Moomoo Trading Reviews – We’ve Got You Covered In 2022

Moomoo is a mobile trading program that does not charge commissions and is available for Apple, Google, and Windows smartphones.

It is a subsidiary of Futu Holdings Ltd. and is funded by Matrix, Sequoia, and Tencent venture capital firms (NASDAQ: FUTU).

Futu Inc. offers securities that gets regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (FINRA).

Moomoo is yet another excellent Robinhood substitute. If you want to get into smart trading, this is an excellent trading platform.

It provides outstanding trading tools and chances for novice and experienced traders, such as sophisticated charting, pre-and post-market trading, international trading, research and analysis tools, and, most notably, free Level 2 quotations.

Begin by downloading Moomoo on your phone, tablet, or other mobile devices.

Summary

Trading Platform Moomoo Trading Reviews
Established 2018
Regulated SEC, FINRA
Trading Platforms PC and mobile
Assets Stocks, ETFs, ADRs, options, futures
WebsiteClick here

Pricing

NamePrice
Stocks$0.0000207
Options$0.0000207
Outgoing wires$25 domestic/$45 international
Incoming wires8$ domestic/$25 international
Outgoing stock transfers$75
Mail paper statement3$/statemen
Assisted phone trades$10

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Market Data Information Provided

Market Data Information Provided
Market Data Information Provided

Moomoo provides free Level 2 market data for US equities to traders. Level 2 market data provides real-time bids and offers for any stock in the United States.

You may use this information to calculate entry and exit locations that ensure the liquidity required to finish the deal.

The most important benefits of having improved data is real-time quotations.

These are the current market prices for securities at that time. Real-time quotations inform active traders of the price they will pay when their order is completed. Some systems only provide delayed quotations.

In contrast to real-time quotations, delayed quotes frequently lag behind the real trading market by 15 to 20 minutes.

If you base your deal on a delayed quotation, you might end up paying substantially more for the shares you’re adding to your portfolio.

For real-time market quotations, several competitive trading systems demand a fee. This feature is free to use with Moomoo.

In addition to real-time information prices, ticker data and Nasdaq best bid and ask data are available.

With all of this information, active traders will have a big advantage while trading on Moomoo.


Who Is Moomoo For?

Who Is Moomoo For?
Who Is Moomoo For?

Moomoo was created for smart trading, but investors may also profit from minimal costs. This mobile trading platform consolidated its advanced features into a single app.

It is free and simple to use for both beginner and expert traders. A plethora of research tools can assist you in making sound financial selections.

If you want to imitate the investment experience before going all in, there’s also a paper trading function with real-time data.

Moomoo lets you invest whenever it is convenient for you. With your personalized set-ups synchronized across several devices, you can initiate trades whether you’re on the move or at home.

Furthermore, there is no minimum deposit required to start an account.

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Moomoo Trading features

Following are the features of Trading

  • It comes with a technical analysis mode
  • You can learn so much about trading through Moomoo Trading
  • You can trade options at Moomoo Trading

Research Offering At Moomoo

Research Offering At Moomoo
Research Offering At Moomoo

Tools and analysis customizable screeners for stocks, ETFs, options, and even overseas securities may be generated, stored, and synced to go using Moomoo’s Strategy tap.

You may sort stocks based on various circumstances, such as market considerations, fundamentals, and technical characteristics.

Moomoo’s market monitoring notifications are fully customized and comprehensive.

Users may customize their price alerts, bid/ask alerts, and event alerts, with in-app and phone notifications, pushed to ensure they don’t miss out on crucial possibilities.

All configurations may be linked, allowing you to maintain a close check on the market at all times and from any location.

Furthermore, its AI Monitor keeps the market under-watched by offering an easy way to locate stocks that are moving amid hundreds of data points fighting for attention, as well as detecting market emotion by graphing long/short distribution and price volatility.

Customizable news and insights Using Moomoo, investors can stay up to date on Wall Street at any time.

Moomoo, in addition to its exclusive market insights, provides news feeds from well-known financial media outlets such as CNBC and Dow Jones Newswires.

Feeds can also be tailored based on placements and the calendar.


Community

Moomoo community
Moomoo community

There is an online community within the Moomoo app where you may engage with other investors.

