Tiger Brokers | Syfe | City Index | Stashaway | POEMS | SAXO | Interactive Brokers | moomoo | Endowus | IG Trading | CMC Markets | ProsperUs | Webull moomoo SG is a trading platform that is a wholly-owned subsidiary of NASDAQ-listed Futu Holdings, a company backed by Tencent. Having entered the Singapore market only in March 2021, moomoo SG announced its arrival by offering a free AAPL share pre-launch and during their launch, and has been offering different free shares ever since. Signup perks aside, moomoo SG boasts competitive commission fees, particularly if you’re an investor looking to trade stocks in the U.S, Hong Kong or Singapore markets. Before you jump on the bandwagon and open a moomoo SG trading account, here’s what you’ll need to know. What you can invest in: US, HK, China, and SG stocks, ADRs, ETFs, REITs Commission fees: Platform fees: moomoo (Futu) is also the first digital brokerage in Singapore that has full SGX membership, which includes trading and clearing memberships for securities and derivatives. This means that investors have the option to open a Central Depository (CDP) account to trade in SGX products such as equities and derivatives. At the time of writing, this service isn't available yet. Here are the pros and cons of using moomoo SG for your investment and trading needs. SingSaver Exclusive Promotion:Receive S$80 Grab vouchers when you open a moomoo universal account and fund a minimum of S$100. Valid till 3 January 2024. T&Cs apply. Additionally, get up to S$660 in rewards and up to 5.8%^ p.a. guaranteed returns when you park your cash with Moomoo Cash Plus for up to 30 days. Valid till 3 January 2024. T&Cs apply. From 2 November 2023 to 3 January 2024, new users who open a moomoo SG account will receive various sign-up rewards worth up to S$730: Reward 1: Upon successful opening of a moomoo SG securities account, you’ll enjoy: moomoo Cash Plus 5.8% p.a. guaranteed returns of up to S$380, valid for 30 days Reward 2 If you deposit a cumulative amount of at least S$3,000 (or equivalent currencies) before 3 January 2024 for 30 days and perform three cummulative buy trades and maintain your assets for 30 days to receive: One stock bundle consisting of Tesla (TSLA), Nvidia (NVDA), Apple (APPL), Sea (SEA), and NIO (NIO) fractional shares worth around S$70. With an annualised 5% return on their cash management account, moomoo SG — a trading platform by Moomoo Financial Singapore Pte. Ltd. could be a good place to park your cash for better return. Here’s what else moomoo SG has to offer investors in Singapore.
Best investment platforms on SingSaver
Overview of moomoo SG
Product summary
Minimum balance required: No minimum requiredPros of using moomoo SG Cons of using mooomoo SG Attractive sign-up promotions Limited to the US, HK, China, and Singapore markets Low minimum commission fee (none for US stocks, HK$3 for HK stocks and S$0.99 for SG stocks) Incur a platform fee Join a global investment community A host of useful trading tools at your disposal 
Pros of using moomoo SG as your trading platform
#1 Attractive sign-up promotion of a free share
Reward 3
Deposit a cummulate amount of at least S$10,000 (or equivalent currencies), maintain it for 90 days, and perform eight cummulate buy trades before 3 January 2024 to receive three stocks bundles of Apple, Nvidia, Tesla, and Sea, and NIO fractional shares worth S$210.
Note that rewards 1, 2, and 3 are stackable.
#2. Low commission fees
The commission fees charged by moomoo SG for your trades made on the US, Hong Kong and Singapore markets are amongst the most competitive rates available.
For example, moomoo SG charges just 0.03% of the transaction amount for stocks on SGX with a minimum of S$0.99 per order. There's also no commission fee for trading in U.S stocks for eligible customers.
Thus, the minimum commission fee required is also low – even more so than the likes of Tiger Brokers and Interactive Brokers (IBKR).
Tiger Brokers charges a minimum commission fee of US$0.99 per order for US equities and S$0.99 per order for Singapore stocks, while IBKR charges a minimum of US$0.35 per order for US stocks and S$2.50 per order for Singapore stocks.
On this note, do not be fooled by zero-commission free trades that might convince users that trading is absolutely free, as advertised by brokerage accounts. Do beware of other fees like a per-share settlement fee that some brokerage accounts charge, especially those without a cap. This could potentially put you in a deficit if the price of each share is low.
An article by The Business Times highlighted a trader who sold his shares for a total of US$5,000, only to realise that he found himself in an US$11,000 deficit because of the high settlement fee that he was charged.
