2th Global Paper Trading Competition, Share prize pool of US$200,000 Trading Cash Coupon

1. Event Period

From October 13, 2025, 00:00:00 SGT to November 22, 2025, 05:00:00 SGT.

 

2. Eligibility

All moomoo users

 

3. Prizes and Awards

3.1 Papertrade Personal Challenge: Get Tokens and Redeem Trading Cash Coupon!

After signing up for this competition, participants may earn Tokens by completing designated tasks within the Paper Trading Challenge. These tasks include, but are not limited to: executing options paper trades, achieving positive weekly returns, and completing other qualifying activities as specified on the event page. All of the challenge tasks and their respective point values will be exclusively determined by the criteria published on the official event page.

3.1.1 Rewards:

1. "Tokens" that meet the requirements can be exchanged for "Trading Cash Coupons".

Tokens	Rewards (Trading Cash Coupon in USD）
500	$5
1500	An extra $10 (Total: $15)
3000	An extra $35 (Total: $50)
5000	An extra $150 (Total: $200)

2. The total $200,000 prize pool for all regions will be distributed weekly on a first-come, first-serve basis until all funds are claimed. The prize pool will be unlocked gradually over six redemption rounds. The reward redemption period is from 00:00:00 on October 13, 2025 SGT to 23:59:59 on November 30, 2025 SGT.

3.1.2 Avatars：

During the event, participants can unlock avatars by completing the following tasks:

Complete a paper trade: Unlock the "Trading Star" avatar.

Achieve a positive weekly P/L % : Unlock the "All-Weather Trader" avatar.

Rank top 20% in Global Weekly P/L % in any week : Unlock the "Market Wizard" avatar.

Once you unlock an Avatar, you get a 60-day trial period. The trial period starts from the moment of unlock and is displayed on the page. You can set Avatars in the "Me" -> "Profile Picture" section. If you want to switch avatars for your P/L posts, you need to become the Moomoo Membership.

3.2 Global winners:

Participants who achieve positive cumulative returns and rank among the top 3 globally shall receive the following rewards:

1st Place: US$10,000 in Trading Cash Coupon

2nd Place: US$3,000 in Trading Cash Coupon

3rd Place: US$1,000 in Trading Cash Coupon

Total P/L = [(Net Asset Value After the End of the Competition / Initial Net Asset Value of the Competition Account) – 1] * 100%

The competition will be settled based on the closing prices at 4:00pm ET on the final day. Profits and losses from after-hours trading on the final day will not be included in the competition results or rankings.

The official leaderboard will be updated and confirmed after 00:00:00 November 26.

During the competition, the latest holdings of the top 3 users will be updated and displayed on the page in real-time.

Additional Rewards:

• The top 3 global users will receive a trophy co-presented by Nasdaq and Moomoo.

• The top 10 users in each region will receive a certificate co-presented by Nasdaq and Moomoo.

Our staff will contact the winners after the competition regarding specific award arrangements.

3.3 Times Square, Nasdaq Tower video:

During the six-week period, participants who achieve positive weekly returns can sign up for the opportunity to be featured in a video broadcasted at Nasdaq Tower. Selected users will receive official invitations to submit visual materials for a promotional video featured on Nasdaq's iconic billboard in Times Square, New York. The specific selection criteria are subject to the detailed rules.

 

4. Trading Terms 

1. Trading Scope

• The trading securities permitted in this competition are limited to US stocks, ETFs, and options.

2. U.S. Market Trading Hours

• Trading is supported during the following sessions: pre-market, regular market hours, and after-market (4:00 AM to 8:00 PM Eastern Time).

3. Account Attributes

• Initial Account Balance: 100,000 USD

• Margin and Short Selling: The account supports margin trading and short selling.

• For long positions: Initial margin requirement is 50%, with a maintenance margin of 40%.

• For short positions: Initial margin requirement is 60%, with a maintenance margin of 50%.

• Interest Rates:

• Short selling interest is calculated at an annual rate of 6%.

• Margin trading interest is calculated at an annual rate of 4.8%.

• Interest is charged daily after the market closes.

4. Trading Order Restrictions:

• To ensure the competition's professionalism and fairness:

• Trading of stocks priced below $1 is prohibited.

• Trading of stocks with a market capitalization of less than $500 million, as well as their options, is prohibited.

• Order Limits:

• Maximum of 200 orders per day (excluding cancellations and modifications).

• Maximum of 100 positions held at any time.

