Moomoo is excited to invite New York high school students to take part in a fun and educational trading challenge. The Student Stock Showdown will give students the chance to practice investing with virtual money and compete to see who achieves the highest returns by the end of the competition. The competition is free to enter, and winners will receive cash prizes, internships, and other awards!

 

All applicable federal, state, and local laws and regulations apply. Void where prohibited or restricted by law.

 

What: Student Stock Showdown (“Competition”).

When: October 14, 2025 (00:01 ET) to January 16, 2026 (23:59 ET).

Who: New York State high school students

Details: Read on!

 

1. Definitions

  a. Account. Participants will use the moomoo app paper-trading account provided by Moomoo Technologies Inc. ("MTI") that is approved to participate in the Competition.

  b. Competition. Student Stock Showdown ("Competition").

  c. Competition Period. From October 14, 2025 (00:01 ET) to January 16, 2026 (23:59 ET).

  d. Participant. Any student enrolled in a high school in New York State during the competition period is eligible to join.

  e. Educator. Teachers, coaches, or, counselors from high schools in New York State.

  f. Organizer. Moomoo Technologies Inc. ("MTI" or "Organizer").

 

2. Competition Rewards

a. Student (Participant) Prizes

This competition awards students (Participants) based on their final profit and loss (the total amount of money gained or lost in their competition accounts) at the end of the Competition.

  i. 1st Place: $2,500 cash prize (in the form of a prepaid debit card), an internship opportunity, a trophy, and a certificate of excellence

  ii. 2nd Place: $1,000 cash prize (in the form of a prepaid debit card), an internship opportunity, a trophy, and a certificate of excellence

  iii. 3rd Place: $250 cash prize (in the form of a prepaid debit card), an internship opportunity, a trophy, and a certificate of excellence

 

b. School Prizes

This competition also awards schools based on the overall profit and loss percentage of all participating students at that school.

i. 1st Place: $10,000 grant to support financial education programs at the school.

ii. 2nd Place: $2,000 grant to support financial education programs at the school.

iii. 3rd Place: $2,000 grant to support financial education programs at the school.

 

c. Educator Prizes

This competition awards Educators based on the profit and loss earned by their highest performing student in the Competition.

  a. If one of an Educator’s students wins 1st Place: $1,500 cash prize and fractional shares (worth $500).

  b. If one of an Educator’s students wins 2nd Place: $200 cash prize and fractional shares (worth $200).

  c. If one of an Educator’s students wins 3rd Place: fractional shares (worth $100).

  d. Each participating Educator receives a $200 Cash Rewards.

 

3. Participation Requirements

a. Participants must be students enrolled in a New York State high school during the Competition Period. They must also agree to these terms and conditions. Upon request, the Organizer may ask participants to show proof that they are eligible to take part. Educators may help their students understand how to use the platform and think through their trading decisions, but they cannot place trades on behalf of participants.

b. To participate, students under the age of 18 must submit a signed parental consent form. Students who are 18 or older must complete and sign the participation waiver before entering the Competition.

c. To be eligible for the rewards, each Educator must have at least 5 students register and each school must have at least 10 students register.

d. Eligibility is at the exclusive discretion of the Organizer. The Organizer and its affiliates shall be entitled to reject any entrant for any reason or no reason at all without having to provide an explanation.

e. The Organizer reserves the right, in its sole discretion, to cancel, suspend, or terminate the Competition for any reason and without prior notice to any Participant. In such an instance, the Organizer may, if and as appropriate, select the Participants or Educators who are eligible to win prizes, using reasonable means that are materially consistent with the terms of conditions of this Competition.

 

4. Publicity

a. Subject to applicable law, Participants and Educators consent to the Organizer’s and its affiliates’ use of Participants’ and Educators' nicknames in moomoo App, their schools, data related to the Competition, and other necessary information, for marketing, advertising, and publicity purposes in any media throughout the world at any time without the obligation to seek separate consent or to provide Participants and Educators with any payment or other form of consideration. Participants and Educators agree to execute any document reasonably required by the Organizer and its affiliates to effectuate the terms hereof and failure to do so shall give rise to the Organizer and its affiliates right to execute any and all such documents.

