Moomoo Review: Is This Commission-Free Trading App Worth It?

With the S&P 500 delivering strong gains and individual stock performance varying wildly—the spread between winners and losers often exceeding hundreds of percentage points—stock selection matters more than ever. If you’re researching trading platforms, you’re not content to sit on the sidelines. Moomoo has been making noise with promises of $0 commissions and “professional-grade” tools. But is it actually worth switching from Robinhood or Webull? Or is this another flashy app that cuts corners where it counts?

Here’s the short answer: Moomoo is genuinely impressive for active traders and options enthusiasts who want institutional-quality tools without paying institutional prices. The $0 contract fees on equity options alone can save serious money. But it’s not for everyone—and the company’s international ownership raises questions some investors can’t ignore.

Quick Verdict: Is Moomoo Worth It?

Yes, for active traders and options enthusiasts. Moomoo delivers on its promise of professional-grade tools at zero commission. You get 150+ analytical tools, 60 levels of free market data, and $0 contract fees on equity options—features that would cost hundreds annually at traditional brokers.

The catch: Moomoo is owned by Futu Holdings, a Chinese company listed on NASDAQ (FUTU). Your assets are protected by SIPC (up to $500,000) and held by a SEC-registered, FINRA-member broker. But if international ownership concerns you, that’s a valid reason to look elsewhere.

Best for: Active traders, options enthusiasts, cost-conscious investors who want advanced tools, beginners who’ll actually use educational resources and paper trading.

Skip if: You want human advisors, need mutual funds, prefer physical branches, or are uncomfortable with a newer platform.

What Makes Moomoo Different

Most commission-free brokers stopped at “free stock trades” and called it a day. Moomoo went further—and the difference shows when you open the app.

The $0 Options Advantage

Here’s where Moomoo genuinely stands out: $0 contract fees on equity options.

At Schwab, Fidelity, or E*TRADE, you pay $0.65 per options contract. That adds up fast:

If you trade options regularly, Moomoo’s fee structure isn’t a minor perk—it’s a significant competitive advantage. Index options still carry a $0.50/contract fee, but equity options are completely free.

150+ Professional Tools (Actually Included)

The “150+ tools” claim sounds like marketing fluff until you use the platform. Moomoo includes:

• 60 levels of free real-time market data (Level 2 data that costs extra elsewhere)
• Stock screener with custom filters
• Options analysis with 13 pre-built strategies and unusual activity tracking
• Heat maps for visual market overview
• Institutional tracker to monitor big-money moves
• AI-powered analysis (Moomoo AI) for market insights

These aren’t dumbed-down versions of professional tools—they’re genuinely useful for making informed decisions. The charting rivals TradingView (and Moomoo has a partnership with them for seamless integration).

Paper Trading That Actually Works

Moomoo’s paper trading gives you up to $10 million in simulated funds to practice with. Unlike some platforms where paper trading feels like an afterthought, Moomoo treats it as a core feature—complete with competitions and the same tools you’d use with real money.

For beginners, this is invaluable. You can test strategies, learn the platform, and make mistakes without losing real capital.

Try Moomoo — SIPC Protected, No Minimum Deposit

What You Actually Get

Trading Access

• Stocks and ETFs: $0 commission, fractional shares available
• Options: $0 commission, $0 contract fee on equity options, 13 strategy templates
• Crypto: 50+ coins, 0.49% transaction fee
• International stocks: Hong Kong, Japan, Singapore, China A-shares
• Extended hours: Pre-market and after-hours trading
• IPO access: Participate in select initial public offerings

Platform Options

Moomoo is mobile-first, but it’s not mobile-only:

• Mobile app (iOS/Android): Award-winning, full-featured
• Desktop app (Mac/Windows): Professional workspace with multi-monitor support
• Web platform: Browser-based access

The mobile app is where most users live, and it’s genuinely excellent—fast, intuitive, and packed with features without feeling cluttered.

Education and Community

• 2,000+ free courses covering stocks, options, and crypto
• Live webinars with market analysis
• Active community of 28+ million users for idea sharing
• 24/7 chat support (phone support during market hours)

Account Protection

• SIPC protection: Up to $500,000 (including $250,000 for cash)
• FDIC insurance: Up to $1 million on uninvested cash through sweep program
• Regulatory oversight: SEC-registered, FINRA member

Important: Cryptocurrency holdings are NOT protected by SIPC or FDIC. This is true across all platforms, but worth emphasizing.

Open a Moomoo Account — No Minimum Deposit Required

The Real Costs

What’s Actually Free

What Costs Money

The regulatory fees are unavoidable—every broker passes these through. They’re typically pennies per trade.

Margin Rates

If you trade on margin, Moomoo’s rates are competitive:

These rates are lower than Robinhood Gold and competitive with major brokers.

