06 Jul 2021
A friend hop on to recommend a new sign up bonus for Tigers broker, top up 2k to get Disney share of stock.
Similarly, new sign up for Moomoo broker, top up 2.7k to get Apple Share of stock.
Any thoughts from the many gurus here?
Tiger Brokers' free Disney share promotion has ended due to overwhelming response. Learn more about their new free Amazon/Apple/Xiaomi shares promotion here!
They are both legitimate and licensed with MAS, so you have nothing to worry. It really is quite unbelievable that they are giving out these stocks for free with almost no strings attached.
But of course, this is all in the name of customer acquisition. In UP Fintech's (Tiger's parent company) most recent earnings call, CEO Wu Tianhua said: "the marketing expense are well worth it, because if you look at our customer payback period actually came down to just maybe one quarter". With numbers like that, it's no wonder that both Tiger and Moomoo are fighting for a slice of the pie.
The promotions for Tiger and Moomoo do not require you to make any transactions - all you need to do is to make a deposit of $2,000 (Tiger) or $2,700 (Moomoo). Account opening and deposits are fast, but you may need to wait a few days for the free stock to be credited to your account. Once the stock is in, you can withdraw your initial deposit out.
Nothing in the terms and conditions of both Tiger^ and Moomoo prohibits you from selling the free stock and withdrawing the proceeds. In fact, that's what I did with my Apple share on Moomoo. However, it is to be noted that you will not receive the cash proceeds immediately after selling, due to T+2 settlement. The same applies to currency conversion. So don't be shocked if you can't withdraw your cash proceeds - just wait 2 working days for it to be fully settled!
^Tiger has added a clause for the Starbucks promotion requiring at least 10 trades before you can withdraw the profits from selling your free share. This does not apply to the previous Disney promotion. For the lowest costs, you can trade on SGX where Tiger currently has a no minimum commission promotion.
Visit https:///www.tigerbrokersguide.com to learn more about the other promotions that they offer!
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If you're asking if it's a scam, it's not. I've done the moomoo one already and withdrawn my money to place it in Tiger for the Disney share too. The Disney share should be deposited in the coming week.
Things to note for moomoo:
AAPL share can be sold immediately
Settlement is T+2 so don't be surprised if you can't withdraw immediately
Can get some freebies if you bother to clear the task center 'quests' hahah I redeemed a moomoo figurine for 9000 points lol
As far as I know, the T&C for Tiger doesn't seem to state any restrictions on selling the Disney share but I can't confirm that it won't be restricted till I get mine.
If you're concerned that they're scams, they're both MAS licensed, with offices in Singapore. They're both also listed in the US, under TIGR and FUTU (their parent companies). They are also backed by relatively large Chinese companies such as Xiaomi and Tencent if I'm not mistaken.
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