Moomoo Review (2026)
Moomoo suits active traders who want US stocks, Hong Kong stocks and China A-shares in one individual account, with $0 stock and ETF options and a flat 6.8% margin rate. The one thing to know: it offers no IRAs and no joint accounts, and the $0 platform fee on US trades is a promotion that Moomoo can end on 30 days notice. Moving your account out costs $100.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against Moomoo's own fee schedules, rate pages, disclosures and regulator records (12 sources, listed below). We re-check prices about once a month. We do not earn a commission from Moomoo.
Moomoo at a glance
| US stocks and ETFs | $0 commission; $0 platform fee during a promotion that began in November 2018 and can end with 30 days notice [1] |
|---|---|
| Stock and ETF options | $0 commission and $0 contract fee; clearing and regulatory fees passed through [1] |
| Index options | $0.50 per contract plus exchange index fees [1] |
| Hong Kong and China A-shares | Hong Kong: 0.03% of the trade (min HK$3) + HK$15 platform fee per order; China A-shares: 0.03% (min CNH 3) + CNH 15 [1] |
| Mutual funds and bonds | Not in the US fee schedule; we found no mutual funds or bonds on offer [1] |
| Account minimum | $0 for cash and margin accounts [2] |
| Fractional shares | US stocks and ETFs on Moomoo's fractional list, from $5 an order, regular hours only [3] |
| Account types | Individual cash and individual margin only; no IRA, no joint account [2] |
| Cash | Opt-in Cash Sweep; 3.6% APY for users who meet a deposit or transfer offer (as of September 18, 2026) or who pay for Moomoo Engine; the standard rate is not published [4] |
| Margin | 6.8% a year on US stocks at every balance; Hong Kong stocks 6.8%; China A-shares 8.8% (fee schedule of October 1, 2026) [1] |
| Transfer out | $100 per ACATS transfer; $75 for a DTC free-of-payment transfer [1] |
| Other fees | $10 per assisted phone trade; $20 outgoing domestic wire ($25 international); $3 per printed statement plus postage [1] |
| Moomoo Engine | $3.99 a month after a 30-day free trial [6] |
| Platforms | Mobile app and moomoo Desktop (including Linux); paper trading [8] |
| SIPC | Moomoo Financial and its clearing firm Futu Clearing are FINRA and SIPC members; we found no excess-SIPC terms [10] |
| Company | Moomoo Financial Inc. (CRD 283078), formerly Futu Inc., FINRA member since January 2018; a subsidiary of Futu Holdings Limited (Nasdaq: FUTU) [10] |
What a year at Moomoo costs
| Situation | Cost or interest | How we got it |
|---|---|---|
| Open and close a 10-contract options trade, twice a month for a year | $0 | $0 a round trip x 24. |
| $10,000 left uninvested for a year | Rate not published | Cash Sweep (opt-in); Moomoo does not publish the rate on its public pages. Moomoo advertises 3.60% APY for users who meet a deposit or transfer offer or join Moomoo Engine. |
| Borrow $10,000 on margin for a year | About $680 | 6.8% a year on a $10,000 balance. Interest accrues daily, so the exact figure varies a little. |
| Move the whole account to another broker | $100 | Full outgoing transfer (ACATS). |
Moomoo Engine: $3.99 a month. Bundles its analysis tools and lists 3.60% APY on the cash sweep among the perks.
Hypothetical examples, our arithmetic from Moomoo's published fees, cash rate (as of October 19, 2026) and margin rates (as of October 19, 2026), read on October 19, 2026. Broker commissions and the broker's own per-contract fees only: the small SEC, FINRA, OCC and exchange fees passed through on sales and option trades are left out. Cash and margin rates move with the Federal Reserve's rate.
What Moomoo costs
| Plan | Paying monthly, 1 year | Annual plan, 1 year | 3 years (cheapest way) |
|---|---|---|---|
| Standard | $0 | - | $0 |
| Moomoo Engine30-day free trial | $47.88 | - | $143.64 |
Our arithmetic from the listed prices, before sales tax, assuming today's prices hold; subscriptions can renew at a different rate. Moomoo prices Engine by the month only; we found no yearly plan. Engine bundles analysis tools, real-time Level 2 options and Nasdaq TotalView data, the 3.60% cash sweep rate and the first $1,000 of margin interest-free.
How Moomoo works
Moomoo Financial is the US broker of Futu Holdings, a Hong Kong-based group. You trade in the Moomoo mobile app or the moomoo Desktop app (which has a Linux build), with paper trading for practice. Trades clear through Futu Clearing, and Moomoo says it executes through Futu Clearing and Interactive Brokers. US stocks, ETFs and OTC stocks carry $0 commission, and the platform fee is also $0, but only "during promotion": the waiver has run since November 2018 and the fee schedule says it may end with 30 days notice. Accounts Moomoo classes as non-retail, because of a high order count, pay $0.0049 a share (minimum $0.99) and $0.65 per option contract.
