• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcast
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • Best Student Loans And Rates In January 2023
        • 10 Best Private Student Loans Of January 2023
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Student Loan Refinance Companies In January 2023
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers Of January 2023
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers Of 2023
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2023
        • M1 Finance Review
        • TD Ameritrade Review 2023
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review 2023
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 20 Best Side Hustles You Can Start Earning With In 2023
        • 53 Side Hustle Ideas To Make Money Fast
        • 100 Ways To Make Money In College
        • 80 Ways To Make Money From Home In 2023
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 40 Passive Income Ideas You Can Use To Build Wealth In 2023
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • 10 Best High Yield Savings Accounts Of January 2023
        • 10 Best Money Market Accounts Of January 2023
        • 10 Best Free Checking Accounts In January 2023
        • Best Bank CD Rates Of January 2023
        • 10 Best Business Checking Accounts In January 2023
        • Best Online Banks Of January 2023
        • Best Credit Unions Nationwide Of January 2023
        • Best College Student Checking Accounts Of January 2023
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • Best Credit Monitoring Services For 2023
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Forum
  • Search
Home » Investing » Brokerages » Moomoo Review: Investing And Stock Trading App

Moomoo Review: Investing And Stock Trading App

Updated: December 31, 2022 By Hannah Rounds

Tweet
Share
Share
Pin
Email
Print

moomoo review

Today, most discount brokerages offer free trades on most US-based stocks, ETFs, mutual funds, and bonds. Whether you’re a long-run investor or an active day trader, it's easy to find a platform like Moomoo that offers free trades on most securities and an easy-to-use platform to execute those trades. 

Moomoo is a newer entrant to the free online trading space. Backed by some of the largest names in venture capital, this app is likely to make a splash soon. It offers a huge library of articles that cover the basics of stock trading, and it has great visuals in its app.

The app got its start in Asia, with a focus on Hong Kong. As it enters the US-market, it not only offers US-based trading, but it also offers low-cost trading in the Chinese Stock Market (A-Share Market) and the Hong Kong Stock Exchange (HK Market). Moomoo is currently available to both US and Australian users.

If you’re looking to trade in an emerging market, Moomoo could be the most cost-effective platform to execute your trades. Here’s what you need to know about Moomoo.

Bonus: For US users, get up to 15 free stocks valued up to $2,000 each when you open a Moomoo account and complete qualifying activities. For Australian users, get $50 AUD cash back when you open a brokerage account via Moomoo and complete your first deposit of $500 AUD. Terms and conditions apply. Open an account here >>


moomooo review

Quick Summary

  • Free trades on U.S. Stocks and ETFs
  • Low-cost trading in A-Share and HK markets
  • Option to trade on margin
  • Compelling in-app user experience
OPEN AN ACCOUNT

Moomoo Details

Product Name

Moomoo

Min Investment

$0

Commission

$0

Fees

  • A-Shares Market:  $2 per trade
  • HK Stock Exchange:  0.03% + HK$15 per trade
  • U.S. Stock and ETF Trades: $0 + $0.65 per options contract

Promotions

Get up to 15 free stocks, valued up to $2,000 each

Table of Contents
What Is Moomoo?
What Does It Offer?
Are There Any Fees?
How Do I Contact Moomoo? 
How Does Moomoo Compare?
How Do I Open An Account?
Is It Safe And Secure?
Is It Worth It?

What Is Moomoo?

Moomoo is an emerging trading platform that is growing to be a popular choice for traders in search of a well-regulated place to trade stocks, ETFs, options and more at a low cost. Moomoo Financial is a subsidiary of Nasdaq-listed company Futu Holdings Ltd (Ticker: FUTU), and is regulated by the SEC and FINRA, with investor protection of up to $500,000 under the Securities Investor Protection Corporation (SIPC).  

While most free trading apps focus primarily on crypto and the U.S. securities markets, Moomoo takes its low-cost trading technology into other emerging markets. It allows you to make low-cost trades through the Chinese and Hong Kong stock exchanges. 

This opens up a whole new world of trading opportunities for those seeking to trade outside of the United States.

moomoo review: homepage

What Does It Offer?

Moomoo is a discount brokerage that offers direct access to the Hong Kong and Chinese stock exchanges. Its standout low fees make it a contender for people seeking access to international trading.

