Moomoo Review 2023

/ 5
Moomoo is #10 in our broker rankings.

Moomoo will appeal to stock traders who want to build an investment portfolio through a user-friendly app with low to zero commissions.

- DayTrading Review Team

Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong and US stocks, ETFs and other assets. Margin trading is available and the brand accepts low minimum deposits while also decent several bonuses.


Demo Account

Award Winning

Bonus Offer
Stocks, Options, ETFs, ADRs, OTCs
Get up to 15 free stocks worth up to $2000
Wire Transfer, ACH Transfer, Automated Customer Account Transfer Service, TransferWise

Stock Trading

Moomoo offers online US and Hong Kong stocks, and China-A shares trading across options, ETFs, ADRs, OTC, plus IPOs on a proprietary trading platform. The zero commissions, no account minimum and free level 2 data are standout features.


  • Best Trading Platform 2022 - Fintech Breakthrough
  • Best Active Trading App 2021 - Investing Simple
  • Best Trading Technology 2021 - Benzinga
  • Best Online Stock Brokers 2021 - Benzinga

✓ Pros

  • Regulated by US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS)
  • Member of FINRA and the Securities Investor Protection Corporation (SIPC)
  • Access to full extended pre-market trading hours
  • Attractive bonuses and financial incentives
  • Superior trading analytics and insights
  • ‘Moomoo Token’ transaction security
  • No minimum deposit requirement
  • Great mobile app for beginners
  • AI alerts

✗ Cons

  • High margin rate fees
  • No phone or live chat support
  • No negative balance protection
  • No 2 factor authentication (2FA)
  • Aimed mainly towards US residents

Moomoo is an online broker specializing in US and Hong Kong stock trading. It provides a fully digital brokerage service and wealth management platform alongside a top-class user experience and sign-up promotions. This 2023 Moomoo review will cover customer service options, how to open an account, fees, trading quotes, bonuses, minimum deposits, app downloads, and more. Find out if our experts recommend trading with Moomoo.

Company Details

Moomoo Inc is a subsidiary of Futu Holdings Ltd and was established in March 2018.

The broker’s mission is to provide users with an intuitive and powerful investment platform backed by innovative technology. Extended trading hours and welcome bonuses have also made the firm popular with aspiring traders.

Primarily aimed at US and Chinese investors, Moomoo is regulated and authorized by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In Singapore, the service is regulated by the Monetary Authority of Singapore (MAS). Moomoo is also a member of the SIPC, which protects customer funds up to $500,000.

Moomoo’s parent company, Futu, is backed by notable investors, including Tencent, Matrix, and Sequoia.

Trading Platform

Moomoo offers a proprietary trading platform that is suitable for both new and experienced traders. Clients can download the platform to desktop devices and it’s compatible with Windows and Mac. There is no web browser compatibility.

Features include:

Moomoo investing devices
Trading devices

Visit the Moomoo website for a downloadable platform guide.

Products & Assets

Moomoo offers clients investing and trading opportunities in over 5000 shares and ETFs. Stocks from the following markets are available:

Users can speculate on the some of the biggest global brands using a suite of analysis tools. Head to the ‘additional features’ section below for more details.

Futures trading is also available via Moomoo Financial Singapore. Users simply need to select a futures account when they register for a new profile and make a cash transfer. Clients can then enter the relevant futures contract code to place a trade.

Fees & Commissions

With Moomoo, stocks, ETFs, and options trading are commission-free for US residents. However, regulatory charges are applicable, for example, the US Securities and Exchange Commission (SEC) charges a small fee for stock sell orders. This is not broker-specific and the rate is negligible (0.0000051 x transaction amount at the time of writing).

Other charges include trading activity fees ($0.002 per contract, min $0.01 per order), an options regulatory fee ($0.0378 per contract) and OCC fees ($0.02 per contract (0-2750 contracts) or $55.00 per trade (>2750 contracts).

For Hong Kong stocks and China A-shares, there are commission fees. These are charged at 0.03% or 3 HKD/3 CNH (whichever is higher). There is also a 15 HKD/15 CNH per order platform fee and various regulatory charges including stamp duty, trading tariffs, and exchange settlement fees. A full fee schedule is available on the broker’s website.

Crucially, there are no account opening fees, maintenance charges, or inactivity fees, meaning traders can calculate profits on a per-trade basis. Vs competitors such as WeBull, Interactive Brokers and eToro, the fee structure is easy to understand.

Moomoo Leverage

Margin trading is available on US stocks up to a maximum of 1:2. However, if your net assets are less than $2,500, this option may not be available. The annual margin rate (i.e interest on borrowed funds) is also fairly high, at a flat rate of 6.8%.

