How to trade bonds

1. How to trade bonds through Moomoo SG?

You can open a Moomoo SG universal account to trade bonds.

2. I am not an Accredited Investor. Can I trade bonds?

Yes, you can. However, if you are not an Accredited Investor (AI), you will need to meet the requirement of a minimum S$200,000 or US$150,000 nominal value when trading bonds.

You may find the minimum nominal value requirement specific to each bond in the trading rules on the respective bond details page.

3. How to buy bonds?

(1) Select the bond you want to trade in the bond list or in the search results, and then tap the Buy button on the bond details page.

(2) Enter the nominal value and the buying price you desire. You can refer to the "Indicative Ask Price". (This price is for reference only and may differ from the actual transaction price.)

(3) Tap the Buy button, enter your transaction password, and submit the order. Please wait patiently for the order to be matched. The transaction price will not exceed the order price.

4. How to sell bonds? 

(1) Tap Bonds in the position list of your account to access the bond position details page, select the bond you want to sell, and tap Sell.

(2) Enter the nominal value and the selling price you desire. You can refer to the "Indicative Bid Price". (This price is for reference only and may differ from the actual transaction price.)

(3) Tap the Sell button, enter your transaction password, and submit the order. Please wait patiently for the order to be matched. The transaction price will not be lower than the order price.

5. Why is my order not executed immediately after being submitted?

Since bonds are traded over the counter and brokers are needed to match orders, transaction time and prices are influenced by various factors such as daily market liquidity and counterparty conditions. You can try to increase the buying price or decrease the selling price, or wait patiently for the right counterparty or market price.

6. How is the total amount of a buy or sell order calculated? 

Total Buying Amount = Buying Price * (Buying Nominal Value / Bond Par Value) + Accrued Interest + Total Fees

Total Selling Amount = Selling Price * (Selling Nominal Value / Bond Par Value) + Accrued Interest - Total Fees

In particular, Accrued Interest is paid by the buyer to the seller, and fees are paid to the platform. 

Examples:

Assuming a buy order is placed at $100 with a nominal value of $200,000 and executed at a price of $99.5, the accrued interest is $800, and the total transaction fees are $415, then your total payable amount is 99.5 * (200,000 / 100) + 800 + 415 = $200,215.

If a sell order is placed at $100 with a nominal value of $200,000 and executed at a price of $100.5, the accrued interest is $800, and the total transaction fees are $415, then your total receivable amount is 100.5 * (200,000 / 100) + 800 – 415 = $201,385. 

7. How to modify an order?

You can modify an unfilled order via「Accounts > Orders > Edit」.  

8. How to cancel an order?

You can cancel an unfilled order via「Accounts > Orders > Cancel」.