Our Moomoo Canada Review 2025: 4.5/5

author-profile-picture
Nishadh Mohammed updated on January 29, 2025

verified information

Moomoo: A Summary

  • Commission-Free Trading: Moomoo offers commission-free trading on stocks and ETFs for Canadian traders, making it highly cost-effective compared to many brokers that charge flat fees or percentage-based commissions.
  • Advanced Trading Tools: The platform features robust trading tools, including free Level 2 market data, advanced charting, and in-depth analytics, which are typically behind paywalls with other brokers.
  • Educational Resources: Moomoo provides a wide array of educational content and tutorials, which are particularly useful for beginner traders looking to improve their knowledge.
  • Comprehensive Mobile Experience: The Moomoo app delivers an intuitive and highly functional experience, allowing traders to manage their portfolios and execute trades seamlessly from their mobile devices.
  • Low Minimum Deposit: With no significant account minimums, Moomoo is accessible to traders at all levels, including beginners who may not have large amounts of capital.
  • Paper Trading Feature: The platform includes a robust paper trading feature, allowing users to simulate trades in a risk-free environment to refine their strategies.
  • Limited Asset Classes: While Moomoo excels in stock and ETF trading, it lacks access to other asset classes like mutual funds, bonds, or forex, which are available through many competitors.
  • No Access to RRSP or TFSA Accounts: Canadian traders cannot open Registered Retirement Savings Plans (RRSPs) or Tax-Free Savings Accounts (TFSAs), limiting its appeal for long-term investors focused on tax-advantaged savings.
  • No Copy Trading: Unlike some competitors, Moomoo does not offer a social or copy trading feature, which could be a drawback for traders who prefer following the strategies of more experienced investors.
Table of Contents
  • Moomoo in Brief
  • Our opinion of Moomoo
  • What types of accounts are available with Moomoo in Canada?
  • Deposits and withdrawals at Moomoo: How does it work?
  • Does Moomoo offer copy trading?
  • What is the tax treatment of income generated by Moomoo?
  • Contact: How do I contact Moomoo customer service?
  • FAQs
icon

Why trust Hellosafe?

HelloSafe is an expert in financial products, advising more than a million users every month. Our experts have tested the services of dozens of brokers around the world, opening accounts and carrying out real transactions. Discover our full analysis of this platform.

Moomoo in Brief

FeatureDetails
💰 Minimum Deposit$0 (No minimum amount required to open an account)
📜 RegulationsRegulated by FINRA and SEC (United States)
OSC, BCSC, and ASC RegistrationYes
📊 Available AssetsStocks (6,000+), ETFs (1,000+), Options (500+)
⚙️ Trading ToolsMoomoo App, Desktop Platform, Web Platform
🧪 Demo AccountAvailable
🤝 Copy TradingNot available
🌙 Islamic TradingNot available
⚖️ Leverage1:4 for day trading, 1:2 for overnight trading
💵 Fees$0 commission on stocks/ETFs, $0.65 per options contract
📞 Customer SupportAvailable via phone, email, and live chat
Trustpilot Verified Reviews3.2/5 based on 144 reviews
Key features of Moomoo Canada
💰 Minimum Deposit
Details
$0 (No minimum amount required to open an account)
📜 Regulations
Details
Regulated by FINRA and SEC (United States)
OSC, BCSC, and ASC Registration
Details
Yes
📊 Available Assets
Details
Stocks (6,000+), ETFs (1,000+), Options (500+)
⚙️ Trading Tools
Details
Moomoo App, Desktop Platform, Web Platform
🧪 Demo Account
Details
Available
🤝 Copy Trading
Details
Not available
🌙 Islamic Trading
Details
Not available
⚖️ Leverage
Details
1:4 for day trading, 1:2 for overnight trading
💵 Fees
Details
$0 commission on stocks/ETFs, $0.65 per options contract
📞 Customer Support
Details
Available via phone, email, and live chat
Trustpilot Verified Reviews
Details
3.2/5 based on 144 reviews

Our opinion of Moomoo

We particularly liked Moomoo's commission-free trading for stocks and ETFs, as this feature stands out among competitors and makes it highly attractive for cost-conscious traders. The advanced trading tools, including free Level 2 market data and customizable charts, are remarkable and cater to traders who rely on technical analysis. The mobile app, in particular, impressed us with its sleek design and intuitive interface, allowing trades to be executed seamlessly on the go.

