Moomoo stock trading review

How we rated Moomoo’s features

Moomoo is best for active traders

Moomoo is best suited to active or experienced traders who can make the most of its advanced trading tools. Features like free Level 2 market data and advanced charting allow you to perform in-depth market analysis, while competitive brokerage fees are another plus for regular traders.

Where Moomoo shines

Moomoo’s trading apps are user-friendly, easy to navigate and provide fast access to all the essential features you need. When it comes to accounts, choose between a cash account, margin account (if you want to trade with leverage), TFSA or RRSP account.

Second, it provides plenty of bang for your buck for experienced traders. While other platforms charge a fee for real-time Level 2 market data, Moomoo offers it for free. You’ll also find a host of advanced charting tools on the platform, including a wide range of customizable charts and technical indicators as well as handy features like trailing stop orders.

Third, its brokerage fees are low, so you’ll pay CAD $0.0149/stock to trade Canadian stocks and ETFs (minimum CAD$1.49 per trade) and USD$0.0099/stock to trade US stocks and ETFs (minimum USD$1.99 per trade). There are no account maintenance or inactivity fees to worry about either, which is good news for your bottom line.

More pros of Moomoo

• Paper trading account. Moomoo lets you open a demo paper trading account, so you can test out trading strategies and get a feel for how the platform works.
• Real-time quotes. Stock quotes are updated every 0.3 seconds. Moomoo users can access Level 2 data for Canadian and US stocks at no extra charge.
• Educational resources. Moomoo users can access an extensive library of courses to learn more about different aspects of investing. Topics range from the basics of investing through to advanced trading strategies and analysis.
• Analyst ratings & charting tools. You also get free access to stock ratings and analysis from over 4,000 Wall Street analysts. Discover technical patterns and get alerts using 35+ charting tools and over 60+ technical indicators across 10 categories.
• Market news. Moomoo provides free access to 24/7 market and financial news from 50+ reputable sources, including Bloomberg, Dow Jones and Reuters.
• Extended trading hours. For US securities, Moomoo offers pre-market and post-market trading from 4am to 8pm ET. Trade Canadian securities from 8am to 5pm.
• No account minimum. There is no minimum deposit required to open an account, and Moomoo also doesn’t charge an account inactivity fee.
• Competitive currency conversion costs. If you want to exchange CAD to USD to trade US stocks, Moomoo charges a low currency exchange fee (on transactions under $100,000) of 0.09% + USD$2.
• Red-green colorblind-friendly app. Those with red-green colorblindness can use Moomoo with greater ease than many other investment apps in Canada.
• 24/7 customer service. Get help from real people via live chat or email any time you need it.

Where Moomoo falls short

Moomoo may not be the best choice if you prioritize variety, as the platform doesn’t offer many choices when it comes to account types and securities.

Joint accounts aren’t available, although you can open a Spousal Registered Retirement Savings Plan (SRRSP). You can only trade Canadian and US securities, including stocks and ETFs. That means other markets are off limits, and you can’t invest in mutual funds, bonds, GICs or crypto.

While Moomoo’s extensive array of charting and analysis tools are a big plus for experienced traders, the fact that its trading fees aren’t limited might be a deterrent, especially if you trade frequently.

Moomoo fees

Is Moomoo legit?

Moomoo was founded in 2018 in Palo Alto, California. It has since expanded its operations into Singapore, Australia, Japan, Malaysia and Canada, and it is a subsidiary of China-based company Futu Holdings Limited.

Moomoo Financial Canada Inc. is regulated by the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF). The platform has over 23 million users worldwide.

Moomoo trading platforms

Moomoo offers mobile and desktop apps you can use to trade Canadian and US stocks and ETFs. It also offers an OpenAPI platform for quantitative investors.

Moomoo Mobile

The Moomoo mobile app is available for Android and iOS devices. It allows you to place trades, freely access real-time Level 2 Canadian and US stock quotes, use advanced charting tools and create customized screeners.

The app has received many positive reviews from both Android and iOS users. They commonly praise the app for making it easy for beginner investors to get their feet on the ground and for providing access to lots of information and educational resources. However, those who left negative feedback sometimes mentioned factors like inconvenient or malfunctioning features.

