Rules of Moomoo US Stock Paper Trading Competition
Introduction to the Competition
The US Stock Paper Trading Competition ("Competition") is organized by Moomoo and designed to instill principles of prudence and diversification in investors. Competition entrants will simulate live trading in equities with virtual money while learning to use Moomoo’s powerful suite of analytical tools. Prizes will be awarded to Participants whose Profit and Loss percentage is the highest at the end of the Competition period.
The Registration and Competition Periods (Eastern Time Zone)
- Registration Period: from 00:00 on September 7, 2021 to 23:59 October 15, 2021.
- Competition Period: Begins at 00:00 September 20, 2021 and ends at 23:59 October 29, 2021.
Eligibility for the Competition
- This Competition is open to any moomoo App user who is a U.S. resident and who registers for the Competition during the Registration Period.
- Each Participant in the Competition must use a mobile device that is not used by any other App user.
- If a Participant is found to be using any inappropriate means to participate in the Competition multiple times or operate multiple accounts, the Participant’s will be disqualified from the Competition and will not be eligible to receive any prizes.
- Employees of Futu Inc. and its affiliates and their immediate family members not eligible to win prizes. (Immediate family includes spouses and domestic partners, parents, step-parents, siblings and step-siblings, children and step-children).
- Other Terms and Conditions of moomoo apply. See moomoo.com.
Results and Prizes
- Results of the Competition will be announced within 5 business days from the end of the Competition. Prizes will be awarded when results are announced, subject to the conditions below.
- During the Competition Period, Participants will be ranked on a Leaderboard based on their P/L%.
- In case of a tie in P/L% ranking, the Participant whose account has a greater number of positions at the end of the Competition Period will be the winner. Prizes for all other tied rankings will be split equally.
- Moomoo’s decisions on the winners and the prizes are final and are not appealable.
- 1st place winner gets 24 NVDA stocks (roughly $5,000)
- 2nd place trader gets 12 NVDA stocks (roughly $2,400)
- 3rd place trader gets 4 NVDA stocks (roughly $800)
- 4th to 100th place gets 1 PDCO stock (roughly $30.76)
- Total = roughly $10,000 in prizes (depending on stock prices at close of competition)
|AAA ESG Rating By Investor's Business Daily
|Stock Price 8/4/21
Formula for calculating total P/L%
Total P/L% = (closing net asset value-beginning net asset value) / beginning net asset value
- Through the Competition event page, tap the "Join Now" button to register. You will receive USD $200,000 of virtual funds.
- Participants need to go to the Moomoo App, tap on “Paper Trading” under the “Me” tab, and find the US Stock Paper trading Competition account to trade.
Paper Trading Rules
- The trading varieties of this Competition are limited to US stocks, and other varieties of financial products are not available for trading.
- US stock market trading sessions: (US Eastern Time) Monday to Friday 9:30 AM to 4:00 PM. Markets may close on certain days before holidays.
- The number of orders per trading day for each Participant is capped at 50 (including order cancellation and order modification)
- Participants may buy a position of a single stock worth up to 40% of total assets (but the position of a single stock exceeding 40% due to changes in stock price is not subject to this rule).
- Stocks worth less than $3 (USD) and stocks with float cap of less than $5 billion (USD) at the close of the previous trading day cannot be bought. Selling such stocks is permitted.
- This Competition supports dividends and bonus shares, but does not support IPO subscriptions, rights issues, or additional issuance.
- Market data of the paper trading system may not be completely consistent with the real stock market. This Competition is subject to data of the paper trading system.
- If a listed company is delisted for any reason, the user's virtual account holds the stock of the company, and the user can no longer trade the stock, the system will credit virtual funds settled at the stock’s last close into the user's virtual account on the second trading day.
- Anyone who generates profits through any cheating means or system loopholes will be disqualified for the Competition.
- In the case of insufficient virtual assets in the Competition account, Participants cannot make a paper trading purchase order. By using the paper trading Reset Card, the account will restore its initial virtual funds.
- By using the paper trading Defense Card, the account can prevent other Participants from viewing positions and transaction history for 24 hours.
- By using the paper trading Insight Card, you can view the positions and transaction history of a Participant’s Competition account on the leaderboard for 24 hours.
- To avoid fake transactions, the matching of paper trading orders takes into account the ticker of the real market. Even if the order price is set at market price, an order will not be executed if there is not enough volume trading at this price; if the order size is greater than the actual market volume, the order will be partially executed, and the remaining orders will remain in the queue waiting for execution.
