This was posted 9 months 15 days ago, and might be an out-dated deal.

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Sign up, Deposit $5000 & Receive 15 Free Shares (from A$7ea to A$419ea) @ Moomoo

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Sign up, Deposit $5000 & Receive 15 Free Shares (from A$7ea to A$419ea) @ Moomoo
Go to Deal
cooni on 13/07/2023 - 13:56 fego-au.moomoo.com (4186 clicks)
Last edited 01/09/2023 - 15:07 by 3 other users

For anyone that hodl'ed on the last deal, wait a little longer and you can get even more free stonks for signing up - or signing up your partner or parents or whoever (just make sure you use a separate device to sign up because they keep track of that and disallow the referral otherwise).

Steps to success:

  • Sign up on or after 21/7/23
  • Deposit $5000 and get 15 free shares (was $2000 and 10 free shares), deposit less and get less shares. As well as a $50 stock discount coupon.
  • If you signed up with a referral and then make a trade, you get 2 extra shares another free $50 stock discount coupon.

I got pretty lucky when I signed up, with 2x Cola-Cola, 6x GameStop, 4x AMC.
Apparently OP of the last deal got a request from moomoo to take down the probabilities so I have done the same but gee look at how well the tech stocks have done since the date of their T&C!

Takes about a business day or so to verify your deposit, after which you can withdraw it after verifying the withdrawal account (another business day or so). Also comes with brokerage free trading (fees to be refunded before the 15th of the next month).

From the email that just went out:

Hi mooers,

Here at moomoo, we're big on giving our users what they want. Thanks to the overwhelming response from our Spin & Win promotion, we've decided to keep the promo (and wheel) rolling.

Plus, there's now a chance to win even more free stocks!

From Friday 21 July, the updated Spin & Win promotion will include an additional deposit amount tier of AUD $5,000, entitling customers to an additional spins of the prize-guaranteed wheel. New T&C will apply for new users and be shared once it's live.

Please be aware that our current promotion will end at 11:59 PM (AEDT) on 20/07/2023. Users who have already deposited an amount less than AUD $2,000 and who wish to acquire the existing rewards on offer, must deposit the remaining amount (to make up to AUD $2,000) by this date.

We are excited to announce that on Friday 21 July, moomoo will also reveal a brand new referral promotion with bigger and better rewards. Stay tuned for what's coming next!

Happy trading.

From,
Team moomoo AU.

Edit 21/7/23: Apparently this goes live at 8pm and we're yet to see if we need to generate new referral codes for the new promo. If we do, will need to contact a mod to clear the existing referrals.

Edit: Live now on all existing referral links

Referral Links

Referral: random (478)

Referrer gets $10 Cash Coupon for each referee who signs up & downloads moomoo app for the first time, $10 Cash Coupon for each referee who opens their Moomoo AU trading account for the first time, and $30 Cash Coupon for each referee who makes an initial deposit of $100+ in their Moomoo AU trading account. (Referrer can get $50 Cash Coupon in total.) Maximum 10 referrals per referrer.

Referrer also gets additional 1 free Apple stock for referring 5 referees who sign up & download moomoo app, and deposit $100 for the first time.

Financial Brokerage Share Trading Shares (financial)

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closed Comments

  • cheekymonkey97 on 13/07/2023 - 14:02
    +1

    Moomoo referrals are shit, you're limited to 3 people you can refer before you start getting nothing for them. Hopefully they change this.

    • cooni on 13/07/2023 - 14:03

      Yeah I was wondering about this…
      My 'main' referral code shows 9 invites left, but it says get 5 stocks for referring 1 friend to trade, up to 15 stocks.

      Do you know if you get anything if you use one of the other referral codes?

      • cheekymonkey97 on 13/07/2023 - 14:04

        YOU as the referrer only get stocks from those "super" referral codes as far as I'm aware. They have 10 invites each but will only pay for 3 referrals.

        • Corza000 on 13/07/2023 - 15:14
          +1

          That seems to make sense as I've had others use my code after my first 3 referrals but nothing has come through.

          • ely on 13/07/2023 - 15:18
            +9

            @Corza000: Yeah, likewise, PITA. Still got good value off my 3x, going to remove my referral code so from OzB so that others can get more of a chance.

            • jsediv on 13/07/2023 - 17:11
              +3

              @ely: Good idea. I'll do the same. I've had two sign up already but haven't received my spins yet. How long did it take you?

              • ely on 13/07/2023 - 17:35
                +1

                @jsediv: It was pretty quick, but they need to meet the referral criteria first - deposit and trade before you get your spins for referring.

