moomoo Review: Low Cost Trades And A Free S$200 Cash Coupon

moomoo Review: Low Cost Trades, An iPhone 13, S$200 Stock Coupons, And More

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The free Apple share has almost become the defining feature of moomoo — a trading platform by Futu SG. Here’s what else moomoo has to offer investors in Singapore. 

moomoo is a trading platform that is a subsidiary of NASDAQ-listed Futu Holdings, a company backed by Tencent. 

Having entered the Singapore market only in March 2021, moomoo by Futu SG announced its arrival by offering a free AAPL share pre-launch and during their launch, and have been offering different free shares ever since. Signup perks aside, moomoo boasts competitive commission fees, particularly if you’re an investor looking to trade stocks on the US, Hong Kong or Singapore markets. 

Before you jump on the bandwagon and open a moomoo trading account, here’s what you’ll need to know.  

Overview of moomoo

Product summary:

  • What you can invest in: US, HK and SG stocks, ADRs, ETFs, RETIs 
  • Minimum balance required: No minimum required. However, you’ll have to deposit S$2,700, US$2,000 or HK$16,000 in order to enjoy the free S$200 cash coupon.
  • Commission fees: 
    • US stocks: US$0.0049 per share, min. US$0.99 per order
    • Hong Kong stocks: 0.03% of the investment amount or HK$3, whichever is higher
    • Singapore stocks: 0.03% of the transaction amount, min. S$0.99

Here are the pros and cons of using moomoo for your investment and trading needs.

Pros of using moomooCons of using mooomoo
Attractive sign-up promotionsLimited to the US, HK and Singapore markets
Low minimum commission fee (US$0.99 for US stocks, HK$3 for HK stocks and S$0.99 for SG stocks)Incur a platform fee 
Join a global investment community 
A host of useful trading tools at your disposal 

Why use moomoo as your trading platform?

#1 Attractive sign-up promotion of a free Apple share

From 2 October 2021 to 1 November 2021, a S$200 stock cash coupon bundle when you deposit S$2,700 into your new moomoo account.

The biggest draw of moomoo since they entered Singapore, is the free Apple share that you stand to receive. However, the requirements to earn your free Apple share have been made slightly more difficult, requiring you to deposit S$50,000 to S$99,000 in your new moomoo account to be eligible.

However, with the S$200 stock cash coupon, you can still use this coupon to offset your purchase of any other shares, be it Apple, Tesla, PayPal, Twitter or other big names.

On top of the cash coupon, you can also enjoy 180 days of commission-free trading for the US, HK and SG stock market as soon as you register for a moomoo ID. Once you’ve opened a FUTU SG Securities Account, you’ll also receive access to Level 2 Market Data for the US stock market and Level 1 Market Data for the SG stock market and China A Shares market.

#2 Low commission fees

The commission fees charged by moomoo for your trades made on the US, Hong Kong and Singapore market are amongst the most competitive rates available. For example, moomoo charges just 0.03% of the transaction amount for stocks on SGX and US$0.0049 per share for US stocks.

At US$0.99 for US stocks, HK$3 for HK stocks and S$0.99 for SG stocks, the minimum commission fee required is also low – even more so than the likes of Tiger Brokers and Interactive Brokers (IBKR). Tiger Brokers charges a minimum fee of US$1.99 per trade for US equities, while IBKR charges a minimum of US$1 per order for US stocks and S$2.50 for Singapore stocks.

#3 Join a global investment community 

Analyse the latest trending stocks with like-minded traders and investors. You can share your trade ideas, check out what others are discussing and get exposed to other stocks that have gone under your radar. 

Here’s a look of what this investment community looks like — almost reminiscent of a social media platform like Facebook or Instagram where you can leave likes and comments, and follow the discussion thread. 

#4 A host of tools at your disposal

With one moomoo app at hand, you can easily find popular stocks and the hottest industries to sink your money in. It can screen by market cap, percentage change, turnover, trade volume, P/E and more.

You also have the option to find stocks based on financial metrics such as net profit growth and debt asset ratio, or technical metrics such as MACD, RSI, BOLL and more. 

The app also keeps you updated with the latest news that could affect your trades. This news is sorted by topics, time stamps, whether the stock in focus is on your watchlist, and by categories like earnings and IPOs. 

For whom is moomoo best for?