Low-Cost Trading In International Markets

Unlike most discount brokerages, Moomoo doesn’t limit trading to US-based stock exchanges. You can trade directly in international stock exchanges including the Hong Kong stock exchange and the Chinese Stock Exchange.

Option To Trade On Margin

Traders, who want to place larger bets than their balances allow, can take on debt (called margin) to make trades in Moomoo. Right now, margin rates on Moomoo range from 6.8% to 8.8% depending on the market you’re trading in. 

While Moomoo offers margin to most users, it is not a suitable tool for most investors or traders. It dramatically increases volatility and could lead you to wipe out your entire portfolio with a few bad trades.

moomoo review: learning tools

Free Trades On U.S. Securities

You can use Moomoo to place free trades on U.S.-based stocks and ETFs. While compelling, this feature is not unique to Moomoo. Most discount brokerages now offer similar commission-free trades.

Options Trade For $0.65 Per Contract

While free trades are common, many companies still charge exorbitant rates to trade options contracts. 

However, Moomoo charges just $0.65 per option contract. Webull and a few other sites offer free trading on all options trades, but $0.65 per contract is a very good price. 

All other fees that it charges are mandated by law and don’t vary from brokerage to brokerage.

moomoo review: professional stock trading tools

Are There Any Fees?

While Moomoo bills itself as a commission-free trading platform, it charges fees.

  • If you want to trade on the Hong Kong stock exchange you’ll pay a 0.03% trading fee plus HK$15 per trade, which is approximately $2 per trade, given current exchange rates.
  • Likewise, you’ll pay 15CNH (approximately $2) plus a 0.03% trading fee for all trades made in the A-Shares market.
  • U.S. stock and ETF trades are free, but you will pay $0.65 per options contract if you choose to trade options.

Margin rates on Moomoo fluctuate based on market conditions but are currently 6.8% APR for the U.S. and Hong Kong Markets and 8.8% for trading in the Chinese stock market.

How Do I Contact Moomoo? 

To contact Moomoo call cs@us.Moomoo.com or call 650-798-5700. The company is headquartered at 550 S. California Ave. Suite 201 Palo Alto, CA 94301.

It also offers 24/7 in-app customer service chat.

How Does Moomoo Compare?

When it comes to trading U.S. stocks or ETFs, Moomoo is nothing special. Its fees are low, but companies like M1 Finance, Robinhood, and even brokerages like Fidelity match Moomoo on cost but offer more functionality.

Moomoo has detailed graphs and interesting educational articles built into its information library. However, these features may lead novice traders to have confidence that outstrips their competence in the financial space. 

Learning to trade involves understanding downside and upside risks. It takes more than a flashy app to be a successful trader. Apps like Moomoo and Robinhood that over-emphasize the trading experience can often lead young investors down the wrong path.

The one thing that Moomoo has that other apps don’t is access to the Chinese stock markets. If you want to trade directly on the Hong Kong or A-Shares exchanges, you can do that through Moomoo. Your likelihood of making money doesn’t increase by using Moomoo, but it is a unique functionality.

Header
moomoo comparison
moomoo comparison: M1 Finance
moomoo comparison: TD Ameritrade thinkorswim

Rating

Commissions

$0

$0

$0

Min Investment

$0

$100

$0

Banking

Cell
OPEN AN ACCOUNT
OPEN AN ACCOUNT
OPEN AN ACCOUNT

How Do I Open An Account?

Download the Moomoo app from the App Store or Google Play Store. The app is available in either English or Chinese. 

Once downloaded, provide your name, email address, phone number, physical address, tax ID number, and documents showing your proof of address. 

According to Moomoo’s website, it takes the company 1-3 days to verify your identity and give you access to the platform. In reality, it took less than an hour until I was able to fund my account.

Moomoo Bonus Offers

Moomoo currently offers a bonus of up to 15 stocks valued up to $2,000 when you open an account and complete qualifying activities. 

You get the following for each action:

  • Open an account: 1 stock total
  • Deposit $100: 10 stocks total
  • Deposit $1,000: 15 stocks total

To keep the bonus, you're required to keep the funds in your account for at least 60 days.

Open a Moomoo account here >>

Is It Safe And Secure?

Moomoo is a brokerage company with proper registrations with all the major regulatory entities in the United States. It protects user information by using bank-level encryption and requiring multi-factor authentication for login. 

