moomoo Review – Is moomoo Safe? Features and Fees Explained

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Since launching in 2018, moomoo has become one of the most user-friendly online brokers in the trading space. Not only that, but moomoo also boasts an appealing fee structure, wide range of products, and top-notch customer support – all of which combine to make this platform the go-to for thousands of traders throughout the US.

With that in mind, this article presents our in-depth moomoo review, covering everything investors need to know about this broker. Alongside this review, we’ll provide a quick-step guide on how investors can get started with moomoo today – all in less than ten minutes.

What is moomoo?

So, what is moomoo? moomoo is trading platforms, offering US-based users low-cost trading and investing services. This platform is heavily regulated within the US by the SEC and FINRA.

With moomoo, users can access the US, Hong Kong, and Chinese markets from a desktop-based platform or dedicated mobile app. An array of asset classes are on offer, ranging from stocks to options – and US residents can buy and sell US stocks, ETFs and options with no commissions.

moomoo broker review

Also, moomoo boasts analytics tools that help streamline the trading process for everyone. These include real-time pricing data, AI-powered support alerts, and even free Level 2* market data that help traders visualize an asset’s liquidity level.

*NOTE: Level 2 data is free to moomoo users that have an approved brokerage account with Moomoo Financial Inc.

Ultimately, moomoo is a trading platform that offers something for everyone, regardless of their experience level. Complete newcomers can even benefit by partnering with moomoo, as the platform offers a free paper trading account with $1m in virtual funds for stocks and options trades – ideal for those looking to test the waters before entering the live markets.

moomoo Pros & Cons

Before we dive any further into this moomoo review, here’s a brief overview of the broker’s main strengths and weaknesses:


  • Regulated in the US by the SEC and FINRA
  • US clients are covered under the SIPC
  • No commissions on stock, ETF, and options trading by US residents
  • Speedy account opening process
  • Free Level 2 market data offered
  • Has won several top industry awards
  • FINRA-licensed specialists provide help when needed
  • Paper trading account with $1m in virtual funds


  • It doesn’t support credit/debit card deposits
  • Isn’t available to UK-based traders

Your capital is at risk.

moomoo Supported Markets

As one of the most popular US-based brokers, moomoo offers the following asset classes:

  • Stocks
  • ETFs
  • Options

Even though most US-based brokers focus solely on the domestic market, moomoo differentiates itself by offering access to the Hong Kong and Chinese markets. This makes moomoo an excellent option for those seeking a geographically-diversified portfolio.

moomoo’s support for futures markets is worth noting, as not all platforms offer data for this asset class.

moomoo Platforms

moomoo also excels when it comes to the trading process. Users can access the markets via a desktop-based platform or a mobile application. The former is highly user-friendly, featuring a customizable home screen that showcases assets, charts, and fundamental data.

Moreover, moomoo’s desktop platform boasts various order types, from market orders to trail orders. Users can also set alerts for when an asset’s price reaches a certain level, a feature many platforms don’t offer.

Unfortunately, moomoo doesn’t yet offer a web-based trading application that can be accessed through users’ browsers. However, we found that the desktop platform and mobile app were more than enough to suit most traders’ needs.

moomoo Mobile App

Moving on to the mobile app, this option is ideal for those looking to trade whilst on the go. moomoo’s app is free to download on iOS and Android, featuring an intuitive UI and a straightforward layout.

moomoo mobile app

The moomoo app has similar functionality to the desktop-based platform, including various order types, real-time charts, and price alerts. The app also makes it easy to place trades in just a few taps.

In the interests of a balanced discussion, it’s worth pointing out that the app doesn’t offer two-step login functionality. Some users may feel this detracts from the overall security of the app, yet this can be avoided by ensuring nobody else knows the password to the account.

moomoo Fees

Fees are crucial when choosing a broker to partner with – and during this moomoo review, we found that the broker’s fee structure was highly cost-effective. As mentioned earlier, moomoo is a zero-commission broker, meaning traders can buy/sell US-based stocks, ETFs, and options without hefty commissions.

It’s slightly different for Hong Kong/China-based assets, as a commission of 0.03% will be charged on each trade – with a minimum commission of HK$3/¥3 per order.

moomoo fees

Those investing in the US market will also receive free Level 2 real-time market data. Moomoo is made even more appealing since there are no platform fees when trading the US markets, meaning users can operate as cost-effectively as possible.

It’s also free for users to fund their accounts via ACH transfer, although domestic/international wire transfers will be accompanied by a fee of between $10 to $25. Users can also transfer stocks into their moomoo account with no extra charge. Finally, moomoo has no inactivity fee that users must be aware of.

NOTE: The SEC/FINRA charge a small fee whenever a user sells a stock. This fee isn’t collected by moomoo, so it doesn’t benefit the broker directly.

moomoo Promotions

It’s also essential to cover moomoo’s promotions, as these offer an enticing reason for traders to partner with moomoo over its competitors. At the time of writing, new users can receive up to 15 free stocks, depending on how much they deposit.

Here’s how it works:

  • No Deposit – All new users will receive one free stock when they sign up; no deposit is needed.
  • Deposit of $100 or more – Those who deposit at least $100 into their account will receive 4 free stocks.
  • Deposit of $1,000 or more – Those who deposit at least $1,000 into their account will receive a total of 10 free stocks.