                • jsediv on 13/07/2023 - 17:51
                  +1

                  @ely: Ah gotcha. I'll keep my eye on the rewards page. Cheers

            • ely on 02/08/2023 - 10:11

              @ely: Note that the new promo resets this limit, from their email this morning

              NOTE: Referral limit from the previous referral campaign does not apply to this campaign

      • moneypenny23 on 13/07/2023 - 14:25

        I believe the regular referral codes just give additional free brokerage, but not 100% sure.

    • bobwokeup on 14/07/2023 - 12:38

      That’s not correct, I’ve had a few referrals since I joined and I just checked - got 8 left on the current code.

      • cheekymonkey97 on 14/07/2023 - 13:19

        It is correct. You have 8 referrals but only 1 of those 8 will give YOU bonus shares. The other 7 will give you nothing becaue it's a maximum of 15. Read the terms.

        • bobwokeup on 14/07/2023 - 13:19

          My apologies, that’s messed up.

  • nsingh21 on 13/07/2023 - 14:05
    +1

    So better wait one more week until 21st July?

    • cooni on 13/07/2023 - 14:13

      Yes

      • Bladeyyy21 on 14/07/2023 - 01:59
        +1

        Any idea if we'd be able to withdraw the 5k immediately?

        • cooni on 14/07/2023 - 08:17
          +1

          Nearly. Takes a business day to go in, and withdrawal takes a business day to get approved out.

  • Stopback on 13/07/2023 - 14:12

    How do you see the cost base of shares given.

    • cooni on 13/07/2023 - 14:17
      +4

      I don't know but just sell them straight away and it becomes a non issue

    • dazweeja on 13/07/2023 - 21:34
      +1

      On the Accounts tab in the app, it has the cost of each asset. I guess it should be accurate unless you buy more of an asset which might change the cost basis.

      • Stopback on 13/07/2023 - 23:05

        Price / cost

        So cost is the cost basis.

        Ty.

  • mr_asstight on 13/07/2023 - 14:17

    so this is only for new sign ups?

    • cooni on 13/07/2023 - 14:17

      Correct

  • mrjames on 13/07/2023 - 14:36
    +8

    I'd be curious as to what their marketing budget is. They must be pissing away VC money on this.

  • countmein on 13/07/2023 - 14:40
    -5

    Why? Stake is $3 for asx, cimc is 0 for upto $1k per day, good for dca

  • rekke on 13/07/2023 - 14:41
    +1

    So what was the total value of the bonus stocks you got?

  • abc on 13/07/2023 - 15:00

    What are the deposit options for MooMoo?

    Are credit cards accepted?

    • theguyrules on 13/07/2023 - 15:01
      +1

      PayID or BSB+Account number.
      Must be from an account in the same name as the Moomoo account.

  • onetwothreefour on 13/07/2023 - 15:14

    So it's just deposit $5k, no need to buy stocks with that money?

    • mkto on 13/07/2023 - 15:35
      +1

      you dont need to, but if you make a single trade you and the referrer get a heap of bonus spins

    • cooni on 13/07/2023 - 16:46
      +1

      Buy a cheap stock, sell the same cheap stock. You'll probably lose like 1 cent even with market orders.

      Then you get more bonus spins / stocks.

  • Alanw on 13/07/2023 - 15:16
    +3

    Oh no, I signed up last week!

    • whapkaplit on 13/07/2023 - 17:22
      +1

      So annoying, I signed up last week too.

    • Bdawg on 14/07/2023 - 14:41
      +7

      Don't worry, the $2000 deposit was just part of the long con. Now people trust it they will put $5000 in and moomoo rides off into the sunset, pig butchered!

  • Mxx on 13/07/2023 - 15:21

    Got 135 USD worth with my 12 spins last week, just got sis to sign up yesterday :(

  • ATangk on 13/07/2023 - 15:42
    +4

    Apparently OP of the last deal got a request from moomoo to take down the probabilities so I have done the same but gee look at how well the tech stocks have done since the date of their T&C!

    If only Ozbargain had this thing called revision where you can see the entire history of the edits… ;)

    • cooni on 13/07/2023 - 16:47
      +1

      Imagine my shock when I only noticed their revision seconds after posting my deal so had to put the same revision in mine!

      • poiterbad on 13/07/2023 - 23:20
        +4

        It's funny because the probability of getting each stock is in their T&Cs, so unsure why sharing them wouldn't be allowed

  • Aerith-Waifu on 13/07/2023 - 16:09

    So what's the most people got on the shares in terms of value?

    • Bdawg on 14/07/2023 - 14:42
      +2

      I got 12 TSLA.

      • CauseNEffect on 28/07/2023 - 17:27

        I call BS on that. Such low odds.

        • wavesgreen on 28/07/2023 - 19:35
          +1

          During the various Webull promotions there were several times where people were getting all one type of high-value stock, I think it was AAPL. These spikes seemed to occur near the end of the month and I am pretty much certain these organisations use an algorithm to a) give generally below average value stocks to most sign-ups and then b) after a while spike the value in order to drive buzz once they see sign-up numbers levelling off.

