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Broker review
moomoo Review
30-Day Commission Rebate Card, up to $2,000, Plus Free-Stock Draws
- Sign up through moomoo’s designated page; no code, unlock in the app
- Free-stock draws: 10 at a $1,000 deposit held 30 days, 30 at $8,000
- A separate transfer-in reward of up to $2,300 is advertised without a current terms page
Welcome Rewards close 30 September 2026. A bonus is paid once; fees are paid every year, so treat it as a tie-breaker.
Full offer detail
moomoo’s Welcome Rewards run from 1 June to 30 September 2026, so the window closes in days. New clients who sign up through the designated page get a 30-day commission rebate card worth up to $2,000 in refunded commissions, plus free-stock draw entries for deposits held 30 days: 10 draws at $1,000, 30 draws at $8,000. There is no promo code; you unlock it in the app. A separate Trading Welcome Gift pays up to $20 in cash coupons for your first three trades and runs to 30 December 2026, by invitation. moomoo also advertises a transfer-in reward of up to $2,300 including $100 in fee reimbursement on transfers of $10,000 or more, held 90 days, but we could not find a current terms page for it. Check the current terms on moomoo’s site before relying on any of these.
Moomoo Financial Canada Inc. is registered with the Canadian Investment Regulatory Organization as an investment dealer and is a member of the Canadian Investor Protection Fund. moomoo describes itself as an independent brand of Futu Holdings, a Nasdaq-listed financial group based in Hong Kong. Canaccord Genuity Corp. acts as carrying broker.
moomoo does not charge a flat commission. It charges a small amount per share, split into a commission and a platform fee, each with its own minimum. That can work out cheaper or dearer than a flat fee depending on how many shares you buy and at what price, so the worked examples below matter more than the headline.
Is It Right for You?
Good Fit
- You buy a few hundred shares of higher-priced stocks; a 100-share trade costs $1.49
- You want free Level 2 data on US stocks and extended-hours trading
- You park cash between trades; 2% on idle balances with no minimum
- You want a TFSA or RRSP and nothing more exotic
Look Elsewhere If
- You need an FHSA, RESP, RRIF, LIRA or joint account; none are offered
- You buy penny stocks in size; per-share pricing has no cap
- You want to know the conversion spread; the 0% fee hides an unpublished markup
What It Costs
| What you are doing | What moomoo charges |
|---|---|
| Canadian stock or ETF | $0.0049 a share commission plus $0.01 a share platform fee, $1.49 minimum an order |
| US stock or ETF | US$0.0049 a share commission plus US$0.005 a share platform fee, US$1.99 minimum an order |
| Stocks priced under $1 | $0.0005 a share commission plus $0.001 (Canadian) or US$0.0005 (US) platform fee; minimums apply |
| US-listed options | US$0.65 a contract, US$1 minimum an order; no exercise or assignment fee |
| Canadian-listed options | Not offered |
| Account fee | None |
| Minimum to open | None published; margin accounts need US$2,000 or $2,500 |
| EFT deposit or withdrawal | Free |
| Wire transfer | $50 |
| Moving your account to another firm | $75 full, $50 partial, plus sales tax |
| RRSP withdrawal | $75 full, $50 partial |
| Mutual funds, bonds, GICs, fractional shares | Not offered |
The two per-share charges and their two minimums add together, so the smallest possible Canadian trade costs $1.49 and the smallest US trade US$1.99. A 100-share order of a $30 Canadian stock costs $1.49; 500 shares costs $7.45. There is no published cap, so a very large order of a cheap stock can cost more than a flat-fee broker would charge. US sell orders also carry the SEC’s regulatory fee, a fraction of a cent per hundred dollars, which every broker passes through.
What a Year Might Cost You
Worked from moomoo’s own fee schedule for four common patterns: 12 ETF purchases a year, 60 stock trades, 100 options contracts across 10 trades, and converting $10,000 to US dollars once. Where pricing is per share we assume 100 shares an ETF purchase and 200 a stock trade. Illustrations, not quotes.
Buying US Stocks at moomoo
A US stock settles in US dollars. If your account holds only Canadian dollars, the broker converts on every purchase and again on every sale, taking a markup each time. Holding US dollars means you convert once. Two things matter: whether you can hold US dollars, and what the conversion costs.
US-Dollar Side
Cash and margin accounts hold both Canadian and US dollars, and moomoo’s Cash Sweep pools the two. For the TFSA and RRSP, moomoo’s fee pages list TFSA withdrawals in either currency but RRSP withdrawals in Canadian dollars only, and no page we found states plainly which registered accounts carry a US-dollar side.