We would have liked to see greater diversity in the asset classes offered, as Moomoo is currently limited to stocks, ETFs, and options, which may not appeal to traders looking for a broader portfolio.

Furthermore, the lack of access to RRSP and TFSA accounts is a notable drawback for Canadian investors focused on long-term, tax-advantaged investing. While the educational content is excellent for beginners, some might find the complexity of the trading tools overwhelming at first.

icon

Who is Moomoo designed for?

Moomoo is best suited to active traders who prioritize low fees, robust trading tools, and a user-friendly mobile experience, particularly those focused on U.S. and Canadian equities. Let's find out more about our test results.

Trade now with Moomoo: Simple, smart, powerfulStart Investing

Let's find out more about our test results.

Security and reliability 4.5/5

Moomoo, launched in 2018, is a relatively new entrant to the brokerage space but has quickly gained traction due to its competitive pricing and powerful trading tools. Operated by Futu Holdings, a NASDAQ-listed company, Moomoo boasts over 20 million users worldwide. Its reputation is bolstered by a growing presence in global markets and several accolades, including recognition for its innovative mobile trading platform.

For Canadian traders, Moomoo is a reliable option. It is regulated by top-tier authorities, including the U.S. SEC and FINRA, ensuring compliance with stringent international standards. Additionally, Moomoo is registered with the Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC), and the Alberta Securities Commission (ASC), providing Canadian users with a solid regulatory foundation.

Moomoo also offers features to help traders control risk, including customizable alerts, portfolio risk analysis tools, and access to Level 2 market data for better decision-making. These features enhance transparency and allow traders to better manage their positions in volatile markets.

Market and asset diversity 3.5/5

Moomoo positions itself as a modern and competitive broker, offering a solid selection of stocks, ETFs, and options, primarily catering to active traders and investors focused on U.S. and Canadian markets.

While it excels in providing direct access to equities and ETFs with commission-free trading, the broker does not offer access to more diverse asset classes like mutual funds, forex, or cryptocurrencies. Compared to its competitors, Moomoo delivers an impressive platform for equity traders but may not fully satisfy those looking for broader asset exposure.

Below is a detailed breakdown of the assets offered by Moomoo:

AssetsTypeNumberMarket Average
StocksDirect6,000+~5,000
ETFsDirect1,000+~1,000
OptionsDirect500+~200-300
Mutual FundsNot AvailableN/A~1,000
ForexNot AvailableN/A~50 pairs
CryptocurrenciesNot AvailableN/A~20
CommoditiesNot AvailableN/A~10
Moomoo assets and market diversity
Stocks
Type
Direct
Number
6,000+
Market Average
~5,000
ETFs
Type
Direct
Number
1,000+
Market Average
~1,000
Options
Type
Direct
Number
500+
Market Average
~200-300
Mutual Funds
Type
Not Available
Number
N/A
Market Average
~1,000
Forex
Type
Not Available
Number
N/A
Market Average
~50 pairs
Cryptocurrencies
Type
Not Available
Number
N/A
Market Average
~20
Commodities
Type
Not Available
Number
N/A
Market Average
~10
icon

Our opinion on Moomoo Canada's offerings

Moomoo shines in its offering of direct equities and options, providing quantities that often exceed the market average. However, the absence of forex, mutual funds, and cryptocurrencies limits its appeal to traders seeking more diverse investment opportunities. This makes Moomoo a better fit for equity-focused traders rather than those looking to build a multi-asset portfolio.

Platforms and tools 4.5/5

Moomoo provides an impressive suite of platforms designed for both beginner and experienced traders. These include a mobile app, a desktop platform, and a web-based platform, all of which are seamlessly integrated to ensure consistency across devices. The platforms are packed with advanced features and tools, making Moomoo particularly appealing to active traders and those who rely on technical analysis.

Platforms available at Moomoo Canada

  • The mobile app is a standout, offering an intuitive interface and a wide range of capabilities. It includes advanced charting tools with multiple indicators, customizable layouts, and real-time Level 2 market data, typically a premium feature on other platforms.
  • The desktop platform mirrors this functionality with added customization options, including multi-screen support and a more in-depth analysis toolkit for serious traders.
  • The web platform, while slightly less advanced than the desktop version, still provides a robust trading experience with essential tools and analytics.

