Top Rated For

• Best International Tradi𓄧ng Plat▨form for Chinese Stocks
• Best Broker for Earning High Interest on Uninveste✅d Cash
  

Our Take

Moomoo is a newer online trading platform that delivers solid analytical and trading tools with commission-free trad👍ing in U.S. stocks, ETFs, and options. Moomoo also provides its customers with access to𒅌 Chinese A shares and Hong Kong-listed stocks. In addition to commission-free trading for these U.S. markets, moomoo also offers competitive margin rates and pays one of the industry’s highest interest rates on uninvested cash balances, making it a viable choice for U.S. stock, ETF, and options traders.

Introduction

Moomoo is owned by Futu Holdings Ltd, a publicly traded company listed on the Nasdaq (under the ticker “FUTU”). Moomoo was founded in 2018 in Palo Alto, California, and also has an office in Jersey City, New Jersey. The company’s goal is to provide a professional-level trading platform and strong analytical tools to everyday traders.

The company offers trading on its platform in U.S. equities, ETFs, options, and index options, as well as trading access to the Hong Kong exchange and Chinese A-List stocks. Moomoo has expanded to provide access to its platfor♏m to investors in Canada, Hong Kong, Australia, Malaysia, Japan, and Singapore. At the end of 2024, the company had 25 million global users and nearly $96 billion in client assets.

Pros & Cons

Pros Explained

• No commissions on U.S. stocks, ETFs, and options: Moomoo does not charge any commissions for trading U.S. stocks, ETFs, or options. There is a fee, however, on 澳洲幸运5开奖号码历史查询:index options trading. While many online brokers have moved to commission-free stock and ETF trading, moomoo is one of the few that also offers commission-free options trading, making it a good choice for those looking for a low-cost options trading platform.
• Strong trading and analytical tools: Moomoo offers robust platforms with helpful trading tools that can be customized across mobile and desktop platforms.
• Competitive rate on cash balances: Moomoo offers a cash sweep program that pays an industry-leading 8.1% interest rate for 3 months, then it drops to a still competitive rate of 4.1%. However, only new customers and existing customers utilizing a promotion receive this rate, which is also subject to change at any time.
• Free level 2 quotes and options chains: Moomoo provides users with free level 2 quotes and options chains. While many platforms offer option chains, they are not always in real time. Level 2 quotes, which provide users with additional information about trade sizes and market players, are not always provided by online brokers for free.

Cons Explained

• Limited investment options: The trading vehicles in U.S. markets available at moomoo are U.S. equities, ETFs, options, and index options. Moomoo also provides access to the over-the-counter (OTC) and 澳洲幸运5开奖号码历史查询:American depository receipts (ADRs), as well as Hong Kong stocks and China A-List shares. Users can also trade fractional shares.
• Limited account types: An individual margin account is the only option for U.S. investors at moomoo. This means there are no options to open a joint account, a trust account, or any type of retirement account. This is very limited compared to other online brokerage platforms.
• High fees for transferring money out: While some online brokers do not charge any fee for transferring cash or securities out of an account, moomoo has relatively higher fees for this type of service, including a $20 outgoing domestic wire transfer fee, a $25 outgoing international wire transfer fee, and a $75 fee for transferring a stock position out of the account.
  

Usability

Moomoo offers an intuitive and easy-to-use interface, even though its sophistication may require a bit of a learning curve. Thi🍎s is comparable to other platforms, which often require learning to get the most out of them. There are moomoo platf✱orms for mobile and desktop use, and they are well coordinated. For example, changes made to screeners on one platform will be carried over to the other platform. Additionally, opening an account is straightforward, and is entirely done online. Moomoo supports both Apple and Android users with both desktop and mobile versions of its platform.

Trade Experience

The trading experience on moomoo’s platforms is smooth. It is easy to choose the type of trade you want to make and to identify the individual security. The interface can be customized and cha🅷nges made on one platform are visible on the other platform, so you do not have to make the same configuration more than once. 

When trading options, the user can choose the 澳洲幸运5开奖号码历史查询:type of strategy using dropdown menus, where they can then customize the trade by selecting the specific strikes and maturities to fit the desired trade characteristics. The desktop version has enhanced charting and supports the ability to create algorithmic trading strategies without the need for extensive computer programming.

Desktop Experience

Moomoo offers a dedicated desktop trading platform. The fully customizable software provides advanced charting with over 100 indicators and 38+ drawing tools, as well as some unique features such as Trend Projection and Pattern Finder. It also has an options strategy builder that provides functionality for placing advanced orders, including 6 conditional orders and 3 Algo orders. Lastly, moomoo’s desktop platform has code-free algo trading functionality, allowing clients to automate market monitoring, backtesting, and trading–users can create their own algos, or select from over 100 pre-built template.