          • kypermaster on 28/07/2023 - 21:48

            @wavesgreen: So wait until the end of the month to claim the spins?

            • wavesgreen on 28/07/2023 - 22:34

              @kypermaster: We never really nailed it down in the Webull thread(s) and well, it was Webull not Moomoo so YMMV.

          • sircrumpet on 28/07/2023 - 22:46

            @wavesgreen: Since they openly publish the odds in their T&Cs, I’d expect them to stay consistent through the promo in this case.

            The probability of winning each stock is as follows:
            TSLA 0.001%
            AAPL 0.005%
            GME 9.994%
            LCID 30%
            UA 30%
            AMC 30%

  • Ozfanmel on 13/07/2023 - 16:13

    Hi I see 9 invites left but is there anyway to find out how many of them registered using my referral code. I have 2 clicks since may month but not showing any referral rewards.

  • barandgain on 13/07/2023 - 16:15
    +1

    The offer seems to be available now . i googled moomoo, clicked the first link and was directed to
    https://invest.au.moomoo.com/welcomerewards_july?global_cont…

    • cooni on 13/07/2023 - 16:50

      Interesting. It says valid from July 1 to July 31. Maybe if us previous signups deposit the additional 3k we'll get more spins?

      • eecchhoo on 13/07/2023 - 18:55

        Now we wonder if this offer is the same as the one you posted with an earlier start date.

    • GeoK on 13/07/2023 - 16:55

      did not work. only offered 10 after signing up!

      • ayum1 on 14/07/2023 - 02:26

        Yeah I haven't received my 2 additional shares for purchasing a stock (AMC).

      • barandgain on 14/07/2023 - 10:22

        yeah it's showing me the same on the app but i contacted support and they confirmed i'll get 15. will transfer some money now to see if it's indeed correct

        • GeoK on 14/07/2023 - 10:47

          tried that yesterday, they said they gonna get back to me in 2 business days!

          Have you tried to deposit the $5000 to get the 15 stocks?

    • eecchhoo on 13/07/2023 - 17:45

      From the t&c this offer not available for SA residents
      (for avoidance of doubt, residents of South Australia are not eligible to participate in this Promotion)

      • moneypenny23 on 13/07/2023 - 17:59
        +1

        It does state that but a bunch of us from SA have now claimed the moomoo rewards successfully so they don't seem to be enforcing that.

      • Matt P on 13/07/2023 - 18:28

        interestingly, the promo in the OPs post doesn't have this exclusion. Weird

        • moneypenny23 on 13/07/2023 - 19:43

          Well it seems the T&Cs for this one aren't live yet, according to OP's email, so we'll see if they change it.

  • retnup on 13/07/2023 - 16:20

    Can you transfer the stonks to a different broker after receiving them?

    • claudefrog12345 on 14/07/2023 - 08:42

      No cause you don't get a hin as they are not chess sponsored so technically you don't fully own them so if moomoo goes bust you can lose the lot.

    • Castcore on 14/07/2023 - 10:38
      +1

      Yes you can but it's a $75 fee so super not worth.

      • eecchhoo on 14/07/2023 - 13:00

        So the trade fee is US$1.99 and will be converted automatically to AUD?
        How is the forex rate?

    • retnup on 14/07/2023 - 12:40
      +1

      Not being able to transfer or getting the hin is trash

  • DumpsterDiva on 13/07/2023 - 16:25
    +4

    I don’t get this - what’s in it for moomoo? Feels too good to be true free shares/money. What’s the actual catch though….

    • cooni on 13/07/2023 - 16:51
      +11

      Down the track when someone plants the idea in your head to buy stocks in something, you realise there's a convenient option you've already signed up for and had a smooth experience depositing, buying, selling and withdrawing.

      So where do you go? moomoo.

      Welcome to marketing.

    • reloxation on 13/07/2023 - 17:13
      +2

      Maybe manipulating market or it's a front for something lol. Does seem a bit too good to be true that you can make $$$

      • Pacify on 14/07/2023 - 11:53
        +1

        Its just an expensive way to get customers, Webull did the same thing. Chinese companies with a lot of cash trying to build a customer base

        • wavesgreen on 14/07/2023 - 13:52
          +1

          Webull paid me $1050 so I'm very happy haha

    • damz on 17/07/2023 - 22:14

      Was thinking the same. But if customers like it they might stick to it.
      The functionality & features provided by moomoo application seems pretty decent and I am surprised to see it also provide OPTION trading. Not sure what the brokerage is for option trading but it sure is a good option for savvy traders. Novices stay away from options please.

    • falcine on 22/07/2023 - 01:00

      Catch is that if you stay and use the service they milk you in a number of ways. Earning interest on your cash, lending your stock to short sellers (this can be quite lucrative for the broker, e.g. cost to borrow AMC stock is currently 1,057%), selling order flow — all on top of normal transaction fees.