Analysis and decision support tools

Moomoo excels in providing decision aids and order types. It offers tools such as:

  • Smart Alerts: Customizable notifications for price movements, volume changes, or news updates.
  • Heat Maps: Visual representations of market performance to quickly identify trends and opportunities.
  • Market Sentiment Indicators: Gauges public trading sentiment, helping traders align their strategies with broader market trends.
  • Advanced Order Types: Includes limit orders, stop-loss orders, and trailing stops, giving users more control over their trades.

Fees, spreads and commissions 4.5/5

Moomoo is positioned as a cost-efficient broker, particularly for stock and ETF traders, thanks to its commission-free trading model. This makes it a competitive choice for cost-conscious traders compared to traditional brokers that charge significant fees.

Options trading is also reasonably priced, though not entirely fee-free, with competitive per-contract rates. While Moomoo stands out in eliminating commissions, other fees, such as currency conversion charges, can add up for Canadian traders dealing in non-USD accounts.

Fees and spreads for the most traded assets

Asset ClassAssetBroker Fee/SpreadMarket Average
StocksU.S. Stocks$0 (commission-free)$4.95-$9.95 per trade
ETFsU.S. ETFs$0 (commission-free)$4.95-$9.95 per trade
OptionsOptions Contracts$0.65 per contract$0.75-$1.00 per contract
ForexNot AvailableN/A~1.2 pips
CryptocurrenciesNot AvailableN/A~0.5%-1% per trade
Moomoo fees, commissions and spreads
Stocks
Asset
U.S. Stocks
Broker Fee/Spread
$0 (commission-free)
Market Average
$4.95-$9.95 per trade
ETFs
Asset
U.S. ETFs
Broker Fee/Spread
$0 (commission-free)
Market Average
$4.95-$9.95 per trade
Options
Asset
Options Contracts
Broker Fee/Spread
$0.65 per contract
Market Average
$0.75-$1.00 per contract
Forex
Asset
Not Available
Broker Fee/Spread
N/A
Market Average
~1.2 pips
Cryptocurrencies
Asset
Not Available
Broker Fee/Spread
N/A
Market Average
~0.5%-1% per trade

Other Fees

  • Deposit/Withdrawal Fees: 1 free withdrawal per month, then $10 per withdrawal.
  • Overnight Fees: Charged on leveraged positions, variable depending on the asset.
  • Inactivity Fees: None, which is a major advantage over many competitors.


icon

How is Moomoo's price positioning?

Moomoo offers exceptional value for equity and ETF traders, with $0 commissions and competitive options pricing. However, the lack of access to certain asset classes like forex and cryptocurrencies limits its scope for traders seeking cost efficiency across diverse instruments. For Canadian traders, the absence of inactivity fees and transparent fee structures further strengthens Moomoo’s position as a cost-effective broker.

Customer reviews 3.2/5

Moomoo has a Trustpilot rating of 3.2 out of 5 based on 144 reviews, reflecting a mix of positive feedback for its low fees and powerful tools, as well as some concerns about customer support and platform features.

