This "Financial Literacy US Stocks Paper Trading Competition" ("Competition") is organized by Moomoo Technologies Inc. ("MTI") for the purpose of improving the financial literacy of the users of the moomoo app. MTI will reward the top 20 users based on P/L% during the competition period with a cash coupon, and every participant that has at least one paper trade with a one-month trial of Benzinga Pro at no charge. (See Section VIII(1)(3) for further details). Participants can purchase a subscription to Benzinga Pro or can cancel their subscription at any time by visiting their Benzinga Pro profile. More information can be found in the Reward Distribution section below.
1. Users may register for and and participate in the competition at any time during the competition period.
2. Competition Time: April 1, 2023 00:00 (Eastern time) – May 12th, 2023 23:59 (Eastern time)
The competition is available to moomoo users who are US residents and over the age of 18.
US users can access the landing page and tap "Join Now" to download the app. You can also access the download page on the AppStore, Google Play Store, or on the web here.
• On the mobile app, tap Discover → Papertrade → Financial Literacy US Stocks Paper Trade.
• On the desktop app, tap Paper → Financial Literacy US Stocks Paper Trade.
• On the web, tap Papertrade → Start → Financial Literacy US Stocks Paper Trade.
(Once you log in to your moomoo account and enter the competition, the system will automatically register for the Financial Literacy US Stocks Paper Trading Competition.)
You can simply go into your paper trading competition account to start paper trading, or search for the stocks you want to trade, tap paper trade, and select your paper trading competition account (Financial Literacy US Stocks Paper Trade account).
1. This competition is for US stock trading only. After successful registration, participants will open a competition paper trading account for one market with initial assets of US$100,000 each and will be ranked according to their total P/L%.
2. The trading product for this competition is limited to US stocks only. Other types of investment products are not tradable.
3. US stock market trading hours: 9:30 to 16:00 ET.
4. The competition supports dividends and bonus issues, but not new IPO subscriptions, rights shares, or additional issuance. (The dividends and bonus issues are virtual).
5. To ensure the professionalism of the competition, the competition will restrict trading stocks below US$5. You may sell stocks when they fall below US$5, but you may not buy them.
6. To ensure the fairness and reasonableness of the competition, the maximum number of orders per trading day is 100 (including cancellations and order changes). In order to avoid asset spikes caused by heavy holdings in a single volatile stock, the position limit for a single stock (at the time of purchase) is 40% of total assets. However, this rule does not apply to situations where the maximum position in a single stock exceeds 40% due to stock price movements.
7. The quotes of the paper trading system are not exactly the same as the real stock market. Data for the competition is based on the paper trading system.
8. If a listed company is delisted for any reason and the participant's account holds a virtual stock of that company, the participant will not be able to paper trade that stock on the subsequent competition day, and the system will credit the virtual funds to the participant's account on the second working day at the last closing price of that stock.
9. If any participant obtains revenue through deceptive means or loopholes, he/she will be disqualified from this competition.
10. Each user can only participate in the competition with one account. If any participant is found to have used any means to operate on multiple accounts, he/she will be disqualified from this competition.
11. Only one moomoo user account can be used to participate in the competition on all platforms. The reward will be sent to users' brokerage account in the form of a cash coupon. The paper trading competition performance is synced on all mobile, desktop apps, and web platforms.
12. The paper trading system of this competition is offered by Moomoo Technologies Inc. Securities are offered through Moomoo Financial Inc. Member FINRA/SIPC. The commission fee and other fees are based on the real market. In case of minor deviations from the real market, the paper trading system shall prevail.
13. For the demo fees that are charged by paper trading, please visit here. For information on any fees regarding live trading, including the US markets, HK markets, and A-share, please visit here.
Tasks:
1) "Complete one paper trade order in Financial Literacy US Stock Paper Trading Competition": The task is located in Task Center and is considered to be completed if you make more than 1 successful transaction in the competition.