The Cash Sweep Bonus

Moomoo offers up to 8.1% APY on uninvested cash through their sweep program, with FDIC insurance up to $1 million. That’s a meaningful perk if you keep cash in your account between trades.

The Ownership Question

Let’s address the elephant in the room: Moomoo is operated by Moomoo Technologies Inc. and Moomoo Financial Inc., but the parent company is Futu Holdings Limited—a Chinese company listed on NASDAQ (FUTU).

What this means for your money:

• Your brokerage account is held by Moomoo Financial Inc., a U.S.-registered broker-dealer
• Assets are protected by SIPC (up to $500,000)
• The company is regulated by the SEC and FINRA
• Clearing is handled by Futu Clearing Inc., also a FINRA/SIPC member

What this means for your data:

• Moomoo is subject to U.S. data protection laws
• The company states user data is stored and protected in the U.S.
• However, the parent company’s Chinese domicile raises questions about potential data access

The bottom line: Your assets have the same regulatory protections as any U.S. broker. But if international ownership is a dealbreaker for you—whether for political, security, or personal reasons—that’s a valid concern. Consider Fidelity Investments or Charles Schwab as established U.S. alternatives. For a comprehensive comparison of trading platforms, see our guide to the best stock research websites.

Start Trading on Moomoo — SIPC Protected

Moomoo Pros and Cons

Pros

• $0 equity options contract fees — saves hundreds to thousands annually vs. major brokers
• 150+ professional-grade tools — Level 2 data, screeners, options analysis included free
• Paper trading with $10M virtual funds — risk-free learning environment
• 60 levels of free market data — real-time quotes without subscription fees
• No account minimum — start with any amount
• Competitive margin rates — from 6.80% APR
• 24/7 chat support — help when you need it
• Cash sweep up to 8.1% APY — earn on uninvested funds

Cons

• Newer company — founded 2018, less track record than Schwab or Fidelity
• Chinese parent company — Futu Holdings ownership concerns some investors
• No mutual funds — stocks, ETFs, options, crypto only
• No human advisors — self-directed only
• No physical branches — online/mobile only
• Crypto not SIPC protected — true industry-wide, but important to note
• Index options cost $0.50/contract — only equity options are fully free
• Can overwhelm beginners — the tool depth is a double-edged sword

Who Moomoo Is For

Active Traders

If you trade frequently and want professional tools without professional prices, Moomoo delivers. The charting, screeners, and real-time data rival platforms that charge hundreds per month.

Options Enthusiasts

The $0 contract fee on equity options is Moomoo’s killer feature. If you trade 100+ contracts monthly, the savings alone justify switching.

Cost-Conscious Beginners

If you’re new to investing and willing to learn, Moomoo’s combination of paper trading, 2,000+ courses, and zero-cost entry is compelling. Just be prepared for a learning curve—this isn’t Robinhood’s minimalist approach.

Mobile-First Investors

If your phone is your primary trading device, Moomoo’s app is genuinely best-in-class. It’s fast, feature-rich, and doesn’t feel like a compromise.

Who Should Look Elsewhere

Passive Retirement Investors

If you want to set up a 401(k) rollover or IRA and forget about it, Moomoo isn’t built for you. Consider Fidelity Investments or Vanguard for retirement-focused accounts.

Investors Who Want Human Advice

Moomoo is self-directed only. No financial advisors, no planning services. If you want guidance, look at Charles Schwab or a fee-only advisor.

Mutual Fund Investors

Moomoo doesn’t offer mutual funds. If that’s your preferred vehicle, stick with traditional brokers.

Those Uncomfortable with International Ownership

If the Futu Holdings connection is a dealbreaker, don’t force it. Fidelity Investments, Charles Schwab, and E*TRADE are fully U.S.-owned alternatives with strong platforms.

Moomoo vs. the Competition

Moomoo vs. Robinhood

Bottom line: Robinhood is simpler and better for true beginners who want minimal friction. Moomoo is more powerful for anyone who’ll use the tools.

Moomoo vs. Webull

Bottom line: Moomoo and Webull are similar, but Moomoo has an edge on options fees and customer support.

Moomoo vs. Schwab/Fidelity

Bottom line: Charles Schwab and Fidelity Investments offer more account types and human support. Moomoo wins on options fees and free tools.

Final Verdict

Moomoo is a legitimately impressive platform that punches above its weight. The $0 equity options fees, 150+ professional tools, and 60 levels of free market data create genuine value for active traders. The paper trading and educational resources make it accessible for beginners willing to climb the learning curve.

The trade-offs are real: it’s a newer company, the Chinese parent company concerns some investors, and it lacks the full-service experience of traditional brokers. But if you’re a self-directed trader who values tools and low costs over hand-holding, Moomoo delivers.