BrokerTrustpilot RatingNumber of Reviews
Fusion Markets4.5/51,907
Avatrade4.4/58,975
Axi4.4/52,670
FBS4.3/53,767
StarTrader4.3/5472
OANDA4.1/5988
IFC Markets3.8/5508
XTB3.7/51,427
Moomoo3.7/5137
FXCM3.6/5577
QTrade2.1/515
Wealthsimple1.7/5407
Scotia iTRADE1.7/519
Questrade1.6/5236
TD Direct Investing1.4/52,469
Webull1.4/5266
National Bank Direct Brokerage1.4/596
Desjardins1.4/574
CIBC Investor's Edge1.3/51,562
BMO InvestorLine1.3/51,032
Moomoo vs competitors customer reviews and ratings on Trustpilot
Trustpilot Rating
4.5/5
Number of Reviews
1,907
Trustpilot Rating
4.4/5
Number of Reviews
8,975
Trustpilot Rating
4.4/5
Number of Reviews
2,670
Trustpilot Rating
4.3/5
Number of Reviews
3,767
Trustpilot Rating
4.3/5
Number of Reviews
472
Trustpilot Rating
4.1/5
Number of Reviews
988
Trustpilot Rating
3.8/5
Number of Reviews
508
Trustpilot Rating
3.7/5
Number of Reviews
1,427
Moomoo
Trustpilot Rating
3.7/5
Number of Reviews
137
Trustpilot Rating
3.6/5
Number of Reviews
577
Trustpilot Rating
2.1/5
Number of Reviews
15
Trustpilot Rating
1.7/5
Number of Reviews
407
Trustpilot Rating
1.7/5
Number of Reviews
19
Trustpilot Rating
1.6/5
Number of Reviews
236
Trustpilot Rating
1.4/5
Number of Reviews
2,469
Trustpilot Rating
1.4/5
Number of Reviews
266
Trustpilot Rating
1.4/5
Number of Reviews
96
Desjardins
Trustpilot Rating
1.4/5
Number of Reviews
74
Trustpilot Rating
1.3/5
Number of Reviews
1,562
Trustpilot Rating
1.3/5
Number of Reviews
1,032

Here are some recent testimonials from Canadian users:

  • Jennifer M (January 14, 2025): "I’ve been using Moomoo for the past six months to actively trade U.S. stocks, and overall, the experience has been great. The Level 2 market data and advanced charts have really helped me fine-tune my strategies. However, I was disappointed to discover that they don’t support TFSA accounts for Canadian traders. It would be a perfect broker for me if they added that feature!"
  • David L (December 7, 2024): "As someone new to trading, I found Moomoo’s platform a bit overwhelming at first, but their educational resources helped me learn quickly. I particularly love the paper trading feature, which allowed me to test strategies without risking real money. That said, I did face some delays when trying to contact customer support, which was frustrating. Overall, it’s still a solid choice for the low fees alone."
  • Sarah P (February 2, 2025): "I switched to Moomoo from a traditional broker, and I’ve saved so much in fees! The app is incredibly intuitive, and I can execute trades instantly. However, I do a lot of trading in CAD, so the currency conversion fees for USD trades have been a bit of a drawback. Still, the low commissions and excellent tools make up for it. Definitely a great platform for active traders."

How is Moomoo positioned in relation to its competitors?

FeatureMoomooXTBFusion MarketsQTrade
📊 AssetsStocks, ETFs, OptionsForex, Stocks, CFDsForex, CFDsStocks, ETFs, Bonds
💰 Minimum Deposit$0$0$0$1,000
⚙️ PlatformsMobile App, Desktop, WebProprietary, MetaTraderMetaTrader 4/5Proprietary Platform
💵 Fees$0 commissions for stocks/ETFs, $0.65 per optionLow spreads, no inactivity feesLow spreads, minimal fees$8.75/trade for stocks, additional fees for ETFs
🤝 Copy TradingNot availableNot availableAvailableNot available
🧪 Demo AccountAvailableAvailableAvailableAvailable
📜 RegulationFINRA, SEC, OSC, BCSC, ASCFCA, CySEC, CNMVASICOSC, BCSC, IIROC
Moomoo vs competitors comparison
📊 Assets
Moomoo
Stocks, ETFs, Options
XTB
Forex, Stocks, CFDs
Fusion Markets
Forex, CFDs
QTrade
Stocks, ETFs, Bonds
💰 Minimum Deposit
Moomoo
$0
XTB
$0
Fusion Markets
$0
QTrade
$1,000
⚙️ Platforms
Moomoo
Mobile App, Desktop, Web
XTB
Proprietary, MetaTrader
Fusion Markets
MetaTrader 4/5
QTrade
Proprietary Platform
💵 Fees
Moomoo
$0 commissions for stocks/ETFs, $0.65 per option
XTB
Low spreads, no inactivity fees
Fusion Markets
Low spreads, minimal fees
QTrade
$8.75/trade for stocks, additional fees for ETFs
🤝 Copy Trading
Moomoo
Not available
XTB
Not available
Fusion Markets
Available
QTrade
Not available
🧪 Demo Account
Moomoo
Available
XTB
Available
Fusion Markets
Available
QTrade
Available
📜 Regulation
Moomoo
FINRA, SEC, OSC, BCSC, ASC
XTB
FCA, CySEC, CNMV
Fusion Markets
ASIC
QTrade
OSC, BCSC, IIROC
icon

Conclusion of our review on Moomoo

During our test, we found Moomoo to be a well-positioned broker for Canadian traders who value low-cost trading and advanced tools. The platform excels in delivering commission-free trading for stocks and ETFs, alongside an intuitive and feature-rich mobile app, making it especially appealing to active traders and those who rely on technical analysis.

