Almost every other week it feels like there’s a new investment app in the market. And each time, they’ll be marketed as the “best trading app” or the “cheapest brokerage app”. But more often than not, they end up not being what they say they are.
This time, trust me when I say moomoo is the only investment platform you’ll need to trade US and Malaysia stocks. Whether you’re a beginner investor or a seasoned one, this app offers a blend of advanced features, user-friendly design, and invaluable educational resources that cater to the needs of every investor.
A Comprehensive Moomoo Malaysia Review [2024]
What is Moomoo?
Moomoo is the latest investment platform to arrive on Malaysia’s shores.
Here’s their backstory: Founded in 2018 in California, moomoo quickly set a benchmark for solving investor's challenges with its pro-level trading services and data. By 2021, it made a notable entry into Singapore, becoming a top choice for one in every four Singaporeans.
In 2022, moomoo ventured into Australia, introducing intelligent-assisted technology in investment analysis and winning four awards from Wemoney. The following year, it expanded its innovative platform to Malaysia and Japan, offering comprehensive market information, investor education, and interactive community features.
Additionally, moomoo aimed to revolutionize the Canadian investment scene by providing in-depth market insights and educational tools to help investors navigate and seize opportunities.
What Can You Trade With Moomoo Malaysia?
You will be able to trade US and Malaysian stocks including ETFs, warrants, and REITs with this single platform.
There’s also the option to trade Shariah-compliant stocks as well as to trade with margin, better known as margin trading.
Is Moomoo Safe and Licensed In Malaysia?
Now you might be asking, all of their features sound great but is Moomoo legal in Malaysia? The answer is, YES! Futu Malaysia Sdn. Bhd. ("Moomoo MY") is a Capital Markets Services License holder and is regulated by the Securities Commission Malaysia (SC).
Additionally, it is also a Capital Market Compensation (CMC) Fund Protected whereby an eligible individual investor may claim up to RM100,000 on eligible Malaysia securities/related assets should an unlikely event occur.
What Are Moomoo’s Fees?
Moomoo Malaysia’s pricing and fees can be broken down into three categories.
1. Trading Fees
For the first six months since account opening,
No commission
Platform Fees
To trade US stocks: USD 0.99/order
To trade Malaysia/Bursa stocks: RM3/order
So for example, if you were to invest in Stock ABC, whether for RM100 or RM10,000, you’ll only be charged USD 0.99 for US Stocks or RM3 for Bursa Stocks!
Other fees
2. Margin Rate
Moomoo Malaysia’s margin rate is among the lowest in comparison to other brokerages at a rate of 6.8%.
3. Other Services
No fees are charged for other services like:
Account Opening
Fund Deposit in MYR
Fund Withdrawal in MYR
Inactive Account
Transfer Stock in
Moomoo Malaysia Exclusive Launch Promotion: RM1,000* Welcome Reward
To celebrate its official launch, Moomoo Malaysia is offering a welcome reward where you can get up to RM1,000*!
Here’s the deal:
Receive one FREE AAPL stock when you open an account, deposit RM8,000 and hold for 30 days.
Get a RM100 cash voucher* when you open an account, deposit RM500 and hold for 30 days.
*The RM100 cash voucher comprises of RM50 cash coupon + RM50 stock cash coupon. The RM50 stock cash coupon can only be redeemed in cash if you buy stocks.
All in all, you’ll be able to get ~RM1,000 worth of goodies!
Here’s a little trick lah okay – once you’ve deposited the RM8,000 and have received the AAPL stock along with the RM100 cash voucher* (which can be used to buy stocks or even Bitcoin ETFs), wait 30 days then you can withdraw your RM8,000 and keep the goodies. By then you can decide whether to sell the AAPL stock or continue keeping it. But I’m almost certain you won’t do it because the moomoo app will change your experience with investing – that’s how good it is.
What Features Do Moomoo Have?
I’ve been raving about moomoo a lot in this article and I genuinely think it deserves the hype because it is truly an all-in-one super app. In my years of investing, I’ve rarely come across an investment platform that offers as many features as moomoo does. These features (that I’ll get into later) are both easy to navigate yet comprehensive enough for first-time investors and even seasoned ones.
Moomoo Features 1: Heat Map
The heat map is a visual tool used to display the performance of different market sectors in a clear and intuitive manner.
As you can see in the picture above, the colour of each sector indicates its gains or losses, with the intensity of the colour reflecting the strength of the price movement. This means that larger sectors represent larger market caps, and the colour intensity provides immediate insight into sector performance. Then, if you click on each sector, you’ll be able to see a chart of how the overall sector is doing, key stocks that contribute to the market movement of the sector, comments as well as news from said sector.
