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Moomoo Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.moomoo.c..., the company's legitimate regulatory information SingaporeMASRetail Forex License, United StatesNFACommon Financial Service License to enhance the security of the company's address Level 9, 75A, Jalan Raja Chulan, Bukit Bintang, 50200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur

Moomoo Forex Broker

Basic Information

Registered Region
Malaysia
Operating Period
--
Company Name
Moomoo Securities Malaysia Sdn. Bhd.
Abbreviation
Moomoo
Company employee
--
Customer Service Email Address
support@my.moomoo.com
Contact Number
+60392120708
Company address
Level 9, 75A, Jalan Raja Chulan, Bukit Bintang, 50200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
Keywords
2-5 years
Regulated in Singapore
Retail Forex License
MT5 Full License
Global Business
Suspicious Overrun
High potential risk

Company profile

Aspect Information Registered Country/Region Palo Alto, California, USA Founded 2018 Regulation MAS, NFA (Suspicious clone) Tradable Assets Stocks, options, funds, US treasury, cryptocurencies (coming soon) Demo Account Available ($1 million in virtual money for stocks or options, and $10 million for futures) Minimum Deposit No Trading Platforms MOOMOO trading platform (mobile app and desktop platform) Customer Support 24/7 online chat Phone: +65 6321 8888 Email: clientservice@sg.moomoo.com Prromotion Yes What is Moomoo? Moomoo is a MAS-regulated trading platform that serves a broad spectrum of investors, offering tools and resources aimed at facilitating access to global financial markets. Established to support both novice and experienced traders, Moomoo provides functionalities that accommodate various trading styles and preferences. The platform features real-time data and multiple trading instruments, including stocks, options, and futures. Pros & Cons Moomoo, as a newer entrant in the U.S. discount brokerage industry, offers several advantages. It provides low commissions for stock and ETF trades for options trading. Traders benefit from quick screens, Level II data, and access to China A-shares and the Hong Kong stock market, which are uncommon features among American brokers. Additionally, moomoo offers better-than-average margin rates, making it attractive for traders who utilize margin loans. However, there are some drawbacks to consider. Moomoo imposes significant transfer-out fees, which could discourage transferring large portfolios. Pros Cons Low commissions for stock and ETF trades Whopping transfer-out fees Better-than-average margin rates Quick screens and Level II data Access to China A-shares and Hong Kong markets Is Moomoo Legit? Moomoo operates as a legitimate financial trading platform, adhering to regulations set by reputable authorities. It is regulated by the Monetary Authority of Singapore (MAS) under license number CMS101000 and by the National Futures Association (NFA) in the United States with license number 0523957. These regulatory bodies ensure that Moomoo maintains high standards of financial integrity and consumer protection. Additionally, U.S. securities held in accounts through Moomoo are protected up to $500,000 by the Securities Investor Protection Corporation (SIPC), which adds an extra layer of security for investors' assets. This protection covers against the loss of cash and securities in case the broker fails financially. The availability of this information and adherence to regulatory guidelines helps establish Moomoo as a credible and reliable platform for trading and investment. Market Instruments Moomoo provides a diverse range of market instruments, catering to various investment preferences and strategies. The platform allows users to trade stocks, which includes a wide selection of public companies from different sectors and industries. Additionally, Moomoo offers options trading, giving traders the flexibility to speculate on future price movements or hedge existing positions. For those interested in a more diversified approach, Moomoo also provides access to various funds, including mutual funds and ETFs, as well as US Treasury securities, which are government debt instruments known for their safety and stability. Moreover, Moomoo is planning to expand its offerings by introducing cryptocurrencies soon, which will allow users to engage with the dynamic and rapidly evolving digital asset market. Features Moomoo offers a robust suite of features designed to enhance the trading experience for both novice and experienced traders. The platform provides advanced charting capabilities, allowing users to choose from over 63 indicators and 38 advanced drawing tools, facilitating detailed technical analysis to inform trading decisions. Additionally, Moomoo's stock analysis tools are equipped with real-time data, providing traders with up-to-the-minute information to help them stay ahead in fast-moving markets. For those looking to deepen their understanding of trading and investment strategies, Moomoo also offers “Learn Premium,” which includes 8 premium courses encompassing 120 lectures. These educational resources cover a broad range of topics, designed to