Moomoo review 2023
- Stock trade fee
- $0
- Minimum deposit
- $0
Our verdict
Trade stocks, options and ETFs, with advanced charts and a cash sweep program. But you'll only find taxable accounts — no IRAs.
Consider Moomoo if you want commission-free stock, option and ETF trades, a cash sweep program and pro-grade tools. Look elsewhere if you want to trade crypto or want to open an IRA.
Best for: Traders and investors of all skill levels.
Pros
-
Commission-free US stocks, ETFs and options
-
Cash sweep program
-
Pro-grade tools, including analyst ratings, real-time Level 2 market data and advanced charting
-
Paper trading
Cons
-
No IRAs
-
Limited tradable assets, including no crypto
-
No robo-advisor
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
How we rate Moomoo’s features
| Fees | ★★★★★ 4.5/5 | Commission-free US-listed stock, ETF and options trades, no options contract fees and account fees that are on par with competitors. |
| Available securities | ★★★★★ 3/5 | Moomoo’s security lineup is limited to stocks, options and ETFs. |
| Customer support | ★★★★★ 5/5 | Contact Moomoo’s customer support by phone, live chat and email, with fast response times. |
| Mobile app | ★★★★★ 4.5/5 | Its mobile app receives high marks from both Android and Apple users. |
| Research and tools | ★★★★★ 5/5 | Free Level 2 market data and charting tools help Moomoo serve active traders. |
| Reliability | ★★★★★ 5/5 | No major outages have been reported. |
| Bonus star | ★ 1 | We awarded a bonus star for offering paper trading. |
To learn how our star ratings are calculated, read our methodology at the bottom of the page.
Moomoo is best for all traders and investors
With its low-cost trading, paper trading and in-app learning resources and advanced trading and research tools, Moomoo’s best for traders and investors of all experience levels who are seeking stocks, ETFs or options through a self-directed account.
Its fees are competitively priced, research tools are robust and trades are executed quickly. Access Level 2 market data for stocks and options, a cash sweep program, instant deposits of up to $1,000, advanced charting tools and more.
The platform is available as a desktop or mobile application.
What you can trade on Moomoo
- Stocks
- ETFs
- Options
Account types available with Moomoo
- Individual brokerage
- Margin
Where Moomoo shines
Moomoo’s trading tools and research are on par with some of the biggest brokers in the space. You’ll find:
- Advanced charts
- Analyst ratings and price targets
- Valuation metrics
- Financials, with a breakdown of revenue by business and market
- Shareholder information
- Real-time level 2 market data
Competitive trading costs with no options contract fees, paper trading to hone your trading skills and a cash sweep program that lets you earn interest on your idle cash are just some of the other features that helps Moomoo stand out.
Where Moomoo falls short
Moomoo’s tradable assets are limited to stocks, ETFs and options. Unlike many other stock trading apps, you won’t find crypto. Account types are also limited to individual brokerage accounts. Retirement-minded investors will need to look elsewhere.
Moomoo’s fees
| US stocks | $0 |
| ADRs | $0 |
| US options | $0 |
| US ETFs | $0 |
| ACH transfer | $0 |
| Outgoing stock transfer fee | $75 |
| Assisted phone trades | $10 |
*The fees stated above are for US residents. Fees may be different in other countries where Moomoo is available.
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.
Moomoo’s trading platform is easy to use
These are some of the tools you’ll be able to view and use through Moomoo:
- Set up to 6 multi-monitors
- Charts with more than 63 technical indicators, 38 drawing tools and over 190 pre-set functions
- Desktop and mobile trading platforms/li>
- Level 2 market data
- Paper trading
- Learning center
- Stock screeners
- Analyst ratings and price targets
Moomoo app reviews
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 4.3 | Over 16,350 |
| Apple Store | 4.6 | Over 19,050 |
Moomoo’s customer support
Quickly reach a Moomoo representative in a few ways:
- Email support
- Phone
- Live chat
How to open an account with Moomoo
Sign up for an account online in about five minutes:
- Select the “Sign up now” button below and then select Get free stocks to start your application.
- Enter your phone number or email.
- Select Open Account.
- Enter your full name, 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.
Eligibility and required information
- At least 18 years old
- Valid Social Security number
- US citizen or lawful permanent resident with a physical address
How safe is Moomoo?
Moomoo is considered safe and secure. The platform has a device lock feature, a transaction security feature called moomoo token and a portfolio privacy feature to improve your account’s security. Moomoo also uses biometric authentication.
Compare Moomoo to other platforms
Moomoo
★★★★★
Finder rating 4.7 / 5
Available asset types
Stocks, Options, ETFs
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
SoFi Invest®
★★★★★
Finder rating 4.6 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get up to $1,000 in stock when you fund a new account within 30 days.
tastytrade
★★★★★
Finder rating 4.8 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency, Futures
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get $100-$5,000 when you open and fund an account with $5,000 to $1,000,000+
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
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