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 Moomoo trading platform review

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adam1190
post Jun 2 2023, 08:36 PM

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I am a Malaysian living in Australia temporarily currently.

As I have already have a moomoo Australian account, anyone knows if I can open a moomoo Malaysia account as well?
adam1190
post Sep 5 2023, 12:14 PM

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Are we able to use moomoo Malaysia to trade yet?
adam1190
post Feb 27 2024, 09:46 PM

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QUOTE(download88 @ Feb 27 2024, 05:01 PM)
any interest if park money in?
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I wonder too..
adam1190
post Feb 29 2024, 08:03 PM

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QUOTE(Davidtcf @ Feb 29 2024, 11:49 AM)
Yea mine just completed. I see same thing as u now. So check back after 30 days (or +5 if need to) make sure unlock baru withdraw.

user posted image

Once able to unlock this button will be click able (after 30 days):

user posted image
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The 8000 deposited money has been reflected in my moomoo account but I cannot see any apple share to unlock? It takes time for it to appear in my rewards page to unlock?
adam1190
post Feb 29 2024, 08:18 PM

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QUOTE(ben3003 @ Feb 29 2024, 08:10 PM)
oledi say need 30days ma...
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I have found the answer, need to go to claim it first before it appear in the reward, they should just reflect it automatically in my reward section like the free stock coupons:


adam1190
post Feb 29 2024, 08:49 PM

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QUOTE(Medufsaid @ Feb 29 2024, 08:25 PM)
needing to claim it lost me a few hours
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Yea they intentionally make it more troublesome ..

adam1190
post Mar 18 2024, 01:02 PM

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Actually not entirely true that is cheaper to find ibkr account using wise. I just did a simple conversion using current moomoo rate and realise that I could get USD 21,101.09 (by converting RM 100,000) compared to getting only USD 21,050.49 via wise (by converting using RM 100,000 as well). This translates to getting an extra USD 50.6 in moomoo (USD 21,101.09 - USD 21,050.49).

Having this extra USD 50.6 should be able to more than fully offset the stamp duty charges by Malaysia government if the trade value is RM 100,000 which will incur a stamp duty of RM 100.


adam1190
post Mar 18 2024, 02:28 PM

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QUOTE(Medufsaid @ Mar 18 2024, 01:06 PM)
adam1190

  1. i don't use wise to fund IBKR. i'm using moneymatch that offers same rate as Moomoo. i'm using Wise to illustrate how even using an expensive remittance company is still the smarter choice in the long run
  2. $21101.09 translate to RM99565.49. that's RM100/U$21.19 in stamp duty. you buy once, sell once. then buy something else, you just paid U$63.57 in stamp duty
with good conscience, i cannot recommend moomoo Malaysia to ppl based on fees alone. unless you really only buy ETFs and hold them for years. and your investment strategy never ever changes
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My bad, yea is cheaper using ibkr if a person has a few trades and my example is only valid if a person only has around 2 transactions or less
adam1190
post Sep 1 2024, 09:27 PM

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QUOTE(lola88 @ May 9 2024, 08:17 PM)
I use Moneymatch to transfer from Cimb MY to CIMB SG. From CIMB SG transfer to Moomoo SG.
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Is it possible to use moneymatch to deposit directly to moomoo Singapore without having to go through any local Singapore bank account?
adam1190
post Sep 1 2024, 09:29 PM

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QUOTE(Medufsaid @ Jul 16 2024, 01:06 PM)
apowerfulskill deposit

  • wise
  • singapore bank account
withdrawal

  • singapore bank acct only available

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Quite ironic they allow deposit via wise but cannot do withdrawal back to wise
adam1190
post Sep 1 2024, 09:38 PM

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QUOTE(Medufsaid @ Sep 1 2024, 09:33 PM)
adam1190 yup actually the same thing for IBKR also. you can deposit from Wise to IBKR. you cannot directly withdraw from IBKR to Wise. it needs to go through local USA bank
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I see, by the way your yup reply is on moneymatch can send money directly to moomoo sg like wise without going through sg bank?
adam1190
post Sep 2 2024, 12:12 AM

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QUOTE(Medufsaid @ May 27 2024, 01:09 PM)
Barricade u can actually directly convert MYR->USD using wise. should be cheaper than MYR -> 0.3% -> SGD -> 0.5% (Moomoo SG) -> USD
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Does it mean that moomoo Singapore can accept both USD and SGD as the deposit currency and hence no need to convert SGD to USD within the app to trade US stock? Unlike moomoo Malaysia which can only accept MYR as the deposit currency and need to convert to USD within the app to trade US stock..

