Is Moomoo Legit and Safe?

Based on our assessment of 20 safety indicators, Moomoo is a legitimate broker – with a score of 83/100. This is based on an evaluation of its regulatory licenses, track record, infractions, our hands-on use of its platform, wider third-party reviews, and key account safeguards.

Written By
James Barra

Fact Checked By
Tobias Robinson

Edited By
William Berg

Updated
August 18, 2026

Professional Opinion

Moomoo is a legitimate, heavily regulated broker listed on the NASDAQ (FUTU), while providing robust safeguards like access to investor compensation in many countries. However, Moomoo receives an 83/100 safety score, primarily due to several regulatory fines and infractions.

Overall though, Moomoo can be considered financially sound and secure for online trading. We did not find evidence that suggests Moomoo will steal client funds, unfairly refuse withdrawals, operate a scam and disappear, while customer cash sits in segregated client money accounts at top-tier banks in most regions where it operates, including the US and Asia Pacific.

Moomoo Legitimacy Assessment

Follow the methodological, data-driven approach we took to assess whether Moomoo is legit or not, with the broker receiving a score from 0 to 5 (where 5 is better) in each category, with scores rolled up into a total out of 100.

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Moomoo Legitimacy Indicators
Feature	Score (0-5)	Moomoo Details
1. Regulations & Licenses	5/5	Yes – FINRA (US), MAS (Singapore), ASIC (Australia), CIRO (Canada), FSA (Japan), FSPR (New Zealand), SC (Malaysia). All ‘Category A’ bodies in our regulator bandings except SC, which is ‘Category B’. No weak, offshore licenses.
2. Investor Compensation Schemes	4/5	Yes – US (USD $500k and $250k for cash), Canada (CAD $1M), Hong Kong (HKD $500k), Japan (Yen 10M), Malaysia (RM 100K), Singapore (USD $500k US assets, S$50k SGX trades). Coverage against eligible events like Moomoo’s insolvency in most regions where it’s licensed. No additional, broker-built compensation scheme.
3. Age	4/5	Launched 19 January 2018 before expanding globally. Average to long track record, indicating legitimacy. Scam brokers tend to disappear after weeks or months.
4. Listed On Stock Exchange	5/5	Yes – parent company Futu Holdings Limited listed on US NASDAQ under ticker FUTU. High levels of financial transparency. Fewer than 5% of brokers tested are publicly listed.
5. Registered As A Bank	0/5	No. Brokers that also operate as banks often have to meet high compliance requirements regarding capital and financial management.
6. Third-Party User Reviews	4/5	Large library of user testimonials with over 85,000 across Trustpilot, App Store, and Google Play, with ratings of approx 3+/5 on Trustpilot, 3+/5 on Google Play, and 4.5+/5 on App Store. Average to good customer feedback overall. More user reviews than most brokers we track.
7. Withdrawal Complaints	4/5	Some complaints (<20 on Trustpilot) concerning delays or problems withdrawing money from Moomoo accounts. Normal for a broker of Mommoo’s size to have some, especially due to KYC and AML requirements.
8. Handling Of Complaints	5/5	Moomoo replies to most significant complaints on platforms like Trustpilot, including every withdrawal issue as of our latest checks.
9. Regulatory Fines & Infractions	2/5	Yes: RMB 1.85B corporate penalty and RMB 1.25M fine for founder in China in 2022 and 2026 for soliciting Chinese residents without authorization. USD $750k fine in the US in 2024 for using misleading social media influencers. USD $125k fine in the US in 2025 for failing to report large options positions. 3-month restriction on accepting new accounts in Japan in 2026 for mislabeling accounts, blocking client asset transfers, and AML failures. Client account freeze directives in Hong Kong in 2023-2026 due to external market manipulation concerns of users (not Moomoo itself). Normal for a broker of this size to have faced some regulatory actions, but still warrants awareness before signing up.
10. Accounts Audited By Big Four	5/5	Yes – accounts are often externally audited by one of the Big Four (Deloitte, PwC, EY, KPMG), notable examples include PwC. Reassuring sign that auditing heavyweights are scrutinizing Moomoo’s financials.
11. Hands-On Testing Experience	5/5	BrokerListings.com’s team have spent 55+ hours directly using Moomoo – we’ve opened accounts, placed trades on FX, metals and US indices, tried its stock screener, heat map, and other tools. No serious stability or reliability issues reported.
12. Working Support	4/5	Yes – 24-hour support in many regions, including US and Japan. Live chat, email, and telephone assistance. We’ve sent 10+ queries covering account, trading and regulations with responses typically under <5 mins.
13. Secure Website	5/5	Yes – TLS/SSL 256-bit encryption, two-factor authentication can be enabled for account logins, including Moomoo token, 6-digit trading passwords, biometric access on trading apps. No widely reported hacks or data leaks.
14. Realistic Marketing	4/5	Moomoo does not guarantee profits, suggest its offering is an easy or fast route to riches. Prominent risk disclaimers used during sign up, in client terms, with leverage in lines with respective regulatory caps, e.g. 1:2 in the US. No deceptive marketing, caveat being historical issue with social media influencers.
15. Industry Reputation	4/5	Moomoo is well-regarded by brokerage experts and the retail investing community, especially for its commission-free offering and extensive market access.
16. Segregated Client Accounts	5/5	Yes – used in all regions it operates, often at tier-one banks, e.g. DBS and OCBC in Singapore and HSBC in Australia. Helps to ensure client assets cannot be commingled with Moomoo’s operating funds and potentially misused to e.g. pay off debts.
17. Negative Balance Protection (NBP)	3/5	Mixed – used in some regions where it offers CFDs, notably Australia and Singapore, but not in some other countries, including the US, where it’s not legally required to. Clients without NBP must carefully manage risk as sharp market swings can lead to losses that exceed account balances.
18. Number Of Clients	5/5	Over 30 million. One of the largest brokerages with significant user bases in the US and Asia Pacific especially. Millions of accounts used actively each month.
19. Transparent Fees	5/5	Clear ‘Pricing’ page on its website prior to sign-up with details on key fees, including commission-free trading, margin rates, market data, and transfer fees, e.g. for using ACH Transfer in the US. No hidden costs or surprises.
20. Company Transparency	5/5	Clear parent company (Futu Holdings Limited), company address in the footer of each website, CEO and management team easily found on LinkedIn. Not a shady broker who hides information about who runs the firm.
Total	83/100

Is Moomoo Safe?

No broker, including Moomoo, can ever be considered fully ‘safe’. While well-established with strong financial licenses and account safeguards, Moomoo has been the subject of several regulatory warnings, fines, and orders.

Also, the very nature of online trading means any money you invest in a brokerage account could fall to zero or beyond where negative balance protection is not in place (e.g. US customers of Moomoo), regardless of the provider you use.

Still, based on our assessment, which weighs external data points, publicly verifiable information, plus the direct experiences of our team and other users, Moomoo can be considered fairly safe, especially compared to other brokers.