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There are only more advanced ways to use Robinhood’s stylish interface to conceive a stock trading application—but it’s still completely free.
That is omo, This is a colorful and increasingly popular investment application. It not only provides commission-free trading for American customers who trade in the US market, but also is equipped with a powerful intelligent trading toolbox.
Using this application, you can easily trade all the stocks, bonds, options and ETFs you want without having to pay any commissions. However, this is only the beginning.
If you are a more experienced businessman, moomoo will provide you with some powerful firepower. We are talking about in-depth market data, fast updates, customizable advanced charts, pre- and post-market trading hours, and a complete set of research and analysis tools.
As a relatively new field, moomoo competes fiercely with advanced stock trading platforms such as Webull and thinkorswim, which can already meet the needs of experienced traders.
However, this is the trump card of moomoo: unlike its competitors, it provides free level 2 market data in the US market to all those who open an account. The premier data feed for serious traders shows the real-time bids and asking prices of market makers.
If you know how to read the data, you can better understand the actual situation of a particular stock, thereby increasing the chance of profitable trading. Other stock trading apps charge additional fees for level 2 quotes, so this makes moomoo unique.
Is this application safe?
Is moomoo legal? Online investors think so.
The app is too new to be rated by the Better Business Bureau, but online traders continue to give the moomoo mobile app excellent ratings because of its responsiveness and practicality. As of May 2021, the app has received nearly 5 out of 4.7 points (out of 3,000 reviews) on Apple’s App Store and 4.5 out of 3 points (out of 200) on Google Play (out of 5).
moomoo is headquartered in Silicon Valley and is backed by a Hong Kong-based parent company, Futu Holdings, a brokerage and wealth management company.
Is this beyond the control of the US authorities? Do not! In the United States, investment products and services on motuo are provided by Futu Inc., which is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This applies to all legal stockbroking companies in the United States,
Futu Inc. is also a member of the Securities Investor Protection Corporation (SIPC), which provides insurance for your investment portfolio up to $500,000.
Your financial information is encrypted and your deposit is insured.
How to get free stock from Moomoo
It’s always nice to get a little bonus. If you use the following method to join moomoo This link, You can earn up to three free stocks.
- Open an account and deposit $100, and you can get stocks worth no more than $200 for free.
- Deposit at least $5,000 and get two more free stocks worth no more than $1,000.
Did we mention that these are free? Because they are free.
Practice fake money first
Moomoo’s trading platform has so many features that it seems a bit at a loss for novices. If you are not ready to take the lead, you can try using funds equivalent to digital monopoly. You can see for yourself how it works without the risk of losing any real money.
This is the so-called “bill transaction”. Using the virtual currency in the demo account, you can use the stock trading simulator to practice and test different strategies. In this way, you can understand the functions that this stock trading platform must provide. You can even log in with your Facebook or Google account ID.
If you made a lot of fake money through amazing investment genius, that would be cool. On the other hand, if you take a bold risk and lose a lot of fake money, it is not a big problem.
Important features of Moomoo stock trading app
As we mentioned, the moomoo application is at your fingertips, providing a series of powerful analysis tools and trading tools. It enables experienced traders to apply their knowledge, and its educational products enable beginners to learn new skills.
This is the most important function of the stock trading platform:
Commission-free trading for U.S. customers in the U.S. market
On the moomoo app, you don’t need to pay any commissions when buying or selling more than 5,000 different stocks and ETFs (Exchange Traded Funds). These stocks and ETFs contain hundreds of thousands stock with Bond.
There are no commissions or contract fees for option transactions.
You may come across some earlier online articles about moomoo which said that the app does not allow you to buy bonds. But this is no longer true. You can use the app to buy or sell municipal, corporate or U.S. Treasury bonds.
You can also short stocks in the margin account, although we should emphasize this high-risk, high-return strategy Really Not suitable for beginners.
Data analysis tools
If you are looking for data that can be used as a basis for investment decisions, moomoo will provide you with everything you need. It provides market data that can be classified and analyzed using 50 different technical indicators.
Whether you are using a mobile phone, tablet or PC, you can conduct in-depth research and analysis on this application.
You can view the financial statements of the company. You can access the income statement of each listed company. You can see the inflow and outflow of funds for each company.
You can also access third-party ratings obtained by professional researchers who are studying various stocks.