This post has been edited by adam1190: Sep 2 2024, 12:14 AM
adam1190
post Sep 2 2024, 12:37 PM

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QUOTE(Medufsaid @ Sep 2 2024, 08:42 AM)
yes, however you hit the same roadblock when withdrawing USD. Do you have a dbs sg account?
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I don’t have one, only if they allow withdrawal of usd to wise usd bank account like IBKR..

Edit: just managed to open a moomoo sg account and understand why can’t withdraw usd to wise already from moomoo sg as they don’t have option to withdraw to US bank and hence we can’t input the USD bank details provided by wise..

@medufsaid, may I know for the wise bank account details right, for USD balance, it is under Evolve Bank which is a US bank, but for wise SGD bank account balance, it is under wise asia pacific pte Ltd (instead of a local SG bank like what wise did for USD balance)?

This post has been edited by adam1190: Sep 2 2024, 02:27 PM
adam1190
post Sep 2 2024, 02:49 PM

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QUOTE(Medufsaid @ May 27 2024, 01:09 PM)
Barricade u can actually directly convert MYR->USD using wise. should be cheaper than MYR -> 0.3% -> SGD -> 0.5% (Moomoo SG) -> USD
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Does anyone know if it is cheaper to fund using direct wise transfer from MYR-USD compared to using the moneymatch SGD method where we moneymatch to SGD bank account then transfer SGD to moomoo and convert to USD thereafter in moomoo (MYR-SGD-USD)?
adam1190
post Sep 2 2024, 05:07 PM

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QUOTE(Medufsaid @ Sep 2 2024, 04:25 PM)
cheaper to send USD to Moomoo SG via Wise. how do you plan to withdraw? you already have an IBKR acct, why not create a sg bank acct?
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Planning to create a sgd bank account but meanwhile fund using wise first to get the new user promo freebies
adam1190
post Sep 3 2024, 12:33 AM

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QUOTE(Eugenet @ Jul 4 2024, 08:08 PM)
See their FAQ (https://www.moomoo.com/my/support/topic9_205) below. I believe you can trade (sell and buy). Do not sell and withdraw the cash.

There is now a new version 2 of Transfer-In promotion ending July 31. Only for those who missed the first promotion (those who had already participated do not qualify). Based on a cursory examination, there are two differences:
• transfer in RM100k to get AAPL (previously RM80k)
• transfer fee subsidy capped at RM100 (previously RM200 for Tier 2)

Tier 1 benefits appear intact. Still worth it in my book. Who doesn't love free money?
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Under the instant reward section, the RM 100 transfer-out rebate means if they will give RM 100 regardless of the number of share counters I transfer or they will give the rebate according to the number of share counters that were transferred in? Thank you.





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adam1190
post Sep 18 2024, 09:59 PM

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QUOTE(fattyghost @ Sep 12 2024, 06:26 PM)
Yeah, you're the 1 barking. I submitted the withdrawal request by 10/9 morning. But due to their calculation error, they rejected my withdrawal, force me to resubmit again by the end of the day.

What kind of stupid system is this that can't even calculate how much I can withdraw by the time I submit the withdrawal request?

And why they need so much time to deposit money to my account after the request is "completed". This is nonsense. Rubbish platform.
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When did you receive the money in the end
adam1190
post Dec 24 2024, 10:32 AM

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QUOTE(kremlin @ Dec 21 2024, 09:32 AM)
Hi guys, just deposit 30k to Moo Moo and I need to make 3 trades to get the Apple Share. Any tips on meeting this condition?
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Just buy any funds under cash plus 3 times..
adam1190
post Dec 24 2024, 11:26 AM

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QUOTE(Medufsaid @ Dec 24 2024, 10:35 AM)
adam1190 need to check the tnc for kremlin's promo. they closed that cash plus loophole for the newer promos, have to buy stocks

so i guess, if don't know what to buy, can convert to USD and buy $BIL (also has its own set of forex risks)
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Didn’t know that cause just helped my uncle using this buying fund method early December..
adam1190
post Dec 30 2024, 11:56 AM

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QUOTE(Medufsaid @ Dec 24 2024, 10:35 AM)
adam1190 need to check the tnc for kremlin's promo. they closed that cash plus loophole for the newer promos, have to buy stocks

so i guess, if don't know what to buy, can convert to USD and buy $BIL (also has its own set of forex risks)
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The cash plus loophole still not closed, just verified and can just deposit 3 times into cash plus fund smile.gif

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