- This paper trading system is developed by Moomoo. The transaction fees are based on the real market. If there is any discrepancy with the real market, the paper trading system shall prevail. The use of the system is free. The transaction fees do not involve any real expense, please rest assured.
Participants Acknowledge the Following Terms and Conditions
- The Competition account is a virtual trading account and can only be used for the US Stock Paper Trading Competition;
- The Competition account does not have any actual cash or other asset value, and the virtual funds in the Competition account cannot be withdrawn and used as cash;
- By participating in the Competition, Participants hereby agree and authorize the organizer, at its discretion to display or use their corresponding user nicknames, avatars, moomoo App IDs, total P/L%, positions and transactions conducted during the Competition;
- All virtual trading and other transactions conducted through the Competition account are of a virtual nature, and all input instructions will not be transmitted to the New York Stock Exchange, Nasdaq Stock Exchange, or American Stock Exchange, and will not be executed in the real market or constitute any settlement obligations or payables of the Participant or the company, nor are they applicable to the rights and responsibilities involved in the securities trading services and any other services provided by the company and accepted by the Participants;
- Moomoo reserves the right to disqualify, at its sole discretion, any Participant suspected to circumventing the rules of this Competition or otherwise cheating;
- Moomoo is not responsible for any errors, omissions, interruptions, deletions, defects or delays in data transmissions;
- Moomoo will not be responsible for any problems or technical failures of any telephone network or line, computer online system, server or provider, computer equipment, software, or failure to receive any e-mail entries due to technical problems or communication congestion;
- Moomoo is not responsible for any form of human error on the Internet or any website, or any combination thereof, including any damage to the Participant or any other Participant’s computer caused by participation, submission or notification related to this Competition;
- Moomoo will not bear any responsibility or obligation for any or injury caused by participating in the Competition, or from any communication errors related to the Competition;
- For any use of prizes, participating in the Competition means that the Participants agree to exempt Moomoo from any responsibilities. Moomoo reserves the right to change or modify these terms and conditions at any time without prior notice;
- Moomoo has the right to modify or cancel the Competition process, rules, awards, descriptions, etc. at any time. In the event Moomoo takes such action, it will provide notice to Participants as soon as practicable.
- Moomoo organizer has the right to interpret the rules of the Competition, and the right to modify the vulnerabilities arising during the Competition that include but are not limited to the Competition rules and procedures;
- Redemption of stock awards by the event require a brokerage account at Futu Inc. funded with a minimum of $500.
- Moomoo is not responsible for your inability to place trades or use the app for any reason.
- By participating in the Competition, Participants agree (i) to be bound by these Terms and Conditions; (ii) that the decisions of Moomoo are final and binding with respect to all matters relating to the Competition; and (iii) if the Participant wins, that Moomoo may use the winning submission and the winners’ name, likeness, and/or voice in any publicity or advertising relating to the Competition or future promotions without compensation or approval (except where prohibited by law). All applicable taxes, fees, and surcharges and/or foreign duties on prize(s) are the sole responsibility of the prize winner.
- If you have any questions about this Competition, please consult the moomoo App online customer service via “Customer Service” under the “Me” tab.
- Moomoo is a trading platform offered by Moomoo Inc. It is not a broker-dealer. Investment products and services on moomoo are offered by Futu Inc. an SEC registered broker-dealer that is a member FINRA/SIPC.
Within 5 working days after the trading end date of the Competition, Futu's official account "Paper Trading Official" will announce the winners and prizes in the Moomoo App Discussion "US Stock Paper Trading Competition Forum".
The stocks presented in this event will be credited to your securities account in the form of bonus shares within 5 business days. If you have not opened a securities account, or your securities account’s total net asset value is less than $500. The bonus shares prize will be kept for you for 15 business days after the announcement by Paper Trading Official. Please meet the prize receiving conditions within the validity period of the prize.
Note: * The above stock amounts are all pre-tax amounts. The organizer will withhold taxes and fees in accordance with the requirements of relevant laws and regulations and then issue the resultant amounts to the winners (if applicable). The specific amounts should be based on the actual amounts issued to the winners’ accounts. The winners shall provide corresponding personal identification information in accordance with the requirements of the organizer. If the winners fail to provide the required information and thus fail to receive the corresponding stocks, the organizers shall not bear any responsibility.