Our Moomoo review explores their trading platform and its pros and cons. Brokers like ThinkorSwim and Robinhood have been a disappointment at times. As a result, people are looking for alternative brokers. So, is Moomoo one you should consider?
Moomoo is a new smartphone investing app taking the U.S. and Asia by storm. Its main selling feature is zero-commission trades. However, Moomoo’s platform has some interesting additions changing our thinking about investing. As a result, we had to do a Moomoo review.
Moomoo is available for Android, Apple, and Windows users and offers an extremely simple sign-up process that only takes a few minutes to complete. They’re only available in the U.S., Hong Kong, China, Singapore, and Japan. However, expansion into other markets may be on the horizon.
FUTU Stock Rover Report
Who Owns Moomoo?
Moomoo is officially owned and operated by a company that some investors have probably heard of, Futu (NASDAQ: $FUTU). Futu is a Hong Kong-based company that operates digitized brokerages and wealth management platforms in Asia. As well as the U.S. and is one of the leading fintech companies in the world.
Futu created Moomoo specifically for U.S. customers. Although investors in Asian markets also have access to the platform. The main investors in the Moomoo platform are Sequoia, Matrix, and, of course, the largest backer of Futu itself, Tencent (OTC: $TCEHY). So, maybe from this Moomoo review, you can invest in foreign stocks.
What’s In It for Me?
Aside from a fun and free way of investing, Moomoo offers a pretty incredible signup bonus for new users. When you first sign up for an account, you’ll get bombarded with this offer:
Sounds pretty good. We found in this Moomoo review that the more details emerge, the further you go into the signup process.
Finally, in the end, the full details come out. New users must deposit over $100 to get one free stock or over $5,000 for the three stocks advertised above.
Still, it’s not a bad deal, considering it’s an investing platform, and you will have to deposit money to make trades anyway.
COURSE |  |  |  |
|---|---|---|---|
| DESCRIPTION | Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action | Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading | How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading |
| INCLUDED | Daily watch lists • Trade rooms • Trading scanners • Discord • Live streaming Day Trading > | Daily watch lists • Trade rooms • Options scanners • Discord • Live streaming Options > | Futures target levels • Trade rooms • Real time teaching • Discord • Live streaming Futures > |
Features
All the great things on mobile trading platforms exist with Moomoo, including zero-fee trading, options trading, and full access to over 5,000 ETFs. But what makes this Moomoo review stand out from other platforms like WeBull or Robinhood? Here are a few that caught our eye:
Free Level 2 Market Data: Sure, this is available on some platforms, but most of the time, you’ll also have to pay for this with a stock screener or market analysis tool. With Moomoo, as long as you have an account, you’ll have access to Level 2 Market Data. This includes bid/ask prices for large orders data on institutional investors buying or selling the stock. And a general order flow for what the action is that’s affecting the price of a stock. If you learn how to use this data in your favor, it can give you a massive edge against investors who don’t have access to Level 2 Market Data.
Moo Streams: This is a live feed of everything trending on the markets. It includes user comments, Moo Picks, the stocks trending on the Moomoo chats, Moo Guides, and user-created tutorials for investing. Moomoo goes above and beyond to create a community feel. So rather than leaving the app to go somewhere like Reddit, FinTwit, or StockTwits, you can have a full-on discussion with other members right in the chat. There’s also a Reddit-like Hot Posts section. This is where user posts with the most likes and views are shown to the entire community.
Moomoo Fees and Pricing Review
As for fees, the U.S. is one of the only countries with zero fees per trade at nearly every competitive brokerage. For those not in the U.S., you know full well that this is a different story. Moomoo is consistent with this trend as it allows U.S. users to trade with zero fees when investing in U.S. markets. But it does have minor fees for U.S. users who want to trade in other markets.
The charges may seem minimal. But they can add up if you’re a high-volume trader. Additional charges apply to U.S. users trading in Asian markets, which Moomoo allows access.
Moomoo ($FUTU) Stock Rover Research Report 3/24
Pros
Let’s look at what trading courses are offered and what trading hours are included in this Moomoo review.
Moo Courses: Moomoo targets novice and casual investors because it offers a full course load on investing right inside the app. Moo Courses offers the following courses to Moomoo users:
- Must Know Before Investing
- U.S. Stock Basics
- Options Basics Tutorial
- IPO Talks
- ETF Home
- Understanding Markets
Beneath each category are several different lessons that users can take. Again, this is available elsewhere. But if everything you need is available within one app, there’s no need to head to other sites. Moomoo is trying to keep its users all within the same ecosystem. Something that platforms have done in the past is to begin adding things like targeted ads or Premium Subscriptions.
Pre-Market and Post-Market Trading: You can trade before and after the market closes. Kind of. Some platforms completely cut you off when the markets are closed. As a result, users are forced to create an order that may be filled the next morning when the market reopens. This isn’t ideal, as stock prices can fluctuate from the closing bell to the opening the next morning. Moomoo allows users to trade in after-hours trading and pre-market trading. It’s unnecessary, but it can help, especially when things like quarterly earnings calls or stock offerings happen outside normal trading hours.
Cons
Hey, no platform is perfect, and Moomoo has its shortcomings as well. Let’s look at a few features in this Moomoo review that we’d have liked to see in the future. These aren’t available as of yet.
Fractional share investing has gained popularity over the past couple of years. Especially when stocks like Amazon (NASDAQ: $AMZN) or Alphabet (NASDAQ: $GOOGL) continue to climb to thousands of dollars per share, we’re always told that stock price doesn’t matter. But let’s be honest, it does! Most retail investors aren’t able to afford 100 shares of Amazon. Or even one share, for that matter. With fractional investing, you can build your position over time. Maybe you want to put $200 towards a share of Amazon’s every paycheck, which is easier than saving up $3,200.
Cryptocurrencies: Some investors want nothing to do with cryptos and are happy they are unavailable at their brokerage. But platforms like Robinhood, SoFi, and Square Cash App (NYSE: $SQ) offer investors the chance to invest some of their fiat money into highly volatile cryptocurrencies. It could have to do with the fact that the Chinese government has clarified that it’s not a fan of cryptos. Whatever the reason, Moomoo could be much more popular if it offered investors the ability to invest in cryptocurrencies.
Moomoo ($FUTU) TipRanks Stock Forecast Report 3/24
Is Moomoo Legit?
Yes! There’s a lot of apprehension in the investing world about Chinese companies and how they may be regulated. But Moomoo has its headquarters based out of Palo Alto, California. It’s also regulated by the SEC and is also a member of FINRA and the SIPC, all regulatory bodies in the U.S. that Moomoo and its parent company, FUTU, must comply with.
The SIPC also insures Moomoo for up to $500,000 or $250,000 for cash claims. We get it; you want to be protected when putting your hard-earned money into an account, and some of us are just not comfortable loading it into a mobile app. Rest assured, we’ve used Moomoo, and the platform is completely safe for U.S. users.
Final Thoughts: Moomoo Review
We hope you enjoyed this Moomoo review. Moomoo is a fun and free mobile-based platform for novice or experienced investors. The user interface is easy to learn,, and the app provides a simple and clear process for investing. At the same time, Moomoo includes some incredible data and features that’ll make experienced investors feel right at home.
Please don’t get turned off by its cartoony and video game-like appearance. Moomoo is an incredibly agile investing platform that provides users with powerful tools that can help them improve their investing performance.
Frequently Asked Questions
Moomoo’s parent company, Futu Holdings Limited is a publicly-traded company on the Nasdaq exchange (NASDAQ: FUTU).