This tool comes in handy when you are trying to quickly grasp the overall market trends and identify which sectors or stocks are outperforming or underperforming. You’ll also be able to customise your settings such as sorting by market cap, volume, or turnover, and adjusting the number of sectors displayed, allowing for a tailored analysis that matches your investment strategy.
Moomoo Features 2: Market Monitor
The market monitor is a real-time tool designed to help you keep track of unusual activities across all stocks in the markets.
The tool identifies and alerts you to unusual trading volumes and price movements, leveraging filters like market region, price range, and market cap range to tailor the monitoring process to your specific interests or investment strategies.
By using this feature, you’ll be able to stay ahead of market movements by tracking unusual stock activities in real-time. For instance, by identifying stocks with unusual trading volumes and price changes, you might be able to spot potential opportunities or risks early. So, whether you’re looking to capitalize on short-term market fluctuations or want to understand broader market trends, this tool will prove to be very valuable.
Moomoo Features 3: Industrial Chain
The industrial chain feature provides a comprehensive overview of the various stages, companies, and associated stocks within specific industries, aiding in the detailed analysis of the production and distribution processes.
This tool offers insights into the upstream, midstream, and downstream sectors, alongside a streamlined process for informed stock selection by categorizing stocks based on their industry segment.
For instance, in the electric vehicle (EV) sector, it highlights the complete chain from raw material suppliers to manufacturers like Tesla, which dominates battery pack production. This feature not only aids in identifying investment opportunities and risks, especially in scenarios like fluctuating raw material costs but also promotes strategic portfolio diversification by encouraging investments across different parts of the industrial chain.
Moomoo Features 4: Institutional Tracker
The institutional tracker is a tool designed to monitor and display the investment activities of established institutional investors.
This feature provides you with insights into the quarterly position reports of these institutions, showcasing data such as the market value of holdings, changes in holdings, the number of stocks held, and changes in the number of stocks held. It offers a comprehensive overview, industry distribution of holdings, and a detailed list of holdings for each institution, allowing you to discern the investing logic, trends, and strategies of these major players in the market.
The information you’ll get from this tool, helps you understand the strategic moves of institutional investors and can guide you in aligning your investment strategies with market trends, identifying potential investment opportunities, and avoiding sectors or stocks that are being heavily sold off. Moreover, it offers clues about market sentiment and potential future movements, enabling more strategic portfolio management.
Moomoo Features 5: Investment Themes
Just as the name suggests, the investment themes feature offers a curated insight into specific industries, interests, or institutions, providing you with a comprehensive overview that includes charts, company lists, shared comments, and relevant news related to the chosen theme.
This tool is particularly useful for investors who are just starting out, as it simplifies the complex world of investing into more digestible, themed segments. New investors can benefit from the structured approach to understanding market dynamics, identifying trends within specific industries or interests, and gaining insights from the shared experiences and strategies of more seasoned investors.
Moomoo Features 6: Trend Projection
The trend projection tool is designed to enhance the efficiency of analyzing candlestick charts by enabling you to quickly find stocks with candlestick patterns similar to a target stock and makes it easier to predict what might happen next with the stock you're interested in.
The way it works is that by comparing the patterns and trends of two candlestick charts through a specific algorithm, the tool calculates their similarity and offers forecasts on the future trend of the target stock based on the probability distribution obtained from historical trends of other stocks with similar patterns. This provides a solid foundation for speculating on future stock movements (if that’s what you’re into), making it a valuable tool for those looking to stay ahead in fast-moving markets.
Usually, in order to get the information this tool offers, it takes a lot of time, manual labour and advanced knowledge of technical analysis. So, although this feature may be a bit of a stretch for beginner investors to use, it’s definitely one that seasoned investors who rely heavily on technical analysis will appreciate.
Moomoo Features 7: In-Depth Insights Into A Company
So far, I’ve been explaining some of the key tools that moomoo offer however, there’s an overarching feature that I’ve yet to mention – company analysis.
Typically, when you’re using an investment platform, you’ll be able to get some information on the specific company you’re planning to invest in like its share price movement and capital flow. However, Moomoo’s company analysis goes way beyond that.
You’ll be able to get an in-depth insight into a company including the company’s valuation, market distribution, revenue breakdown, income statement, cash flows, shareholders, and insider activity to name a few. Generally speaking, everything you can find on a company’s financial report, you’ll be able to find in Moomoo’s company analysis.
Moomoo Features 8: Comments and News Section
Similar to the company analysis, the comments and news section is also an overarching feature that can be used in addition to the six tools mentioned above.
For the comments section, it sort of works like X (previously known as Twitter) whereby, moomoo users can share their opinion or investment strategies with other users. Here’s the catch, since any user can comment their thoughts, it might not be the best feature to use if you want to make an informed investment decision. Perhaps using it to get a better understanding of market sentiment would be smarter.