You can customize the chart
For any given inventory, the chart tells a story: How has that inventory performed in the past 24 hours? In the past month? In the past year? How did you perform in the past five minutes?
Which chart do you prefer-line chart, bar chart, candlestick chart? You can customize the mapping function to suit your personal preferences.
Similarly, moomoo uses 50 different technical indicators to sort the data. You can use any indicator you need to view to chart the market data.
For any given stock, technical analysts can view indicators such as relative strength index or capital flow index to predict future price fluctuations of the stock.
Extend trading hours
With moomoo, you are not limited to the standard time of opening the stock market. You can continue to access quotes and transactions during the trading hours from 4 am to 9:30 am Eastern Standard Time.And time to market, from 4pm to 8pm
Momao The transaction time is longer than that of competitors, and the extended time is free and there is no additional cost.
When it comes to extending trading hours, you can take advantage of them in the following ways:
Intelligent transaction order
By using “Smart Order”, you can access those stocks that are bought and sold before and after the listing. You can enter a stop-loss limit order or a trailing stop-loss order.
Are you a high volume trader? You can even order up to 40 orders at a time.
Advanced alert system
You can track the market without sticking to your phone. With moomoo, you can set your own custom alerts for the stocks and ETFs you are interested in. These alerts can include price alerts, bid/ask price alerts, event alerts, whatever you want.
Are you waiting for the stock price to drop below a certain amount before buying? Do you want to know when the price of the stocks you own will rise? Are you waiting for a specific event from a specific company? Send notifications to your phone, so you will never miss anything that is important to you.
Customizable news feed
Of course, you must keep abreast of financial news. Therefore, news summaries from sources such as CNBC and Dow Jones are useful to investors, but the amount of information may be too numerous to list. Before you know it, you might get drowned in the news feed.
Moomoo can let you Customize your feed So you will only get news that is really important to you. The app also provides exclusive market insights that you cannot find on CNBC.
No minimum deposit requirement
Most stock trading applications require you to put in a minimum deposit, and you can even use them to open an account.
Not moomoo. There is no minimum deposit requirement. In fact, you can start a “note transaction” with zero dollars.
Foreign stock market
Moomoo not only allows you to invest in the US stock market, but also in Hong Kong and China. You should be aware that additional fees are charged for foreign stock transactions, but these stocks are easily available on moomoo.
To buy and sell Hong Kong stocks or Chinese stocks, investors in Futu Inc pay a fee of 0.03% of the total amount through moomoo, and each order charges 2 to 3 US dollars. It should be noted that moomoo’s competitors usually charge higher fees for this service.
You can also invest in foreign currencies on the Forex market.
Active online community
On the moomoo app, you can communicate with other investors like you. This community already has more than 100,000 users and is still growing.
In the community, stock traders can post questions, links and opinions; share news updates; and even create their own online polls.
This is another way to keep you up to date with the pulse of the investment world. This is also a good place to raise questions about specific investment opportunities that you might want to know.
Customer Support
You should know that moomoo’s customer support is provided via online chat and email 24 hours a day on weekdays.You can send customer service via email [email protected]
However, investors who are viewing moomoo in the Google and Apple app stores said that moomoo customer support usually responds to it quickly.
How to open an account
you could Open a brokerage account through moomoo Within five minutes. The only requirement is that you must be a U.S. citizen over the age of 18 and have a valid social security number. These are the qualifications you need.
Go to the homepage of moomoo or download the application to your phone, tablet or PC. It doesn’t matter whether you are using an Apple, Google or Windows device.
Just follow the instructions below:
- Select “Open Account” from the dashboard.
- Enter your email address and choose a secure password.
- Enter your basic personal information-your name, date of birth, phone number and social security number.
- Choose the country where you live, and then fill in your mailing address.
- Answer some basic questions about your employment status: Are you unemployed, retired or a student? If you are hired, you will be asked to provide the name of the industry, occupation and employer.
- Choose your annual income and net worth. You will have multiple choices.
- Complete the personal disclosure section.
- Sign and click “Submit”.
Moomoo said that the application will be processed within one working day, so you should reply via email as soon as possible.
Most importantly, moomoo is building a newest, next-generation one-stop online stock trading store. If you are an experienced senior investor, it will have all the tools you need. Click here to start.
Mike Brasfield ([email protected]) Is the senior writer of The Penny Hoarder.
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