Moomoo x Qoder AI Trading Agent Challenge

Moomoo Qoder

1. Eligible Products and Trading Hours

  • Only U.S.-listed stocks, ETFs, and options may be traded. All other instruments are excluded.
  • Trading is available during U.S. pre-market, regular, and after-hours sessions, from 4:00 AM to 8:00 PM ET.

2. Account, Margin and Short Selling

  • Each participant starts with USD 100,000 in virtual funds.
  • Margin trading and short selling are available.
  • Margin requirements:
    • Long positions: 50% initial margin; 40% maintenance margin.
    • Short positions: 60% initial margin; 50% maintenance margin.
  • Interest is charged daily after market close:
    • Margin financing interest: 4.8% per annum
    • Short-selling interest: 6.0% per annum

3. Trading and Position Limits

To support fair and orderly competition, the following restrictions apply:

  • Stocks priced below USD 1 are not eligible for trading.
  • Stocks and options of companies with a market capitalisation below USD 500 million are not eligible for trading.
  • A maximum of 200 executed orders per day is permitted. Cancelled or amended orders are not included.
  • Participants may hold a maximum of 100 positions at any one time.
  • Exposure to any single stock may not exceed 40% of total account assets. This limit will not apply where it is exceeded solely due to price movements or option exercise.

4. Risk Controls

  • If remaining account liquidity falls below zero during trading hours, the system may initiate forced liquidation.
  • Participants are responsible for monitoring their positions, liquidity and margin requirements at all times.

5. Option Expiry and Exercise

  • All in-the-money (ITM) options expiring on a given day will be automatically exercised after market close.
  • Where sufficient funds are available, the corresponding underlying securities will be bought or sold.
  • If funds are insufficient, the system will execute all possible transactions and may forcibly liquidate positions as necessary to meet margin requirements.
  • Out-of-the-money (OTM) options will expire worthless.
  • Index and stock options will be settled using the market closing price on the expiry date.

6. Corporate Actions

  • Supported corporate actions are limited to:
    • Dividends
    • Stock splits
    • Reverse stock splits
    • Ticker-symbol changes
  • If a company is delisted, trading in that security will no longer be available. On the second business day after delisting, the system will credit virtual funds equal to the security’s last closing price to the participant’s competition account.

7. Order Matching

  • The paper-trading system simulates actual market trade-by-trade volume.
  • An order will not be filled merely because its price condition is met; matching market volume must also be available.
  • Where actual market trade volume multiplied by 20 is less than the order quantity, the order may be partially filled. Any unfilled balance will remain pending until matched or cancelled.

8. Virtual Fees

All fees are simulated only and do not represent actual charges.

Stocks

  • Commission: USD 0
  • Platform fee: USD 0.99 per order
  • Transaction activity fee: USD 0.000166 per share sold, capped at USD 8.30 per trade

Options

  • Commission:
    • Option premium above USD 0.10: USD 0.65 per contract
    • Option premium of USD 0.10 or below: USD 0.15 per contract
    • Minimum commission: USD 1.99 per order
  • Platform fee: USD 0.30 per contract
  • Transaction activity fee: USD 0.00279 per contract
  • Regulatory fee: USD 0.015 per contract

9. Competition Settlement

  • Final results will be calculated using regular-market closing prices on the final competition day.
  • The value of options exercised on the final day will be included in the final ranking.
  • Trades executed during after-hours trading on the final day will not be included in competition results.
  • Weekly return figures are based on prices as of 10:00 PM ET each Friday.

10. Reset Card Prohibition and Disqualification

  • The use of any Reset Card, revival feature, or equivalent mechanism to restore virtual funds is strictly prohibited during the competition.
  • Any participant found to have used, attempted to use, or circumvented this restriction will be automatically disqualified.
  • The organiser may revoke the participant’s results, eligibility, rewards and any related benefits.

11. Fair Play and System Integrity

  • Participants who obtain profits through cheating, manipulation, unauthorised activity, or exploitation of system vulnerabilities will be disqualified, and their results and eligibility may be revoked.
  • The paper-trading system is provided by moomoo. Where there is any discrepancy between simulated market data or results and the actual market, the simulation system records and results will prevail.