You can trade leveraged foreign exchange (“forex”) just by following the three steps below: opening a forex account, transferring funds, and placing an order. Here is how you can do it:
Currently, you must have a Moomoo SG 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.
Currently, 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 securities 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.
3.1 Place an order to open a position
You can open a position on the“Trade” page. To do so, you can:
● 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 close a position also on the “Trade” page. To do so, you can:
● 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.