Summary

Recommended for investors and traders looking for zero-commission trading and focusing on US markets.

Moomoo is a trading-platform founded in 2018. It is a subsidiary of Futu Holdings Ltd. Securities product on moomoo is provided by Futu Inc, which is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Trading on moomoo is safe because its securities product is regulated by top-tier financial authorities and a maximum of $500,000 investor protection is offered, including a $250,000 limit for cash, under the Securities Investor Protection Corporation's (SIPC) protection scheme.

Overall Rating
4.5
Fees
4.7
Account opening
4.4
Deposit and withdrawal
1.9
Trading platform
3.9
Markets and products
2.1
Research
5.0
Customer service
1.5
Education
2.0

moomoo pros and cons

Brokerage service on moomoo offers zero-commission trading with no inactivity fees for U.S. residents trading in the U.S. markets. The account opening is seamless, fully digital and really fast. There are many high-quality analytical tools available.

On the negative side, on moomoo its product portfolio is limited, covering only stocks, ETFs and options. You can use only bank transfers for deposits and withdrawals. Customer support is available via email only.

Pros Cons
Free stocks, ETFs and options Limited product portfolio
Fast and easy account opening Only bank transfer for deposit/withdrawal
Quality analytical tools No live chat or telephone support
moomoo main features and highlights
🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Options

Author of this review

Krisztián Gátonyi

Author of this review

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

moomoo review
Fees

4.7
To find out more about its trading and non-trading fees, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo offers commission-free trading of US stocks, ETFs and options. On the other hand, it has high margin rates.
Pros Cons
Commission-free stocks, ETFs, and options High margin rates
No inactivity fee
moomoo fees snapshot
Assets Fee level Fee terms
US stock Low $0 per trade
EURUSD - Not available
Mutual fund - Not available
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked moomoo's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of moomoo for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared moomoo's fees with those of two similar brokers we selected, Webull and Passfolio. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of moomoo alternatives.

To have a clear overview of moomoo, let's start with the trading fees.

moomoo trading fees

Moomoo trading fees are zero in almost all cases. It's also great that the fee structure is transparent and easy to understand.

Stock fees and ETF fees

Moomoo charges no commission for trading US stocks and ETFs, similarly to its closest competitors.

moomoo stock and ETF commission on a $2,000 trade
  moomoo Webull Passfolio
US stock $0.0 $0.0 $0.0

You can also trade Hong Kong stocks – the commission is 0.03% of the invested amount or HKD 3, whichever is higher.

If you prefer stock trading on margin, you should check moomoo's margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

moomoo margin rates are high.

moomoo annual margin rates
  moomoo Webull Passfolio
USD margin rate 6.8% 7.0% -

Options fees

Moomoo doesn't charge fees for options trading, just like its close rival Webull.

Moomoo stock index options commission of 10 contracts
  moomoo Webull Passfolio
US stock index options $0.0 $0.0 -

Regulatory fees

For US residents, Investing with moomoo is commission-free. The company does not charge you fees to open your account, to maintain your account, or to transfer funds to your account. However, the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) do charge a small fee for stock sell orders. They charge these fees for all sell orders, regardless of the brokerage. Moomoo's operator Futu Inc. doesn’t benefit financially from these charges as it passes them along fully to the relevant regulatory agencies.

Regulatory fees for stocks
Type Fees
SEC Fee (sells only) $0.0000207 * transaction amount, min $0.01 / transaction
Trading Activity Fee (TAF, sells only) $0.000119 / share, min $0.01 - max $5.95
ADR Custodian Fee $0.01 ~ 0.05 / share
Regulatory fees for options
Type Fees
SEC Fee (sells only) $0.0000207 * transaction amount, min $0.01 / transaction
Trading Activity Fee (TAF, sells only) $0.000119 / share
Options Regulatory Fee (ORF) $0.0379 / contract
Options Clearing Corporation (OCC) Fees $0.055 / contract (0-999 contracts), $55.00 / trade (>999 contracts)
Exchange Fees Varies by exchange

Non-trading fees

Moomoo has low non-trading fees. There is no account fee or inactivity fee. Deposit and withdrawal via ACH are also free.

