One of the most powerful low-cost platforms for active equity and options traders in the US. Free NASDAQ TotalView Level 2, $0 equity options, flat 6.8% margin, and Hong Kong/China A-share access. Structurally incomplete: no IRAs, no joint accounts, no mutual funds, no bonds.
- Free Level 2 TotalView
- $0 equity options
- Flat 6.8% margin
- HK + China A-shares
- Moo AI analytics
At a glance
- Founded
- 2018
- Minimum deposit
- $0 cash; $2,000 for margin; $25,000 for PDT day-trading
- Regulators
- SEC · FINRA · SIPC
Jersey City, NJ
SIPC $500K
Strengths and weaknesses
Strengths
- Free real-time NASDAQ TotalView Level 2 (60 bid/ask levels) for funded accounts — single biggest free perk
- $0 equity options per contract; $0.50 on index options; no per-leg charge on multi-leg orders
- Flat 6.8% margin rate for ALL balances — uniquely competitive at small/mid-balance tiers
- Hong Kong stocks and mainland China A-shares — extremely rare among US-domiciled brokers
- Desktop platform: 63 indicators, 38 drawing tools, 90+ hotkeys, 0.03-second quote refresh
- Advanced options analytics free: Unusual Options Activity scanner, IV Rank/Percentile, 0DTE feeds, 13 pre-built strategies, P/L visualization
- Paper trading with $1M virtual capital + Moo Community social feed
- Aggressive May 2026 promo stack: up to $1,000 NVDA stock + 8.1% APY for 60 days + 3% ACATS match (cap $600)
- Moomoo Crypto via Coinbase CaaS — 50+ coins (launched May 2025)
- NerdWallet, BrokerChooser, DayTrading.com rate the active-trader experience as top-tier
Weaknesses
- No IRAs of any flavor (Traditional, Roth, Rollover, SEP, SIMPLE all unavailable for US clients)
- No joint accounts, no custodial UTMA, no trust, no 529, no Solo 401(k)
- No mutual funds, no individual bonds, no forex, no futures for US clients
- No fractional shares for US clients
- No bracket / OCO orders on the standard ticket
- Curated OTC list (~3,000 names) excludes much of Pink/Grey universe; real-time OTC quotes paywalled at $6.99/mo
- Execution quality slightly below average: 96.71% NBBO+ vs. industry 97.51%
- Two FINRA actions in past 18 months: $750K (Nov 2024, "finfluencer" supervision + Reg S-P) and $125K (Dec 2025, LOPR options reporting)
- Trustpilot rating bimodal: 4.7★ iOS but 2.3★ Trustpilot — complaints concentrate on withdrawals and KYC reverification
- Phone support Mon–Fri 8:30 a.m.–4:30 p.m. ET only
Best for
- Active tradersFree real-time NASDAQ TotalView Level 2, 63 technical indicators, 0.03-second quote refresh, 90+ hotkeys, and customizable workspaces — comparable depth to Webull Desktop and approachable next to TradeStation/IBKR TWS, all at $0.
- Options trading$0 equity options with no per-leg charge on multi-leg orders, $0.50 index options, plus free Unusual Options Activity scanner, IV Rank/Percentile, 0DTE high-volume feeds, and 13 pre-built strategies. Tied with Robinhood/Webull on pure cost; ahead of Robinhood on analytics depth.
- International marketsDirect trading on Hong Kong stocks (HKEX) and mainland China A-shares via the Futu parent — extremely rare among US-domiciled brokers. Fees: 0.03% commission + HK$15 / RMB 15 platform fee per order.
Sub-ratings
- Commissions & fees
- 4.7
- Platforms & tools
- 4.5
- Mobile app
- 4.5
- Research
- 4.0
- Education
- 4.0
- Customer service
- 3.5
- Range of investments
- 3.5
- Active trading
- 4.5
Pricing & fees
Full fee schedule| Category | Item | Price | Notes |
|---|---|---|---|
| Stocks & ETFs | US stock / ETF commission | $0 | — |
| Stocks & ETFs | OTC stocks | $0 | Curated list of ~3,000 US OTC names; real-time OTC quotes require $6.99/mo data add-on |
| Options | Equity options per contract | $0 | No per-leg charge on multi-leg orders (4-leg iron condor: $0) |
| Options | Index options per contract | $0.50 | — |
| Crypto | Crypto trading | Coinbase CaaS pricing | 50+ coins (launched May 2025) |
| Stocks & ETFs | Hong Kong stocks | 0.03% + HK$15 platform fee | — |
| Stocks & ETFs | China A-shares | 0.03% + RMB 15 platform fee | — |
| Margin | Margin rate (all balances) | 6.80% flat | Uniquely competitive at small/mid balances |
PFOF: Does not accept payment for order flow on equities; does not accept PFOF on options. Moomoo Financial itself does not accept PFOF, but its clearing affiliate Futu Clearing "may receive payment for order flow or rebates." Self-reported execution: 96.71% at-or-better than NBBO (industry avg 97.51%).
Margin rates vs. peers
Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.