Also read: Brokerage Fees And Other ‘Hidden Fees’ To Know When Investing In Singapore
SingSaver's Exclusive Offer: Receive S$60 Cash via PayNow when you sign up for a Wellbull account and fund a minimum of S$100 within the promotion period. Get an additional S$60 Cash (S$120 total) when fund at least S$2,000. Valid till 10 Jan 2024. T&C's apply.
Plus, snag an additional S$80 voucher from Webull when you activate Moneybull and maintain the S$2,000 deposit till 31 Jan 2024. Valid till 29 Dec 2023. T&Cs apply.
#3. Join a global investment community
Analyse the latest trending stocks with like-minded traders and investors. You can share your trade ideas, check out what others are discussing and get exposed to other stocks that have gone under your radar.
The moomoo investment community is reminiscent of a social media platform like Facebook or Instagram where you can leave likes and comments, and follow the discussion thread.
#4. A host of tools at your disposal
With one moomoo SG app at hand, you can easily find popular stocks and the hottest industries to sink your money in. It can screen by market cap, percentage change, turnover, trade volume, P/E and more.
You also have the option to find stocks based on financial metrics such as net profit growth and debt-asset ratio, or technical metrics such as MACD, RSI, BOLL and more.
The app also keeps you updated with the latest news that could affect your trades. This news is sorted by topics, time stamps, whether the stock in focus is on your watchlist, and by categories like earnings and IPOs.
#5 It's regulated by the Monetary Authority of Singapore (MAS)
moomoo is licensed and regulated by the MAS, so you can rest assured that your money is safe in the event that the broker goes bust or is liquidised.
What's more, the U.S securities in your account are insured for up to US$500,000 by the Securities Investor Protection Corporation (SIPC).
SingSaver exclusive offer: Sign up for a Tiger Brokers account and fund any minimum amount to receive S$140 Grab Vouchers. Fund US$1000 to receive an additional S$50 Grab vouchers (total S$190). Valid till 3 Jan 2024. T&Cs apply.
Also, get up to US$888 worth of prizes and an 8% p.a. interest bonus from Tiger Brokers when you deposit and trade with your Tiger Brokers account. Valid till 22 December 2023. T&Cs apply.
What charges or fees should you look out for?
Commission fees:
US stocks: 0% for eligible customers
Hong Kong stocks: 0.03% of the investment amount or HK$3, whichever is higher
Singapore stocks: 0.03% of the transaction amount, min. S$0.99 per order
Platform fee:
Hong Kong stocks: HK$15 per order
Singapore stocks: 0.03% of the transaction amount, min. S$0.99 per order (commission fee is waived for the first year). That said, do be wary of other fees such as settlement fees, SEC fees, and trading activity fees, which will go to the likes of the U.S Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA)
US stocks: US$0.99 per order
SingSaver's Exclusive Offer: Open a CMC Invest account and get S$20 bonus cash. Plus, fund a minimum initial amount of S$500 and receive S$60 cash rebate from CMC Invest. Valid till 14 January 2024. T&Cs apply.
Additionally, receive 1 iShares Global Clean Energy ETF or 1 iShares Robotics and AI ETF or 1 Tesla Inc. share when you deposit and trade with your CMC Invest account. T&Cs apply.
moomoo SG vs Tiger Brokers vs IBKR vs Webull vs CMC Invest
| Tiger Brokers | Interactive Brokers (IBKR) | Webull | moomoo | CMC Invest | |
| Commission fee | SGX stocks: 0.03% trade value (min. S$0.99 per order) US stocks: US$0.005 per share (min. US$0.99 per order) | SGX stocks: min. S$2.50 per order US stocks: min. US$0.35 per order | SGX stocks: N.A US stocks: 0.025% total trade amount (min. US$0.50) | SGX stocks: 0.03% of the transaction amount (min. S$0.99 per order) (free for a year) US stocks: none | SGX stocks: 0.05% or min. S$3 (after two free trades) US stocks: 0.04% or min. US$4 (after five free trades) |
| Platform fee | SGX stocks: 0.03% trade value (min. S$1 per order) US stocks: US$0.005 per share (min. US$1 per order) | None | None | SGX stocks: 0.03% of transaction amount (min. S$0.99 per order) US stocks: US$0.99 per order | SGX stocks: none US stocks: none |
| Minimum deposit | None, but min. S$1,000 is required in order for sign-up promotion | None | None | None | None |
| Maintenance fee | None | None | None | None | None |
How do you open and fund your moomoo SG account?