Moomoo Desktop

The desktop version of the Moomoo app is available for PC and Mac. It features integrated charting tools with over 100 technical indicators and the ability to create your own custom indicators. There are also dozens of charting tools to help you identify when to trade, and you can use up to six monitors to track multiple stocks in real-time across different timeframes.

Moomoo’s app store reviews

Moomoo’s customer support

If you have any problems with your account, Moomoo offers an extensive online help centre.

Toll-free phone support is available from 8:30am to 4:30pm ET on trading days, and online live chat is available 24/7. You can also get in touch with the support team via email if you’d prefer.

How to open an account with Moomoo

You can open a Moomoo account by completing the following steps:

1. Go to Moomoo's website.
2. Select Open account.
3. Enter your email address and create a password.
4. Select the type of account your want to open.
5. Provide your name, date of birth and contact details.
6. Provide proof of ID.
7. Submit your application.

Account approval often happens the same day, but it could take 1-3 business days.

Eligibility and required information

To open an individual margin account with Moomoo, you need:

• A Canadian Social Insurance Number (SIN)
• A valid residential address in Canada
• A valid mobile phone number
• A valid email address
• At least CAD$7,000 in net assets
• To be the age of majority in your province/territory (18 or 19 years old). You must be at least 21 years old to open a margin trading account.

How safe is Moomoo?

In Canada, Moomoo’s brokerage products are provided by Moomoo Financial Canada Inc., which is regulated by the Canadian Investment Regulatory Organization (CIRO) and is registered with securities regulators in Ontario, Quebec and British Columbia. It is also a member of the Canadian Investor Protection Fund (CIPF), providing added peace of mind for investors.

Moomoo is also overseen by other major regulatory bodies around the world. These include the US Securities and Exchange Commission, the Monetary Authority of Singapore, the Australian Securities and Investments Commission and the Securities Commission Malaysia.

If you want to increase the security of your Moomoo account, you have the option to turn on the device lock feature. This requires you to verify your details when you log in to your Moomoo account on a new device for the first time.

Compare Moomoo with other platforms

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Finder Score (low-high)Finder Score (high-low)Available Asset Types (low-high)Available Asset Types (high-low)Account Types (low-high)Account Types (high-low)Stock Trading Fee (low-high)Stock Trading Fee (high-low)Account Fee (low-high)Account Fee (high-low)Offer (low-high)Offer (high-low)

Product CAFST	Finder Score	Available Asset Types	Account Types	Stock Trading Fee	Account Fee	Offer
Interactive Brokers	Finder Score 8.8 Great	Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures	RRSP, TFSA, Personal, Joint	min $1.00, max 0.5%	$0		Go to siteView details Compare	loading Fetching your data...
CIBC Investor's Edge	Finder Score 7.6 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, Joint, FHSA	$6.95	$0 if conditions met, or $100	Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2425. Plus, get $200 or more cash back. Valid until March 31, 2025.	Go to siteView details Compare	loading Fetching your data...
Moomoo Financial Canada	Finder Score 7.4 Great	Stocks, Options, ETFs	RRSP, TFSA, Personal, FHSA	$0.0149/stock	$0	Enjoy a 6% cash rebate plus up to $4,600 in trading perks. Offer ends March 31, 2025	Go to siteView details Compare	loading Fetching your data...
RBC Direct Investing	Finder Score 7.9 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, Joint, Business, FHSA	$6.95 - $9.95	$0 if conditions met, otherwise $25/quarter	Get a $300 cash bonus and up to 500,000 Avion points when you open your first eligible RBC Direct Investing account. Plus, get 50 commission-free trades to use within one year of account opening. Conditions apply. Offer ends March 31, 2025	Go to siteView details Compare	loading Fetching your data...
Questrade	Finder Score 8.8 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, Forex, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, FHSA	$0	$0	Get $50 cash back when you open a self-directed account and fund it with at least $250. Use code FINDER50.	Go to siteView details Compare	loading Fetching your data...
Qtrade Direct Investing	Finder Score 7.7 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs	RRSP, RESP, RRIF, TFSA, Personal, Joint, FHSA	$6.95 - $8.75	$0 if conditions met, otherwise $25/quarter	Get 1% cashback or more, a $150 sign-up bonus & unlimited free trades until April 30th, 2025.	Go to siteView details Compare	loading Fetching your data...

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Finder Score for stock trading platforms

To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.

Read the full methodology