Does moomoo charge a custody fee as of September 2024?
Wondering if moomoo charges a custody fee is like trying to figure out if an airline has hidden baggage fees. It might be confusing. Let me make it simple for you.
Good news – they don’t charge one. With no custody fees at moomoo, you can keep more of your money working for you.
At BrokerChooser, we only publish objective analyses based on live testing. Every recommendation is unbiased and based on first-hand experience: we open a live account anonymously at each broker, deposit real money and test every important feature.
moomoo is a US-based zero-commission broker. It is overseen by several authorities, including top-tier ones like the SEC and FINRA.
Together with my brokerage analyst colleagues, I thoroughly tested the services of moomoo by opening a real-money account and executing actual trades on its platforms. Here’s what you need to know about the custody fee at moomoo.
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Custody fees are like paying for parking in a secure garage.
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Look out for other non-trading fees.
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What is a custody fee?
Just as you pay to keep your car safe from theft and weather damage, a custody fee ensures your investments are securely stored and managed.
For example, consider an investment account worth $75,000. You might pay a custody fee of 0.3% per year, amounting to $225 annually.
This fee covers the costs of safekeeping, insurance, and administrative services, providing you with peace of mind that your assets are protected. It is typically a percentage-based fee calculated based on the value of the positions you are holding.
moomoo non-trading fees and more
While custody fees are one piece of the puzzle, it's important to be aware of other potential fees that might appear in your investment account.
Just like those unexpected service charges on your phone bill, brokers can have a range of non-trading fees that add up if you're not careful. Let’s take a closer look at these fees at moomoo so you can avoid surprises and keep your investment costs in check.
| 💰 moomoo custody fee | No custody fee, except for ADRs |
| 💰 moomoo account fee | No account fee for US stocks, but HK$ 15 per order for Hong Kong stocks |
| 💰 moomoo inactivity fee | No inactivity fee |
| 💰 moomoo withdrawal fee | $0 |
| 💰 moomoo deposit fee | $0 |
| 🗺️ Country of regulation | USA, Singapore, Australia, Canada, Malaysia, Japan |
Data updated on September 27, 2024
To learn more about moomoo's fees and charges, read our article about moomoo's fee structure.
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If you are interested in moomoo in general, check our comprehensive review.
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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.
