Today’s investors have an ever-growing list of sites and services to choose from when deciding where to get their information, run their screeners, chart their picks against technical indicators, and every other investing-related activity. If they actually want to trade on any of the insights they garner from all their legwork, however, they usually have to pop over to brokerages and trading platforms like eTrade or Robinhood.
For whatever reason, it’s hard to find an easily accessible service or software that can do both trading and in-depth analysis, and it’s particularly hard to find one that can do it all with a sleek, modern interface. There really aren’t that many services out there, so you can imagine how nice it is when we do come across one.
Moomoo, the thing we’re here to talk about, is one of those multifunctional platforms that can do both trading and analysis. And before we go any further: it’s worth a look at the very least.
Also before we go any further, let’s talk about the name. Moomoo. Look, we get it, the logo is a bull, as in bull market or as in the big bull on Wall Street. Bulls moo, and young children sometimes call cows moomoos. But one look at moomoo’s interface will tell you that their platform is anything but childish.
Inaccurate name aside, moomoo is an impressive piece of software. So let’s take a look at what it’s about, what it can do, and what it actually looks like in action.
The Voodoo That Moomoo Do Do
Platforms
First thing’s first: moomoo is available pretty much anywhere but in a browser. You’re going to have to download the software if you want to use it. It’s really not a big deal, though it may raise some eyebrows for people who’ve gotten used to having a browser-based option.
If you use moomoo on a desktop and feel like going all cyberpunk with it, the software supports up to 6 monitors at once. That’s 6 screens of charts, data, bid/asks, news feeds, or whatever else you want to have right in front of you. Just make sure you have a computer with a powerful GPU, or at least a monster of a CPU, and plenty of RAM. Oh, and monitors. You’re going to need a ton of monitors.
Markets
Moomoo users can trade all US stocks—exchange-listed and over-the-counter—ETFs, and options, plus a selection of American Depository Receipts, Hong Kong stocks, and Chinese A-shares.
All US-based trades are commission-free, though there are some fees associated with international trades.
Market Data
You may be limited to trading stocks, ETFs, and such on moomoo, but that doesn’t stop them from providing real-time data on a metric ton of other markets and asset classes.
If you want to check out international markets, for instance, you can click around and find data from these countries:
Canada
Japan
Australia
Singapore
And that barely scratches the surface. You can also find up-to-date information on all kinds of different asset classes, including:
Cryptocurrencies
Futures
Foreign Exchange
Bonds
Warrants
Pro Tip:
Moomoo is a rare combination of a brokerage that offers COMMISSION-FREE U.S. trading as well as FREE level II market data and charting capabilities. Sign up for moomoo today to get started with this free, all-in-one trading platform!
Real-Time Data
Speaking of data, moomoo goes out of its way to provide its users with stock quotes and market movements in as close to real-time as possible. They proudly declare that they refresh the data from US markets (international markets have a time delay) every 0.03 seconds, which is pretty close to the fastest a 60Hz monitor can display the changes.
In addition to those ridiculously quick updates, moomoo also provides access to real-time Level II data with up to 60 levels of bids and asks. In case you don’t know, Level II data gives you a much deeper look into the scope of the bids and asks that determine the price of a stock.
If you mostly take longer-term positions and aren’t doing a lot of intraday trading, then Level II data probably won’t be that useful. If you are a day trader who does a lot of intraday trading, on the other hand, it can be an invaluable tool for determining the demand for any given stock and predicting short-term price movements.
A lot of services only provide Level II data to paying subscribers, if at all, so moomoo providing it for free is low-key kind of a big deal.
The News Feed
Moomoo wants you to have all the news. Their news feed is long and diverse, with stories sourced from over 200 different publications. It’s not just a single news feed, either. If you click on any given stock, bond, ETF, market, etc, you can navigate to its individual news pane for a list of recent relevant stories collected in one place.
If you go to the main news tab, you can also find all the news stories relevant to stocks/assets on your watchlist, plus an interactive calendar that’s automatically populated with all the important events coming up in the economy and in your stocks’ futures. It’s just stuff like upcoming earnings announcements and new economic data like jobs numbers and such, but it’s still a nice little feature to have.
The Community
If you’ve ever wanted to talk to complete strangers about investing without leaving your trading platform, now’s your chance. Moomoo’s chatroom/social media-esque features let you access a number of different spaces for traders to hang out and talk. You can chat, make friends, and start groups and group chats with those friends if you so desire. Again, not a critical feature, but still pretty cool.
Chart-Topping Charts
Moomoo’s charts are not messing around. They have all the regular stuff like line graphs, candlesticks, multiple time frames, and market/stock comparisons, but they don’t stop there.
No, seriously. They go hard.
Are you into technical analysis? Like slapping indicators on graphs and fiddling with moving averages and Bollinger bands like some kind of fiscal Nostradamus? Well, you’re in luck.