2) "Weekly ranking No.1 in Financial Literacy US Stock Paper Trade": Weekly Settlement. Calculated from the start time of the competition, Weekly P/L% = (NAV at the End of the Week ⎯ NAV at the End of the Previous Week) / NAV at the End of the Previous Week
1. Current Day's P/L% (Tn) = (Current Day's Ending NAV ⎯ Previous Day's Ending NAV) / Previous Day's Ending NAV
2. Based on the above formula, the weekly P/L% is calculated as follows:
Weekly P/L% = (NAV at the End of the Week ⎯ NAV at the End of the Previous Week) / NAV at the End of the Previous Week
Total P/L% = (NAV at the End of the competition ⎯ NAV at the Start of the competition) / NAV at the Start of the competition
NAV: Net asset value
(1) Points
"Complete one paper trade order in Financial Literacy US Stock Paper Trading Competition": 100 points
"Weekly ranking No.1 in Financial Literacy US Stock Paper Trade": 5,000 points
(2) Prizes
1st Prize: $1,500 cash coupon
2nd Prize: $1,000 cash coupon
3rd Prize: $500 cash coupon
4th to 20th Prize: $100 cash coupon
(3) Benzinga Pro one-month (30-day) free trial
• "One month" for purposes of this event is 30 days from the date you receive a confirmation of enrollment email from Benzinga.
• While all participants in the competition are eligible for a one month free trial of Benzinga Pro, the free trial period is available only to participants who have not previously subscribed to Benzinga Pro.
• Participants do not need to subscribe to Benzinga Pro for the free trial.
• To provide the free trial to eligible participants, Benzinga requires the particpant's email addresses. By participating in this event, you consent to having your email address shared with Benzinga. Please make sure your email address is valid and is kept current.
• Benzinga is not affiliated with the moomoo app, Moomoo Financial Inc., Moomoo Technologies Inc. or their affiliates.
• By using services offered by Benzinga, you are agreeing to Benzinga's privacy policies and terms of use. Please read and understand those policies and terms.
• Continued use of Benzinga services after the end of the free trial may require subscription fees. Pricing for Benzinga Pro is available here.
○ If you subscribe to Benzinga Pro, you cancel your subscription at any time. Please , click on the account icon in the upper right corner of Benzinga Pro, then select "Account" then go to "Billing" inside your account settings Pop-UP, then click on "Cancel Subscription". This will set your account to cancel at the end of your current billing period, and will NOT cancel your plan immediately. You will still have access until the end of your current billing period.
(1) Points:
• "Complete one paper trade order in Financial Literacy US Stock Paper Trade" from Task Center: issued immediately and expected to arrive within 10 minutes.
• "Weekly ranking No.1 in Financial Literacy US Stock Paper Trade" - issued weekly within 3 working days
(2) Prizes: issued after the competition ends and the results are settled, generally within 5 working days.
(3) Benzinga Pro: issued every Thursday. Benzinga will send you email instructions to the email address associated with moomoo.
(1) Cash Coupons: Me → Coupons (https://www.moomoo.com/us/support/topic3_403)
(2) Points: Me → Task Center → Points Details (https://www.moomoo.com/us/support/topic3_69)
1. The organizer (Moomoo Technologies Inc.) reserves the right to cancel the results if the participant engages in any cheating behavior. Moomoo US reserves the right of final interpretation for the event.
2. If the operation of the competition is in an abnormal state due to various reasons, the organizer reserves the right to deal with it accordingly and to dispose of the buying and selling operations during the abnormal period.
3. If you have any questions about this competition, you are welcome to consult moomoo's online customer service via moomoo APP → Me → Customer Service → Online Inquiry.
4. Points and cash coupons may be redeemed only through the moomoo app and have no other value.
1. The Competition account is a virtual trading account and can only be used for the US Stock Paper Trading Competition;
2. The Competition account does not have any actual cash or other asset value, and the virtual funds in the Competition account cannot be withdrawn and used as cash;
3. By participating in the Competition, participants hereby agree and authorize the organizer, at its discretion to display or use their corresponding user nicknames, avatars, moomoo App IDs, total P/L%, positions and transactions conducted during the Competition;
4. All virtual trading and other transactions conducted through the Competition account are of a virtual nature, and all input instructions will not be transmitted to the New York Stock Exchange, Nasdaq Stock Exchange, or American Stock Exchange, and will not be executed in the real market or constitute any settlement obligations or payables of the Participant or the company, nor are they applicable to the rights and responsibilities involved in the securities trading services and any other services provided by the company and accepted by the Participants;
5. Moomoo reserves the right to disqualify, at its sole discretion, any Participant suspected to circumventing the rules of this Competition or otherwise cheating;
6. Moomoo is not responsible for any errors, omissions, interruptions, deletions, defects or delays in data transmissions;
7. Moomoo will not be responsible for any problems or technical failures of any telephone network or line, computer online system, server or provider, computer equipment, software, or failure to receive any e-mail entries due to technical problems or communication congestion;
8. Moomoo is not responsible for any form of human error on the Internet or any website, or any combination thereof, including any damage to the Participant or any other Participant’s computer caused by participation, submission or notification related to this Competition;
9. Moomoo will not bear any responsibility or obligation for any or injury caused by participating in the Competition, or from any communication errors related to the Competition;
10. For any use of prizes, participating in the Competition means that the Participants agree to exempt Moomoo from any responsibilities. Moomoo reserves the right to change or modify these terms and conditions at any time without prior notice;
11. Moomoo has the right to modify or cancel the Competition process, rules, awards, descriptions, etc. at any time. In the event Moomoo takes such action, it will provide notice to participants as soon as practicable.
