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        Cash Plus Terms and Conditions - January to March 2024

        Promotion Period

        The Moomoo 2024 New Clients Rewards (hereinafter referred to as the ‘Promotion’, whereas the rewards issued in the Promotion are hereinafter referred to as " Welcome Rewards") is a promotion offered by Futu Securities (Australia) Ltd trading as Moomoo AU, ABN 51 095 920 648, AFSL 224663, of Suite 1701, Level 17, 570 George Street, Sydney (‘Moomoo AU’ or the ‘Promotor’). This Promotion is valid from 23 January 2024 at 00:00 AEDT to 31 March 2024 at 23:59 AEDT (the ‘Promotion Period’) and is available only to existing clients of Moomoo AU.

         

        Eligibility

        • This Promotion is only open to Australian residents over the age of 18 who have not held any previous or existing trading accounts with Moomoo AU (each an “Eligible New Client”). Due to local licensing issues, residents of South Australia are not eligible to participate in this Promotion.

        • Each Eligible New Client must complete registration through the corresponding landing page to participate in this Promotion. New clients who complete registration through other channels are not eligible to participate in this Promotion.

        • Each Eligible New Client, and each electronic device used to register and open an account with Moomoo AU, regardless of mobile or computer, is only entitled to participate once in the Promotion and obtain one set of Welcome Rewards during the Promotion Period.

        • Existing clients who have already opened an account with Moomoo AU prior to the Promotion Period are not eligible to participate in the Promotion.

        • Eligible New Clients who register for new accounts outside of the Promotion Period are not eligible to participate in this Promotion.

         

        Reward Rules

        Complete any of the following actions within the Promotion Period to receive the corresponding Welcome Rewards:

        A. Cash Plus Introductory Offer

        (1) How it works and How to Participate

        • Eligible New Clients who successfully open a Moomoo AU Account and complete Enrolment in the Cash Plus program by clicking on the "Enrol Now" button on the Cash Plus information webpage and following the prompts to read and complete the consent form are eligible to receive 6.8% p.a. Introductory Rate in substitution for the Base Rate, for a period of 180 calendar days, however only applicable to uninvested cash balance of up to AUD $100,000 or equivalent. Uninvested cash balances in excess of this amount during the 180-day period and all uninvested cash balances outside of the 180-day period will accrue interest at Base Rate.

        (2) Introduction and Additional Notes of Cash Plus Introductory Offer

        Introductory Rate: fixed rate of 6.8% p.a. for a period of 180 calendar days. Assuming daily uninvested cash balance is maintained at exactly AUD $100,000, the maximum interest paid during the 180-day period is AUD $3,353.

        Base Rate: variable rate currently 3.75% p.a.

        Clarifications regarding the maximum uninvested cash balance applicable to Introductory Rate:

        For avoidance of doubt, the maximum cash balance of AUD$100,000 (or equivalent) is applicable to the combined total cash balance in AUD and USD. For ease of calculation, a fixed FX reference rate of 1 AUD = 0.65 USD is used in calculating the AUD equivalent of USD cash balance. Where a client has uninvested cash balances in both currencies with a combined total amount larger than AUD$100,000, the AUD cash balance will have priority to be accounted in the maximum cash balance applicable to Introductory Rate.

         

        Example 1: If the customer holds cash assets of AUD 150,000 and cash assets of USD 50,000, the interest of AUD 100,000 will be calculated at 6.8%, and the remaining cash assets of AUD 50,000 and USD 50,000 will be calculated at a basic interest rate of 3.75%p.a.

         

        Example 2: If the customer holds cash assets of AUD 35,000 and cash assets of USD 50,000, the interest on the AUD 35,000 assets is calculated at 6.8%, and USD 42,250 is converted into the equivalent of AUD 65,000 at a fixed exchange rate of 0.65, calculated at 6.8% Interest, the remaining US$7,750 is calculated at a basic interest rate of 3.75%p.a.

         

        Example 3: When a customer holds cash assets of AUD 20,000 and cash assets of USD 10,000 today, the interest on cash assets in both currencies is calculated at 6.8%; when the user deposits AUD 80,000 on the second day, then cash assets of AUD 100,000 are calculated at 6.8%. The interest on assets is calculated at 6.8%, and the cash assets of US$10,000 are calculated at a basic interest rate of 3.75%p.a.