As for the news section, depending on how you come across it, it might provide you with news on a specific company, industry or even investment theme. And of course, the news sources are credible and reliable, mostly coming from new portals like Yahoo Finance, Wall Street Journal and Bloomberg.
Moomoo Features 9: Learn More About Investing
I think a common obstacle when it comes to starting one’s investment journey is that people don’t know where to begin and there’s too much information out there that it can feel very overwhelming, very quickly.
Knowing this, the moomoo app offers a tab where you can learn more about investing. There are articles on top-performing stocks, beginner guides and even courses on technical analysis and the overall economy. It’s really like Investment 101 lah!
Moomoo Features 10: Paper Trade
Along that same note of learning more about investing, moomoo also offers a feature called Paper Trade. This feature allows you to engage in simulated market trading without risking actual money. Think of it as a practical lesson in addition to the theoretical one.
This tool uses real market data to enable new and experienced traders, to practice trading, test out investment strategies, and familiarise themselves with various trading scenarios. Through paper trading, you can track the performance of your hypothetical investments, see the potential outcomes, and learn from the experience without the financial consequences of real trading.
It’s worth noting that while paper trading offers a safe environment to learn and experiment, the emotional and psychological pressures of real trading can differ significantly. Therefore, while paper trading is an excellent way to build foundational knowledge and skills, transitioning to real trading should be approached with caution.
Step-by-step Guide: Moomoo Malaysia Account Opening
Usually, with an investment platform, it takes quite a while to open an account because there’s an endless number of questions you need to answer and fill in. But with Moomoo Malaysia, it takes less than 5 minutes. Here’s how you can do it.
1. Fill in your Personal Details
Click here and start filling out your personal details like your full name, gender, marital status, birthday and so on.
2. Verify your identification
You’ll be required to upload a picture of your identification card (IC) for both front and back. And as usual, make sure it’s clear, and doesn’t have any glares.
3. Provide your Residential Address
Fill in your address and confirm if it’s the same address you’re currently residing in; otherwise, include your residing address as well.
4. Fill in your Tax Information
Most of the questions should already be answered based on your personal details so you’ll only need to fill in your Tax Identification Number (TIN). It’ll look something like this: IG 12345678912.
5. Provide other information
Some of the information you’ll be asked to provide here includes your employment status and financial information like your annual income, total assets, investment objective and period.
6. Complete your eKYC, verify your phone number and agree to the Customer’s Declaration
Carry out your electronic Know-Your-Customer (e-KYC) which personally took me less than 30 seconds to do.
Then, verify your phone number with the TAC Moomoo sends you. Finally, agree to the Customer’s Declaration.
In just six simple steps, your moomoo Malaysia account should be up and running within 1-3 business days.
Moomoo Malaysia Review: My Honest Opinion
I've been using moomoo for nearly a year now, and honestly, I find myself consistently reaching for this trading app over the others I have on my phone. Let me explain why.
Starting with its features, unlike many other investment platforms, moomoo offers an extensive range of tools, and what's even better is that they're all available for free! Typically, other trading apps charge additional fees for more advanced features, but with moomoo, I’m glad that that's not the case. Personally, I’m a huge fan of the heat map feature because it offers a visual representation of the overall sector performance, allowing me to quickly identify trends. I also really like the institutional tracker as it is quite interesting to me to see the investment activities of major players in the market.
Moreover, I commend moomoo's commitment to educating investors. Their "Learn" and "Paper Trade" sections are particularly helpful for both beginners and pros, offering articles, guides, and simulated trading experiences to hone your skills without risking real money. Plus, the sense of community in the comments and news section is great for staying in the loop and sharing insights with fellow traders.
Now, when it comes to the UI/UX of the app, if you've explored different investment platforms, you may have encountered some that aren't very user-friendly and can be quite confusing. However, my experience with moomoo has been the opposite. I find it incredibly intuitive and easy to navigate, allowing me to access its tools and features effortlessly. The layout is clean and well-organized, making it a breeze to find what I need without any unnecessary clutter.
Overall, my journey with moomoo has been pretty great over the past year. It definitely stands out as a top-notch investment platform, especially for those who appreciate a balance between advanced trading tools and educational support. So, whether you're a beginner looking to dip your toes into the world of investing or a seasoned trader searching for an all-in-one solution, Moomoo could very well be the super app you've been looking for.
If this article was a little too lengthy for you, I also made a video reviewing the moomoo app. You can check it out here.
Disclaimer
This is not an investment advice. All content produced is solely for education and entertainment purposes only. Please consult your financial advisor before making any investment decision.
All views expressed in the article are the independent opinions of the author, which are not necessarily shared by Futu Malaysia Sdn. Bhd. ("Moomoo Malaysia"). No content shall be considered financial advice or recommendation. Moomoo Malaysia links are included in this post, through which referrals are made and I may receive certain commissions. Please contact Moomoo Malaysia for more information.
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