Moomoo Friend Referral Program
Webull Friend Referral Bonus
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Moomoo Friend Referral Code
Use this Moomoo referral code when opening an account: Z8XGCSZM
Moomoo Friend Referral Details
If you have a Moomoo account or are thinking about opening one, consider becoming a Moomoo Ambassador to enhance your portfolio. You can increase your buying power significantly by inviting friends and family to join the broker.
Continue reading to learn how.
Moomoo Friend Referral Program Details (Regular)
The Moomoo Friend Referral program, also known as the Moomoo Ambassador program, works a bit differently than many other referral promotions you may have seen.
Instead of giving stocks for each new customer you bring to Moomoo, the broker gives you a series of cash rewards to reduce the cost of your positions. The cash rewards act as refunds for money spent placing trades. Here are the details.
For each person that you invite to Moomoo, you get two $50 bonuses. To activate the bonus, your referral must deposit at least $100 within a month of opening their account. To unlock an additional three $50 bonuses, your referrals can deposit at least $5000. That means you can earn as much as $250 for each new person you invite.
Moomoo Friend Referral Program Details (Holiday bonus is Temporary)
During the holiday season, up until January 19th, Moomoo is offering more incentives to referrers. For each of the first five people that you refer (no more than five), Moomoo gives you a randomized cash reward. The size of the bonus is either $50, $100, or $5000. The prize drawing is based on probabilities, with the $50 bonus having a 96% chance, the $100 bonus having a 3% chance, and the $5000 bonus having a 1% chance.
The rules are the same as the 'regular' referral bonus program. Referees must be new to Moomoo, be of legal age for trading, and deposit at least $100 into their newly-opened brokerage account.
Using Moomoo’s Cash Rewards
Moomoo's cash rewards should not be considered an addition to your cash balance, at least not in terms of how much you can withdraw from your account. Instead, they should be viewed as refunds for stock purchases.
To unlock the ability to use your cash bonuses for trading, you must establish a new long stock position with a value of at least $500. Once the trade transaction settles, you can expect the cash bonus to be credited to your brokerage account within three trading days.
To maximize your cash rewards, keep in mind that only one reward coupon can be used for an established position. Therefore, you'll want to create the same number of $500 positions as you have referral bonus cash coupons.
Moomoo Cash Reward Usage Timeline
Moomoo pays its referral bonuses very quickly. It only takes five days after your referral completes the required steps for you to receive your bonus. Moomoo makes each of the cash rewards you have earned available on the Moomoo app as soon as they have been activated.
Moomoo also has some rules regarding the usage and validity of your cash rewards.
Firstly, it's important to know that referral bonus credits can be used for two years. If you haven't made any qualifying deposits within that time, the cash rewards will be removed from your account.
There is also a timeline for the activation of rewards. Each successful referral that has made a $100 deposit grants you two cash rewards. You can use the first one immediately, followed by a 30-day wait until you can use the next one.
If your referral deposits $5000 to unlock the additional three cash rewards, the same timeline applies, and the two sets of rewards follow separate timelines.
Therefore, if you have been awarded five cash rewards, you can use two (the first one from each set) as soon as they are given to you, and then another two a month later. The final cash reward can be used two months after you received it.
Usage Timeline for the Holiday Referral Bonus
The usage timeline for bonuses offered through the Holiday Referral Bonus is slightly different. If you receive cash bonuses of $50 or $100, you can use them two months after they land in your account. If you receive the larger $5000 cash bonus, you'll need to wait at least 120 days before you can use the money.
Updated on 10/1/2024.
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.
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