Futu's moomoo June Campaign

Updated on 30th June 2021 - The promotion has been extended till 2nd August 2021!

Futu Holding’s (Futu) one-stop investment platform, moomoo has achieved tremendous growth since launching Futu Singapore (Futu SG) about 3 months back with their attractive sign-up bonuses and fortunately, they have extended the promotion again and made it even better! Free Apple (AAPL) share by opening and funding the account + free NIO share with 5 trades + free Twitter share by referring your friends.

You can read more about some of their recent news and achievements here:

- Futu's FY2020 net income hits HK$1,364M, 6.5 times YoY growth

- Futu's one-stop investment platform, moomoo, achieves over 220,000 users and 100,000 paying clients in under 3-months since launch in Singapore

Anyway, these are the rewards for opening an account for this month, June:
Deposit Rewards - 1 Free AAPL Share
- Users will have to successfully open a securities account from 1st June - 30th June 2021 2nd August 2021
- Users will have to deposit a total of SGD 2,700 or USD 2,000 or HKD 16,000 within 30 days from account opening
- There is no need to complete 5 trades to get the 1 free AAPL share

Unlocking LV 1 trading badge OR Completing 5 Trades - 1 Free NIO share
- Users will have to deposit a total of SGD 2,700 or USD 2,000 or HKD 16,000 within 30 days from account opening
- Users will have to either unlock LV 1 trading badget or successfully complete 5 trades
- NIO share will only be awarded starting 18th June 2021 and is only applicable for new users that open their account from 1st June - 30th June 2021 2nd August 2021

Referral Rewards - 1 Free TWTR Share
- Referee will have to use the Referrer's link to successfully open a Futu SG securities account and complete a total deposit of SGD 2,700 or USD 2,000 or HKD 16,000 within 30 days from account opening so that the Referrer can get 1 Free TWTR share
- The cap of maximum 20 successful referrals applies to all cummulative referrals that were made between period of 1st May 2021 - 30th June 2021 2nd August 2021
- There is no need to complete 1 trade to get the 1 free TWTR share.

Sign up using our referral link here if you are interested!

Referencing the Futu SG’s Fees page, if we were to make the trades in SGX, given that commission is free for the first 180 days, you will only have to pay the platform fee (0.03% * transaction amount, minimum SGD 1.50), the trading fee (0.0075% * transaction amount) and the clearing fee (0.0325% * transaction amount) charged by SGX.

For illustration purposes, let's use an example of CapitaLand which is trading at SG$3.70 (at the point of writing):

Minimum share to purchase: 100 shares x 3.70 = $370

Platform fee: $370 x 0.03% = $0.111 which is lower than the minimum $1.50, hence it will be $1.50

Trading fee: $370 x 0.0075% = $0.02775

Clearing fee: $370 x 0.0325% = $0.12025

Total fees: $1.50 + $0.02775 + $0.12025 ~ SG$1.65

Total fees for 5 trades: $1.65 x 5 = SG$8.25 (cheap cheap)

Compared that to traditional brokers, the lowest/minimum commission is SG$10 and that is just for 1 trade excluding SGX trading, clearing fees and AAPL share too. lol.

You can read how we find CapitaLand trading at a discount after its proposed restructuring here - CapitaLand at a Discount - CLIM, CICT and Cash.

On a side note, Futu SG has another promotion for successful position/shares transfer into Futu SG Securities account:
1. The position/shares transfer-in function is only available for US and HK position/shares transfer-in.
2. For successful positions/shares transfer-in to Futu SG Securities account, you will be entitled to 01 x SGD $50 Cash Coupon for the first transfer-in only.
3. The successful positions/shares transfer-in promotion (regardless of the amount of counters and shares involved) is applicable for all users on moomoo (both existing and new users). Each user can only redeem 01 x SGD $50 Cash Coupon once.

You can refer to this guide - How to Transfer Stocks to FUTU - Transfer In Stock

Typically brokerage will charge one for transferring the shares out of the platform (inward is usually free). In my case, I will not be participating in this because the transfer fee for transferring US or HK shares out of SC Online Trading platform is just too high. Had it been a SGX share transfer promotion that cost just SG$10, I would have done it. Anyway, do check the fees required for your existing trading platform and see if it is worth the effort to participate in this promotion.

In my opinion, this is a very attractive promotion you should not miss. Besides, Futu SG is also charging one of the lowest commission in Singapore and is definitely worth taking a look at.

If you are interested in moomoo powered by Futu, do use our referral link for our readers to get the above benefits! You can refer to their terms and conditions here.

For more information, please contact the customer service team directly at clientservice@futusg.com or you can also call them at +65-6439 1100.

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