Moomoo Review

Moomoo Ratings at a Glance

Who is MooMoo for?

Moomoo is for options investors of all trading levels, offering competitive rates and zero commission fees but also pricing that includes reduced contract fees for index options and zero contract fees on equity options, sets Moomoo apart. This brings them one step closer to becoming the budget-friendly premium options platform of choice. This is particularly appealing in today's cost-conscious market.

Moomoo's platform is also designed to make options trading more accessible, provide a more inclusive experience, and offer a wealth of tools at your fingertips. Its advanced tools and user-friendly offerings are neatly organized, enabling users to access a wide range of research tools, including a variety of free options analysis tools, to help them make informed investment decisions. 

These include real-time options data, and unusual options activities, providing a comprehensive options toolkit for traders without any additional fees or charges. 

While Robinhood is great for those just starting out with options, moomoo 's advanced charting and real-time data provides more in-depth analysis. This makes moomoo an excellent choice for new options traders who are ready to upgrade their trading platform without high costs.

For users who want to simulate the trading experience before fully committing, there's a paper trading feature with real-time data to get users comfortable, gain experience, and try new strategies if they're more advanced investors.

With moomoo, investors can invest anywhere, anytime, whether they're on the go or at home in front of the desktop utilizing customized set-ups synced across all devices. 

And there’s no minimum deposit needed to open an account as well as a robust cash sweep program for enrolled users to earn interest on their uninvested cash.

Active/Advanced Traders 

Awarded the Best Active Trading App**** in 2021 by investingsimple.com, moomoo provides a robust experience for active and advanced traders. User benefits include:

• Free quotes and data
• 6.8% low margin rates
• Advanced order types including customized and pre-set options strategies
• Market trend monitoring using powerful trading tools
• Real-time Level 2 data for funded brokerage accounts
• 5.1% APY in Cash Sweep program for new and qualified users**

All of these features are available on the mobile app, tablet, and desktop platforms for seamless trading capabilities and experiences.

And for options traders, Moomoo offers stock and index options, with lower fees: $0.5 index options contract fee, and $0 equity options contract fee*.

Moomoo offers its platform on the phone, tablet, and desktop, enabling investors to sync up across screens. For investors who want to get serious about their options trading, they can use multi-screen trading and expand their trading techniques and experiences. 

With moomoo's tools, investors can conduct research, make informed trading decisions, and progress towards their investment goals. These features include:

• Level 2 data***. In addition to streaming real-time quotes that enhance the trading experience, moomoo offers Level 2 quotes for stocks and options from multiple exchanges, including Nasdaq TotalView provided by the NASDAQ stock exchange.Users can review data by price aggregation, 60 bids/asks, depth chart, and more, helping them to make informed trading decisions. Moomoo often presents enticing promotions for free NYSE Arcabook data (funded brokerage account required), which otherwise typically incur industry fees. A funded brokerage account is required after a 30 day free trial for new users. 
• Advanced technical indicators and charting. Moomoo has impressive charting features, including standard charts like bars, 20 candle patterns (10 bullish and 10 bearish) and advanced multi-charting with 100+ technical indicators including the VWAP and 37+ drawing tools.
• Advanced orders. Moomoo provides access to pre- and post-market trading with advanced stock orders, including stop-limit orders and trailing stop-loss orders. 
• Full extended trading hours. You can enter and exit trades for breaking news or earnings reports through moomoo's full-extended trading hours from 4 AM to 8 PM EST.

