Less cash received?
I put a total of 1k, but after closure and cash coupon calculation, not sure amount is given is not even $1? it feels like a 'scam' reward to draw new users to the app?
if anyone is able to show how it's calculated do let me know
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1M65 : - interest fluctuate daily.
- moomoo will send to you the interest difference about 1week after promotion ends.
- so far quite constant for me..approx interest of about 3.7% +/-
- (amount put in (1K) X promotion rate (5.8%)) / 12 = total interest for the promo interest for the 1st month
LexusGOP : yeah I did that, but not even $1 after putting the amount. Personal option if had known, should have just put into stable ETF which earns way more than this sadly, and withdrawing all out now to put into another thing
Dadacai LexusGOP: Are you saying the coupon you received was less than S$1? 1000 wouldn’t get you much. The regular fund performance is about 10cts a day. The difference between this and 5.8%pa (around 15cts) will be given to you as a coupon.
Learner : Slow but gradual interest. I put 19k 1 week about 15.61.
Sometime more sometime less. Fix deposit is slightly higher. 10k for 1 year is about $500. But you cannot rotate your funds when you urgently need it.
j3rr3n LexusGOP: Expect about 0.01% a day currently
Thy GoD : Investments are % scaling and you are investing in a money market fund which usually is abt the same as bank deposit rates. (sg is abt 3-4%, us is abt 4-6%)
the 5.8% promo only gives you the difference, if your performance is already 3.7%(current rate), then you're not rlly getting much from the promo, it's not rlly a reward but more of an insurance (as they'll pay back any losses).
5% of 1000 is only $50, this is *per year*.
i forgot the duration but 50/12 is abt 4$ a month so you're not rlly going to expect much. (not to mention the amt from the promo will be even lesser as it's just insurance.)
DLTVFG : Not sure if you’re aware that the rates are ANNUAL rates just like banks. Assuming you kept it for 365 days, your return will be 58 approx for the whole year. Divide that by 365 will be your approx per day, about 15c.
Dadacai Thy GoD: I wouldn’t describe the promotion as an insurance as capital is not guaranteed. The return is on the daily holdings so if the capital decreases, there may be losses. It has not been tested what happens if the NAV becomes negative.
Thy GoD Dadacai: mb, they guarantee the added return but not the principal, which kinda makes more sense ig.
regardless you can't rlly lose much on money market funds.
1M65 : but I must say, perhaps it's your first time investing. with 1k of investment, you wouldn't get much returns in any investment (except crypto). high risk, high RTN.
your expectation is too high. need to be realistic
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