Competition schedule
Moomoo's paper-trading championship ("The Competition") runs from January to March, consisting of three separate matches in each month, with each match's sign-up and competition timelines as follows.
January match
Sign-up from December 30, 2024, 12:00am (AEDT) to January 31, 2025, 9:00am (AEDT).
Active competition dates are December 30, 2024, 12:00am (AEDT) to February 1, 2025, 9:00am (AEDT)
February match
Sign-up window: December 30, 2024, 12:00am (AEDT) to February 28, 2025, 9:00am (AEDT)
Active competition dates: February 4, 2025, 1:00am (AEDT) to March 1, 2025, 9:00am (AEDT)
March match
Sign-up window: December 30, 2024, 12:00am (AEDT) to March 31, 2025, 9:00am (AEDT)
Active competition dates: March 4, 2025, 1:00am (AEDT) to March 31, 2025, 9:00am (AEDT)

Entry instructions
How to sign-up 
Tap the 'Join Now' button on the event page.
Or, within the app, navigate to Discover > Papertrade > Competition > Available, select January match/February match/March match, and tap "Join Now".
How to start paper trading
To begin trading, go to Discover > Papertrade > Competition > Ongoing and select the January match/February match/March match account for the competition.
Eligibility
Moomoo's paper-trading championship is organised by Moomoo Securities Australia Ltd (AFSL:224663) trading as Moomoo AU, ABN 51 095 920 648 ("Moomoo AU") and is open to Moomoo AU users who are Australian residents over 18 years of age. Eligible users who successfully signed up for the competitions are referred to as "Participants".
Although it is not an essential requirement to have a live share-trading account with Moomoo AU to enter the competition, the redemption of certain rewards and prizes won in the competition, if applicable, may require a valid and current Moomoo AU account.
Prize details
The prizes for Moomoo's paper-trading championship are as follows.
Leaderboard prizes: the top three earners in each match receive five, three and two NVIDIA shares respectively, a printed certificate, and a chance to interact with moomoo executives during the final award ceremony.
Participation prizes: those achieving weekly positive earnings throughout the championship are entered into a weekly split of 100,000 points.
Quarterly champion special prizes: Moomoo's paper-trading championship consists of three matches. Each match brings a new monthly champion. The one with the highest earnings after three matches is deemed the quarterly champion and receives 20 additional NVIDIA shares.
New Year's special prizes: those ranking from fourth to 10th in the first match of the year are rewarded with a $50 Flight Centre gift card.
*Rewards will be distributed in the following schedules: Leaderboard prizes (within five business days following each match), Participation prizes ( in the following week), Quarterly champion special prizes (after the final award ceremony), and the New Year's special prizes (within five business days after the first match).
*Prize certificates will be distributed at an offline ceremony after the championship ends or can be mailed if preferred.
The exact date of the final award ceremony will be announced once confirmed.
Ranking criteria
Rankings are based on the total yield, calculated by taking the Ending Account Balance, dividing it by the Starting Account Balance, subtracting one, and multiplying by 100%.
The Ending Account Balance is calculated using the latest prices. The prices will be refreshed every 5 minutes. However, when calculating the weekly ranking, the closing prices on the last trading day that week will apply; when calculating the final ranking of the Competition, the closing prices on the last trading day of the Competition period will apply.

Paper-trading cards
By using a Reset Card, participants can restore their account's initial virtual balance.
By using an Insight Card, an account's holdings and trading history will be hidden from other participants for 24 hours.
By using an Insight Card, participants can view the holdings and trading history of another participant's account that has not activated a Defense Card for 24 hours.

Rules for Moomoo's paper-trading championship
US markets only. The Competition is limited to trading in stocks, ETFs, stock options, ETF options, and index options listed on US exchanges.
Starting Capital. Each Participant's Account will be funded with US$500,000 dollars in virtual money.
Regular Trading Hours only. Monday to Friday from 9:30 to 16:00 (ET).