Margin trading is a risky strategy. Traders can lose more than their initial deposit, so consider if this is right for you before trading.

Mobile App Review

Moomoo’s big selling point is its intuitive mobile app. This is available for free download to iOS and Android devices from the relevant app store. Alternatively, there are QR codes on the broker’s website for easy download. The Moomoo app is available in English or Chinese language.

It is a feature-rich platform, offering real-time charts and full trading history. Plus, it provides access to all analytical functions, including economic data releases and earnings calls, so you can review investments on the go.

Other notable features include:

Moomoo trading app
Moomoo app

Payment Methods


Moomoo does not have a minimum deposit requirement, which is ideal for new traders. Account funding currencies include USD, HKD, and CNH.

Accepted payment methods:

Instant buying power is available interest-free on US stocks and IPOs. This provides every trader with a $1,000 limit, which can be increased to $2,000 if there are adequate assets in your account. Instant buying power is available as soon as your deposit clears or within 7 days of the initial grant.


Moomoo does not charge a withdrawal fee for ACH transfers, however, bank wires do incur a $25 fee, plus any bank charges. Withdrawals via bank wire transfer are only available in USD. Clients must use the currency exchange on the platform to convert before withdrawing.

The maximum withdrawal amount is $10,000, however, traders can initiate several transactions.

Average processing times are up to five business days.

Demo Account

Moomoo offers a free demo account across all instruments. Also known as ‘paper trading accounts’, demo solutions are a good way to familiarize yourself with the platform features and test strategies risk-free.

Note, pre or after-hours trading is not permitted via the demo account.

Sign Up Bonuses & Promotions

New joiners can get up to 15 free stocks worth up to $2000 when they open an account with Moomoo and start trading.

1 free stock is awarded to users when they open an account. The broker typically approves accounts the same day, though it can take up to 3 days.

Deposit $100 to earn 5 more stocks and deposit $2000 to get up 15 stocks in total.

Traders also benefit from commission-free trading through a premium quality mobile app.

Regulation & Licensing

Moomoo is regulated by the US Securities and Exchange Commission (SEC). This is a credible regulatory body in financial services, requiring stringent client protection protocols. Moomoo is also a member of FINRA and the Securities Investor Protection Corporation (SIPC), with up to $500,000 in compensation available for clients in the case of financial failure.

In Singapore, Futu Singapore Pte Ltd, the Moomoo subsidiary, is a registered capital markets license holder with the Monetary Authority of Singapore (MAS). Moomoo’s parent company Futu Holdings Limited is also listed on the NASDAQ stock exchange, providing additional credibility.

Additionally, the broker segregates client funds from the company’s operating capital.

Moomoo Additional Features

When we used Moomoo, we found clients could access the global investment community which has more than 200,000 users worldwide. Investors can share trading insights with community members and participate in transaction discussions.

The broker also offers 24/7 live global financial news and stock price fluctuation updates. Economic data and a financial calendar are published on the broker’s website. Moomoo also supports retail clients with free level 2 market data, providing valuable insights with real-time bids and asks from NYSE Arcabook.

In addition, Moomoo facilitates superior trading analytics via profit & loss diagrams, powerful drawing tools, and asset ranking statistics. A customizable stock screener with 100+ indicators also helps users find trading opportunities.

Educational information can be accessed via the help centre. This includes financial analysis, a stock academy, calculation tools, technical analysis, and a tutorial on how to calculate the cost basis of positions.

Moomoo trading tools
Stock monitor

Live Accounts

Moomoo offers retail clients just one profile, the Individual Margin Account. There is no minimum deposit and no option for a joint account.

Clients can open a new account via the mobile app or on the Futu Inc website. Identity and address verification is required to comply with the Know Your Customer (KYC) checks. Applications are generally processed on the same day.

Trading Hours

Moomoo follows standard Monday-Friday trading hours, however, these timings may vary by instrument. The broker’s website details market holiday hours. Pre and after-market trading hours are also available on some assets.

The following times are applicable to US assets:

Customer Support

While using Moomoo, we found the broker offers customer support through the following channels:

The FAQ help centre on the Moomoo website is a great place to find answers to common questions. It includes a user guide on how to withdraw funds, options fees, and various trading strategies. There are also self-help guides to help you resolve issues, such as how to unlock trades or understand the reasons for being unable to withdraw.

