. If you have any more questions, please get in contact with us at [email protected] or +61 1300 086 668, and one of our team members will get in touch. Thanks! Team moomoo AU.

      • atlinus on 16/08/2023 - 07:43

        @Moomoo Australia

        Hi moomoo
        Your support is giving me a hard time over tge phone and on chat to fix the referral link i got on this group.

        I was told that i open an account without referral.
        I use a link on this grp.

        I ask for assistance to link it to the referral so i can avail the referral and referee promotion.

        I gave the screenshot for the referrer id, the link referral that i got on this grp.

        But your support was asking for a an entire screenshot of my laptop which i refuse as it a violation of confidentiallity and i dont think it is appropriate to ask for a screenshot of a private conversation.

        Where in fact we can use a random referral link in this group to avail of the promotion and you dont even have to know the details of the personal who provide the referral link.

        Can you assist?

  • kwak on 05/07/2023 - 18:17
    +3

    Good deal, i made 600aud after referring 2 people.

    • Bdawg on 06/07/2023 - 16:41
      -2

      I can never convince anyone to sign up to anything, irregardless of how easy and profitable it is.

      • wavesgreen on 06/07/2023 - 18:42
        +4

        Do you use nonsense words like 'irregardless' when trying to convince them?

        • Bdawg on 07/07/2023 - 16:02
          -5

          It's a word, deal with it.

  • mrvaluepack on 05/07/2023 - 18:23

    I may have jumped the gun and deposited before my account was confirmed/approved. Hope everything will be ok…

    • Store RepMoomoo Australia @ moomoo on 28/07/2023 - 16:54
      +1

      "Hi! Team moomoo AU here. Moomoo has a pre-deposit function, which means that any funds that have been deposited will appear once the customer's account opening is completed. Any funds deposited to accounts that do not open or are unsuccessful will be refunded.

      Need help to open your account or have any more questions? We are here to help. Please get in contact with us at [email protected] or +61 1300 086 668, and one of our team members will get in touch. Thanks! Team moomoo AU."

    • Empharand on 05/07/2023 - 18:32

      Penalty box incoming…

  • Robin2012 on 05/07/2023 - 18:26

    great

  • JacobTheLiar on 05/07/2023 - 18:36
    +1

    What time frames are we getting for deposit to enter? I made a depost before the account was formally verified… anyone waiting more than an hour?

    • mrvaluepack on 05/07/2023 - 18:44

      i did too :( still waiting.

    • DeepMidWicket on 05/07/2023 - 18:44

      You are not alone

    • ausmisc on 05/07/2023 - 18:44

      Mine has been at least an hour and nothing yet. PayID.

      • moneypenny23 on 05/07/2023 - 18:52

        It might depend on your bank. From the people I referred, one went through pretty much instantly, the other two took around 24hrs. All PayID. I think possibly because it’s a new payee, with some banks it delays the transfer.

        • ausmisc on 05/07/2023 - 19:01
          +2

          Yeah I thought this too maybe. Mine is St George and I received some automated scam alerts so maybe they have a first time transfer delay for this reason. To give people a chance to cancel/dispute a transaction.

          • JacobTheLiar on 06/07/2023 - 11:24

            @ausmisc: update

            I contacted their support. They needed screenshots of bank transaction as well as account itself (I used a proof of account). I got the notification through the app itself. There was a hard language barrier with the support staff but they are helpful so be kind and patient.

            Once I submitted the materials the deposit came through within 10 minutes. Got my free stocks. 3 X GME and the others just basic Aussie. Non the less, $100usd!

    • hoangdekiem on 05/07/2023 - 21:10

      My bank is ANZ and deposit has not arrived yet. A few hours already

    • cook99 on 05/07/2023 - 21:39
      +6

      No offense but it's hard to believe your story Jacob

      • JacobTheLiar on 06/07/2023 - 05:56
        +2

        You know this is the only forum where I often get this regardless of the topic! 😂

  • Pikaloo on 05/07/2023 - 18:38

    Did anyone else's bank account for withdraw automatically populate when paying by PayID?

    • grace2050 on 05/07/2023 - 18:41

      CBA

      • Pikaloo on 05/07/2023 - 18:41

        it's normal? I don't need to enter my bank details for withdraw as it's automatically there?

