This was posted 1 year 2 months 1 day ago, and might be an out-dated deal.

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Sign up with Referral, Deposit $5000 & Receive 16 Free Shares @ Moomoo

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Sign up with Referral, Deposit $5000 & Receive 16 Free Shares @ Moomoo
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Cashback
[Deactivated] on 23/09/2023 - 16:35 moomoo.com (936 clicks)
Last edited 01/10/2023 - 21:22 by 2 other users

As the promotion details have changed, here is a new opportunity to get a bonus from signing up
And depositing with Moomoo.

Promotion available available only to new clients of Moomoo AU who haven't made a deposit

  • Sign up using a referral link to receive 1 free stock
  • Deposit any amount to unlock "Premium Privileges"
  • Deposit AUD$100 to receive 3 stocks (previously $500 deposit required)
  • Deposit AUD$2,000 to receive 5 more stocks
  • Deposit AUD$5,000 to receive 7 more stocks

-> total of 16 free shares possible
TLDR: Deposit and get shares. Higher deposit, more shares.

Prize pool includes (probability):

  • Tesla (0.001%)
  • Apple (0.005%)
  • GameStop (9.994%)
  • Lucid (30%)
  • Under Armour (30%)
  • Sabre (30%)

Additional info:

  • Gift shares will remain 'frozen' until you have maintained your Daily Average Asset Value for 30 days (e.g. $5000 for the maximum spins, lower for less spins)
  • a drop of value of up to 20% below the threshold is permissible
  • Moomoo charges trading fees but these are reimbursed within the first 180 days.
  • the full T&C can be seen by clicking on the deal link

Referral Links

Referral: random (243)

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

  • hotdogwater22 on 23/09/2023 - 16:45
    +10

    Tesla (0.001%)
    Apple (0.005%)

    What is the point

    • TripleJJJ on 23/09/2023 - 16:52
      +22

      To lure some gambler instead of invester

    • [Deactivated] on 23/09/2023 - 16:56
      +7

      There is an expected value of AUD 187.77 if you get 16 spins.

      That is a fair amount for free money. Of course there is risk involved with depositing 5k there for a month, but for those willing to take this risk (many people in the last deals), they made sweet profit.

      • radicalvin on 23/09/2023 - 18:34

        What are the risks of depositing 5k there for 30 days? Losing the 5k if they shut down within the timeframe?

        • freoleo on 23/09/2023 - 18:48
          +4

          Yeah its minimal risk

          Just annoying to have funds tied up

        • Associatedhannahwhoo @ moomoo on 17/10/2023 - 18:58

          Moomoo AU is an Australian Financial Services Licensee (Licence No: 224663) licensed by Australia Securities and Investments Commission (ASIC). Furthermore, Moomoo AU's parent company, Futu Holdings Ltd., is a NASDAQ listed company.

      • Hunter2733 on 23/09/2023 - 19:24
        +3

        value of money now and in 30 days is different. it is not "Free" becasue certainly you could buy 5000 dollars worth of bond or shares or whatever financial derivatives to make money in this 30 days. Tbh, they had this promotion because they could actually gather a substantial amount of fund for them(Moomoo). it is not a loss for that broker.

        • Its4me on 23/09/2023 - 21:28
          +2

          With current interest rates you could get around $21 interest on your $5000 in 30 days from a bank.

          • cook99 on 23/09/2023 - 22:07

            @Its4me: You'll pay tax on the interest, unlike the free shares

        • Skinnerr on 24/09/2023 - 17:14

          Yeah, it's like a month long term deposit.

    • Slo20 on 23/09/2023 - 17:49
      +2

      what’s the point.

      I got over $300 of shares for very little effort. Seems like a good reason to me.

    • Brianqpr on 23/09/2023 - 19:44
      +3

      Lotto tickets still sell strongly with much worse odds.

  • cd-v on 23/09/2023 - 17:17
    +3

    1 GME share will be worth millions soon

  • ThePointsGuru on 23/09/2023 - 18:19
    +3

    Are they CHESS sponsored?