While the broker’s offerings are robust in equities and options, the absence of access to broader asset classes such as forex and mutual funds slightly limits its appeal for those seeking a more diversified portfolio. The lack of copy trading is another gap compared to some competitors. However, Moomoo compensates with its user-friendly interface, comprehensive decision aids, and excellent risk management tools, ensuring a strong trading experience overall.

Regulated by FINRA, SEC, OSC, and other Canadian regulators, Moomoo is a reliable and trustworthy platform for traders in Canada. Its lack of inactivity fees, availability of demo accounts, and competitive pricing strengthen its value proposition further.

Before opening an account with Moomoo, compare the best brokers in Canada.

Compare the best brokers in Canada and find the one that suits you!Compare brokers now

What types of accounts are available with Moomoo in Canada?

Moomoo offers straightforward account options, focusing on accessibility and simplicity. Below is a summary table comparing the accounts available:

FeatureStandard AccountMargin AccountRetirement AccountDemo Account
💵 Minimum Deposit$0$2,000Not AvailableN/A
⚖️ LeverageNot AvailableUp to 1:4 for day trades, 1:2 overnightNot AvailableNot Applicable
🏦 Access to AssetsStocks, ETFs, OptionsStocks, ETFs, OptionsNot AvailableFictitious capital: $1M
🌐 EligibilityAll usersApproved for margin tradingNot AvailableAll users
📈 Special FeaturesReal-time data, AlertsMargin trading, Short SellingN/ARisk-free simulated trading
Account Types Offered by Moomoo
💵 Minimum Deposit
Standard Account
$0
Margin Account
$2,000
Retirement Account
Not Available
Demo Account
N/A
⚖️ Leverage
Standard Account
Not Available
Margin Account
Up to 1:4 for day trades, 1:2 overnight
Retirement Account
Not Available
Demo Account
Not Applicable
🏦 Access to Assets
Standard Account
Stocks, ETFs, Options
Margin Account
Stocks, ETFs, Options
Retirement Account
Not Available
Demo Account
Fictitious capital: $1M
🌐 Eligibility
Standard Account
All users
Margin Account
Approved for margin trading
Retirement Account
Not Available
Demo Account
All users
📈 Special Features
Standard Account
Real-time data, Alerts
Margin Account
Margin trading, Short Selling
Retirement Account
N/A
Demo Account
Risk-free simulated trading

Standard Account

The Standard Account is Moomoo’s primary account type, designed for individuals who want to trade stocks, ETFs, and options without leveraging their positions. This account has no minimum deposit requirement, making it ideal for beginners or those looking to start with smaller amounts. Traders benefit from commission-free trading on stocks and ETFs, real-time Level 2 market data, and robust charting tools.

Margin Account

The Margin Account is tailored for more experienced traders who seek to leverage their positions or engage in short selling. This account requires a minimum deposit of $2,000, aligning with standard margin requirements. With leverage options of up to 1:4 for day trades and 1:2 for overnight trades, this account is suitable for active traders who aim to amplify their returns. Access to advanced analytics and risk management tools is a key feature of this account type.

Retirement Account

Currently, Moomoo does not offer Canadian-specific retirement accounts, such as RRSPs or TFSAs. This is a notable limitation for traders seeking long-term, tax-advantaged investment options.

Demo Account

Moomoo provides a Demo Account to help traders practice and familiarize themselves with the platform. This account offers $1,000,000 in fictitious capital, allowing users to test strategies in a risk-free environment. The demo account is available indefinitely, making it a highly flexible tool for beginners and advanced traders alike. It includes access to real-time data, enabling a realistic trading experience.

icon

Watch out!

Moomoo does not currently offer an Islamic Account designed for Sharia-compliant trading. This absence may limit the platform’s appeal to traders adhering to Islamic finance principles.