enhance traders' knowledge and skills in a structured learning environment. Collectively, these features make Moomoo a comprehensive platform that supports effective trading and continuous learning. Fees Moomoo offers a competitive and transparent fee structure across various market instruments, making it an attractive option for investors looking for cost-effective trading. Investment Choice Commission Platform Fee US Stocks, ETFs & Fractional Shares $0 $0.99 / Order Singapore Stocks, ETFs and REITs 1 Year Commission-Free* 0.03% * Transaction amount, min 0.99 / Order Hong Kong Stocks and ETFs 0.03%* of the investment amount or HK$3 which ever is higher 180 JPY/order China A-shares 0.03% * Transaction amount, min 3 CNH / Order 15 CNH / Order Japan Stocks and ETFs 0.08%, min 80 JPY/order 180 JPY/order For US stocks, ETFs, and fractional shares, Moomoo charges no commission and only a minimal platform fee of $0.99 per order. In Singapore, trading in stocks, ETFs, and REITs is commission-free for the first year, with a subsequent low transaction fee of 0.03%, and a minimum charge of $0.99 per order. Hong Kong stocks and ETFs incur a fee of 0.03% of the investment amount or HK$3, whichever is higher, along with a platform fee of 180 JPY per order. Trading China A-shares involves a commission of 0.03% with a minimum of 3 CNH per order and an additional platform fee of 15 CNH per order. For Japan stocks and ETFs, the fees are set at 0.08% with a minimum of 80 JPY per order plus a platform fee of 180 JPY per order. This structured approach to fees ensures that traders can manage their trading costs effectively while accessing diverse global markets through Moomoo's platform. More detailed info on fees can be found on their website. Paper Trading Moomoo provides an excellent opportunity for traders to hone their skills and test strategies through its paper trading feature. This simulation allows users to engage in trading with virtual money, mirroring the real market environment without any financial risk. To further enhance this experience, Moomoo includes a Paper Trading Calculator, which aids traders in analyzing their trades, understanding potential profits and losses, and making informed adjustments to their strategies based on hypothetical outcomes. This tool is particularly valuable for beginners who are learning the ropes and seasoned traders testing new strategies. Promotion Moomoo offers a variety of enticing promotions designed to attract new users and reward existing ones. New traders can benefit from a generous welcome rewards program that provides a starter kit worth up to $970, making it an attractive incentive for those just beginning their trading journey. Additionally, Moomoo encourages its users to invite friends with a referral rewards program where both the referrer and the referred friend can share a total of $1,200. For those looking to consolidate their investments, Moomoo offers a transfer-in promotion where clients can receive high-value items such as an iPhone 15 Pro Max as a reward for transferring their assets to Moomoo. Moreover, for traders aiming to enhance their investment skills, Moomoo's Learn Premium offers advanced courses designed to take investing knowledge to the next level. Customer Support Moomoo is committed to providing exceptional customer service with several convenient options for support. They offer 24/7 online chat, allowing users to get immediate assistance at any time of the day. For more direct communication, customers can call their hotline at +65 6321 8888 or send an email to clientservice@sg.moomoo.com for queries that may require detailed responses. Additionally, Moomoo has a strong presence on social media platforms including Facebook, YouTube, Telegram, Instagram, and TikTok, enabling them to engage with customers and provide updates and support in a more informal manner. The Support Center on their website is another resourceful tool where users can find answers to frequently asked questions and troubleshoot common issues. Conclusion In conclusion, Moomoo presents itself as a versatile trading platform equipped with a range of features that cater to different investor requirements. With its array of analytical tools and educational resources, it supports informed trading decisions but maintains a straightforward approach without extensive customization options found in some competing platforms. As with any trading platform, every investor should consider the specific investment needs and preferences alongside Moomoos offerings to determine if it aligns well with their trading strategies. FAQs Which countries does Moomoo operate in? Moomoo operates in several countries including the United States, Singapore, and Australia. However, it does not solicit investors or market its services in China and certain other jurisdictions. What types of trading does Moomoo support? Moomoo supports various types of trading including stocks, options, ETFs, and futures. It also plans to introduce cryptocurrency trading. Is there a demo account option available on Moomoo? Yes. Does Moomo offer any promotions or bonuses for new traders? Yes. More details can be found in the 'Promotion' part of this article.

