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moomoo by FUTU: The Cheapest Online Trading Platform

moomoo is the cheapest online trading platform for SG, US, and HK markets
PROMO: Eligible customers get up to S$100 Cashback*, up to 1 Free Amazon Stock and Jay Chou Tickets

moomoo by FUTU: The Cheapest Online Trading Platform

moomoo is the cheapest online trading platform for SG, US, and HK markets

4.5/5.0

ValueChampion Rating ValueChampion Icon

Pros

  • Only platform with $0 platform fee, $0 market data fee and lifetime $0 commission for US stocks
  • The lowest commission fees in Singapore
  • Access to SG, US and HK forex markets
  • Intuitive trading platform

Cons

  • Limited market access
  • No futures or CFD trading available
PROMO: Eligible customers get up to S$100 Cashback*, up to 1 Free Amazon Stock and Jay Chou Tickets

moomoo powered by FUTU is the first Global Digital Brokerage to offer $0 platform fee, $0 market data fee and lifetime $0 commission for US stocks! With the lowest commission fees on the market, seamless access to financial products in Singapore, Hong Kong, and the US, no minimum initial deposit, and free access to market data, moomoo is a great choice for new and experienced traders alike.

Trade freely with no fees
Summary of moomoo powered by FUTU's Trading Platform
First Global Digital Brokerage to offer $0 platform fee, $0 market data fee and lifetime $0 commission for US stocks
Lowest commission fees in Singapore
Trade HK, US, and SG stocks and ETFs with one account
No minimum income requirement
Promotions:
  • Account opening: S$40* Cashback Coupon + Lifetime 0 Commission & 1-year 0 platform fee trade on US Stock & ETFs*
  • First deposit of S$2,700 or more: Up to 1 Free Amazon Stock*
  • Subscribe $100 into moomoo Cash Plus: Get up to S$60* cashback
  • New users deposit S$20k or more / Refer 3 friends (with initial deposits of S$1,000 or more): Free Jay Chou Tickets*
Terms and conditions apply: Welcome Bundle, Jay Chou Tickets & Cash Plus

Table of Contents

What Makes moomoo Online Brokerage Stand Out to Investors

Enjoy 0 fees when for US stocks

moomoo online brokerage stands out for having one of 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. What is better is that moomoo is the first Global Digital Brokerage to offer $0 platform fee, $0 market data fee and lifetime $0 commission for US stocks! However, do note that a platform fee of 0.03% will also be applied on every trade, bringing the fee to 0.06% with a minimum of SGD 2.49 per order.

Similarly, moomoo online brokerage only charges US$0.0049 per share with a minimum of USD 0.99 for US stocks and ETFs. By comparison, many brokers charge between US$15-29 per trade for US stocks.

moomoo trading platform screenshot
moomoo trading platform (Desktop Application)

moomoo online brokerage 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.

Currently, moomoo is running a welcome promotion until 30 June 2022 0959 where opening an account successfully and making a first deposit of S$2,700 or more will net a welcome bundle worth S$1,000. Refer to table below for details:

moomoo welcome promotion

Task
Reward
Successfully open a FUTU SG Securities Account(i) Lifetime commission-free trading for US stock market
(ii) 1-year free platform fee for US stock market
(iii) Free access to Lvl 2 Market Data for the US stock market
(iv) Free access to Lvl 1 Market Data for the SG stock market
(v) Free access to Lvl 2 Market Data for the China A Shares market
(vi) SGD 10 Stock Cash Coupon
(vi) SGD 30 Fund Cash Coupon
First Deposit ofSGD 2,700 & above(i) 1 chance to spin the wheel and get 1 free share* worth between SGD 20 to SGD 1,000 (including stock from Apple, Facebook, Tesla & more) when you deposit S$2,700 and above.
Terms and conditions apply

You can apply through ValueChampion by clicking on the Learn More button, or through this link.

Investment Opportunities at moomoo Online Brokerage

Investors can trade a range of securities in the US, Hong Kong, and Singapore with moomoo online brokerage. These include:

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 in the future.

moomoo powered by FUTU Online Brokerage 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.


Market
moomoo Commission FeeMin CommissionPlatform FeeIndustry Average Commission FeeIndustry Average Min. Commission
Singapore0.03%SGD 0.990.03%(min. SGD 0.99)0.22%SGD 25
US0%USD 00% (first year)
USD0.99 thereafter
0.27%USD 15-29
HK0.03%HKD 3HKD 150.21%HKD 100-200
^Apply to learn more about promotion terms and conditions

moomoo Online Brokerage Investor Eligibility Requirements

PROMO: Eligible customers get up to S$100 Cashback*, up to 1 Free Amazon Stock and Jay Chou Tickets
Consider this if you want to trade in the US, HK or Singapore with very low commission fees

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
  • Citizenship
  • 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 online brokerage 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 best online brokerages and trading platforms in Singapore.

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Stephen Lee

Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.