moomoo: Investing & Trading Reviews

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 moomoo 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.

by Ghjngyuu

On January 20th 2021, I was trading options as I regularly do. I have been a patron of FUTU/this app 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.

this app seems great on paper, but be warned. The glitches robinhood, TD and others face are walks in the park compared to this app’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 this app, 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

this app 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, this app 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 DoeDoeNigga

After depositing and opening account I did not receive any free stock that was supposedly promised to me. Moo Moo keeps trying to allow me to give them access to all my data usage in order to unlock gifts that I can receive if I invite people…. Why would they want my data usage so bad for? Definitely not trust worthy, if they promise something and don’t give it, then keep bugging you for your data usage info.

Also, there’s no reason why I need proof of address to register. I’ve never had to do that with any other broker account and I’ve used almost every single one. Over 30 different brokers and not 1 asked for a bill statement. There’s something fishy about moomoo and would stay away, very regretful I gave my personal info to these people.

by PlumDumb

I wrote a review about two months ago saying how much I love this platform, unfortunately that’s not the case anymore. I can’t find my way around and I am constantly lost. Jumping to different screens should be simple and fast. It is hard enough dealing with blinking lights and numbers moving so I shouldn’t have to see those awful cartoon creatures that everyone thinks are cute, or animated coins bouncing around. Way too many fonts in far too many sizes. If you have ADHD like I do, chances are you’ll get frustrated. If you don’t mind all the extra noise than this is a 5 star trading platform. They have a ton of useful tools and being able to paper trade options is extremely helpful. You should definitely give it a chance, I did, and I’m headed back to We Bull.

by KryptoNaught

Overall this is an excellent, feature rich platform to join the likes of other commission free brokerages. The quotes page is laid out beautifully. The analysis is greatly appreciated and provides low level technical pattern recognition. Lastly the order placement system is top notch, allowing really complex orders on a mobile platform is amazing. I have only a handful of recommendations that would make this platform really stand out.

1. Reduce the strength of the ma/ema indicators on the charts. The bold colors often obscure the candlesticks on shorter timeframes. Slightly reducing their alpha would make a huge difference. I often have to toggle the indicator on and off to get a clear picture of price action.

2. Integrating Stocktwits instead of the proprietary this app community chat system. It would be nice to have the stocktwits accounts I follow presented in the trading app itself.

Other than that this is my go to brokerage from now on. Excellent work!

by Stevestrobes

Downloaded moomoo yesterday and have mostly positive things to say. UI is great and trade executions seem like they will be simple. Some of the cool data points it adds in involving market attitude is really cool, Robinhood does nothing like that. And the live chat feature is cool too, hoping to see it more active as moomoo gets more downloads. My only qualm is with the free stock. Always great and not complaining just a comment on clarification. You get a certificate saying you can redeem it for the stock from $8-200. I got ZNGA and it seems like lots of people have. Just think you guys should clarify that it’s not $8-200 but the ability to redeem ZNGA for example from any value up to $8. Other than that fantastic program and hope to get more free stocks in the future, hopefully there’s a JNJ value stock in my future!

by Jeronomo2012

Very similar to Webull so if you can use that you can use this. I’ve found it easier to place trades on here though as you don’t have to go to a separate screen. this app’s analysis and information sections are a bit different from Webull but it’s good cause it gives you more tools you can access. I found moomoo by accident and I’m honestly surprised more people don’t talk about this trading platform. I believe it equally lives up to the Webull, Think or Swim, and Robinhood platforms.

by Lamkkool

My job is focus on trading Hongkong stocks and some of the US stocks. For the first look at moomoo, it gives me a feeling that this app is pretty professional in this trading app business. You offer almost all kinds of charts and Corp info that a trader needs. But the interface make me sick, especially the font type. Looks like long tail caterpillar to me and compare to tiger or Robinhood, your font type is unfriendly and ugly. Hope to see that you can change another font type that looks more friendly and cooler.

by Gwp8106

The platform is great. The free level 2 is a huge plus for day traders; that was one of the main reasons I downloaded moomoo . The more I played around with it, the more I found myself wanting to fund an account. So I went to do so, and my bank isn’t listed (I have a fairly popular bank that is supported almost everywhere, so it’s a bummer that it’s not listed here)...it would be nice to have an alternative funding option for people like me who aren’t willing to open new bank accounts under one of the supported banks so we can fund our trading cash account...but I’ll be holding onto moomoo for the lvl 2 trading and hoping my bank gets supported in the future

by Drdorga7

So far I am mostly enjoying this app after switching from robinhood. The execution speed is fast and there is a lot of information and graphs at your disposal.

However there is one thing in particular that is bugging me. I noticed that when I’m trading penny stocks, there is only 3 decimal places and is rounded. For example, instead of a stock’s price reading .2547 like it should, it reads a rounded number in .255. This may seem like nitpicking, but this does make a difference with the spread on penny stocks and seems like an easy fix. Thank you, and looking forward to continued improvements!

by BtfdMS

Great platform however there are a quite a bit of things that this app lags behind other platforms making it inferior. First is you cannot even create any type of spread the option is just not available. Another is whenever I try to buy an option on the windows (pc) version it removes the chart and I cannot even look at the chart for an entry point, so you’re essentially shooting a bit blind there (I’ll admit this could be from lack of exp. on this app but so far have not found a solution) And some other minor things like editing chart indices, etc.

by Luckystrikeguy

After Robinhood, like many others out there, I was left looking for another app to switch to and after much research and trying other competitors, I landed on this app and have been loving it so far.