Security & Safety

The Moomoo trading platform assures high-tech encryptions and industry-standard data privacy. However, there is only one-step login for mobile and desktop platform access. Biometric or 2 step-login authentication would be more secure given the broker prides itself on its technology.

Despite this, ‘Moomoo Token’ can be enabled to provide an additional layer of security. This is a separate application that can be downloaded from any app store. It provides dynamic password verification, creating a new 6-digit code every 30 seconds for monetary transfers.

Moomoo Verdict

Moomoo is a reliable, easy-to-use proprietary terminal suitable for new or experienced investors. There is no minimum deposit, making it ideal for those with lower capital requirements. A demo account is provided and sophisticated analysis tools are available. However, the product portfolio is fairly limited. Plus, we would like to see the integration of 2-factor login security features to enhance client protection and more customer services options. Overall though, Moomoo is a strong contender, particularly for US investors.

Accepted Countries

Moomoo accepts traders from Australia, Thailand, Canada, United States, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Moomoo from United Kingdom.

Payment Methods

Moomoo Details

Minimum Trade $0
Regulated By SEC, FINRA, MAS
Islamic Account No
Mobile Apps Yes (iOS & Android)
Margin Trading Yes
Margin Rate 6.8
Volatility Index No
Spot Trading Yes
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Social Trading No
Trade Signals None
Guaranteed Stop Loss No
Stock Exchanges
  • Chicago Mercantile Exchange
  • Hong Kong Stock Exchange
  • Nasdaq
  • New York Stock Exchange

Compare Moomoo

Compare Moomoo with similar brokers that accept traders from your location. Among available brokers these are the most similar to Moomoo:

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade
  3. – boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to

Moomoo Comparison Table

Compare Moomoo With Similar Brokers
Moomoo IG Group Just2Trade
Rating 3.8 4.4 3.5 4.5
Markets Stocks, Options, ETFs, ADRs, OTCs CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $100 $100
Minimum Trade $0 0.01 Lots 0.01 Lots 0.01 Lots
Bonus Get up to 15 free stocks worth up to $2000 Up to $2,000 for professional accounts Active Trader Program With A 15% Reduction In Costs
Education No Yes No Yes
Platforms Own MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:30 (Retail), 1:250 (Pro) 1:20 1:50
Payment Methods 4 6 20 8
Visit Visit Visit Visit Visit
Review Moomoo
IG Group

Compare Trading Instruments

Compare the markets and instruments offered by Moomoo and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Moomoo Trading Instruments
Moomoo IG Group Just2Trade
CFD No Yes Yes No
Forex No Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities No Yes Yes Yes
Oil No Yes Yes Yes
Gold No Yes Yes Yes
Copper No Yes No No
Silver No Yes Yes Yes
Corn No No No No
Crypto No Yes Yes No
Futures Yes Yes Yes No
Options Yes Yes Yes Yes
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Moomoo vs Other Brokers

Compare Moomoo with any other broker by selecting the other broker below.

Moomoo vs

The most popular Moomoo comparisons:

  1. TD Ameritrade vs Moomoo
  2. TradeStation vs Moomoo
  3. Webull vs Moomoo
  4. Moomoo vs Interactive Brokers
  5. Moomoo vs eToro
  6. Robinhood vs Moomoo


Is Moomoo A Legit Broker?

Yes, Moomoo is regulated with a credible authority – the SEC and provides a user-friendly trading platform. Investor protection is offered by SIPC, up to a maximum of $500,000, including a $250,000 limit for cash in the case of business insolvency.

Is Moomoo Regulated?

Yes, Moomoo is regulated and authorized by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In Singapore, the online brokerage is regulated by the Monetary Authority of Singapore (MAS).

Does Moomoo Charge Trading Commissions?

Moomoo offers US stocks with zero commissions. Regulatory charges are applied, but these are not broker specific. Hong Kong stocks incur a commission of 0.03%/3 HKD/3 CNH (whichever is higher).

What Is The Moomoo Buying Power?

Moomoo provides instant interest-free ‘buying power’ up to $1,000 whilst account funding is settling. This is cleared after 7 days or after a deposit settles as withdrawable cash.

Can I Open A Moomoo Trading Account In The UK?

Moomoo trading accounts are currently targeted towards US residents and are not available to clients in the UK. This is similar to TD Ameritrade, which offers no trading options to UK or EU residents.

Moomoo Vs Futu, What Is The Difference?

Moomoo Inc is a subsidiary of Futu Holdings Ltd, founded in March 2018. Futu is the parent company with global trading operations.

Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong and US stocks, ETFs and other assets. Margin trading is available and the brand accepts low minimum deposits while also decent several bonuses.