Moomoo Malaysia is a licensed trading platform officially launched in Malaysia on February 27, 2024.
As part of its mission to promote local financial innovation and empower users, Moomoo provides Malaysian investors with a professional, reliable, and innovative digitalized investment experience.
The company is among the first global digital brokerage firms to be granted the Capital Market Services License by the Securities Commission Malaysia (SC), allowing it to offer securities and derivatives trading and clearing services.
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Moomoo’s extensive features include access to over 1,000 Malaysian stocks and ETFs and 9,000 US stocks and ETFs.
Additionally, users benefit from AI-powered analytical tools, research resources, advanced charting capabilities, real-time data, and breaking news from over 150 top media agencies – all directly within the Moomoo platform.
Moomoo Malaysia has already surpassed 100,000 clients, solidifying its position as a leading digital investment platform.
New users, now that we’ve covered the platform, it’s always good to understand the fundamentals before practising trading.
It’s time to address the next big question: What types of stocks are in the market?
Types of Stock Trading
1. Day Trading
Day trading involves buying and selling stocks within the same trading day, aiming to profit from short-term price movements.
This strategy demands a high level of discipline and a deep understanding of market trends and technical analysis.
2. Swing Trading
Swing trading focuses on capturing gains from stock price movements over a few days to several weeks.
This approach requires patience and the ability to foresee potential market shifts.
3. Position Trading
Position trading is a long-term strategy where traders hold stocks for months or years based on the expectation of substantial value appreciation.
This method minimizes the impact of short-term volatility.
Source: Moomoo Malaysia
How to Open a Moomoo Account
Top open an account, you will need the following documents:
- Malaysia ID card
- Personal Information (such as tax, employment, financial status）
- Valid proof of address in Malaysia*
Sign Up for a Moomoo Account
- Open a Moomoo financial account and get a sign-up bonus (free fractional shares including Apple, Tesla, Nvidia, etc.).
- Enter your phone number and set a password.
- Follow the on-screen instructions to verify your identity.
- Provide your employment status and financial information.
- Wait for one business day for your application to be reviewed.
- Download the Moomoo app from the App Store or Google Play Store and sign in to your account.
What You Can Do in Moomoo
1. Deposit Money in Moomoo
- Open the Moomoo app.
- Go to Accounts > More > Deposit.
- Select your local currency (e.g., MYR).
- Select the first deposit method (e.g., DDA).
- Follow the on-screen instructions to link your bank account or deposit money.
- Enter the amount you want to deposit and tap “Submit”.
- The money will typically arrive in your Moomoo account within one business day (some deposit methods only take a few minutes).
2. Exchange Currency in Moomoo
- Open the Moomoo app.
- Go to Accounts > More > Currency Exchange.
- Select your local currency in the “From” field (e.g., MYR).
- Select the currency you want to convert to in the “To” field (e.g., USD).
- Enter the amount you want to convert and tap “Submit”.
- If you live outside the US, you must exchange your local currency for USD to buy US stocks.
3. How to Buy Stocks in Moomoo
- Open the Moomoo app.
- Tap on the search icon and search for the stock you want to buy (e.g., Palantir).
- Select the stock and tap on “Trade”.
- Change the “Order Type” to “Market”.
- Enter the quantity you want to buy.
- Tap on “Buy” and confirm the order.
- Note that the US market opens from 9:30 am to 4:00 pm ET (DST) from Monday to Friday. It’s closed during weekends and public holidays.
4. How to Sell Stocks in Moomoo
- Open the Moomoo app and tap on “Accounts”.
- Select the stock you want to sell under “Positions”.
- Tap on “Trade”.
- Change the “Order Type” to “Market”.
- Enter the quantity you want to sell.
- Tap on “Sell” and confirm the order.
5. How to Withdraw Money in Moomoo
- Open the Moomoo app.
- Go to Accounts > More > Funds > Withdraw.
- Select your bank account (it should be automatically selected).
- Enter the amount you want to withdraw.
- Tap on “Withdraw”.
- The money will typically arrive in your bank account within one business day.
- Note that if you live outside the US, you must convert USD back to your local currency to withdraw money.
- If you’ve recently sold a stock, you need to wait T+2 trading days before you can withdraw your money.
Tips for Beginners
1. Educate Yourself
Learn the fundamentals of stock trading, including market operations, factors influencing stock prices, and various trading strategies.
Utilize resources such as books, online courses, webinars, and seminars.
2. Set Your Goals
Define clear, achievable goals. Whether you’re building a retirement fund, saving for a purchase, or generating secondary income, your objectives will shape your trading approach and risk tolerance.
3. Choose a Broker
Select a broker that aligns with your trading style and offers the necessary tools.
Moomoo Malaysia, with its advanced features and competitive pricing, is an excellent choice for beginners and experienced investors.
4. Practice with Paper Trading
Use Moomoo’s paper trading feature to simulate trades without financial risk. This helps you refine strategies and understand the platform’s tools before trading with real money.
5. Start Trading
Begin with small investments and gradually increase as you gain experience and confidence. Keep a journal to record your decisions and outcomes for continuous improvement.
6. Risk Management
Establish Stop-Loss Orders
Implement stop-loss orders to automatically sell securities at a predetermined price, limiting potential losses and enforcing discipline.
Diversify Your Portfolio
Spread investments across various assets, sectors, and geographies to reduce risk and smooth out returns over time.
Understand Leverage
Be cautious with leverage, as it can amplify both profits and losses. Ensure you fully understand the risks and have a clear management strategy.
What’s more, the Moomoo Malaysia app has you covered with an incredible New User Kit!
- Get Free NVIDIA Shares: Deposit RM30,000* and complete 3 buy trades (including stocks and ETFs) to receive free NVIDIA shares!
- Claim an RM400 Reward: Simply deposit RM10,000* to enjoy an RM400 reward.
- Receive a RM100 Reward: Deposit RM1,000* and claim your RM100 reward in coupons.
*Terms and conditions apply.
Navigating the stock market as a beginner can be challenging, but with the right tools and knowledge, you can improve your trading skills, access global trading and build a solid foundation for successful trading!
Moomoo provides an excellent platform with advanced features, educational resources, and a supportive community to help you on your trading journey. Happy investing!
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