* Moomoo July Bigger&Better Lucky Draw Rewards Terms and Conditions
The Moomoo July 2023 Bigger&Better Lucky Draw Rewards (the ‘Promotion’, the rewards issued in the Promotion hereinafter referred as "Welcome Rewards") is a trade 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 22 July 2023 at 00:01 AEST to 07 September 2023 at 23:59 AEST (the ‘Promotion Period’) and is available only to Eligible New Clients (as defined below) of Moomoo AU.
This Promotion is mutually exclusive with other new user promotions offered by Moomoo AU. By participating in this Promotion, the participant shall be deemed as waiving the eligibility to participate in other promotions offered by Moomoo AU.
By participating in this Promotion, the participant agrees to be bound by the Terms and Conditions herein contained, in addition to the Promotor’s Client Services Agreement, Privacy Policy, Website Terms of Use, and other Terms and Conditions applicable to account holders.
The Promotion is open only to Australian residents over the age of 18 who have not held any previous or existing trading accounts with Moomoo AU (due to local licensing issues, residents of South Australia are not eligible to participate in this Promotion) (each an “Eligible New Client”).
Each Eligible New Client must complete registration through the corresponding landing page to participate in this Promotion. New clients complete registration through other channels are not eligible to participate this Promotion.
Each Eligible New Client(and each electronic device such Eligible New Client 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 to obtain one set of Welcome Rewards during the Promotion Period. For avoidance of doubt, an Eligible New Client registered via different electronic devices will not be entitled to repeatedly obtain additional sets of Welcome Rewards.
Existing clients who have already opened accounts with Moomoo AU prior to the Promotion Period and intend to register for additional accounts during 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.
Complete any of the following actions within the Promotion Period to receive the corresponding Welcome Rewards:
1.Open a new Moomoo AU trading account ("Account") to receive free level 2 US market data and 180 days of brokerage-free trading on AU & US stocks and ETFs.
No commissions or platform fees will be charged on trades during the 180 days period while the following two offers are in effect, commencing from the date your Account is opened. Other pass-through fees, including but not limited to U.S settlement agency fees, SEC fees, FINRA trading activity fees, may still be charged depending on the financial products traded.
A. Commission-Free Offer will be automatically activated upon the date of Account opening with no further action required, and will be valid for 180 calendar days from when it is activated ("Validity Period").
B. Platform Fees Waiver Offer will be automatically activated upon the date of successful Account opening with no further actions required, and will be valid within the Validity Period. The platform fees will still be charged as normal during the course of trading, but reimbursed by every 15th of the following month. The GST payable to the Australian Taxation Office in connection to the platform fees will not be reimbursed.
Refer to our Financial Services Guide for our detailed pricing information;
2.Deposit any amount into your Moomoo AU trading account to receive an AUD$50 Stock Cash Discount Coupon("Stock Cash Coupon").
Stock Cash Discount Coupons are applicable to stock orders placed on your Account. After a client redeems a Stock Cash Discount Coupon, a stock purchase credit equal to the face value of such Stock Cash Discount Coupon will be added to the client's Account, and automatically applied to the client's next Eligible Buy Order (i.e. A buy-to-open order exceeding AUD $500 or equivalence only*) made within the Validity Period as set forth above. Whether the client can use a Stock Cash Discount Coupon depends on the order amount, product type, applicable market, and other conditions. Once the Eligible Buy Order is filled within the Validity Period, a cash amount of AUD $50 or equivalence will be credited to the client's Account balance. Please note that each Eligible New Client can use only one Coupon for each order, but Coupons may be used in conjunction with the Commission-Free Offer, if applicable.
*For avoidance of doubt, the Stock Cash Discount Coupon can be applied to an Eligible Buy Order filled in either the Australian market, Hong Kong market, or the United States market. The order amount of the Eligible Buy Order should exceed: (i) AUD $500 for Aussie share trading; or (ii) USD$365.728 for US share trading ; or (iii) HKD$2,860 for HK share trading. Accordingly, the respective maximum cashback amount is: (i) AUD$50; or (ii) USD$ 36.57; or (iii) HKD$286.
