Moomoo is fast becoming the investment app for experienced and inexperienced brokers alike. The real kicker to using Moomoo as an investment app is that you will have access to Level 2 data (market data) on the US Market and Level 1 data on both the SG and China A-shares Markets the moment you open your account. Not to mention that you will receive this data for free!
Level 1 data is the best bid and asking price for shares available on the trading market, while level 2 also includes the market depth of what potential competitors have bid on the NASDAQ for the shares you are interested in trading with.
Moomoo is a serious competitor as far as investment apps go, and although it is a relatively new company, Moomoo is having a massive impact on markets. Here are the benefits you will get from using Moomoo as an investment platform:
As a bonus, Moomoo is allowing you to earn free stocks! A little goes a long way, and by opening an account, depositing $2700, and successfully completing 5 trades, you get a free Apple share worth $200!
Practice makes perfect
Using your own money or any money to invest in stocks can be scary. Not everybody is ready to dive right into investing in stocks. Moomoo knows this and has come up with features to help ease newcomers into the transactions.
This feature is called "Paper Trading," which is equivalent to using a digital type of Monopoly money. It uses virtual money in your demo account, and you can then practice trading stock and learn how to use different trading strategies with a 'stock trading simulator.'
This way, you can be more confident and knowledgeable when trading and investing in stock in real-time and with real money.
No commission fee for the first 180 days
When you use the Moomoo app, you pay no commission fees whether you are buying, selling, or trading more than 5,000 different ETFs and stock for the first 180 days. This includes allowing you to do "short-sell" stocks that are in margin accounts. You can even dip your toes into the world of investing and learn the tools of the trade at no expense to you by using the "Paper Trading" feature of the platform. This feature allows you to trade using a digitalized version of Monopoly money.
You can even buy bonds, including US Treasury bonds, municipal and corporate bonds!
Learning about how to trade and make money as you learn is only a few of the benefits you get from using Moomoo.
You also get the following security and data benefits from using Moomoo:
Moomoo gives you a world of information at the tips of your fingers. Whether you're using a phone, tablet, or laptop, this app works on them all.
You will have access to a wide range of information, such as financial statements and statements of profit and loss for each publicly trading company you have an interest in.
You can use this information to do in-depth research and analyze the data using different technical indicators, and allowing you to make decisions from the best-informed position possible.
You can arrange the information you use in a way that makes sense to you. Customizing your data has never been easier. Moomoo allows you to chart your data how you like and when you want to provide you with an array of options.
Use your personal preferences and chart to your heart's content, whether you use line graphs, bar graphs, or pie charts. Moomoo has them all.
Now onto the most important questions of all:
Is Moomoo a safe app to use?
In short - yes. Moomoo is based in Singapore and is primarily regulated by the MAS - the overall regulator and supervisor of the financial industry in the Singapore market. It also gets regulated by SEC (Securities Exchange Commission) and FINRA (the Financial Industry Regulatory Authority), as well as being guided by the SIPC (Securities Investor Protection Corporation) policies. What this means is that legit authorities regulate your information while keeping it protected.
Futu Holdings, the parent company of Moomoo, is listed on NASDAQ and has investors like Tencent. It is one of the biggest Chinese brokerage companies on the market today, which makes the extension of Futu into Moomoo an untapped market for you to dive into.
The brokerage that Moomoo performs is also regulated by MAS, as Futu Singapore (Pty) Ltd is a capital market services license holder (Licence Number: CMS101000). So you can rest assured that your trading and brokering is performed by a lawful investment and trading company.
This app is genuine and has to abide by legal regulations. So, in addition to being fast-acting and secured with a strong network and cybersecurity framework, you can rest easy knowing that a real company is handling your money and your stocks.
Moomoo also insures up to $500 000 in terms of the securities and cash of your investment portfolio. This means that you are insured for that amount should anything go wrong. i.e., should someone hack your account, Moomoo's got your back!
Moomoo has a physical office located at 160 Robinson Rd, #25-07 SBF Centre, Singapore 068914.
There are many more benefits to working with and using Moomoo, but you don't have to take somebody else's word for it - try it out yourself and get your $200 sign up reward today!