Moomoo Review

Moomoo is a brand-new online stock broker in the U.S. It allows you to switch stocks, ETFs, and alternatives without paying any costs. It’s a smart trading device that allows us to trade globally with people in the U.S., Singapore, and Australia. Moomoo, FinTech Futu Holdings Ltd (FUTU), is listed on the Nasdaq. Moomoo has a robust trading platform for both phones and desktops. It provides some of the same issues as various top brokers. This publication will give you a detailed review of Moomoo in 2024.

🏢 Headquarters United States
🗺️ Regulation SEC, FINRA, SIPC, ASIC, MAS
💻 Trading platform: Desktop Platform, Mobile App
💰 Account currency: USD, HKD, SGD
💵 Withdrawal: Wire Transfer, ACH Transfer
🚀 Minimum deposit: $0
🔧 Instruments: Stocks, Options, ETFs, ADRs, OTCs
📋 Orders execution: ECN/STP
☎ Customer Support 24/7 (Call/ Email)
📚 Education
Comprehensive Educational Resources

What is Moomoo?

Moomoo is a corporation primarily based in California that allows people to buy and promote stocks and other investments. It is part of several important companies that ensure the whole thing is well finished. Moomoo started in 2018 and is owned by Futu Holdings Ltd. The Moomoo platform is easy to use and has tools to help you spot the inventory market better. You can trade stocks, ETFs, and options without paying interest.

For individuals who recognize the load around trading, Moomoo has a unique feature that offers you information and indicators to respond to market changes quickly. You can see stock fees in the U.S., China, Hong Kong, and Forex markets. Plus, you can create different chart styles to fine-tune how your investments are doing.

Pros and Cons

Pros Cons
Moomoo doesn’t charge commissions on stocks, ETFs, and options. Moomoo offers limited types of products and accounts.
Its trading platform is advanced and can be customized. Transfer-out rates are high.
You get access to advanced research tools. Some people find the tools and trading platforms overwhelming.
Free real-time Level 2 market data (NYSE) is provided. You can deposit/withdrawal via bank transfer only.
You can practice trading for free with paper trading. Only one account base currency.
Moomoo offers low-margin rates. Two-step (safer) login is not available.
You can invest in Hong Kong and China through Moomoo. Touch/Face ID login is not available.


We’re happy to see that there are no fees when you open an account, keep it active, or don’t use it. This means traders can determine how much money they make for each trade. Our tests show that U.S. residents don’t have to pay fees when trading stocks, ETFs, or options on Moomoo. However, if they trade Hong Kong or A-Share stocks, they have to pay a 0.03% fee, along with platform fees.

Here’s a comparison of fees between Moomoo, Webull, and eToro US:

  Moomoo         Webull  eToro US
Options Contract Fee $0       $0.55 $0.65
Annual Margin Rate 6.8%  9.74% 8.33%
US Stock/ETF Commission   $0       $0       $0      

Moomoo Regulation and Security

Moomoo Financial Inc. follows rules from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These groups have strict rules to protect customers. Moomoo is also part of the Securities Investor Protection Corporation (SIPC), which can give up to $500,000 to customers if Moomoo fails. Moomoo keeps your info safe with encryption.

Deposits and Withdrawals


Moomoo lets you start trading without needing a minimum deposit, which is good for beginners. You can use four different currencies: USD, HKD, SGD, and CNH, depending on where you live. You can add money to your account using Automated Clearing House (ACH) or bank wire transfers.

  • ACH Transfer: No fee, takes 5 business days, max $5,000 per transaction (U.S. banks only)
  • Domestic Bank Wire Transfer: $10 fee, takes 1-3 days
  • International Bank Wire Transfer: $10 fee, takes 1-3 days

You can also get “instant buying power” on U.S. stocks and IPOs, which lets you trade up to $1,000 without waiting for your deposit to clear. If you have enough money in your account, you can get up to $2,000.


