Global investment platform Moomoo has launched its inaugural global paper-trading challenge, offering participants the chance to trade US stocks and ETFs risk-free.
The competition, themed "Learn. Trade. Win", spans five weeks and invites participants from Australia, the United States, Canada, Singapore, Malaysia, Japan, and Hong Kong to test their trading skills via the moomoo app using real-time market conditions.
Challengers will use moomoo's paper trading feature to simulate trades, allowing them to record their hypothetical investment activities and track the performance over time. The challenge is designed to build confidence among investors and enhance trading skills through practical application.
Participants have access to professional-level tools and market insights, including Nasdaq TotalView, a feature provided as part of a partnership with Nasdaq. Nasdaq TotalView offers 60 levels of bid and ask quotes, giving participants insights into market depth and order volumes.
Moomoo's global strategic partner, Nasdaq, supports participants by providing complimentary access to Nasdaq TotalView and additional investing courses, aimed at teaching better investing decisions and strategies.
"This initiative marks the inaugural global paper-trading challenge organised by moomoo, a financial education initiative we believe is both essential and inspiring. This challenge offers retail investors a unique opportunity to hone their investing skills, learn from peers, and engage in an interactive community," said Moomoo Technologies Vice President of Strategy Justin Zacks.
Brandon Tepper, Senior Vice President, Global Head of Data at Nasdaq, commented, "Nasdaq empowers moomoo's clients, and the participants of the global paper-trading challenge, with Nasdaq TotalView, an advanced market data solution that provides transparency and access to US markets. The participants can learn a lot about US investments – we wish them all the best of luck and hope they enjoy the trading experience."
The challenge offers prizes worth USD $100,000. Participants achieving a positive profit or loss on a weekly basis stand to win a share of USD $20,000 each week. The top three overall traders in each region will also receive additional cash prizes.
The individual with the highest cumulative return globally will be awarded USD $10,000, while the runner-up and third-place finisher will receive USD $3,000 and USD $1,000 respectively. The top three will also be featured in a video broadcasted on the Nasdaq Tower in New York City's Times Square.