The cashback will be credited to the client's Account within three trading days after the Eligible Buy Order is completed. Clients can check the crediting progress via Trade > Brokerage Account > Funds Details in the moomoo app.
3.Deposit AUD$500 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 $500 or more during the subsequent 30 calendar days 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$500 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.
4.Deposit AUD$2,000 into your Moomoo AU trading account to receive 5 additional 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$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.
5.Deposit AUD$5,000 into your Moomoo AU trading account to receive 7 additional chances to draw gift shares from the prize pool (15 free chances in total）
The gift shares will be automatically allocated to your Account following 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 $5,000 or more during the Asset Maintaining Period commencing following 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$5,000 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.
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 1st of August, the Daily Average Asset Value, for purposes of this promotion, will be calculated from 2nd of August.
Assuming the Total Assets Values of each day of Asset Maintaining Period are as follows:
2 August: AUD$200
3 August: AUD$300
4 August: AUD$500
…
August 31：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)
TSLA US$274.43
AAPL US$190.68
GME US$22.71
LCID US$7.45
UA US$6.80
SABR US$3.35
The above indicative market price of each gift stock is based on the closing price on 07 July, 2023. The above market prices are indicative only. Prices of gift shares may fluctuate subject to market movements and, as a result, the value of the gift shares may change when they are allocated to your Account. The Promotor is not responsible or liable and shall bear no consequence for the price difference between the indicative prices and actual market prices the gift shares. The Promotor shall not give any declaration, compensation and/or be assumed any responsibilities, liabilities and consequences regarding the same. For avoidance of doubt, the exchange rate of US$ is based on the RBA official AUD/USD foreign exchange rate on July 07, 2023.
The probability of winning each stock is as follows:
TSLA 0.001%
AAPL 0.005%
GME 9.994%
LCID 30%
UA 30%
SABR 30%
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 15 spin chances are fully rewarded and redeemed, based on the closing price on July 07, 2023, the total value of gift shares are as follows:
Minimum Value: US$63
Weighted Average Value (based on above probabilities): US$117.25
Maximum Value: US$4116.45
For the above rewards #2-5, 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 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 of 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$5,000 for the first instance will be rewarded 15 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 $500 and claimed 3 spin chances, but then withdrew AU$100, your net deposit = AUD$500 - AUD$100 = AUD$400. If you wish to claim the additional 7 spin chances, you will need to deposit no less than AUD$1600.
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.
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 before making any investment decisions.
Participants may be liable for capital gains tax on the entire value of the shares when sold. This is dependent on each participant's personal circumstance and participants should seek advice from a tax professional. There may be other applicable taxes to consider. Participants are responsible for any tax consequences, if any, that may result from their redemption or use of the Promotion Rewards.
The Promotor shall not assume any liability to any losses incurred to any clients in connection with the Promotion, however arising, including but not limited to losses incurred from trading. Clients and Participants understand and accept that the Promoter shall have no legal or other liabilities relating to any aspect of the prize, including but not limited to its availability and quality. The Promoter shall not be liable for any loss or damage whatsoever which is suffered (including but not limited to indirect or consequential loss), as a result of taking or holding any of the prize.
The Promotor 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 and/or any applicable laws and regulations. In such cases, the Promotor's decision will be final and no further correspondence will be entered into.
The Promoter may in its sole discretion cancel, terminate, modify or suspend the Promotion and invalidate any affected entries, or suspend or modify a reward or prize, without prior notice or assuming any liability to any client(s), subject to state or territory regulations.
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.
The Promoter reserves the right to cancel or prolong the Promotion and to amend the Terms and Conditions of this Promotion at any time without prior notice. All interpretations of these Terms and Conditions shall be at the sole and absolute discretion of the Promoter, and in case of any dispute, the decision of the Promoter shall be final.
This Promotion is offered under NSW The Trade Permit number TP/01819.