Moomoo Referral Bonus: Refer a Friend Program (2023)

Item: Moomoo Referral Bonus
Rating: 5
Author: Chad Morris

Moomoo.com referral bonus: 15 free stocks up to $2,000. April 2023 stock trading app Moomoo refer a friend program offer code to recommend a family member to open a new account.

Moomoo Friend Referral Program

Open Moomoo Account

Moomoo Friend Referral Bonus

Existing Moomoo.com clients who refer a friend to the broker will receive 5 free stocks up to $2,000 if a referral makes a deposit of at least $100, a referring client will receive another 5 free stocks. To get a Moomoo referral link, an investor can sign up to Moomoo with a referral link above, and then go on the app to Me -> Free Stocks. This is not available on the desktop platform.

As an alternative, another $0-commission broker called Webull offers a referral program with 12 free stocks valued up to $30,600— or use a link below.

Webull Friend Referral Program

Use WeBull Referral

7 Steps To Choosing Your Initial Investment

Making an initial investment is a wise move in creating your wealth over time. However, it can also be a scary decision if you do not know how and where to begin. Find out about the best way to invest money for the first time.

Step 1. Know your style

As much as you want to jump immediately into the more technical aspects of investing, you need first to know your investing style. Are you into passive or active investing? Both of these styles have their own pros and cons depending on whether you are looking for short-term or long-term gains. If you factor in your risk tolerance, budget, interests and lifestyle, then you will know which investing style suits you best.

Active investing requires researching investments, creating and maintaining your own portfolio. An example of being an active investor is when you buy and sell individual stocks from an online broker. Most successful active investors have dedicated their time, knowledge and desire to know the ins and outs of this type of investment.

Passive investment is a hands-off approach with moderate returns that involve entrusting your money with someone who does all the hard work. Mutual fund investment is one of the best examples of this strategy.

Step 2. Assess your risk tolerance

Investments do not necessarily guarantee success because it still has its own risk level. One way to protect your investment is to find a balance between searching for a risk level you can tolerate and maximizing your money's income potential. For example, you choose bonds because it provides predictable returns and poses very low risk but it can only yield a maximum of 3% return.

If you go for stock returns, you will have bigger returns but with a longer time frame depending on the company. Start by formulating your investment plan so you can analyze your financial goals and risk tolerance.

Step 3. Start investing as early as possible

You can see solid returns on your investment if you start young. This is all because of compound earnings, which refer to your investment returns earning on their own. Over time, you will notice that your account balance starts to increase in a gradual manner. You have to take the stock market's ups and downs when determining your investment success.

Since it takes a decade for your money to grow, starting young means you have the time to ride your investments out. You can also use the investment calculator to get an idea about how inflation can have a negative impact on your savings if you do not decide to invest.

Step 4. Analyze how much you should invest

Your investment goal will play an important role in deciding how much to invest. When investing for retirement, the general rule of thumb is to put at least 10% to 15% of your income for your retirement every year. While you may find it unrealistic at first, focusing on your investment goal will allow you to work your way up.

You can even calculate a more specific goal for your retirement by using a retirement calculator. This calculator provides you the amount you need when you retire at a certain age and your retirement savings score.

Step 5. Open an account intended for investment

To kick off your investment plan, you need to open an account. Avoid retirement accounts if you intend to invest for another goal. This is because retirement accounts have restrictions about how and when you can withdraw your money. You will need a taxable brokerage account because with this type of account, you have the option to get your money at any time.

You do not need a lot of money to start an investment. There are many online brokers that offer brokerage accounts for as low as $500. A brokerage account is a type of account where investors buy and sell securities like bonds, mutual funds and stocks. You can even open an account with no minimum investment required.

Step 6. Know your investment options

Regardless of the type of investment you want, it is important that you have an idea about the risk that each type carries. Here are the popular investment options you can explore:

Bonds: A bond is less risky compared to stocks and it can be a type of loan granted to a government entity or company that has to be paid back for a certain number of years.

Mutual Funds: This type of investment option has a mix of investments fused into one. Mutual funds spare you the hassle of choosing individual stocks and bonds because it provides you with a diverse option combined in one transaction.

Stocks: Stocks are also referred to as equities and this is a company's share of ownership. You purchase stocks for a share price, which can be anywhere from single digits to a thousand dollars.

Moomoo Referral Bonus

Get up to 17 free stocks when you open an account at Moomoo!

Open Moomoo Account

Step 7. Implement an investment strategy

The strategy that worked for one investor may not work for you so be sure to choose the strategy aligned with your objectives and goals. When it comes to choosing specific stocks, the process can be time consuming and complicated, but many people prefer to invest through low cost stock mutual funds. If you have set a short-term goal and you need to retrieve the money within five years, you need to choose a cash management account or online savings account as these have lower risks.

As part of implementing an investment strategy, you should also know how to calculate the profitability index (PI). PI measures the value of your initial investment and future cash flows. It is one way of ranking your investment projects so you will know the value you create from the per unit of your initial investment. When calculating your PI, you should use the following formula:

Profitability Index= (Net Present Value + Initial Investment)/ Initial Investment

The Bottom Line

There is no silver bullet when it comes to choosing an investment that can give you bigger returns. All types of investments have risks involved. Make an informed decision by gathering as much information as possible to maximize success when making your initial investment.

Moomoo Refer a Friend Program Disclaimer

Moomoo referral bonus terms can change at any time without notice. For the most recent information on the Moomoo refer a friend program offer to open account, visit their website.

About the Author

Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.