Do you want advanced stock analysis tools, low fees, and free stock offers? Then Moomoo might be for you. Moomoo is a popular trading platform offering a free stock promotion. The excitement of getting a free share is free money in your account.
Hands-on investors who want to pick stocks, research the markets, and trade frequently with zero commissions are excited about Moomoo. There's never been a better time for you to get in on all Moomoo free stock offers this summer.
July 2024 is the perfect time to take advantage of this offer, as you can earn up to 15 free stocks with a qualified purchase!
Quick Look at How to Get a Free Share in Moomoo:
- Sign Up for a Moomoo Account
- Make the Required Deposit
- Complete Any Additional Requirements
- Receive and Track Your Free Share
Moomoo Free Stock Promotion (July 2024)
Moomoo is offering several free stock promotions. If you're a new customer, you can get up to 8.1% APY plus up to 15 free stocks. With this offer, you'll get a 5.1% Cash Sweep base rate plus a 3% APY booster for three months.
You can get five free stocks for deposits of $100 or more and 15 free stocks for deposits of $1,000 or more. To get free stocks, you must maintain your average assets based on the requirements for 60 days to unlock the stocks.
The offer is valid until July 31, 2024, 23:59 ET. You must have a U.S. Social Security number and be at least 18 years old to apply. You cannot have opened a brokerage account with Moomoo or haven't made the first deposit if you have a brokerage account. You must make the first deposit before the offer deadline.
Steps to Get Your Free Share
Here are the steps to get your free stock shares:
1. Sign Up for a Moomoo Account
The sign-up process for a Moomoo account is simple. You'll need to enter your email address and a password. You'll be prompted to create a new account by entering your name, date of birth, address, and Social Security number. You'll also have to answer questions about your employment status, income, net worth, investment objectives, and legal compliance questions.
Finally, you'll need to link your bank account and verify your identity. Moomoo only offers individual margin accounts, but you can follow instructions in Moomoo if you prefer to trade without margins.
2. Make the Required Deposit
The minimum deposit for users to qualify for the free stock promotion is $100 for five free stocks. The minimum deposit for 15 free stocks is $1,000.
You can fund your account with bank transfers, electronic deposits, or Automated Customer Account Transfer Service. You can also transfer funds from another brokerage account with a 1.5% cash reward match of up to $300.
Here's what the terms and conditions say about the free stock offer:
3. Complete Any Additional Requirements
After you complete a net deposit of $100 during the promotion period, you will receive five draws for stocks worth between $2 and $2,000. To be eligible for the promotion, you must maintain an average account balance of $100 or more for 60 days to unlock the free stocks. It is also notable that this offer is specifically for new customers or existing customers who haven't made an initial deposit yet. Existing customers who have already funded their accounts are not eligible.
You must maintain a balance of at least $1,000 to qualify for the $1,000 promotion for 15 free stocks.
4. Receive and Track Your Free Share
While you may see the free stocks after the initial transfer, you can only unlock them after 60 days of maintaining the minimum balance. At that point, they are credited to your account.
The Moomoo platform is designed for day trading and active investing. It includes investment products like mutual funds, stocks, ETFs, fractional shares, options, margins, and free paper trading. You'll also get access to charting tools, stock analysis, and an active community that can support you in learning more about Moomoo and investing.
In addition, Moomoo's investing app has everything its website offers, including access to extended-hours trading, professional research tools, market trends, and financial news. You can invest in stocks, options trading, and ETFs in the U.S. and globally.
Terms and Conditions
The validity period for the free stock promotion is from May 29, 2024, 04:00 ET, to July 31, 2024, 23:59 ET. During that time, you must open an account and deposit funds or deposit funds for the first time in a previously opened account.
This offer is only valid for U.S. residents with a valid SSN who are at least 18 years old. Additionally, existing brokerage customers who have made previous deposits are not eligible for this promotion.
Additionally, you must maintain the minimum balance to qualify for free stock for 60 days after deposit. You can only access the stock after that 60-day period.
Managing Your Free Stock
Whether you hold, sell, or trade the free stock depends on your investment strategy and the individual stock. If you prefer to focus on index funds or other diversified funds and you receive individual stocks, you might choose to sell them.
On the other hand, if you have a fixed-income trading strategy or a buy-and-hold strategy, the Moomoo tools can help you decide the right move. If the company has strong growth potential or meets your analytics criteria for investment, you could choose to hold the free stock and integrate it into your existing investment portfolio.
Remember that you must pay any relevant capital gains taxes if you sell the stock. If you hold the stock for less than a year, you'll need to pay short-term capital gains at your regular income tax rate.
Why Choose Moomoo?
Moomoo offers exceptional trading tools and a user-friendly interface to start investing in the stock market. It's also known for high-quality customer service and a good knowledge database.
Whether you're an experienced investor or want to learn about investing, Moomoo has tools to help you read your goals. Moomoo Learn Premium helps you expand your investing skills and knowledge if you're a new investor.
Additionally, all investors can access excellent charting tools, stock analysis, AI tools, financial news fees, and international investment opportunities. For example, Moomoo allows you to access stocks from China and Hong Kong, as well as margins and options.
Finally, the community features are excellent compared to other platforms. The Moomoo community has lively discussions on the latest trades. Best of all? The Moomoo app has it all, so you can check on the community and possible trades on the go.
Want more? You can check out this Moomoo review, the best stock trading apps, stock brokers, or online brokers.
Frequently Asked Questions
How does Moomoo earn money?
Moomoo makes money from the difference in its funding rate and the margin rates customers pay. In addition, Moomoo makes money on the difference between what it pays customers in interest and the rate it earns.
How do I claim stock on Moomoo?
Moomoo has regular stock giveaways in its app. You can participate in giveaways to win a chance for free stocks. Right now, you can also take advantage of a free stock sign-up bonus!
Is it safe to invest in Moomoo?
Moomoo Financial Inc. is a member of SIPC. That means your funds are protected up to $500,000, including $250,000 for cash claims.
About Alison Plaut
Alison Plaut is a personal finance and investing writer with a sustainable MBA, passionate about helping people learn more about sustainable investing and long-term wealth building for financial freedom. She has more than 17 years of writing experience, focused on investments, business, personal finance, and real estate. Her work has been published in The Motley Fool, MoneyLion, and regularly appears on Benzinga.