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Moomoo Online Stock Broker Review
ConsumersAdvocate.org Rating: 4.2 / 5 (Excellent)
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Moomoo is headquartered in Palo Alto, California.
How Do We Rate Moomoo?
Breakdown
Our Overall Rating: 4.2 / 5 (Excellent)
Moomoo Features
Features - 4.5 / 5
Moomoo also features margin trading for those who wish to increase their return on investments. Users can trade across the U.S., Hong Kong, Shanghai and Shenzhen markets.
According to Moomoo's website, it only supports individual margin accounts, which some might consider a shortfall. However, the company states the Moomoo app has instructions traders can follow in case they prefer not to use margin.
Moomoo also offers many in-app trading tools and resources. Some of these include:
- Institutional tracking
- Industrial chain
- Stock screener
- Featured lists
- Paper trading
- Learning courses
| Portfolio Management | Self-Directed |
| Investment Products |
Stocks
ETFs
Options
|
| Types of Accounts | Margin |
| Mobile App | Yes |
| Margin Lending | Yes |
Moomoo Fees and Commissions
Pricing and Fees - 4 / 5
International trading transactions also come with access to market data for free. On the other hand, they have commission and platform fees.
There are no minimum amounts for opening an account or for trading. Moomoo's margin rate is relatively low, coming it at 6.8%.
In order to fund your Moomoo account, you must make deposits through bank wire transfers or via ACH. The same applies to withdrawals. ACH transfers are free, while wire transfers have a cost of $10 each. Moomoo does not support other funding methods.
| Trade Cost/Commission | $0 |
| Minimum to Open Account | $0 |
Moomoo Financial Strength and Customer Experience
Customer Support and Reputation - 4 / 5
The company has earned a score of 2.3 out of 5 on Trustpilot. Negative reviews complain about misleading promotions, unhelpful customer support, and issues with deposits and withdrawals. Positive reviews praise its tools, educational resources, and portfolio expansion options.
Moomoo's licensed experts are available to offer customer support during trading days between the hours of 8:30am–4:30pm ET.
| Year Founded | 2018 |
| BBB Rating | B |
| BBB Total Complaints | 2 |
| BBB Resolved Complaints | 2 |
| Trust Pilot Rating | 2.3 out of 5 |
| Live Help 24/7 | No |
| Customer Support Hours | 8:30am–4:30pm ET. |
| Contact Methods |
Phone
Email
|
Company Profile
| Full Name | Moomoo Online Stock Broker |
| Company Website | |
| Headquarters | 550 California Ave, Ste. 201, Palo Alto, CA, 94306 |
Disclaimers
Margin trading involves interest charges and heightened risks, including the potential to lose more than invested funds or the need to deposit additional collateral. Before trading on margin, customers are advised to determine whether this type of trading is appropriate for them in light of their respective investment objective, experience, risk tolerance and financial situation.
Free trading refers to $0 commissions for Moomoo Financial Inc. self-directed individual cash or margin brokerage accounts of U.S. residents that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply. For details, please see Commission and Fees.
All types of investments are risky and investors may suffer losses. Past performance of investment products does not guarantee future results. Electronic trading also poses risks to investors. The responsiveness of the trading system may vary due to market conditions, system performance, and other factors. Account access and trade execution may be affected by factors such as market volatility.
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Customer Comments & Reviews
$0 Equity Option Contract Fee
- Trade stocks, ETFs & options from one account
- $0 commissions* on all US exchange-listed ETFs
- Competitive 6.8% margin rate*
Traders can choose between the Moomoo mobile app or the desktop version. Moreover, they can open accounts and trade with no minimums and no commissions on select transactions.
However, the platform does have a few shortfalls, which may drive some users away. For example, Moomoo only offers margin trading accounts. It also doesn't support crypto trading. Additionally, accounts can only be funded through wire or ACH transfers.