         

        Available Currencies: Australian Dollar (AUD) and US Dollar (USD)

         

        Fixed FX Reference Rate: 1 AUD = 0.65 USD

         

        Daily interest accrual cut-off period:

        Funds deposited during the 24 hours from AET 12:00 on T-1 to AET 12:00 on T day will be included in the uninvested cash balance calculation on T-1 day. Funds deposited after AET 12:00 on T day will be included in the uninvested cash balance calculations on T day . Where a Client with existing uninvested cash balance in their Moomoo AU Account completes Enrolment in the Cash Plus program, the Client's uninvested balance will begin accruing interest on the same day if the Enrolment is completed by 11:59AM AET on that day (T+0). If Enrolment is completed on or after mid-day (12:00PM AET), the Client's uninvested balance will begin accruing interest on the next day (T+1).

        Daily income calculation formula: Daily Interest = Uninvested cash balance (up to AUD $100,000) * 6.8%/365

         

        Income display: Participating New Clients and Existing Clients can find [Cash Balance], [Total Income], [Yesterday’s Income], and Accrued interest this month] on the activity page, after completing the Enrolment process through the Cash Plus acticity page. Distribution rules: The interest distribution for the previous calendar month shall be completed within 7 working days at the beginning of each calendar month.

        Tax consequences: Interest distributed in the Promotion and the Cash Plus program are taxable income which may attract tax consequences. This is dependent on each client's personal circumstances and clients should seek advice from a tax professional if necessary. There may be other applicable taxes to consider. Clients are fully responsible for any tax liabilities, if any, that may arise from interests distributed into their accounts.

        Withholding tax: Clients who have not provided their TFN to Moomoo AU may be subject to 47% tax withholding on the interests when they are paid. The amount we withhold will be paid to the Australian Taxation Office. To declare your TFN to Moomoo AU and the ATO, simply navigate to "Accounts" tab - "More" - "Account Profile" and "Modify" under the "Tax Information" section at the bottom.

        Additional notes:

        1. For purpose of the Cash Plus program, "uninvested cash balance" is defined as the funds immediately available for withdrawal recorded at 12:00 AET daily cut-off times for interest accrual. On the daily and monthly account statements delivered to clients, this figure is displayed as "Ending Settled Cash" under the Cash section.

        2. If the uninvested cash balance returns to zero during the interest accrual period due to reasons such as settlement of trades and/or withdrawal of funds, interest accrual will also stop from the same day (T+0).

        3. The following actions (including but without limitation) will reduce uninvested cash balance in the account:

          a.Having in-market pending orders, which freezes part of the cash balance equivalent to consideration of the orders;

          b.Having executed orders on T day for settlement on T+2, which removes part of the cash balance equivalent to consideration of the orders on T day for ahead of settlement;

          c.Confirming participation in corporate actions which will result in payment of cash;

          d.Submitting a funds withdrawal request prior to the daily cut-off time;

          e.Any other actions and/or items which result in debiting of cash balance, including deductions of fees and charges.

        4. Moomoo AU is required by law to obtain clients' agreement and instructions before investing or handling client money to earn interests. If an Eligible New Client completes account opening and deposits but fails to complete the Enrolment process through the Cash Plus information webpage, Moomoo will not have the proper authorisation in place to handle the New Client's funds accordingly to earn interest. In such scenario, the accrual of daily interest will NOT commence until the New Client completes the Enrolment process;

        5. Where a Client completes Enrolment in the Cash Plus program for the first time, if the Enrolment is completed by 11:59AM AET, the interests start to accured on the date of Enrolment(T+0) and you can see such interest earnings within Moomoo App on the next day of the Enrolment; If Enrolment is completed on or after mid-day (12:00PM AET), you can start to accured on the next day of Enrolment (T+1), and you can see the previous' day 's earning within Moomoo APP on the third day of the Enrolment.

         

        (3) FAQs

        1.What is Cash Plus?

        Cash Plus is a cash management program offered by Moomoo AU to Australian clients. Moomoo AU holds client funds in designated client trust accounts held at Commonwealth Bank Australia and HSBC Bank Australia, which are fully segregated from Moomoo AU's own funds. Moomoo AU passes part or all of the interests earned on uninvested client funds on to its clients.

         

        2.How can the Cash Plus Introductory Offer interest rate (6.8%p.a.) be higher than most bank deposits?

