Moomoo is an investing app that includes a full-featured brokerage account with free stock trades, free options trades, and so on. Right now, they have increased their sign-up bonus significantly if you can deposit $5,000+ and maintain the deposit for 60 days. You must be a new client that has never made a deposit at Moomoo previously.
If you open a new Moomoo account via referral link (recommend opening on mobile device) and then deposit $5,000 during the promotion period (now through 7/16 11:59pm ET) and maintain the average asset balance of $5,000+ for 60 days, you can receive all of the following:
- 15 free shares of stocks, each worth between $3 and $2,000.
- 1 bonus share of TSLA or GOOG stock.
- $100 cash reward (* deduction on stock purchase, details below)
- $50 additional cash reward (available with referral link only)
If you assume the minimum $3 per share value and the current share prices for TSLA (~$280) and GOOG (~$120), the total bonus value would be 45 + 280/120 + 100 + 50 = $315 to $475. That’s an excellent ROI on a $5,000 deposit for 60 days, and you can also invest the $5,000 as you wish. Conservatively, you could hold an ETF like SGOV or BIL to trigger the $100 and $50 cash reward credit along with earning some additional interest with minimal risk. The previous standard offer was only worth 15 free shares (value ~$45). You can view the full terms here.
From their FAQ:
For new clients:
– Complete a net deposit of $100 during the Promotion Period, and you will receive 5 draws, each for a free stock worth between $3 and $2,000. After receiving your free stocks, you’ll need to maintain average assets of $100 or more for 60 days to unlock the stocks (“Assets” includes cash and securities positions).
– Complete a net deposit of $100 during the Promotion Period, and you will receive a $100 Cash Reward. The Cash Reward can be used as a deduction when the stock purchase order exceeds $1000
– Complete a net deposit of $1,000 during the Promotion Period, and you will receive additional 10 draws, each for a free stock worth between $3 and $2,000. After receiving your free stocks, you need to maintain average assets of $1,000 or more for 60 days to unlock the stocks.
– Complete a net deposit of $5,000 during the Promotion Period, and you will receive an additional 1 share of TESLA or GOOGLE (NYSE: $TSLA or $GOOG). After receiving your free TESLA or GOOGLE stock, you need to maintain average assets of $5,000 or more for 60 days to unlock the stock.
About cash rewards:
1. Cash rewards are applicable to stock orders placed through MFI brokerage accounts. Cash rewards can only be used to buy stocks.
2. After use, a cash reward amount equal to the face value of the coupon is credited to the coupon user’s brokerage account.
3. Cash rewards will be credited to the first eligible trade order (buy-to-open orders only) during the Promotion Period. The use of cash reward depends on the order amount, product type, applicable market, and other conditions. Once the eligible order is filled within the Promotion Period, the cash reward will be credited to the client’s account.
4. The cash rewards will be credited to the client’s account within three trading days after the order is settled.
5. Cash rewards can be used only once per order. However, you can use the cash rewards in conjunction with a commission discount or zero commission coupon.
6. By default, cash rewards with the earliest expiration will be used first. If two or more cash rewards have the same expiration date, by default, the cash rewards with the higher denomination will be used first.
7. To ensure a smooth user experience, please make sure that you are using an up-to-date version of the mobile App.
8. Cash rewards are not registered, non-transferrable, irrecoverable once lost, and can be used only once.
9. Cash rewards are promotion rewards, and moomoo reserves the right to reclaim cash rewards acquired via inappropriate means, such as exploiting system vulnerabilities, hacking, and false pretenses.
10. Moomoo reserves the sole discretion to interpret the terms and condition of this promotion.
11. You must have a brokerage account with Moomoo Financial Inc. to redeem cash rewards. Points and cash rewards may be redeemed only through the moomoo app and have no other value.
12. Cash rewards are valid for 24 months from the date of issuance of the reward. Validity is calculated per date of issuance and not as per date of delivery.
How to claim my free stocks?
– Once you meet the promotion criteria, we’ll send you an in-app notification. Then you can go to the “Welcome Bonus” page on the moomoo app and tap the “Draw” button on the page to claim your rewards (You can go to the event page via “Me” – “Promotions” – “Welcome Bonus”. If you didn’t receive the in-app notification or any opportunities to draw within five business days after you met the promotion criteria, please do not hesitate to contact our customer service);
– Tap “Draw” to draw a free stock. If you have multiple opportunities, you can continue to draw until you use them up;
– After you successfully draw your free stock, we will add it to your account within five business days. You can check it at the bottom of the “Brokerage Account” page in “Trade”.
– Once you complete a net deposit of $5,000, we’ll add 1 share of “Pending” $TSLA or $GOOG to your account within 5 business days.
How does moomoo choose your free stock in a draw?
Your free stock is chosen randomly according to a specific probability distribution, so you may not receive the same stock as others.
The probability distribution is as follows:
There is approximately a 95% chance of getting a share of stock worth $3-$9.99, a 4.9% chance of getting a share of stock worth $10-$99.99, and a 0.1% chance of getting a share of stock worth $100 or more.
*Probability may vary with stock price fluctuations. Moomoo Financial Inc. reserves the right to adjust the incentive program parameters at its discretion.Do I have to make a lump-sum deposit to meet the deposit criteria and get my bonus?
No. You can make deposits in any amount each time. If you successfully make an initial deposit during the promotion period and your average asset balance meets the promotion criteria, you will be eligible for the bonus.