Moomoo Cash Plus Review: Earn up to 2.5% to 5.5% p.a. on Your Idle Cash
Last Updated on 1 year ago by Antony C.
Moomoo Cash Plus is known to be one of the best cash management account in Singapore, but is it really that good? Lets find out if you should grow your idle money in Moomoo Cash Plus to meet your financial needs.
Moomoo Cash Plus Review
Minimum investment: $0
Stock/ETF Commission Fees: $0 for US, 0.03% for SG, HK
Options Fees: $0.65 Per Contract
Markets: United States, Hong Kong, China, Singapore
Suitable For: Beginner and Experience investors looking to invest in both locally and internationally.
Cash funds have an historical returns of approx. 2.5% to 5.5%, thus if we visualize the difference between your return on CPF vs putting money into your cash fund account (like Moomoo Cash Plus) at 4.5% return, here is a simple graph on your ROI for your $10,000 investment.
With a simple calculation, here’s what you’ll get over 446% growth in your idle cash in 35 years when you put your money into Cash Fund.
| CPF | Cash Fund (E.g. Moomoo Cash Plus) | |
|---|---|---|
| Interest Rate (Approx.) | 2.5% Per Annual | 4.5% Per Annual |
| 35 Years ROI on $10,000 | $23,153 ($10,000 Principle + $13,153 Earned) | $44,664 ($10,000 Principle + $34,664 Earned) |
| 35 Years Investment Growth | 231% Growth | 446% Growth |
What is Moomoo Cash Plus?
Moomoo Cash Plus is a Cash Management Account (CMA) offered to help your to grow your idle cash while offering you the full flexibility to withdrawing your cash anytime you want.
With Moomoo Cash Plus, it aims to help you:
- Grow your principle through relatively safe investment
- Earns you a respectable interest
- Maintain high level of liquidity for reallocation of your funds anytime.
How Moomoo Cash Plus Work?
The cash management account works through growing your money in cash management fund which offers returns for your spare cash while offering your idle cash with greater flexibility in withdrawing your money anytime you want.
The combination of high interest return, low risk and high level of liquidity for your cash funds makes cash management account like Moomoo Cash Plus popular amount experienced investors.
What Does Moomoo Cash Plus Invest In?
Fund on Moomoo Cash Plus includes; CSOP USD Money Market Fund and Fullerton SGD Cash Fund.
As of today, the CSOP USD Money Market Fund offers a 7-day annualized yield of 4.67% and Fullerton SGD Cash Fund offers an annualized yield of 3.82%.
Each of the money market funds on Moomoo offers a different potential return as each fund have a different composition on what it is invested in for the funds.
And for a better perspective here are some of the breakdown of the funds.
CSOP USD Money Market Fund Break Down
CSOP USD Money Market Fund consist of mainly from fund of the different international banks such as from China, Singapore and US treasury bills.
Traded in USD, you’ll need to invest in this fund using USD through the Moomoo SG trading App.
Fullerton SGD Cash Fund Break Down
Fullerton SGD Cash Fund consist of fund from various international banks such as from Canada, Japan, Germany, China, Qatar and Singapore.
Traded in SGD, you can buy these funds directly using Singapore Dollar from your Moomoo SG Account or direct deposit from your bank.
What is Moomoo Cash Plus Interest Rate?
The interest rate you can potentially gain from investing in Moomoo Cash Plus can fluctuate depending on the underlying assets its it managing.
With the current 7-day annualized yield, you can expect an interest rate of approx. 2% to 5% return for your idle cash, which is much higher than other low risk investment such as bank deposits of approx. 1.5% or Singapore Savings Bonds of approx. 2% or CPF of 2.5%.
CSOP USD Money Market Fund and Fullerton SGD Cash Fund are both great ways to let your idle cash work harder. However, it is good to note past performance should not be viewed as an indicator of future results.
Moomoo Cash Plus Promotion
Moomoo Singapore is always running some form of promotion for new customers and offers perks for current customers (like me) to help us in our investing journey.
Eligibility Criteria
- Moomoo new users who signs up for a Moomoo SG universal account and make their initial deposit.
- Existing users who has an existing Moomoo SG universal account with no deposits.
- Users who have not benefitted from previous campaign.
