How moomoo App Help Beginner Investors Kickstart Their Investment Journeys

By now, if you still have not heard of moomoo, you might need to get out of your cave! That is because moomoo’s, the trading platfrom, advertisements are splashed across the island, all over MRT platforms, national newspapers as well as social media. Besides its really cute name, you might be wondering what exactly is moomoo?

moomoo is an online trading platform launched by Futu Holdings Limited (FUTU). In Singapore, products and services on moomoo are offered by Futu Singapore Pte. Ltd. (FUTU SG), a wholly-owned subsidiary of FUTU, that is licensed and regulated by the Monetary Authority of Singapore (MAS). FUTU is listed on the NASDAQ stock exchange in March 2019 and the moomoo trading platform was launched in Singapore earlier this year in March 2021 with an aim to help beginner investors to kickstart their investment journeys. Here are 5 ways how moomoo app can help them kickstart their investment journeys.

1. A 24/7 Help Centre To Address Your Concerns

 

We all know that taking the first step in investment can be a tentative, or even fearful one. Sometimes, questions can be as simple as not knowing which button to press. When they get too plentiful, these doubts can amount to significant inertia.

Not to worry, moomoo powered by FUTU stands by to help by providing customers service 7 days a week and 24/7 on trading days! No questions are too stupid or silly. Instead, users will find all the support they need online to ensure that all their doubts are thoroughly clarified before making their investments.

2. Start With Paper Trading

To help bolster beginner investors’ confidence further, they can consider trying out with paper trading on the moomoo platform first. This enables them to not only get familiarised with the user experience, but also conquer their fear of trading with real money.

In addition, trading with paper money is a perfect testbed to try out different investment strategies before deciding which suits them best. Within the moomoo app, occasionally, they have paper trading competitions where you can win prizes!

3. A global investment community with latest insights

Sometimes, it can get lonely walking the investment journey alone. Not to worry, there are 16 million others (and counting) globally to cheer you on. Amongst them are moo community influencers who would often share insights and valuable information.

4. Learning Investment on-the-go

If you don’t possess the ability to organise nor process the information but still recognise the importance of investing, why not equip yourself with this knowledge by taking courses on the moomoo mobile app?

With courses such as Investing 101 and Top Tips for New Users, this will provide all beginner investors a strong foundation in their investment journeys. The best part is that the majority of these courses are absolutely FREE. So there is really no reason not to get started on them!

5. Welcome Rewards worth more than SGD$2,000

 

Often times, beginner investors may make more mistakes due to the lack of experience. To reduce the pain of this potential loss, Futu Singapore is giving away Welcome Bundle worth up to $2,000. Here are the steps (not cumulative) to ensure new users receive the Welcome Rewards:

  1. Register for a moomoo ID
  2. Successfully open a FUTU SG Securities
  3. Make a First Deposit of at least S$2,700 and above & immediately you will receive an Apple (AAPL) share and S$40 stock cash coupon, promotion ending on 30 November 2021, 0959 SGT.
  4. Transfer in some shares into the platform and depending on your shares values, you will be rewarded with more Apple (AAPL) shares or even the latest iPhone 13 (limited redemption)!

More terms and conditions of the Welcome Rewards can be found here. With Welcome Rewards of up to S$2,000, this is the valuable headstart that beginner investors probably cannot find on other online brokerage platforms besides moomoo.

Sign Up via moomoo App Now to open your FUTU SG securities account!

This rounds up the 5 ways that moomoo app massively help beginner investors kickstart their investment journeys! Download and sign up for moomoo app using this link today to take the all- important step of investing.

 

 

 

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Crucial Things to Consider When Choosing a Forex Broker

Getting started with forex often involves forcing your way through a minefield.  There are so many forex brokers out there, each claiming to be the best, that it can be impossibly daunting to know which one to choose.  This is especially true if you don’t know what you should be looking out for.  In this article, we’re going to list some of the key considerations, which should, hopefully, help make your decision easier.

1. How Secure the Platform Is

The most important thing to consider when choosing a forex broker is how secure the platform is.  After all, you’ll be trusting them with your money, and you want to ensure that it is fully protected and easy to withdraw when you want it.  Fortunately, it’s not hard to check how legitimate a forex broker is.  Each country has regulatory agencies that separate the frauds from the trustworthy.  In the United States, this is the Commodity Futures Trading Commission and the National Futures Association, and in the UK, it’s the Prudential Regulation Authority and the Financial Conduct Authority.

