MOOMOO 2025 Review: Everything You Need to Know
Moomoo has emerged as a popular trading platform, especially among active traders seeking low-cost trading options and advanced analytical tools. It offers commission-free trading for U.S. stocks, ETFs, and options, alongside access to international markets, including Chinese A-shares and Hong Kong stocks. However, it lacks certain features such as retirement accounts and cryptocurrency trading, which might limit its appeal for some investors.
Note: It is important to consider that Moomoo operates through various entities across different regions, which can impact the services provided. This review synthesizes information from multiple sources to ensure fairness and accuracy.
Rating Overview
We evaluate brokers based on comprehensive metrics, including user feedback, expert analysis, and factual data from credible sources.
Broker Overview
Founded in 2018 and headquartered in Palo Alto, California, Moomoo is a subsidiary of Futu Holdings Ltd., which is publicly traded on NASDAQ. The platform provides a user-friendly trading experience through both mobile and desktop applications, allowing users to trade U.S. stocks, ETFs, options, and access international markets, specifically in Hong Kong and mainland China. Moomoo is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), ensuring a level of trust and security for its users.
Detailed Analysis
Regulated Geographical Areas
Moomoo operates in several regions, including the United States, Hong Kong, Australia, and Singapore. Each region has its own regulatory framework, which influences the services and protections available to users. The platform is registered with the SEC and is a member of SIPC, providing up to $500,000 in insurance for customer accounts.
Deposit/Withdrawal Currencies
Moomoo supports deposits and withdrawals primarily in USD, with some facilities for other currencies depending on the region. Users can fund their accounts via ACH transfers, which are free, while wire transfers incur fees ($20 for domestic and $25 for international).
Minimum Deposit
One of Moomoo's appealing features is its $0 minimum deposit requirement for opening an account. This makes it accessible for traders at all levels, especially beginners who may not want to commit a large sum initially.
Currently, Moomoo offers a competitive cash sweep program that pays up to 8.1% APY for uninvested cash for new users, which is significantly higher than most savings accounts. Additionally, users can earn up to 15 free stocks based on their deposits, enhancing the platform's attractiveness.
Tradable Asset Classes
Moomoo allows trading in U.S. stocks, ETFs, options, American Depositary Receipts (ADRs), and offers access to Hong Kong and Chinese A-shares. However, it does not support mutual funds, bonds, or cryptocurrencies, which may deter some investors.
Costs (Spreads, Fees, Commissions)
Moomoo‘s fee structure is highly competitive, with $0 commissions on U.S. stocks, ETFs, and equity options. Index options incur a $0.50 per-contract fee. For trades in Hong Kong and China, there is a commission of 0.03% of the trade value, plus a platform fee (approximately $2). Overall, Moomoo’s trading costs are favorable compared to many competitors.
Leverage
Moomoo offers margin trading with competitive rates starting at 6.8% for U.S. and Hong Kong stocks, while the rate for Chinese A-shares is slightly higher at 8.8%. This flat rate structure is beneficial for traders who may not have large account balances.
Moomoo provides a proprietary trading platform that is available on both desktop and mobile devices. The platform is known for its advanced charting tools, customizable dashboards, and a variety of order types. However, it does not support popular platforms like MT4 or MT5, which may be a drawback for some traders.
Restricted Regions
While Moomoo is available in multiple countries, it does not offer services in certain regions, and potential users should verify availability based on their location.
Available Customer Support Languages
Moomoo provides customer support primarily in English, with additional support available in Chinese. Users can reach out via live chat, email, or phone during business hours, but the absence of 24/7 phone support may be a limitation for some.
Repeated Rating Overview
Detailed Breakdown
- Account Conditions (8/10): Moomoos $0 minimum deposit and no account maintenance fees make it very accessible. However, the lack of retirement accounts may deter some investors.
- Tools and Resources (9/10): The platform offers advanced charting, real-time data, and a community feature that allows for social trading and sharing insights.
- Customer Service and Support (7/10): Support is available through various channels, but the lack of 24/7 phone support may be a drawback for urgent inquiries.
- Trading Experience (8/10): The trading interface is intuitive, but beginners might find the wealth of information overwhelming initially.
- Trustworthiness (8/10): Moomoo is regulated by reputable authorities, and user funds are protected up to $500,000 under SIPC.
- User Experience (8/10): The mobile and desktop apps are user-friendly, but some users report issues with order execution quality.
- Promotions (7/10): The cash sweep program and free stock promotions are attractive, but the lack of ongoing promotions may limit appeal.
In summary, Moomoo is a solid choice for active traders looking for low-cost trading options and advanced tools, particularly for those interested in international markets. However, its limitations in asset classes and account types may not suit every investor's needs.