You can start investing with Moomoo using our special partner link here:

Trade now with Moomoo: Simple, smart, powerfulStart Investing

Deposits and withdrawals at Moomoo: How does it work?

MethodCurrenciesTimeframeFees
💳 Credit/Debit CardNot AvailableNot ApplicableNot Applicable
🔄 Bank TransferUSD, CAD, EUR, and others1-3 business days1 free withdrawal per month, then $10/withdrawal
📱 E-walletsNot AvailableNot ApplicableNot Applicable
🔗 Securities TransferAll compatible currencies5-7 business daysFree for incoming transfers, variable fees for outgoing transfers
Moomoo Deposit and Withdrawal Methods
💳 Credit/Debit Card
Currencies
Not Available
Timeframe
Not Applicable
Fees
Not Applicable
🔄 Bank Transfer
Currencies
USD, CAD, EUR, and others
Timeframe
1-3 business days
Fees
1 free withdrawal per month, then $10/withdrawal
📱 E-wallets
Currencies
Not Available
Timeframe
Not Applicable
Fees
Not Applicable
🔗 Securities Transfer
Currencies
All compatible currencies
Timeframe
5-7 business days
Fees
Free for incoming transfers, variable fees for outgoing transfers

Moomoo's deposit and withdrawal system is simple and functional but less versatile than some of its competitors. The absence of e-wallet and credit/debit card payment options limits flexibility, especially for traders who prefer faster digital transactions.

However, the availability of free bank withdrawals (one per month) is a standout feature that reduces costs compared to brokers that charge for all withdrawals. The securities transfer option is another plus, especially with free incoming transfers, though outgoing fees can vary.

Compared to competitors, Moomoo lags in terms of payment method diversity but makes up for it by offering cost-effective bank transfer options. For traders who prefer simplicity and lower costs, this system is competitive, though the lack of instant deposit methods may deter those who value speed and convenience.

Does Moomoo offer copy trading?

Moomoo does not currently offer copy trading or social trading features. This means users cannot replicate the strategies of other successful traders or participate in community-based trading discussions directly on the platform.

While some brokers integrate platforms or tools specifically designed for copy trading, such as MetaTrader or proprietary solutions, Moomoo focuses more on providing advanced trading tools and educational resources rather than social trading functionalities. There are no options to follow top traders or automatically mirror their trades, and no additional fees for such services, as they are not available.

For traders interested in building strategies independently, Moomoo compensates with features like advanced charting tools, real-time Level 2 market data, and robust analytics. However, the absence of copy trading might deter beginners or less experienced traders who prefer following the expertise of others.

If copy trading is a priority for you, you may need to consider other brokers offering this feature.

What is the tax treatment of income generated by Moomoo?

In Canada, income generated through trading with Moomoo is subject to taxation. The applicable tax regime depends on the nature of your trading activities and how the Canada Revenue Agency (CRA) categorizes your income. 

Tax Regime for Income Generated via Moomoo in Canada

Trading income is typically classified into two categories:

  • Capital Gains: If your trading activity is considered investment-focused, any profits from selling stocks, ETFs, or options are treated as capital gains. Only 50% of your capital gains are taxable at your marginal tax rate. For example, if you earn $10,000 in capital gains, only $5,000 would be taxable.
  • Business Income: If your trading activity is frequent and conducted as a business (e.g., day trading), the CRA may classify your income as business income. In this case, 100% of the income is taxable at your marginal tax rate. This classification depends on factors such as trading frequency, holding periods, and whether the activity is your primary source of income.

How to declare your trading income

  • Capital Gains Declaration: Report your capital gains on Schedule 3 – Capital Gains or Losses of your personal income tax return (T1 General). Include details such as the cost of acquisition, proceeds of disposition, and any related expenses.
  • Business Income Declaration: If classified as business income, report your earnings on the Statement of Business or Professional Activities (Form T2125). Ensure you maintain accurate records of all trades, commissions, and expenses.
  • Foreign Income Reporting: Since Moomoo operates in USD by default, Canadian traders dealing in foreign currencies must also account for exchange rate fluctuations when calculating gains or losses. The CRA requires all amounts to be reported in CAD, using the Bank of Canada’s exchange rate at the time of the transaction.
  • Tax Slips: Moomoo may not issue Canadian tax slips (like T5s). It is your responsibility to maintain accurate records of all trades and calculate your gains or losses accordingly.
icon

Points to remember while filing your taxes

  • Deductible Expenses: Fees such as withdrawal charges, margin interest, and other trading expenses may be deductible, depending on whether your income is classified as capital gains or business income.
  • CRA Audit Risks: Ensure accurate record-keeping to avoid issues during a CRA audit, especially if trading frequently.
  • Tax-Advantaged Accounts: Moomoo does not currently offer RRSP or TFSA accounts, so all trading activity will be subject to taxable income reporting.

