**5.1% APY eligibility: All new user brokerage accounts. Existing user brokerage accounts must refer a friend to deposit $100+ OR deposit $500 themselves to access the higher rate (If conditions are not met, rate is 0.03%).
Terms and Conditions Apply. The Cash Sweep Program is a feature of the brokerage account. The APY rate is subject to change. Neither Moomoo Financial Inc. nor any of its affiliates are banks.
Disclosure
*Source: from FDIC, as of September 18, 2023. The national average yield for savings accounts is 0.45% APY. APY% average is subject to change. IMPORTANT: The calculation provided is hypothetical in nature, does not reflect actual results and are not guarantees of future results. The APY rate is subject to change. Interest is earned on the uninvested cash swept from your Moomoo Financial Inc. (MFI) brokerage account to program banks. Program banks then pay interest on your swept cash, minus any fees paid to MFI. Neither Moomoo Financial Inc. Nor any of its affiliates are banks.
Disclosure
FAQ
What is the Cash Sweep Program?
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..
If enrolled in the program, 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.
How FDIC works
Available cash balances will be swept through the Program into interest-bearing deposit accounts ("Deposit Accounts") at one or more participating banks (each a "Deposit Bank") set forth on the Deposit Bank List, which can be accessed on our website at www.moomoo.com/us or by contacting Moomoo Financial Inc. The Deposit Bank List may change over time. For a current list of Deposit Banks at any point in time, please refer to our website or contact Moomoo Financial Inc.
The Deposit Accounts held at any Deposit Bank participating in the Program will be eligible for FDIC insurance up to the maximum applicable deposit insurance amount ("Maximum Applicable Deposit Insurance Amount"), which currently is $250,000 in the aggregate at each Deposit Bank, as described in detail below. Through the Program, joint accounts are eligible for FDIC insurance up to $500,000 per Deposit Bank.
Any deposits (including certificates of deposit issued by a particular Deposit Bank) that you maintain in the same capacity directly with a Deposit Bank, or through an intermediary (such as Moomoo Financial Inc. or another broker-dealer), including multiple accounts held at Moomoo Financial Inc. or another broker-dealer, will be aggregated with deposits in your Deposit Accounts at the Deposit Bank for purposes of determining the Maximum Applicable Deposit Insurance Amount. You are responsible for monitoring the total amount of deposits that you have with each Deposit Bank, in order to determine the extent of FDIC deposit insurance coverage available to you.
If available cash to be invested in Deposit Accounts exceeds the aggregate maximum coverage limit of $1,000,000 ($2,000,000 for joint accounts), any additional funds will be invested in a Deposit Bank but will not be FDIC insured.
How do I receive interest payments?
The interest in the Cash Sweep program is accrued daily and paid monthly, and will generally be paid to the swept account at the end of the month. You can use a filter to see all the records of the program in the securities account "fund details".
Will it affect my buying power?
When participating in the Cash Sweep program, the funds deposited in the bank will still be considered as your securities' account purchasing power.
Disclosure
Important Information
The Moomoo Financial Inc. (MFI) Cash Sweep Program is a feature of your brokerage account. Interest is earned on the uninvested cash swept from your MFI brokerage account to program banks. Program banks then pay interest on your swept cash, minus any fees paid to MFI. The Annual Percentage Yield (APY) might change at any time at the program banks' or Moomoo Financial's discretion. Additionally, any fees Moomoo Financial receives may vary and is subject to change. Neither Moomoo Financial Inc. nor any of its affiliates are banks. For more information on the cash sweep program, click here
The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission (ASIC).
For further information about Moomoo Financial Inc., please visit Financial Industry Regulatory Authority (FINRA)’s BrokerCheck. Brokerage accounts with Moomoo Financial Inc. are protected by the Securities Investor Protection Corporation (SIPC). Financial Inc. is a member of Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). It is important to understand that SIPC protects customer accounts against losses caused by the financial failure of the broker-dealer, but not against an increase or decrease in the market value of securities in customers' accounts. SIPC does not protect against market risk, which is the risk inherent in a fluctuating market. For further information about SIPC insurance coverage for accounts with Moomoo Financial Inc., see www.sipc.org or request an explanatory brochure from Moomoo Financial Inc.
Investments in stocks, options, ETFs and other instruments are subject to risks, including possible loss of the amount invested. The value of investments may fluctuate and as a result, clients may lose the value of their investment. Past performance should not be viewed as an indicator of future results.
Margin trading involves interest charges and heightened risks, including the potential to lose more than invested funds or the need to deposit additional collateral. Before trading on margin, customers are advised to determine whether this type of trading is appropriate for them in light of their respective investment objective, experience, risk tolerance and financial situation.
Free trading refers to $0 commissions for Moomoo Financial Inc. self-directed individual cash or margin brokerage accounts of U.S. residents that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply. For details, please see Commission and Fees.
All types of investments are risky and investors may suffer losses. Past performance of investment products does not guarantee future results. Electronic trading also poses risks to investors. The responsiveness of the trading system may vary due to market conditions, system performance, and other factors. Account access and trade execution may be affected by factors such as market volatility.
No content on the website shall be considered as a recommendation or solicitation for the purchase or sale of securities, futures, or other financial products. All information and data on the website are for reference only and no historical data shall be considered as the basis for predicting future trends.
Information contained on this website is general in nature and has been prepared without any consideration of customers’ investment objectives, financial situations or needs. Customers should consider the appropriateness of the information having regard to their personal circumstances before making any investment decisions.
Investment products are not insured by the Federal Deposit Insurance Corporation (FDIC) or guaranteed by a bank, and may decline in value.
The services and products offered on the website are subject to applicable laws and regulations, as well as relevant service terms and policies. The services and products are not available to all customers or in all geographic areas or in any jurisdiction where it is unlawful for us to offer such services and products.
Uninvested cash balance*
Over a period of