moomoo by FUTU: The Cheapest Online Trading Platform

moomoo by FUTU: The Cheapest Online Trading Platform

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

Good for

  • Those seeking the lowest commission fees in Singapore
  • Investors who want to trade on SG, US, and HK foreign exchange markets
  • New investors looking for an intuitive trading platform

Bad for

  • Investors seeking the most market access
  • Individuals particularly interested in futures & CFD trading

Analyst's Rating

4.5/5.0

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: Promotion bundle of 1 free Apple share with a deposit of SGD 2,700 (HKD 16,000 or USD 2,000) within 30 days, 180 days unlimited commission-free trading for US, HK & SG markets, and free level 2 market data for US stocks. Now all users will also recieve free level 1 market data for SGX securities. Additionally, invite friends to get up to S$600 cash coupon and up to 600 days of commission-free trading. Terms and conditions apply.

Table of Contents

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)
  • ETFs
  • 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.


Market
moomoo Brokers FeeMin CommissionPlatform FeeIndustry Average Commission FeeIndustry Average Min. Commission
Singapore0.03%SGD 0.990.03%(min. SGD 1.50)0.22%SGD 25
USUSD 0.0049USD 0.99USD 0.005(min. USD 1)0.27%USD 15-29
HK0.03%HKD 3HKD 150.21%HKD 100-200
US Stock OptionsUSD 0.65USD 1.99---
^Apply to learn more about promotion terms and conditions

moomoo Investor Eligibility Requirements

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 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.

Comments and Questions