I was able to sign up instantly, and start trading without any headaches, whereas with Webull it’s been a week and I’m still waiting. I’m especially a fan of their desktop app :-) and unlike others on here, I actually did get really fast support with their desktop app so I’ve had a great experience overall.

I’m Never using Webull after trying this app, I mean look at the way the Webull devs treat their customers in just the comments on their app reviews. It’s gross.

by Faradinc

Although the “learning curve” on all of the features and dimensions are a little challenging, I believe this is the most complete, advanced and practical trading platform. The extended trad8ng hours and funds with margin availability in addition to the speed of trade execution is outstanding!
FYI: I have an engineering background with extensive computer programming and business analysis expertise. I have used almost every trading platform from the relics to the upstarts: TD, RH, E-trade, Firsttrade, WeBull...etc....

by MHTSOS

I mainly got this for the mobile platform which I must say is quite impressive per my opinion. All in all this app has more than met my expectations as far as U/I goes and ease of use. Some or many may have a different opinion and that is perfectly fine also.

A scanner would be great unless there’s something I am missing.

Also, I am not able to find my wife’s account from my bank account. I do not know if this is a legal thing or not but just letting you know in case anything can be done about it.

If possible, add Wescom Credit Union to your list of banks.

I still rate it 5 stars as these are things that can be worked on and besides a few annoyances, it has been a very easy and fun app to use.

by Grhehejeerirjrjrirrjrj

I wish I could came across moomoo sooner! I have always been intersted in learning about investment strategies. moomoo is the best place for me to get started. It is very easy to use. What I love most about moomoo is that it actually push you to take charge and be responsible for your own investment decision. There are so many apps like acorns and robinhood, they don't ask you to do that, and you become lazy and that will not land you anywhere good. Ultimately you need to grow and learn. this app is a perfect place to get started.

by Staplesnotcrypto

Thank you for my almost immediate approval of my Hong Kong/China accounts. It is my pleasure as well as a great honour to do business in the form of stock trading. It is my understanding your stock market is one of the very best! Moo moo is an up and coming trading company which will not only create a sort of market fusion but bridge anything which may be considered a gap between the states and China.
A side note, I hope to travel to China someday soon, especially Hong Kong to see the skyline there, which from what I’ve only seen on tv and film looks to be most impressive!!

by MNKID22

I love how on Robin Hood you can trade options even when you’re waiting for your money to clear I added $420 to my account thinking I was going to be able to trade options this week and only found out that I was unable to having to wait for the ACH transfer to clear. I also think that Robin Hood‘s debit card is an awesome asset to have because if you are in need of some extra cash all you have to do is liquidate a few things and right away and it’s accessible to your use on your debit card.

by Survey ER

I’ve used RH, WB, And others and this app is by far the easiest to use . Has the most detailed information out of All the investment apa. There are tons and tons of useful information and stats that NOBODY else gives you and I feel it’s giving me a huge advantage. There are too many to list but my favorite is being able to see the top performing stocks from each industry and see which industry is performing better then others etc . The possible combinations are endless. I also love how clear and easy it is to day trade and to know how many left you are allowed . You can trade from 1AM to 5 PM PST. Believe me . This is the most under rated app out there .

by SelicaFox

Updated review: Thanks for the response. Glad to hear about the upcoming improvements. I will definitely check out the desktop app. If it's like the phone app, I think it'll be first-rate.

First review: I like that you can see the bid and ask in real-time. The charts are much better than Robinhood.
The main reason I have to move on is because of the PDT rule. Usually it's removed if you deposit $25,000. I got my account to 30k in a couple of weeks and emailed support to get it taken off. It's still on and I'm losing profits. Also you can only deposit 5k at a time so I had to do 5 transactions. I also prefer having a desktop version to work with.
I recommend it if you're not an active trader.

by DrkCyd

Overall this is an excellent, feature rich platform to join the likes of other commission free brokerages. The quotes page is laid out beautifully. The analysis is greatly appreciated and provides low level technical pattern recognition. Lastly the order placement system is top notch, allowing really complex orders on a mobile platform is amazing. I have only a handful of recommendations that would make this platform really stand out.

1. Reduce the strength of the ma/ema indicators on the charts. The bold colors often obscure the candlesticks on shorter timeframes. Slightly reducing their alpha would make a huge difference. I often have to toggle the indicator on and off to get a clear picture of price action.

2. Integrating Stocktwits instead of the proprietary this app community chat system. It would be nice to have the stocktwits accounts I follow presented in the trading app itself.

Other than that this is my go to brokerage from now on. Excellent work!

by NatalHydra53

I have good experience with this app. I dont have a huge portfolio, so using a free trading app is my go-to for investing in stocks. For the most part, the experience are excellent, the data is way better than robinhood and like most people talk about here, love their charts, very smart. I have a crash one time, but it is zero commission app, what else you want. Overall I think it is a great trading option if you want to do some serious trading.

by Fdas3213

This trading app is much better than Robinhood. It provides a lot of technical indicators, such as volume, macd, and moving average. In addition, 2nd level market information is extremely useful. One minor suggestion is that for option trading, please provide vertical/horizontal/diagonal spread features.