To The Moon

Here’s why we don’t recommend using Cashboost account despite the Tiger community recommendation:

Not suitable for inexperienced traders:

It is easy to gain profit, but hard to keep profit. Cashboost short-term trading requires a lot of experience to know when to enter and when to exit.

Short timeframe requires timing the market

Even in terms of buying a dip, the average recovery of a dip nowadays is around 4-5 working days as the market is mostly moving side-way. So you might need to sell before you see a recovery.

Very high commission and platform fee deters active buying and selling:

After their free commission period, a transaction of $20k worth of stocks amount cost approximately $90-100 fees(buying and selling). As shown, USD36 per single buy/sell. So you need to earn at least $200 per trade in order to profit from it.

For what it is worth, experienced traders can earned more from options trading instead because the nature and risk of cashboost trading (short term) is akin to options, but the rewards for cashboost is lower.

There are certainly some traders who have earned from using cashboost and we are happy for you. This article is written for those who want to try out cashboost account, these are the things you have to look out for. 

When we compare the performance of our margin accounts (on Tiger, Webull, and moomoo) vs cashboost account in the same period, cashboost account underperforms a lot as these super high commission plus short timeframe deters making good decisions. 

For comparison, our margin account (Moomoo) currently has YTD 20% return as compared to SP500's 1.16%. We are experienced enough to know when to enter, hold and exit. Cashboost account isn't suitable for holding and not for active speed trading. If you do fast trades of $200-300 profit multiple times, the minimum charge will take up 30-50% of your profits which is super expensive. You can just take a bank loan at lower rate.

It would be better to take a proper loan or trade options instead.