Giving out personal information online always presents some level of risk, but Moomoo takes the necessary precautions to keep user information safe.

However, Moomoo can’t protect you from you. Moomoo’s app allows novice traders to use debt which can lead to total portfolio losses. It's easy to get in over your head when debt is involved. Be careful if you decide to use Moomoo and trade on margin, think through using debt instead of wandering into it because it's there.

Is It Worth It?

Moomoo offers unique access to the Hong Kong and Chinese stock exchanges for US-based investors. This access may be exciting for U.S.-based traders who can’t always trade directly in international stock exchanges. 

The fact that Moomoo combines access with low fees, makes the opportunity seem compelling. But before you jump into Moomoo, you need to consider whether trading, especially in international markets, is right for you. 

Financial professionals spend their working days studying all major markets including international markets. You’re unlikely to have a trading advantage in international markets. You may even be at a disadvantage because you may not fully understand the regulatory and governance structures that are in place abroad.

If you choose to use Moomoo, take calculated risks. Don’t place huge bets on margin that could lead to a total loss in your portfolio.

Moomoo Features

Account Types

  • U.S. Stocks and ETFs
  • Low-cost trading in A-Share and HK Markets

Minimum Investment

No

Management Fees

A-Shares Market:  $2 per trade

HK Stock Exchange:  0.03% + HK$15 per trade

US Stock and ETF Trades: $0 + $0.65 per options contract

Stock Trades

$0

ETF Trades

$0

Mutual Fund Trades

N/A

Trading Activity Fee(TAF)

$0.00013/Share, min $0.01 - max $6.49 (sells only)

ADR Custodian Fee

$0.01 - $0.05/share

Access to Human Advisor

No

Customer Service Number

650-798-5700

Customer Service Email Address

cs@us.Moomoo.com 

Mobile Availability

iOS and Android

Promotions

Get up to 15 free stocks, valued up to $2,000 each

Moomoo Review: An App For Low-Cost Trades In Emerging Markets
  • Commission and Fees
  • Ease of Use
  • Customer Service
  • Products and Services
Overall
3.8

Summary

Moomoo is a free online trading app that allows low-cost trading, with access to markets in the United States and Asia.

Pros

  • Offers direct access to US, Hong Kong, and A-Shares Stock Exchanges
  • Commission-free trading on U.S.-based stocks and ETFs
  • Competitive margin rates for traders looking to use debt to enhance returns

Cons

  • Novice traders may take on too much debt
  • Options trading is less expensive on other platforms
  • Open An Account
Hannah Rounds
Hannah Rounds

Hannah is a wife, mom, and described personal finance geek. She excels with spreadsheets (and puns)! She regularly explores in-depth financial topics and enjoys looking at the latest tools and trends with money.

Moomoo Review: Investing And Stock Trading App

Editor: Claire Tak Reviewed by: Robert Farrington

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
Subscribe
Connect with
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of

I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree

0 Comments
Inline Feedbacks
View all comments

Primary Sidebar

Investing Resources

Featured Broker Reviews

>  Vanguard (recommended)
>  Fidelity
>  Robinhood
>  TD Ameritrade
>  M1 Finance
>  Schwab

Featured Robo-Advisors

>  Wealthfront (recommended)
>  Betterment
>  WealthSimple
>  Vanguard Digital Advisor

Annual Contribution Limits

  • 401k Contribution And Income Limits
  • IRA Contribution and Income Limits
  • HSA Contribution and Income Limits
  • 529 Plan Contribution Limits

More On Investing

  • Best Online Stock Brokers In 2023
  • Best Brokerage and Investing Bonus Offers In January 2023
  • Best HSA (Health Savings Account) Providers Of 2023
  • 5 Best Investing Apps Of 2023
  • How To Buy Stocks Online For Free
  • The Best Robo-Advisors Of 2023
  • The Best Self-Directed IRA Providers Of 2023
  • The Best Traditional And Roth IRA Accounts Of 2023
  • Comparing The Most Popular Solo 401k Options
  • Top 3 Automatic Investment Apps Of 2023

Footer

Who We Are

The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons.

Connect

  • Contact Us
  • Advertise
  • Press & Media

About

  • About
  • Our Team
  • Podcast
  • Editorial Guidelines
  • How We Make Money
  • Archives

Social

Copyright © 2023 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information

wpDiscuz