Is Moomoo a legitimate brokerage firm?

In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., registered with and regulated by SEC and FINRA. Moomoo Financial Inc. is a member of SIPC, which means your funds are protected up to $500,000 (including $250,000 for claims for cash).

What investments does Moomoo offer?

On Moomoo, you can trade stocks, options, ETFs, American Depositary Receipts (ADRs), as well as Hong Kong and A-Shares Markets, and OTCs.

How much does Moomoo charge per trade?

There are no commissions per trade or account minimums. However, there are other fees that you will need to be aware of, including for wire transfers and phone trades.

Does Moomoo offer customer support?

Moomoo offers 24/7 live chat support. You can also speak to a licensed specialist during trading days from 8:30 a.m. to 4:30 p.m. ET.

Moomoo Review: Robust Trading Tools to Grab the Bull by the Horns

Moomoo might be for you if: You're an active investor who wants advanced trading features and stock analysis tools, with low fees. The online broker caters tor hands-on investors who pick stocks, research the markets, and trade frequently. Moomoo's zero-commission platform offers stocks, ETFs, options, and fractional shares, with low rates on margin loans.

Read our in-depth Moomoo review to see if this brokerage is the right choice for your investing goals.

Ratings Methodology

Moomoo

Open Account

Our Rating:

Rating image, 3.5 out of 5 stars.

3.5/5

Bottom Line

Moomoo offers an impressive suite of tools for active investing and day trading. Moomoo keeps its fees low, with no commissions and low rates on margin loans. If you want affordable, sophisticated tools for research, analysis, charting, and building customized investment portfolios, Moomoo could be worth a look.

Fees:

$0 for stocks, ETFs, and options

Account Minimum:

$0

Open Account for Moomoo

On Moomoo's Secure Website.

Alternatives to Consider

We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.

Account	Fees	Account Minimum
Rating image, 4.5 out of 5 stars. 4.5/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	$0 for stocks, $0 for options contracts	$0	Open Account for SoFi Active Investing
Rating image, 4.5 out of 5 stars. 4.5/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	$0 for stocks, ETFs, and options; up to $6.99 monthly for Robinhood Gold	$0	Open Account for Robinhood
Rating image, 4.5 out of 5 stars. 4.5/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Commission-free; other fees apply	$0	Open Account for E*TRADE

Full Moomoo review

Moomoo covers the basics and more. It's an affordable broker for advanced traders, so if you're in the market for stocks, ETFs, and options, it's worth checking out.

Here's what the interface looks like:

Our brokerage rating methodology

At The Motley Fool Ascent, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

See our full methodology here: Ratings Methodology

My investing experience

I'm not a day trader, and I prefer hands-off, passive investing in low-cost index funds. But if I was going to use a more "active" investment platform, I would want a broker that offers low fees and high-quality research and analysis tools. Moomoo has some intriguing features that let everyday investors take an active role in building their portfolios, with professional-grade trading tools -- and all with low fees.

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We tried it: Our team's experience

Here at The Motley Fool Ascent, we pride ourselves as real users of most of the products across our site. Writer Brittney Myers uses Moomoo -- here's her take on this broker:

Brittney's review

Moomoo is a very feature-rich trading app, but that is both a good and bad thing. For me, it makes Moomoo harder to use and it isn't very intuitive to navigate. I also don't love that you can only really manage your investments through the mobile app; the browser experience is very limited.

Investment offerings

Moomoo offers the basics. You can trade stocks, ETFs, and earn high yield on your extra cash. Though some competitors offer more investment types, Moomoo stands out for its $0 options contracts and low rates on margin loans.

Investments

ETFs
Fractional shares
Margin trading
Options
OTC stocks
Stocks

Brokerage accounts

Brokerage
Cash Sweep Program

TIP

Other financial services

Moomoo's Cash Sweep Program is a way to earn high yields on your uninvested cash. As of August 2024, this cash management program is offering 5.10% APY -- better than some of the best cash management accounts from other brokerages. Moomoo's partner banks offer FDIC insurance for up to $1 million of your "swept" cash.

Commissions and fees

Moomoo charges unusually low commissions. Unlike many brokers, Moomoo charges $0 for equity options contracts and trades in over-the-counter (OTC) markets. Moomoo charges some fees for trading stocks in international markets like Hong Kong, and also charges typical regulatory fees and miscellaneous account service fees.

Reason	Cost
ETF and stock trades	$0
Options trades (equities)	$0
Options trades (index)	$0.50 per contract
Outgoing stock transfer	$75

Data source: Moomoo; $0 commission trading is available only to U.S. residents trading in U.S. markets.

Margin rates

Moomoo offers margin loans, and its margin rates are lower than most other brokerages we've seen. As of August 2024, Moomoo margin rates are as low as 6.8% for U.S. stocks.

Margin loans enable you to borrow money against the value of the securities in your portfolio, which can provide a flexible line of credit. Traders need a minimum of $2,000 in an account to use margin. This is a regulatory requirement that applies to all brokerages, not just to Moomoo.

