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moomoo Technologies Inc. provides an online trading platform called the moomoo app. We’ll explore the benefits and drawbacks of the trading platform as well as what investors can anticipate in this moomoo review of our website tradingcritique.com.
moomoo is a trading platform with an app for both Android and iOS that provides free trades, cutting-edge tools, and a customizable platform. In 2018, moomoo Financial Inc. launched the broker-dealer moomoo. The business is a subsidiary of Futu Holdings, a Chinese company, based in Palo Alto, California.
The desktop platform on a Mac or PC, and the Mobile app for iOS and Android devices, are all available for download by traders.
Table 1: moomoo Overview
 moomoo Highlights |
|
|---|---|
|
Regulated By |
|
|
Account types |
Individual Account |
|
Demo account |
YES |
|
Islamic account |
NO |
|
Minimum deposit |
$0 |
|
Payment Method |
Bank Wire Transfer ACH |
|
Account Base Currencies |
USD |
|
Trading platforms |
moomoo Desktop trading platform moomoo Mobile trading platform |
|
Commission |
NO |
|
Customer Support |
24/7 |
|
Market Instruments |
Details |
|
Options |
YES |
|
Stocks |
YES |
|
ETFs |
YES |
|
Futures |
YES |
|
Funds |
YES |
|
Indices |
NO |
|
Cryptocurrencies |
NO |
moomoo – Knowledge bites
moomoo Financial Inc. (“moomoo US” or “MFI”) is a registered and regulated online broker-dealer and a member of the Securities Investor Protection Corporation (SIPC). The firm combines on-the-go investing with technology and commission-free trading. MFI affiliate moomoo Technologies Inc. (“MTI”) supplies the technology used in the moomoo app. Advanced technical analysis, in-depth market data, and a vibrant online Community are all features of the moomoo app, which provides a professional trading experience. You can create charts on desktop and Mobile devices using moomoo’s more than 60 technical indicators and 30+ drawing tools. moomoo makes trading in China A-Share stocks, Hong Kong, and the United States possible.
Image 1: Home page of the moomoo website
Image Copyrights reserved to the moomoo website
moomoo is a brokerage firm that has been properly registered with all of the regulatory bodies shown below:
moomoo Financial Singapore Pte. Ltd. is governed by the Monetary Authority of Singapore (MAS) and moomoo Financial Inc. is governed by the U.S. Securities and Exchange Commission (SEC).
The Securities Investor Protection Corporation (SIPC) protects moomoo Financial Inc. brokerage accounts. As a Securities Investor Protection Corporation (SIPC) member, moomoo Financial Inc. is covered up to $500,000 (including $250,000 for claims involving cash) for securities customers.
Futu Holdings Limited, MFI’s parent company, is backed by some of the world’s most prominent investors, including venture capital affiliates of Tencent, Sequoia Capital, and Matrix Partners.
Table 2: moomoo Regulation details
| Country | Regulation | Registered Office | Registration Number |
|---|---|---|---|
|
Singapore |
moomoo Financial Singapore Pte. Ltd. |
License No. CMS101000 |
|
|
U.S |
moomoo Financial Inc. |
CRD: 283078/SEC: 8-69739 |
These honors highlight businesses, goods, and innovations from around the world. It also helps to recognize and highlight the best brokers based on their innovation, diligence, and technological investments in their solutions, goods, and services.
Table 3: moomoo Awards details
 Awards |
 Awarded by |
|---|---|
|
Best Online Stockbrokers 2021 |
Benzinga Awards |
|
Best Trading Technology 2021 |
Benzinga Awards |
|
Best Active trading app 2021 |
Investing Simple |
|
Best Trading platform 2022 |
Fintech Breakthrough |
Stocks, ETFs, options, futures, and funds are all accessible through moomoo. It does not provide cryptocurrency, bonds, mutual funds, or foreign exchange. moomoo allows trading on stock exchanges outside of the US too. International stock exchanges, such as the Chinese Stock Exchange and the Hong Kong Stock Exchange, are available for direct trade.
Financial Instruments that you can trade using moomoo:
Options
Stocks
ETFs
Futures
Funds
The desktop platform on a Mac or PC, and the Mobile app for iOS and Android devices, are all available for download by traders. The setups, alerts, and notifications that traders create can be synced between all of their devices.
Trading platforms that can be used for trading in moomoo:
moomoo Desktop trading platform
moomoo Mobile trading platform
The Desktop trading platform from moomoo is simple to use, has clear fee reports, and offers good chart customization. The Desktop trading platform is accessible in Chinese and English. There is only one-step login available on the moomoo desktop platform. On the Desktop trading platform, alerts and notifications are simple to set.
The Mobile trading platform from moomoo is accessible on both iOS and Android devices. This Mobile trading platform built all of its sophisticated tools into a single app. Both beginner and highly experienced traders can use it easily and for free. Your personalized setups are synced across various devices, allowing you to start trades whether you’re out or at home. The app is accessible in both Chinese and English.
Opening an account with moomoo is simple, entirely digital, and requires no minimum deposit. moomoo only provides Individual Accounts.
