Moomoo Trading app introduces Referral program called Ambassador
MooMoo Inc., a wholly-owned subsidiary of Futu Holdings has announced the introduction of a program called Moomoo which is a referral program where users can refer other customers to the trading app and would get paid for it
The program gives both the referrer and the referee free stocks of any value between $8 to $1000 and depending on the number of customers referred by the Ambassador, their referral level would also keep moving higher which would increase their earnings for each referral.
“Since the inception of Futu in 2012, we have been committed to improving the investing experience of our users, dedicating over 70% of our employees to research and development. We also believe that investing should not be a difficult and lonesome process and have placed great emphasis on social elements to connect traders through the moomoo community and give moomoo users, who are mostly retail investors, access to previously unattainable publicly listed companies in the moomoo app,” says Leaf Li, Founder & CEO of Futu.
The company says that the idea behind this program is to ensure that trading is not a lonely job and that it can be fun with many users referring their friends and others who can then make trades together so that it benefits all. The Moomoo trading app has been focused on the retail segment and according to its filings, it has over 14 million customers.
The idea also seems to be to make trading a social activity and make sure that as many people trade together as possible by sharing ideas and thoughts.
The program elevates referrers based on the number of users referred and the Level 3 Ambassador can earn stocks of value between $24-$3000. The company has also announced that as an introductory measure during the months of June and July, the Ambassadors have a chance to get Apple stock based on the number of referrals made.
For signing up for the program, the user needs to be 18+ and also have a valid SSN. Once they have signed up, they would get a referral link that they can use to refer other users to the platform.
“We believe that our Moomoo Ambassador program will not only reward users for sharing but also demonstrate that we put our money where our mouth is to ‘make investing easier and not alone.’ If you love moomoo, tell your friends about it. If you have suggestions for how moomoo can improve, let us know. I check comments in the moomoo community all the time.” continued Li.
Retail trading has grown over the last year or so during the pandemic period as many people are looking for new avenues to earn and invest and since many regions were also under lockdown, it gave the opportunity for retail users to learn trading and investment and put their skills to good use. This has led to a spurt in the volumes on apps like Robinhood and Moomoo that are built with retail traders in mind.
