1. Paper trading is available for two markets: the Hong Kong stock market and the US stock market. To open a virtual account, simply tap the "Get Now" button for the market you want to trade in. Each virtual account starts with an initial balance of HK$1 million or US$1 million.
2. The product types you can paper trade are limited to stocks, warrants, CBBCs, and other products listed on the Hong Kong Stock Exchange for the Hong Kong stock market, and to stocks for the US stock market.
3. Trading hours: Hong Kong stock market: 9:30 AM–12: 00 PM, 1:00 PM–4:00 PM (Hong Kong Time); US stock market: 9:30 AM–4:00 PM (Eastern Time).
4. Paper trading supports dividends and bonus shares, but is not available for IPO shares subscription, rights issue, or placement.
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 may not necessarily be consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.
7. If you hold the stock of a listed company that is delisted for any reason, you may no longer trade such stock in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.
8. The fees charged for paper trading may differ from those of actual trading. For actual investments, please refer to the fee standards in the official trading environment.
● Hong Kong market:
Commission: transaction amount * 0.03%, minimum 3 HKD/order;
Platform Fee: 15 HKD/order;
Trading Tariff: 0.5 HKD/order;
Settlement Fee: transaction amount * 0.002%, minimum 2 HKD, and maximum 100 HKD;
Stamp Duty: transaction amount * 0.1%, minimum 1 HKD;
Trading Fee: transaction amount * 0.005%, minimum 0.01 HKD;
Transaction Levy: transaction amount * 0.0027%, minimum 0.01 HKD;
● US market:
Commission: 0.0049 USD/share, minimum 0.99 USD/order;
Platform Fee: 0.005 USD/share, minimum 1 USD/order;
Settlement Fee: transaction shares * 0.003 USD;
Regulatory Fee: transaction amount * 0.000008 USD, minimum 0.01 USD/order;
Trading Activity Fee: transaction shares * 0.000166 USD, minimum 0.01 USD and maximum 8.3 USD(sells only);
9. If you bought a CBBC and it is called because its call price is reached, then its residual value will be set to zero. The same is applicable if a warrant expires.
10. Transaction fees deducted in the paper trading system are not real expenses. The paper trading system is free of charge, so please feel free to use it.
11. The Paper Trading feature in the moomoo app is for educational purposes, enabling simulated trading with virtual funds using live market data. Any orders, returns, costs, and other aspects within Paper Trading are simulated. Virtual performance does not ensure success in a live trading environment. Paper trading is free for users of the moomoo app and doesn't require the establishment of a brokerage account.