- Claim up to S$1,200* worth of Free Stocks + Trading Option Gifts + Exclusive Bonus.
- Earn a return on idle cash with Moomoo Cash Plus
- Low commission fee for SG & HK stocks, ETFs & options.
- Lifetime $0 commission free* for US stocks.
Moomoo Promo: Low Commission + Free Stock
Note: All information are taken from the Moomoo SG website and their T&C, while I’ve ensure accuracy of the information to the best of my capabilities, do check their website for more information.
For all other promotions with Moomoo SG, you can check out my other article:
What are The Benefits of Moomoo Cash Plus?
1. Easy Way to Earn Interest Without Any Work
Cash Management Account like Moomoo Cash Plus is one of the easiest way for you to generate potential returns on your uninvested cash.
With Moomoo, it offers a new feature, called the “SmartSave“.
With this feature it enables you to fully automate your uninvested cash to earn a higher interest, while giving you the full liquidity to utilize the cash when you want to use it to buy stocks.
2. Low Cost and No Cost
As of writing, Moomoo Cash Plus is totally free with 0% subscription fee and 0% redemption fee, meaning you can deposit and withdraw your cash at totally no cost at all.
Generally, for many other cash fund providers they will require investor to pay a small subscription or redemption fee which can add up over time. But for Moomoo, they offer this service for free, helping you get higher potential returns for your idle cash.
3. Low Minimal Deposit
Moomoo Cash Plus is designed for both new investors and experienced investors because you’ll only need $0.01 to start your Cash Plus account.
4. Flexible And Quick Redemption or Withdrawal
All your deposited cash in the Moomoo Cash Plus account can be withdrawal anytime you want, giving you full flexibility on how you want to use your cash.
5. Easy Subscription
With Moomoo Cash Plus, they offer RSP of your fund, allowing you automates your investing into the cash fund without you needing to do any work.
Steps to subscribe for RSP for Moomoo Funds:
- “Click” on the fund you are interested.
- “Create” an RSP.
- Set a frequency for investing. (Daily, Weekly, Every 2 Weeks or Monthly)
- Put the amount you want to invest. It can be as low as $0.01.
- Hit “Create” and you are done!
What Are The Risk of Putting Your Money With Moomoo Cash Plus?
When you are putting your money anywhere, it is always wise to know what are the possible drawbacks you might get. Here are some of the most common “risk” you will need to know.
1. No Guaranteed Interest
Moomoo Cash Plus like many other cash management account do not offer guaranteed interest, meaning the interest you get will fluctuate as time goes.
Today, the cash fund offers a 7-day annualized yield of 4.5%, and 1 month later, it may offer 4.9% or 4.4%. The market funds on Moomoo cash plus aims to generate potential returns but how much you get varies.
2. Your Returns Depend on Performance of Money Market Funds
Generally for the past 5 few years, the fund offers mostly a positive 7-day annualized yield even during the pandemic period. However, like all investment, any funds can have a negative return during black swan events.
However, till date, it is rare to see any negative return from the fund.
Even during Covid pandemic, the return only drop to close to 0% but not below 0%. The fund was making a positive return even during the Covid, this make it pretty safe form of investment.
(I’ve tried to look around, and I’ve not seen any negative monthly returns since their inception.)
Is Moomoo Cash Plus From Moomoo Singapore Worth It?
Moomoo Cash Plus would be a great place to park your uninvested cash and it is a great alternative to setting up a fix deposit in the bank or subscribing to Singapore Saving Bonds or Singapore T-Bills.
Big reason you may want to open a Moomoo Cash Plus account includes these benefits:
- Higher level of flexibility to withdraw your money anytime
- Low cost (no cost) to subscribing to Cash Plus Account.
- Low minimal deposit ($0.01) to get started.
- High interest return of over 3% to 6% on your idle cash.
- Automate investment of your cash on a relatively safe investment option.
What Will I Do As An Investor?
As an investor myself, I have been using Moomoo App to do many of my day-to-day investing in the Singapore, Hong Kong and United States market.
- I buy and sell stocks on Moomoo App.
- I do my fundamental analysis on the App.
- I do my Technical analysis on the App.
- I read on the latest market updates on the App.
