moomoo is a mobile-first brokerage run by Moomoo Financial Singapore Pte. Ltd., a Monetary Authority of Singapore licensed firm (CMS Licence CMS101000). It pulls beginners in with a free trading year and free-share promos, then most accounts settle into a steady-state cost: zero commission on US stocks but a US$0.99 platform fee per order, and a 0.03% commission on SGX stocks once year one lapses. The promos are real, but they expire, and the headline 'zero commission' never meant zero cost. This 2026 review separates the marketing from the numbers you will pay in month thirteen, covers CDP linkage, Cash Plus yields, and how moomoo stacks up against the other low-cost brokers Singapore investors actually shortlist.
moomoo is the trading app; the licensed broker behind it in Singapore is Moomoo Financial Singapore Pte. Ltd., a subsidiary of Nasdaq-listed Futu Holdings. It holds a MAS Capital Markets Services Licence (CMS101000), a Major Payment Institution Licence (PS20200617) and exempt financial adviser status, with a registered office at Marina Bay Financial Centre Tower 2.
The pitch is one app for global markets: SGX, US, Hong Kong and China A-shares, plus ETFs, US options, futures, money market funds, and a built-in research layer with real-time data, screeners and paper trading. For a first brokerage, that breadth plus a low entry cost is the draw. The cost only matters once the free year runs out, which is the part the ads skip past.
If you are still deciding whether to buy individual stocks at all, our guide to starting investing in Singapore walks through the broker-versus-robo-versus-ETF decision before you commit to any platform.
moomoo markets 'zero commission' loudly. The honest version is that commission and platform fee are two separate line items, and the free promos cover the commission, not always the platform fee. Here is the steady-state pricing once new-user promos expire, as listed on moomoo's official Singapore pricing page (verified June 2026). Treat exchange, regulatory and third-party charges as extra on top.
The pattern that bites beginners: US stocks stay commission-free for life, but the platform fee reverts to US$0.99 per order after your first year. On a S$500 trade that is roughly a 0.2% drag each way; on a S$5,000 trade it is negligible. SGX is the opposite shape, with commission appearing in year two.
| Market | Commission | Platform fee | Minimum |
|---|---|---|---|
| US stocks & ETFs | US$0 (lifetime) | US$0.99 per order | US$0.99 |
| SGX stocks (year 1) | 0% | 0.03% | S$0.99 |
| SGX stocks (year 2+) | 0.03% | 0.03% | ~S$1.98 |
| Hong Kong stocks | 0.03% | HK$15 + HK$3 plus exchange fees | ~HK$18 |
| China A-shares | 0.03% | Exchange fees apply | 18 CNH |
| US options | US$0.65 per contract | US$0.30 per contract | ~US$2.98 per order |
| Funds / Cash Plus | S$0 subscription | S$0 redemption | None |
New users get one year of free SGX commission and one year of free US platform fee. Plenty of people open an account for a promo, trade twice, then forget. Twelve months later the same US trade quietly costs US$0.99 and the same SGX trade picks up a 0.03% commission. Cost itself is small; the surprise is the issue. Diarise your account anniversary so the fee change is a decision, not an ambush.
By default moomoo holds your SGX shares in a custodian account under its nominee, which is cheaper but means the shares sit under moomoo's name, not yours. moomoo also supports linking to your Central Depository (CDP) account so SGX trades settle directly into shares registered in your own name, the same model traditional brokers use.
Custodian is cheaper and fine for most; CDP gives you direct legal ownership, your own dividends and AGM rights, and removes platform-transfer risk if you ever leave the broker. The trade-off is cost: CDP-linked SGX trades on moomoo carry a higher minimum, around S$4.99 commission (or 0.10% of trade value) plus a clearing fee, versus the custodian route's S$0.99 minimum. If you are new to how CDP works, see our CDP glossary entry and the step-by-step guide to opening a CDP and brokerage account.
