*1st Anniversary "Switch to moomoo" Promotion Terms & Conditions (updated and revised as of 5 June,2023)
The "Switch to moomoo" promotion (the "Promotion") is offered by Futu Securities (Australia) Ltd, trading as Moomoo AU ("moomoo"), an Australian Financial Services Licensee (AFSL 224663). The Promotion is valid from 20 April 2023 at 08:00 AET, to 30 June 2023 at 18:00 AET (the "Promotion Period").
By participating in this Promotion, you (the "Participant") agree to be bound by the Terms and Conditions herein contained, in addition to Moomoo AU's Client Services Agreement, Privacy Policy, Website Terms of Use, and other Terms and Conditions applicable to moomoo trading account holders. If you do not want to agree to these Terms and Conditions , you must not access or participate in this Promotion.
The Promotion is open to all users of Moomoo AU. To be eligible for the Promotion, the Participant must:
1. Be an Australian resident over the age of 18; and
2. Have an existing trading account with moomoo; and
3. Satisfying either of the following conditions:
a. Complete off-market transfer(s) of Australian or US-listed securities worth at least a total of AUD$5,000 or equivalence* from another broker-dealer to Moomoo AU within the Promotion Period ("Valid AU Transfer" for transfer of AU-listed securities, and "Valid US Transfer" for transfer of US-listed securities; Valid AU Transfer and Valid US Transfer are hereinafter referred to individually as "Valid Transfer" and collectively as "Valid Transfers"), or
b. Deposit at least a total of AUD$5,000 into his/her trading account within the Promotion Period ( each a "Valid Deposit").
4. Sign up for this Promotion and confirm your participation.
*Definition of "Worth at least a total of AUD$5,000 or equivalence"
Please note that the transferred shares shall be valued at their end-of-day closing single price auction ("CSPA") price on the day of completion of the transfer.
For securities denominated in US dollars, the AUD equivalence shall be calculated using the daily official AUD/USD FX rate published by the Reserve Bank of Australia on the day of completion of the transfer.
For the first deposit of any amount, made within the Promotion Period, the participant will receive 1,000 moomoo points.
Moomoo points can be exchanged for merchandise, market data subscriptions, and/or gift cards available in the Rewards Club in the moomoo app (by going to Me > Redeem Points).
For each Valid Transfer or Valid Deposit completed within the Promotion Period, the Participant will receive a stock cash coupon (each a "Coupon" and together the "Coupons") valued at AUD$100, or at USD$100 in the event of a Valid US Transfer.
Subject to the applicable terms and conditions, only a maximum of 20 Coupons can be rewarded to each eligible participant.
• If the Participant transfers a portfolio of US-listed securities worth a total of USD $12,000, he/she will receive 2 Coupons valued at USD $100 each.
• If the Participant transfers a portfolio of AU-listed securities worth a total of AUD $5,000, he/she will receive 1 Coupon valued at AUD $100.
• If the Participant transfers a portfolio of AU-listed securities worth a total of AUD $3,000, and at the same time deposits a total of AUD $2,000, he/she will not be entitled to receive any Coupon since such transfer or deposit does not constitute Valid Transfer or Valid Deposit.
• If the Participant transfers a portfolio of AU-listed securities worth a total of AUD $5,000 within the Promotion Period, and at the same time deposits a total of AUD $2,000, he/she will receive 1 Coupon valued at AUD $100.
• If the Participant transfers a portfolio of AU-listed securities worth a total of AUD $50,000 within the Promotion Period, and at the same time deposits a total of AUD$50,000, he/she will receive 20 Coupons valued at AUD$100 each.