My recommendation: If you trade options regularly, Moomoo should be on your shortlist. The $0 contract fees alone can save hundreds to thousands annually. For stock-only investors, the tool advantage is less dramatic—but still meaningful if you’ll use the research capabilities.

Try it with paper trading first. You risk nothing, learn the platform, and can decide if it fits your style before committing real capital.

Open a Moomoo Account — No Minimum, SIPC Protected

Not sure if Moomoo is right for you? Explore all your options in our best stock research websites guide.

Frequently Asked Questions

Is Moomoo safe and legit?

Yes, Moomoo is a legitimate, regulated broker. Moomoo Financial Inc. is registered with the SEC and is a member of FINRA and SIPC. Your securities are protected up to $500,000 (including $250,000 for cash claims). Uninvested cash in the sweep program is FDIC insured up to $1 million. The platform has 28+ million global users and $159.5 billion in client assets. The main concern for some investors is that the parent company, Futu Holdings, is Chinese-owned and listed on NASDAQ (FUTU).

Is Moomoo better than Robinhood?

For active traders, yes. For true beginners, it depends. Moomoo offers significantly more advanced tools—150+ analytical features, 60 levels of free market data, paper trading, and comprehensive options analysis. Both have $0 commissions on stocks and options. Robinhood is simpler and has a gentler learning curve, making it better for investors who want minimal friction. If you’ll actually use advanced charting and research tools, Moomoo is the stronger choice.

What are the best alternatives to Moomoo?

For similar mobile-first trading with advanced tools, see our Webull review. For established U.S. brokers with broader services, Charles Schwab and Fidelity Investments offer excellent platforms plus retirement accounts, human advisors, and decades of track record (though they charge $0.65/contract on options). For pure simplicity, Robinhood remains the most beginner-friendly option.

How do I close or transfer a Moomoo account?

To close your Moomoo account, you must first sell or transfer all positions and withdraw all funds. You can initiate an ACAT transfer to move assets to another broker (typically takes 5-7 business days). To close the account entirely, contact Moomoo support via the app’s 24/7 chat or call during market hours (Mon-Fri 8:30 AM - 4:30 PM ET). There are no account closure fees, but regulatory fees may apply to final transactions.

Does Moomoo have hidden fees?

No hidden fees, but some costs exist. Stock, ETF, and equity options trades are genuinely $0 commission with $0 contract fees. Index options cost $0.50/contract. Crypto trades have a 0.49% transaction fee. Regulatory fees (SEC, FINRA, etc.) are passed through on all trades—these are typically pennies. Margin trading incurs interest (from 6.80% APR). ADR fees apply to foreign stocks. All fees are disclosed in Moomoo’s pricing page.

Is Moomoo good for beginners?

Yes, with a caveat. Moomoo offers excellent beginner resources: 2,000+ free courses, paper trading with up to $10M virtual funds, and 24/7 chat support. However, the platform’s 150+ tools can feel overwhelming compared to simpler apps like Robinhood. If you’re willing to invest time learning, Moomoo’s educational resources and risk-free paper trading make it a strong choice. If you want the simplest possible experience, Robinhood may be better to start.

What account types does Moomoo offer?

Moomoo offers individual brokerage, margin, IRA (Traditional, Roth, Rollover, SEP, SIMPLE), joint accounts, and custodial accounts. Individual cash accounts have no minimum deposit and provide standard SIPC protection up to $500,000. Margin accounts require a $2,000 minimum balance to access margin trading and enable features like short selling and options strategies beyond Level 1. IRA accounts support retirement investing with the same $0 commission structure as taxable accounts. Custodial accounts (UGMA/UTMA) allow adults to invest on behalf of minors. Corporate and trust accounts are not currently available.

How does Moomoo make money if trading is free?

Moomoo generates revenue through payment for order flow (PFOF), margin interest, securities lending, and cash sweep programs. Like Robinhood and Webull, Moomoo routes orders to market makers who pay for the order flow—this is disclosed in their SEC filings. Margin trading generates interest income at rates from 5.80% to 8.30% APR depending on balance. The platform also earns a spread on the cash sweep APY (the difference between what they earn and the 8.1% they pay you). Index options at $0.50/contract and crypto’s 0.49% fee contribute additional revenue. These revenue streams are standard across commission-free brokers and don’t directly cost you money on trades.

Can I trade on Moomoo from outside the United States?

U.S. residents can trade on Moomoo Financial Inc., but the platform also operates in 11+ countries through different entities. Moomoo is available in the United States, Canada, Singapore, Australia, Japan, Malaysia, and Hong Kong, with each region served by a locally regulated subsidiary. International users access different features and regulations based on their jurisdiction. U.S. accounts are specifically protected by SIPC and regulated by the SEC/FINRA. If you’re a U.S. citizen living abroad, eligibility depends on your country of residence—some countries are restricted due to regulatory requirements. Contact Moomoo support to verify eligibility for your specific situation.