Rating Index

How to login to Moomoo?
MOOMOO Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a MOOMOO Account Registering for a MOOMOO account is the first step to accessing the platform's trading features. Follow these detailed steps to complete your regi

  

Moomoo Broker - Complete Information Guide

  

1. Broker Overview

  Moomoo Financial Inc., founded in 2018, is a prominent online brokerage firm based in Palo Alto, California, with an additional office in Jersey City, New Jersey. It operates as a subsidiary of Futu Holdings Ltd, a publicly traded company listed on the NASDAQ under the ticker symbol FUTU. Moomoo primarily serves individual investors and active traders, providing them with a robust platform for trading various financial instruments.

  Since its inception, Moomoo has rapidly expanded its services, gaining recognition for its user-friendly trading app and advanced analytical tools. The company has achieved significant milestones, such as gaining access to international markets, including Hong Kong and China A-shares, making it a unique player in the brokerage space. Moomoo's business model focuses on retail trading, offering commission-free trading on U.S. stocks, ETFs, and options, catering to both novice and experienced traders seeking low-cost trading solutions.

  

2. Regulation and Compliance Information

  Moomoo operates under the regulatory oversight of several key authorities, ensuring compliance and safeguarding investor interests. The primary regulatory bodies include:

  • U.S. Securities and Exchange Commission (SEC)
  • Financial Industry Regulatory Authority (FINRA)
  • Monetary Authority of Singapore (MAS)
  • Australian Securities and Investments Commission (ASIC)

  Moomoo holds the following regulatory numbers:

  • SEC Registration Number: 8-69739
  • FINRA CRD Number: 283078
  • MAS License Number: CMS 101000

  The firm maintains strict compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, ensuring that all clients undergo thorough identity verification processes. Moomoo also implements a robust customer fund segregation policy, keeping client assets separate from its operational funds. Moreover, as a member of the Securities Investor Protection Corporation (SIPC), Moomoo provides investor protection up to $500,000, which includes $250,000 in cash claims.

  

3. Trading Products and Services

  Moomoo offers a diverse array of trading products, making it appealing to various types of investors. The key offerings include:

  • Forex Trading: Moomoo provides access to a limited selection of currency pairs, focusing primarily on major currencies.
  • CFD Products: The platform enables trading in various CFDs, including indices, commodities, and stocks, but does not currently support cryptocurrency trading.
  • Unique Offerings: Moomoo stands out by offering access to China A-shares and Hong Kong stocks, which are typically difficult for non-Chinese investors to access.
  • Retail Trading Services: The platform is designed for retail investors, providing tools to assist in trading strategies and market analysis.
  • Institutional Services: While Moomoo primarily targets retail clients, it also offers services that can cater to institutional needs, albeit with limited offerings compared to larger competitors.

  Moomoo frequently updates its product offerings, ensuring that clients have access to the latest financial instruments and trading opportunities.

  

4. Trading Platforms and Technology

  Moomoo provides a sophisticated trading environment through its proprietary trading platforms. Key features include:

  • MetaTrader Support: Moomoo does not support MetaTrader 4 or 5, focusing instead on its own advanced trading platforms.
  • Desktop Platform: The Moomoo desktop platform is compatible with both Windows and Mac operating systems, offering a user-friendly interface with customizable features.
  • Mobile Application: Moomoo's mobile app is available for both iOS and Android devices, allowing users to trade on the go with access to real-time market data and advanced charting tools.
  • Execution Model: Moomoo operates on a market-making model, providing liquidity and facilitating trades for its users.
  • API Access: Moomoo offers API integration for automated trading, catering to tech-savvy traders seeking to implement algorithmic strategies.

  The platform's technological infrastructure is designed to provide reliable performance, with servers located strategically to ensure low latency and fast order execution.