    • [Deactivated] on 23/09/2023 - 21:44

      No.

    • Store RepMoomoo Australia @ moomoo on 16/10/2023 - 19:38
      +1

      Thanks for your question. Our customer holdings are 'CHESS sponsored', however not 'individually CHESS sponsored'. Instead of issuing individual Holder Identification Numbers (HINs) to each customer, all of Moomoo' s customer holdings are held under a single, institutional HIN under a custodial arrangement. Moomoo is authorised by ASIC to provide custodial services to retail and wholesale customers under its Australian Financial Services Licensee.

      By the way, Moomoo's client funds are held with HSBC Bank Australia and are fully segregated from moomoo's own funds. This means that if anything were to happen to moomoo or our parent cpmpany, users can rest assured their funds are safe. Hope this helps! Thanks - Team moomoo AU.

  • monky on 23/09/2023 - 18:19
    -7

    I'd rather put my money in the pokies…

  • Borg on 23/09/2023 - 18:23
    -2

    So if one deposits $5000 and the factoring in the a drop of the Average Assets value of up to 20% below the AUD$5,000 threshold is permissible, then if unfortunate enough one could be out of pocket by $1000 less what you gain in free spins. Correct?

    • [Deactivated] on 23/09/2023 - 18:27
      +2

      No. If you don’t invest the $5000 you’ll have 0 drop.

      This is for the scenario that you invest the deposit and the value of those stocks drop. But that is not required to get the free shares.

    • callum9999 on 23/09/2023 - 18:32

      You could theoretically be out of pocket by $5000 is you're unfortunate enough. You're buying shares, they can do anything from rocket in value to lose 100% of value. The 20% only refers to the amount of loss you can make before they disqualify you from the bonus - not the maximum you can lose.

      This isn't aimed at you - just people in general. If you don't understand how the stock market works you really shouldn't be putting $5k of your money in this! I guess unless you're happy to just store the money there and not invest it.

      • radicalvin on 23/09/2023 - 18:36

        Yeah so to minimise the risk is to park 5k for 30 days and get the free shares, correct?

      • djkelly69 on 23/09/2023 - 18:44
        +9

        You don't need to buy shares, you can just have it sitting in your account as cash and then withdraw after 30 days or whatever.

      • cook99 on 23/09/2023 - 22:09

        Storing the money and not investing it is precisely what everyone should do, along with collecting their free shares

  • bigbadaboom on 23/09/2023 - 18:33

    Proceed with caution if this is anything similar to the WeBull gimmicks. Read Ts&Cs carefully to ensure you know what you are getting through these 'rewards'.

  • 10JQKA on 23/09/2023 - 18:49

    If you sell the share, do you pay capital gain tax?

    • Quickshot on 23/09/2023 - 18:51
      -1

      Yes

      • gamesnepal on 23/09/2023 - 20:58
        -1

        It's a good thing I declared it last FY.

    • Silicondreamer on 23/09/2023 - 20:04
      +3

      Its a gift?

      • Quickshot on 23/09/2023 - 21:27
        +1

        So you need to declare capital gains tax when you sell other wise I just "gift" all my stocks to a mate who will sell it for me and we both pay no tax.

        • huuuuugo on 24/09/2023 - 14:39

          The moment you give away stocks to a mate, for the ATO that's the equivalent of:
          1. you selling your shares at market price
          2. you giving your mate the money
          3. your mate buying shares at market price

          In this case, MooMoo giving you the shares, takes care of step 1 and 2. You, as the recipient, are considered to have acquired the shares for the fair market price. This is also what I'd put in the tax returns field for the cost basis.

          Disclaimer: I am not a tax professional and this is not tax or financial advice. Do your own research, yadda yadda

    • cook99 on 23/09/2023 - 22:10
      +2

      No, has been discussed in previous threads.

