Thursday 22 April 2021

Update to My moomoo's Experience

So previously I have opened a trading account with Futu SG to trade on the moomoo platform.

I was enticed partly by the free AAPL share and partly by the 90 days commission-free trading.

Last evening, I made use of the platform's in-built currency exchange to convert my SGD deposit to USD for one of my options tradings.

Although the 90 days commission-free trading doesn't include options trading, I was nonetheless impressed by the speed of the currency exchange.

All in all, it took about 1 min for the exchange to be completed. And the exchange rate I feel, is not too bad as well.

At the point of exchange, the spot rate was about SGD 3,000 to USD 2,258.

The rate executed in moomoo App for my exchange was SGD 3,000 to USD 2,250.73.

As a real life advantage of this fast exchange, I managed to sell the Put at the premium that I was considering. Because shortly after that, the premium for the same Put fell by about 6% and a further 3% at closing.

If you are interested, the Put I wrote is this:

No comments:

Post a Comment