But margin investing -- where you use borrowed money to buy stocks or other investments -- can be especially risky, even more risky than investing with cash. Margin loans and margin investing are not suitable for all investors.

Research and education

Moomoo stands out from competitors by offering extensive research and educational content. Here are a few examples.

Level 2 data

Moomoo offers Level 2 data to help uncover better opportunities to buy and sell securities. With Level 2 data on Moomoo, you get access to up to 60 price levels from six order books, including CBOE Bats BZX, NASDAQ TotalView, and NYSE ArcaBook.

NASDAQ TotalView (three months free)

Moomoo partners with NASDAQ to offer Moomoo customers three months of free premium market data from NASDAQ TotalView. This can help you make smarter trades.

Moomoo Learn Premium

By enrolling in Moomoo's Learn Premium program, you can learn investing fundamentals and trading skills. Courses include the following:

Opportunity Mining -- Understanding a Stock in Three Minutes
Trading Tutorials -- Understanding Charting Patterns
Advanced Financial Analysis for U.S. Stock Investing

Free "paper trading"

Moomoo offers free "paper trading." You can make simulated trades in stocks and other securities -- without risking any real money. Paper trading can be a great way to learn more about buying stocks, test your investment ideas, and more.

Interface

Moomoo is designed for day trading and active investing. Because of the complexity and "advanced" nature of some of Moomoo's features, Moomoo's interface may overwhelm new investors.. You can still use Moomoo as a beginner, but anticipate a steep learning curve.

Here are a few of the advanced capabilities that Moomoo offers on its investing platform.

Charting tools

Moomoo helps you find trading opportunities with advanced charting features. Choose from more than 63 technical analysis indicators, set up to six multi-monitors to keep an eye on multiple stocks (with real-time data), or create your own customized technical indicators.

Stock analysis

Use Moomoo's powerful stock analysis tools to find bearish or bullish signals, and identify the right moment to buy or sell stocks, based on your investing strategy.

Moo Community

If you want to be part of a larger community of investors who share ideas and learn from each other, Moomoo can help. Its Moo Community hosts lively discussions of its latest trades.

Moomoo's investment platform interface is available on desktop and mobile.

App

Moomoo's investment app is available for iOS and Android. Moomoo platform features are all available on the mobile version; you should be able to use the Moomoo app to do everything that you can do on the Moomoo desktop platform.

Mobile app features include:

Investing in stocks, options, and ETFs -- in the U.S. and worldwide
Accessing extended trading hours (pre-market and post-market)
Getting professional research, data, and analysis
Following financial news and market trends
Gaining market insights for faster, better-informed trading
Participating in the Moomoo community of over 21 million investors

The Moomoo app gets high ratings: 4.7 stars on the App Store, and 4.5 stars on Google Play.

Customer service

Like many large online brokerages, Moomoo has had its share of customer complaints. The platform gets 2.6 stars on Trustpilot (although in fairness to Moomoo, some of the complaints appear to be AI-generated spam). Moomoo is not accredited by the Better Business Bureau, and it has a grade of "F," with four customer complaints closed in the past 12 months on BBB.org.

Some customer complaints about Moomoo on BBB.org include:

Someone accusing Moomoo of making it too hard to close an account
People claiming that they did not receive a referral bonus that they thought they deserved
A former customer disputing the location of unclaimed funds from their former Moomoo account

Moomoo appears to have made strong efforts to promptly reply to the BBB.org customer complaints, and it has offered detailed responses to resolve the problems.

Moomoo offers several ways to contact customer service:

By phone: 1-888-721-0610 (open during trading days from 8:30 a.m.-4:30 p.m. ET).
By email: [email protected]
24/7 online chat

Security

Moomoo's website doesn't provide as many details about its account security measures as competitors, but Moomoo does offer multi-factor authentication. With multi-factor authentication, you can protect your account from hackers, scammers, and fraudsters by requiring multiple forms of identity verification to access your account.

For example, Moomoo offers device lock, verification codes via SMS, and Moomoo Token to protect your account's transaction security.

About

Moomoo is an investment and trading platform with more than 21 million users. Founded in 2018, Moomoo's goal is to provide a mix of user-friendly features with advanced capabilities, so investors at all levels of experience can invest like professionals.

Learn more about Moomoo

Keep reading about Moomoo on these pages:

Best Broker Bonuses

Best Brokers for International Trading

Review sources

FAQs

In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., registered with and regulated by SEC and FINRA. Moomoo Financial Inc. is a member of SIPC, which means your funds are protected up to $500,000 (including $250,000 for claims for cash).
On Moomoo, you can trade stocks, options, ETFs, American Depositary Receipts (ADRs), as well as Hong Kong and A-Shares Markets, and OTCs.
There are no commissions per trade or account minimums. However, there are other fees that you will need to be aware of, including for wire transfers and phone trades.
Moomoo offers 24/7 live chat support. You can also speak to a licensed specialist during trading days from 8:30 a.m. to 4:30 p.m. ET.

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