However, both depositing and withdrawing by wire transfer can incur a fee:

  • Domestic wire deposits cost $8 unless it's your first deposit or you deposit more than $25,000
  • International wire deposits cost $25 unless it's your first deposit or you deposit more than $25,000
  • Domestic wire withdrawals cost $25
  • International wire withdrawals cost $45
moomoo non-trading fees
  moomoo Webull Passfolio
Account fee No No No
Inactivity fee No No No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0.25

For commission and fee schedule please visit: https://www.fututrade.com/

moomoo review
Account opening

4.4
To experience the account opening process, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo's account opening process is seamless, fully digital and fast, with no minimum deposit. However, it is currently available only for clients from the US and Singapore.
Pros Cons
Fully digital Available only in the US and Singapore
No minimum deposit
Fast

Can you open an account?

Open account

In our experience, eligible countries can change from time to time, but as of this writing, Moomoo accepts clients only from the US and Singapore.

What is the minimum deposit at moomoo?

The required moomoo minimum deposit is $0.

Account types

Moomoo offers only individual accounts. Joint accounts, IRAs, custodian and corporate accounts are not available.

How to open your account

Moomoo account opening is fully digital, easy and fast. Our account was verified within 1 business day.

You can open your moomoo account on the moomoo website or on its desktop or mobile platforms. We tested the account opening process on its website:

  1. Click 'Sign Up' in the top right corner of the webpage
  2. Type your email address and password and click 'Sign Up'
  3. Drag the slider to fit the puzzle piece (to verify you're not a robot)
  4. Click 'Account' or the cow icon in the top right corner, then "Open Account'
  5. Click 'Open Account Now'
  6. Enter your Social Security Number, valid US address and employment status (if applicable), then click 'Next'
  7. Click 'Send' and you will receive a verification code
  8. Copy the verification code from your email and click 'Verify'
  9. Enter your phone number and click 'Continue'
  10. Verify your email and click 'Next'
  11. Fill in your personal information and answer questions regarding your employment status and financials
  12. Submit your application
MooMoo review - Account opening

moomoo review
Deposit and withdrawal

1.9
To find out more about the deposit and withdrawal process, visit moomoo

or
Compare to its best reviewed alternative: Webull
At moomoo, there is no deposit fee, and the whole process is user-friendly. However, you can use only bank transfer to add or withdraw funds, and wire withdrawal fees are high.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
High wire withdrawal fee

Account base currencies

At moomoo, the only available base currency is USD, similarly to the company's competitors.

Base currencies at moomoo vs similar brokers
  moomoo Webull Passfolio
Number of base currencies 1 1 1

At moomoo there is a free in-app currency exchange. Moomoo accepts USD deposit only, but can exchange for HKD in app if clients wants to trade in Hong Kong market. There is no currency exchange fee applied.

Other convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Moomoo charges no deposit fees for ACH transfers. However, fees may apply for wire transfers:

  • Domestic wire deposits cost $8 unless it's your first deposit or you deposit more than $25,000
  • International wire deposits cost $25 unless it's your first deposit or you deposit more than $25,000

You can use only bank transfer. Credit/debit cards and electronic wallets are not accepted, a common practice at many US discount brokers.

moomoo deposit options
  moomoo Webull Passfolio
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No

A bank transfer can take several business days, while payment with a credit/debit card would be instant.

You can only deposit money from accounts that are in your name.

MooMoo review - Deposit and withdrawal - Deposit

moomoo withdrawal fees and options

Moomoo charges no withdrawal fees for ACH transfers. Domestic wire withdrawals, however, cost $25, while international wire withdrawals cost $45.

moomoo withdrawal fees and options
  moomoo Webull Passfolio
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0.25

How long does it take to withdraw money from moomoo? We tested the bank wire withdrawal and it took 3 business days.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from moomoo?

  • Enter the platform
  • Open the menu on left side of the platform at the bottom
  • Choose 'Withdraw'
  • Open 'Futubull' and scan the QR code

Compare to other brokers

moomoo review
Web trading platform

To try the web trading platform yourself, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo does not have a web trading platform.
moomoo platforms to choose from
Trading platform Score Available
Web - No
Mobile 4.5 stars Yes
Desktop 4.5 stars Yes

Moomoo only has desktop and mobile trading platforms.

Open account

moomoo review
Mobile trading platform

4.5
To try the mobile trading platform yourself, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo's mobile trading platform is user-friendly, with a good search function and a good variety of order types. On the other hand, login features are somewhat limited.
Pros Cons
User-friendly No two-step (safer) login
Good search function No Touch/Face ID login
Good variety of order types

Moomoo's mobile trading platform is available for both iOS and Android. We tested it on iOS.

The app is available in English and Chinese.

