Moomoo's Inaugural Global Paper Trading Challenge Concludes with Over 150,000 Participants and Incredible Performance
PR Newswire
4 min read
80% of surveyed investors said the Challenge enhances trading skills
JERSEY CITY, N.J., Dec. 9, 2024 /PRNewswire/ -- Leading global investment and trading platform moomoo proudly announced the successful conclusion of its inaugural Global Paper Trading Challenge ("the Challenge"), powered by Nasdaq's TotalView® data. This landmark event attracted over 150,000 participants from seven different countries and regions, delivering remarkable virtual returns and boosting the confidence of retail investors worldwide.
The top three global winners secured impressive virtual returns [1] of 557%, 519%, and 479% respectively. To celebrate their outstanding achievements, moomoo showcased these top winners on the Nasdaq Tower billboard in the heart of New York's Times Square. The average accumulative return [2] among the global top 100 challengers reached 240%.
"The paper trading challenge is really helpful for traders, especially newbies like me," shared Alarash Furqan Bin Al-Qabir Peter from Malaysia, the top global winner of the Challenge. "I would say moomoo is the best trading platform because it is more than just a trading app; it is like social media for traders with a comments section and trusted, up-to-date news. Thank you moomoo for making our trading day easy."
In addition to global recognition, the top winners received $10,000, $3,000 and $1,000 in Cash Rewards from moomoo respectively, alongside additional prizes for their local rankings' courtesy of moomoo's regional teams.
61,155 Challengers Earn a Weekly Slice of $100,000 in Cash Rewards with Moomoo
The Challenge brought together investors of all levels, from seasoned traders to complete beginners. With access to moomoo's educational resources and a global community of 24 million [3], participants could share insights and learn from one another. Many leveraged moomoo's free advanced tools and Level 2 data to navigate the market with confidence.
At the close of each week, participants who achieved positive weekly returns shared $20,000 in Cash Rewards. By the end of the Challenge, a total of $100,000 in Cash Rewards was distributed, with 61,155 participants receiving at least one payout from moomoo.
Survey Highlights Boost in Investment Confidence Post-Challenge
A recent survey conducted among the Challenge participants in Japan, Australia, Canada, Malaysia and Singapore revealed that 80% believed the Challenge enhanced their trading skills, with 10% noting significant improvement. Additionally, 20% of surveyed participants reported feeling more confident in making investment decisions post-Challenge. Many surveyed challengers expressed eagerness for more such paper trading challenges to be organized on moomoo.
"Moomoo's paper trading feature is designed to help people practice investing," said Justin Zacks, Vice President of Moomoo Technologies Inc., North America. "This Challenge has positively reaffirmed the feature's impact on our users. We plan to host more paper trading competitions in the future to enhance our users' investing skills and financial literacy."
"Moomoo's Paper Trading Challenge provides an opportunity for retail investors to learn more about in-depth market data, such as Nasdaq TotalView®, which we believe can help them to make informed and smarter investment decisions," said James McKeone, Head of Data APAC, Nasdaq.
Moomoo is committed to providing innovative and supportive tools for investors of all skill levels, promoting financial knowledge and inspiring confident investment strategies worldwide.
[1] The Return refers to the accumulative return, which is the total amount of profit or loss in the user's paper trading account during the Challenge.
[2] The Average Return refers to the average of the accumulative paper trading returns from the global top 100 challengers during the Challenge.
[3] Users of Moomoo Technologies Inc. and its affiliates as of 11/19/2024.
Disclaimer
The Paper Trading feature in the moomoo app is for educational purposes, enabling simulated trading with virtual funds using live market data. Any orders, returns, costs, and other aspects within Paper Trading are simulated. Virtual performance does not ensure success in a live trading environment.
The testimonial provided herein was paid and may not represent other customers' experience, and there is no guarantee of future performance or success. Cash Rewards represent potential credits for eligible equity purchases in your moomoo brokerage account and hold no other value.
Moomoo is a client of Nasdaq TotalView®.
About moomoo
Moomoo is a leading global investment and trading platform dedicated to empowering investors with user-friendly tools, data, and insights. Our platform is designed to provide essential information and technology, enabling users to make well-informed investment decisions. With advanced charting tools, pro-level analytical features, moomoo evolves alongside our users, fostering a dynamic community where investors can share, learn, and grow together.
Founded in the US, moomoo operates globally, serving investors in countries such as the US, Singapore, Australia, Japan, Canada and Malaysia. As a subsidiary of a Nasdaq-listed company, we have received numerous international accolades from renowned industry leaders such as Benzinga and Fintech Breakthrough. Moomoo has also received multiple awards in the US, Singapore, and Australia for its cutting edge, inclusive approach to investing.
For more information, please visit moomoo's official website at www.moomoo.com