• Analysis and tools. With moomoo’s customizable screeners for stocks, ETFs, options, and even international securities, strategies can be built, saved, and sync to go. You can sort equities by various conditions, including market factors, fundamentals, and technical factors. 
• Market monitor. Alerts on moomoo are customizable and comprehensive. Users can set their own price alerts, bid/ask alerts, and event alerts, with in-app and phone notifications pushed to avoid missing timely and potentially important opportunities through synchronized set-ups. This enables investors to keep an eye on the market, anywhere, anytime.  
• moomoo's advanced monitor tools provide an efficient way to find stocks that are moving among thousands of data points by automatically monitoring changes in various markets for all stocks without manually tracking.
• Customizable news and insights. Investors can stay up-to-date with the latest Wall Street news anytime through moomoo's complimentary 24/7 newsfeed. This resource provides real-time access to financial media giants like CNBC, Bloomberg, and Dow Jones Newswires. Additionally, moomoo offers exclusive market insights from their dedicated news team. Tailored to individual investor positions and calendars, these news feeds can deliver a personalized and dynamic information experience.
• Active community. Within the app, users can join an active community of 20M+ global users (Users of Moomoo Technologies Inc. and its affiliates as of 05/2023). This inclusive space allows for commenting, tagging, forwarding, and even conducting polls, encompassing the full range of interactions found in a well-established online community. It serves as an informative platform for novice investors to gain knowledge, a place for casual traders to connect, and a hub for active traders to exchange ideas and share strategies.

Moomoo is commission-free for U.S. Stocks, ADRs, ETFs, and options trading. It does not charge equity options contract or platform fees. It has no monthly maintenance fees or data fees for real-time monitoring. See below for information on additional fees.

• Options: SEC transaction fee of $0.000008 for sell orders; a FINRA Trading Activity Fee of $0.00244; an Options Regulatory Fee (ORF) of $0.01 per contract; an OCC fee of $0.02 per contract for 0 to 999 contracts or $55 per trade for over 999 contracts; an exchange fee that varies by exchange
• Stocks: Securities and Exchange Commission (SEC) transaction fee of $0.000008 for sell orders; a Financial Industry Regulatory Fee (FINRA) trading activity fee of $0.000145; American Depositary Receipt (ADR) custodian fee of $0.01 to $0.05 per share
• Outgoing wires (domestic): $20 per transaction 
• Incoming wires (domestic): $0
• Outgoing wires (international): $25 per transaction
• Incoming wires (international): $0
• Outgoing stock transfers: $75 per transfer
• Ingoing stock transfers: $0

New Offer!

From May 29, 2024 - Sept 30, 2024 you can earn a Moomoo free stock bonus when you:

1. Open an account: Get a 5.1% APY + 3% booster (Capped at $20,000 for 3 months).
2. Deposit $100: Get a chance to win 5 free stocks (lucky draw).
3. Deposit $1000: Receive an additional 10 free stocks (total of 15).

Eligibility: Users who neither deposited nor transferred before May 29

Another New Offer!

From May 29, 2024 - Sept 30, 2024 you can earn a cash reward match of up to 1.5% on your first transfer (up to $300) and a cash coupon up to $300.

Eligibility: Users who neither deposited nor transferred before May 29

Is moomoo Safe?

You can read the feedback on the consumer review platforms like Trustpilot. And be sure to read the details of moomoo's personal information privacy policies if you are interested in knowing more about how your details are used.

Have a question about moomoo or need help navigating the platform? 

Submit an inquiry via the mobile app to their customer service. Be sure to provide your email address, moomoo ID, a subject, and description of your question and any related attachments. You'll also need to choose the most relevant category from this list — general, account, funding, trading and options or promotions.

For clients in the US cs@us.moomoo.com.

moomoo also offers 24-hour live chat support, as well as phone support at 1-888-721-0610 during trading hours.