Look and feel

The moomoo mobile trading platform is user-friendly, has a clear structure and is well-designed. You can view both technical and fundamental information about traded companies.

MooMoo review - Mobile trading platform

Login and security

Moomoo requires only a one-step login for its mobile platform. A two-step login procedure would be more secure.

In a further drawback, you can't log in using biometric authentication. Providing this feature would be more convenient.

Search functions

The app's search functions are great. You can search either by ticker or by the name of the asset.

When viewing a list of assets, a decline in value is highlighted in red, increases in green, while no change is indicated by grey, making it easy to see each asset's performance at a glance.

MooMoo review - Mobile trading platform - Search

Placing orders

There are many order types available in the moomoo mobile trading platform:

  • Limit
  • Market
  • Stop
  • Stop Limit
  • Limit if Touched
  • Market if Touched
  • Trail Limit
  • Trail

There are also order time limits you can use: Good 'til Canceled (GTC) and Good 'til Day (GTD).

MooMoo review - Mobile trading platform - Order panel

Alerts and notifications

You can easily set alerts and notifications on the moomoo mobile platform. To do this, simply click the instrument and choose the 'Alerts' icon at the bottom of the screen.

Open account

moomoo review
Desktop trading platform

4.5
To try the desktop trading platform yourself, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo's desktop trading platform is user-friendly, and comes with clear fee reports and good customizability for charts. On the negative side, two-step login is not possible.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good customizability (for charts, workspace)

The desktop trading platform is available in English and Chinese.

Look and feel

Moomoo's desktop trading platform is user-friendly, well-designed and has a clear structure. It is easy to navigate using the tools on the edges of the screen, while the middle of the screen works like a traditional desktop platform.

The workspace is highly customizable. For example, the screen can be divided into 3 parts:

  • assets/tickers on the left
  • chart in the middle
  • fundamental data about the selected company on the right

With this information at hand, it is easier to make quick decisions.

MooMoo review - Desktop trading platform

Login and security

The moomoo desktop platform provides only one-step login. A two-step login procedure would be more secure.

Search functions

The search functions are good; you can search by typing a company's name or an asset's ticker.

There is also an auto-suggestion feature that shows relevant results as you start typing.

MooMoo review - Desktop trading platform - Search

Placing orders

The following order types can be used in the desktop trading platform:

  • Limit
  • Market
  • Stop
  • Stop Limit
  • Limit if Touched
  • Market if Touched
  • Trail Limit
  • Trail

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use: Good 'til Canceled (GTC) and Good 'til Day (GTD).

MooMoo review - Desktop trading platform - Order panel

Alerts and notifications

You can easiliy set alerts and notifications on the desktop trading platform. To do this, simply right click on the chart and choose 'set alert' or click the bell icon.

Portfolio and fee reports

Moomoo has clear portfolio and fee reports, which are available from the left sidebar's 'Account' or 'Me' menu.

Open account

moomoo review
Markets and products

2.1
To dig even deeper in markets and products, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo has a limited product portfolio that includes only stocks, ETFs and options, mostly from the US. Other popular asset types such as funds, bonds or forex are not available.
moomoo asset classes
  moomoo Webull Passfolio
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No No No
Fund No No No
Bond No No No
Options Yes Yes No
Futures No No No
CFD No No No
Crypto No No Yes

Moomoo's focus on US stocks and ETFs is not a surprise, as most US brokers cover mainly or exclusively the US market.

Moomoo provides free access to Level 2 market data, which displays the real-time bids and asks at a certain price for any stock and the trades being executed right in front of you. With this information, you can determine entry or exit points that ensure the liquidity needed to complete the trade.

MooMoo offers Level 2 quotes from:

  • NYSE Arcabook
  • NYSE Open book
  • Nasdaq Total View

Stocks and ETFs

Moomoo's stock selection is far from the best on the market, but it does beat some of its close competitors. It gives access to the US, Hong Kong and Chinese market.

moomoo stock and ETF selection
  moomoo Webull Passfolio
Stock markets (#) 5 3 2
ETFs (#) 2,900 2,300 620

Options

Moomoo provides access to some US and Hong Kong options markets, although it's not clear which options exchanges specifically.

moomoo review
Research

5.0
To check the available research tools and assets, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo's research section is great, including a good interactive chart, great recommendations, and fundamental data with quality analytical tools.
Pros Cons
Good interactive chart None
Data on asset fundamentals
Good set of analytical tools

Moomoo offers research tools on all of its platforms. We tested them on the desktop trading platform.

