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 Moomoo trading platform review

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honsiong
post Apr 21 2021, 04:34 PM

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QUOTE(Inspir3 @ Apr 21 2021, 04:08 PM)
It's not scam at all and it's under Tencent. Many singaporean join the Moomoo platform and also spend $2700 in order to get 1 apple share.
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S$2700 is not spent, its just deposit and can be used to invest in other stuff right?
honsiong
post Apr 21 2021, 09:51 PM

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Dunno how these brokers make money if we buy n hodl, Tiger gave me like SGD 170 in cash vouchers and now Moomoo keep giving ppl AAPL share, how?
honsiong
post Apr 21 2021, 11:31 PM

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QUOTE(alexkos @ Apr 21 2021, 11:28 PM)
Tiger better ka? Maresia can apply?
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See my footer.

I don't know if Tiger is better yet, still opening Moomoo, gonna deposit some money to try get AAPL stock and see how it goes.
honsiong
post Apr 22 2021, 12:26 PM

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Holy fucking shit, Moomoo is way faster than Tiger.

Deposit is acknowledged in < 1 min, as opposed to Tiger's 5 minutes.

Their mobile UI and stability, translations etc are done better than Tiger.

I will use both for a few months to see, no harm putting stocks in both accounts, they don't impose custodian or inactivity fees anyway.
honsiong
post Apr 22 2021, 12:47 PM

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QUOTE(Ramjade @ Apr 22 2021, 12:40 PM)
Agreed. Moomoo is superior to tiger in every way. You opened with passport or IC?
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Passport, not living in SG.
honsiong
post Apr 22 2021, 12:58 PM

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QUOTE(Ramjade @ Apr 22 2021, 12:53 PM)
They don't accept Malaysian IC?
Cause tiger accept Malaysian IC.
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They don't. But MY passport + MY proof of address work just fine.
honsiong
post Apr 22 2021, 01:06 PM

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QUOTE(Ramjade @ Apr 22 2021, 12:59 PM)
Damn. My passport expired. sad.gif
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Yikes, apart from this, really no point renewing passport now until we are allowed to travel again.
honsiong
post Apr 22 2021, 06:59 PM

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Just done approval, deposit today. Now kena wait for free Tim Apple share.
honsiong
post Apr 22 2021, 07:58 PM

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Free AAPL stock should be worth wasting 1 year of passport effective time.
honsiong
post Apr 23 2021, 10:36 PM

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I have received AAPL stock, sold it for cash, and bought more VXUS.
honsiong
post Apr 25 2021, 11:31 PM

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QUOTE(erictham83 @ Apr 25 2021, 11:15 PM)
Can I ask how you all deposit the fund from Malaysia to Moomoo? Transfer directly from Malaysia Bank work?
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Probably but very expensive, just go open CIMB Singapore account, then send MYR to SGD thru bigpay or transferwise.
honsiong
post Apr 26 2021, 09:17 AM

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QUOTE(edwin1002 @ Apr 26 2021, 08:43 AM)
Moomoo took quite long time to reflect in the account compare to tiger. deposit on sunday until now still no reflect yet.
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How did you deposit? Maybe I deposited on weekdays that's why it's quick.
honsiong
post May 19 2021, 04:14 PM

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QUOTE(AnasM @ May 19 2021, 02:54 PM)
do they accept fintech deposit?
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Not sure what's that, you should only transfer from your own SG bank account. Don't wise or bigpay your SGD in.
honsiong
post May 28 2021, 06:10 PM

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QUOTE(Barricade @ May 28 2021, 02:28 PM)
question: how much does CIMB SG charge if I transfer the SGD 2700 from CIMB SG back to CIMB MY?
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You should use wise.com to transfer, then it's a lot cheaper, like 0.6%
honsiong
post May 28 2021, 07:42 PM

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QUOTE(gooroojee @ May 28 2021, 07:26 PM)
It's cheaper to send direct from cimb sg to cimb my via cimbclicks. There are no charges and the rates are competitive. I just compared it today with wise, wise lost out.
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Interesting...
honsiong
post Jun 7 2021, 11:10 AM

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QUOTE(gooroojee @ Jun 2 2021, 12:23 PM)
Another promotion:

Transfer any stock to Moomoo account (e.g. from Tiger), and get SGD50 cash coupon.
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Tiger doesn't seem to allow stock transfers out. I had to sell them first, convert to SGD, withdraw, deposit SGD again, incur 2x forex losses (about 0.6%).
honsiong
post Dec 21 2021, 10:08 PM

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Futu app is damn good.
honsiong
post Dec 21 2021, 10:21 PM

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QUOTE(TOS @ Dec 21 2021, 10:20 PM)
Ya, even better, you will soon see how good they are at sucking money out of your pocket.
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I don't day trade with it and only use it to accumulate VXUS, so its rather OK.


honsiong
post Apr 13 2022, 03:50 PM

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Sorry, where are the holding charges? I only saw ADR fees?
honsiong
post Apr 13 2022, 04:56 PM

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QUOTE(Davidtcf @ Apr 13 2022, 04:13 PM)
free for this year.. next year will start having platform fees. It is charged based on per order.
My mistake maybe is not holding fees... platform fee is a one off.

for Malaysians will need to transfer SGD into Moomoo then do a currency conversion inside.. that part could be a trap also if FX rate is high.
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The FX spread is 0.6%, higher than mid valley money changers, but otherwise its acceptable lah.

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