The group is incredibly active, with over 100K+ people, and it’s a terrific place to learn about new investment options.

Investors may write, share, make polls, and do anything else you’d expect from an online community.

While you shouldn’t take anyone’s investing advice too seriously until you’ve done your own research, it may be an excellent method to keep an eye on your finances.


Safety And Security

Security
Security

Futu Inc., the company that owns Moomoo, is an SEC-registered broker-dealer. This implies it is subject to regulation and must meet high industry standards.

Moomoo is also a member of FINRA and the Securities Investor Protection Corporation, and the SIPC covers its securities accounts for up to $500,000 (including $250,000 for cash claims).

Moomoo’s has no reviews on well-known consumer review systems such as the Better Business Bureau or Trustpilot.

But don’t worry, Futu’s parent firm is a registered broker-dealer with the Securities and Exchange Commission in the United States.

It is also a Financial Industry Regulatory Authority member and the Securities Investor Protection Corporation.

These registrations guarantee Moomoo’s financial security up to the indicated sums.

If you want to learn more about how your information is used, see the specifics of Moomoo’s information privacy policies.


What differentiates Moomoo Trading from others?

Here are the reasons why Moomoo Trading is different from others

  • A great trading platform for people who wants to do trade ETFs, stocks, and options
  • It is a 100% commission-free trading platform
  • It has sophisticated trading tools for advance level traders

Our experience with Moomoo

If you are a beginner, never go for Moomoo Trading. The interface is not quite welcoming or easy to understand.

It worked for me, and I used quite useful tools that helped me in Trading.

So, my overall experience with Moomoo Trading was good, but it is more of a trading platform for experts.


Moomoo Trading Comparison:

Moomoo Trading comparison
Moomoo Trading comparison

Let’s compare Moomoo Trading with other similar services.

Moomoo Trading vs. Tiger Brokers

Tiger Broker is a securities and stock-based broker that is based in China. It offers equities from various other global markets.

Plus, it is quite an impressive proprietary trading platform.

At the same time, Moomoo Trading is an app-based stock platform that only specializes in Hong Kong, Chinese, and US shares. 

Moomoo Trading vs Alpaca trading

Alpaca trading is a US-based broker that provides you with commission-free trading services. Moomoo trading is also a US-based zero commission trading platform.

But alpaca trading has been recommended to those who are interested in algorithmic stock trading.

Moomoo Trading vs. Webull

Moomoo Trading would charge you 6.8% interest on long margins for US stocks, whereas webull would offer variable margins depending on the rates and amount of leverage you will utilize.

So, the interest rate at Moomoo Trading, especially for China shares, is a bit higher. But webull will charge accordingly. 

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Customer Service

Customer service
Customer service

Do you have a question about Moomoo or need assistance navigating the platform? Send a query using the mobile app.

Please include your email address, Moomoo ID, a title, and an explanation of your inquiry, as well as any relevant attachments.

You must also select the most appropriate category from this selection – general, account, funding, trading, options, or promotions.

The help center may also be used to obtain solutions to frequent questions that fall into the following categories:

  • Account: find out more about account profiles and also establish or terminate an account.
  • Funding information covers deposits, withdrawals, and the fast deposit option.
  • Trade: general trade, options, margin trade, pattern day trading, and derivative-related topics are covered.
  • Make advantage of Moomoo to discover more about market quotations and analyses.
  • Referral and free stocks: Contain solutions to Stock Card-related inquiries.
  • Fees and taxes: provide more detailed information on the fee schedule and taxation.

Conclusion

Moomoo is a dependable platform for growing your investments, whether you’re a rookie or seasoned investor.

Its shortened application procedure enables you to begin trading within one business day and also to enjoy commission-free trading.

You may also utilize its tools and resources for free to simulate transactions or watch the market activity in real-time.

If you need to make changes to your portfolio, you may do so at any time.

Create a free account with Moomoo today to take advantage of everything the mobile trading app has to offer.

You can invest in companies you care about while at work, at home, or on the road.


FAQ

Are there penny stocks on Moomo available to trade?

Moomoo allows you to purchase stuff such as penny stocks, and also it has penny stocks on its profile.

Can you trade day on Moomo, and if you can, what is the minimum amount?

If your account balance is at least $25,000, you can day trade.

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