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.
|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|
Table of Contents
- What Makes moomoo Stand Out to Investors
- Investment Opportunities at moomoo
- moomoo Fees
- moomoo Investor Eligibility Requirements
What Makes moomoo Online Brokerage Stand Out to Investors
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 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:
|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 of||SGD 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:
- Stocks (Hong Kong, Singapore, US, China A)
- Margin Interest
- 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 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.
|moomoo Commission Fee||Min Commission||Platform Fee||Industry Average Commission Fee||Industry Average Min. Commission|
|Singapore||0.03%||SGD 0.99||0.03%(min. SGD 0.99)||0.22%||SGD 25|
|US||0%||USD 0||0% (first year) |
|HK||0.03%||HKD 3||HKD 15||0.21%||HKD 100-200|
moomoo Online Brokerage 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 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.