Margin Trading & Short-selling. Both margin trading and short selling are permitted. The initial margin for long stock positions is 50%, with a maintenance margin of 40%; for short stock positions, the initial margin is 60%, with a maintenance margin of 50%. The margin calculation method in the simulated trading system may not be entirely consistent with live trading; specific margin requirements are subject to the simulated trading system. The short-selling interest is calculated at an annualised rate of 6%, while the margin financing interest is calculated at an annualised rate of 4.8%, collected after the market closes daily.
Order Limitations.
Securities. To ensure professionalism and compliance during the Competition, there will be a minimum trading price limit of US$1. When a stock price falls below US$1, you may sell stocks but will not be able to buy.
Max orders per day. No more than 200 orders (not including order cancellations and modifications) may be placed in one trading day.
Position limits. Accounts may not hold more than 100 positions, including pending orders.
Concentration. Single option contract position. No more than 1000 contracts.
Concentration. Single stock holdings. No more than 40% of total assets may be concentrated in a single stock. Holdings exceeding 40% due to stock price movement or option exercises are not affected by this rule.
Trade Execution Simulation. For stocks or options, simulated orders are matched to real trades in the market. Simulated trades can only occur after real transactions. If the real transaction volume is less than the simulated order quantity, partial execution occurs, with the remaining simulated order retained in the matching queue. For multi-leg option orders, simulated orders are matched to real market data. Simulated trades can only occur while the last prices of both legs are between the bid price and the ask price.
No fees. Trading fees are deducted in the paper trading system. They do not involve any real expenses. No actual costs are incurred.
Any profits generated through system vulnerabilities will result in the cancellation of competition results and qualifications.
The quotes of the paper trading system are not exactly the same as the real stock market. Data of the Competition is based on the paper trading system.
Each user can only participate in the Competition with one moomoo ID. If any participant obtains revenue through deceptive means or loopholes, he/she will be disqualified from this competition.
Participants can't place paper trading buy orders if their virtual assets are insufficient within the competition account.
Paper trading orders are matched considering the ticker data in the real market. Orders will not be executed without sufficient trade volume, even if the order price is acceptable. In instances where the real market volume is insufficient for the full order, only the available volume will be executed, and the rest will remain pending in the order queue.
Trading fees mirror those of the real market. Minor variations from the actual market fees are adjusted to those of the paper trading system. The paper trading system incurs no actual costs. Any fees deducted are purely notional.
If a listed company is delisted for any reason and the participant's account holds a virtual stock of that company, the participant will be unable to trade the stock in subsequent competition days. The system will credit the virtual funds to the participant's account on the second working day based on the last closing price of that stock.

General terms and conditions – paper-trading competitions
The Moomoo App is a financial information and trading platform developed by Moomoo Technology Inc. In Australia, Moomoo Securities Australia Ltd (Moomoo AU) provides the financial products and services available through the Moomoo App. Moomoo AU holds an Australian Financial Services License (224663) and is regulated by the Australian Securities and Investments Commission (ASIC)
Investing and/or trading in securities markets involves risks and may not be suitable for all investors. Clients willing to participate in this Promotion must read and understand the Financial Services Guide, Risk Disclosure Statements, and other legal documents, which are available on the website (www.moomoo.com/au) before making any investment decisions.
The US stock paper trading account (collectively as "Competition Accounts") are virtual trading accounts and can only be used for the Competition under this terms and conditions;
The Competition Accounts do not have any actual cash or other asset value, and the virtual funds in the Competition Accounts cannot be withdrawn and used as cash;
Participants understand and agree that the organiser will display or use their corresponding user nicknames, avatars, Moomoo App accounts, total income, holding positions, and transaction information during this competition and activities;
All virtual buying and selling and other transactions conducted through the Competition Accounts are virtual in nature, and all entered instructions will not be sent to any Stock Exchange, and will not be traded in the real market. Execution will not constitute any settlement obligation or payment payable by the participant or the Company, nor will it apply to the rights and liabilities involved in the securities trading services and any other services provided by the Company that the participant has accepted;
Certain rewards won in the Competition may have tax implications, and participants may be liable for capital gains tax on the entire value of the gift shares when sold. This is dependent on each participant's personal circumstance and participants should seek advice from a tax professional. There may be other applicable taxes to consider. Participants are responsible for any tax consequences, if any, that may result from their redemption or use of the Competition Rewards.