• The holding of any single stock is limited to 40% of the total account assets. However, if this limit is exceeded due to stock price fluctuations or option exercises, no action is required.

5. Risk Control Rules:

• During trading hours, if the account's remaining liquidity falls below zero, forced liquidation will be triggered.

6. Option Exercise Rules:

• After the market closes, the paper trading system will automatically exercise In-the-Money (ITM) options expiring that day.

• If sufficient funds are available, the underlying assets will be bought or sold accordingly.

• If funds are insufficient, the simulation will cover the difference in option profit.

• Out-of-the-Money (OTM) options expiring that day will be voided after the market closes.

• Index options and stock options will use the intraday closing price on the exercise date as the exercise settlement price

7. Corporate Actions:

• The competition supports only the following corporate actions: dividends, stock splits, reverse splits, and ticker symbol changes. Other corporate actions are not supported.

• If a company is delisted for any reason, participants will be unable to trade that stock in subsequent competition days. The system will credit the participant's account with the stock's last closing price on the second business day following the delisting.

• Corporate action data may be delayed due to dependencies on upstream sources. If such delays affect participant rankings, the paper trading system will make efforts to rectify the issue to ensure fairness.

8. Order Matching Rules:

• The matching of simulated orders takes into account the actual trade-by-trade volume from the real market.

• Even if the order price is suitable, without corresponding trade volume, the order will not be executed.

• If the actual trade volume is less than the order volume, only the available trade volume will be matched, and the remaining portion of the order will remain in the queue awaiting further matching.

9. Fees:

• Stocks:

• Commission: 0

• Platform fee: $0.99 per order.

• Trading Activity Fees: $0.000166 per share, maximum $8.30 per order (charged only on sell orders)

• Options:

• For options with a premium greater than $0.10: $0.65 per contract.

• For options with a premium less than $0.10: $0.15 per contract.

• Minimum commission of $1.99 per order.

• Commission:

• Platform fee: $0.30 per contract.

• Trading Activity Fees: $0.00279 per contract.

• Options Regulatory Fees: $0.015 per contract.

10. Competition Settlement Rules:

• Competition results will be calculated based on the prices of the regular trading session on the last day of the competition. After-hours trading will not be included. For options that expire on the last day, the value resulting from their exercise or assignment will be included in the final P&L and rankings. Weekly P&L data is updated after 10:00 PM ET on Fridays.

• Weekly return = (This week's closing net asset value - Last week's closing net asset value) / Last week's closing net asset value. Weekly P/L% is calculated based on closing data as of 10 PM ET each Friday.

11. Prop Cards:

• Reset Card: If the account's virtual assets are insufficient for further trading, using this card will restore the account's initial virtual funds. Each participant may only use the revival card once during the competition.

12. Tiebreaker:

• If multiple participants achieve the same return rate, their ranking will be determined by the order of their registration time for the competition.

13. Cheating:

• Any form of cheating or exploitation of system vulnerabilities to generate profits will result in disqualification from the competition.

14. System Disclaimer:

• The simulation system is provided by moomoo. In the event of discrepancies between the simulation and the real market, the simulation system shall prevail. The use of the simulation system is free of charge, and any deducted trading fees are virtual and do not involve real financial expenditure.

 

5. Reward Rules

1.Papertrade Personal Challenge

If you successfully redeem a reward on the event page, the corresponding Trading Cash Coupon will be issued to your account and can be viewed in the app under "Coupons". There are a total of four reward denominations: 5,10,35, and 150. Each denomination can win a maximum of once.

Detailed rules:

• You can use the Trading Cash Coupon when buying US stocks and Singapore stocks (or ETFs) (buy order amount ≥ US$5). After using it, you will receive an amount equal to the value of the Trading Cash Coupon. The amount will be credited to the relevant securities account within three trading days after the order is completed.

• During the validity period, the Trading Cash Coupon will automatically match the first qualifying trading order (only for opening buy orders), with conditions including order amount, trading category, applicable market, etc. Cashback will be received upon completion of a qualifying trade order within the validity period of the Trading Cash Coupon.

• Only one Trading Cash Coupon can be used per order. Commission coupon stacking is supported during trading.

• The Trading Cash Coupons are valid for 30 days from the day of receipt.

2. Global winners

The rewards will be distributed after the event ends.