        To reward our clients for their ongoing support and to attract new clients to experience our products and services, we subsidise part of the 6.8%p.a.* introductory rate paid on uninvested cash balances for eligible new clients participating in the cash management program for a limited period of 180 days (applicable only to uninvested balance of up to AU$100,000 per client; see the T&C https://www.moomoo.com/au/support/topic6_428 for full details). All uninvested cash balances outside of the 180-day period will continue to earn a standard variable rate of 3.75%. Moomoo is a fully-owned subsidiary of NASDAQ-listed Futu Holdings (NASDAQ:FUTU), whose financial records are fully transparent and publicly available. We are licensed and regulated in Australia (AFSL 224663) as well as other major markets including US, Hong Kong, Singapore, Japan and Canada, and are leading retail securities broker-dealers in Hong Kong and Singapore (by market share). We have robust internal systems and processes in place to ensure client funds security.

         

        3.How do I receive Cash Plus earnings?

        The income earned from the Cash Plus program is accrued daily and will generally be paid to your account at the beginning of next month. Refer to this page https://invest.au.moomoo.com/welcome_rewards to keep track of your total Cash Plus earnings.

         

        4.Will it affect my buying power?

        No. Your buying power is unaffected when participating in the Cash Plus program. The cash balance swept to the bank/s will still be considered as part of your account's buying power.

         

        5.How is Cash Plus' accumulated interest calculated? Where can I find my accumulated interest?

        Moomoo's Cash Plus deposited from AET 12:00 on T-1 to AET 12:00 on T day will be included in the asset interest on T-1 day, and after AET 12:00, they will be included in the asset interest on T day.The cash balance is the cash withdrawable amount. Any cash held under pending orders and unsettled orders is not entitled to interest. You can see your accumulated interest on the landing page here. Please book mark this as this is updated dynamically every day(Updated daily after 22:00 Australian Eastern Time). You will also be able to check your accumulated interest when we distribute interest to you at the end of the month. Interest is calculated daily and distributed monthly to your trading account as cash .

         

        B. About the Draw Chance and Gift Shares Offer

        (1) How it works and How to Participate

        1. Deposit AUD$100 into your Moomoo AU trading account to receive 3 chances to draw random gift shares from the prize pool

        • The gift shares will be automatically allocated to your Account upon usage of draw chances, but initially in a ‘frozen’ status;

        • Gift shares in a 'frozen' status are not included in the Account's portfolio market value, and cannot be sold on market;

        • The allocated gift shares will remain 'frozen' until you have maintained your Daily Average Asset Value (as defined and calculated pursuant to the following section of "Calculating the Daily Average Asset Value") of AUD $100 or more during the subsequent 30 calendar day period from the date of allocation (the "Asset Maintaining Period");

        • To allow for profits or losses due to market fluctuations, a drop of the Average Assets value of up to 20% below the AUD$100 threshold is permissible;

        • The allocated gift shares' 'frozen' status shall only be lifted upon meeting all the above mentioned conditions and within 5 business days following the 30-day Asset Maintaining Period;

        • If you fail to meet with any of the conditions as mentioned above, the gift shares will be removed from your Account within 7 calendar days following the end date of any of the Asset Maintaining Period.

         

        2. Deposit AUD$2,000 into your Moomoo AU trading account to receive 7 additional chances to draw random gift shares from the prize pool (10 free chances in total)

        • The gift shares will be automatically allocated to your Account upon usage of draw chances, but initially in a ‘frozen’ status;

        • Gift shares in a 'frozen' status are not included in the Account's portfolio market value, and cannot be sold on market;

        • The allocated gift shares will remain 'frozen' until you have maintained your Daily Average Asset Value (as defined and calculated pursuant to the following section of "Calculating the Daily Average Asset Value") of AUD$2,000 or more during the Asset Maintaining Period commencing from the date of allocation;

        • To allow for profits or losses due to market fluctuations, a drop of the Average Assets value of up to 20% below the AUD$2,000 threshold is permissible;

        • The allocated gift shares' 'frozen' status shall only be lifted upon meeting all the above mentioned conditions and within 5 business days following the 30-day Asset Maintaining Period;

        • If you fail to meet with any of the conditions as mentioned above, the gift shares will be removed from your Account within 7 calendar days following the end date of any of the Asset Maintaining Period.