        • grace2050 on 05/07/2023 - 18:44

          The bank you deposited money from will be listed as withdraw bank. (I think)

          • Pikaloo on 05/07/2023 - 18:52

            @grace2050: that's neat. didn't know that was possible. thanks,

  • peteranh3105 on 05/07/2023 - 18:47

    I made the deposit while my account is still being finalised. Will the deposit get to my account once it is opened?

    • grace2050 on 05/07/2023 - 18:49
      +1

      It will, don't worry

  • Omarko on 05/07/2023 - 18:53
    +1

    Its asking for lot of personal details eg drivers licence etc… is this safe? Hmmm

    • Empharand on 05/07/2023 - 18:57

      That's pretty much the same as every KYC process, you have the choice to trust their KYC process and their ability to safely store your data or decline to proceed and you get nothing - Your choice

    • Charlie Dont Surf on 05/07/2023 - 18:57
      +1

      You're going to get that whichever online broker you sign up with.

      I've been with Moomoo for about a year (when they had the free Apple share offer) and haven't had any concerns. Money in, money out. And my AAPL share is still sitting there alone but growing!

      • Omarko on 05/07/2023 - 19:06

        Ok thanks, signed up. How do i know i got the bonus coming once i make the deposit?

        • Charlie Dont Surf on 05/07/2023 - 19:33

          It will appear in the app in your profile (Rewards section), people posting above are saying the stocks have landed quickly after the deposit clears.

    • Store RepMoomoo Australia @ moomoo on 28/07/2023 - 16:54

      "Hi there. Team moomoo AU here. Moomoo is a regulated brokerage platform. In Australia, securities services available on the moomoo app are offered by Futu Securities (Australia) Ltd, ABN 51 095 920 648, an Australian Financial Services Licensee (AFSL No. 224663). Our platform is committed to providing reliable financial services to our customers. These personal details are part of our onboarding process and are in line with regulations. You can find our Privacy Policy, here: Privacy Policy.

      If you have any more questions, please get in contact with us at [email protected] or +61 1300 086 668, and one of our team members will get in touch. Thanks! Team moomoo AU."

  • wavesgreen on 05/07/2023 - 19:04
    +3

    It should be noted that this deal is the same as the last moomoo deal and your shares are a roll of the dice: total value between $50 and $2150.

    $200 quoted in title is a bit deceiving, you could get less than that.

    • ggfatty on 05/07/2023 - 19:50
      +1

      You are right. It is only average $200 and could be a lot less

    • witsa on 05/07/2023 - 21:58
      -2

      So you don't get to pick the shares that you get?

      • odysseus on 06/07/2023 - 00:02
        +5

        You must be new to competitions.

  • cheekymonkey97 on 05/07/2023 - 19:05
    +6

    Since the prices are from almost 5 months ago, I thought I'd create a new table that's more helpful to decide if the value proposition is there for you:

    Share Price at 05/07/23
    TSLA US$ 279.82
    AAPL US$ 192.46
    AMZN US$ 130.22
    KO US$ 60.58
    GME US$ 24.91
    AMC US$ 4.44
    • cheekymonkey97 on 05/07/2023 - 19:56

      That’s the same as everyone else. 10 + 2 for making a trade = 12

      • ggfatty on 05/07/2023 - 19:57

        you are correct

  • Killermike on 05/07/2023 - 20:03

    Instant verified using st george.

  • vickiolesen on 05/07/2023 - 20:06

    Any major difference in fees between this and Stake in buying US shares? Which is more secure/regulated? Please advise if you have any info.. thanks

    • grace2050 on 05/07/2023 - 20:11

      Moomoo will waive and refund stock trade fee for 180 days. It's good for half a year.

    • Charlie Dont Surf on 05/07/2023 - 21:27
      +2

      If you're going to be a regular investor in overseas markets, I really suggest that you use Interactive Brokers. The interface isn't as friendly (I find Tiger Brokers to have the best UI out of the new entrants) but IBKR's fees are the best for an investor in Australia.

      • SlickMick on 06/07/2023 - 13:40

        I'm curious why you say that when CMC is $0 buy and pretty reasonable sell?

