Moomoo is a trading platform backed by Futu Holdings — a Nasdaq-listed financial services group. Launched in Australia in 2022, Moomoo offers commission-free ASX and US share trading combined with an unusually rich set of charting, data, and research tools for a retail platform. It has quickly built a user base among active and data-focused investors.
Moomoo at a Glance
| Feature | Detail |
|---|---|
| ASX brokerage | $0 commission (platform fee may apply) |
| US shares brokerage | $0 commission |
| Monthly fee | $0 (standard) |
| CHESS sponsored | No — custodian model |
| Minimum investment | $1 (ASX); $1 (US) |
| Fractional shares | No (ASX); Limited (US) |
| Auto-invest | No |
| Advanced charting | Yes — extensive tools |
| Market data | Yes — real-time ASX and US data |
| Mobile app | Yes |
| Paper trading | Yes |
Commission-Free Model
Moomoo’s headline offering is $0 commission on ASX and US trades. This is among the most competitive brokerage structures available in Australia. However, investors should review all applicable fees — including:
- Platform fees: Moomoo may charge a small platform fee per trade or currency conversion fees
- FX conversion: AUD-to-USD conversion carries a spread
- Margin interest: If using margin facilities
Investors should verify current fee schedules directly with Moomoo as fee structures can evolve.
Research and Charting Tools
Moomoo’s research offering is notably comprehensive for a retail platform:
- Real-time ASX and US market data (usually paywalled at other brokers)
- Full-featured charting with 60+ technical indicators
- Financial statements and earnings data
- Short-selling data and institutional holding disclosures
- Options chain (US markets)
- News and analyst ratings integration
This makes Moomoo popular with active and technically focused investors who would otherwise pay for separate charting software.
Custodian Model
Moomoo uses a custodian structure for ASX holdings — shares are not CHESS sponsored in the investor’s own name. This means shares are held by Moomoo’s custodian on behalf of investors. See CHESS vs Custodian.
Investors prioritising CHESS sponsorship may prefer CommSec, SelfWealth, Superhero, or Pearler.
Moomoo Pros and Cons
Pros
- Commission-free ASX and US trading
- Outstanding charting and market data tools
- Real-time market data included at no extra cost
- Paper trading for practice
- Large, active community
Cons
- Custodian model — not CHESS sponsored
- Backed by international parent (Futu, China-listed subsidiary)
- No auto-invest / DCA scheduling
- Complex interface may overwhelm beginners
- No CHESS HIN for ASX holdings
Who Is Moomoo Best For?
Moomoo suits:
- Active or data-driven investors who want professional-grade charting tools
- Investors comfortable with a custodian model
- Investors who want commission-free trading with high-quality research at no extra cost
- Those who want to learn with paper trading
CHESS-priority investors, beginners seeking simplicity, or passive ETF investors may prefer Superhero, Pearler, or SelfWealth.
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- CHESS vs Custodian Explained
- Brokerage Fees Comparison Australia
- Best Broker for ASX Shares
- Best Broker for International Shares
- Share Trading Platforms hub
Frequently Asked Questions
Is Moomoo regulated in Australia? Moomoo’s Australian operations are conducted through Futu Securities (Australia) Pty Ltd, which holds an AFSL regulated by ASIC. Client funds are held in trust accounts separate from the company’s own assets.
Is Moomoo CHESS sponsored? No. Moomoo uses a custodian model for ASX holdings. Shares are not registered in the investor’s name via CHESS.
Is Moomoo suitable for beginners? The platform’s depth of data and charting tools can be overwhelming for beginners. Simpler platforms like CommSec Pocket, Superhero, or Pearler may be more appropriate for new investors.
This article provides general financial information only. Moomoo fees and features described are as of the date of publication and may have changed. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.