The account is narrow. You can open an individual cash account and an individual margin account, nothing else: no IRA, no joint account, no custodial account. There are no mutual funds or bonds in the US fee schedule. What Moomoo adds is access to Hong Kong stocks and China A-shares (through Stock Connect) from the same US account, priced as a percentage commission plus a fixed platform fee per order, along with prediction-market contracts ($0 during an introductory period, then $0.01 per side per contract plus a $0.01 exchange fee). If you want this for long-term saving, an IRA elsewhere is the place for it; see where to open an IRA.
Cash does not earn interest by default. The Cash Sweep program you opt into pays 3.6% APY to users who meet a deposit or transfer offer, or who subscribe to Moomoo Engine at $3.99 a month; Moomoo does not publish the rate for everyone else, which is why the cost block on this page shows the rate as not published. Margin is one flat 6.8% on US stocks, with no tiers, so a large balance pays the same rate as a small one.
A hypothetical Hong Kong trade: you buy HK$20,000 of a Hong Kong stock. The commission is HK$20,000 x 0.03% = HK$6, above the HK$3 minimum, plus the HK$15 platform fee, so HK$21 per order, and HK$42 to buy and later sell, about 0.21% of the position. On a smaller HK$5,000 order, 0.03% is HK$1.50, so the HK$3 minimum applies: HK$3 + HK$15 = HK$18, about 0.36%. Hong Kong exchange and government charges come on top. The fixed HK$15 matters most on small orders.
Pros
- Hong Kong stocks and China A-shares from a US account
- $0 commission and $0 contract fee on stock and ETF options
- Flat 6.8% margin with no tiers
- Desktop app with a Linux build, plus paper trading
- Free Level 2 data for funded accounts, per Moomoo
Cons
- No IRA, joint or custodial accounts
- The $0 platform fee is a promotion that can end on 30 days notice
- $100 per outgoing ACATS transfer
- Cash earns the advertised 3.6% only if you meet an offer or pay for Engine
- Fractional orders start at $5 and run in regular hours only
Who Moomoo fits, and who should skip it
A good fit if
- You want Hong Kong stocks and China A-shares in the same account as your US stocks.
- You trade stock and ETF options and want $0 commission and $0 contract fee.
- You borrow on margin and want one flat rate, 6.8%, at any balance.
- You want a desktop app, including a Linux build, and paper trading.
Look elsewhere if
- You want an IRA or a joint account: Moomoo offers neither; Webull has both with $0 stock and ETF options.
- You want international stocks with an IRA and $0 to transfer out: Interactive Brokers.
- You borrow more than $50,000 on margin: Robinhood charges 5.05% or less above $50,000.
- You want mutual funds or bonds: Fidelity.
Limitations to know
- Fractional trading runs only from 9:30 AM to 4:00 PM ET, with a $5 minimum buy. [3]
- Moomoo runs welcome and transfer bonus offers, but their terms load by script and we could not read the amounts or conditions; read them before you count on a bonus. [11]
- Margin trading needs at least $2,000 in assets, although cash and margin accounts have no deposit minimum. [2]
- Rejected bank transfers cost $5 on a first deposit and $10 after that, and $10 on a withdrawal. [1]
- Phone support runs 8:30 AM to 4:30 PM ET on weekdays (+1 888 721 0610); online inquiries are taken 24/7. [7]
Moomoo compared with alternatives
| Broker | Options per contract | Default cash rate | Transfer out | Fractional shares |
|---|---|---|---|---|
| Moomoo | $0 stock/ETF options; index options $0.50 | Not published | $100 | Yes |
| Webull | $0 stock/ETF options; index options $0.50 | Not published | $75 | Yes |
| Interactive Brokers | $0.65/contract ($1 minimum) | 0% on the first $10,000; 2.38% above (Lite) | $0 | Yes |
| Robinhood | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) | 0% | $100 | Yes |
| Fidelity | $0.65/contract | 3.48% 7-day yield if you pick SPAXX (no default named) | $0 | Yes |
- Pick Webull if you want IRAs and joint accounts with $0 stock and ETF options.
- Pick Interactive Brokers if you want international stocks, an IRA and $0 to transfer out.
- Pick Robinhood if you want margin from 5.25% and an IRA match.
- Pick Fidelity if you want mutual funds, bonds and $0 to transfer out.
