moomoo by FUTU review

Trade multi-markets and multi-products with a lower commission on one of the most affordable online brokerages.

moomoo is an online trading app and subsidiary of NASDAQ-listed Futu Holdings (NASDAQ: FUTU), a tech-driven online brokerage and wealth management platform backed by Tencent.

Through moomoo, both new and experienced traders can benefit from low-commission trades and competitive platform fees as well as easy access to financial products across global markets, including Singapore, Hong Kong, and the United States.

In addition, moomoo also offers lifetime commission-free trading on US stocks for Singapore citizens or residents on US stock trading.

Learn more about moomoo by FUTU and find out it meets your trading needs.

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Quick verdict

Good for
  • Access Singapore, Hong Kong, US stocks and ETFs with one account
  • Lifetime commission-free trading on US stocks
  • No custodian fees
  • Free level 2 market data
Not so great for
  • Limited market access
  • CFD trading is not available

Rewards and promotions

Here are the ongoing promotions and welcome rewards offered by moomoo:

Welcome bundle

Open your FUTU SG securities account to benefit from:

  • Lifetime commission-free for US stocks*
  • 1-year free platform fee for US stock market
  • Free Level 2 real-time market data for the US stock market
  • Free Level 1 real-time market data for SG stock market and China A Shares market
  • S$10 Stock Cash Coupon
  • S$30 Fund Cash Coupon
  • 1 chance to spin the wheel and get 1 free share worth between S$20 to S$1,000 (For customers who maintain a balance of S$2,700 for at least 30 days)

Note: Lifetime commission-free for US stocks is only applicable to Singapore citizens or residents on US stock trading only. Information provided is accurate as of 12 April 2022.

Referral programme

  • Receive 1 NIO (NIO) share for every friend referred successfully from 9 March 2022 (6 pm SGT) to 31 July 2022 (9.59 am SGT). Friend must have made a first deposit of at least S$1 to be considered a successful referral. No redemption limit.
  • 90 days unlimited commission-free trading card for HK & SG stock market for every friend referred successfully from 13 April 2022 (10 am SGT) to 31 July 2022 (9.59 am SGT).

moomoo by FUTU is regulated by the MAS

Futu Singapore Pte. Ltd. (Futu SG) is a wholly-owned subsidiary of Futu Holdings Limited, which operates the moomoo App under moomoo Inc. Futu SG is a broker-dealer and custodian licensed and regulated by the Monetary Authority of Singapore (License No. CMS101000).

What are the benefits of moomoo?

Here are some key benefits that help moomoo maintains its competitive edge:

  • Wide range of investment assets. Trade stocks, futures, options, ADRs, ETFs, and REITs.
  • Lifetime commission-free for US stocks. Benefit from zero commission trades on US stocks. Only applicable to Singapore citizens or residents on US stock trading only
  • Trade on Singapore and international markets. Access various exchanges across global markets, including SG, HK, US, CN, AU
  • Flexible global asset allocation. Manage your assets, portfolio and investments across multi-markets with this one-stop trading platform.
  • Low commission fees. moomoo does not charge any custodian fees and trade executions only incur a low commission.
  • Multi-platform access. moomoo is 100% online, offering intuitive trading platforms on both desktop and mobile. Available in both English and Chinese.
  • Customisable. Good customisability for charts and workspace. Your customised set-ups can also be synced across different devices.

      moomoo features

      • Advance trading features. Bring your trading experience to the next level with in-depth options analytics, 22 drawing tools and profit/loss analysis
      • Complimentary level 2 market data. Gain a deeper understanding of trends and execute trades more accurately with real-time bids and asks
      • 24/7 financial newsfeed. Stay on top of market trends, global financial news and detailed analysis of stock price fluctuations to make informed trading decisions.

      What are the types of accounts offered by moomoo?

      moomoo only offers one account type – margin trading account to all individuals.

      However, only those above 21 years old and below 65 years of age are eligible for margin facilities.

      What are the fees?

      moomoo waives all custodian fees, but trades are subject to various commissions and platform fees.