2. The Deposit and Withdrawal Methods on Offer

A good forex broker will let you deposit and withdraw your funds without hassle.  There are many out there, though, that make depositing money easy, and then make it extremely difficult to withdraw your funds.  These are the brokers you want to avoid.  A broker really should only be there to hold your money and make trading easy, so those who do kick up a fuss or have withdrawal limits in place are not worth investing with.

3. The Transaction Costs

No matter what type of currency you want to trade, you’ll have to pay transaction costs in the form of a commission or a spread.  These can be quite high if you perform a lot of transactions or high-value transactions, so it makes sense to work with a broker that offers low rates.  Sometimes, however, you will need to sacrifice the transaction costs in order to work with a reliable broker.  It’s all a matter of weighing up your options and picking the best one for you.

4. How Easy the Trading Platform is to Use

As a new forex trader, you’ll want to work with a broker that has an easy to use an understand trading platform.  Does it provide you with all the information you need to make informed trades?  Does it provide you with charts and analysis?  What about news?  A website like InvestinGoal (which you can find at https://investingoal.com/) can help you separate the good from the bad as they review the top broker platforms based on numerous different criteria, helping you to make a decision on who to trade with based on your needs.

Forex trading can be a great way to make some extra money and get a greater insight into the financial markets around the world.  However, it’s vital that you choose a good forex broker to facilitate this.  The above four factors should all be considered before choosing a platform.

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What On Earth Is Goal-Based Investing?

First and foremost, we must define what traditional investing is. Traditional asset allocation optimizes the structure of a portfolio based on a generalized approach. Although it typically suits the needs of the institutional investors, it is not necessarily adapted to suit the needs of a private investor. A private investor, such as yourself, tends to create different portfolios corresponding to different needs.

On the other hand, goal-based investing is a relatively new approach in investing where the end justifies the means. Investing is directed to attain specific financial goals throughout an investor’s life.

“Goal-based investing involves a wealth manager or investment firm’s clients measuring their progress towards the specific life goals, such as saving for children’s education or building a retirement nest-egg, rather than focusing on generating the highest possible portfolio return or beating the market.” – Investopedia

Simply put, it re-frames success based on an investor’s needs and goals. Say that an investor’s primary goals are to save for the golden years and to save for the educational fund of his grandchildren. Goal-based investment plan would be more conservative for the former and more aggressive for the latter. As you can see, this approach will help you to withstand most market conditions and volatility.

Apply goal-based investing to your wealth management by following these steps:

Image Credits: pixabay.com

STEP 1: DETERMINE YOUR GOALS

Before anything else, you must identify your financial goals depending on your current life stage. Let us dive into some practical examples. As a young working adult, you may be eyeing on the latest gadgets (e.g., smart glasses, laptops, or smartphones). As a devoted parent, you may be considering the different educational options for your child. As a Singaporean reaching 62, you may be thinking about building your retirement fund. Having multiple goals in mind throughout the course of your life is perfectly fine!

STEP 2: ESTABLISH A TIMELINE

As you list down all your financial goals at the moment, you must keep prioritization in mind. Prioritize your goals by examining which ones you need and which ones you want to have. Afterwards, you must create a timeline for your final set of financial goals.

Do you aim to travel next month? Or, do you need to purchase a flat in the next 10 years? Measure the amount of time needed to realistically reach your short-term and long-term goals.

STEP 3: KNOW WHERE YOU START

How can you plan ahead, if you do not know where to start? Pinning your starting point is important in helping you achieve your financial goals. Administer a simple financial assessment by asking yourself a few questions. Firstly, how much money have you saved up? Secondly, do you have an emergency fund? Lastly, how much are your net worth and cash flow?

STEP 4: CREATE AN INVESTMENT PLAN

You are done with determining your final set of goals, setting a realistic timeline, and drafting your starting point. What is next for you? Well, you must put all of the above information together to create an Investment Plan. Create this by looking at four factors namely: risk profile, investment options, target amount, and asset allocation.

STEP 5: EXECUTE THE INVESTMENT PLAN

Investing for your financial goals does not stop with opening a savings account. You do not need to accumulate a massive amount of money to start investing neither. Instead, you must invest in a consistently as early as possible. As you invest religiously throughout your life, you need to review whether there are on the right path. Are you doing these things to achieve your financial goals? If so, continue on.

Image Credits: pixabay.com

Goal-based investing is a relatively new approach in investing where the end justifies the means. It may seem like an obvious or an oversimplified concept, but it represents a departure from the typical risk-tolerance framework. Will this investment strategy work well with your wealth management practices?

