Moomoo Review – How Does This Trading App Compare?

About Moomoo

Moomoo is a trading platform that specializes in overseas trading and investing. It covers not only US stocks, but also Hong Kong stocks, Chinese stocks, Singapore stocks, and Australian stocks. The platform offers powerful charting features for desktop and mobile as well as market insights and stock research tools. Moomoo isn’t as user-friendly as some other trading platforms, especially on mobile, but the platform has improved significantly since it first launched.

So, is Moomoo the best trading app for your needs? Keep reading our Moomoo review to find out if it’s right for you.

Moomoo Pricing Options

The Moomoo trading platform is completely free to use.

The platform nudges you to open a brokerage account with Moomoo Financial Inc., which is owned by Hong Kong-based Futu Holdings Ltd. Moomoo Financial offers commission-free trading on US stocks and ADRs, but there are fees for international trading. You’ll pay a 0.03% commission for international stocks plus a fee of HK$15 or ￥15 per order. For US options, you’ll pay Securities and Exchange Commission (SEC) fees of $0.65 per contract.

You can use Moomoo without live trading capabilities if you do not wish to open a brokerage account. If you do sign up for a trading account through Moomoo, you can get free Level 2 market data.

Moomoo Financial also supports trading on margin at a rate of 6.80% APR.

Assets and Account Types

Moomoo supports stock, ETF, and options trading over extended trading hours. Forex, cryptocurrencies, commodities, and mutual funds are not supported.

In addition, you can only open an individual brokerage account. There are no retirement accounts available.

Moomoo Features

Market Overview

Moomoo provides impressively in-depth coverage of stock markets in the US and Asia. You can view stocks, ETFs, and options on the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, and Singapore Stock Exchange. For each of these markets, the app shows the gain/loss of the major indices, the distribution of advancers and decliners, and the average gain/loss across market sectors. You can also look at pre-market activity to quickly spot stocks that moved the most prior to the day’s market open.

Another neat feature is the ranking list, which shows you what stocks have gained or lost the most value over a specific period – say, 5 minutes or 5 days. You can filter stocks in this list by the day’s percent change, volume, and fundamental metrics too, making it even more actionable for active traders hoping to find breakout stocks.

If you want more control over finding potential trading opportunities, Moomoo also has a standalone stock screener with dozens of parameters to choose from. Notably, the screener includes parameters for technical movements such as golden crosses, divergences, and moving average crosses. There are also plenty of filters around trading activity and fundamental analysis.

Stock Pages And Technical Charts

On individual stock pages, you can access detailed technical charts, news and analysis, options chains, and more. There’s also a dedicated sub-page for financial data, which includes information about the specific products or services that drive a company’s revenue. Moomoo does a nice job of displaying fundamental data visually, with simple charts showing changes in EPS and revenue over time.

Moomoo’s technical charts are another selling point for advanced and active traders. You can view tick-by-tick or one-minute price data, and the charts use candlesticks by defaults instead of less detailed line plots. On top of that, Moomoo allows you to compare two stocks on the same chart, to add dozens of technical indicators, and to draw trendlines and Fibonacci retracements.

If you’re using Moomoo’s mobile trading platform, simply turning your phone sideways allows you to view full-screen charts.

Custom Portfolios

Another nice feature within Moomoo is the portfolios module. You can create up to 30 custom portfolios with up to 50 stocks each. Simply assign a percentage weight to each stock in the portfolio and Moomoo will automatically track the portfolio’s performance over time.

While you can use these portfolios as watchlists, they’re particularly useful for sharing potential investing ideas. Portfolios can be public or private, and anyone on Moomoo can follow a public portfolio and leave comments on it.

News Feed

Moomoo offers a very useful news feed that breaks down into a few different streams: Headlines, Express, Watchlists Related, and Special Reports. The Headlines stories are the biggest pieces of news driving the market, mostly sourced from CNBC.

The Express stories focus on minute-to-minute updates that could be catalysts for price action. What’s really nice about this feed is that it comes with an audio squawk. So, you can hear headlines in real time while keeping your attention on charts.