         

        3. Other Additional Notes

        • For gift shares rewards, spin chances are awarded automatically when the respective deposit conditions outlined above are met, and will expire in 30 calendar days from the date when they are awarded if not used (by clicking the ‘Spin’ button on the promotion page within the Moomoo App or desktop trading platform). Shares available in this Promotion upon satisfication of the above condtions are issued to the client’s Moomoo AU trading account and such shares will not expire and will remain on the client’s Moomoo AU account until sold, transferred, or removed due to failure to meet the 'unfreeze' conditions as set forth above.

        • The shares allocated in this Promotion are determined via an algorithm at the time the Eligible New Client uses the spin chance. Clients will be notified on what shares they have won immediately when it is determined by the algorithm. The allocation of shares to their trading account shall take place within the next 5 business days after clients are notified.

        • Clients who make deposits of an amount larger than AUD$2,000 for the first instance will be rewarded 10 free spin chances at once.

        • The deposit amount requirements for the purpose of this Promotion refers not net deposits. Net deposit is calculated by deducting the total withdrawal amount during the Promotion Period from the total deposit amount during the Promotion Period. For example, if you made a deposit of $100 and claimed 3 spin chances, but then withdrew AU$50, your net deposit = AUD$100 - AUD$50 = AUD$50. If you wish to claim the additional 7 spin chances, you will need to deposit no less than AUD$1950.

         

        (2)Calculating the Daily Average Asset Value

        For the purpose of determining the abovementioned conditions of lifting the “frozen” gift shares, the "Daily Average Asset Value" in your Account shall be calculated on the following basis:

        • The Daily Average Asset Value equals to the average of your Total Assets Values (as defined below) during the 30-day Assets Maintaining Period. The formula will be : Daily Average Asset Value=(Total Assets Value of day 1+Total Assets Value of day 2+ Total Assets Value of day 3+....+Total Assets Value of day 30)/30

        • The Total Asset Value of a day equals to a combined value of the cash balance that day and market value of holdings (excluding all of the gifted shares) calculating based on the closing price of such holdings as at the end of that day's regular trading sessions.

        • The 30-day Asset Maintaning Period will commence from the next calendar day following the date of allocation of the gifted share.

         

        For example, if you draw your gift shares on 24 January, the Daily Average Asset Value, for purposes of this promotion, will be calculated from 25 January.

        Assuming the Total Assets Values of each day of Asset Maintaining Period are as follows:

        25 January: AUD$200

        26 January: AUD$300

        27 January: AUD$500

        24 February:AUD$1,000

        Then the Daily Average Asset Value = AUD$(200+300+500+……+1,000)/30

         

        Shares included in the prize pool are: Tesla Inc. (NASDAQ: TSLA), Apple Inc. (NASDAQ: AAPL), GameStop Corp (NYSE: GME), Lucid Group, Inc.(NASDAQ: LCID), Under Armour(NASDAQ: UA), Sabre(NASDAQ: SABR)

         

        Stock PickerPrice (USD)Price (AUD)
        TSLA248.42362.69
        AAPL185.64271.03
        GME16.6724.34
        LCID4.156.06
        UA8.2312.02
        SABR4.276.23

         

          The above indicative market price of each gift stock is based on the closing price on 01 January 2024. The above market prices are indicative only. Prices of gift shares may fluctuate subject to market movements and, as a result, the value of the gift shares may change when they are allocated to your Account. The Promotor is not responsible or liable and shall bear no consequence for the price difference between the indicative prices and actual market prices the gift shares. The Promotor shall not give any declaration, compensation and/or assume any responsibilities, liabilities and consequences regarding the same. For the avoidance of doubt, the exchange rate of US$ is based on the RBA official AUD/USD foreign exchange rate on 01 January, 2024.

         

        The probability of winning each stock is as follows:

        TSLA 0.001%

        AAPL 0.005%

        GME 9.994%

        LCID 40%

        UA 10%

        SABR 40%

         

        The gift shares obtained in this Promotion will be issued randomly based on the computer system, and the final winning result is randomised and is not predictable. The Promoter provides no guarantee, promise or warranty on the category, number or value of the stock obtained in each spin chance by New Eligible Clients, and shall not bear any liability, claim or consequence regarding the winning results.