The moomoo Account type is:
Individual Account
New users have two entirely digital options for opening an account. Users can create an account on either the official moomoo website or the moomoo app. The processing time for both application processes is immediate and is around one business day. Both your computer and your phone can perform the same process to open an account.
moomoo’s paper trading with real-time data allows beginners who aren’t yet comfortable trading with real money to practice investing before going all in. You can open a paper trading account on moomoo with $1 million in virtual money to experiment with.
Image 2: Paper trading section of the moomoo website
Image Copyrights reserved to the moomoo website
Trading hours are available on moomoo during pre-market hours (from 4:00 a.m. to 9:30 a.m. EST), Regular hours (from 9:30 a.m. to 4:00 a.m. EST), and after-hours hours (from 4:00 p.m. to 8 p.m. EST).
Other costs to be aware of:
Table 4 : moomoo fees details
| Others | Fee |
|---|---|
|
Domestic Incoming wires |
$10 |
|
International Incoming wires |
$10 |
|
Domestic Outgoing wires |
$20 / transaction |
|
International Outgoing wires |
$25 |
|
Assisted phone trades |
$10 |
|
Mail paper statements |
$3 / statement |
|
Outgoing stock transfers |
$75 / stock |
Only Bank wire transfers and ACH transfers are allowed in moomoo for deposits and withdrawals.
For ACH transfers, moomoo doesn’t charge any deposit fees. Unless it’s your first deposit or you deposit more than $25,000, domestic wire deposits are $8 and international wire deposits are $25. moomoo only accepts USD as the base currency.
For ACH transfers, moomoo does not charge any withdrawal fees. However, domestic wire withdrawals are $25 while international wire withdrawals are $45.
Users can open Margin accounts on moomoo, using the value of the securities in their accounts as collateral for loans. To use Margin, traders must have a minimum of $2000 in their account. Long Margin rates for American stocks are 4.80%, Hong Kong stocks are 6.80%, and Chinese A-shares are 8.80%.
The Mobile trading platform offered by moomoo has a variety of appealing features that many investors will find helpful.
Extra features available in moomoo:
Level 2 market data
Market Monitor
moomoo screener
Moo Community
moomoo News
moomoo provides free Level 2 market data for American stocks to traders. For any U.S. stock, Level 2 market data shows the current bids and asks. You can choose entry or exit points that ensure the liquidity required to complete the trade using this information.
AI Monitor helps to keep the market under-watched by making it simple to identify stocks that are changing among thousands of data points that compete for attention, as well as by graphing long/short distribution and price volatility to identify the market sentiment.
Screeners can be customized, saved, and synced to go for stocks, ETFs, options, and even foreign securities. Equities can be sorted based on several criteria, such as market, fundamental, and technical factors.
There is an online community where you can interact with other investors within the moomoo app. Investors can post, share, make polls, and perform any other tasks you would expect from an online Community within the Community. With over 100K users, the Community is very active and a great place to learn new viewpoints on investment opportunities.
You can remain updated about significant current events that will impact the market with the help of moomoo’s extremely thorough and up-to-the-minute news section. Your portfolio may be significantly impacted by recent news events. moomoo wants to inform you about the companies that are most important to you.
Image 3: Promotion section of the moomoo website
Image Copyrights reserved to the moomoo website
To find real-time investment opportunities, traders can use the numerous built-in screeners on moomoo. Additionally, it provides 24/7 financial news, including in-depth analysis of stock price changes. Investors can share and talk about trading insights in a global investment Community with 19 million members. In its library section, moomoo has interesting educational articles, Blogs, and detailed graphs.
Image 4: Blog section of the moomoo website
Image Copyrights reserved to the moomoo website
moomoo has both advantages and disadvantages which are listed in Table 5.
Table 5 : Pros and Cons of the moomoo website
 Pros of moomoo |
 Cons of moomoo |
|---|---|
|
Investors with an account are eligible for free Level 2 market data.
Free trading sessions with extended hours
Quick and simple account creation
Investors can trade Chinese A-shares and Hong Kong stocks.
No minimum deposit is necessary to open an account.
No maintenance or inactivity charges |
Forex, bonds, mutual funds, and cryptocurrencies are not available on moomoo. Fewer available product and account types. Limited options for customer service. Margin rate is high. |
The following methods of communication are available 24/7 with moomoo: live chat, email, and customer service hotline. Additionally, moomoo provides video tutorials and a FAQ page.
Table 6 : Customer support service details of moomoo
 Social Media Pages of moomoo |
|
|---|---|
|
|
+1 888 721 0610 |
 Email |
|
 Facebook |
|
 Linkedin |
|
|
|
|
1. What is the minimum amount required to invest with moomoo?
There is no minimum deposit amount required for moomoo.
2. Is moomoo a Chinese firm?
moomoo is a direct subsidiary of Futu Holdings Limited, a Chinese brokerage and wealth management firm based in Hong Kong.
3. What is China A-shares?
Shares from mainland Chinese-based businesses are known as “China A-shares.”
4. Can you purchase crypto on moomoo?
No, you can’t purchase any major cryptocurrencies on moomoo.
5. Is there a fee for withdrawing from moomoo?
moomoo does not charge withdrawal fees.
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