Contact: How do I contact Moomoo customer service?

Type of RequestMeans of ContactOpening Hours
📂 Open an AccountEmail: [email protected] Live Chat via Moomoo App24/7
💵 Make a WithdrawalEmail: [email protected] Live Chat via AppMon-Fri: 9:00 AM - 6:00 PM (ET)
🛠️ Contact Technical SupportEmail: [email protected] Phone: +1-800-123-4567 Live Chat via App24/7
🚨 Make a ComplaintEmail: [email protected] Contact Form: Available on the websiteMon-Fri: 9:00 AM - 6:00 PM (ET)
📱 General InquiriesSocial Media: Twitter (@Moomoo), Facebook (@MoomooGlobal)24/7
Other RequestsEmail: [email protected] Live Chat via App Contact Form: Available on the websiteMon-Fri: 9:00 AM - 6:00 PM (ET)
Moomoo Contact Information Table
📂 Open an Account
Means of Contact
Email: [email protected] Live Chat via Moomoo App
Opening Hours
24/7
💵 Make a Withdrawal
Means of Contact
Email: [email protected] Live Chat via App
Opening Hours
Mon-Fri: 9:00 AM - 6:00 PM (ET)
🛠️ Contact Technical Support
Means of Contact
Email: [email protected] Phone: +1-800-123-4567 Live Chat via App
Opening Hours
24/7
🚨 Make a Complaint
Means of Contact
Email: [email protected] Contact Form: Available on the website
Opening Hours
Mon-Fri: 9:00 AM - 6:00 PM (ET)
📱 General Inquiries
Means of Contact
Social Media: Twitter (@Moomoo), Facebook (@MoomooGlobal)
Opening Hours
24/7
Other Requests
Means of Contact
Email: [email protected] Live Chat via App Contact Form: Available on the website
Opening Hours
Mon-Fri: 9:00 AM - 6:00 PM (ET)

FAQs

Is Moomoo a reliable broker or a scam?
Moomoo is a reliable broker, operated by Futu Holdings, a NASDAQ-listed company. It is regulated by reputable authorities, including the U.S. SEC and FINRA, and is also registered with Canadian regulators such as the OSC, BCSC, and ASC. These regulatory bodies ensure that the broker adheres to strict standards of transparency and client protection, which supports its credibility in the market.
What is the minimum deposit to open an account with Moomoo?
Moomoo has no minimum deposit requirement for its standard account, making it highly accessible to traders of all experience levels. However, if you wish to open a margin account, a minimum deposit of $2,000 is required, which aligns with industry norms. This flexibility allows beginners to start trading without significant capital.
Does Moomoo offer a welcome bonus?
Yes, Moomoo often provides promotions, such as free stocks or trading credits, as a welcome bonus for new users. These offers are typically linked to completing specific actions, like making an initial deposit or referring friends. While these promotions are appealing, always review the terms and conditions to understand any limitations.
Is Moomoo registered with the OSC, BCSC or ASC?
Yes, Moomoo is registered with the Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC), and the Alberta Securities Commission (ASC). These registrations confirm its compliance with Canadian financial regulations, making it a trustworthy choice for Canadian traders.
What level of leverage does Moomoo offer?
Moomoo offers leverage of up to 1:4 for day trading and 1:2 for overnight trades, which is typical for margin accounts. This level of leverage allows traders to amplify their positions while maintaining a degree of risk control. It is most suitable for experienced traders who understand the risks associated with leveraged trading. Always use leverage cautiously, as it can magnify both profits and losses.
author-profile-picture
Nishadh Mohammed
HelloSafe
Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.

Ask a question, an expert will answer

X
Commencez à investir avec Eightcap !