moomoo powered by FUTU has the lowest commission fees on the market and offers seamless access to financial products in Singapore, Hong Kong, and the US. With no minimum initial deposit and free access to market data, moomoo is a great choice for new and experienced traders alike.
|Summary of moomoo powered by FUTU's Trading Platform|
|Lowest commission fees in Singapore|
|Trade HK, US, and SG stocks and ETFs with one account|
|No minimum income requirement|
|Promotions: Get 1 Free AAPL Share & 180 days unlimited commission free trading for the US, HK & SG stock market when users successfully open a securities account from 2nd Sept - 2nd Oct 2021. Users will have to deposit a total of SGD 2,700 or USD 2,000 or HKD 16,000 and trade 5 times on any market and any product.|
Table of Contents
- What Makes moomoo Stand Out to Investors
- Investment Opportunities at moomoo
- moomoo Fees
- moomoo Investor Eligibility Requirements
What Makes moomoo Stand Out to Investors
moomoo stands out for having the lowest commission fees on the market. Account holders pay a commission fee of just 0.03% when trading Singapore and Hong Kong stocks, significantly lower than the 0.21-0.22% industry average. Similarly, moomoo only charges US$0.0049 per order for US stocks, ETFs, and American depositary receipts (ADRs). By comparison, many brokers charge between US$15-29 per trade for US stocks.
moomoo has no minimum initial deposit, which means beginner investors can get access and start trading right away. Other perks include moomoo’s intuitive app and analysis tools. The mobile app offers tools like technical indicators, stock ratings, free level 2 market data, and 24/7 financial news to inform your trades.
Investment Opportunities at moomoo
Investors can trade a range of securities in the US, Hong Kong, and Singapore with moomoo. These include:
- Stocks (Hong Kong, Singapore, US)
- American Depositary Receipts (ADRs)
- Real Estate Investment Trusts (REITs)
- and Options.
Other investment platforms like Tiger Brokers offer access to other markets like mainland China and Australia and more financial products. However, moomoo plans to expand into other markets and offer Exchange Traded Futures, warrants, derivatives, and other products in the future.
moomoo powered by FUTU's Fees
Fees are important with any investing service you choose. As with other services, moomoo charges both a commission fee and flat platform fee per trade. While moomoo offers less market access than competitors like Saxo Markets, it’s very low commissions make it the cheapest choice for investors who only want to trade in Singapore, Hong Kong, and the US. The following table illustrates the commission and platform fees that moomoo charges in each market.
|moomoo Brokers Fee||Min Commission||Platform Fee||Industry Average Commission Fee||Industry Average Min. Commission|
|Singapore||0.03%||SGD 0.99||0.03%(min. SGD 1.50)||0.22%||SGD 25|
|US||USD 0.0049||USD 0.99||USD 0.005(min. USD 1)||0.27%||USD 15-29|
|HK||0.03%||HKD 3||HKD 15||0.21%||HKD 100-200|
|US Stock Options||USD 0.65||USD 1.99||-||-||-|
moomoo Investor Eligibility Requirements
moomoo, like other investing platforms, requires you to submit a few personal details and documents to open an account. These details include:
- Full Name Including Alias
- Current Residential Address
- Date of Birth
- and Passport or Identity Card Number.
You can easily apply for an account through the moomoo trading app. First, download the app via the Google Play Store or the Apple App Store. Next, fill out the required information, which can be auto filled via MyInfo. moomoo has no minimum initial deposit and the account setup process typically takes between 1-3 business days. Once approved, you can deposit funds and begin trading with one of the cheapest online trading platforms in Singapore.