Rule of thumb: trade US stocks on moomoo's custodian model where it shines on cost, and decide CDP-versus-custodian for SGX based on whether direct ownership matters to you more than saving a few dollars per trade.
moomoo Cash Plus parks your uninvested cash in money market funds with zero subscription and zero redemption fees, so funds keep earning while you wait to deploy them. Yields track short-term Singapore and US money market rates and move with central bank policy, so any figure you see quoted is a snapshot, not a promise. Always read the live yield in the app on the day, since money market fund returns are variable and after-fee.
Cash Plus is a parking spot, not a savings account: it is a fund, its value can move, and it sits separately from a deposit covered by the Singapore Deposit Insurance scheme. If you want a like-for-like comparison against fixed deposits and T-bills for cash you are not investing, our SSB vs T-bill vs fixed deposit comparison lays out the trade-offs, and the fixed deposit vs investing calculator shows what the same cash does invested versus parked.
moomoo Financial Singapore is MAS-licensed and required to keep client money and assets segregated from the firm's own funds, the standard protection structure for a Singapore broker. That means if the firm itself failed, segregated client assets are not part of the firm's pool of creditors.
What it does not mean: there is no government compensation scheme for investment losses, and the Singapore Deposit Insurance Corporation cover up to S$100,000 applies to bank deposits, not to brokerage holdings or money market funds. Stocks you buy carry full market risk, and the SDIC scheme does not cover them. US shares held via moomoo's US affiliate may fall under SIPC protection (up to US$500,000, including US$250,000 cash) in the event of broker failure, which is custody protection against the broker collapsing, not against your stock going down.
Net: moomoo is a legitimate, regulated broker, not a fly-by-night app. Your real risk is the investments you choose, which is why position sizing and diversification matter far more than the broker logo. Check the broader picture with our financial health calculator before you size into single stocks.
Beginners rarely choose moomoo in isolation; they weigh it against Tiger Brokers, Webull, Interactive Brokers and the bank-linked platforms. moomoo's edge is the app experience and the promo-driven low entry cost. Interactive Brokers wins on raw fee floor and breadth for larger or more active portfolios but has a steeper interface. Read our Interactive Brokers Singapore review if you trade size or want the widest market access.
Where moomoo fits: a first or second brokerage for someone who trades US and SGX stocks and ETFs in modest size, values a clean mobile app and research tools, and will actually use the paper-trading and screeners. If you would rather not pick stocks at all, a robo-advisor or a single ETF may beat any brokerage on effort, which our robo-advisor vs DIY ETF comparison breaks down.
moomoo's welcome rewards rotate constantly. As of June 2026 the running offer pairs a free-share reward (such as a fractional SpaceX or NVDA share) and trading cash coupons against a deposit-and-hold requirement, often around S$3,000 held for a set window, plus a separate site-exclusive cash or voucher reward via referral platforms. Every one of these has changed before, so the only numbers that count are the ones on moomoo's official promo page on the day you sign up.
Read the fine print for three things: the minimum deposit and how long it must stay, whether free shares vest immediately or only after holding, and the cut-off date. A 'free' S$30 share that requires S$3,000 locked for two months is a reward on your idle cash, not free money, so weigh it against what that S$3,000 would earn elsewhere. Never deposit more than you intended to invest just to chase a promo.
Not permanently. US stock commission is genuinely S$0 for life, but a US$0.99 per-order platform fee returns after your first year, and SGX trades pick up a 0.03% commission in year two. Exchange and regulatory third-party fees always apply on top, so 'free' means low-cost, not zero-cost.
Yes. Moomoo Financial Singapore Pte. Ltd. holds a MAS Capital Markets Services Licence (CMS101000) and must segregate client assets from its own. There is no government scheme covering investment losses, though, and SDIC deposit insurance does not apply to brokerage holdings or money market funds.
Yes. moomoo lets you link your CDP account so SGX shares are held in your own name, or use its cheaper custodian model. CDP-linked trades cost more per order (around S$4.99 minimum versus S$0.99) but give you direct legal ownership and your own dividends and voting rights.
moomoo suits beginners who want a polished mobile app, low entry cost and US plus SGX focus. Interactive Brokers has a lower fee floor and wider market access for larger or more active portfolios but a steeper learning curve. Match the broker to your trade size and how often you trade.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.