Update August 2023: The free stock promo has changed back to Tesla or Google with $5,000 deposit, with the expiration date still set at August 31st, 2023. Here are the new terms. Updated the details below to reflect current promo terms.

Moomoo is a full-featured brokerage app with free stock trades, free options trades, and so on. Right now, they have increased their sign-up bonus significantly if you can deposit $5,000+ and maintain the deposit for 60 days. You must be a new client that has never made a deposit at Moomoo previously.

If you open a new Moomoo account via referral link (works on desktop, but recommend opening on mobile device if going to use app) and then deposit $5,000 during the promotion period (now through 8/31 11:59pm ET) and maintain the average asset balance of $5,000+ for 60 days, you can receive all of the following:

• 15 free shares of stocks, each worth between $2 and $2,000.
• 1 bonus share of TSLA or EXPE stock.
• $50 cash reward (* deduction on stock purchase, details below)

If you conservatively assume the minimum $2 per share value and the current share prices for TSLA (~$219) and GOOG (~$130), the total bonus value would be an estimated 30 + 219/130 + 50 = $210 to $299. That’s an excellent ROI on a $5,000 deposit for 60 days, and you can also invest the $5,000 as you wish. Conservatively, you could hold an ETF like SGOV or BIL to trigger the $50 cash reward credit along with earning some additional interest with minimal risk. The previous standard offer was only worth 15 free shares (value ~$30). You can view the full terms here.

Note the following details about the cash reward and stock claiming process. In order to “cash out” your $50 coupons, you will need to make a trade worth at least $500 each (varies by promo). A simple trade would be to buy 5 shares of SGOV (1-3 month T-Bill ETF) which would cost about $500.xx. You’d trigger the cash coupon. In three business days, the trade will clear and you will own $500.xx of SGOV and $50 (whatever the coupon value) will be deposited as cash into your account. You can then sell the SGOV if you want, and clear roughly $500.xx again (some interest may have accrued or have been distributed). In the end, you’ll have roughly $550.xx in cash and can do whatever you want with it – reinvest, transfer out, etc. Pretty simple.

$50 Cash Reward to use towards your next order (subject to limitations below)

The Cash Reward is valid for 24 months. After receiving the Cash Reward, it will automatically be used towards your next order that totals at least $500, not including fees or commissions. The Cash Reward is only applicable for trading US market Stocks, Fund(REITs, ETF); HK market Stocks, Fund(REITs, ETF, Leveraged and Inverse Products); Cash Rewards represent the value of a potential credit to a brokerage account.

Don’t forget to claim your free stocks:

Where can I claim my rewards?
– Once your deposit settles and meets the promotion criteria, we’ll send you an in-app notification. Then you can go to the “Welcome Bonus” page on the moomoo app and tap the “Draw” button on the page to claim your rewards (You can go to the event page via “Me” – “Promotions” – “Welcome Bonus”. If you didn’t receive the in-app notification or any opportunities to draw within five business days after you met the promotion criteria, please do not hesitate to contact our customer service);
– Tap “Draw” to draw a free stock. If you have multiple opportunities, you can continue to draw until you use them up, and you need to finish the “Draw” within the promotion period.
– Within 5 business days of a successful draw, your free stock will be added to your account as “Pending” or “Frozen”. You can check it at the bottom of the “Brokerage Account” page in “Trade”.

How does moomoo choose your free stock in a draw?
Your free stock is chosen randomly according to a specific probability distribution, so you may not receive the same stock as others.
There is approximately a 92% chance of getting a share of stock worth $2-$9.99, a 7.9% chance of getting a share of stock worth $10-$99.99, and a 0.1% chance of getting a share of stock worth $100 or more.

Do I have to make a lump-sum deposit to meet the deposit criteria and get my bonus?
No. You can make deposits in any amount each time. If you successfully make an initial deposit during the promotion period and your average asset balance meets the promotion criteria, you will be eligible for the bonus.

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Moomoo Investing App Promo: 1 Free Share of $TSLA or $GOOG + $50 Cash Reward + 15 Free Stocks from My Money Blog.

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