American depositary receipt (ADR) escrow fees-moomoo Help Center (2024)

FAQs

How do I contact moomoo support? ›

To reach the FUTU Moomoo customer service hotline, dial 6439 1100 on weekdays from 9am to 6pm.

Is moomoo Legit? Moomoo is a legit online broker that operates out of Palo Alto, California, and is a FINRA-registered broker-dealer. It also has a 3.6 star rating on Trustpilot and is quickly growing in popularity as an alternative to investment apps like Robinhood and Webull.

ADRs are created and issued by both domestic and international banks. These custodian banks or 'ADR agents' will typically charge an ADR 'pass-through fee' to cover administrative or other costs associated with the ongoing management of the particular ADR program. The average fee is one to three cents per share.

Moomoo. Moomoo Inc., a subsidiary of Futu, is a U.S.-based financial services company headquartered in Palo Alto, California that allows customers to trade US stocks, Chinese stocks, Hong Kong stocks, ETFs, and options.

moomoo SG is a trading platform that is a wholly-owned subsidiary of NASDAQ-listed Futu Holdings, a company backed by Tencent.

moomoo review summary. MooMoo is a US-based zero-commission broker. A big plus for moomoo is that zero-commission trading is available, with no inactivity fees for US residents trading on US markets.

The Deposit Accounts (including principal and accrued interest) are insured by the FDIC, an independent agency of the U.S. government, to the Maximum Applicable Deposit Insurance Amount for all deposits held in the same insurable capacity at any one Deposit Bank.

You can then withdraw your funds in SGD, USD or HKD to your bank account. Here's what to do when it's time to withdraw your MooMoo funds¹: Log into your MooMoo account. Click Trade > Brokerage Account > All > Withdraw.

ADR FEE rate range between 1 – 5 cents per share, different ADRs will have different charge rate and bill date, if corresponding stock issues dividend during the year, ADR FEE will be deducted from the dividend amount in the name of dividend fee, if corresponding stock issues no dividend, ADR FEE should be paid ...

Why can't i withdraw from moomoo? ›

At moomoo, the only available option to withdraw money to your account is via Bank transfer. Remember, you can only withdraw funds to accounts that are in your name.

Although Moomoo might be better suited for those at the intermediate and advanced levels, even beginners can use the app with relative ease. Robinhood is more suited to beginning investors, but more advanced traders can use the app to accomplish their goals. Both apps are available for Apple and Android devices.

ADR fees is not avoidable. In most cases, ADR fees may not tax deductible as investment expenses. If ADR fees is charged by the custodian to ADR holders, the brokerage will pass on this fee directly to a client's account. If an ADR does not pay a dividend then this fee will deducted from the client's cash account.

Key Takeaways

ADR fees may show up on your account statement as “maintenance fees” and they aren't expensive, perhaps $5 or so per 1,000 ADRs.

A bank issues a sponsored ADR on behalf of the foreign company. The bank and the business enter into a legal arrangement. The foreign company usually pays the costs of issuing an ADR and retains control over it, while the bank handles the transactions with investors.

Moomoo Accepted Countries

Moomoo offers its services to residents of the US, Hong Kong, Macao, Taiwan, Singapore, and Malaysia. US residents with citizenship in other countries can also use Moomoo to trade.

About moomoo

Moomoo and its brand affiliates also offer rich investor education content and an interactive online community with 17 million users in more than 200 countries globally.

As you could see, moomoo is regulated by SEC and provides the SIPC investor protection scheme. SIPC protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash.

Moomoo's parent company is the Nasdaq-listed fintech company Futu Holdings Limited ("Futu"), which is headquartered in Hong Kong SAR. Futu's subsidiary is also one of the largest brokerages in Hong Kong SAR.

Can moomoo buy China A shares? ›

Besides access to U.S. markets, moomoo also lets you trade in the Hong Kong stock market as well as buy and sell China A-shares — one of the most unusual benefits of an account with moomoo.

Robin Xu, Futu SG (moomoo) CEO Mr. Ivan Mok and Managing Director Mr. Gavin Chia and other members of SGX Group and Futu SG (moomoo) struck the gong at SGX Group's IPO Arena on Thursday, 30 June 2022 at market open.

MOOMOO MONEY PLUS has monthly-paid, quarterly-paid, and annually-paid dividend funds.

Moomoo offers a range of US-listed stocks as well as international ones. For instance, here traders can access Chinese A-Shares, Hong Kong markets, and ADRs. US stocks from the NASDAQ and NYSE are also available via ETFs and OTCs. This Moomoo review found more than 13,000 different stocks to trade at this brokerage.