  • DealBroker7 on 13/07/2023 - 16:28

    Can i still do this if i already have a Moomoo acc? Or is this only for new customers?

    • BenjiBenj on 13/07/2023 - 16:32

      "Sign up on or after 21/7/23"

  • BananaMan007 on 13/07/2023 - 16:34
    +8

    Expected profit through discrete probability.
    [IMAGE OF EXPECTED RETURNS + CALCULATIONS] (https://pasteboard.co/tmkAu4pu8kbt.png)

    Summary Table:
    Number of spins (n) Expected Profit (E(x)n) USD Expected profit AUD (1.47)
    Intial 15 $233.41 $343.12
    16 $248.98 $365.99
    Conduct Trade 17 $264.54 $388.87
    18 $280.10 $411.74
    19 $295.66 $434.62
    20 $311.22 $457.49
    21 $326.78 $480.37
    Refer 1 22 $342.34 $503.24
    23 $357.90 $526.12
    24 $373.46 $548.99
    25 $389.02 $571.86
    26 $404.58 $594.74
    Refer 2 27 $420.15 $617.61
    28 $435.71 $640.49
    29 $451.27 $663.36
    30 $466.83 $686.24
    31 $482.39 $709.11
    Refer 3 32 $497.95 $731.99

    • cooni on 13/07/2023 - 16:51
      +1

      If 15 spin chances are completed, based on the closing price on June 23, 2023, the total value of stocks:

      Minimum Value: US$60.15
      Average Value: US$394.45
      Maximum Value: US$3213

  • cooni on 13/07/2023 - 16:58

    https://www.moomoo.com/au/support/topic6_452?_ftsdk=16886032…

    This Promotion is valid from 01 July 2023 at 00:00 AEST to 31 July 2023 at 23:59 AEST (the ‘Promotion Period’) and is available only to new clients of Moomoo AU.

    5.Deposit AUD$5,000 into your Moomoo AU trading account to receive another 5 free additional chances to draw the prize (in total 15 free additional chances）

    Anyone who signed up earlier want to try depositing another $3k? See if you get more spins?
    Didn't get the $50 coupon towards my first trade though, so maybe not…

    • theguyrules on 13/07/2023 - 17:01
      +2

      I messaged them on WhatsApp to ask what will happen if I deposit $5k, as I've already withdrawn my $2k.

      • theguyrules on 14/07/2023 - 09:55
        +1

        Yep they said no extra spins for extra deposit

    • ULT on 13/07/2023 - 17:54
      +1

      I contacted support directly and they told me I was not eligible after they went straight to the internal promotions team. Only brand new accounts are eligible.

      • atlinus on 16/08/2023 - 06:42

        All 3 support i speak with have this thick chinese english accent which is difficult to understand over the phone though they were calling from a local australian number which i initially thought was a scam as i get all this chinese immigration calls and sms a lot of times.

  • bargainbus on 13/07/2023 - 17:52

    just wondering if this company provides the chess certificate title and if not what happens if the company goes bust?

  • Radiskull on 13/07/2023 - 20:02

    Does anyone have $5000 to lend temporarily?

    • idonotknowwhy on 14/07/2023 - 13:07
      +3

      Sure, I'll just need $150 up front for the bank to release the funds.

    • Bdawg on 14/07/2023 - 14:45
      +1

      I know a Nigerian prince that might be able to help.

  • andyroberts1 on 13/07/2023 - 20:32
    +1

    How long does the withdrawal process take?

    • ayum1 on 14/07/2023 - 02:28
      +1

      Opened my account at 2am, confirmed 5 minutes later, deposited 2k. deposit confirmed at 11am, access to share spins, request withdrawal of initial 2k deposit, withdrawal confirmed, initial deposit back in bank account at 9pm, shares received and sold at 12.30am. (entire process happened in a business day)

      • joelby on 14/07/2023 - 09:33

        How long did it take until the money from the shares you sold became available to transfer out? I'm still waiting!

        • Mallo on 31/07/2023 - 00:28

          I'm wondering this too, I sold my shares about two weeks ago and my available balance is still negative despite the positive cash balance.

  • RalphEddie on 13/07/2023 - 20:34

    How does this work from a tax perspective if I sell everything straight after getting it?

    • dalmaire on 13/07/2023 - 20:51
      +3

      From what I'm reading, the cost base of the shares will be the market value on the day that you received them.

      For example, if you got them today and the market value is $500, then you sold them tomorrow at $501.

      Sale proceeds $501
      less Cost base (at market value) $500
      = Profit on sale $1

      The $1 gets added to your tax return as assessable income.

      If you hold them for over 12 months, then you can halve the profit on sale with a 50% discount.

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