      Take a look at the fee structures for the different products below:

      Stocks and ETFs

      CommissionPlatform fee
      US stocks and ETFsZero commission (minimum US$0.99 per order)US$0.005 per share (minimum US$1 per order)
      Hong Kong stocks and ETFs0.03% of trade value (minimum HK$3 per order)HK$15 per order
      Singapore stocks, ETFs, REITs0.03% of trade value (minimum $0.99 per order)0.03% of trade value (minimum $1.50 per order)
      China A-shares0.03% of trade value (minimum ¥3 per order)¥15 per order

      Note: The individual stock markets may impose other charges such as trading fees, settlement fees and more. The fees indicated in the table are accurate as of 12 April 2022.

      Options, warrants and CBBCs

      CommissionPlatform fee
      US stock optionsUS$0.65 per contract (minimum US$1.99 per order)US$0.30 per contract
      Hong Kong warrants and CBBCs0.03% of trade value (minimum HK$3 per order)HK$15 per order

      Note: The individual stock markets may impose other charges such as trading fees, settlement fees, transaction levy and more. The fees indicated in the table are accurate as of 12 April 2022.

      Futures

      CommissionPlatform fee
      Index futuresUS$0.99 to US$1.99US$1
      Treasury futuresUS$0.99 to US$1.99US$1
      Metal futuresUS$0.99 to US$1.99US$1
      Energy futuresUS$0.99 to US$1.99US$1
      Forex futuresUS$0.99 to US$1.99US$1
      Agriculture futuresUS$0.99 to US$1.99US$1
      Digital asset futuresUS$1.99 to US$40US$1

      Note: To view the full fee table, please visit the Futu SG website. The fees indicated in the table are accurate as of 12 April 2022.

      Margin interest

      TypeRates
      SGD4.8% p.a
      USD4.8% p.a
      HKD6.8% p.a
      CHN6.8% p.a

      Note: To view the full fee table, please visit the Futu SG website. The fees indicated in the table are accurate as of 12 April 2022.

      Is it secure to trade with moomoo?

      In addition to its solid regulatory backing, moomoo also has multiple security tools in place to protect its clients’ funds:

      • Device lock. Add an extra layer of security with ‘Device lock’. With ‘Device lock’, you’ll need to verify your login password and SMS verification code when you log in to a new device for the first time. After verifying your new device, you’ll need to complete a “puzzle” security verification and input an OTP sent to your registered mobile number whenever you log in via SMS.
      • moomoo token. The moomoo token is a mobile authenticator designed to ensure the transaction security of your account. Once this is turned on, you’ll need to verify the transaction with both the dynamic password and transaction password for every transaction.
      • Portfolio privacy. Portfolio privacy is a security feature that requires face/gesture verification whenever you enter your account page (such as Trade or Money Plus).
      • SPIC protection. U.S. securities in your account are protected up to $500,000 by Securities Investor Protection Corporation (SIPC).

      How do I sign up for a moomoo account?

      Opening a moomoo account is quick and simple. If you have a SingPass account, you may select “Open an account with MyInfo” to prefill the required information and documents. Otherwise, you’ll have to do these manually.

      Here’s a step-by-step guide on how to open a moomoo account:

      1. Install the moomoo app
      2. Tap on ‘open account’
      3. Select if you are a Singapore citizen or permanent resident
      4. Verify your email
      5. Complete the online application form
      6. Submit your application (typically processed within 1 to 3 business days)

      Eligibility

      • At least 18 years old. Individuals below 21 and over 65 years of age are not eligible for margin facilities.
      • Have a valid Singapore bank account in your own name.

      Required information

      • Identity document (e.g. NRIC/passport photo page)
      • Proof of residential address (not more than 3 months old)
        • Latest telco/internet bill
        • Latest bank statement, insurance statement or broker statement
        • Latest CPF – My Notifications page
        • Latest correspondence from any Singapore government agency
      • Financial status
      • Tax residency and tax identification number (if any)

      How do you fund your moomoo account?

      You may top up your account balance through the following ways:

      • Bank transfer
      • DDA Fast Deposit (for DBS/POSB accounts only)
      • Transferwise (for users based in other countries and does not have a Singapore bank account)

      How do I contact support?

      If you have any enquiries, you may contact moomoo customer support team directly through:

      • Customer service hotline: +65-6321 8888 (available 24 hours on trading days, and from 9.30 am to 9.30 pm SGT on non-trading days)
      • Singapore office: +65-6439 1100 (from 9 am to 6 pm SGT, Mondays to Fridays)
      • Client service email: clientservice@futusg.com
      • Support email: support@moomoo.com

      Frequently asked questions

      Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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