Update 6/18/24: Deal is back and valid until Jul 31, 2024.
The Offer
- Signup for a new Moomoo account and get a 1.5% match on your investments transferred in by May 28th. Max $300 bonus ($20,000 invested).
- This bonus offer also applies to someone who already opened a Moomoo brokerage account and have not yet transferred in any funds.
The Fine Print
- Offer valid through 5/28/24
- Transfer Bonus: Maximum possible Cash Rewards for promo is $300 (1.5% on a max $20,000 transferred to Moomoo via ACAT)
- Cash rewards are valid for 24 months from the date of issuance of the reward. Cash Rewards can be used when clients reach the unlock condition: keep the transfer-in assets in moomoo account for 90 days after clients get the Cash Rewards. During the unlocking period, clients can trade their transferred assets but if they transfer out or withdraw the funds, unlocking will fail. Please note, if you transferred-in more than $20,000 in to your account, only the initial $20,000 needed to be maintained in your account for 90 days for purpose of unlocking Cash Rewards. Due to the unlocking period, kindly check the “my rewards” list when clients receive the coupon rewards.
- Cash Rewards you may be awarded depends on the value of the assets that you transfer firstly into MFI during the Promotion Period. The value of the assets is determined at the time of settlement and not at the time you initiate the transfer.
- The cash reward will be credited to your Moomoo Financial Inc. brokerage account within 5 business days after the first transfer settles. Eligibility for rewards will be revoked in the event a transfer fails or does not settle within 7 days of end of the Promotion Period.
Our Verdict
$300 return for just $20,000 in transferred investments is a solid deal, when comparing against comparable deals from other brokerages. Also nice that the bonus posts in 5 business days.
Note: It sounds like you might have to do the full $20,000 in a single ACAT transfer to get the full $300 award. Also be sure to claim the award. And, during signup, be sure to choose the $300 bonus option and not the $35 bonus option.
I personally tend to go more for the deals with higher transfer requirements and higher rewards due to the hassle factor. Still, a lot of people will be interested in this very doable deal. A lot of people also like Moomoo for their semi-frequently targeted offers and for the referrer offers. We’ll add this to our List of Best Brokerage Bonuses.
If you’re doing this offer, reach out first to friends and see if they have a referral link. You’ll get the same signup bonus and your friend will get a nice $110 bonus and more, see details here. I probably won’t make a referral thread since the same bonus is publicly available.
Hat tip to reader Eric