Asset coverage
- Yes
US stocks (NYSE/Nasdaq)
- Limited
OTC stocks
~3,000 curated US OTC names; real-time quotes require $6.99/mo add-on; broader Pink/Grey universe excluded
- No
Fractional shares
- Yes
Equity options (up to 4-leg)
Multi-leg builder; multi-leg roll; 13 pre-built strategies
- Yes
Index options (SPX, NDX, including 0DTE)
Monday/Wednesday expirations via Jan 2026 NASDAQ partnership
- No
Mutual funds
- Yes
ETFs
Including IPOs
- No
US Treasuries / individual bonds
- No
Forex
- No
Futures
Available on AU/SG/JP/HK Moomoo only — not US
- Yes
Crypto (direct)
50+ coins via Coinbase CaaS partnership (launched May 2025)
- Yes
Hong Kong stocks (HKEX)
Direct trading; 0.03% commission + HK$15 platform fee
- Yes
China A-shares
Direct trading; 0.03% commission + RMB 15 platform fee
- Yes
ADRs
DTC custody fees passed through annually
- No
IRAs (Traditional, Roth, Rollover, SEP, SIMPLE)
Major structural gap; available in Moomoo Canada but not US
- No
Joint / custodial / trust accounts
Individual taxable cash and margin only
- Yes
Pre-market trading
4:00–9:30 a.m. ET
- Yes
After-hours trading
4:00–8:00 p.m. ET
- Yes
24-hour overnight equity trading
Sun 8 PM – Fri 8 PM ET on a curated security list; limit orders only
Platforms & tools
Platform deep-diveDesktop
Moomoo Desktop
- 63 technical indicators + 38 drawing tools + 190+ pre-set functions for custom indicators
- 0.03-second quote refresh; 25+ panel widgets; 90+ hotkey shortcuts
- Free real-time NASDAQ TotalView (60 bid/ask levels) + NYSE OpenBook + CBOE depth
- +3 more — see platform deep-dive
Windows / Mac
- 4.7★ iOS / 34K ratings
Mobile
Moomoo Mobile
- iOS + Android; substantially the same data depth as desktop
- 62 indicators on charts
- Paper trading with up to $1M virtual cash
- +1 more — see platform deep-dive
No slide-to-execute — trade entry takes a few taps
Web
Moomoo Web
- Browser-based access mirroring mobile feature set
Web
Moo AI
- AI-powered analytics, anomaly detection, and stock summarization
- Rolled out across the platform during 2025–2026
API
Public retail API
- Not available to US retail customers
Key capabilities at a glance
- Commission
- $0
- Fractional shares
- Yes
- Extended hours
- Yes
- Overnight (24/5)
- Yes
- Options
- $0
- OTC access
- 0/5 full, 3/5 limited
- Short locate
- limited
OTC market access by tier
OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Moomoo’s coverage:
- OTCQXLimited
- OTCQBLimited
- Pink CurrentLimited
- Pink LimitedNo
- Grey MarketNo
Awards & recognition
- 2026 Best for Day Trading (active trader) — NerdWallet
- 2026 Top broker for advanced trading platforms — BrokerChooser
Recent changes
- product
NASDAQ partnership delivers Monday/Wednesday options expirations
- product
First US broker to offer retail access to SEC-registered blockchain-native shares (e.g. Figure Technology Solutions FGRD)
- regulatory
FINRA $125K fine for LOPR options-reporting failures (4,192 positions in 20,067 instances, June 2019 – March 2023); WSPs updated
- product
Futu Q3 2025: GAAP net income up 143.9% YoY to $413.5M — Futu's strongest quarter on record
- product
Moomoo Crypto launched in US with 30+ coins via Coinbase CaaS partnership (grew to 50+ by year-end)
- regulatory
FINRA $750K fine for failure to supervise ~400 social-media "finfluencers" and Reg S-P privacy-notice failures affecting ~450K customers
- regulatory
Mainland China Futubull app removed from app stores per CSRC rectification order
Frequently asked
- Does Moomoo offer IRAs?
- Not for US clients as of May 2026. Moomoo US offers only individual taxable cash and margin accounts — no Traditional, Roth, Rollover, SEP, SIMPLE, custodial, trust, or 529 accounts. Moomoo Canada does offer TFSA, RRSP, cash, and margin accounts, so the parent has demonstrated capability. The US gap is a deliberate product choice.
- What's Moomoo's margin rate?
- Flat 6.80% across all balances — structurally competitive at small/mid balances since virtually all peers reserve sub-7% rates for very large debit balances. Only IBKR Pro is cheaper at the largest tiers.
- What does the free Level 2 cover?
- NASDAQ TotalView (60 bid/ask levels), NYSE OpenBook, and CBOE depth — all real-time, all free for funded accounts. Webull gates similar depth behind a Premium subscription; Schwab/Fidelity bundle Level 2 into thinkorswim/Active Trader Pro for active traders only.
- Can I trade Hong Kong stocks or China A-shares on Moomoo?
- Yes — direct routing via the Futu parent at 0.03% commission plus a small platform fee per order (HK$15 / RMB 15). This is extremely rare among US-domiciled brokers and one of Moomoo's biggest differentiators for internationally-curious investors.
- Does Moomoo offer 24-hour trading?
- Yes — 24-hour trading (Sunday 8 p.m. – Friday 8 p.m. ET) is available to US users on a curated security list, limit orders only.
- Does Moomoo accept PFOF?
- Moomoo Financial itself does not accept PFOF directly, but its clearing affiliate Futu Clearing "may receive payment for order flow or rebates." Self-reported execution quality is 96.71% at-or-better than NBBO — slightly below the industry average of 97.51%.
- Are there regulatory concerns I should know about?
- Two FINRA actions in the past 18 months: a $750K fine in November 2024 for failing to supervise ~400 social-media "finfluencers" plus Reg S-P privacy-notice failures, and a $125K fine in December 2025 for LOPR options-reporting failures. Both are cured. Parent Futu Holdings (Nasdaq: FUTU) remains under ongoing CSRC pressure in mainland China, but the US entity operates independently.