These free stocks will be valued at between $3 and $2,000, meaning lucky users can build a healthy portfolio right off the bat. Importantly, those who opt for the $100/$1,000 bonus must maintain an average balance of at least $100/$1,000, respectively, for 60 days. Once the 60 days are up, these stocks will be unfrozen and can be sold if the user wishes.

moomoo Deposits & Withdrawals

Deposits and withdrawals are easy with moomoo, as this broker has full support for USD as a base currency. The great thing is that users don’t need to pay any hefty exchange fees if they wish to trade on non-US markets – as moomoo offers a free currency exchange functionality.

Regarding account funding, moomoo has no minimum deposit threshold, meaning barriers to entry are non-existent – perfect for newcomers to the financial markets. However, moomoo only permits deposits via ACH transfer or wire transfer since credit/debit card and e-wallet deposits are not yet supported.

moomoo deposit process

ACH deposits are free to complete, although domestic and international wire transfers have a fee attached. Funds usually take a few business days to arrive in the user’s account before they can be traded. However, moomoo has an exciting ‘Instant Buying Power’ feature that allows users to invest the balance of their pending deposit in US-based stocks and IPOs before it arrives.

Finally, moomoo doesn’t charge any fees for users who wish to withdraw via ACH transfer. However, withdrawals via wire transfer are accompanied by a fee ranging from $25 to $45.

Is moomoo Safe?

SEC logoAnother critical consideration of our moomoo review was account safety. Thankfully, moomoo gets top marks in this regard, as it is regulated in the US by the SEC and FINRA – two of the most reputable institutions in the space. Moreover, moomoo is regulated in Singapore by the Monetary Authority of Singapore (MAS).

Aside from regulation, Moomoo Financial Inc. is a member of SIPC, which protects securities  customers of its members up to $500,000 (including $250,000 for claims of cash). Explanatory brochure available upon request or at

moomoo Customer Service

Our research and testing found that moomoo had excellent customer service options. These include email, live chat, and telephone support for users based in both the US and Singapore.

What’s more, the response times with each method were speedy – ensuring users could obtain targeted help as quickly as possible. If that wasn’t enough, moomoo even has a comprehensive ‘Help Centre’ featuring answers to the most commonly-asked questions. 

How to Get Started with moomoo Today – Full Walkthrough

Before concluding our moomoo broker review, it’s essential to discuss the sign-up process. With moomoo, new users can open an account in minutes – all without having to complete and send off any physical paperwork.

So, without further ado, here are the four steps that users must take to get started with moomoo today:

Step 1 – Set Up a moomoo Trading Account

Head to moomoo’s homepage and click the ‘Get Started’ button. Enter a valid email address in the box that appears, then choose an appropriate password for the account.

moomoo sign up

Your capital is at risk.

Step 2 – Verify Account

Before being able to trade, new users must verify their account. To do so, provide the following through moomoo’s online application portal:

  • Proof of ID (e.g. passport)
  • Proof of address (e.g. bank statement)
  • Employment status
  • Financial status
  • Tax information

Moomoo is often able to complete the information review on the same day. However, sometimes this process can take 1-3 business days to finalize.

Step 3 – Fund Account

Once verified, users are free to fund their trading account. Moomoo has no minimum deposit threshold and supports USD as a base currency. In terms of deposit methods, moomoo accepts the following:

  • ACH transfer
  • Domestic wire transfer
  • International wire transfer

Step 4 – Begin Trading with moomoo

After a deposit has been made, users are free to begin trading. This is simply a case of using the desktop or mobile trading platform to find an appropriate asset. Once an asset has been found, enter the desired trading size, choose the order type, enter the six-digit trading password provided during the account opening process, and finalize the transaction.

moomoo buy stocks

Moomoo Review – Conclusion

In summary, this article has presented our in-depth moomoo review, covering its fee structure, asset selection, available platforms, and more. As a result, readers should clearly understand what moomoo offers in the trading space.

Those looking to get started with moomoo today can create a brokerage account in less than ten minutes through the digital sign-up process. Once signed up, users can make a deposit and begin trading US stocks, ETFs, and options – all with zero commissions.

moomoo logo

Your capital is at risk.


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Moomoo is a financial information and trading app offered by Moomoo Techonologies Inc. Securities are offered through Moomoo Financial Inc., Member FINRA/SIPC. The creator is a paid influencer and is not affiliated with Moomoo Financial Inc. (MFI), Moomoo Technologies Inc. (MTI) or any other affiliate of them. The experiences of the influencer may not be representative of the experiences of other moomoo users. Any comments or opinions provided by the influencer are their own and not necessarily the views of MFI, MTI or moomoo. They do not endorse any trading strategies that may be discussed or promoted herein and are is not responsible for any services provided by the influencer. This advertisement is for informational and educational purposes only and is not investment advice or a recommendation to engage in any investment or financial strategy. Investing involves risk and the potential to lose principal. Investment and financial decisions should always be made based on your specific financial needs, objectives, goals, time horizon and risk tolerance. Any images shown are strictly for illustrative purposes.


About Connor Brooke PRO INVESTOR

Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.