Stories on SmartSave: Share My Experiences?

Smartsave is not as fast as me since I'm quite actively monitoring my account.

So to me, I think I can do a much better job than smartsave.

Welp, if u are a lazy person, maybe smartsave will be suitable for u...

The manual pausing is very important if u wanna withdraw from moomoo account or do any currency exchange . (Welp, although now they had changed to default option auto pause 7 days if u do a manual redeem)

Also, the auto redeeming is kinda dumb since the calculation is not as accurate as me, eg. Moomo promo period... auto redeem will still continue to redeem extra amount that is not during the promo period...

By the way, auto redeem has no pause but is to deactivate, in which I don't recommend if u had activated/applied to smartsave already = kinda pointless.

1. All ur transaction history records are visible to moomoo usage during the maybe 1hr checking, legally (basically as good as showing ur underwear freely to all authorities employees in moomoo company). If u don't feel comfortable, I think smartsave may not be suitable for u .

2. Option with smartsave, it will not fully invest in the MMF. 50% of ur option value worth will be redeemed to ur trading account & locked up as collateral.

3. As mentioned above, currency exchange. Eg. u invested in MMF SGD but then u buy US stock, it won't auto do a currency exchange. If u think smartsave will do everything nice nice for u & u go yay yay , no need constantly monitor my account & then anyhow do trades with different currency, u may triggered a margin call/financing interest . However, I'd heard rumours from other users that smartsave will still auto redeem back the required amount of USD payment fees in SGD from the SGD MMF if u does not has enough USD MMF, no doing a currency exchange+still triggering a margin call/financing interest = u lost interest in SGD MMF + u still have to pay for maybe a financing interest/margin called if u failed to pay ur payment fee in USD trades.

4. Fresh fund deposit will get locked 🔒 up if ur smartsave auto redeem is still on the way back to ur trading account (become withdrawable) after u had done any trades for payment fees. So, if u have limited for emergency currency exchange, u have to plan very well before hand before any trades.

5. DO NOT deactivate auto redeem if u had already clicked activate/applied to smartsave+u do not know what u are doing=because it make no differences already. U won't know the god h3ll is their formula of margin of safety. Later triggered financing interest/margin call, then is not good liao ~ Just use pause smartsave .

6. Remember to resume smartsave if u did a manual redeem after u are done with whatever u need to do , so that u won't missed out idling in ur trading account before the 7 days paused=Manual redeem will auto pause for 7days, I think 🤔.

I criticised smartsave so much is because I'd very high expectation of it before applying/activating it. The promo advertising sound so attractive (Dam the 1.5k moomoo points promo bloody trap 🪤=) but later on, it does not turn out as how I expected it to be... = basically selling me a product that is not how it's supposed to be...

1. GTC with smartsave - The prototype of smartsave with GTC has serious issue previously. If it'd not been fixed that time after I complained about it, I may even considered of closing my whole moomoo trading account (one of the minimum requirement for me to activate smartsave). I preferred to control my account movements by myself & I valued my privacy alot .

They have to give me something good in return for the sacrificed of my 1hr privacy . If not, it's a no no .

2. Smartsave with option - 50% of option position value is idling in trading account as collateral... At 1st, they have advertised till smartsave is so good but forgotten that option has a margin of safety ... & due to their whatever own rules of safety, they don't allow 100% of idling cash in the MMF if u have an active option position. Feedback seem to be rejected , kinda disappointed in this as this is one of the reasons why I activate smartsave... (I want 100% idling invested in MMF with smartsave activated if there's an active option position) Welp, 50% is better than nothing, maybe for this, I still can close 1 eye 👁.

3. The withdrawable & non-withdrawable + smartsave auto redeeming (on the way back to trading account)+fresh fund locked up during this same period is super irritating = u may even lost 1 day of interest in MMF or whatever u are doing with the fresh funds...

The only good thing about smartsave to me is :

Without any of the 1st 2 points ☝️, smartsave is as good as trash 🗑 to me = instantly closed trading account . Moomoo is just a few inches these close 🤏 of losing 1 customer due to smartsave .