Great Initiatives
i think it is wonderful that Moomoo initiates such events to create awareness and financial literacy. not to mention that such cash giveaways are so helpful in encouraging us to invest wisely our hard earned money. however i just have one lingering doubt. as our custodian, how does moomoo endure that our money is protected? for example if the parent company were to face some future difficulties. i am not suggesting it will happen, but it will be good peace if mind for us to be aware how we can be protected. thank you moomoo!🙏
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Moomoo Lily : Hi Mooer, thank you for your acknowledgment and affirmation! @Moomoo Buddy Please assist. Thanks!
Moomoo Buddy : Dear customer, Moomoo SG is a financially sound brokerage licensed in Singapore. We are committed to comply with the relevant regulations to ensure the safety of clients' assets. Our customers' assets are held separately from Moomoo SG's own assets under the applicable laws/regulations. Meanwhile, your money is stored in a custodial account with DBS Bank Limited, and is kept separately from the company's money. Your money cannot be used other than for trading purposes instructed by you. Hope it clarifies, any further help needed, please feel free to contact us via Online service: APP>Me>Customer Service>Online Inquiry, or Customer service hotline: (+65)-6321 8888. Have a nice day!
taichimasterOP Moomoo Buddy: Thank you. That is most reassuring. I had expected there to be a custodial bank holding out monies in order to protect it.
Dadacai taichimasterOP: DBS is the custodian for cash but other assets will be held by other custodians. As for investments in unit trusts like Cash Plus, I was told they are kept with the fund house. Each unit trust appoints its own trustees.
taichimasterOP : Oh. Do you know who holds the equities, including the overseas markets?