Moomoo’s charts support a ton of different indicators—63 of them, to be exact—and you can apply, tweak, and cross-compare as many of them as you want at a time. You can even change the colors of each indicator to help you make sense of the tangled web of lines and sticks that you know you want to make.
And if those preset indicators aren’t enough for you, moomoo comes complete with a custom indicator creator tool. You can choose from any combination of the 190+ preset functions to make your very own prognosticating tools for a truly bespoke digital tea leaf reading experience.
Oh, and you know how most charts just sort of sit there all static and whatnot? Yeah. Moomoo does things a little differently. You can opt to make adjustments etc with all the little buttons on the sides of the charts, but that’s kid stuff. No, you want to open up the drawing menu and get all Beautiful Mind with it, don’t you?
Good news: moomoo has 38 different drawing tools for you to make your mark on any chart you please. You can draw your own trend lines, isolate and identify trends in certain time periods, and apply all of it against any technical indicators you want to apply on the chart alongside your own work. Think of it like a digital whiteboard for you to work out your thoughts and spot interesting patterns from the comfort of your desk chair.
Alternative Chart/Data Stuff
This is a quick section devoted to the features that didn’t fit neatly in the other categories.
Short Sale Volume: A set of charts that show short sale volumes. Gives you a visual representation of short signals, short interest, daily short volume, and other short-related data
Institutional Holdings: Charts that, when data is available, show a visual representation of aggregated institutional holdings and provides some analysis
Company Valuations: Charts and datasets that let you use PB, PE, and PS models to evaluate stocks and their valuations. Also lets you graph against historical data
Financial Reports: Gives you a way to evaluate earnings reports and financial reports using charts, graphs, and key indicators like revenue and past growth rates
Pro Tip:
Moomoo is a rare combination of a brokerage that offers COMMISSION-FREE U.S. trading as well as FREE level II market data and charting capabilities. Sign up for moomoo today to get started with this free, all-in-one trading platform!
Great, But What’s it Actually Like?
Now, let’s take a look at what using moomoo is actually like. For this example, we’re going to look up a stock (AAPL), take a quick look at its price and financial data, and buy a share. Ready?
Step 1: Open up moomoo. Below you’ll see the dashboard of a sample account when logging on.
As you can see, the dashboard automatically includes portfolio information in the center, general account information on the left, and data that we’ve looked up previously on the right for a stock called Futu Holdings.
Our portfolio is missing something, though. How about a new stock?
Step 2: Look up the stock. Below, you’ll see the dashboard screen with the search function open and pointed toward AAPL.
There’s quite a long list of options, but the one we’re looking for is at the very top. Apple Inc. You know, the people who made the phone you’re probably using right now.
Step 3: Take a look at the stock.
Now we’re on the default view that pops up when you navigate to AAPL’s page. It’s highly customizable—just about every bit of it can be tweaked, hidden, or expanded—and there’s a lot going on, so let’s break it down.
The middle of the screen shows AAPL’s price changes in intraday trading today with a trend line to smooth things out. On the top right you’ll see some of AAPL’s historical price data, and below it you’ll see some of the bid/ask spreads from the trading day. Under that you’ll see the Level II data that shows multiple levels of bid/asks.
To the left of the Level II data is what we’re looking for: the trading interface. The price is fine, so we’re going to need to change the “Style” to “MKT Buy.” There are a lot of other options for buying and selling, though, including stuff like “Limit,” “Market,” “Trailing Stop Limit,” and a bunch of other options.
Here’s a closer look at the trading interface before we make the trade.
So congratulations (to us)! One share of AAPL. Billionaire status, here we come.
Pro Tip:
Moomoo is a rare combination of a brokerage that offers COMMISSION-FREE U.S. trading as well as FREE level II market data and charting capabilities. Sign up for moomoo today to get started with this free, all-in-one trading platform!
Is Moomoo Legit?
If this rare combination of trading capabilities and top-notch data sounds too good to be true, you might be wondering:
Is moomoo legit? Is moomoo safe?
Like most other legitimate investment platforms, moomoo is heavily regulated. Both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulation Authority (FINRA). The government agency (SEC) and government-authorized nonprofit (FINRA) make sure that moomoo is following the law and being honest with investors.
Moomoo is also a member of the Securities Investor Protection Corporation (SIPC), which insures the assets in your brokerage account in the event that your brokerage fails. You’re insured up to $500,000, including $250,000 for claims for cash. Keep in mind that the SIPC does not protect you in the event that a stock you’ve bought declines in value.
Conclusion
Moomoo is an inaccurately named stock trading platform that has a ton of great features. It’s relatively easy to use, jam-packed with features, and gives average investors the ability to trade in international waters.
It’s no wonder the platform has received awards from platforms like Fintech Breakthrough, Investing Simple, and Benzinga. (Read our Benzinga Review.)
So if you’re looking for a new place to trade or just feel like downloading something, why not give it a shot?
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