Moomoo Review

Rana Adnan | March 25, 2022

Headquartered in California, USA, Moomoo is an established trading broker that is focused on providing traders with a convenient and secure way to trade various financial instruments, including stocks, options, ETFs, and ADRs. The broker provides traders with advanced trading platforms, educational resources, and some useful trading tools. They offer multiple trading account types, and no commission is charged on trades.

Broker Pros / Cons
  • Proprietary trading platform
  • Educational resources
  • Trading tools
  • Multiple financial instruments
  • No MetaTrader platforms
  • Limited account funding methods
  • Restricted leverage
  • No live chat support

Summary

Moomoo Inc. is a wholly-owned subsidiary of Futu Holdings Ltd, an advanced technology company that is transforming the investing experience by offering fully digitized brokerage services. The broker provides all levels of investors with an intuitive and powerful investing platform whilst providing various learning resources. Their client support team is readily available to assist traders.

Regulation

Moomoo is a trading name of Futu, which is regulated in the US and Singapore as follows:

  • Futu Inc. is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) (CRD: 283078/SEC: 8-69739), and a member in good standing of Financial Industry Regulatory Authority (FINRA), so it is authorised to conduct business in compliance with SEC and FINRA.
  • Futu Clearing Inc. is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) (CRD: 298769/SEC: 8-70215), a member in good standing of Financial Industry Regulatory Authority (FINRA), as well as a member of the Depository Trust & Clearing Corporation (DTCC) and the Options Clearing Corporation (OCC).
  • Futu Wealth Advisors Inc. is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC) (CRD: 310790/SEC: 801-119635). It is regulated by the SEC.
  • Futu Futures Inc. is a licensed entity registered with the National Futures Association (NFA) (NFA ID: 0523957) and is regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).
  • Futu Singapore Pte. Ltd. is a capital markets services license holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000)

The broker allows traders from different parts of the globe to open a trading account with them if their countries of residence permit online trading with international brokers.

Platforms

Trades are carried out via the Moomoo trading platform, an in-house-developed trading platform that offers powerful trading functionalities. It has an intuitive interface and is packed with in-depth customization tools for advanced traders. The Moomoo app — backed by independent technological Research & Development capabilities — takes a holistic view of the trading process and is regularly updated with new features and enhancements to improve the trading experience. The Moomoo trading platform is available as a desktop application for Windows and Mac computers, a WebTrader, and a mobile trading app for Android and iOS devices.

Moomoo Trading Platform

Moomoo Trading Platform

Tools

In addition to the tools that were built into the Moomoo trading platform, traders are provided with some standalone trading tools, such as market data, financial calendars, charts, technical indicators, intuitive graphs, stock screeners, and more.

Moomoo Charts & Technical Indicators

Moomoo Charts & Technical Indicators

Education

The following educational resources are available on the broker’s website: market news, highlights, learning articles, trading guides, and an FAQ section that answers some of the common questions that traders may have.

Moomoo Market News

Moomoo Market News

Markets

The broker offers the following trading instruments: stocks, options, ETFs, and ADRs.

Accounts

Moomoo offers an Individual Account and a Margin Account only. No commission is charged on trades.

Support

The broker’s client support team is always available to respond to all your general, technical, and account-related inquiries. They can be reached via telephone, email, and social media.

Funding

Traders are allowed to deposit and withdraw funds to and from their trading accounts using ACH from US bank accounts.

Signup

You can open a Moomoo account via the following steps:

  1. Install and sign up with the Moomoo app
  2. Click on the “Open Account” tab to fill the registration form
  3. Verify your email.

Upon completion, you can then submit your application form within the Moomoo app. Alternatively, you can go to Futu Inc.’s Official Website: https://www.fututrade.com, and click on Open Account in the ‘login’ tab. Then, fill the form and verify your email.

Compare

Compare Broker (vs Our Top 3 Brokers)
Broker FeaturesAvaTradeIGIC Markets
Founded200619742007
RegulatedASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSAFCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFFASIC, CySEC, FSA, SCB
CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, MobileMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, MobileMetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
Visit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit Broker

Conclusion

Moomoo is a California-based retail broker that offers access to trade multiple financial instruments via an intuitive trading platform. They provide traders with a selection of trading tools, educational resources, as well as a knowledgeable customer support team. The broker is regulated in the US and Singapore.

Moomoo Logo

Min $1 Deposit

Moomoo is a California-based retail broker that offers access to trade multiple financial instruments via an intuitive trading platform.

All investments involve risk, including possible loss of principal.

About the Author

Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.

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