      • rheags on 24/09/2023 - 08:22
        +2

        That date you receive the shares you need to record the price on that day, that becomes your cost base for the free/gifted shares. When you sell the shares you then may have capital gains/loss depending on movement from this cost base which must be declared in your tax return.

        https://community.ato.gov.au/s/question/a0J9s000000TYdK/p002…

        • cook99 on 24/09/2023 - 16:17

          Agreed, but selling as soon as you get them avoids the hassle of CGT

          • rheags on 25/09/2023 - 11:18

            @cook99: But in this instance the issued shares are frozen for 30 days so you need to record this since you can't sell them on the day of issue.

            But, yes, the preferred option is selling them on the day they are issued, if possible, so you don't have any CGT event, unfortunately not possible for these ones.

  • CyberMurning on 23/09/2023 - 19:08

    And whats in for the referees?

    • [Deactivated] on 23/09/2023 - 21:45

      Three free shares.

      • CyberMurning on 23/09/2023 - 22:44

        Only if the referee make a trading, right?

  • CyberMurning on 23/09/2023 - 19:12

    the promotion details have changed, here is..

    Was the previous promo better, or worse?

    • [Deactivated] on 23/09/2023 - 21:45

      It depends. They dropped the $50 stock voucher but you get 3 free shares with a $100 deposit instead of $500.

  • Young gardener on 23/09/2023 - 20:13
    -1

    I have a question in the previous deal. I cannot find my AMC stocks and my total assets dropped significantly. Anyone care to share the information?

    • [Deactivated] on 23/09/2023 - 21:46

      They had a reverse stock split. Several comments on that in the last deals.

    • djkelly69 on 26/09/2023 - 16:19

      Basically if you had 10 AMC worth ~$5 each before, you now have 1 AMC worth ~$7 each.

  • coolc on 23/09/2023 - 20:18
    +1

    They dont honour referrals asking proof of invitations and screen shot of referees accounts.

  • EyyBanane on 23/09/2023 - 20:31
    -5

    They did honour the second promotion of $5000 last time. Customer care is unable to help.

  • zuruhara on 23/09/2023 - 21:48

    Most likely you will get under armour and lucid group 😂

    • [Deactivated] on 23/09/2023 - 21:51

      Yeah. Pretty clear from the probabilities. That’s why you calculate the expected value (which is also in the T&C)

  • konichiwa on 24/09/2023 - 00:15
    +8

    Just thought I'd offer my recent experience. 40ish days ago I deposited $5000 and got $140 worth of stocks. At the 30 day mark I sold them all, had to wait 2 business days for the sale to come through. Then you have to exchange it from USD to AUD. Then I went to withdraw and was offered a free PLS stock if I stayed ($4). Got the stock the next day, sold it straight away, another 2 business days to settle. Withdrew all funds. Takes another business day for that to process.

    • CyberMurning on 24/09/2023 - 08:27

      No brokerage when selling all of those?

    • Jetyy on 24/09/2023 - 11:30
      +1

      My experience was essentially the same, between the sign up stocks, someone using my referal code, cash coupons and stuff i think i made approx $200 funds locked for one month but no real problems withdrawing my 5k and the $200 they gave me. Hoping someome uses my code again for another $50 or so. If your okay having 5k locked up in an app like this its probably worth it for free money for half an hours work signing up

  • todayisK on 24/09/2023 - 00:51
    -6

    Not recommend this app, if you transfer out your share from them you have to pay $55 per share per transaction. If you you sell your shares, if wait forever and then you can cash out.

    • Slo20 on 24/09/2023 - 06:12

      What do you mean you have to wait forever to cash out your sold shares. It’s T+2 settlement. I’d hardly call 2 days forever.

      Also the transfer fee is per transfer request. If you request to transfer 30 companies on 1 request you only pay one fee.

      • todayisK on 24/09/2023 - 13:43
        +1

        check the screenshot: https://imgur.com/a/mC89aAq
        I recently tried to transfer my shares out from moomoo, and they sent me an email sad $55 per stock per transfer.