         

        If all 10 spin chances are fully rewarded and redeemed, based on the closing price on 01 January, 2024, the total value of gift shares are as follows:

        Minimum Value: US$42.7

        Weighted Average Value (based on the above probabilities): US$113.4

        Maximum Value: US$4116.45

         

        Other Terms and Conditions

        1. The 6.8% Cash Plus Introductory Offer Promotion (the "Promotion") is available to Eligible New Clients who hold an account with Moomoo AU (collectively as "Clients") pursuant to these Terms and Conditions. It is not available, and not advertised to the general public.

        2. This Promotion are provided by Futu Securities (Australia) Ltd. (hereinafter referred to as "Moomoo AU"), a wholly-owned subsidiary of Futu Holdings Limited. In Australia, investment products available on moomoo are offered by Moomoo AU which is regulated by the Australian Securities and Investments Commission(ASIC). The moomoo App is a trading platform offered by Moomoo Inc., a wholly-owned subsidiary of Futu Holdings Limited.

        3. Investing and/or trading in securities markets carry risks and may not be suitable for all investors. Clients willing to participate in this Promotion must read and understand the Financial Services Guide, Risk Disclosure Statements and other disclosure documents which are available on the website (www.moomoo.com/au) before making any investment decisions.

        4. Clients on each participant's personal circumstance and participants should seek advice from a tax professional. There may be other applicable taxes to consider. Clients are responsible for any tax consequences, if any, that may result from their participant of this Promotion.

        5. Moomoo AU strictly prohibits any existing customer from sharing, selling or otherwise promoting their referral link(s) on public domains, including social media platforms that are open for public viewing. Existing customers are reminded that such actions are likely a violation of relevant Australian financial services laws and regulations, which may attract legal consequences. Moomoo reserves the rights to take further actions against the relevant Clients should any such activities are identified, including but not limited to:

        • Termination or suspension of the Moomoo AU Accounts held by relevant Clients invited by such existing customers ;

        • Removal of any allocated or unallocated promotion rewards from the Moomoo AU Accounts held by C Clients, at the expense of the account holder(s);

        • Disqualify relevant Clients from participation in any future promotions or events;

        • Make corresponding reports of misconducts or violation of relevant laws or regulations to regulators, including ASIC.

        6. A text message or e-mail containing relevant information about the Promotion will be sent to participants. If you want to turn off notifications, you can go to "Settings - New Message Notifications - Cancel Notifications" on the moomoo App.

        7. At its sole discretion, Moomoo AU reserves the right to cancel, terminate, modify or suspend this Promotion and invalidate any affected participations, or suspend or vary a reward, without any further notice or assuming any liability to any person(s).

        8. You can only open one trading account with us and are required to agree to all existing terms and conditions in the Client Services Agreement , as well as all the terms and conditions of this Promotion, or any other promotions or events. If your securities account shows signs of fraud, abuse, or suspicious activity, e.g. including but not limited to registering multiple accounts using the same device, Moomoo AU may, at its sole discretion, cancel your rewards and limit your eligibility to participate in future promotions.

        9. Each device, mobile or desktop, is only entitled to one set of account-opening rewards, deposit rewards, and referral rewards. A user can only be referred once. Using the same moomoo ID, phone number, or device will all be regarded as a single user.

        10. This event is not available for users on the "Moomoo AU Event Participation Ban List". If a user repeatedly violates Moomoo AU's safety rules, the user will be put on the "Moomoo AU Event Participation Ban List".If you need to know more about the list, you can contact the customer service team of Moomoo AU.

        11. This Promotion is not an offer, recommendation or solicitation for the purchase or sale of any securities. It is not intended to be, nor does it constitute any form of financial advice.

        12. Moomoo AU shall not assume any liability to any financial or non financial losses incurred to any persons in connection with the Promotion, however arising, including but not limited to losses incurred from trading.

        13. Moomoo AU reserves the right, in its sole discretion, to refuse to allocate any or all of the above benefits if it believes that the client is ineligible to participate in the Promotion, or that the client is engaging in, has engaged in, attempted or caused to engage in activities in violation of the Terms and Conditions. In such cases, Moomoo AU's decision will be final and no further correspondence will be entered into.

        14. Moomoo AU has the final right to interpret these terms and conditions. The data and data confirmed of this Promotion shall be subject to confirmation by Moomoo AU's back-end data. In case of any disputes, Moomoo AU reserves the right to make the final decision without any further notice.

        15. The Terms and Conditions are written in both Chinese and English. In the event of any discrepancy between the Chinese version and the English version, the English version shall prevail.