Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top

Great news!!! Introducing moomoo Forex!

avatar
Moomoo SG wrote a column · Feb 22, 2023 00:19
0 commission and tight spreads from just 0.6 pips.
Moreover, you can enjoy up to US$200* rebate per month when you trade Forex!
Tap >>here<< to go to the event page for details.
Great news!!! Introducing moomoo Forex!
What's Forex?
Foreign exchange trading (also known as forex trading or foreign currency investment) refers to the conversion of one currency into another by individuals, enterprises, countries, etc. Forex margin trading is the most basic transaction form for individual investors to engage in forex trading.
After confirming the T&C provided by a forex broker, retail investors can open an investment account, deposit a certain amount as margin requirement, and then perform trades within the margin limit in the forex market.
Why Trade Forex: Advantages Of Forex Trading
a. Low transaction costs
i. The retail transaction cost (the bid/ask spread) is typically less than 0.1% under normal market conditions, whereas moomoo SG is offering from just 0.6 pips
ii. Moomoo SG does not charge any commissions or other fees. We only earn from the spread.
b. Low Barriers to Entry
i. Online forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of US$50, and moomoo SG is your preferred platform to trade Forex from US$50
ii. No fixed lot size for forex trading, and moomoo SG supports as low as 0.01 lots, approximately US$50
c. A 24-hour market
No waiting time for the opening bell, the forex market is open 24/5.
d. Deep Liquidity and No one can corner the market
The FX market is sufficiently liquid that significant manipulation by any single entity is all but impossible during active trading hours for the major currencies.
e. Leverage*
In forex trading, a small deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum -- --moomoo SG can offer 20x leverage
* Leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
Why trade Forex with moomoo SG
a. We offer competitive spreads
0 commission with ultra-tight spreads on all major currency pairs
b. Your money is safe and secure with us
MAS-licensed platform and segregated accounts to secure your assets
c. All-in-one app
Trade forex and a world of asset classes with moomoo
d. Fast and stable platform
Top-tier liquidity provider with a supreme straight-through-processing execution system
How to trade forex on moomoo SG?
You can trade forex just by following the three steps below,
1. Open a forex account
You are required to have a Moomoo universal account before you can open a forex account.
To open a forex account, you can:
a. search for a currency pair code, such as“EURUSD”, in the search box, and go to its quotes page;
b. tap the “Open Account” button in the bottom left corner of the page to open an account.
Great news!!! Introducing moomoo Forex!
2. Transfer funds
You can deposit or withdraw funds in or from your forex account only via“Cash Transfer”.
With “Cash Transfer”, you can transfer funds from your universal account to your forex account so that you can trade. The funds transferred will be posted to your account in real time, without any service fee.
To transfer funds, you can:
a. tap the “Trade” tab, select “Forex Account”, and go to the forex account page;
b. tap the “Cash Transfer” button to access the“Cash Transfer”page.
Great news!!! Introducing moomoo Forex!
3. Place an order
3.1 Place an order to open a position
You can open a position on the “Trade” page. To do so, follow the steps below:
● tap the “Trade” tab to access the forex account page, tap “Quick Open”, and enter a currency pair code;
● or go to the quotes page of a certain currency pair, and tap “Open” in the bottom left corner to access the “Trade” page;
3.2 Place an order to close a position
You can also close a position on the “Trade” page. To do so, follow the steps below:
● go to the quotes page of a certain currency pair, tap “Close” in the bottom left corner to access the “Trade” page, and select the position that you want to close;
● or select a certain forex position, and tap “Close” or “Take Profit/ Stop Loss” below to access the “Trade” page.
Disclaimer
*T&Cs apply.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). This advertisement has not been reviewed by the Monetary Authority of Singapore.
The risk of loss in leveraged foreign exchange trading can be substantial. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives.
No content herein shall be considered an offer, solicitation or recommendation for the purchase or sale of securities, futures, or other investment products. All information and data on the website are for reference only. Past performance does not guarantee future results. This promotion does not take into account your investment objectives, financial situation or financial needs.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
1
1
21
+0
6
Translate
Report
147K Views
Comment
Sign in to post a comment