Social Network

Perhaps the most unique feature of Moomoo is its social network. The network operates like a hybrid between Twitter and Reddit. You can follow other users on the app, post short status updates that are similar to tweets, view other traders’ custom portfolios and comment on them, and join discussion groups around specific topics.

To help you get started using the network, Moomoo suggests popular stocks that are trending in discussions as well as top posts that are receiving a lot of attention. Moomoo also has a top picks section where you can find discussions that the moderation team thinks are worthy of your time.

Moomoo Customization And Layout

Moomoo is available for iOS and Android smartphone as well as Mac and Windows computers. The platform appears to have been built with mobile devices in mind, but the sheer amount of functionality packed into Moomoo can make it somewhat difficult to navigate. There’s a bottom menu of tabs, for example, but the tabs that are available change based on what module you’re in.

While Moomoo is extremely versatile in terms of the features it offers, the platform isn’t as customizable as you might expect. There’s no way to change the layout of the software on mobile or desktop, and you cannot set defaults for things like technical charts. One plus is that, in addition to custom portfolios, you can create an unlimited number of watchlists.

Compatible Brokers

While many apps and platforms are compatible with the popular ThinkOrSwim trading platform from TD Ameritrade, Moomoo is only compatible for live trading with Moomoo Financial Inc. Moomoo Financial is a registered broker dealer and is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA). The brokerage offers commission-free trading on US stocks, margin trading, and trading post-market hours.

Moomoo Customer Service

Moomoo offers 24/7 customer service by email and live chat. Traders can also contact the support team by phone during US market hours.

Moomoo Platform Differentiators

Moomoo is an extremely comprehensive stock research and analysis platform. The mobile-first approach of this platform sets it apart from other online trading platforms, while the features that Moomoo offers are much more flexible and powerful compared to mobile apps like Robinhood or Webull.

Moomoo’s mobile platform has a lot of capabilities in common with the Thinkorswim mobile app. However, on Moomoo, you never have to touch the desktop app to access all the features, which isn’t true for Thinkorswim.

The social network built into Moomoo is also a distinctive feature. While there are other social stock trading platforms, very few have such robust analysis tools available to traders.

What Type Of Trader Is Moomoo Best For?

Compared to competing apps like Robinhood and Webull, Moomoo isn’t as easy to use. It’s an advanced trading platform that simply has more features, and it takes time to figure out where to find them and how to use them.

That said, advanced traders will appreciate that Moomoo’s tools are very comprehensive. Having multiple watchlists, scanners, and mock portfolios all within the app makes it easier to find trading opportunities in real-time. The audio squawk in the news feed is also tailored for experienced traders who can act on breaking news.

One of the greatest benefits to Moomoo is that it enables you to trade stocks from markets in Hong Kong, China, Singapore, and Australia. Many US brokerage apps, including Robinhood and Webull, only support US stocks and ADRs. Although you’ll pay trading fees for international stocks, Moomoo is still one of the most accessible options for investing in Asian markets.

The social network is the icing on the cake for this platform. The focus on discussion forums makes it very useful for gathering thoughts on specific market trends or even individual stocks. It’s also helpful to see the portfolios that other traders have created and how they’ve performed.

Alternatives to Moomoo

If you want to trade Hong Kong-listed stocks or Chinese A-shares, there are relatively few good alternatives to Moomoo. One option is Interactive Brokers, but its fee structure and trading tools are far more complex than what’s available at Moomoo.

If you’re mainly interested in trading US stocks and options, then there are many alternatives to Moomoo. Simpler, more user-friendly options include Robinhood and Webull. Webull offers decent charting features, but it doesn’t offer research tools that are even close to on par with Moomoo’s tools.

TD Ameritrade and its Thinkorswim platform offer more features, but they’re not as easy to use. ETRADE is another option and its research and charting tools feel most comparable to what Moomoo offers. However, ETRADE doesn’t have any social networking features.

Pros

• Completely free to use
• Very comprehensive technical charts
• News feed with audio squawk
• Social network with public portfolios and discussions
• Compatible with Moomoo Financial Inc. for live trading

Cons

• Mobile app isn’t that easy to navigate
• Only connects to Moomoo Financial Inc. accounts