 

5. General Terms

a. Limit of one entry per Participant. Participants may not open or use more than one Account for the Competition.

b. Account Restriction and Cancellation. Because many participants are minors, some app features will be turned off (for example: Community, Promotions, Redeem Points, Customer Service, paid Market Data services, and any other features restricted for minors by law). Participants agree not to use these features. If a participant tries to access restricted features, they WILL be disqualified and will forfeit any prizes. The Participants are not allowed to open accounts or deposit in the Competition Accounts. Failure to comply with this term will result in disqualification from participation in the Competition and receiving the Rewards. Participants may use the practice account only during the Competition. The Organizer may cancel the account and delete its data at any time. Accounts will be deleted 30 days after the Competition ends.

c. Open positions. The valuation of positions open at the end of each Competition period whether such period is a week or four weeks, shall be determined by the Organizer in its sole and absolute discretion.

d. Rankings. All rankings will be determined by the Organizer in its sole and absolute discretion.

e. Forfeiture of prizes. Participants and Educators eligible for prizes forfeit their entitlement to such prizes if they (1) fail to respond in a timely fashion to any of the Organizer's requests for information; (2) cannot be reached at the information provided by such individual; (3) reject the prize (or it is returned undeliverable through no fault of the Organizer); or (4) are disqualified from the Competition for any reason, including fraud and misrepresentation. In the event of any forfeiture hereunder, an alternate winner will be selected.

f. Taxes. Prize winners are solely responsible for all applicable federal, state, and local taxes.

g. Right of interpretation. The Organizer has the sole right to amend, interpret, or waive any rule or terms.

h. Disqualification. Participants using any fraudulent means to participate in the Competition will be disqualified. Fraudulent means include, and are not limited to, any activity designed to exploit errors, bugs, or loopholes in the functionality of the moomoo trading app.

i. Participation in the competition does not ensure that the participant will be approved for live options trading or any specific level of trading with Moomoo Financial Inc. ("MFI").

 

6. Trading Terms

a. U.S markets only. The Competition is limited to trading in stocks and exchange-traded funds (ETFs).

b. Starting Capital. Each Participant's Account will be funded with $100,000 in virtual (play) money.

c. Trading Hours. Trading is supported during the following sessions: pre-market, regular market hours, and after-hours (Monday to Friday from 4:00 AM to 8:00 PM GMT-4).

d. Margin trading, Short-selling, Options trading. Participants are not allowed to use margin trading (borrowing money to buy stocks), short selling (selling stocks you do not own), or options trading(buying or selling contracts that give the right to purchase or sell a stock at a set price in the future) in this Competition. Although these features are available in the platform, they MUST NOT be used. If a participant executes any of these trades, they will be disqualified from the Competition after its closure. Any prizes that may have been won based on their ranking on the leaderboard will also be forfeited if any of these types of trades are performed. This rule is in place to emphasize smart, sustainable trading and to create a more equitable environment for all participants.

e. Order Limitations

i. Stocks and ETFs (Securities). Trading is limited to securities with a trading price greater than $1 and a market value greater than $500 million on the previous trading day.

ii. Max orders per day. No more than 200 orders (not including order cancellations and modifications) may be placed in one trading day.

iii. Position (stocks and ETFs a participant holds) limits. Accounts may not hold more than 200 positions, including pending orders.

v. Single-stock Concentration. No more than 40% of your total account value may be in a single stock. If the percentage goes over 40% because a stock’s price moves or because an option is exercised, that does not automatically violate the rule.

vi. Day trading warning. This contest does not encourage or promote day trading. Day trading (buying and selling many times in a short period, e.g. within a day or few days) is very risky and not a sustainable way to trade. Once you buy or sell a position, you cannot make the opposite trade (sell if you bought, or buy if you sold) on that same position for the next 24 hours.

f. Trade execution in the simulation. Simulated orders are matched to real market trades, when possible. That means simulated trades happen after real trades occur. It also means that if there is not enough real trading volume for your simulated order, part of your order may be executed successfully and the rest may stay in the matching queue.