        I just check Interactive Brokers Australia and they charge US $0.0035 per share up to 1% of trade value for US stocks and minimum $5 (0.08%) for Australian shares.

        I've tried a dozen times and the CMC application process is just too hard for a trust account. (It's super easy for an individual though.)
        So I'm still looking for the most economical broker.

        • Charlie Dont Surf on 06/07/2023 - 14:51
          +1

          CMC are okay, I have used them for ASX trading in the past, and their product offering commission-free buys on the ASX for <$1K is very good for dollar-cost averaging on the Aussie market.

          Just be aware that CMC's FX margin for international shares is 0.6% for BOTH buy and sell sides. So that's 1.2% all-up. That's $30 on a $A5K buy, and another $30 when you sell. Accounts with CMC are in Aussie dollars (no USD account), so if you want to switch a $5K investment position from say Apple to Meta, that's 1.2% ($60) you pay right there (sell to AUD & buy to USD). IBKR's foreign exchange rates are extremely close to wholesale foreign exchanges rates. Or you can just convert a stack of AUD into USD for $2 to take advantage of a favourable exchange rate and lock-in that rate and enjoy the gain - the account will be in USD.

          I've paid $US0.35 on every trade I've done on IBKR. Admittedly, my trades are for stocks with a high market price (eg. Meta, Apple, Microsoft, Tesla, Chipotle Mexican Grill, NVidia etc) so I'm only buying a handful of these per trade. Never paid a commission higher than $0.35. If I'm buying a pile of share in a low-priced stock (eg. 500 shares of PLTR @ $15) then I'm looking at a commission of $US1.75. But I don't do that, so it hasn't crossed my desk.

          You can also buy fractional shares on IBKR, this is not available on CMC as far as I'm aware. Minimum of $1K trade on CMC too, again as far as I'm aware. Finally, be aware that CMC charge an algorithmic trading fee of 0.033%, which is about $US1.65 on a $5K parcel. Can't comment on the situation with trading via a trust…not my situation.

          PS: I've only ever spoken about the merits of IBKR in the context of international trading, not for the ASX.

          • SlickMick on 06/07/2023 - 21:55

            @Charlie Dont Surf: Thanks for the detailed reply, it's appreciated.

            It seems the IBKR are best for US… I might change my focus to there for now. It's probably a good diversification for me.
            I wonder what the IBKR application process will be like for a trust.

            Are you saying that CMC charge a 0.033% fee on every trade? They didn't mention that! (That's not free!)
            Maybe I'm glad thier application process was so terrible.

            • Charlie Dont Surf on 06/07/2023 - 22:03

              @SlickMick: The algorithm fee, or whatever they call it, is just something I spotted on their fee schedule. I wasn't aware of it. It's a small fee, probably their way to cover regulatory, exchange costs etc. The killer is the FX margin at 0.6%, compared with close to zero at IBKR.

              Sorry, can't help about the trust application. It might not be possible.

              But if you do join IBKR, don't forget to use a referral code/invite and pick up a little bonus from IBKR when you fund your account.

  • Psomaggi on 05/07/2023 - 20:12

    So I started on the Moomoo site, but I now seem to be awaiting "Futu" to approve my account. Is this normal?!?

    • Empharand on 05/07/2023 - 20:14
      +1

      Moomoo is a regulated brokerage platform. In Australia, securities services available on the moomoo app are offered by Futu Securities (Australia) Ltd, ABN 51 095 920 648

      • Psomaggi on 05/07/2023 - 20:15

        Yeah, I can see they are affiliated… just want to be sure I didn't click something wrong and have now invalidated the offer (given no one else has mentioned Futu). Cheers.

        • movieman on 11/07/2023 - 18:08

          I'm in the same position - looks like FUTU is the Australian counterpart?

          How did it go?

          Hopefully the Futu component is still legit…

          • Psomaggi on 11/07/2023 - 18:22
            +1

            @movieman: Yeah, all legit. Everything seems to be done through the MooMoo app, so Futu is just the Australian based entity that legitimises it here and is only seen in email correspondence and if you login to the website (it isn't well explained though… an area for improvement I feel).

  • anh35 on 05/07/2023 - 20:15
    +1

    Got $146.75 USD stock rewards after $2000 deposit.