Opening your moomoo SG account is simple and quite frankly, really quick. How quick? Your application can be approved within fifteen minutes.
Like many other investment platforms, you can speed up the application process by using MyInfo to help you pre-fill the relevant personal details required.
Finally, a FAST transfer is all that’s needed for you to deposit money into your moomoo SG trading account. You have the option to deposit either SGD, USD or HKD.
If you don't have a bank account in Singapore, you can also transfer funds from your overseas account via Wise (formerly TransferWise). You can fund your account either through Wise balance or bank transfer via Wise. Here's a step-by-step guide on how to do it.
If you’re still unsure if moomoo SG is for you, check out this article for the best brokerage accounts in Singapore.
SingSaver Exclusive Promotion:Receive S$80 Grab vouchers when you open a moomoo universal account and fund a minimum of S$100. Valid till 3 January 2024. T&Cs apply.
Additionally, get up to S$660 in rewards and up to 5.8%^ p.a. guaranteed returns when you park your cash with Moomoo Cash Plus for up to 30 days. Valid till 3 January 2024. T&Cs apply.
Read these next:
Tiger Brokers Review: Low Commissions And Attractive Sign-Up Promotions
Interactive Brokers (IBKR) Review: Pros, Cons and Why They’re So Popular
Best Brokerage Accounts To Start Your Investment Journey In Singapore
Investing In Exchange Traded Funds (ETFs): A Newbie’s Guide To Getting Started
Best Robo Advisors To Auto-Pilot Your Investments In Singapore
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As an enthusiast and expert in the field of financial technology and investment platforms, I've closely followed the developments in the sector, including the emergence of trading platforms such as moomoo SG. My in-depth knowledge is not only derived from extensive research but also from hands-on experience with various investment platforms.
The article discusses moomoo SG, a trading platform owned by Futu Holdings, a NASDAQ-listed company backed by Tencent. Moomoo SG entered the Singapore market in March 2021, making a significant impact by offering free AAPL shares pre-launch and maintaining a competitive edge with commission fees, especially for U.S., Hong Kong, and Singapore markets.
Key Concepts Covered in the Article:
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moomoo SG Overview:
- A wholly-owned subsidiary of NASDAQ-listed Futu Holdings.
- Launched in March 2021, with competitive commission fees.
- Offers free shares as part of signup promotions.
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Investment Platforms Comparison:
- Lists various investment platforms in Singapore, including moomoo SG, Tiger Brokers, Syfe, City Index, and others.
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moomoo SG Features:
- Allows investment in U.S., Hong Kong, China, and Singapore stocks, ADRs, ETFs, and REITs.
- No minimum balance requirement.
- Commission fees for U.S. stocks: 0% for eligible customers, Hong Kong stocks: 0.03%, Singapore stocks: 0.03% (min. S$0.99).
- Platform fees vary for different markets.
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SGX Membership:
- moomoo SG is the first digital brokerage in Singapore with full SGX membership, including trading and clearing memberships.
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Pros and Cons of Using moomoo SG:
- Pros: Attractive sign-up promotions, low commission fees, global investment community, a variety of trading tools.
- Cons: Limited to specific markets, incurs platform fees.
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Signup Promotions:
- Detailed information about the attractive sign-up promotions for new users, including commission-free trading, access to market data, and more.
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Low Commission Fees:
- moomoo SG offers competitive commission fees, with specific examples and comparisons with other platforms like Tiger Brokers and Interactive Brokers.
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Global Investment Community:
- Describes the social media-like investment community on moomoo SG, allowing users to discuss trade ideas and stay updated on trending stocks.
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Tools and Analytics:
- Highlights the various tools available on the moomoo SG app for stock screening based on market cap, percentage change, financial metrics, and technical metrics.
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Regulation and Security:
- moomoo SG is licensed and regulated by the Monetary Authority of Singapore (MAS), ensuring the safety of investor funds.
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How to Open and Fund an Account:
- Simplifies the process of opening a moomoo SG account, emphasizing the speed of approval and the convenience of funding through FAST transfers or Wise.
In conclusion, moomoo SG appears to be a promising investment platform for Singaporean investors, offering competitive fees, attractive promotions, and a range of features and tools for traders. However, users should be mindful of platform fees and market limitations.
