If the balance on your account

If the balance on your account goes negative, you will not be protected. Moomoo’s product portfolio is average, offering stocks, ETFs, options, futures and funds. Some other popular asset types such as bonds, forex, CFDs or cryptos are not available. Moomoo’s mobile trading app is user-friendly, with a good search function and a good variety of order types. On the other hand, login features are somewhat limited. We also compared moomoo’s fees with those of two similar brokers we selected, Webull and Alpaca Trading. This selection is based on objective factors such as products offered, client profile, fee structure, etc.

  • Moomoo is a member of SIPC, which is America’s major insurance company for brokerage accounts.
  • However, it is currently available only for clients from the US and Singapore.
  • Moomoo is an online broker that lets you trade commission-free stocks and ETFs as well as options.
  • The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
  • And you can paper trade in the United States, Hong Kong, Singapore, and for China A-Shares.

For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms. Moomoo provides a breakdown of its fee schedule, which shows the types of fees and commissions it charges to both US and non-US residents. Moomoo, or rather its parent company Futu Holdings, profits primarily from commissions and interest income. If you look at Futu’s latest earnings report, 54% of its third-quarter 2021 revenue came from commissions, while 36% came from interest income. The other 10% is listed under “Other income,” which is income that doesn’t come from the company’s main business and can include income such as rent or gains from the sale of assets. Shannon Terrell is an editor for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions.

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Plus, by just trying out the app with just SGD 2,700, you are entitled to 1 AAPL share and almost half a year of commission-free trading. However, do ensure that you adhere to the conditions and you will be getting your free AAPL https://twitter.com/forexcom?lang=en shares and free of charge 180 days trading experience. Lastly, who can be oblivious to the Asia super apps developed by Tencent and Alibaba? These are the bluechip tech stock representatives available on the Hong Kong market.

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While many trading apps offer free trading, Moomoo differentiates itself through its vast research https://www.tdameritrade.com/investment-products/forex-trading.html tools. Its charting and technical research tools are far ahead of some competitors’.

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Moomoo is commission-free for stocks, options, ETFs (exchange-traded funds), and ADRs for U.S. traders trading in U.S. markets. Stocks without dealing directly with foreign stock markets. For retail investors, international trading opportunities is a plus. You can trade stocks in other markets with low fees compared with other platforms. This isn’t a massive drawback if you’re mostly trading stocks and ETFs and want some non-U.S.

The company originally traded as NASDAQ symbol FHL, but changed to FUTU. Moomoo offers research tools on all of its platforms.

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