Reward details:

Global Top 1: US$10,000 in Trading Cash Coupon

Global Top 2: US$3,000 in Trading Cash Coupon

Global Top 3: US$1,000 in Trading Cash Coupon

Detailed rules:

• You can use the Trading Cash Coupon when buying US stocks and Singapore stocks (common stocks or ETFs) (buy order amount ≥ US$1,000). After using it, you will receive an amount equal to the value of the Trading Cash Coupon. The amount will be credited to the relevant securities account within three trading days after the order is completed.

• The Trading Cash Coupon of US$10,000, US$3,000, and US$1,000 will be distributed in ten, three, and one coupons, respectively. Each coupon is worth US$1,000.

• The Trading Cash Coupons are valid for 180 days from the day of receipt.

3. Free Nasdaq TotalView Quote Card

During the event, users can visit the landing page and receive a free one-month Nasdaq TotalView quote card, which will be automatically activated upon distribution. Only registered MTI users are entitled to access Nasdaq TotalView. The Nasdaq TotalView function is available on both the moomoo app and on a PC desktop. Participation in the free trial of Nasdaq TotalView doesn't require the establishment of a brokerage account. Should you wish to continue using Nasdaq Totalview, subscription charges may apply.

4. Avatar Frame

  Upon entering this event page, users can click on "Start Now" to receive the exclusive "13th Anniversary Avatar Frame." The avatar frame is valid until the end of the event.

  After obtaining the avatar frame, you can go to the "Achievements Page" to wear or remove it.

5. Special Reward

Navigate to the Special Rewards section within the landing page and enter a valid code within the validity period to claim rewards (Reward types and quantities vary by promotion period).

Each code corresponds to a limited quantity of rewards. All rewards are distributed on a first-come, first-served basis and will cease once supplies are exhausted.

Eligible codes are available through: Community, Task Center, or external channels, etc. The Rewards distributed as an extra bonus will be valid for 30 days from the day of receipt.

6. Extra Bonus

On October 29th（00:00:00-23:59:59 SGT）, users who enter the product page will receive an extra bonus. Funded Clients: Will receive the 13th Anniversary Medal, Tokens and Points. Unfunded Clients: Will receive the 13th Anniversary Medal, Tokens and Trading Cash Coupon (valued at $3). The "13th Anniversary Medal" can be viewed and applied in the app under "My Medals". The Trading Cash Coupons distributed as an extra bonus will be valid for 30 days from the day of receipt.

7. Extra bonuses through KOL channels

Register through designated KOL channels to receive additional rewards：

Funded Users: one-month Option Quotes Card

Unfunded Users: Trading Cash Coupon (valued at $5).

The Quotes Card and Trading Cash Coupon distributed as an extra bonus will be valid for 30 days from the day of receipt.

8. Trading Cash Coupons rules

Participants must have a brokerage account opened through Moomoo Financial Singapore Pte. Ltd. to receive Trading Cash Rewards. 
Participants can use the Trading Cash Coupons when buying US stocks (common stocks, options, or ETFs)

Trading Cash Coupons, redeemable solely through the moomoo app, represent potential credits for eligible equity purchases in Moomoo Financial Singapore Pte. Ltd. brokerage account and hold no other value. Additional terms & conditions apply.

Trading Cash Coupons represent the value of a potential credit to a brokerage account and are not discounts on your purchase orders. Trading Cash Coupons may be taxable to you. You must have a brokerage account with Moomoo Financial Singapore Pte. Ltd. to redeem Trading Cash Coupons. Trading Cash Coupons may be redeemed only through the moomoo app and have no other value.

Trading Cash Coupons do not have any buying power until the face value of the Trading Cash Coupons is credited to your brokerage account. After the first eligible order (buy-to-open orders only) is settled, a Trading Cash Coupons amount equal to the face value of the coupon is credited to the user's brokerage account within three trading days. The use of Trading Cash Coupons depends on the order amount, product type, applicable market, and other conditions. Trading Cash Coupons can be used only once per order. Trading Cash Coupons can be used in conjunction with a Commission Discount or Zero Commission Coupon. By default, Trading Cash Coupons with the earliest expiration will be used first. If two or more Trading Cash Coupons have the same expiration date, by default, the Trading Cash Coupons with the higher denomination will be used first. Trading Cash Coupons are not registered, non-transferrable, irrecoverable once lost, and can be used only once. Trading Cash Coupons are promotion rewards, and moomoo reserves the right to reclaim Trading Cash Coupons acquired via inappropriate means, such as exploiting system vulnerabilities, hacking, and false pretenses.

