Moomoo Singapore Holds Virtual Stocks Trading Contest in Aid of Make-A-Wish Foundation
- Singapore's preferred one-stop digital brokerage has organised a paper trading competition and educational talks throughout October to promote financial literacy and mark its 10th anniversary
- Moomoo Singapore to donate S$1 to Make-a-Wish Foundation for each participant that signs up for the paper-trading competition.
SINGAPORE, Oct. 3, 2022 /PRNewswire/ -- Moomoo, Singapore's preferred one-stop digital brokerage, is holding a virtual paper-trading competition as part of its efforts to equip investors with the knowledge and confidence needed to make sound investment decisions and, take control of their financial future.
Paper trading simulates trades, allowing investors to practice buying and selling without risking real money. The competition kicked off on 26 September 2022 and will conclude on 21 October 2022.
Details are as follows:
- Participants are given US$200,000 in virtual capital to start trading on US-listed stocks
- Winners with the highest profits stand to win prizes of up to S$1,888 in cash coupons
- Moomoo Singapore will be donating S$ 1 to the Make-A-Wish Foundation for every sign-up to the competition, capped at S$ 20,000
Moomoo Singapore, wholly owned subsidiary of Nasdaq-listed Futu Holdings Limited (NASDAQ: FUTU) is the first digital brokerage to receive five memberships from the SGX Group for the securities and derivatives markets. The group is marking its 10th anniversary with a series of events to promote financial literacy so that more people will have the skills and confidence to plan their finances.
In a recent survey by the company, a lack of financial knowledge and confidence were among the reasons cited by respondents for not investing, even though investing was seen as one of the best ways to preserve the value of their wealth amid rising inflation.
"At Moomoo Singapore, we believe that financial literacy is an essential life skill that everyone should have, regardless of their starting point," said Gavin Chia, Managing Director of moomoo Singapore. "By holding events like the paper trading competition along educational talks, we hope that more people can gain the knowledge and confidence to make smart money decisions."
Moomoo Singapore held a five-day investment learning camp and talks for tertiary students in September. The company is currenly hosting a series of "Lunch & Learn" talks at JustCo offices aimed at working adults. Investors can also access almost 2,500 courses and resources like real-time quotations, charting, analysis, and news on the moomoo platform to help them make their better investment decisions.
About Moomoo Financial Singapore Pte. Ltd.
Moomoo Financial Singapore Pte. Ltd. (Moomoo SG) is a wholly owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU), which is an advanced financial technology company transforming the investing experience by offering a digitised platform and wealth management platform- moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds social media tools to provide connectivity to all users, investors, companies, analysts, media and key opinion leaders.
In Singapore, Moomoo Financial Singapore Pte. Ltd. (www.moomoo.com/sg) offers investment products for trading via the moomoo platform, and it is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, Moomoo SG became the first digital brokerage in receiving five memberships from the SGX Group for the securities and derivatives markets.
Appendix A: Event Details
moomoo in-app paper trading competition: 26 September to 21 October 2022
How to play?
Each participant will be given an initial virtual capital of USD 200,000 to trade on US market stocks between 26 September and 21 October. Participants are also entitled to access the in-app DIY educational model and have an opportunity to join a 5-day online investment learning camp to learn how to invest.
Find out more about the paper trading competition here and download the app here.
Prizes for winners
- 1st prize: S$1888 cash coupon
- 2nd prize: S$888 cash coupon
- 3rd prize: S$388 cash coupon
- 4th to 20th place: S$50 stock coupon
- 21st to 50th place: S$20 stock coupon
- 51st to 100th: S$20 Huggs café digital voucher
Small target rewards:
- Participation in the competition: 50 reward points
- Daily activity (min. one paper trade): 20 reward points
- 7-day streak: 500 reward points
- Weekly leader: 8888 points
Lunch & Learn Events
How to Invest to Fight Inflation
7 Oct 2022, 12pm JustCo Marina One East Tower
Speaker: Gerald Wong, Founder & CEO, Beansprout
Is Cash King in Times of Inflation?
14 Oct 2022, 12pm, WeWork Collyer Quay
Speaker: Sam Ye, Vice President (Business Development), Fullerton Fund Management
How to build your investment portfolio to fight inflation
21 Oct 2022, 12pm WeWork Battery Road
Speaker: Chew Hock Beng, Financial Consultant
Here is the agenda for each Lunch & Learn event:
- 12pm to 12.45pm - Seminar
- 12.45pm to 2pm - Lunch & Networking*
*Complimentary lunch buffet will be provided.
Register for the events here.
The moomoo app also provides users with educational resources and tools to users
"moomoo Learn" within the app provides tutorials covering a wide range of topics like stocks, funds, ETFs, options, and more for both beginners and seasoned investors.
To date, moomoo Learn has helped more than 900,000 learners gain financial knowledge and unlock investing skills.
Source: Moomoo Financial Singapore Pte Ltd. Related Stocks: NASDAQ:FUTU
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