    • OrangeBJ on 05/07/2023 - 20:38

      How long does it take for account verification?

      • Sgav89 on 05/07/2023 - 20:50

        took me 5 minutes.

  • Sgav89 on 05/07/2023 - 20:15

    Does anyone know if the 'trade' to get 2 shares has to be on a certain market? E.g. the US market? or can you do an ASX trade?

    I assume the smart play is to purchase an additional share that you already own? E.g. GME or AMC, then sell it + the free shares in one single trade?

    • grace2050 on 05/07/2023 - 20:27
      +2

      Any market should be okay. Yes, it will save the trade fee for the moment. But anyway, they will refund all the trade fee before 15th of next month. So, eventually it will be the same. But buying the same stock you already have, will save the trade fee for some time. Hope it helps.

      • Homr on 05/07/2023 - 21:43

        Does buying and selling count as 2 trades?

    • Sgav89 on 05/07/2023 - 23:17

      I purchased 1 AMC and it charged 1 USD in fees and triggered the 2 extra free shares. Havent sold it yet.

  • Homr on 05/07/2023 - 21:00

    Just signed up, how long does it take for the account to be approved?

    Oh no, i forgot to click reverall

  • Homr on 05/07/2023 - 21:18

    I deposited $2000 and can see it in my account, but I can't see my 10 free shares? Does anyone know how long it takes?>

    • cook99 on 05/07/2023 - 21:42

      Look in 'My Rewards'

  • blurn on 05/07/2023 - 21:25
    +1

    Dumb question as I’m new to trading but how does moo moo benefit by giving away stocks like this? If most are withdrawing as soon as they receive the shares wouldn’t they be taking a huge loss?

    • capslock janitor on 06/07/2023 - 12:39

      tell me too

    • lilkid28 on 06/07/2023 - 12:45

      Marketing budget

    • blurn on 06/07/2023 - 19:11
      +1

      I’ve heard e-trading apps like robinhood generate revenue by trade volume so getting retail investors addicted by gamification would make sense. Perhaps they also use the influx of new users and capital to boost their numbers to make it seem like they’re performing better when they have to report to stakeholders.

      https://www.fool.com.au/2020/09/29/addictive-share-trading-a…

    • Cupid Stunt on 25/07/2023 - 00:13

      High likelihood they have shorted these stocks…

  • cook99 on 05/07/2023 - 21:41

    5 mins for account verification and 5 mins for deposit to hit from ANZ. Another 5 minutes to claim my 10 shares. Will make a trade soon and we're done

    • Homr on 05/07/2023 - 21:43
      +1

      my 10 share still says "processing". How long do I have to wait until I can sell and withdraw the cash?

      • cook99 on 05/07/2023 - 21:44

        Sorry my free shares a 'arriving' too, I think it was up to 7 business days to get the shares in order to sell and cashout

        • grace2050 on 05/07/2023 - 22:30

          It may take 1-3 days. Let's see.

          • cook99 on 06/07/2023 - 01:32

            @grace2050: Received and sold 10 of my 12 within same day as signing up, just waiting on final 2 to clear now (which I got after doing first trade tonight). Winner

  • lilkid28 on 05/07/2023 - 21:55

    Good deal. I got about $300+ before, wife used my link and also got $300+, then I got another 100 from her using my referral.

    • grace2050 on 05/07/2023 - 21:58

      Good luck

      • lilkid28 on 05/07/2023 - 22:04
        +1

        Is it max 3 sign up referrals or reset to 3 again now?

        • grace2050 on 05/07/2023 - 22:05
          +1

          Each referrer will receive maximum 3 times referral bonus. But the invitation code will work for 10 times I believe.

          • LLK on 06/07/2023 - 06:45

            @grace2050: meaning -> max 3 sign up referrals,

            NOT reset to 3 again now?

  • peteranh3105 on 05/07/2023 - 21:55

    Signed up but account verification still not done :(. How long can this verification take?

    • grace2050 on 05/07/2023 - 21:57

      Tomorrow working hours, I believe.

      • peteranh3105 on 05/07/2023 - 21:58

        Sigh, hope so. Maybe verifying with Medicare card takes longer.

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