g. Corporate Actions. The competition supports only a few corporate events: dividends, stock splits, mergers, reverse splits, and ticker symbol changes. Other types of corporate actions are not supported. Because the system depends on external data sources, there may be delays in the notification of a corporate event. If a delay affects rankings, the system will try to fix any discrepancies to keep the competition fair.

h. Trading Fees. There is no commission or platform usage fee for trading.

i. System vulnerabilities. Any profits gained by exploiting bugs or weaknesses in the system will cause the competition results and any qualifications to be canceled.

j. Competition Settlement Rules. The final results of the Competition will be calculated using the closing prices from regular market hours on the last day of the Competition. Any profits or losses from after-hours trading on the final day will not count toward the final rankings.

k. Calculation Formula

  i. School Yield Formula: The total profit of all trading Participants in a school divided by the sum of the initial account balances of all trading students in that school, multiplied by 100. Participants must have executed at least one simulated trade to be included in the rankings.

  ii. Student (Participant) Profit Formula: A student’s profit (in dollars) = Latest net asset value − Initial net asset value. (Net asset value means the current total value of cash plus all holdings.)

  iii. Rankings:

  1. Schools are ranked by their yield in descending order.

  2. Students (Participants) are ranked by their profit amount in descending order.

  3. Educators are ranked the same as their student with the highest profit.

  iv. General Calculation Formula:

   1. Weekly profit and loss (%) = ((Net Asset Value after this Friday’s close ÷ Net Asset Value after last Friday’s close) − 1) × 100.

   2. Total Profit and loss (%) = ((Net Asset Value at the end of the Competition ÷ Initial Net Asset Value) − 1) × 100.

   3. Total Return from Individual Stock Rankings = Stock Returns + Returns from Related ETFs.

     a. Stock Returns = Market Value of Stocks at End – Market Value of Stocks at Start + Total Sales of Stocks – Total Purchases of Stocks.

     b. Returns from Related ETF = Market Value of ETF at End – Market Value of ETF at Start + Total Sales of ETFs – Total Purchases of ETFs.

 

7. Awards

a. Results of the Competition will be announced on the Website.

b. Fractional Shares won in the Competition will be credited to the associated trading accounts.

c. Awards in Cash will be credited to the associated bank accounts.

 

8. Fractional Shares

a. Fractional shares are illiquid outside of Moomoo Financial Inc., and cannot be transferred. Additionally, not all securities offered by Moomoo Financial can be traded as fractional shares

 

9. Cash Rewards

a. Cash Rewards, redeemable solely through the moomoo app, represent potential credits for eligible equity purchases in a Moomoo Financial Inc. brokerage account and hold no other value. Additional terms & conditions apply. For more information, see the Other terms and conditions Section (#j and k).

b. To claim Cash Rewards, users must open a US securities account with Moomoo Financial Inc

 

10. Other terms and conditions.

a. This Competition is open only to students from New York State High Schools. Employees, contractors, or persons similarly associated with MTI or an affiliate of MTI affiliate, members of their household and employees of any securities regulatory organization or exchange are not eligible to participate in this Competition.

b. The rewards in this Competition are offered by MTI and MFI. MTI and MFI are indirect, wholly-owned subsidiaries of Futu Holdings Limited.

c. The Moomoo App is a trading platform offered by Moomoo Technologies Inc. Securities. products available through the Moomoo App are offered by Moomoo Financial Inc., a broker dealer registered with the SEC. Moomoo Financial Inc. is a member of FINRA and SIPC. For further information about Moomoo Financial Inc., see FINRA BrokerCheck.(https://brokercheck.finra.org/) For further information about SIPC coverage for accounts at Moomoo Financial Inc., see www.sipc.org or request an explanatory brochure from Moomoo Financial Inc.

d. Neither receipt of a share of stock through this Competition nor identification of a particular security in communications related to this Competition 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 hereby recommend any security or transaction.

