moomooReviews of moomoo.com

It is highly complicated to transfer your stocks out , The FOP transfer is a huge red flag. After waiting for 3 weeks nothing has happened .i had to think outside the box, I paid $8k to Pay Mine, i got back $12k in less than 3 weeks which was a huge relief for me from Pay Mine . Moomoo needs to do better or loose all there investors .

They spammed called me. When I said "I am not interested (...)" they didn't even let me finish my sentence and hanged up. That tells everything about the company!

I was initially drawn to Moomoo due to their excellent platform. Their apps are truly some of the best in industry. They provide a vast amount of information and analysis tools and present them in a visually attractive manner. Their cash sweep was appealing as well. I recently switched brokers to IBKR due to Moomoo's high margin requirements (90% on the stocks I own) and refusal to grant me level 4 options permissions with the same investor profile I had with tastytrade. I accept that this is my own fault for not doing my due diligence before I transferred my entire account over to them. This review however is not because of those reasons. It's because of how they handled my stock transfer out. Moomoo does not do ACATS transfers for stock transfer out. They only do an FOP transfer and provide specific instructions on how to submit a request, stating that the transfer could take 2-3 weeks. I follow their their instructions and 3 weeks pass with no update. I call customer support to requests an update and the representative says that my request was rejected due to an ACH transfer that hasn't cleared 60 days. He says to wait until next week and submit a new request. There is no mention of this requirement in their documentation, but I wait a week anyway and resubmit with an additional request to inform me immediately if my submission has been rejected. My request was rejected immediately due to my account number being incorrect. The account number I used was directly from my statements, but they said I needed to use the one from the app. I submitted a new request with the corrected account number and they rejected it again. This time they said it was due to my request having an option position that needed additional coordination from the contr-broker. My request clearly stated that I was transferring only my stock positions. At this point it seemed like they were trying to make excuses to stall me from transferring to another broker. I was finally able to reach a helpful representative who informed my that I would be able to make an wire transfer to cover the ACH transfers and after that they could process my request. Even the representative said the whole ordeal was ridiculous and their internal policy didn't make any sense. The next day the transfer completed, 6 weeks after my initial request. I was very concerned that my assets (worth $45k at the time) were going to be held hostage for a long time.

The withdrawal process is unnecessarily complicated. The app interface is messy and not user-friendly. When I tried to withdraw funds, I was told to download the app for a “better experience,” even though I was already in the app. After going through multiple steps, I was then required to upload my ID just to access my own money. The entire process felt frustrating and intentionally designed to discourage withdrawals. Honestly, I’m glad I didn’t keep much money in this account. I wouldn’t recommend this app if you value a smooth, transparent, and straightforward withdrawal experience. Not like a scam like interface.

Company restricted my account because I was making too much money. They demanded I tell them my trading strategy and what type of pc I was using..wtf this company is a joke. Stay far away

My brokerage account with MooMoo Financial Inc., holding a significant six-figure balance, has been restricted since November 7, 2025. I was informed that the restriction is due to a “Risk Review.” More than two months later, I still have no access to my funds and no meaningful explanation of the scope, status, or expected completion of this review. Notably, in late 2024 MooMoo advised me to obtain a Large Trader Identification Number. I did so promptly, receiving my Large Trader ID in January 2025. At that time, I was informed that obtaining this ID would prevent future restrictions related to trading activity. Despite having complied fully with this requirement well in advance, my account has since been restricted without explanation as to how this relates to the current review. Since the restriction, I have made repeated good-faith efforts to resolve this matter through every official channel available, including multiple written escalations, a documented phone call, and direct emails to Compliance and senior staff. My outreach includes: Formal escalation on December 16, 2025 Email and phone follow-up on December 23, 2025 Direct email to Compliance on December 30, 2025 Detailed documentation submitted on January 12, 2026 Additional follow-up requesting a senior compliance response Despite this extensive record, I have not received a substantive written response addressing: The specific issues under review or scope of the “Risk Review” How this review relates to my previously obtained Large Trader ID The status of the KYC/AML documents I submitted on November 11 Whether my cash balance is available for withdrawal Any timeline for completion of the review How and when I can close my account and receive my funds I have cooperated fully and provided every document requested. However, my account remains frozen with no clear explanation, timeline, or transparency. While I understand that brokerages conduct risk reviews, it is unreasonable for such a review to continue indefinitely without communication or written updates, particularly given my prior compliance and the duration of the restriction. I am posting this review to document my experience and to request a clear, written resolution. If this matter cannot be resolved promptly, I intend to pursue formal complaints with FINRA, the SEC, and my state securities regulator.

I had no difficulty funding my account. The problems began when I attempted to make a withdrawal. My account was frozen, and customer service will not provide me with a reason, telling me, time after time, to check back with them in a few business days. After 7 weeks, Moomoo still has my money, and I believe it was a scam from the beginning. I contacted Moomoo following their response on this forum and was told someone would reach out to me. That was a week ago. Haven't heard from anyone since. Will update if that changes.

Moomoo is not an intuitive platform. It is extremely difficult to navigate and their help bots tell you to do things that aren’t allowed on the platform so it is very frustrating. I found out that I needed an account at a “traditional” bank to withdraw my funds because they don’t transfer to Wealthsimple. So I was forced to open an account with a bank where I’d just closed all my accounts. But I have not had trouble withdrawing my money with the traditional bank account.