Mobile Trade Experience

The mobile app, available for both iOS and Android, is also easy to use and intuitive. The app does a good job replicating the desktop experience on the smaller mobile platform. It is very easy to set up trades, even for complex options positions. Charting on the mobile app is robust, and multiple drawing and analysis tools are also available—which is not always the case with mobile charting. You have access to all the same markets on the mobile app and can use alerts to keep track of the market and the specific securities you trade.

Range of Offerings

Moomoo has a limited number of offerings available to customers in the U.S. The markets available to trade are U.S. stocks, ETFs, options, and index options, as well as Hong Kong and China A shares. This is not a wide range of offerings, and investors who want mutual funds and/or fixed income exposure will likely find the platform lacking for their needs. For more active traders, however, there are plenty of stocks and options to trade with no commissions other than for index options. Moomoo also offers 澳洲幸运5开奖号码历史查询:fractional shares, allowing clients to start investing with as little as $5.

Trading Technology

Moomoo’s trading technology is good. In addition to its intuitive platforms, moomoo offers a wide range of order types, including algo orders. moomoo also offers a number of helpful trading technologies. These technologies include support for fractional share trading, the ability to backtest trading strategies against 20-plus years of data, a trade journal, and paper trading that allows traders to try out their strategies without risking capital. Another feature provided by moomoo, which is not commonly available at online brokers, is free access to level 2 quotes. Trading technologies not present on moomoo, however, include the ability to control tax lots and dividend reinvestments.

Costs

Moomoo does not charge commissions to trade U.S. stocks, ETFs, stock options, and even OTC-listed companies. Trading index options entails a $0.50 🧸per contract fee. Moomoo’s 6.8% margin rate is also among the lowest on the market.

How This Broker Makes Mone♛y From You and For You

Moomoo makes money from customers through the dif💮ference in its funding rate and the margin rates customers pay, as well as through the difference between what moomoo pays customers in interest and the rate at which it can invest its customers’ spare cash. Moomoo also generates revenue through securities lending operations and commissions on international investments.

While moomoo does not receive 澳洲幸运5开奖号码历史查询:payment for order flow (PFOF) on the trades executed on its platform, the broker's clearing company, Futu Clearing Inc., an indirect, wholly-owned subsidiary of Futu Holdings Ltd, may receive PFOF or rebates in return for routing orders to third-party market centers.

Account and Research Amenities

Like most online brokers, moomoo offers a nice assortment of account and research amenities, although there are limitations because of the company’s focus on active traders over investors. For instance, moomoo does not offer portfolio analysis tools, and there are no banking services available. Moomoo does, however, provide thirdꦦ-party research on its platform. Most tools and research amenities on moomoo are related to supporting stock and options trading.

Stock and ETF Screener

Moomoo provides its users with a solid 澳洲幸运5开奖号码历史查询:stock and ETF screener. In addition to preset screens, users can customize their own screens and use results to enter into trades directly from the screener. In addition, the screeners remain consistent across devices, meaning users don’t nౠeed to worry about manually creating the same screeners on mobile and desktop. Moomoo also offers the ability to combine technical and fundamental criteria and create a watch list from that.

Mutual Fund Screener

Since Moomo𓆏o does not offer mutual funds, it does not have a mutual fund screene✅r.

Options Screener

Moomoo offers an options screener that lets investors set various criteria, including strike price, expiration date, option type, and 澳洲幸运5开奖号码历史查询:implied volatility. The moomoo options screener allows users to quickly💜 find options and strategies that meet the trader’s needs.

Fixed Income Screener

Moomoo does not offer fixed income trading, so it do🎶es not🌃 have a fixed income screener.

Tools and Calculators

Moomoo does not offer many tools and calculators, but it does have an options calculator that allows users to select a specific option and change various criteria to find a theoretical price for that scenario. Examples include the ability to change the current date and stock price to see how a specific option’s price would, theoretically, change. The desktop platform also has an options strategy builder, allowing users to create options strategies that fit their investment goals and budgets.

Charting

The charting functionality on moomoo is excellent. The desktop platform provides users with over 100 technical indicators and 38+ drawing tools. Further, users can set up customized windows that allow them to monitor up to six stocks in what is essentially real-time (the data is updated every 0.03 seconds). 

In addition to this impressive functionality, moomoo users will find it easy to set up their own customized indicators for use in charts, with the ability to 🌼incorporate more than 190 preset functions. Charts can be set up to provide an alert when a particular price is reached.

News

Moomoo offers news to its users through multiple information channels on its platform, including headline news and 24/7 news in a waterfall format. In addition to these basic news platforms, moomoo also provides a financial calendar with economic and earnings release information, a section on U.S. macroeconomic news, and a section for con🍌tent on specific topics in finance and economics. There is also a video feed to keep up with market news and analytics.

Third-Party Research

Moomoo offers external research reports and analyst ratings for free. The research analysis at moomoo is broken into three sections: a consensus rating, a target price, and information on specific companies providing the ratings. There is also a detailed review section for the research that users can access. Moomoo cautions users that the information in its research reports is for informational use only and not a recommendation to buy or sell securities.