- I do my research on the latest financials of the company on the App.
- Claim up to S$1,200* worth of Free Stocks + Trading Option Gifts + Exclusive Bonus.
- Earn a return on idle cash with Moomoo Cash Plus
- Low commission fee for SG & HK stocks, ETFs & options.
- Lifetime $0 commission free* for US stocks.
Moomoo Promo: Low Commission + Free Stock
Personally, I think opening a Moomoo Cash Plus account and deposit my uninvested cash in the account is a great way to grow my uninvested cash while letting me use the money to invest anytime I want within the same platform.
- Quick subscription and redemption with $0 fees.
- No withdrawal limits and high level of liquidity.
- Relatively safe underlying fund selection.
How to Signup for Moomoo Cash Plus Singapore to Get Higher Interest?
Signing up for Moomoo Cash Plus is simple and it only takes you 5 steps:
- Open your Moomoo App and click on the “Funds” icon.
- Choose your “Cash Plus” funds to invest; CSOP USD Money Market Fund (USD) or Fullerton SGD Cash Fund (SGD).
- Click on the “Subscribe” button to subscribe for the fund.
- Enter the amount you want to subscribe. (min. $0.01)
- Click “Subscription” and you’ve subscribe the funds.
4.01%
p.a. (Approx.)
$2,005
Est. earning over 1 year at $50,000
- $1 Min.
- No Lock-in
- No Redemption Fee
- No Subscription Fee
How to Withdraw Money From Moomoo Cash Plus?
Withdrawing funds from Moomoo Cash Plus is a straightforward process. Users can initiate withdrawals through the app or website, and the funds will be transferred to the linked bank account.
- Open your Moomoo App.
- Click Accounts and Scroll down to your Universal Account
- Click Funds then Click The Fund You Want to Redeem
- Click Redeem and Choose Your Redeem Amount
- Click Redeem.
And it is as simple as that!
Moomoo Cash Plus Withdrawal Limit
No withdrawal limit for Moomoo Cash Plus.
You can simply withdraw all you cash when you need it, making it a great account to put aside you cash while waiting for an opportunity to invest in the market.
Moomoo Cash Plus Withdrawal Fees and Subscription Fees
No, there is no withdrawal fees or subscription fees for Moomoo Cash Plus.
Moomoo Cash Plus is one of the few Cash Management Account that has zero subscription and redemption fees allowing investors to get started investing with as little as $0.01.
I’ve actually tried subscribing $0.01 to Fullerton SGD Cash Fund, and withdraw it the next day, and it is good to know that there is no fees for the whole process.
How Long Does Moomoo Singapore Cash Plus Withdrawal Take?
Time take for withdrawal can take up to 1 business day for the redemption to be completed according to Moomoo’s website. This time frame is totally depending on your withdrawal amount and currency.
According to my own experience, withdrawal was completed immediate within 1 minutes when I withdraw my money. This is much faster than what Moomoo says. The possible reasons are:
- I withdraw Singapore dollar from the Cash Plus Account
- I withdraw only a small portion of my total amount.
Anyway, just take note the withdrawal time is from “immediate” (my case) to “1 day” (per stated in their website)
Frequently Asked Questions (FAQ) for Moomoo Cash Plus
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Disclaimer: All views expressed in the article are independent opinion of the author, based on my own trading and investing experience. Neither Moomoo Singapore or its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.
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Antony C. is a Singaporean dividend investor focused on building passive income through REITs, ETFs, and Dividend Stocks. With 15+ years of experience investing in Singapore, Hong Kong, and China markets, he founded IncomeBuddies.com to share practical wealth-building strategies tested in his own portfolio since 2008. His expertise has been featured in Yahoo Finance, Nasdaq, and NFAA, and he’s the published book author of "Start Small, Dream Big".
Hi
You mentioned interest not guaranteed, what about the capital invested into moo cashplus?Is it guaranteed?
Hi KG! Moomoo Cash Plus is an CMA where you buy into their cash funds, and like all investment, there are risk involved, thus there is no guarantee on your capital. Not any investment advice, but just sharing of my experience with Moomoo, I personally put some cash into my Cash Plus account, not a lot, just a small amount which I am planning to use to invest when opportunity come.