moomoo: trading & investing 4+

Go to Day trading app

I love this app. It is fantastic for level 2 trading, includes a good community to get trading ideas or find chat groups outside of the app to join. Also you get good pricing on your trades as well as quick finalization. The only suggestions I have are a quicker news feed. As it seems like the news stories are behind other applications like webull or TD ameritrade. The pre and post chart. You are only able to view it as a line graph right now and it would be nice to see the candlesticks instead. And finally the ability to set stop losses or take profit trades. Moomoo does have trailing stop trades but it would be nice to have the SL and TP options as well.

Thank you for the excellent trading platform! And the excellent technical support.

Developer Response ,

Thank you so much for your kind review, and we are super glad that you find our app useful! We will definitely work to improve our news section in the future, thank you for the good advice! I will refer the analyst target prices to our data team and see if we can include it in our analysis page. Thanks!

Real customer experience

So I found an offer for around $20 to install the app sign up and get approved and all and then deposit $1, so I figured I would use the app and take the extra $20 and invest it and go from there testing the app out. Got to the point where you deposit the $1 after linking your bank account that they say they accept, and they say it takes days to verify the transfer but they will front you whatever amount you deposit until then, wellluckily I waited because I’m sure they would charge “reverse fees” because that’s what they did with the deposit. Supposedly my “very very very well known bank” is not accepted on moomoo and they charged my a reversal fee of 5x the amount I deposited. So before I knew this, I tried one more time and again I got denied the transfer and charged 10x the amount I tried to deposit. It took me all of 5 minutes to delete account, uninstall app, and write reviews here and on the AppStore in hopes of saving others from these whack jobs. Oh and they never gave me the $20 for depositing, and the website where I found the offer said they haven’t had a single payout from moomoo. Thanks moomoo.

Developer Response ,

Apologies for the inconvenience. We'd like to know more about the issues and help sort out. Please contact our 24/7 live chat agents through the app via Me > Customer Service. If you prefer talking to someone, please call us at +18887210610 during regular trading days, 8.30 am - 4.30 pm eastern time.

Life Savings Lost Due To Order Book Glitch

On January 20th 2021, I was trading options as I regularly do. I have been a patron of FUTU/MOOMOO for about a year and it has been an utter joke. Last week, I had a massive options position opened. Around 12Pm the order book glitched leaving wrong numbers on the order book leaving me to believe my position was still in my risk parameters and would be able to close the position if need be.

I emailed Futu support (SINCE THEY HAVE NO NUMBER TO CALL!!) and told them about my issue. It took over 5 days to give me the generic response that they are not responsible and that I should read TOS because apparently I agreed that even if there’s a glitch I’m responsible for losses occurred. Over $30,000 USD was lost due to the incompetence and lack of support from the FUTU customer service team. Due to the glitch I was unable to close the position and was left in the dark for 5 whole days, not being told anything other than to wait patiently.

Moomoo seems great on paper, but be warned. The glitches robinhood, TD and others face are walks in the park compared to Moomoo’s disastrous glitches and endless mistakes. (DONT FORGET THEY LACK A CUSTOMER SERVICE PHONE NUMER! Only email!)

You’re better off donating your money to a charity before depositing it on Moomoo, atleast then you won’t be depressed when you lose your life saving due to a massive glitch, caused by a CHINESE brokerage.

See you in court Futu Holdings