 

6. Other terms and conditions:

1. The rewards and offers in this campaign/promotion (“Campaign/Promotion”) are provided by Moomoo Financial Singapore Pte. Ltd. ("Moomoo SG"). By participating, you agree to the terms and conditions of this Campaign/Promotion and the existing Client Agreement. Moomoo SG has the final decision on eligibility participant eligibility.

2. Moomoo SG has the final right to interpret these terms and conditions. The data and data confirmed of this Promotion shall be subject to confirmation by Moomoo SG's back-end data. Moomoo SG reserves the right to modify these terms and conditions without notice and may alter, withdraw, or terminate any promotion without explanation or compensation. Any adjustments or decisions made by Moomoo SG in connection with this Campaign/Promotion shall be binding on all participants.

3. You shall be responsible for any telephone, internet and other charges that may be incurred.

4. Currently, Moomoo SG limits account sign-ups to a limited group of nationalities. Please click on the drop-down box during your account opening process to see if your nationality is available on the list.

5. You can only open one universal account with Moomoo SG. Moomoo SG does not allow to open a universal account on behalf of another person (i.e. non-beneficial owners are not allowed to open accounts). Please do not open the universal account if you are not the ultimate beneficial owner.

6. Each device, whether mobile or computer, can only receive one set of account opening bonus, deposit bonus and/or referral bonus. The same user can only be invited once. The same moomoo account, the same mobile phone number, and the same device are all regarded as representing the same user.

7. If your universal account shows signs of fraud, abuse, or suspicious activity, such as the use of multiple accounts or devices, Moomoo SG may, at its sole discretion, confiscate your reward entitlements and limit your opportunities to participate in future Campaign/Promotion.

8. In Singapore, investment products and services available through the Moomoo App are offered through Moomoo SG regulated by the Monetary Authority of Singapore (MAS). Moomoo APP is a financial information and trading platform offered by Moomoo Technologies Inc. Nothing in connection with this Campaign/Promotion shall be construed as an offer, invitation or recommendation to buy or sell securities, futures or other investment products. This Campaign/Promotion does not consider your investment objectives, financial situation or financial needs.Moomoo SG does not provide investment advice and does not recommend any securities or transactions. All types of investments involve risk, and you may suffer losses. All information and data on the webpage are for informational purposes only. Past performance is no guarantee of future results.

9. In the event of any inconsistency between these Terms and Conditions and any advertising, promotion, promotional and other materials related to or in connection with this Campaign/Promotion, these Terms and Conditions shall prevail.

10. Any trademarks, graphic symbols, logos or intellectual property contained in any materials relating to this Campaign/Promotion, particularly in connection with the rewards/prizes, are the property of their respective owners. Moomoo SG does not provide any financial advice, endorsement or sponsorship of its products or services.

11. The Paper trading competition account is purely a virtual trading account and can only be used for simulating trading challenges with Us stocks,US stock ETFs and US options；

12. The cash or other assets displayed in the Paper trading competition account have no actual value and cannot be withdrawn or exchanged；

13. The content and design of the Paper trading competition account are assets of Moomoo SG, you are not allowed to alter, modify, adapt, imitate, or otherwise change any part in any way；

14. You acknowledge and agree that Moomoo SG may display or use your nickname, avatar, Moomoo App account, total earnings, holdings, and trading information for the convenience of exchanging investment insights and sharing trading strategies with other participants during the competition；

15. All transactions conducted through the Paper trading competition account are virtual in nature. Instructions entered by you will not be transmitted to any exchange for execution (including but not limited to the New York Stock Exchange, Nasdaq Stock Market, American Stock Exchange), nor will they constitute any settlement or payment obligations for you or Moomoo SG. Securities trading services provided by the company and any rights and obligations related to such services do not apply to virtual trading within the challenge account；

16. Some information displayed in the Paper trading competition account (including security quotes) is provided by third parties. The bank makes no representations, warranties, or commitments regarding the accuracy or completeness of such information and shall not be liable for any losses or damages incurred by any person directly or indirectly using such information；

17. Moomoo SG has the final decision-making power on the calculation of the holding profit challenge account, the list of winners for each prize, and their prizes. You may not object to Moomoo SG's decision;

18. If Moomoo SG believes that a participant has engaged in any cheating behavior, Moomoo SG has the right to cancel the results. If any cheating behavior is found among the global and regional top participants, their eligibility for the prizes will be revoked, and the prizes will be offered to the next participant identified in the global ranking. If cheating behavior causes losses to Moomoo SG, Moomoo SG reserves the right to pursue legal action;

