Learn more about Moomoo.

The Futu Holdings Ltd. subsidiary Moomoo Inc. was established in March 2018. The broker’s goal is to give investors a user-friendly, potent investment platform built on cutting-edge technologies. Moomoo, which primarily targets US and Chinese investors, is overseen and approved by the Financial Industry Regulatory Authority (FINRA) and the US Securities and Exchange Commission (SEC) (FINRA). The Monetary Authority of Singapore oversees the service in Singapore (MAS).

Futu, the parent business of Moomoo, is supported by well-known investors such as Tencent, Matrix, and Sequoia.

Trading platform

Moomoo offers a trading platform that is suitable for both beginners and experienced traders. Customers can download the platform to desktop devices that support Windows and Mac. There is no web browser compatibility.

Features include:

• Profit and loss analysis
• 62 technical indicators
• Portfolio and honoraria reports
• 22 powerful drawing tools
• Customizable user interface
• Conditional alerts and notifications
• Ticket or asset search function with an automatic offer
• There are several order types available, including limit, market, stop, stop limit, and trail limit.

Visit the Moomoo website for a downloadable platform guide.

Assets and Markets

Moomoo offers clients the opportunity to invest in and trade over 5,000 stocks and ETFs. Shares are available in the following markets:

• China–A Shares via Hong Kong Exchange
• Hong Kong: Shares and ETFs through the Hong Kong Exchange
• USA: stocks, options, ETFs, ADRs, OTCs, and IPOs through NASDAQ, NYSE, and the Chicago Mercantile Exchange

Clients can make educated guesses about some of the world’s biggest brands using a suite of analysis tools.

Fees

US citizens can trade stocks, ETFs, and options commission-free with Moomoo. The US Securities and Exchange Commission (SEC), for instance, levies a tiny commission on stock sale orders. Nevertheless, regulatory costs do apply. This is a broker-free transaction, and the rate is minimal (0.0000051 x the transaction amount at the time of writing). Additionally, there are charges for trading activity ($0.002 per contract, minimum $0.01 per order), options adjustment ($0.0378 per contract), and OCC ($0.02 per contract (0–2750 contracts) or $55.00 per trade (>2750 contracts).

Both Chinese A-shares and Hong Kong shares are subject to commission charges. They pay 0.03% of the total amount due, or HK$3/CNH3 (whichever is higher). Along with numerous regulatory expenses like stamp duty, trade tariffs, and exchange settlement fees, there is also a platform fee of HK$15 or CNH15 per order. On the broker’s website, you can get the complete charge schedule.

There are no account opening, maintenance, or inactivity fees, which is significant because it allows traders to determine profits depending on each trade. The fee structure is simple compared to rivals like WeBull, Interactive Brokers, and eToro.

Leverage

The maximum ratio for margin trading in US stocks is 1:2. However, this choice might not be available if your net worth is less than $2,000. The annual margin rate (also known as interest on borrowed funds) is also fairly high, with an annual flat rate of 6.8% vs. 2.5% in Robinhood.

Margin trading is a dangerous tactic. Before trading, ask yourself whether you can afford to lose more than your initial investment.

Mobile trading

The key benefit of Moomoo is its user-friendly smartphone app. On iOS and Android devices, this can be downloaded for free from the corresponding app store. The broker’s website also includes QR codes for quick downloads.

It is a versatile platform that provides real-time charts and a thorough trading history. Additionally, it allows you to view investments on the go and gives you access to all analytics features, including releases of economic data and earnings calls. The Moomoo app is offered in Chinese or English.

Other notable features include:

• Trade notes were tracked.
• Multiple custom charts
• Asset search function
• Alerts and notifications are available.
• User-friendly design with easy navigation
• Technical and fundamental analysis of trading companies
• There are several order types available, including limit, market, stop, stop limit, and trail limit.

Deposit and withdrawal of funds

Deposits

Moomoo has no minimum deposit requirement, which is ideal for new traders. Deposit currencies include USD, HKD, and CNH.

Accepted payment methods:

• Automated Clearing House (ACH) Transfers US bank accounts only; no deposit fee; 5-business-day settlement; maximum deposit of $5,000 per transaction.
• Domestic Wire Transfer: $10 fee plus bank charges (estimated to be no more than $50), settled within 1-3 business days.
• International Wire Transfer: $10 fee plus bank charges (estimated to be no more than $70), settled within 1-3 business days

Instant purchasing power is available interest-free on US stocks and IPOs. This provides each trader with a $1,000 limit, which can be increased to $2,000 if you have sufficient assets in your account. Instant purchasing power is available as soon as your deposit is cleared or within 7 days of initial provision.

Withdrawals

For ACH transfers, Moomoo does not charge any withdrawal fees; however, wire transfers are subject to a $25 fee in addition to any bank fees. Withdrawals through wire transfer are only possible in USD. Before making a withdrawal, customers must use the platform’s currency exchange to convert their money.

$10,000 is the maximum withdrawal amount; however, traders may start numerous transactions. It can take up to five business days on average to process an order.

Customer Service

Moomoo offers customer support through the following channels:

• Email: support@moomoo.com
• Social networks: Twitter and Facebook
• Address: 720 University Avenue, Suite 100, Palo Alto, CA 94301, USA

On the Moomoo website, the FAQ Help Center is an excellent resource for finding answers to frequently asked questions. It features a user manual with information on option costs, trading techniques, and how to withdraw money. Self-help books are also available to assist you in resolving issues, such as learning how to unlock trades or comprehending the reasons why you are unable to withdraw money.

Conclusion

Moomoo is a trustworthy, user-friendly, proprietary terminal ideal for novice or seasoned investors. It is perfect for those with minimal capital requirements because there is no minimum deposit requirement here. There is a demo account offered, and advanced analysis tools are accessible.

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