1. Paper trading is available for three markets: the US, Malaysia, and Hong Kong. Access Papertrade to automatically open virtual accounts for these markets, starting with an initial balance of US$1 million, RM1 million, or HK$1 million.
2. In paper trading, the types of products you can trade vary by market. The US market allows trading in stocks, stock options, and index options. Only stock trading is available in the Malaysia market. The Hong Kong market offers stocks, warrants, CBBCs, and other securities listed on the Hong Kong Stock Exchange.
3. The trading hours for each market are as follows:
● United States from 4:00 AM to 8:00 PM (Eastern Time)
● Malaysia from 9:00 AM to 12:30 PM and 2:30 PM to 5:00 PM (Malaysia Time)
● Hong Kong from 9:30 AM to 12:00 PM and 1:00 PM to 4:00 PM (Hong Kong Time)
4. The corporate actions supported in each market for paper trading are outlined below.
|
Market
|
Corporate Actions
|
|
US
|
Dividends, stock splits, reverse splits, and stock symbol changes
|
|
Malaysia
|
Dividends, stock splits, and reverse splits
|
|
Hong Kong
|
Stock splits, reverse splits, and stock symbol changes
|
5. Paper trading adopts the rules of order matching. The highest bid (best bid) and the lowest ask (best ask) are the best prices for matching. A buy order at a price higher than the best bid or a sell order at a price lower than the best ask satisfies the matching conditions and will be automatically queued for execution.
6. The paper trading system is not necessarily consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.
7. If you hold stocks of a listed company that is delisted for any reason, you may no longer trade the stocks in the following trading days, and the system will return the virtual funds to your virtual account at the last closing price.
8. Fees in the paper trading system are charged by reference to the real market. If there is a slight inconsistency, fees in the paper trading system shall prevail.
● US Market:
Commission: US$0.0049/Share, Minimum US$0.99/Order;
Platform Fee: US$0.005/Share, Minimum US$1/Order;
Settlement Fee: Transaction Shares * US$0.003;
Regulatory Fee: Transaction Amount * US$0.000008, Minimum US$0.01/Order;
Trading Activity Fee: Transaction Shares * US$0.000166, Minimum US$0.01 and Maximum US$8.3 (Sells Only).
● Malaysia Market
Commission: Transaction Amount * 0.1%, Minimum RM8/Order;
Clearing Fee: Transaction Amount * 0.03%;
Service Tax: 6% of the Commission;
Stamp Duty: RM1 Per RM1,000 Traded (Amounts Under RM1,000 Rounded to RM1,000), Maximum RM200.
● Hong Kong Market
Commission: Transaction Amount * 0.03%, Minimum HK$3/Order;
Platform Fee: HK$15/Order;
Trading Tariff: HK$0.5/Order;
Settlement Fee: Transaction Amount * 0.002%, Minimum HK$2, and Maximum HK$100;
Stamp Duty: Transaction Amount * 0.1%, Minimum HK$1;
Trading Fee: Transaction Amount * 0.005%, Minimum HK$0.01;
Transaction Levy: Transaction Amount * 0.0027%, Minimum HK$0.01.
9. If you buy a CBBC and its call price is reached, causing it to be called, its residual value will become zero. This also applies if a warrant expires.
This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.