19. At the end of the campaign, users with positive yield challenging the TOP 3 global cumulative returns are required to cooperate with Moomoo SG's promotional activities, including being interviewed by Moomoo, recording the winning video and delivering a winning speech. Users are required to sign an authorization form agreeing that Moomoo will use the relevant materials for brand promotion within the period of time；

20. Moomoo SG shall not be responsible for any errors, omissions, interruptions, deletions, defects, delays in transmission over communication lines, or any problems or technical malfunctions arising from telephone networks, computer online systems, servers or providers, computer equipment, software, or any technical issues or communication congestion resulting in failure to receive any emails or communications;

21. Moomoo SG is not responsible for any damage or loss caused to you or any other person's computer due to any form of human or non-human errors, including participation in the contest, instruction input and submission, or notification related to the contest, including damage or loss caused by computer viruses or harmful programs;

22. Some prizes for this activity are provided by third-party merchants (including items redeemed in the mall using points). Once the prize is collected, it cannot be returned or exchanged. The use of prizes is subject to the merchant's relevant terms. The winner shall bear all applicable taxes, fees, additional charges, and/or foreign tariffs (if any). In case of any issues with the prize, please contact the relevant merchant directly. Moomoo SG assumes no legal responsibility;

23. Activity rewards are strictly distributed according to the rules. You cannot apply for rewards through special means if they do not meet the qualifications for the activity. Moomoo SG reserves the final decision-making power on distribution and changes of any rewards;

24. If the prizes for this activity are provided by Moomoo SG, their use is subject to the terms and conditions issued by Moomoo SG for the respective prizes;

25. Before redeeming the Trading Cash Coupon distributed in the redemption activities, winners must open a corresponding universal account with Moomoo in the relevant market to receive the corresponding rewards;

26. There are expiration dates for receiving and using activity rewards. Failure to claim or use rewards within the specified period will result in the rewards being forfeited, and the winner is considered to have automatically waived their eligibility;

27. Moomoo SG reserves the right to modify or cancel the activity process, rules, awards, explanations, etc., based on actual circumstances and will notify participants as early as possible. The interpretation of the rules of this activity belongs to Moomoo SG, who has the right to modify rules, processes, etc., including but not limited to the rules and processes of the activity, in response to loopholes in the activity;

28. If the activity is not running normally for any reason, such as interruptions or early termination, Moomoo SG has the right to make corresponding adjustments and handle trading operations during abnormal periods. You cannot object to the decisions made by Moomoo SG;

29. Moomoo SG may freely quote your achievements and personal information in any promotions or advertisements related to the activity, including but not limited to name, portrait, or voice (except where prohibited by law), without the approval of the participant being quoted;

30. The confirmation of information and data for this activity is based on Moomoo SG's backend confirmation, and Moomoo SG reserves the final interpretation right;

31. This promotion does not constitute an offer, solicitation, advice, opinion, or any guarantee of securities, financial products, or tools.

32. Moomoo SG reserves the final decision-making power on any disputes related to this activity;

33. All amounts in the rules for this promotion are in U.S. dollars；

34. Each user is limited to using one account, one mobile phone number, and one device to participate in promotions. Abnormal behavior (including but not limited to using mobile phone device emulators and artificially modifying mobile phone device numbers) may automatically disqualify or suspend users’ eligibility for participating in the promotion.

35. This offer is limited to one reward per new account, with no more than one account enrolled per person；

36. Neither receipt of a share of stock through this program nor identification of a particular security in communications related to this promotion constitutes a solicitation of the security or a recommendation to buy, sell, or hold the security；

37. If you have any questions, please contact us via "Me"-"Customer Service"in Moomoo APP.

38. These Terms and Conditions have not been reviewed by the MAS.

7. Risk disclosures: 

Options trading entails significant risk and is not appropriate for all customers. It is important that investors read Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. Supporting documentation for any claims, if applicable, will be furnished upon request. Moomoo does not guarantee favorable investment outcomes. The past performance of a security or financial product does not guarantee future results or returns. Customers should consider their investment objectives and risks carefully before investing in options. Because of the importance of tax considerations to all options transactions, the customer considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy.

The Paper Trading feature in the moomoo app is for educational purposes, enabling simulated trading with virtual funds using live market data. Any orders, returns, costs, and other aspects within Paper Trading are simulated. Virtual performance does not ensure success in a live trading environment.