Better Platform: Moomoo. Though both platforms offer commission-free investments on U.S. assets, Moomoo's affordable access to Asian market exposure gives it a bit of an edge over Webull. Moomoo also offers slightly more affordable margin trading, assuming that your total debit balance is less than $25,000.

At moomoo, the minimum deposit is $0. This means that you can deposit as little money as you wish. After you have completed the registration and verification process, you need to fund your account to start trading.

Licensed by MAS

In Singapore, investment products available through the moomoo App are offered by Moomoo Financial Singapore Pte. Ltd. ("moomoo SG"), a wholly-owned subsidiary of Futu Holdings Limited. Moomoo SG is a broker-dealer and custodian licensed by the Monetary Authority of Singapore, (License No. CMS101000).

When a customer subscribes IPO, some of funds may be frozen. The fund of IPO subscription will be frozen during the IPO subscription, and the customer can modify or cancel the IPO subscription application. The frozen funds will be deducted on the day of subscription closing.

A: There is no withdrawal limits.

A deposit via ACH normally takes up to 5 business days to settle, but some might take about 2-3 business days. We keep improving our risk control system to settle more funds in a faster way.

How often is ADR fee charged? ›

ADR Fees are charged 1 to 4 times per year normally, the frequency might be higher under special circ*mstances. The charge amount will be split accordingly. For example, if annual ADR Fees is 2 cents and the charging frequency is 4 times a year, 0.5 cent will be charged each time.

With a cash account, you'll only be able to purchase shares based on the total amount of cash in your account. This is not a bad thing depending on your risk profile. With a margin account, you'll be able to access additional funds that your broker can lend to you.

If you fulfill the conditions and complete the tasks within the validity period, the claim button will light up and you can click on it to claim your free stocks. The free stocks will be automatically transferred to your trading account within 4 trading days. You can then trade the stocks as you normally would.

If you are choosing between Tiger Brokers and moomoo, you might want to go with moomoo if you are cost conscious. For example, if you were trading a US share, you would be charged a minimum of US$0.99 on moomoo per trade and US$1.99 on Tiger per trade after adding up the commission fees and platform fees.

Can you buy cryptocurrencies on Moomoo? No, you cannot purchase cryptos like Bitcoin, Ethereum, or Dogecoin on Moomoo. However, Moomoo has provided indications that they will support the most actively traded crypto coins in 2022 or 2023.

Based on our scoring methodology, moomoo is a broker that we can recommend for beginners.

Failing to engage in ADR / Mediation can result in an adverse costs order being made against the refusing party, if it is found that they were acting unreasonably in refusing the invitation, even where they later succeed in their case.

You cannot get a ruling on your legal rights, including discrimination and human rights, in ADR processes. You can still resolve a dispute about these issues, but you won't get a decision about whether or not the law has been broken.

Refusal by an ultimately successful party to mediate or enter into ADR is risky as it can result in the Court applying cost sanctions to the winning party.

One of the most common questions is whether ADR fees are tax deductible, but this is not a tax like a dividend withholding tax. It means that ADR fees will not be tax deductible for most holders, so you will have to pay taxes on them.

How do I pay my ADR? ›

Visit the AAA's website at www.adr.org; 2. Click “My Account” and login to your account using your credentials; 3. Click “All Open Invoices” or you may navigate to the case record and select the “Finance” tab; 4. Select the bill line for which you would like to issue a payment, then click “Pay Online”; and 5.

Small investors and investors not expecting to hold the stock for long will find the ADR is usually more cost effective. Larger investors and long term holders should generally buy the foreign stock.

A: No, we don't support covered calls, you would have to take on margin for the short position. We will update later, stay tuned. In order to help you guys with options trading, we have launched a new function-Options Analysis on moomoo.

After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal. At moomoo, the withdrawal process is usually executed within >3 days.

Although Moomoo might be better suited for those at the intermediate and advanced levels, even beginners can use the app with relative ease. Robinhood is more suited to beginning investors, but more advanced traders can use the app to accomplish their goals. Both apps are available for Apple and Android devices.

Since entering the Singapore market, moomoo has proven to be a hot-favorite among the investing community, with its user base amassing to 220,000, of which 100,000 are paying clients.

2.1 Go to [Me > Trading Related > Bank Account > Wire Bank Accounts]. 2.2 Select the bank account you want to remove, and tap the "Remove" button at the bottom of the page. You cannot remove any bank account with pending deposits/withdrawals. Moomoo is a professional trading app offered by Moomoo Technologies Inc.

* Transfer fee: Moomoo Financial Inc. charges a $75 transfer fee for each stock transferred. For example, if you'd like to transfer two stocks, i.e. BABA and AAPL, from Moomoo Financial Inc. to an outside brokerage firm, the total transfer fee will be $150 ($75 * 2).