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Moomoo trading platform review
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joeblow
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 Dec 25 2022, 01:43 PM
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Can some Moo Moo gurus enlighten me:
1. If SGD convert to USD, using their Upstream Bank rate with no commission, does it give better rate than Interactive Brokers? I read here the spread is 0.6%? That's like Rakuten Malaysia spread roughly.
2. The US stocks/ETF, is it stored under the custodian account held by Moo Moo? ie will we still be subjected to the estate duty when account holder pass away. IB you can't get away from it legally.
3. Based on the FAQs I read, seems like IB is still better when it comes to buy and hold US stocks/ETF. Anyone disagrees?
Many thanks.
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joeblow
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Aug 22 2023, 02:15 PM
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QUOTE(Ramjade @ Aug 22 2023, 01:30 PM) Ibkr does not give you interest in your first USD10k while moomoo does it. Can I check where to find the interest rate? Especially if you keep USD? Also their T&C states must be a Singaporean or resident to enjoy 0 commission for stock trading. I am neither, so is there a loophole to still qualify for the free commission? Thanks. |
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joeblow
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Aug 22 2023, 04:27 PM
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QUOTE(Ramjade @ Aug 22 2023, 03:55 PM) For moomoo or ibkr? For moomoo -> account -> fund center -> cash plus -> csop USD money market fund (5.288%p.a) For Ibkr https://www.interactivebrokers.com/en/accou...erest-rates.phpNo one give you 0 commission unless you are US citizen. Those 0 commission from moomoo is just marketing tricks which give you 0 commission for 6 months-1year (depending on promo). Moo moo... this money market fund 5.288% only for 30 days. Not actually same as IBKR. I guess I will stick to IBKR for now. |
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joeblow
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Aug 22 2023, 07:31 PM
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QUOTE(Ramjade @ Aug 22 2023, 04:38 PM) Er you know your wrong right? As long as US fed keep the rates high, you will continue getting 5%+. It's not limited to 30 days. It's limited by how long the US fed keep interest that high. Are we talking about the same thing? https://www.moomoo.com/sg/fund/cashplusFAQ How to receive 5.8% p.a.? New users who make their initial deposit of any amounts after June 30, 2023, 12:00 (SGT) can enjoy a 5.8% annualized yield on any underlying funds of Moomoo Cash Plus. The 5.8% annualized yield is only valid for 30 days. Max subscription amount into any funds under Moomoo Cash Plus for this campaign is S$ 80,000 for each user. E.g., If the first fund, Fullerton SGD Fund chosen by a new user has a 3.9% annualized yield return, Moomoo SG will make up the difference to ensure a 5.8% annualized yield for 30 days after the client's first subscription. |
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