There’s no fee for withdrawing money using ACH transfers, but domestic bank wires cost $20, and international bank wires cost $25. You can withdraw up to $10,000 at a time, but you can make several withdrawals if necessary. Processing withdrawals takes about 5 business days, and you can only withdraw in USD.

Is Moomoo safe and Legit?

Yes, Moomoo is safe. It follows rules from the SEC and FINRA in the U.S. and from the Monetary Authority of Singapore (MAS) in Singapore.


  • 2021: Best Trading Technology and Best Online Stock Broker by Benzinga
  • 2021: Best Active Trading App by Investing Simple
  • 2022: Best Trading Platform by Fintech Breakthrough
  • 2022: Best Investment Research Tech by Benzinga
  • 2023: Investment & Wealth Management Awards by Singapore Business Review (SBR) Fintech

Account Types

At Moomoo, you can only open an individual taxable account. They don’t offer joint accounts or IRAs. This might be a problem if you need a different kind of account. Other top brokers offer seven or more types of accounts. Even Robinhood, which used to only offer individual taxable accounts, now also has IRAs.

Trading Platforms

Moomoo has a trading platform for computers that works on Windows and Mac. They also have a mobile trading app for Android and iOS. You can sync your account settings and alerts on both. But they don’t have a trading website. The platform is easy to use, and you can change it however you like. You can set up alerts for when stocks change or other important things. You can also see different kinds of information about stocks and get ideas for trading. 

Research & Education

Moomoo has lots of tools to help you research and invest. You can use their screeners to find good investments. It does offer educational courses to assist traders in understanding and navigating the platforms. The “Learn” section features a comprehensive selection of investment courses with detailed articles, webinars, and tutorial videos. Additionally, there is a Library that is helpfully categorized into broad topics, including stocks, fundamental analysis, and options.

Customer Service

Moomoo cares about helping its customers. They have a strong support system that quickly solves any trader’s problems. Moomoo uses live chat, email, and phone calls to help traders choose how they want to reach out. They’re available even outside regular hours to help traders from different time zones.


So, looking at the Moomoo overview, it is a reliable and easy-to-use device for both new and experienced investors. It does not require a minimum deposit, which is excellent for people with less money to invest. They provide a demo account and have excellent analysis facilities. You can get help via live chat, email, or phone. However, they don’t provide many items from past stock, and we hope they’ll have more ways to reach customer support. Moomoo is a great asset, specifically for people in the U.S.


Is Moomoo a real brokerage firm?

Yes, Moomoo Financial Inc. in the U.S. is registered with and regulated by the SEC and FINRA. As a member of SIPC, your funds are protected up to $500,000 (including $250,000 for cash claims).

What can I invest in with Moomoo?

On Moomoo, you can trade stocks, options, ETFs, American Depositary Receipts (ADRs), Hong Kong and A-Shares Markets, and OTCs.

How much does Moomoo charge for trades?

There are no commissions per trade or account minimums. However, you should be aware of other fees, such as those for wire transfers and phone trades.

Does Moomoo have customer support?

Yes, Moomoo offers 24/7 live chat support.

Can I open a Moomoo trading account in the U.K.?

No, Moomoo trading accounts are currently only available for U.S. residents. Similar to T.D. Ameritrade, Moomoo doesn’t offer trading options to U.K. or E.U. residents.

What is Moomoo’s buying power?

Moomoo provides instant interest-free ‘buying power’ up to $1,000 while your account funding is settling. This amount becomes withdrawable cash after 7 days or when a deposit settles.

Moomoo Licenses:

  • Moomoo Financial Inc. – authorized by SEC (USA) CRD: 283078/SEC: 8-69739
  • Moomoo Financial Inc. – member of FINRA & SIPC (USA)
  • Futu Clearing Inc. – authorized by SEC (USA) CRD: 298769/SEC: 8-70215
  • Futu Securities (Australia) Ltd. – authorized by ASIC (Australia) ACN 095 920 648
  • Moomoo Financial Singapore Pte. Ltd. – authorized by MAS (Singapore) license no CMS101000