Don’t let brokerage fees eat up your profits
As interest rates rise, many Australians are pointedly feeling the cost of living crisis worsen daily and are looking to cut back on non-essentials to balance the budget.
However, with share trading a core part of how many of us save for retirement, it's hard to argue against cutting back on investing altogether. Instead, it pays to consider finding a broker that doesn’t let trading fees eat away at your profits.
Alongside inflation nipping at the heels of everyday Australians, many trading platforms have recently chosen to raise brokerage fees - making them expensive and disincentivising the practice of pursuing investing goals.
One platform that always puts the financial well-being of its users ahead of skimming fees off the top of every single trade is moomoo - a one-stop AI-powered share trading app.
Unlike competing share trading platforms, moomoo’s transparent and competitive fees make the decision to sign up an easy one - your wallet will thank you!
For new users of moomoo, enjoy the investing process without fees entirely for the first 180 days of trading as long as you sign up before 31 August 2023.
Once those 180 days are up though the fee structure for trading ASX shares is quite straightforward; for every trade under $10,000 you’ll only pay $8.80. Once you cross that threshold, the fee will be just 0.08 per cent of the total transaction value.
The fees are even cheaper when using moomoo to trade US shares; enjoy a flat fee of $1.99 for any trade up to USD$30,000. Any trade over that amount though and you’ll have to pay $0.0099 per share in fees.
Not convinced? Try out the Fee Calculator here for free to find out exactly how much you’ll be saving in unnecessary fees by switching to moomoo.
Moomoo is an AI-powered trading platform that gives users access to more than 2,200 ASX stocks, 10,000-plus US stocks, 2,800 Hong Kong stocks and even ETFs.
With more than 19 million users globally, moomoo has won over users thanks to its professional-grade tools that let investors trade smarter, including the Earnings Calendar, algorithmic ‘Similar Charts’, Institutional Tracking that shows the position and investment info for 20,000-plus asset management companies and more.
The platform enables you to take control of your portfolio and trade how you like, letting users jump in at just one share and no minimum spend per trade.
With these handy features, moomoo is on a mission to help investors navigate ever-changing market conditions by giving them access to important information.
Other tools that moomoo has to help users achieve their trading goals include the ‘Heat Map’ - a customisable grid that can help you understand how a market is trading and which companies are performing well. This can be extremely useful when disruptive world events happen, letting you simply glance at the Heat Map to get a reading on the market’s reaction.
‘Stock Screener’ is another key tool in the toolbelt of moomoo traders, especially those researching their next move.
The Screener allows users to define the criteria that fit their own investment objectives by enabling investors to filter out stocks and highlight their favourite ones.
For those coming to moomoo as a fresh-but-curious investors, the platform’s ‘Paper Trading’ tool should be the first thing they try out; it's like training wheels for budding day traders.
Paper trading lets users experiment with market trading - which can be daunting to newcomers - and help them build their skills and expertise in real markets without risk as you won’t have to put any of your own money into this virtual portfolio.
With its next-gen features and user-friendly design, moomoo is becoming the app of choice for investors worldwide.
To get started with moomoo, click here to start trading ASX, US and HK stocks, and navigate to the Earnings Calendar to ensure you’re always up to date with the latest financial news and information.
Simply sign up via moomoo’s application form, deposit any amount you like into your account, and start building your portfolio by trading on mobile or desktop.
You can read more about moomoo’s product features in its global user report.