What It Costs
No separate charge is published for holding US dollars.
So the fee is zero but the cost is not, and the size of the spread inside the Preferred Rate is not published. That is the same position as Qtrade and Scotia, dressed differently. The schedule also says the waiver can end without notice. Treat moomoo’s “$0 currency exchange fees” marketing as a description of the fee line, not of what a conversion costs you.
Accounts You Can Open
Registered
TFSA, RRSP and spousal RRSP.
Non-Registered
Individual cash and individual margin accounts.
Not Offered
FHSA, RESP, RRIF, LIRA, LIF and joint accounts appear nowhere on moomoo’s list. Corporate accounts are mentioned in the help centre without published terms.
You must be the age of majority in your province, have a Canadian residential address and a Social Insurance Number. Quebec residents can open an account. RRSP holders must be under 71. No minimum deposit is published for cash or registered accounts; a margin account requires US$2,000 or $2,500.
The Platform and Research
Platform
moomoo runs on desktop, web and mobile, with a paper-trading account included. Extended hours on Canadian stocks run 8:00 to 9:30am and 4:15 to 5:00pm Eastern; on US stocks, 4:00 to 9:30am and 4:00 to 8:00pm. moomoo’s help centre carries articles on trailing stop and trailing stop-limit orders alongside the usual market, limit and stop orders. moomoo advertises free Level 2 market data on US stocks, which most brokers charge for.
Research and Data
Research is built into the app rather than licensed from named providers: options tools with 13 strategy templates, a free options calculator and real-time options analysis, and an in-app community. There is no third-party research library of the Morningstar kind, and moomoo names no news wire on its Canadian pages.
We have not traded on this platform ourselves, so we make no claims about how it feels to use. Everything above is drawn from what moomoo publishes.
Cash Sweep
Cash Sweep pays 2% a year on uninvested cash in cash and margin accounts, accrued daily and paid weekly, with no minimum balance and no lock-in. Canadian and US dollar balances are combined at a fixed rate to work out the total. moomoo’s own pages disagree on whether TFSA and RRSP cash is included; one says it is, another lists only cash and margin accounts, so check before relying on it for a registered plan.
There is no published client tier for larger accounts. A limited-time “Moomoo Engine” trial paid 6% on the first $10,000 for 30 days, but it was open only to accounts opened by 1 September 2026, which has passed.
Before You Open an Account
Where It Falls Short
The Exchange Rate Hides a Spread
The 0% fee is real, but the Preferred Rate it converts at includes a spread moomoo does not publish, and the waiver can end without notice.
Five Account Types
No FHSA, RESP, RRIF, LIRA or joint account. A family with an RESP or a couple wanting a joint account has to go elsewhere.
Per-Share Pricing Cuts Both Ways
Cheap on a few hundred shares of an expensive stock, expensive on thousands of shares of a cheap one, with no published cap.
No Canadian Options, No Funds
Options are US-listed only. There are no mutual funds, bonds, GICs or fractional shares.
Fees to Leave and to Withdraw
$75 plus tax to transfer out, and $75 to make a full RRSP withdrawal.
Common Questions
Is my money safe at moomoo?
Moomoo Financial Canada Inc. is regulated by the Canadian Investment Regulatory Organization and is a member of the Canadian Investor Protection Fund. CIPF protects property held by a member firm that becomes insolvent, within set limits, not against investments falling in value.
What accounts can I open at moomoo?
Individual cash, individual margin, TFSA, RRSP and spousal RRSP. There is no FHSA, RESP, RRIF, LIRA or joint account.
Does moomoo really charge nothing to convert currency?
The fee is 0%, waived until further notice. The conversion happens at moomoo’s Preferred Rate, which its own fee schedule says includes a spread, and the size of that spread is not published.
How does per-share pricing compare with a flat commission?
For 100 shares of a $30 stock, moomoo charges $1.49. For 2,000 shares of a $2 stock it charges $29.80, because there is no cap. Flat-fee brokers charge the same for both; commission-free brokers charge nothing for either.
Brokerage terms change without notice. Verify current fees and offer terms with the broker before opening an account. This review is general information about a product. It is not investment advice and does not take your personal circumstances into account. MoneyMint is not a registered dealer or adviser. Consider speaking with a qualified professional about decisions that depend on your own situation.
Disclosure. MoneyMint has no paid relationship with moomoo. The links on this page earn us nothing.