        • Slo20 on 24/09/2023 - 14:00

          Hmm strange because both their help section and fee schedule for no US residents say differently

          “ Moomoo Financial Inc. charges a $75 transfer fee each time you request to transfer stocks out.

          For example, if you transfer two US stocks, such as BABA and AAPL, from Moomoo Financial Inc. to an outside brokerage firm at the same time, the total transfer fee will be $75.”

  • Bladeyyy21 on 24/09/2023 - 00:58
    +2

    How does one close account with these guys? If you try on the app, it tells you that you need to first close your futu account and provides you their email to do so. Sent them an email, but they don't respond…

    • Sinnerator on 24/09/2023 - 08:26

      are they using the GYM MEMBERSHIP system

    • CyberMurning on 24/09/2023 - 08:28

      Want to know this as well. Very important factor

  • Sgav89 on 24/09/2023 - 09:35
    +1

    Defintely making it harder to get rewards than it used to be.

  • xiaozaocha on 24/09/2023 - 10:18

    I signed up for webull and moomoo, referred one friend.

    the rewards received from moomoo is actually much less than webull.

  • mertn on 24/09/2023 - 11:39

    I'm not giving some random company with a dodgy name $5000 for any purpose. Moomoo or Webull.

    • CyberMurning on 24/09/2023 - 12:54

      Would you trust miu miu or webear?

    • cook99 on 24/09/2023 - 16:19
      +1

      No free money for you then sir

    • Pacify on 25/09/2023 - 00:56
      +1

      both are large companies backed by even larger companies

  • truffleonlydiet on 24/09/2023 - 12:40

    Just applied to sign up, two questions:

    What is the brokerage fee to sell the free shares? Can you sell the 16 shares (likely from different companies) in one transaction ?

    Where can I find my referee code?

    Thanks

  • smileboy on 24/09/2023 - 16:24
    +1

    Due to local licensing issues, residents of South Australia are not eligible to participate in this Promotion…
    Well, SA excluded :P

  • CyberMurning on 06/10/2023 - 08:53

    anyone with this since last year ? so will we get tax statement from them, and then it is easy enough to plug in the numbers into ATO website when doing tax return ? or we basically need to manually record everything?

    • Store RepMoomoo Australia @ moomoo on 06/10/2023 - 15:34
      +1

      Hi! A Financial Year Summary statement is available to moomoo users. You can find a summary of Realised/Unrealised Gain/Loss on your Financial Year Account Statement for your EOFY tax lodgment on the ATO website.

      • youngchinaman on 11/10/2023 - 15:14

        If I have sold the promotional shares after the 30 day hold period, how do I access the funds? It still shows $0 balance for me. I'm not sure how to navigate the app.

  • flyav on 19/10/2023 - 01:40

    I deposited $5,000 a month ago and didn't receive any stocks, do i have to wait until 30 days for it to happen or am I missing anything?

    • ZmbHntr on 19/10/2023 - 18:00

      In the app, just click on Me / My Rewards and you should see the Lucky Draw vouchers that you click on to get your stocks. I just deposited $2000 today and got my rewards immediately. I ended up with $78 worth of stocks which isn't too bad. Note that when you get the stocks they are frozen for 30 days during which you need to maintain your deposit balance with Moomoo, after which they're released and you get them 5 business days after that. But make sure you claim the Lucky Draw vouchers soon before they expire if you did it a month ago.

      • flyav on 20/10/2023 - 04:53

        Something must be wrong then because the only rewards there are the Brokerage-free card, there’s no Lucky Draw voucher. I made the initial deposit on 26 September.

        • ZmbHntr on 20/10/2023 - 11:13

          You might have to contact Moomoo support. I got my rewards immediately, or within a few seconds of my deposits with PayID, both with my initial deposit and top up deposit. So something seems to have gone wrong if you didn't get the rewards. Good luck.

          • flyav on 20/10/2023 - 15:34

            @ZmbHntr: Contacted customer support and they told me it will be manually issued within 1-2 business days, let's see what happens.

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