At its sole discretion, Moomoo AU reserves the right to cancel, terminate, modify or suspend this Competition and invalidate any affected participations, or suspend or vary a reward, without any further notice or assuming any liability to any person(s).
Any information, including market data, supplied by Moomoo AU in relation to the Competition applies only to this Competition, and such information does not constitute an offer, recommendation or solicitation for the purchase or sale of any securities. It is not intended to be, nor does it constitute any form of financial advice.
The Competition Rules do not necessarily correspond with the actual trading requirements of the relevant exchanges, any other securities market, or any securities regulatory authorities in Australia or elsewhere.
The simulated order queuing, order matching, and other trading processes used in the Competition do not necessarily correspond with the actual underlying exchanges or any other securities markets in Australia or elsewhere.
Moomoo AU shall not assume any liability for any financial or nonfinancial losses incurred to any person in connection with the Competition, however arising, including but not limited to losses incurred from live trading.
Moomoo AU reserves the right, in its sole discretion, to refuse to allocate any or all of the above benefits if it believes that the client is ineligible to participate in the Competition, or that the client is engaging in, has engaged in, attempted or caused to engage in activities in violation of the Terms and Conditions. In such cases, Moomoo AU's decision will be final, and no further correspondence will be entered into.
If a participant commits any cheating behavior, the organiser has the right to cancel the results, and the final interpretation right of the event belongs to Moomoo AU within the scope permitted by law;
Moomoo AU is not responsible for any errors, omissions, interruptions, deletions, defects, or delays in communication line transmission;
Moomoo AU is not responsible for any problems or technical failures of any telephone network or lines, computer online systems, servers or providers, computer equipment, software, or failure to receive any email entries due to technical problems or communication congestion;
Moomoo AU is not responsible for any harm to a participant's or any other person's computer resulting from participation, submission, or notification in connection with this contest, or any form of human error on the Internet or any website, or any combination thereof;
Moomoo AU is not responsible for any losses or injuries caused by participating in the Competition, 1) any communication errors related to the Competition, 2) any problems with the prizes; 3) any use of rewards. Participation in the Competition constitutes the participant's agreement to exempt Moomoo AU from any liability.
Moomoo AU has the right to modify or cancel the competition process, rules, awards, instructions, etc., according to the actual situation and will try its best to notify the participants in advance as soon as possible. Moomoo AU has the right to interpret the rules of this competition, and Moomoo AU has the right to make changes to the Competition, including but not limited to making modifications to rules and procedures;
To use the rewards earned, you must hold a corresponding Moomoo trading account. Before redeeming the cash coupons issued by the event, the winners need to open a securities account in the corresponding market to receive the corresponding rewards;
If the operation of the Competition is abnormal due to various reasons, Moomoo AU has the right to make corresponding handling and deal with the buying and selling operations during the abnormal period;
By participating in the Competition, participants agree to (1) be bound by these terms and conditions; (2) Moomoo AU's decisions on all matters related to the Competition are final and binding; (3) Moomoo AU may use the winner's results and the winner's nickname, likeness and/or voice in any publicity or advertising related to the Competition or future promotions without compensation or approval to the largest extent permitted by the law. All applicable taxes, fees and surcharges, and/or foreign duties on prizes are the sole responsibility of the winner;
Moomoo AU reserves the right to make the final decision on any changes in the rewards. Please pay attention to the notice (if any) sent by Moomoo AU on changes in gift rewards.
The same user can only participate in one event. The same Moomoo account, the same mobile phone number, and the same device are all considered to be the same user.
Rewards are issued strictly in accordance with the rules. If there is any situation that does not meet the qualifications for the event, special applications for reissue of rewards cannot be made.
Rewards may have a validity period. If you do not claim or use the rewards in time within the validity period, the rewards will not be reissued after expiration/expiration, and you will be deemed to have automatically given up your qualifications to win.
The information and data confirmation of this Competiton are subject to confirmation by Moomoo AU, and Moomoo AU enjoys the final right of interpretation of this Competition;
This Competition is not an offer, recommendation, or solicitation for the purchase or sale of any securities. It is not intended to be, nor does it constitute any form of financial advice.