let me give u an educated guess, they want to publish in the news and say that they set up shop and the already have RM millions asset under management

First you say they are losing out by giving apple shares, now you are saying why do they require user to put in 8k deposit? Your statement is a bit contradicting isn't it? Are you saying they should give out Apple shares more easily or tighten the requirement?

Anyway, having the user to put in 8k deposit is pretty reasonable I would say. It would weed out the less serious users and shows that you are committed to the platform. Else anyone can register and claim the free share, and at the point it will be lesser sign up bonus for the rest of us.

Anyway its a long term game, short term of course they are burning cash to increase their market share.

yup, not a new strategy. in fact there's a word for it -> blitzscaling

Their purpose is to attract traders. In order to trade you need money right? They lock the apple share for 30 days and giving out vouchers and free trade hoping people will use the deposited money to trade lo.

yes I get that too. But I also see a lot of scams out there are asking people to shell out some money before paying them back.

https://www.moomoo.com/my

anyway i don't think something can be approved by SC malaysia without such custodian services. even Luno does it

This post has been edited by Medufsaid: Mar 2 2024, 11:02 PM

There's always some risk involved when putting in money onto a platform.

Hence, do your own due diligence.

[quote=abcn1n,Mar 2 2024, 06:43 PM]

[/quote]

Haven't been in the forum for months until today and I see a notice for me. Guess its because Medufsaid quoted me? Talk about timing, lol.
Anyway. after a lot of headaches managed to open it but I really can't remember how I did it as I tried many different things repeatedly for quite a while. Didn't report it because was also facing some problems elsewhere concurrently which shifted my attention. No point opening in Singapore. Moomoo Singapore commissions for Malaysians are expensive especially the options.

[/quote]

Hi, thank you updating.

I guess they *MAY POSSIBLY* use the funds deposited by the people to invest in investment instruments like MMF. With that, they may able to offset their 'loss' (marketing expenses) on giving out the Apple Shares. At the same time, promotions like 0% commission for the first 6 months may further attracting more customers.

+ we do not know when FUTU bought the Apple Shares, maybe with a lower price years ago.

ANYWAY, its just my guessing.

This post has been edited by BrightDays: Mar 2 2024, 11:24 PM

Moomoo sg also gave aapl share when they first started in Spore. I got the aapl share by depositing sgd2700 at that time. After that i sold the aapl share for usd130 and withdrew everything.

Anyway everyone risk appetite is different. If you feel moomoo my is fishy by giving aapl share, u can choose to ignore it.

Moomoo is a subsidary of FUTU, and is backed by Tencent. Have you googled them up before assuming that they are trying to earn 10% in 1 month to cover the losses

why want to give people free apple share without deposit. if do that , those user not loyal to do trading at moomoo.
park for a month is valid reason. only the genuine will put 8k. it is smart decision.

No such thing as free meal in this world

This post has been edited by ericlaiys: Mar 2 2024, 11:33 PM

Is it just me or he sounds like someone who can’t afford to pay 8k and throwing tantrum here because missing out on free apple share?

Can moomoo.my buy ETF? If can, wanna to move stashaway portfolio here, so can jimat the monthly management fee.

bourse yes, but not London LSE etfs. so something like iShares MSCI ACWI UCITS ETF USD can't be found in Moomoo

open IBKR account instead if you can

learn a new word today

was thinking instead loss leader

I just glance thru and only found account registration via website and couldnt find any app link. Can register either way?

Found this in Playstore, is this the one for moomoo malaysia registration .?



This post has been edited by MGM: Mar 3 2024, 02:26 PM

After parking 8k, any plans to subscribe to an MMF on moomoo my? or just let it sit for 30 days for AAPL before cashing out?

moomoo my got MMF? i see no wealth tab below.

Don't know, I just opened account, waiting for them to review. Just want to see what people planning to do after parking in rm8k

Anyone know what the cash coupons are used for? doesn't seem like a cash bonus as they have validity of 90 days.