QUOTE(lola88 @ May 9 2024, 10:56 PM)
Actually how does Moomoo MMF works? I am kinda confused 😅. To clarify, MooMoo SG will pay us in cash SGD (6.8%-return from csop/fullerton in 31 days)? Than the annual return fr CSOP is about 0.6-1% per annum? So the interest rate in comparison to Kenanga/Versa Save is about the same after currency conversion and the advantage over is we get to park money in Sgd/Usd?
https://csop-pdf-bucket1.s3.ap-east-1.amazo...5e069453ce2.pdfYou get around 5.1%p.a. You get higher cause of promo by moomoo. No way MMF interest can be higher than central bank interest.

No it's not the same.
KDI give you 4%p.a
Versa giving now like 3.7%p.a
Moomoo giving like 5.1%p.a CSOP USD), 3.64%p.a (Fullerton SGD)
Moomoo CSOP is USD
Depending on how you convert your USD/SGD.If you use banks to convert you instantly lose 2-3% (banks take that huge amount of cut). If you want to put CSOP, you need USD. If you want Fullerton you need SGD.
Not the same.with KDI and versa. KDI and Versa give you your return in RM. Moomoo give you your return in USD/SGD (depending on what you choose).
A 4%p.a in RM value is not the same as 3.6%p.a or 5.1% in SGD and USD (provided you make your money one way ticket and dont keep converting back). If you keep converting back, just keep it in Malaysia.
The reason you are keeping it overseas it because the RM will be worth less with time Vs the USD/SGD.
Hope you understand. I noticed you ask lots of questions but you don't seem to understand or just for trolling.
This post has been edited by Ramjade: May 9 2024, 11:13 PM