Moomoo is a free stock trading app that allows users to buy and sell stocks with no fees or commissions. It’s an app very similar to Webull, with almost the same interface. The Moomoo referral bonus offer seems to change slightly every month. We will update this post every month to make sure we try to have the latest promotion showing.
Moomoo is currently offering new users a different bonus offer depending on how much they deposit. See the chart below.
See the current terms here.
Here’s what you need to do to earn your Moomoo referral bonus:
- Open a Moomoo account using a referral link (here is my Moomoo referral link).
- Deposit $100 into your Moomoo account and you’ll 5 free stocks (worth between $2 and $2,000 each).
OR, Deposit $1,000 into your Moomoo account and you’ll 15 free stocks (worth between $2 and $2,000 each).
In the remainder of this post, I’ll walk you through exactly how to earn your Moomoo referral bonus and provide some more information about what Moomoo is and how the app works.
What Is Moomoo?
Moomoo is a free brokerage app that allows you to invest in individual stocks and exchange-traded funds (ETFs). The app is very similar to other stock trading apps like WeBull, Robinhood, and Public (as well as apps like SoFi Invest). Like those apps, Moomoo doesn’t charge any commission or management fees. That means you can use Moomoo to buy and sell stocks for free.
As a brokerage app, I think Moomoo is fine and can get the job done, but I find the interface too complicated to use. I personally use M1 Finance as my primary investing app because they have more of an emphasis on index investing and have what I think is a better interface.
That being said, even though I don’t use Moomoo as my primary investing app, it’s still worth opening a Moomoo account for the signup bonus. It’s a free investing app, so there’s really no downside to opening an account and getting your bonus.
With that being said, let’s get into how to earn your Moomoo referral bonus.
Moomoo Referral Bonus Step-By-Step Instructions
Here are the step-by-step instructions to earn your Moomoo referral bonus:
1. Open Your Moomoo Account Using A Referral Link
The first thing you’ll need to do is open a Moomoo account using a referral link. Here’s my Moomoo referral link which you can use if you’d like to earn your Moomoo referral bonus.
Opening a Moomoo account is straightforward, so I won’t go into detail about that process here. Moomoo doesn’t do any credit checks, so opening an account won’t have any impact on your credit. Just follow the directions in the app.
2. Fund Your Moomoo Account With $100 Or More
Once you’ve opened your account, you’ll next need to link your bank to Moomoo, then fund your account with whatever amount you want. To maximize your bonus, you should fund your account with $5,000 or more.
It’ll take several business days for your deposit to clear your account. After your deposit clears, you’ll be able to “draw” your stocks based on the amount of money you deposit.
Deposit $100 to receive 5 stocks,
OR Deposit $1,000 to receive 15 stocks
Remember, you don’t have to invest your funds to earn your free stocks. You only have to deposit the money into your Moomoo account. That way, you don’t risk losing any money.
3. Keep the Money in Your Account for 60 days to Unlock Your Stocks.
You’ll be eligible to “draw” your free stocks after your deposit clears. It’s important that you claim your free stocks in the app. The stocks do not automatically post into your account and if you do not claim them, they will eventually expire.
The option to claim your free stocks should automatically pop up within the Moomoo app, but if not, you’ll need to go to the “Me” section of the app and search for the section that lets you claim your free stock. This goes to the confusing nature of this app – you’ll have to play around in the app for a bit to figure out how it works and where to find everything.
Here’s what it looked like when I was able to draw one of my stocks:
The most important thing is that you will need to maintain your deposit amount for 60 days to unlock the stocks you drew. So if you deposit $1,000, you must maintain a balance of $1,000 for 60 days to unlock the 15 stocks you drew.
Once you get your free stocks, you can either keep them or sell them. I personally sold all my free stocks, then withdrew my money a week later.
Refer Your Friends For More Moomoo Referral Bonuses
In addition to opening a Moomoo account for the Moomoo referral bonus, I also recommend opening a Moomoo account so you can refer other people using your own referral link. You’ll find your referral link in the “Me” section of the app. There’s a big button in that section that says “Invite Friends.”
If you have a spouse or partner, this is an easy way to make even more from Moomoo. What you’ll do is first open your Moomoo account and get your referral bonus, then you’ll refer your spouse or partner. You’ll get a bonus for referring them and they’ll get a bonus for using your link. If you do this, you’ll essentially end up getting 3 bonuses without having to do much work.
Final Thoughts
Moomoo is the newest of these investing apps that offer commission-free trades. It seems like these apps are getting a lot of funding and are using that funding to attract customers. Whether or not you want to use these apps, it’s worth taking advantage of them to get your free stocks. There’s money being spent out there to acquire new users – so you might as well get your share of it.
Since Moomoo is a free brokerage app, there’s no real downside to opening a Moomoo account to earn the referral bonus. Yes, the app is clunky and not very intuitive, but it doesn’t really matter if you’re only opening the account to earn the referral bonus.
At a minimum, you’ll earn a decent amount of free stocks, sell it all, then withdraw all your money. In a better scenario, you’ll even have a few people you can refer to Moomoo with your link.
I hope this information helps! Feel free to use my referral link and leave a comment below if you have any questions.