What Account Types and Fees Does Moomoo Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
No minimum deposit, commission-free trading for stocks and ETFs |
Ideal for new traders looking to explore the market |
| Professional Account |
Experienced traders |
Access to advanced trading tools, higher leverage |
Requires proof of trading experience and trading volume |
| Corporate Account |
Corporate clients |
Custom services, multi-user access |
Requires corporate documentation and verification |
| Islamic Account |
Traders following Islamic finance principles |
Swap-free trading options |
Verification needed to access Islamic account terms |
| Demo Account |
All traders |
Practice trading with virtual funds |
Useful for testing strategies without financial risk |
Account Opening Process
To open an account with Moomoo, users need to follow a straightforward process. First, individuals must provide their personal information, including name, date of birth, and contact details. Next, employment information is submitted, which may include job title and income. Financial information is also required, detailing assets, liabilities, and trading experience.
An important step in the process is identity verification. Traders will need to upload documents such as a government-issued ID and proof of address, ensuring compliance with regulatory standards.
Moomoo also offers account flexibility, allowing users to upgrade to a professional account as their trading experience and volume increase.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive for minor pairs |
| CFDs (Stocks) |
0.1% |
$0.99 per order |
Commission-free for the first year in Singapore |
| CFDs (Indices) |
0.2% |
$0.99 per order |
Varies by index |
| CFDs (Commodities) |
0.3% |
$0.99 per order |
Standard rates apply |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
Moomoo has several other fees that traders should be aware of:
– Deposit/Withdrawal Fees: Generally, there are no direct fees for deposits. However, withdrawal fees may apply depending on the method and currency used.
– Inactivity Fees: Accounts that remain inactive for an extended period may incur inactivity fees.
– Platform Usage Fees: Some trading platforms may charge a nominal fee per order.
– Overnight Interest (Swap Rates): Applicable on positions held overnight, depending on the account type.
– Currency Conversion Fees: Fees may apply when trading in different currencies, especially for forex transactions.