The help center is also available across all platforms for answers to common questions falling into these categories:

• Account: learn more about account profiles and opening or closing an account 
• Funding: find information on deposits, withdrawals and the instant deposit feature 
• Trade: answer general trade, options, margin trade, pattern day trading and derivative-related questions
• Transfer: learn how to transfer accounts, stocks and account assets
• moomoo use: learn more about market quotes and analysis and how to reset your login or trading password
• Promotions: find answers about terms and conditions and current promotions including welcome bonuses and transfer ins. 
• Fees and taxes: gain more in-depth insights on the fee schedule and taxation

• Stocks, including Hong Kong stocks, Chinese A-shares
• Over 8,000 different stocks available for short-selling
• Options 
• Exchange-traded funds (ETFs) 
• American depositary receipts (ADRs)
• IPO stocks subscription 

For retail investors, international trading opportunities is a plus. You can trade stocks in other markets with low fees compared with other platforms.

Want to give Moomoo a test drive? Get started in minutes. Visit moomoo’s homepage or download the mobile app on your Apple, Google or Windows device. 

You can open an account if you’re a U.S. resident, 18 or older, with a valid Social Security number.

Follow these instructions to apply for a brokerage account through the Moomoo app: 

• Select “Open Account” from the dashboard. 
• Enter your email address and set a unique password.
• Input your full legal name, phone number, date of birth and Social Security number. 
• Select your country of citizenship from the comprehensive list of options.
• Enter your mailing address.
• Answer questions about your employment status. Indicate if you’re employed, unemployed, retired or a student. Enter your industry, employer name and occupation. 
• Select your annual income and total net worth from the ranges presented. 
• Answer the personal disclosure questions. 
• Sign your full name and submit the application. 

Applications are processed within 1 business day. Expect an email response indicating if you are approved to start investing with Moomoo or if they need additional information to process your application. 

Whether you’re a new or experienced investor, Moomoo is a reliable platform to grow your assets. Its streamlined application process allows you to start making trades within 1 business day and you’ll enjoy commission-free trading. 

You can also use its tools and resources to simulate trades or monitor market activity in real-time without incurring any fees. The app is accessible 24/7 if you need to adjust your portfolio.

Create a free account with Moomoo today and experience all the mobile-trading app has to offer. You can invest with companies you love while at work, home or on-the-go.

claim now

New User Deposit Bonus

Get 8.1% APY* for 3 months on idle cash and up to 15 free stocks with qualified deposits

claim now

Disclosure: *Offer terms and conditions apply. View disclosure for more details: https://www.moomoo.com/us/support/topic4_410

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Frequently Asked Questions

Disclosures:
*$0 commission trading is available only to U.S. residents trading in the U.S. markets through Moomoo Financial Inc. Other fees may apply, for more information, visit moomoo.com/us/pricing. Margin trading entails greater risk, including risk of loss and incurrence of margin interest debt, and is not suitable for all investors. The Margin Rate is subject to change without notice.
**Cash Sweep Program 5.1% APY eligibility: All new user brokerage accounts. Existing user brokerage accounts must refer a friend to deposit $100+ OR deposit/transfer $500 themselves to access the higher rate (If conditions are not met, rate is 0.03%). Rates are as of 11/04/23 and is subject to change.
***Level 2 data is free for Moomoo Financial Inc. accounts with a minimum 30-day average account value of $100+. Other conditions apply, to learn more, visit moomoo.com/us/support/topic3_435
**** Accolades are not indicative of future performance. MFI, MTI, and moomoo are not affiliated with Investing Simple. For additional information, including award methodology please visit:

https://www.investingsimple.com/best-financial-money-apps/
Options trading is very risky and is not appropriate for all customers. Read the Characteristics and Risks of Standardized Options (j.us.moomoo.com/00xBBz)before considering trading options. Options transactions are complex and may involve losing the entire investment in a short period of time. Supporting documentation for any claims, if applicable, will be furnished upon request.

Benzinga was commissioned for this article and is not affiliated with the moomoo app or it's affiliated companies. Investing involves risks. This content is for informational use only and not a recommendation of any investment strategy. The Cash SweepProgram is a feature of the brokerage account and should not be viewed as a long-term investment or savings option. The APY might change at any time. Neither Moomoo Financial Inc. nor any of its affiliates are banks.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.

Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission(ASIC).