Even if you use the trading platform for the first time, it's easy to find where the research tools are. Right-click on the chart and choose indicator management.

Trading ideas

Moomoo provides trading ideas in the 'Hot strategies' section.

MooMoo review - Research - Recommendations

Fundamental data

Moomoo has a very good screener offering fundamental data such as:

  • Market cap
  • P/E (TTM)
  • Turnover
  • P/B
  • Dividend Yield (TTM)
  • Volume %
  • Shares Float
MooMoo review - Research - Fundamental data

Charting

Moomoo has good charting tools. You can use 60 technical indicators, which is above the average. It is very easy to put any indicator on the chart, you just right-click anywhere on it and choose 'Indicator management'.

MooMoo review - Research - Charting

Newsfeed

Moomoo's news feed is OK. It includes articles from CNBC and from moomoo analysts.

Other research tools you may enjoy

In the 'Opportunity' section, you can filter on the top of the screen according to these categories:

  • Broker ranking
  • IPOs
  • Announcements
  • Dividend Payout

Compare research pros and cons

moomoo review
Customer service

1.5
To find customer service contact information details, visit moomoo

or
Compare to its best reviewed alternative: Webull
We rate Moomoo's customer service as poor because it's only available via email, with no phone support or live chat. Email support is fast, though, and provides useful answers.
Pros Cons
Good email support No phone support
No live chat
No 24/7 support

You can contact moomoo only via email. There is no phone support or live chat function, meaning that you may find it difficult to get immediate assistance with urgent queries. This is a drawback compared with competitors, many of which offer 24/7 support via phone and/or live chat.

On the positive side, we received quick and relevant responses via email.

MooMoo review - Customer Service

Open account

moomoo review
Education

2.0
To check the available education material and assets, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo offers a demo account and some educational articles, but you won't find any educational videos, trading platform tutorial videos or webinars.
Pros Cons
Demo account No trading platform tutorial videos
Educational texts No educational videos
No webinars

At moomoo you can learn in the following ways:

  • Demo account
  • Educational texts

The demo account is great, as you can use almost all of the live account's features. It somewhat compensates for the fact that there are no platform tutorial videos.

Educational texts are clear and straightforward and are easy to learn from. Topics covered include:

  • Paper Trading
  • Stock Academy
  • Technical analysis
  • Financial analysis
  • Getting started
MooMoo review - Education

Open account

moomoo review
Safety

To find out more about safety and regulation, visit moomoo

or
Compare to its best reviewed alternative: Webull
Moomoo is regulated by top-tier authorities, offers strong investor protection, and has a NASDAQ-listed parent company. On the downside, it has no negative balance protection.
Pros Cons
Majority of clients belong to a top-tier financial authority No negative balance protection
High level of investor protection
Parent company listed on stock exchange

Is moomoo regulated?

Yes, it is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Is moomoo safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

This is important for you because the investor protection amount and the regulator differ from entity to entity. With moomoo, this is not an issue though, as all customers are covered by Futu Inc. and the US investor protection scheme, called the Securities Investor Protection Corporation (SIPC).

moomoo investor protection
Country of clients Protection amount Regulator Legal entity
US $500,000 ($250,000 cash limit) Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) Futu Inc.

Moomoo does not provide negative balance protection. If the balance on your account goes negative, you will not be protected.

Background

Moomoo was established in 2018. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Moomoo's parent company, Futu Holdings Limited, is listed on the NASDAQ stock exchange. This is a good sign, as listed companies are more transparent and are under stricter scrutiny than private companies. Futu Holdings Limited is backed by venture capital affiliates of Tencent, Sequoia Capital and Matrix Partners.

Being regulated by the top-tier SEC and FINRA, and the fact that moomoo's parent company is listed on NASDAQ are great signs for moomoo's safety.

Find your safe broker

moomoo review
Bottom line

Visit moomoo if you are looking for further details and information

or
Compare to its best reviewed alternative: Webull

Moomoo's fees are great, as you can trade US stocks, ETFs and options with zero commission. The account opening is easy, fully digital and fast. Moomoo offers quality analytical tools on its user-friendly mobile and desktop platforms.

Moomoo has some drawbacks, though. The product portfolio is limited, covering only stocks from the US, Hong Kong and China market, as well as ETFs and options. Among other limitations, you can use only bank transfer for deposits or withdrawals, and customer support is available only via email.

As the account opening process is seamless and moomoo offers commission-free stock and ETF trading, you should feel free to try it.

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