Contact moomoo Support

by Ghjngyuu

On January 20th 2021, I was trading options as I regularly do. I have been a patron of FUTU/MOOMOO for about a year and it has been an utter joke. Last week, I had a massive options position opened. Around 12Pm the order book glitched leaving wrong numbers on the order book leaving me to believe my position was still in my risk parameters and would be able to close the position if need be.

I emailed Futu support (SINCE THEY HAVE NO NUMBER TO CALL!!) and told them about my issue. It took over 5 days to give me the generic response that they are not responsible and that I should read TOS because apparently I agreed that even if there’s a glitch I’m responsible for losses occurred. Over $30,000 USD was lost due to the incompetence and lack of support from the FUTU customer service team. Due to the glitch I was unable to close the position and was left in the dark for 5 whole days, not being told anything other than to wait patiently.

Moomoo seems great on paper, but be warned. The glitches robinhood, TD and others face are walks in the park compared to Moomoo’s disastrous glitches and endless mistakes. (DONT FORGET THEY LACK A CUSTOMER SERVICE PHONE NUMER! Only email!)

You’re better off donating your money to a charity before depositing it on Moomoo, atleast then you won’t be depressed when you lose your life saving due to a massive glitch, caused by a CHINESE brokerage.

See you in court Futu Holdings

by AMD-YES

Moomoo forced to sell my in the money options one hour before the options expired and made me lost $50. They did that because of their so called "risk control" and "insufficient fund". However, as a brokage, Moomoo doesn't understand the rule of options and the difference between right and obligation. I want to fully control the options that I own! I can choose (have the "option") NOT to EXERCISE the option if I can't and there is no risk what so ever! I talked to the customer setvice and told them it is wrong but she said that is how they operate and she cannot do anything about it! It is surprising that a brokage is so unproportional and makes the decision for your posotions, even if you don't have any margin!

by Shamssheikh

1. It’s not free. I did 1 lot option trade till now and charges were - option buying fee .48 cents and option selling fee .12 ..

2. It does not show your position based on mark price as TD Ameritrade or Robinhood does. It just updates based on last traded price and it’s misleading as there might not be any trade but option price might have gone down. Eg let’s assume you bought 1 lot at 1.80 and price went up and last order price of option was 2 and meanwhile price reversed and went down to 1 however this app still show as 20 profit instead of 80 loss.

3. I see all these features + real-time option price in Webull( its way better than Robinhood) + cash account wherein you can do any number of day trade.