Sources: 1 & 2

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Newbie’s Guide To Investing In Singapore

Contrary to popular belief, investing is not only for the rich and famous. Anyone can get started with an investing program. There are various ways to invest small amounts of money and to grow one’s portfolio over time. In fact, this differentiates investing from gambling. Investing takes time and effort!

#1: SET THINGS STRAIGHT

This week, I invited an insurance agent to enlighten my team about the products available in the market. She highlighted how important it is to map out one’s financial future. What are your goals? Will you keep the money for 3 years and withdraw all the earnings? Or, is the money coming from a disposable income that you can risk losing? You need to set a clear path to reach your target.

#2: FIGURE OUT HOW MUCH MONEY YOU NEED

Once you have your financial goals lined up, it is time to determine how much money you need to invest. Use online calculators such as the Central Provident Fund’s savings calculator to work out a monthly investment plan. What are the helpful strategies that you can employ to save money each month? Well, developing a budget is a good place to start.

If you do not seem to have enough money at the end of the day then, figure out what needs to be changed. Eliminate unnecessary expenses or expand your income streams. A combination of these two can help you adjust.

#3: KNOW HOW MUCH RISK YOU CAN TAKE

The next step is to identify your investment risk level. Are you willing to shell it all out just to gain high profits? Or, do you need to be as conservative as possible?

There are hundreds of investment programs that you can partake in. From bonds to equities as well as gold bars to expensive artworks, you need to narrow down your options. So, know your preferences.

Stocks gives you a hiigher return in the long run. However, it can be highly volatile in short-term basis. On the other hand, bonds are designed to create a steady stream of income. The most conservative option is the mutual funds. Think about these information.

Image Credits: pixabay.com

When things fall into place, you may open a brokerage account. Investing directly in shares and bonds or indirectly through the exchange-traded funds (ETFs) can be less costly. A mixture of investment types can help balance the potential gain and the risk.

Sources: 1 & 2

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Always develop your trading strategy from the scratch

There a lot of traders in forex industry who think that only they are smart and other traders do not know how to make money in an easy way. These smart traders do not like to work hard on developing their strategies and like the homemade strategies which are given for free on the websites of Forex. Though these websites swear all their strategies are best and you can make money with any of them, you will find that some of these strategies are not even strategies. They have only filled some space in their websites and trying to sell you whatever they can. Making and developing a strategy in Forex is not that easy. For an experienced trader, it takes years to make money and develop their strategies. To be precise nothing is ready made in the world of forex. Those who trade in Singapore knows very well that in order to make money they must educate themselves properly so that they can trade with precision.

So the question that arises in the minds of other traders who are reading this article is to how to develop my strategy? If the other strategies are wrong, is there any way I can develop my own strategy? This article contains the answers to your questions and as you read more, you will find many new things about Forex.

Build your strategy from scratch

If you are planning to develop your strategy, do not think you will take some strategy from many websites and you will try them all one by one. The strategy that gives you the most profit is your working strategy. You will no need to work on the market and you get yourself a developed strategy which works best.

If you want to be a professional trader in Forex, you have to build your strategy from the scratch. Have you ever seen a Michelin star restaurant how they prepare their own meal? From making pasta to preparing the spices, all the things are done by their chefs at the chicken. There is no chance for using any homemade spices which are not made by them. It is only for these reasons these restaurants can charge you thousands of dollars for having a one-course meal. If they bought all the spices and make homemade foods like other restaurants, they will not have earned those Michelin stars. Similarly, when it comes to trading you need to execute your trade in your online trading account with your own developed system. If you follow other people trading system then you will never be able to follow discipline. You need to find such a strategy which will suit your personality. And for this reason, the expert traders always suggest trading with a well-developed trading strategy based on the trader’s personality.

Facts about trading

Trading in Forex and becoming a legend player to live an exotic life will need you to make your strategy from the scratch. There is no website you should use to develop your strategy. Only take help when you do not understand. Use all your own things for making your own strategy for success. At your initial stage, you should use your demo trading account to build your own trading system. Instead of risking real money try with the virtual dollar so that you don’t face any financial loss. But in order to develop a winning system you need to educate yourself with the proper knowledge or else you will never be able to develop a solid trading system.

Summary: Building your won trading system is very hard especially if you are new to this industry. You need to use the demo account and trade with a reputed broker like Saxo. Make sure that you develop your trading system based on the major three types of analysis so that you can deal with the dynamic changes of the market.

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