These Coupons will be issued to the Participant's Moomoo AU account within 30 business days from the date of completion of each Valid Deposit and/or Valid Transfer ("Completion Date", as confirmed by the Promoter), but will remain locked and unvested until the satisfaction of all of the following conditions:
1. Asset Retaining: The assets (including cash, securities and if applicable, other kinds of assets) deposited or transferred into the Participant's account within the Promotion Period must be retained for at least 3 calendar months ("Vesting Period") ; and
2. Actual Transaction: Within the Vesting Period, the Participant must execute no less than 3 trade orders using his or her account via Moomoo AU ; and
3. Asset Value: Within the Vesting Period, the Participant is required to maintain the total value of assets (including cash, securities and if applicable, other kinds of assets) deposited and transferred into his or her account, not to drop to a value lower than 80% of the total asset value at the Completion Date ("Initial Value"). For the purpose of this condition, due to market reasons and securities price fluctuations, decrease of value no more than 20% is allowed within the Vesting Period, provided that such drop in the Initial Value is not a result of withdrawal of any asset or cash by the Participant. For avoidance of doubt, if the total asset value of the Participant's account drops to lower than 50% of the Initial Value ("Substaintial Value Decrease") at any time within the Vesting Period due to whatever reason, once the Promoter identifies the Substaintial Value Decrease, the Promoter will reserve the right to cancel and revoke the Coupon(s) at the Promoter's sole and absolute discretion, and the Coupon(s) will become invalid with immediate effect.
If you transferred shares valued at AUD$5,000 to moomoo on 10th April, then on 10th May, your assets shrunk by 20% as the price of shares fell due to market volatility, your Coupon will not expire because we allow up to 20% drop in asset value due to market volatility.
If you transferred shares valued at AUD$5,000 to moomoo on 10th April, then on 10th May, your assets shrunk by 30% as the price of shares fell due to market volatility, and you retain such assets worth no less than AUD$2,500 within the Vesting Period until 10th July, your Coupon will not expire since Substantial Value Decrease did not occur.
If you transferred shares valued at AUD$5,000 to moomoo on 10th April, then on 10th May, you sold shares worth of AUD$2,500 and subsequently withdrew the cash from your sell order on 15th May, your coupon will expire because the amount you transferred out of your moomoo account in the Vesting Period is larger than 50%.
If you transferred shares valued at AUD$5,000 to moomoo on 10th April, then on 10th May, your assets shrunk by 50% as the price of shares fell due to market volatility and the value of your remaining assets dropped to less than AUD$2,500, and you subsequently deposit AUD$2,500 into your moomoo account and retain such asset worth no less than AUD$2,500 within the Vesting Period until 10th July, your Coupon will not expire since Substantial Value Decrease has been remedied.
Upon the expiry of the Vesting Period and satisfaction of all the above conditions, as determined at the sole discretion of Moomoo AU, the respective Coupon will automatically become vested and unlocked on the date of such determination ("Activation Date"), and the Coupon(s) will remain valid for 180 days period ("Valid Period"), commenced from the Activation Date.
For the avoidance of doubt, the Activation Date and the respective Valid Period vary among each Valid Deposit and/or Valid Transfer, since the Completion Date may vary. In situations where multiple Valid Deposits and/or Valid Transfers are made on multiple days during the Promotion Period, each Coupon awarded shall have its own distinct Completion Date, and each set of Vesting Conditions shall apply separately to each Coupon awarded.
If you deposited AUD $1,000 on April 15th, transferred AUD $2,000 worth of stocks on April 20th, and deposited another AUD $3,000 on April 22nd, the system will recognize a total of AUD$6,000 funds transferred on April 22nd. You will receive a Coupon valued at AUD$100. Your asset retaining period will be three calendar months starting from April 22nd.
Coupons are applicable to stock orders in Moomoo AU accounts. After a client redeems a Coupon, a stock purchase credit equal to the face value of the Coupon will be added to the client's account, and automatically applied to the client's next eligible trade order.
A Coupon will be automatically applied to client's first eligible trade order (buy-to-open orders exceeding AUD $100 only) within the Validity period. Whether the client can use a Coupon depends on the order amount, product type, applicable market, and other conditions. Once the eligible order is filled within the Validity period, the cashback will be credited to the client's account. Please note that each client can use only one Coupon for each order, but Coupons may be used in conjunction with a commission discount or zero commission coupon, if applicable.
The cashback will be credited to the client's account within three trading days after the order is completed. Clients can check the crediting progress via Trade > Brokerage Account > Funds Details in the moomoo app.