Security and privacy
- Moomoo Financial and Futu Clearing are SIPC members, so SIPC covers up to $500,000 per customer, including $250,000 cash, if the broker fails. We found no excess-SIPC coverage on the pages we read. [10]
- Swept cash goes to program banks. Moomoo's marketing says FDIC coverage up to $2 million across them; its program terms word the limit differently ("$2 million in the aggregate at each Deposit Bank") and mention joint accounts Moomoo does not offer, so check the terms before relying on a figure. [5]
- Moomoo's help center covers a moomoo token (dynamic code), a separate trading password, device management and passkeys; we did not confirm how each works. [2]
- Moomoo publishes quarterly SEC Rule 606 order-routing reports (latest Q2 2026); we did not extract whether it receives payment for order flow or how much. [9]
- In November 2024 FINRA fined Moomoo Financial $750,000 over influencer posts that were not fair and balanced; in December 2025 FINRA fined it $125,000 for not reporting 4,192 positions to the Large Options Positions Report. [12]
- Moomoo's BrokerCheck report also discloses that in May 2026 its parent Futu was notified of a China Securities Regulatory Commission investigation and preliminary penalty notice over services to mainland-China investors from 2023 to 2025, and that Japan's regulator suspended new accounts at affiliate Moomoo Securities Japan from June 19 to September 18, 2026. Neither action is against the US broker. [12]
Recent changes
| Date | What changed |
|---|---|
| Oct 1, 2026 | US fee schedule updated, adding a prediction-markets section and listing margin at 6.8%. [1] |
| Nov 2018 | The $0 platform fee promotion on US trades began; it is still running and can end on 30 days notice. [1] |
Moomoo FAQ
Is Moomoo safe?
Moomoo Financial is a FINRA-registered broker-dealer (since January 2018) and, with its clearing firm Futu Clearing, a SIPC member, so up to $500,000 including $250,000 cash is covered if the broker fails. SIPC does not cover market losses. FINRA fined Moomoo Financial $750,000 in 2024 and $125,000 in 2025. Its parent, Futu Holdings, is listed on Nasdaq.
Does Moomoo charge for options?
Stock and ETF options carry $0 commission and $0 contract fee; clearing and regulatory fees are passed through. Index options cost $0.50 per contract plus exchange fees. Accounts classed as non-retail pay $0.65 per contract (minimum $1.99 an order). See our <a href="/best-options-trading-platform/">options platform comparison</a>.
What does Moomoo pay on cash?
Nothing unless you join the Cash Sweep. Moomoo advertises 3.6% APY for users who meet a deposit or transfer offer or who pay $3.99 a month for Moomoo Engine; it does not publish the rate for other users. Compare <a href="/high-yield-savings/">high-yield savings accounts</a> for idle cash.
Is Moomoo good for beginners?
It has no deposit minimum and offers paper trading, fractional shares from $5 and $0 commissions on US stocks. It has no IRA, so it cannot hold retirement savings, and its app centers on trading tools. Our guide on <a href="/micro-investing-on-small-budget/">investing with little money</a> covers the basics.
Moomoo vs Webull?
Both charge $0 on US stocks and on stock and ETF options, and $0.50 per index option contract. Webull offers IRAs and joint accounts and charges $75 to transfer out; Moomoo offers neither and charges $100. Moomoo's margin is a flat 6.8%; Webull's is 8.74% on the standard account or from 5.45% with Premium. Only Moomoo trades Hong Kong stocks and China A-shares. See the <a href="/brokers/webull/">Webull review</a>.
How do I transfer out of Moomoo, and what does it cost?
Start the transfer at the receiving broker. Moomoo charges $100 per outgoing ACATS transfer, or $75 for a DTC free-of-payment transfer of a position. Many receiving brokers reimburse transfer fees.
How we researched this review
We did not get paid or receive a free account for this page. We read Moomoo's own pricing page, help center, security and privacy pages and app-store listing on October 19, 2026, quoted each fact from those pages, and link every one below. We did not run a long-term hands-on test, so we do not score the app; where a point rests on what the company says rather than something we can check, we attribute it to Moomoo. Cost figures are our own arithmetic. We re-check prices and plans about once a month and log changes in the table above.
Sources
- Moomoo Financial, US fee schedule (updated October 1, 2026), checked October 19, 2026.
- Moomoo Help, Account types and requirements, checked October 19, 2026.
- Moomoo, Fractional shares, checked October 19, 2026.
- Moomoo, Cash Sweep, checked October 19, 2026.
- Moomoo Help, Cash Sweep Program terms, checked October 19, 2026.
- Moomoo, Moomoo Engine membership, checked October 19, 2026.
- Moomoo, Pricing (platforms and customer service), checked October 19, 2026.
- Moomoo, Paper trading, checked October 19, 2026.
- Moomoo Help, SEC Rule 606 reports, checked October 19, 2026.
- Moomoo, About, checked October 19, 2026.
- Moomoo, Welcome offer, checked October 19, 2026.
- FINRA BrokerCheck, Moomoo Financial Inc. detailed report (PDF), checked October 19, 2026.
Head-to-head comparisons
This review is for general information, not investment advice. Investing involves risk, including loss of principal; margin and options can lose more than you put in. Fees and rates change; check the broker's own pages before you open or move an account.