12. Moomoo organizer has the right to interpret the rules of the Competition, and the right to modify the vulnerabilities arising during the Competition that include but are not limited to the Competition rules and procedures;
13. Redemption of the cash coupon by the event requires a brokerage account at Moomoo Financial Inc.
14. Moomoo is not responsible for your inability to place trades or use the app for any reason.
15. By participating in the competition, participants agree (i) to be bound by these Terms and Conditions; (ii) that the decisions of Moomoo are final and binding with respect to all matters relating to the competition; and (iii) if the participant wins, that Moomoo may use the winning submission and the winners’ name, likeness, and/or voice in any publicity or advertising relating to the competition or future promotions without compensation or approval (except where prohibited by law). All applicable taxes, fees, and surcharges and/or foreign duties on prize(s) are the sole responsibility of the prize winner.
1. This promotion is offered by Moomoo Technologies Inc. The moomoo app is an app that offers access to licensed brokerages. In the US, securities products available through the Moomoo App are offered by Moomoo Financial Inc., a broker-dealer registered with the SEC and member FINRA/SIPC. For further information about Moomoo Financial Inc., see FINRA BrokerCheck. For further information about SIPC insurance coverage for accounts at Moomoo Financial Inc, see www.sipc.org or request an explanatory brochure from Moomoo Financial Inc.
2. All amounts in the rules for this promotion are in US dollars. The cash coupon will be added to your brokerage account. For more information about how to use cash coupons, please check: https://www.moomoo.com/us/support/topic3_403
3. Participants are solely responsible for all taxes on winnings. Customers of Moomoo Financial Inc. will receive a Form 1099 at the end of the year reporting the value of prizes Moomoo Financial Inc. or Moomoo Technologies Inc. may be required to withhold US federal income for certain individuals under certain circumstances. Please consult your tax advisor for more information applicable to your individual tax circumstances.
4. Each user is limited to using one account, one mobile phone number, and one device to participate in promotions. Abnormal behavior (including but not limited to using mobile phone device emulators and artificially modifying mobile phone device numbers) may automatically disqualify or suspend users' eligibility for participating in the promotion.
5. Moomoo Technologies Inc. has the sole right to interpret the promotion rules. By participating in the promotion, you agree to abide by these rules and the decisions of Moomoo Technologies Inc., such decisions are final and binding in all respects.
6. All terms and agreements of Moomoo Financial Inc. And Moomoo Technologies Inc. are hereby incorporated into these terms and conditions, including and not limited to their arbitration and class-action waiver provisions. The customer agreement for Moomoo Financial Inc. is available at https://www.moomoo.com/us/support/topic4_123.
7. By participating in the promotion, you certify that you have read and understood the rules of this promotion as well as the terms and agreements of Moomoo Financial Inc. and Moomoo Technologies Inc.
8. This offer is limited to one reward per new account, with no more than one account enrolled per person.
9. Neither receipt of a share of stock through this program nor identification of a particular security in communications related to this promotion constitutes a solicitation of the security or a recommendation to buy, sell, or hold the security. Moomoo Technologies Inc. and Moomoo Financial Inc. do not provide investment advice and do not recommend any security or transaction.
10. Moomoo Technologies Inc. reserves the right to terminate this promotion at any time without notice. This promotion and the products and services available through Moomoo Financial Inc. and Moomoo Technologies Inc. are not available to all customers or in all geographic areas or in any jurisdiction where it is unlawful for them to offer such products and services.
11. Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of a stock bonus before enrolling. For taxable accounts, the value of all Moomoo Financial Inc. offers received may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Moomoo Financial Inc. and its affiliates do not take responsibility for any tax related to this promotion.
12. Other Terms and Conditions of moomoo apply, please see moomoo.com.
13. Translations from English are provided for convenience only. In case of any ambiguity or dispute over the terms or rules of this promotion, the terms and conditions of the English language version will control.
14. If you have any questions, please contact us via "Me" – "Customer Service" in the moomoo app or email us at cs@us.moomoo.com.