Its main selling point is the amount of free data you get, plus access to Hong Kong and Chinese markets. Although the interface might be a bit intimidating for newer investors. Moomoo is one of the only trading platforms to offer free real-time Level 2 market data from the New York Stock Exchange https://www.tdameritrade.com/investment-products/forex-trading.html (Level 2 shows the real-time bids and asks from the NYSE). Traders can leverage this tool normally reserved for professional traders to gain valuable insights. Moomoo is commission-free for stocks, options, ETFs (exchange-traded funds), and ADRs for U.S. traders trading in U.S. markets.
Rotating the mobile device produces a horizontal chart with a decent amount of indicators, drawing tools, and plot styles. The last category includes not only equities on the big U.S. exchanges, but also stocks on the Hong Kong and mainland Chinese markets. The broker-dealer unfortunately doesn’t have a long list of account types, such as joint or custodial accounts. Only individual taxable accounts can currently be opened. Moomoo does not have an auxiliary insurance policy at this time, so SIPC coverage is the maximum available for securities. Half of the insurance can be used to cover uninvested cash that’s not swept to partner banks. Although the Better Business Bureau isn’t a securities regulator, it does nevertheless keep track of companies doing business in the United States.
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But the downside of many investing apps is that they don’t provide that much market data; or they make you pay for it. And they don’t always have the most in-depth charting tools advanced traders might want. You’re an advanced trader who values sophisticated trading tools. Moomoo’s mobile and desktop trading platforms offer a wide range of resources and trading tools to monitor market trends.
Moomoo is a one-stop financial technology platform transforming investing experience with its fully digitalized securities brokerage services. Technology permeates every part of moomoo’s business, allowing it to offer a redefined user experience built upon a secure, stable, agile, and scalable online platform. The company also offers free real-time Level 2 data for US stock markets, displaying up to 60 real-time bids and asks with no trading halts or delays. Since its launch, moomoo has been growing rapidly as a competitor to platforms like Robinhood and Webull that largely cater to active traders. It provides a wealth of market data and charting tools, as well as access to several foreign markets. And its trading platform is robust on both desktop and its mobile apps.
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This is perfect for those who want to be aware of what’s going on with certain stocks at all times of the day. You can customise the alert by price levels and percentage changes. This lets you filter through stocks to find the one you want to trade. This is super handy for discovery new, interesting stocks and opportunities. Again, this feature is great for those who just want to keep tabs on the market.
- She studied communications and English literature at the University of Toronto.
- This is a new outfit with a variety of trading services.
- Access global investments with real-time data and a suite of powerful free analytical tools at your fingertips.
- And you can still learn the ropes if you’re a new trader thanks to moomoo’s paper trading option, which I’ll cover in greater detail below.
As a member of the Financial Industry Regulatory Authority, Moomoo is required to abide by regulations designed to keep the public safe. Moomoo has a very comprehensive, up-to-the-minute news section to keep you in the know about important current events that will affect the market. This also includes exclusive market insights that can put you ahead of the crowd.