Cash Sweep Program is a cash management program provided by Moomoo Financial Inc. This program is only open to US securities accounts under Moomoo Financial Inc. Uninvested cash is automatically swept to the bank(s) through this program and is eligible to earn interest.
When the cash purchasing power of the securities account is negative, the uninvested cash will be automatically redeemed from the bank(s) to the securities account before the transactions are settled to avoid the payment of financing interest. When the cash is positive, it will be automatically deposited in the bank(s) at 2pm EST of each trading day to earn interest.
More information can be found in the full MFI Cash Sweep Program Terms and Conditions.
The sweep program (1) allows an investor to earn a rate of interest on free cash that is higher than the rate offered for cash held in a brokerage account and (2) banks in the program offer insurance on such cash that is higher than that available for an SIPC-covered account.
The uninvested cash swept to program banks is eligible for FDIC insurance up to $1 million. or $250,000 per program bank, inclusive of any other deposits you may already hold at the bank in the same ownership capacity, which may impact how much is covered. You are responsible for monitoring the total amount of deposits that you have with each Program Bank, in order to determine the extent of FDIC deposit insurance coverage available to you.
Please note that until funds are swept to a program bank, they are held in your brokerage account which is protected by SIPC. Once funds are swept, they are no longer held in your brokerage account and are not protected by SIPC. However, these funds are eligible for FDIC insurance through the Program Banks subject to FDIC insurance coverage limits.

Step 1: Meet the promotion criteria. After you successfully receive free stocks during the promotion period, you will have to maintain a minimum asset balance of $100 for 60 days to unlock your $20 in NVDA stock, or to maintain a minimum asset balance of $2,000 for 60 days to unlock your $50 in NVDA stock,or to maintain a minimum asset balance of $10,000 for 60 days to unlock your $300 in NVDA stock, or to maintain a minimum asset balance of $50,000 for 60 days to unlock your $1,000 in NVDA stock. (Note: if you withdraw assets during the bonus freezing period resulting in your account equity falling below the bonus threshold, you will not be able to claim free stocks. If you have not withdrawn any assets during the freeze period, but your assets have decreased to less than the bonus threshold due to trading or price fluctuations in the market, you can contact customer service for help.)
Step 2: Within 5 trading days following the conclusion of the 60-day waiting period, your free stocks will be added to your account and available for trading.

Your average daily assets will be calculated beginning the day after you draw and receive your free stocks.
For example, if you draw and receive your free stock on October 21, the average assets, for purposes of this promotion, will be calculated from October 22,
October 22: $200
October 23: $300
October 24: $500
…
December 21：$15,000
60-days average assets = $(200+300+500+……+15,000)/60
 

You can view your assets via "Accounts > Total Assets > Assets Trend" to get an approximate assessment of your average daily assets.

No. If you successfully make an initial deposit during the promotion period and your average asset balance meets the promotion criteria, you will be eligible for the bonus.