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Moomoo might be for you if: You're an active investor who wants advanced trading features and stock analysis tools, with low fees. This online brokerage is a good fit for hands-on investors who want to pick stocks, research the markets, and trade frequently, with zero commissions. Moomoo's 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.
Moomoo offers an impressive suite of tools for professional-grade active investing and day trading. But this brokerage also keeps its fees low, with no commissions and low rates on margin loans. If you want sophisticated tools for research, analysis, charting, and building customized investment portfolios, Moomoo could be worth a look.
$0 for stocks, ETFs, and options
$0
On Moomoo's Secure Website.
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.
Author's note: 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.
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:
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.
Moomoo does not have the widest range of investments or account types compared to some other brokerages, but if you want to trade stocks, ETFs, and earn high yield on your extra cash, Moomoo can deliver what you need. Moomoo also stands out for its $0 options contracts and low rates on margin loans.
TIP
Moomoo's Cash Sweep Program is a way to earn high yields on your uninvested cash. As of July 22, 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.
Zero-commission stock trading has largely become the new industry standard for online brokerages, but Moomoo goes even further to keep its fees low. Unlike many brokers, Moomoo also charges $0 for equity options contracts, and $0 for 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.
Investment product | Cost |
---|---|
ETFs | $0 |
Options | $0 |
Stocks | $0 |
Moomoo offers margin loans, and its margin rates are lower than most other brokerages we've seen. As of July 22, 2024, Moomoo margin rates are 6.8%. Margin loans enable you to borrow money against the value of the securities in your portfolio, which can provide a flexible line of credit.
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.
Moomoo charges 6.8% for U.S. and Hong Kong stocks, and 8.8% for Chinese stocks. Compared to many brokerage firms we've reviewed, Moomoo's margin rates are on the low side. 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.
Many online brokerages are trying to make their platforms more informative and educational, and Moomoo stands out with its extensive offerings of research and educational content. Here are a few examples:
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.
Moomoo has a partnership with NASDAQ to offer Moomoo customers three months of free premium market data from NASDAQ TotalView. This can help you make better-informed trades.
If you enroll in Moomoo's Learn Premium program, you can learn the fundamentals of investing and gain trading skills. Courses include:
Moomoo offers free "paper trading," where 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.
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 could be a better choice for more experienced stock traders. You can still use Moomoo if you're new to investing and want a good platform to make your first trades, but be prepared for a bit of a learning curve.
Here are a few of the advanced capabilities that Moomoo offers on its investing platform:
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.
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.
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 has lively discussion of their latest trades.
Moomoo's investment platform interface is available on desktop and mobile.
Moomoo's investment app is available for iOS and Android. It appears that the Moomoo investment platform's capabilities and features are all available on the mobile version; you should be able to use the Moomoo app to do everything that you could do on the Moomoo desktop platform.
Mobile app capabilities include:
The Moomoo app gets high ratings: 4.7 stars on the App Store, and 4.5 stars on Google Play.
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 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:
Moomoo appears to have made strong efforts to promptly reply to the BBB.org customer complaints, and has offered detailed responses to resolve the problems. In Moomoo's defense, some of the customers complaining on BBB.org appear to have violated the platform's terms of service, or did not listen to guidance and instructions for how to get their money back.
Big online brokerages like Moomoo have millions of users, and the vast majority of users are not posting complaints on BBB.org. The high ratings of the Moomoo app might be a better indication of what life is really like for most Moomoo customers.
Moomoo offers several ways to contact customer service:
Moomoo's website doesn't provide as many details about its account security measures as some other brokerages, but Moomoo does offer multi-factor authentication. With multi-factor authentication, you can set up your account to help keep hackers, scammers, and fraudsters away from your money, 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.
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.
At The Motley Fool Ascent, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and account types; however, we also take into account features like research, education, tax-loss harvesting, and highly rated mobile apps. 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
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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
E*TRADE services are available just to U.S. residents.
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.