1. Paper trading supports five markets: the Hong Kong stock market, the US stock market, the China A-shares market, the Singapore stock market, and the Canada stock market. Anyone can paper trade in any market. By tapping the "Get Now" button, you can open a virtual account for each market and will have initial assets of 1 million HKD, 1 million USD, 1 million CNY, 1 million SGD, and 1 million CAD in each account, respectively.
2. The product types you can paper trade are limited to stocks, warrants, CBBCs (Callable Bull/Bear Contracts), and other products listed on the Hong Kong Stock Exchange for the Hong Kong stock market, and to stocks for the US stock market, the Singapore stock market, the Canada stock market, and the China A-shares market.
3. Trading hours: Hong Kong stock market: 9:30 AM-12: 00 PM, 1:00 PM-4:00 PM (China Standard Time); US stock market: 9:30 AM-4:00 PM (Eastern Time); China A-shares market: 9:30 AM-11:30 AM, 1:00 PM-3:00 PM (China Standard Time); Singapore stock market: 9:00 AM-12:00 PM, 1:00 PM-5:00 PM (China Standard Time); Canada stock market: 9:30 AM-4:00 PM (Eastern Time).
4. Paper trading supports dividends and bonus shares, but is not available for IPO shares subscription, rights issue, or placement.
5. Paper trading adopts the rules of order matching. The highest bid (best bid) and the lowest ask (best ask) are the best prices for matching. A buy order at a price higher than the best bid or a sell order at a price lower than the best ask satisfies the matching conditions and will be automatically queued for execution.
6. The paper trading system may not necessarily be consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.
7. If you hold the stock of a listed company that is delisted for any reason, you may no longer trade such stock in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.
8. The fees charged for paper trading may differ from actual trading in live accounts. For actual investments, please refer to the fee structure of the broker dealer which service your jurisdiction.
● Hong Kong market:
Commission: transaction amount * 0.03%, minimum 3 HKD/order;
Platform Fee: 15 HKD/order;
Trading Tariff: 0.5 HKD/order;
Settlement Fee: transaction amount * 0.002%, minimum 2 HKD, and maximum 100 HKD;
Stamp Duty: transaction amount * 0.1%, minimum 1 HKD;
Trading Fee: transaction amount * 0.005%, minimum 0.01 HKD;
Transaction Levy: transaction amount * 0.0027%, minimum 0.01 HKD;
● US market:
Commission: 0.0049 USD/share, minimum 0.99 USD/order;
Platform Fee: 0.005 USD/share, minimum 1 USD/order;
Settlement Fee: transaction shares * 0.003 USD;
Regulatory Fee: transaction amount * 0.0000221 USD, minimum 0.01 USD/order;
Trading Activity Fee: transaction shares * 0.000119 USD, minimum 0.01 USD and maximum 5.95 USD;
Margin Interest: market value of the securities borrowed * 3% short-selling rate * actual financing days (calendar days) / 365, minimum 0.01 USD;
● Singapore market
Commission: transaction amount * 0.03%, minimum 0.99 SGD/order;
Platform Fee: transaction amount * 0.03%, minimum 1.50 SGD/order;
Trading Fee: transaction amount * 0.0075%;
Clearing Fee: transaction amount * 0.0325%;
● Canadian market
Commission: 0.0049 CAD/share, minimum 0.49 CAD/order;
*Paper trading accounts are set by default with a simulation of the Canadian broker dealer pricing structure.
Platform Fee: 0.01 CAD/share, minimum 1 CAD/order; or maximum transaction amount * 0.5%;
*To protect investors' interests, we have capped the platform fee we charge at 0.5% of the transaction amount. Minimum commission and platform fee are also applied at 0.49 CAD and 1 CAD per order, respectively. If the calculated maximum platform fee per order is lower than the minimum charge per order, the maximum platform fee of 0.5% of the transaction amount will be assessed.
● China A-shares market:
Commission: transaction amount * 0.03%, minimum 3 CNY/order;
Platform Fee: 15 CNY/order;
Handling Fee: transaction amount * 0.00487%, minimum 0.01 CNY;
Securities Management Fee: transaction amount * 0.002%, minimum 0.01 CNY;
Transfer Fee (CSDC): transaction amount * 0.002%, minimum 0.01 CNY;
Transfer fee (HKSCC): transaction amount * 0.002%, minimum 0.01 CNY;
Stamp Duty (sells only): transaction amount * 0.1%;
Portfolio Fee: number of shares held * 0.008%/365.
9. If you bought a CBBC (Callable Bull/Bear Contracts) and it is called because its call price is reached, then its residual value will be set to zero. The same is applicable if a warrant expires.
10. The margin requirements for short positions in US stocks during paper trading are set at an initial margin rate of 100% and a maintenance margin rate of 60%. These margin requirements may differ from those applicable to actual trading. Please refer to the fee schedule for the specific margin amounts required in actual trading.
11. Commissions and fees deducted in the paper trading system are not real expenses. They are used to more closely resemble an actual trading environment. The paper trading system is actually free of charge, so please feel free to use it.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. In Canada, investment products and services available through the moomoo app are offered by Moomoo Financial Canada Inc. a broker-dealer member of CIRO and CIPF.
This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.