facebookHas anyone started using Futu's app - moomoo as your stock brokerage? - Seedly

Anonymous

21 Apr 2021

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General Investing

Has anyone started using Futu's app - moomoo as your stock brokerage?

Futu just launched their stock brokerage platform in Singapore a few days back. I'm considering migrating from eToro to moomoo, interested in your viewpoints on it so far. Do share your thoughts on it!?

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Nicholas Beh

12 Mar 2021

Student Ambassador 2020/21 at Seedly

I recently opened and funded an account with them to give it a go. Currently, I would say that they are in a beta stage and not all features have been fully rolled out. But they work really quickly and something new comes up every other day! Here are some of my observations:

  • It compares similarly to Tiger

  • Super fast account opening, within minutes

  • Deposits took 4hrs to reflect in my account (during working hours)

  • Their app is feature-rich and full of information

  • Has social features built in and an active community

  • Commission-free trading for US and HK markets for now, but platform fees will still be charged

  • Margin is not working yet

  • Options are not working yet

  • No free live market data for SGX

  • Similar exchange rates compared to Tiger, better than DBS

  • They use DBS for banking, so foreign currency transfers to and from DBS MCA will not incur fees

If you are looking to switch brokers, I would suggest that you choose other brokers in the meantime until Futu manages to roll out all of their features.​​​

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Moomoo now one of the cheapest for sgx, commission waived so only 0.03% platform (min $1.5) plus 0.04% sgx fees. Tiger now is 0.08% (no minimum) plus 0.04% sgx fees. Means orders $1875 in value and below will be cheaper on Tiger. Above $1875 cheaper on moomoo.

But market data on moomoo is 10 mins delayed... when most other broker offer free live data

best of all, if you top 2.7k you get free apple share (can withdraw anytime, no string attached)

Feel free to use my link to secure the freebies..

https://j.moomoo.com/004DK9

10 Mar 2021

I've just started using Moomoo and was previously on Tiger Brokers (a competitor with very similar f...

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