moomooReviews of moomoo.com

The android app is good. I have used it for more than a year. I have a lower end 5 figure account with moomoo. The problem is their back office people being extremely meddling and disloyal towards their own clients to whom their fiduciary duties supposed to lie. Recently, they cancel all my limited purchase orders because I set orders to buy stocks that I am currently underwater to dollar cost average. They send me an email said that my orders might creat artificial price movements for some billion dollar market cap companies from a 5 figure account. I am not even shorting the stock. I am just buying it in a downward trend to dollar cost average. These people are kissing that a** of big corporations and backstabbing their own clients...

Deposited a significant amount during the 6% promotion, and have received nothing. Not even the base rate promoted, 2 months later. Tried contacting their support, the reception was so bad on the line that I couldnt hear the person. No where in the communication did they make clear that I need to press some specific button to activate the rate. Was hoping to switch my whole portfolio to moo moo from selfwaelth after a creator I respect collaborated with them (money with aims) but now am hard re-considering given the experience with customer service & the bonus rates management.

I've been using MooMoo as one of my active trading accounts, and the execution speed and interface are genuinely good — that's not the issue. The problem is that MooMoo restricts opening new positions on a huge share of the volatile, thin-float stocks I actually trade, with orders returning "Order error: you can only close positions for this security. Opening new positions is not supported." This isn't occasional. On one trading day, I attempted to buy into 6 different tickers and was blocked on every single one except one — a 10-for-13 block rate on buy orders that day alone, all on legitimate, actively-trading NASDAQ-listed stocks, not obscure OTC names. I contacted a MooMoo rep who had reached out to me when I opened the account and offered to help with any issues — he never responded. Their AI support essentially told me this is just how it is, with no explanation of what triggers the restriction or whether there's any way around it. For a platform marketed at active/momentum traders, being unable to open positions in the exact stocks that are moving is a major limitation. I understand brokers sometimes restrict extremely volatile names for risk reasons, but the frequency and lack of transparency here made the account nearly unusable for my strategy. I ended up having to run a second brokerage account in parallel just to take the trades MooMoo wouldn't let me enter. If you're a scalper or momentum trader relying on volatile small/mid-cap names, be aware you may find yourself locked out of a large percentage of your target trades with no clear criteria and no real support response.

I asked by email where my funds are no reply to date

Specifically joined moomoo in New Zealand to Trade with TradingView and I couldn’t trade a TradingView so it was a waste of my time

Wouldn’t let me do covered call on plainer late 2024 which would have been a 14k winner. Now Moomoo will not let me trade small caps except Chinese stocks and now doesn’t even display them on premarket or post market scanner, very poor platform.

The Moomoo platform has repeatedly let me down by locking me out of trading 03329 due to “restrictions”, while I continue to trade same stocks in parallel on Tiger. This is totally unacceptable and destroys confidence in your platform. Last chance Moomoo!

Total scam don’t waist your money