moomoo

For a US resident, moomoo's core trading is free in a way that survives inspection: USD 0 commission and USD 0 platform fee on US stocks and ETFs, and USD 0 commission with USD 0 contract fee on US equity and ETF options. The only per-trade money that leaves your account on a typical order is the regulatory pass-through — the SEC fee of USD 0.0000206 × trade value and FINRA's TAF of USD 0.000195 per share on sells, plus OCC (USD 0.025), ORF (USD 0.0122) and CAT (USD 0.0003) per contract on options. The ORF is a blended rate that the clearing broker may adjust; the rate actually charged appears on the trade confirmation.

The exceptions are worth knowing:

• Index options cost USD 0.50 per contract plus Cboe proprietary fees, the same headline as Webull.
• Non-US residents trade a different price list on the same market: USD 0.005 per share with a USD 1.00 minimum per order, plus a settlement fee. A 200-share order costs USD 1.00 rather than nothing.
• Orders classified as non-retail pay commission. moomoo's upstream partners can classify orders as non-retail, and the fee schedule names users whose trading typically involves a large number of orders per day. Those orders cost USD 0.0049 per share (minimum USD 0.99 per order) on stocks and ETFs and USD 0.65 per contract (minimum USD 1.99 per order) on stock and ETF options. There is no platform fee, regulatory fees stay the same, and moomoo notifies users before the tier applies.
• ADR positions attract a DTC custody fee of USD 0.01–0.05 per share per year, passed through.
• Margin costs 6.8% per annum on long US stock positions under moomoo's own fee schedule — cheaper than Webull's standard tier but above Public.com's 4.90% base. The same schedule lists 6.8% for Hong Kong stocks and 8.8% for China A-shares, shows one rate per market rather than debit-balance tiers, and says the rate can change without notice. moomoo's margin page advertises rates as low as 6.8%, so whether balance tiers exist is neither confirmed nor ruled out.

What is genuinely absent matters as much: no inactivity fee, no account maintenance fee, no minimum deposit, and free ACH transfers in and out. And the single largest hidden saving is data — Nasdaq TotalView Level 2 depth is included free, where competitors bundle it into a paid tier. For an active trader that is a genuine saving, though how large depends on what your alternative charges for the same feed. Non-trading fees are set out in moomoo's Fee Schedule for U.S. Residents: an outgoing wire costs USD 20 domestically and USD 25 internationally, a returned ACH deposit USD 5 per order for the first deposit and USD 10 per order for later ones, a returned ACH withdrawal USD 10 per order, and an outgoing account transfer USD 75. Incoming wires and ACH transfers in both directions are free, so ACH is the cheap way to move money.

US brokerage services come from Moomoo Financial Inc., an SEC-registered broker-dealer (CRD #283078, SEC #8-69739) and member of FINRA, SIPC and the NFA. SIPC covers USD 500,000 per customer including a USD 250,000 cash sub-limit. An unusual structural detail: clearing and settlement run through an affiliate, Futu Clearing Inc. (CRD #298769), which is itself a FINRA/SIPC member and a DTC, NSCC and OCC participant. Most app brokers outsource clearing to Apex; moomoo owns that layer, which is a meaningful operational advantage and also concentrates more of the chain inside one group.

Internationally the group runs Moomoo Financial Singapore Pte. Ltd. (MAS CMS101000 and Major Payment Institution PS20200617), Moomoo Securities Australia Ltd (AFSL 224663), Moomoo Financial Canada Inc. (CIRO member, with CIPF cover up to CAD 1,000,000 per account category) and Moomoo Securities Malaysia Sdn. Bhd. (eCMSL/A0397/2024). Parent Futu Holdings Limited is listed on Nasdaq as FUTU, so audited group financials are public.

The item that belongs in any honest safety assessment: in 2022 China's CSRC publicly identified Futu as conducting unlicensed cross-border brokerage for mainland Chinese investors. Futu stopped onboarding new mainland clients and its apps were removed from mainland app stores in 2023. The action concerned the mainland business rather than the US, Singapore or Australian entities, but it is a real regulatory event in the group's history and worth weighing. As always: regulation and compensation schemes describe what happens if the broker fails; they say nothing about investment risk.

moomoo Desktop is the product's centre of gravity and the main reason experienced traders migrate here. It ships free Nasdaq TotalView Level 2 depth — full order-book depth rather than top-of-book — alongside an institutional-holdings tracker that shows which funds have been building or cutting a position, sector heat maps, an earnings calendar, a deep screener, an options strategy builder with payoff visualisation, and well over a hundred technical indicators. The newer moomoo NX interface is a cleaner shell over the same engine with better spacing and less clutter; both are available.

The mobile app is close to parity, which is unusual — Level 2 depth, options analytics and the screener all survive the trip to a phone, and it holds roughly 4.6 stars on both the App Store and Google Play. The web client is lighter and best treated as a convenience layer rather than a primary workspace.

For automation, moomoo OpenAPI exposes Python and other SDKs, and in 2026 moomoo added an agentic trading layer and API skills on top. There is a TradingView integration for people who prefer to trade from TradingView charts, and moomoo partners with Nasdaq on data.

