Moomoo Trading app introduces Referral program called Ambassador

Karthik Subramanian

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.

 

Read this next

Digital Assets

As SPAC bubble bursts, Circle terminates its $9 billion merger with Concord

USDC stablecoin issuer, Circle has terminated its planned $9 billion SPAC merger with publicly traded blank-check company Concord Acquisition Corp.

Institutional FX

Integral reports lowest FX volume in two years

Foreign exchange trading volumes dropped in November across Integral’s trading platforms as currency markets saw a relatively quiet period after consecutive months of strong trading activity.

Technology

CDEX: Avelacom announces connectivity to Cboe Europe Derivatives

“We anticipate that many of our customers from Asia will be particularly interested in getting exposure to pan-European products via just one venue, which CEDX offers.”

Retail FX

BUX acquires Spanish Ninety Nine’s retail brokerage unit

“Thanks to this acquisition, Ninety Nine users will have access to a wide range of services provided by BUX, such as investing in Spanish, European and US stocks, ETFs, cryptocurrencies, fractional investing and the BUX Savings Plan.”

Digital Assets

SEBA and HashKey partner to expand crypto in Hong Kong and Switzerland

SEBA Bank AG has announced a new strategic partnership with HashKey Digital Asset Group as part of both firm’s expansion efforts in Hong Kong SAR. 

Executive Moves

Broadridge appoints Martin Koopman as Chief Product Officer

“Martin has a proven record of driving product innovation both at Broadridge and at previous companies. His vision and proven ability to execute will be invaluable as we become the foremost SaaS provider to the financial services industry.”

Digital Assets

DAM rolls out Moonwalkers v1 testnet ahead of support for yield-generating collateral

“We want to champion innovation by making it easier to securely direct stablecoin liquidity away from Ethereum towards newer networks without the constant vulnerabilities posed by bridges. d20 will help accelerate the adoption flywheel of emerging networks, and this is our first step towards making our omnichain promise a reality.”

Institutional FX

FIA EXPO: ICE’s Brian Norris talks ESG investment, carbon credits and market data

The FIA Futures & Options Expo, now in its 38th year, convened the listed derivatives dealers, thought industry leaders and other stakeholders for two days of networking.

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

<