As most readers have found out, Mr 15HWW has been going deeper and deeper down the crypto rabbit hole in the past few months. So much so that he has started to outsource parts of our traditional and legacy portfolio to me!
Although apprehensive at first, it is a role that I am starting to embrace. Afterall, buying stock is not that different from online shopping, which is a women’s forte =P We do extensive research on the product, visit various platforms to compare price, patiently wait for promotion to secure the best deal. It’s the same!
For the last 6 months, our household only adopts low-cost online brokerage. We are satisfied customers and moomoo app has quickly risen to become our default trading platform.
Ever since I have been promoted (in this household) to become the chief allocator of our funds in the moomoo app, I have been on a buying spree, especially with the correction in China stocks for the past two months.
The latest stock that I have bought is none other than Futu Holdings, which is the holding company responsible for powering the moomoo platform. I am using moomoo consistently to add small exposure to new stocks as a beginner.
Disclaimer: All investments carry risks and this post and the above screenshot is definitely not investment advice! I am a newbie so please do your own research before you make a trade.
My Buying Process when trading via moomoo
Mr 15HWW often remarks that I have been spoilt by the services provided by moomoo. This is because his default for the past decade is traditional brokerages, and has to tolerate a typically 15-min lag for overseas stock tickers.
As for me? I have never traded using a traditonal broker and the moomoo trading platform is not only my default, it is also the only platform that I have used to buy stocks so far. The live Level 2 market data available for US stocks displays real-time bids, asks and stock quotes.
Level 2 data screenshot
Of course, before I buy in, I have to do my research, right?
Everything I need to know for my trade is available all in one app. I do not have to struggle to research for company performance and sentiment across different platforms and websites. Here are some key features and more – all at your fingertips on the moomoo platform:
- 24/7 updated headlines and news
- Earnings Calendar
- Ratios and analysis
- Graphs and up to 29 chart patterns and drawing tools of Company introductions, announcements, financial reports, conference calls summary
- Competitor research
Here are also some highlights of Futu that I managed to glaze from the app and their recent very impressive quarterly report:
- Total revenues in the second quarter increased by 129.3%year-over-year (“YoY”) to $203.1 million, achieving triple-digit growth for six consecutive quarters.• Non-GAAP adjusted net income was up 126.7% YoY to $ 70.9 million.
• The number of Futu users reached 15.5 million, an increase of 66.8% YoY; the number of registered clients reached 2.32 million, an increase of 142.5% YoY; the number of Futu’s paying clients reached 1 million an increase of 230.2% YoY.
• During Q2, Futu’s total trading volume soared 104.3% YoY to $ 169.4 billion.
No doubt that I am investing in a growth stock with Futu and their performance in the Singapore market has been impressive to say the least.
I am also able to get in touch with the general public sentiment (moo community) before I trade. I could engage with others, gain new perspectives and even express my opinions with moomoo’s 15.5 million strong community from all over the world through their forum.
If you are keen to explore the moomoo app and start your investing journey like I did, do check out what moomoo powered by FUTU has installed for you this October!
Attractive Welcome Bundle Worth SGD 200
Basically, when you sign up via moomoo, open a FUTU SG securities account and deposit SGD 2,700 before 1 November 2021, 09:59 hrs SGT, you will receive SGD 200 stock cash coupon. This works in a cash back method which is similar as when we are shopping as we receive cash back for our buys! This will be activated over a period of 0, 30 and 60 days. Who would say no to cash back when shopping?
October Sign up details
If you are keen to sign up, do refer to our previous post (here and here) for a full guide or you can also sign up using this link.
Thank you for reading!
Disclaimer: This article contains affiliate/referral links and contributes to the sustainability of this blog.