  

5. Account Types and Trading Conditions

  Moomoo offers a limited range of account types, primarily focusing on individual accounts. Key details include:

  • Standard Account Conditions: There is no minimum deposit requirement, and trading on U.S. stocks, ETFs, and options incurs no commissions.
  • Advanced Account Types: Moomoo does not currently offer specialized accounts such as VIP or Islamic accounts.
  • Demo Account Policy: Moomoo provides a demo account for practice trading, allowing users to familiarize themselves with the platform without financial risk.
  • Leverage Ratios: Moomoo offers leverage of up to 1:2 for margin trading, with a flat margin interest rate of 6.8% for U.S. and Hong Kong stocks.
  • Minimum Trade Size: The minimum trade size is typically one contract, equivalent to 100 shares of the underlying asset.
  • Overnight Fees: Moomoo does not charge inactivity fees, making it cost-effective for less active traders.

  

6. Fund Management

  Moomoo supports various deposit and withdrawal methods, ensuring flexibility for its users. Key points include:

  • Deposit Methods: Moomoo accepts bank transfers and ACH transfers for funding accounts, with no deposit fees for ACH transfers.
  • Minimum Deposit Requirement: There is no minimum deposit required to open an account, making it accessible to a wide range of investors.
  • Deposit Processing Time: Deposits typically take 1-3 business days to process, depending on the method used.
  • Withdrawal Methods and Limits: Withdrawals can be made via ACH or bank transfer, with no fees for ACH withdrawals. Domestic wire withdrawals incur a fee of $20, while international wire withdrawals cost $25.
  • Withdrawal Processing Time: The processing time for withdrawals is generally 1-3 business days, aligning with industry standards.
  • Withdrawal Fee Structure: Moomoo does not charge withdrawal fees for ACH transfers, but fees may apply for wire transfers depending on the user's bank.

  

7. Customer Support and Educational Resources

  Moomoo offers a variety of support channels and educational resources to assist its users:

  • Support Channels: Customers can reach Moomoo through email, live chat, and social media. However, phone support is limited.
  • Service Hours: Customer support is available from 8:30 AM to 4:30 PM ET on trading days, with 24/7 support via chat.
  • Multilingual Support: Moomoo supports multiple languages, catering to its diverse user base.
  • Educational Resources: The platform features a comprehensive learning center with articles, tutorials, webinars, and market analysis services to enhance traders' knowledge.
  • Trading Tools: Moomoo provides various tools, including calculators, economic calendars, and trading signals, to aid users in making informed decisions.

  

8. Regional Coverage and Limitations

  Moomoo has expanded its reach across several regions, but certain limitations apply:

  • Primary Service Markets: Moomoo primarily serves clients in the United States, Canada, Hong Kong, Australia, Malaysia, Japan, and Singapore.
  • Regional Offices: The company has established offices in key locations, including its headquarters in Palo Alto, California.
  • Countries with Restrictions: Moomoo does not accept clients from certain countries, including those with stringent financial regulations or where it does not hold the necessary licenses.
  • Special Limitations: Users should be aware of any specific restrictions related to the trading of certain products or services based on their location.

  In conclusion, Moomoo broker stands out as a competitive player in the online trading landscape, offering a user-friendly platform with a focus on low-cost trading and access to unique international markets. While it has some limitations regarding account types and product offerings, its robust technology and commitment to customer service make it a viable option for both novice and experienced traders.

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Latest Reviews

亿3122

亿3122

Hong Kong

I couldn’t withdraw the money before, and now it has directly disconnected the network.

Exposure

2024-08-25

白一喜

白一喜

Malaysia

Withdrawal authentication has been rejected many times, saying that it is not my bank account. Why don’t I need authentication when I deposit? ?

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2024-06-09

Gavinn

Gavinn

Singapore

Awesome! The app is super easy to use, packed with all the tools you need to trade like a pro. Love the real-time data and AI alerts that really help in making smart decisions.

Positive

2024-06-04

Moomoo Forex Broker has an overall rating of 2.26, Regulatory Index 3.92, License Index 0.00, Business Index 6.53, Software Index 9.42 Risk Control Index 0.00.