Shifting fund to get S$100 in 30 days

Yes, you are right. I decided to take up Moomoo’s current promotion of 5.8% guaranteed returns for 30 days. If you are interested in this promotion, do note that the promotion ends on 31 October, next Tuesday. While the account is normally opened within the day (within half an hour for me), it can take up to 3 days. So do open the account by the end of this week if you would like to take advantage of this promotion.

The following steps show what I did to obtain the hundred bucks.

Action	Reward
1. Open a moomoo account with this link https://j.moomoo.com/00BEEN	S$20 (S$2 x 10 days)
2. Deposit a cumulative amount of at least S$3,000 and complete 3 buy trades. For my case, I deposited S$3,000 and make 3 separate subscriptions into Fullerton SGD Cash Fund* (S$1,000 x 3)	a. About S$14 (5.8% interest for 30 days) b. About S$68 (3 fractional TSLA shares, based on US$210 price and FX rate of 1.35)
3. Hold the deposit for at least 30 days

There are some nuances on when the rewards will be rewarded and when you can claim. However, if you just follow the above steps, then you should be able to get all the reward within 1.5 months. Based on the above, the total amount I will get will be about S$102. However, what is not guaranteed is the price of TSLA shares and foreign exchange rate.

The price of TSLA has dropped from US$245 to the current US$210 after it announced its latest quarter’s results. Will the price continue to fall in November? Your guess is as good as mine. Assuming it drops to US$150, then one can still get about S$48 and in total S$82.

The amount might not seem a lot but for me, that will allow me to feed my family for 4 meals. The alternative is to purchase T-bills. Even at the recent high of 4%, one will only get about S$60 interest after 6 months, which is basically about S$10 per month.

So by going for this promotion, I am getting at least 8x more return.

Want more?

You can deposit S$10,000 and make 13 buy trades to obtain 13 fractional TSLA shares. The deposit needs to be held for 90 days though. To clarify, maintain assets can be in cash/ funds/ stocks etc. just have to maintain this amount for 90 days.

You can also subscribe to the maximum of S$80,000 for the 5.8% guaranteed return for 30 days.

Interested? Do remember to use my referral link https://j.moomoo.com/00BEEN  to open the account, so that you get an additional S$20 from this promotion.

Disclaimer: All views expressed in the article are the independent opinions of ThinkForwardInvestor. Neither Moomoo Singapore or its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.