If you have at least S$2,700 sitting around, why not use that to earn yourself a S$200 cash coupon? That’s a S$200 in your pocket, albeit in the form of stocks when you use it to offset a stock purchase.

It’s also made for investors looking to trade stocks in the US, Hong Kong or Singapore markets, at a very affordable cost.

Lastly, moomoo offers similar value propositions to trading platforms such as Tiger Brokers and IBKR. If you’re looking for an alternative, or simply an app that offers low cost trades, now’s the best time to take advantage of this generous signup promotion.

What charges or fees should you look out for? 

Commission fees:

  • US stocks: US$0.0049 per share, min. US$0.99 per order
  • Hong Kong stocks: 0.03% of the investment amount or HK$3, whichever is higher
  • Singapore stocks: 0.03% of the transaction amount, min. S$0.99

Platform fee: 

  • US stocks: US$0.005 per share, min. US1 per order
  • Hong Kong stocks: HK$15 per order
  • Singapore stocks: 0.03% of the transaction amount, min. S$1.50

What are the promotions available for moomoo?

Amongst all the trading platforms, moomoo is currently offering the most attractive promotion. 

Upon successful opening of a Futu SG securities account, you’ll enjoy: 

  • 180 days commission-free trading 
  • Free Level 2 market data for US market 
  • Free Level 1 market data in the SG stock market 

Once you fund your account with S$2,700, US$2,000, HK$16,000 or more between 2 October to 1 November 2021, you’ll be rewarded with:

  • S$200 stock cash coupon bundle

If you transfer S$50,000 to S$99,999 worth of shares to your moomoo account from another online brokerage:

  • One free Apple share

Bump this figure up to more than S$200,000 worth of shares and you’ll get either an iPhone 13 (256GB) or three free Apple shares.

Applicants who transfer in S$100,000 to S$199,999 worth of shares are rewarded as well. To be precise, it’s two Apple shares.

Don’t worry if you already have a Futu SG account, you can still get rewarded when you refer your friend to sign up. 

For each successful referral, you’ll receive a S$100 stock cash coupon, up to S$2,000 stock cash coupons per account (20 referrals) are available to be redeemed. Do keep in mind that the person referred will have to make a deposit of S$2,700, US$2,000 or HK$16,000 in order for your referral to be successful. 

moomoo vs Tiger Brokers vs IBKR vs TD Ameritrade 


moomooTiger BrokersIBKRTD Ameritrade
Commission feesSG stocks: 0.03% of the transaction amount, min. S$0.99 

US stocks: US$0.0049 per share, min. US$0.99 per order
SG stocks: 0.08%, min. $2.88 per order is currently waived 

US stocks: US$0.01, min. US$1.99 per trade
SG stocks: 0.08% of trade value, min. $2.50 per order 

US stocks: US$0.005 per share, min. US$1 per order 
$0 (for US exchange-listed stocks, ETFs and option trades) 
Minimum depositNone, but min. deposit of S$2,700, US$2,000 or HK$16,000 required to be eligible for sign-up promotionNoneNoneNone
Maintenance fee / Platform feeUS stocks: US$0.005 per share, min. US1 per order

Hong Kong stocks: HK$15 per order

Singapore stocks: 0.03% of the transaction amount, min. S$1.50
NoneUp to US$10 per month (less commission paid that month)None

How do you open and fund your moomoo account?

Opening your Futu SG account is simple and quite frankly, really quick. Your application can be approved within fifteen minutes. Just check out the screenshot below! 

Like many other investment platforms, you can speed up the application process by using MyInfo to help you pre-fill the relevant personal details required.

Finally, a FAST transfer is all that’s needed for you to deposit money into your moomoo trading account. You have the option to deposit either SGD, USD or HKD. 

If you’re still unsure if moomoo is for you, check out this article for the best brokerage accounts in Singapore

Read these next:
Tiger Brokers Review: Low Commissions And Attractive Sign-Up Promotions
Interactive Brokers (IBKR) Review: Pros, Cons and Why They’re So Popular
Best Brokerage Accounts To Start Your Investment Journey In Singapore
Investing In Exchange Traded Funds (ETFs): A Newbie’s Guide To Getting Started
Best Robo Advisors To Auto-Pilot Your Investments In Singapore


By Ching Sue Mae
A flat white, an adventure-filled travel and a good workout is her fuel. This Manchester United fan enjoys sharing knowledge on personal finance while chasing the dream of financial independence.