Aug 14 2024, 09:14 AM
QUOTE(jutamind @ Aug 9 2024, 07:28 PM)
Assuming that I've invested in one of those cash plus funds, if I don't have sufficient fund in my universal account when I want to purchase stock, will the fund be auto redeemed to cover the amount difference?
QUOTE(purplefellow @ Aug 10 2024, 11:42 AM)
I did that a few days ago. It doesn't auto redeem. Stocks will be bought using margin (account will be in negative). You'll need to redeem the MMF yourself or transfer in more cash to cover it later. I'm not sure how margin fees are calculated, so I just transferred in immediately to cover any shortfall.
I have both the Moomoo SG and Moomoo MY account, I trade mostly in the SG account. For the SG, the fund will automatically redeemed although it says margin and may give warnings. The redemption is done automatically over night. I don't do much trading with MY, yet to find out with MY. But I would think it will be the same mechanism.
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