e. At its discretion, Moomoo Financial Inc. reserves the right to adjust Competition parameters or to terminate the Competition at any time and without notice.

f. If your Moomoo account shows signs of fraud, abuse, or suspicious activity, e.g., using multiple accounts, you forfeit your prizes.

g. Consult with your tax advisor about the appropriate tax treatment for prizes before participating in the Competition. For taxable accounts, the value of all Moomoo Financial Inc. reward or prizes may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Moomoo Financial Inc. and Moomoo Technologies Inc. do not take responsibility for any tax related to this promotion.

h. 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.

i. Moomoo Technologies Inc. reserves the right to amend, alter, or terminate the Cash Rewards program at any time and without notice. The terms and conditions above are subject to interpretation by Moomoo Technologies Inc. at its sole discretion within the scope of the law.

j. Cash Rewards are valid for 3 months from the date of issuance of the reward, and are applicable to MFI brokerage accounts. Cash Rewards represent the value of a potential credit to a brokerage account and are not discounts on your purchase orders. Cash Rewards may be taxable to you. You must have a brokerage account with Moomoo Financial Inc. to redeem Cash Rewards. Cash Rewards may be redeemed only through the moomoo app and have no other value.

k. Cash Rewards do not have any buying power until the face value of the Cash Reward is credited to your brokerage account. After the first eligible order (buy-to-open orders only) is settled, a Cash Reward amount equal to the face value of the coupon is credited to the user's brokerage account within three trading days. The use of Cash Rewards depends on the order amount, product type, applicable market, and other conditions. Cash Rewards can be used only once per order. Cash Rewards can be used in conjunction with a Commission Discount or Zero Commission Coupon. By default, Cash Rewards with the earliest expiration will be used first. If two or more Cash Rewards have the same expiration date, by default, the Cash Rewards with the higher denomination will be used first. Cash Rewards are not registered, non-transferrable, irrecoverable once lost, and can be used only once. Cash Rewards are promotion rewards, and moomoo reserves the right to reclaim Cash Rewards acquired via inappropriate means, such as exploiting system vulnerabilities, hacking, and false pretenses.

l. 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.

m. These terms contain a pre-dispute arbitration clause and class action waiver. You agree to the following:

  ● All parties to this Agreement are giving up their right to sue each other in court. including the right to a jury trial, except as provided by the rules of the arbitration forum in which a claim is filed.

  ● Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

  ● The ability of the parties to obtain documents, witness statements, and other discovery is generally more limited in arbitration than in court proceedings.

  ● The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

  ● The panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

  ● The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

  ● The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

  ● No person will bring a putative or certified class action to arbitration, nor seek to enforce any predispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (1) the class certification is denied; (2) the class is decertified; or (3) the client is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate will not constitute a waiver of any rights under this Agreement except to the extent stated herein. I agree that any controversy between you and your affiliates, any of their respective officers, directors, employees, or agents and me (including any of my officers, directors, employees, or agents) arising out of or relating to this Agreement, our relationship, any Brokerage Services provided by you, or the use of the App or your website, and whether arising before or after the date of this Agreement, shall be arbitrated and conducted under the provisions of the Code of Arbitration of the FINRA. If any party unsuccessfully resists confirmation or enforcement of an arbitration award rendered under this Agreement, then that party shall pay all costs, attorneys' fees, and expenses incurred by the other party or parties in confirming or enforcing the award. Arbitration must be initiated by service upon the other party of a written demand for arbitration or notice of intention to arbitrate. Judgment, upon any award rendered by the arbitrator, may be entered in any court having jurisdiction.

 

11. Risk disclosures

Options trading entails significant risk and is not appropriate for all customers. It is important that investors read Characteristics and Risks of Standardized Options (https://j.us.moomoo.com/017y9J) before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. Supporting documentation for any claims, if applicable, will be furnished upon request. Moomoo does not guarantee favorable investment outcomes. The past performance of a security or financial product does not guarantee future results or returns. Customers should consider their investment objectives and risks carefully before investing in options. Because of the importance of tax considerations to all options transactions, the customer considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy.