Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga.
What we think of Moomoo
Moomoo has a lot going for it: It’s competitively priced, offers paper trading and boasts a well-reviewed mobile app. But it also stands out for direct access to the Hong Kong Stock Exchange — something that precious few brokers offer. What Moomoo does, it does well. All its US securities, including stocks, options and ETFs, are available commission-free for US residents. Even its regulatory fees for its Hong Kong and China A-share accounts are more competitive than competitors Charles Schwab and Fidelity. But here’s the thing: Moomoo doesn’t have a whole lot on tap. At least not as far as its securities and account lineup are concerned. It doesn’t offer access to mutual funds, bonds, cryptocurrency or forex. And it only offers self-directed margin accounts — so if you have your heart set on a retirement account, you’re out of luck. As of July, 2022, Moomoo is registered with the US Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
Account fees are on par with competitors.
Moomoo’s security lineup is limited to stocks, options and ETFs.
Moomoo’s support is available by email during US trading hours, but has a 24-hour live support chat.
Its mobile app receives high marks from both Android and Apple users.
Research and tools
Free Level 2 market data and charting tools help Moomoo serve active traders.
No major outages have been reported.
We awarded a bonus star for low-fee access to Hong Kong, Shanghai and Shenzhen stock markets.
Trading fees for stocks on Moomoo are as competitive as they come. While it doesn’t offer mutual funds, bonds, crypto or forex, stocks on the New York Stock Exchange (NYSE) and Nasdaq are commission-free. Its platform and research are available without a fee, and you don’t need to worry about account minimums. It also offers access to Hong Kong and China A-shares with reasonably priced regulatory fees that shake out to about $2 to $3 per order. To access these shares, you must apply for separate Hong Kong and China A-share accounts, and there’s no minimum deposit requirement for either account. If you already hold a US Moomoo account, the approval process typically only takes a few minutes. Once you hold a Hong Kong or China A-shares account, you can purchase stocks from the Hong Kong, Shanghai and Shenzhen exchanges using US dollars by converting funds directly through your Moomoo account, up to a maximum of $2,500 daily. Moomoo’s Hong Kong and China A-shares accounts only offer access to A-shares. B-shares, ETFs, bonds and other securities aren’t available through either account.
Hong Kong stocks
0.03% of the investment amount or 3 HKD — whichever is higher — plus 15 HKD an order
0.03% of the investment amount or 3 CNH — whichever is higher — plus 15 CNH an order
Outgoing stock transfer fee
Assisted phone trades
*The fees stated above are for US residents. Fees may be different in other countries where Moomoo is available.
How do fees compare to competitors?
Fees on the Moomoo app are some of the most competitive we’ve seen — especially for international stocks. When purchasing Hong Kong or China A-shares, investors pay 0.03% of the investment amount, plus about $2 to $3 per order. Most of its competitors charge more. Access to international stocks isn’t offered by many brokers. In fact, there are only a few we’ve encountered that connect investors with Hong Kong or Chinese markets: Charles Schwab, Fidelity and Interactive Brokers. Both Fidelity and Charles Schwab charge the same amount for Hong Kong stocks: 250 HKD per order. This shakes out to about $32 — give or take a dollar depending on the exchange rate. Interactive Brokers’ fees are more competitive. It charges 0.015% to 0.08% plus 4 to 18 HKD per order — or 3 to 15 CNH, if you’re purchasing China A-shares. These fees ring in at about $0.50 to $2.30 per order. But here’s the catch: You need a net worth of at least $20,000 to be eligible for an Interactive Brokers account. Plus, your net worth can’t be less than your liquid net worth. Traders with student loans or other large debts, like mortgages, will have trouble qualifying for an account without hefty savings. Moomoo imposes no such net worth requirements.
Who is Moomoo best for?
Moomoo’s targeted offerings make it a viable platform for a very specific type of investor: traders seeking stocks, ETFs or options through a self-directed margin account. It doesn’t offer:
bonds, mutual funds, forex or cryptocurrency trading.
cash or retirement accounts.
robo-advisor or managed portfolios.
What it does do — namely, commission-free stocks, ETFs and options trades — it does well. Its fees are competitively priced, research tools are robust and trades are executed quickly. Investors receive free Level 2 Nasdaq market data alongside instant deposits of up to $1,000, paper trading, charting tools and more. The platform is available as a desktop or mobile application, and investors also gain access to the Hong Kong, Shanghai and Shenzhen stock markets. But its security lineup is limited, and traders report a learning curve for first-time app users.
How easy is it to use?
You can sign up for Moomoo online in about five minutes. Reviews of its mobile platform are favorable, but traders warn that the platform is so feature-rich, it can be overwhelming for those just starting out. Packed interface aside, reviews suggest the app becomes easier to navigate over time and that orders are executed quickly and reliably.
What research does it provide?
Moomoo is equipped to cater to a wide range of investors with comprehensive research tools and market data:
Stock screener. Filter stocks by more than 100 search criteria.
Nasdaq Level 2 market data. Determine ideal entry and exit points with real-time bids and market data.
Charting tools. Perform analysis with a variety of drawing tools and more than 63 technical indicators.
Research ratings. Tap into third-party analyst ratings to help you assess and compare securities.
Capital flows. Track company capital to identify performance trends.
Financial reports. View graphical financial reports to assess company finances.
Conditional alerts. Generate automated alerts that notify you about price fluctuations and indicator changes.
Is Moomoo legit?
Yes, Moomoo is a legit trading platform. Moomoo is headquartered in Palo Alto, California, and is a registered broker-dealer with the US Securities and Exchange Commission. It’s also a member of the Financial Industry Regulatory Authority and Securities Investor Protection Corporation. In the event that the brokerage goes under, funds are insured by the SIPC for up to $500,000, including up to $250,000 in cash balances.
How does Moomoo make money?
Moomoo, or rather its parent company Futu Holdings, profits primarily from commissions and interest income. If you look at Futu’s latest earnings report, 54% of its third-quarter 2021 revenue came from commissions, while 36% came from interest income. The other 10% is listed under “Other income,” which is income that doesn’t come from the company’s main business and can include income such as rent or gains from the sale of assets. Moomoo provides a breakdown of its fee schedule, which shows the types of fees and commissions it charges to both US and non-US residents.
Moomoo reviews and complaints
Moomoo feedback is scarce. Neither Moomoo nor its parent company have a BBB page, and the app has only 6 reviews on Trustpilot. Most of the feedback we found is from investors who reviewed Moomoo’s mobile app through Google Play and the Apple App Store. As of March 2022, the app scores well from both Android and Apple users, earning 4.1 out of 5 stars over 8,7313 reviews on Google Play and 4.7 out of 5 stars across 7,568 reviews in the Apple App Store. Investors report that the app is responsive, research data is plentiful and trades are executed quickly.
4.2 based on 6 reviews
Google Play app
4.1/5 stars based on 8,731 reviews
Apple app store
4.7/5 stars based on 7,568 reviews
Customer reviews verified as of
How do I sign up?
Sign up for an account online in about five minutes:
Visit Moomoo’s homepage and select Log In and then Sign Up.
Enter your email address and create a password.
Select Open Account.
Enter your full name and phone number, Social Security number and residential address. Select Next.
Answer Moomoo’s questions about annual income, net worth, investment goals and more. Select Next.
Review Moomoo’s Risk Disclosure statement and enter your online signature. Select Submit.
How do I contact Moomoo support?
You can contact Moomoo support by emailing its support team at firstname.lastname@example.org, calling its customer service hotline at +1-888-721-0610 or using its 24-hour live chat available on US trading days.
Compare other stock trading platforms
Before you sign up, explore your options across multiple trading platforms to find a broker or platform that best meets your investment strategy and budget.
1 - 7 of 7
Frequently asked questions
Can I open a Moomoo account if I live outside the US? Yes, but only if you are a resident of mainland China. What are China A-shares? China A-shares are shares from companies based in mainland China. These shares can be accessed from the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE). They’re also known as domestic shares because they’re valued in Chinese renminbi (RMB) rather than foreign currencies like US dollars.
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★4/5 — Good
★★★★★3/5 — Average
★★★★★2/5 — Subpar
★★★★★1/5 — Poor
We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability. For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
Information on this page is for educational purposes only. Finder is not an advisor or brokerage service, and we don't recommend investors to trade specific stocks or other investments.
Finder is not a client of any featured partner. We may be paid a fee for referring prospective clients to a partner, though it is not a recommendation to invest in any one partner.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.