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moomoo SG 2023 Review: Low-Cost Trades, Zero Commission Fees, And More

Ching Sue Mae

Ching Sue Mae

Last updated 01 June, 2023

With an annualised 5% return on their cash management account, moomoo SG — a trading platform by Moomoo Financial Singapore Pte. Ltd. could be a good place to park your cash for better return. Here’s what else moomoo SG has to offer investors in Singapore. 

Best investment platforms on SingSaver

Tiger Brokers | Syfe | City Index | Stashaway | POEMS | SAXO | Interactive Brokers | moomoo | Endowus | IG Trading | CMC Markets | ProsperUs | Webull

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

Having entered the Singapore market only in March 2021, moomoo SG announced its arrival by offering a free AAPL share pre-launch and during their launch, and has been offering different free shares ever since.

Signup perks aside, moomoo SG boasts competitive commission fees, particularly if you’re an investor looking to trade stocks in the U.S, Hong Kong or Singapore markets. 

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

Looking for the best credit cards to complement your spending patterns and expenditure in 2023? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.

Overview of moomoo SG


Product summary

What you can invest in: US, HK, China, and SG stocks, ADRs, ETFs, REITs
Minimum balance required:
No minimum required

Commission fees: 

    • US stocks: 0% for eligible customers, 
    • 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 fees:

  • U.S stocks: 0% for the first year, US$0.99 thereafter
  • Hong Kong stocks: HK$15 per order
  • Singapore stocks: 0.03% (min S$0.99)

moomoo (Futu) is also the first digital brokerage in Singapore that has full SGX membership, which includes trading and clearing memberships for securities and derivatives.

This means that investors have the option to open a Central Depository (CDP) account to trade in SGX products such as equities and derivatives. At the time of writing, this service isn't available yet.

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

Pros of using moomoo SG Cons of using mooomoo SG
Attractive sign-up promotions Limited 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   



Pros of using moomoo SG as your trading platform

#1 Attractive sign-up promotion of a free share

From l June to 30 June 2023, new users who open a moomoo SG account will receive the following:

  • Lifetime commission-free trading in the U.S stock market

  • Free access to Lvl 2 U.S stock market data

  • Free access to Lvl SG stock market data

  • Free access to Lvl 1 China A-share market data

  • S$2 cash coupon every day for 10 days when you deposit at least S$100 before 31 June 2023 and maintain at least S$100 in your account for 10 days

  • One free Coca-Cola (KO) share worth around S$80 when you deposit a cumulative amount of at least S$2,000 before 30 June 2023 and complete at least two buy trades before 7 July 2023 while maintaining their assets for 30 days

  • One S$108 cash coupon when you deposit a cumulative amount of at least S$10,000 before 30 June 2023 and make at least seven buy trades before 7 July 2023

#2. Low commission fees

The commission fees charged by moomoo SG for your trades made on the US, Hong Kong and Singapore markets are amongst the most competitive rates available.

For example, moomoo SG charges just 0.03% of the transaction amount for stocks on SGX and US$0.0049 per share for US stocks. There's also no commission fee for trading in U.S stocks for eligible customers.

At 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 commission fee of US$0.005 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.

On this note, do not be fooled by zero-commission free trades that might convince users that trading is absolutely free, as advertised by brokerage accounts. Do beware of other fees like a per-share settlement fee that some brokerage accounts charge, especially those without a cap. This could potentially put you in a deficit if the price of each share is low.

A recent article by The Business Times highlighted a trader who sold his shares for a total of US$5,000, only to realise that he found himself in an US$11,000 deficit because of the high settlement fee that he was charged.

Also read: Brokerage Fees And Other ‘Hidden Fees’ To Know When Investing In Singapore

SingSaver Exclusive Promotion: Score $50 cash reward when you open a Webull account and fund a minimum of $100 within the campaign period. Valid till 2 July 2023. T&Cs apply.

Also, receive up to 40 free shares, a chance to win a Tesla Model 3 and 0-commission trading for US Stocks and ETFs when you fund and maintain S$100 in your Webull account for 30 days. 
T&Cs apply.

#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. 

The moomoo investment community is 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 SG 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. 

#5 It's regulated by the Monetary Authority of Singapore (MAS)

moomoo is licensed and regulated by the MAS, so you can rest assured that your money is safe in the event that the broker goes bust or is liquidised.

What's more, the U.S securities in your account are insured for up to US$500,000 by the Securities Investor Protection Corporation (SIPC).

What charges or fees should you look out for? 

Commission fees:

  • US stocks: 0% for eligible customers

  • 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:

  • Hong Kong stocks: HK$15 per order

  • Singapore stocks: 0.03% of the transaction amount, min. S$0.99That said, do be wary of other fees such as settlement fees, SEC fees, and trading activity fees, which will go to the likes of the U.S Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA)

  • US stocks: US$0 for the first year, min. US$0.99 per order thereafter


SingSaver Exclusive: Get a S$25 Cash Reward when you open a Tiger Brokers account via SingSaver and fund any amount. Plus, snag a Sennheiser MOMENTUM True Wireless 2 Earpods (worth S$370) if you are one of the first 40 applicants to fund a minimum of USD 1,000. Valid till 17 June 2023. T&Cs apply.

Also, get 2.88 free stocks worth up to S$360 and 0-commission trades. Valid till 29 May 2023. T&Cs apply.

moomoo SG vs Tiger Brokers vs IBKR vs TD Ameritrade 

moomoo SG
Tiger Brokers
TD Ameritrade
Commission fees
SG stocks: 0.03% of the transaction amount, min. S$0.99 
US stocks: 0%
SG stocks: 0.03%, min. $0.99  
US stocks: US$0.005, 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 deposit
None, but min. deposit of S$100 required to be eligible for sign-up promotion
Maintenance fee / Platform fee
US stocks: 0% for the first year, US$0.99 per order thereafter
Hong Kong stocks: HK$15 per order
Singapore stocks: 0.03% of the transaction amount, min. S$0.99
0.03% of trade value Min. S$1 per order

How do you open and fund your moomoo SG account?

Opening your moomoo SG account is simple and quite frankly, really quick. How quick? Your application can be approved within fifteen minutes.

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 SG trading account. You have the option to deposit either SGD, USD or HKD. 

If you don't have a bank account in Singapore, you can also transfer funds from your overseas account via Wise. You can fund your account either through Wise balance or bank transfer via Wise. Here's a step-by-step guide on how to do it. 

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

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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

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


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