Cash Management

While Moomoo does not offer its customers check-writing, debit cards, or credit cards, the platform does have a daily automatic cash sweep once the customer initiates the sweep functionality on their account. The cash sweep currentl💯y pays a high interest rate of 8.1% for three months, later dropping to 4.1%, but this is only for new and existing customers utilizing a promotion to receive this rate, which is also subject to change at any time. 

Existing customers can qualify for the higher cash sweep rate by depositing $500 into their account or by pr💜oviding a referral that leads to an account opened with at least a $100 balance.

Fractional Shares

Moomoo supports fractional share trading for as little as $5.

Fractional Dividend Reinvestment Plan (DRIP)

Moomoo does not offer a dividend reinvestment plan, so the platform is somewhat limited when it comes to portfolio analysis tools.

Portfolio Analysis

Moomoo is geared toward active traders, and not buy-and-hold investors looking for traditional portfolio management tools related to asset allocation or financial planning. Wh🌟ile the platform is somewhat limited when it comes to portfolio analysis tools, the tools on offer are well-designed and effective.

Brokerage account customers will find that moomoo's Asset Analysis mostly focuses on returns and displaying gains and losses. Standout tools include P/L Trend, which compares your portfolio's 澳洲幸运5开奖号码历史查询:profit/loss ratio with major indexes like the S&P 500 and Nasdaq 100, based on a selectedꦑ timeframe, view by currency, which allows users to view assets in different currencies converted to one asset at the real-time exchange rate, and Fund Details, where users can customize how they see money spent, money earned, and other key portfolio metrics.

Education

Considering its focus is on trading over investing, moomoo does a ni♕ce job of providing educational resources to its customers. While the content does lean more towards tr🌳ading than investing, moomoo Learn is vast and very easy to navigate. There are courses and tutorials to help traders get up and running on overall markets and moomoo’s platforms. 

The educational section even offers information “bubbles” along the user journey. Examples of content include stocks, options, earnings reports, and technical analysis. The content is generally free, but there is some content that requires users to deposit $100 into their account. On top of this, moomoo also creates content in the form of webinars and through the moomoo Community, a feed that shares potential trading ideas, related content, and forums by topic.

Customer Service

Customer service is available via live chat 24/7, by phone from 8:30 a.m. to 4:30 p.m. ET on trading days, and by email. Response times were pretty fast, and licensed brokers were helpful.

Security and Reliability

Moomoo’s platform is secure and reliable, as it has not had a serious data breach or platform outage in the past four years. Further, moomoo’s platforms offer two-factor authentication, although mobile apps do not have biometric screening, such as fingerprint or facial recognition. Accounts at moomoo are covered by the Securities Investor Protection Corporation𝓀 (SIPC), an✅d cash sweep accounts are handled with different banks to ensure all customer funds are insured.

Trustpilot ratings for moomoo are mixed, with a nearly equal split between 5 and 1 reviews averaging to a 2.9 rating to date; good reviews liked the platform and low cost of trading, while bad ones cited difficulties when withdrawing money or being credited with promotional shares offered.

Transparency

Moomoo’s website shows good transparency, as all information about account types, fees, commissions, and available trading vehicles is clearly stated. There are dro🍒p-downs for many of the fee areas so that potential and existing customers can drill down beyond the basic fee information, so it is easy to understand how much they will 𝔍be paying in commissions and account fees.

Available Account Types

Account types at moomoo are very limited. U.S. customers are limited to just an individual (taxable) cash or margin account. There are no options to open a trust, retirement, or even a joint account at moomoo.

The Bottom Line

Traders looking for a low-cost platform to trade stocks, ETFs, and options should consider moomoo. The brokerage platform offers commission-free trading in all of these markets. The platform is intuitive and easy to use, and customer preferences are reflected consistently across the 🤪platforms. The desktop software is robust and offers many advanced features, including some algo functionality.

Although you are not able to route your own orders, execution is actually performed by Futu Clearing I🔯nc., an indirect, wholly-owned subsidiary of Futu Holdings Ltd. With an account that has an automatic sweep paying 8.1% interest on excess cash and below 🧜average margin rates, moomoo is a strong new entrant to online brokers looking to attract active traders.

How W✨e Picke🅘d the Best Online Brokers and Trading Platforms

Providing readers with unbiased, comprehensive reviews of online brokers and trading platforms is a top priority for Investopedia. We combined our industry research and subject matter expertise to guide the research and weightings for our 2025 online broker rankings. To collect the data, our researchers collected data points through online research of provider websites. To fill in any gaps, our research team reached out to the individual brokerages. In some instances, our researchers did much deeper online research to get the information they needed to complete the data collection. The data collection process spa♓nned from Dec. 20, 2024 to Feb 19, 2025.

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Through this all-encompassing data collection ꧟and review process, Investopedia has provided you with an unbiased and thorough review of the top online brokers and trading platforms.