1. Moomoo AU reserves the right, in its sole discretion, to refuse to allocate any or all of the above benefits if it believes that the client is engaging in, has engaged in, attempted, or caused to engage in activities in violation of the offer conditions. In such cases, Moomoo AU's decision will be final, and no further correspondence will be entered into.
2. Moomoo AU also reserves the right to reclaim any reward acquired via inappropriate means, such as exploiting system vulnerabilities.
3. The Promotions are provided by Moomoo AU, a wholly owned subsidiary of Futu Holdings Limited. In Australia, investment products available on moomoo are offered by Moomoo AU, which is regulated by the Australian Securities and Investments Commission (ASIC). The moomoo App is a trading platform offered by Moomoo Inc., a wholly owned subsidiary of Futu Holdings Limited.
4. The eligible Participant can only participate in the Promotion during the Promotion Period and only in the manner described in these Terms and Conditions. If the Participant submits his/her entry late, early, in a way other than the prescribed manner, or otherwise incomplete, he shall be excluded from participation without further notice.
5. At its sole discretion, Moomoo AU reserves the right to cancel, terminate, modify or suspend these Terms and Conditions, and invalidate any affected participations, or cancel, suspend or vary a reward, without any further notice or assuming any liability to any person(s). Such cancellation, termination, modification, suspension or invalidation will take effect immediately at the time when they are posted or made available to the Participants.
6. Each Participant can only open one trading account with us, and by participating in this Promotion, Participants are deemed to have agreed to all existing terms and conditions in the Client Services Agreement, as well as all the Terms and Conditions of this Promotion, or any other promotions or events. If any participant's securities account shows signs of fraud, abuse, or suspicious activity, including but not limited to registering multiple accounts using the same device, Moomoo AU may, at its sole discretion, cancel the Participant's rewards and limit the Participant's eligibility to participate in future promotions.
7. Each device, mobile or desktop, is only entitled to one set of Rewards. Using the same moomoo ID, phone number, or device will all be regarded as a single user.
8. This Promotion is not available for users on the "Moomoo AU Promotions and Events Participation Ban List". If a user repeatedly violates Moomoo AU's safety rules, the user will be put on the "Moomoo AU Promotions and Events Participation Ban List".
9. This Promotion is not an offer, recommendation or solicitation for the purchase or sale of any securities. It is not intended to be, nor does it constitute any form of financial advice.
10. Moomoo AU shall not assume any liability to any financial or non-financial losses incurred to any person in connection with the Promotion, however arising, including but not limited to losses incurred from trading.
11. To the maximum extent permitted by applicable laws, in no event shall Moomoo AU or anyone acting on its behalf be liable for any direct, indirect, special, incidental or consequential damages whatsoever, including without limitation damages for loss of profits, loss of confidential or other information, business interruption, loss of privacy, failure to meet any duty (including without limitation any duty of good faith or reasonable care), negligence, negligent misrepresentation, failure to warn, and any other pecuniary or other loss whatsoever, arising out of or in any way related to Moomoo AU or the Promotion, including without limitation any use or misuse of, or inability to use, the Moomoo AU or otherwise under or in connection with any provision of these Terms and Conditions, including without limitation any breach of any term or condition or a fundamental breach of these Terms and Conditions, even if Moomoo AU or anyone acting on its behalf has been advised of the possibility of such damages.
12. Moomoo AU reserves the right of final interpretation of these Terms and Conditions (including but not limited to the terms of all promotion rewards, stock cash coupons) to the extent permitted by law. In the event of any dispute, our decisions are final and no correspondence will be entered into.
13. The failure of Moomoo AU to exercise or enforce any right or provision of these Terms and Conditions shall not constitute a waiver of such right or provision. If any of these Terms and Conditions is found by a court of a competent jurisdiction to be invalid, you agree that the court should endeavor to give effect to the intentions of Moomoo AU as reflected in these Terms and Conditions, and the other provisions of these Terms and Conditions shall remain in full force and effect.