Paper trading is free and unlimited and uses the same tickets as the live account. The overall criticism is the same as Webull's: density. moomoo assumes you want a hundred data points on screen, and it does not hold your hand.

A US moomoo account covers US stocks and ETFs, fractional shares, IPO participation, US equity and index options, crypto, prediction markets and event contracts, and a cash sweep programme. The multi-market angle is the differentiator: moomoo surfaces Hong Kong stocks and China A-shares on the same platform, priced on a separate local schedule: 0.03% of consideration with a minimum of HK$3 or 3 CNH, plus a platform fee of HK$15 or 15 CNH per order, before the local stamp duty, exchange and regulator levies. Almost no other commission-free app reaches these markets at all. Investors in the Singapore and Australian entities additionally reach SGX, ASX, futures and fund products.

The gaps are specific. There is no spot forex, no CFDs and no spread betting. Bonds are absent from the US retail line-up, and there is no traditional mutual fund supermarket. Futures are not offered to US retail clients — the MAS and ASIC licences cover exchange-traded derivatives, so the Singapore and Australian entities carry futures, but a US account holder who wants to trade ES has to go elsewhere. Secondary sources put futures at roughly USD 1.99 per standard contract and USD 0.99 per micro at the entities that do offer it; Brokaro has not verified this against moomoo's own schedule.

Geographic reach is the harder constraint. moomoo accepts residents of seven countries: the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand. There is no EU, UK, German, Austrian or Swiss retail entity. For a DACH-based reader this is the single most important fact in this review.

Onboarding is entirely digital and quick. A US applicant provides identity details and a Social Security number, completes the suitability and options questionnaires, and is typically approved within one business day. There is no minimum deposit, and no balance requirement beyond the regulatory USD 2,000 for a margin account and USD 25,000 for pattern day trading.

Funding is narrow but cheap:

• ACH in and out: USD 0. A returned ACH deposit costs USD 5 per order for the first deposit and USD 10 per order for later ones; a returned ACH withdrawal costs USD 10 per order.
• Wire transfers: outgoing wires cost USD 20 domestic and USD 25 international; incoming wires are free. Correspondent banks may add charges of their own.
• Incoming ACAT transfers are free and often subsidised by a transfer bonus; an outgoing account transfer costs USD 75.

Deposits and withdrawals at Moomoo Financial Inc. are USD only, but the account itself is not a single-currency account: since June 2024 every US account has been a Universal Account that trades US, Hong Kong and China A-share markets in several currencies within one account. Cash can be exchanged in the app between USD, HKD and CNH, with daily exchange limits of USD 200,000, HK$1,500,000 and CNH 1,400,000 respectively, and non-USD cash has to be exchanged into USD before it can be withdrawn. Outside the US, base currencies such as SGD and AUD depend on which group entity holds the account; Brokaro has not verified those entities' currency rules. There are no cards, e-wallets or instant-payment rails — this is a bank-transfer broker.

moomoo runs frequent welcome, referral and transfer promotions, typically paying in free shares or cash credit. Read the holding-period conditions: most require the funded balance to stay in place for a defined window.

Research is moomoo's second-strongest suit after the terminal, and it is where the platform justifies its rating. Beyond the free Level 2 order-book depth, you get an institutional tracker showing hedge-fund and mutual-fund position changes, insider transaction data, short-interest figures, analyst ratings and price targets, full financial statements with multi-year comparisons, an earnings calendar tied to a transcript archive, sector heat maps, and a screener with a filter set that would not embarrass a paid terminal. moomoo also partners with Nasdaq and TradingView, which shows in the quality of the underlying data feed.

What is missing is the same thing missing at Webull: no in-house research desk. moomoo aggregates and visualises other people's data extremely well; it does not publish its own equity theses.

Education is better than the category norm. moomoo Lessons, tutorials, an investment-course library and a large community feed cover order types, options mechanics, technical analysis and portfolio basics, and the free unlimited paper-trading environment is the practical centrepiece. The community feed adds discussion volume, which cuts both ways — it is a useful sanity check on a thesis and an efficient way to absorb someone else's bad idea. Treat it as sentiment data, not research.

moomoo staffs a US phone line on +1 888 721 0610 (Mon–Fri, 08:30–16:30 ET), an online enquiry channel advertised as 24/7, and email at cs@us.moomoo.com, in English and Chinese. On paper the coverage is respectable, and the phone line alone puts moomoo ahead of Public.com, which does not publish one prominently.

User sentiment is mixed rather than bad. Trustpilot sits at roughly 2.4 to 3.4 out of 5 depending on which locale you read, against app-store ratings of about 4.6. The gap is smaller than Webull's, but it points the same way: people rate the software higher than the service. Recurring complaints centre on response times to written enquiries and on the friction of identity and transfer verification; there is much less of the account-access anger that dominates Webull's reviews.

One practical constraint follows from the seven-country footprint: support hours and language coverage vary sharply by entity. A Singaporean client deals with a different desk from a US client, and time-zone coverage on the US line is business hours only. If you trade the US session from Asia-Pacific, the phone line will usually be closed when you need it, and the online channel is your realistic route.

Our rating of 3.2 reflects good channel coverage held back by inconsistent responsiveness — adequate, not a reason to choose the broker.