Moomoo Malaysia Review (2025): Still The Best Stock Broker in Malaysia

Estimated reading time: 17 minutes

Ever since their launch in Malaysia in late February 2024, Moomoo Securities Malaysia Sdn. Bhd. (“Moomoo MY”) has taken the local financial and investment landscape by storm, reaching 500,000+ users locally within 7 months. 

So, who is Moomoo MY? Are they a safe and legit stock broker? How’s their pricing/fees compared to other local brokers? Let’s find out!

Sign-up Rewards

Moomoo MY is now offering the Welcome Rewards where worth up to RM1,800 including Cash rewards & *Tesla shares*! What you can get include:

1. RM100 Cash Rewards when you deposit RM1,000 or more!

• RM50 Cash Coupon x1
• RM25 Stock Cash Coupons x2

2. RM200 Tesla Share when you deposit RM5,000!
3. RM500 Tesla Share when you deposit RM10,000!
4. RM1,000 Tesla Share when you deposit RM30,000 or more, and complete 3 buy trades!

Here’s a special treat for you: get an extra RM20 Exclusive Stock Cash Coupon x2 when you deposit using my Exclusive Code: ZIET11.

Also, other benefits when opening your account:

1. $0 Commission on trades in US/MY/SG/HK/China-A stock markets for 180 days!
2. 5% p.a. Return on Moomoo Cash Plus for 30 days!  (This offer applies only to the first subscribed funds of RM10,000)

Click HERE to quickly open your moomoo account today! (campaign ends on 26 February 2025 (9:59PM MYT)).

Who is Moomoo?

So, in case you are new to the moomoo brand, they are essentially a stock brokerage under the old-timer Futu Holdings Limited, which is a US-based company that is also publicly listed on the US NASDAQ exchange, with a market cap of 11+ billion USD as of the writing of this blog (early January 2025). Internationally, they have more than 24 million users, with total client assets of almost US$90 billion and have won more than 100s of awards worldwide.

With Malaysia being their latest instalment, they are actually operating worldwide in different regions: US (since 2018), Singapore (since 2021), Australia (since 2022), Japan (since 2022) and Canada (since 2023). Their affiliate company, Futu Securities International (Hong Kong) Limited has actually operated in Hong Kong since 2012.

Last year, they also celebrated their six-year collaboration by announcing a new Global Strategic Partnership with Nasdaq. Moving forward, they will continue expanding market access, providing professional-grade data like Nasdaq TotalView®, and introducing more educational initiatives to empower retail investors worldwide.

And guess who witnessed the launch of this strategic partnership, in person, at Nasdaq US? You guessed it right, it was yours truly! Check out my US vlog video here!

In Malaysia, their entity Moomoo Securities Malaysia Sdn Bhd is licensed under the Capital Markets Services License (CMSL) by SC Malaysia, and this is actually a pretty huge thing because they are among the first global digital brokerage firms that are granted such license to offer trading and clearing services here. 

Additionally, Malaysian investors are safeguarded by the Capital Market Compensation Fund (CMC Fund), which provides compensation of up to RM100,000 for eligible MY securities in the event of financial insolvency due to fraud, defalcation, or mis-selling, reinforcing the platform’s commitment to investor protection.

Moomoo’s Track Record in the Industry

And just like Interactive Brokers – my all-time favourite stock broker, Moomoo MY’s parent company is highly regulated and are required to publish their company financials every 3 months, so this level of transparency will definitely give us an additional layer of comfort. I’ll let their income statement below speak for themselves!

Why is that important? Well, being someone that has created content in this finance industry myself for many years now, I have seen countless of brokers come and go with aggressive marketing.

But not moomoo, they have been very consistent in improving their technology and improving their customer support. You can check out all the amazing rewards they offer to users right here!

In my opinion, a good company is a company that keeps up with their marketing while continuing servicing their clients, because that to me, is a sign of commitment to building their own brand, and they won’t shy away from challenges or hiccups along the way. After-service is equally important as the product itself. After all, you’re entrusting your hard-earned money with a digital broker, so it’s always good to be extra skeptical.

Fees and Numbers!

Now, let’s talk about fees and all the numbers you need to know to trade stocks and ETFs on moomoo, and damn have I got good news for you! TLDR: They offer stock trading at one of the lowest prices in Malaysia. Period.

At the moment, you can trade the MY, US, SG, HK and China A Stocks, ETFs and more on moomoo, which is more than enough for the average Malaysians like myself. Unless you’re keen to explore the European market for further withholding tax saving strategy,  this video could be what you’re looking for. In any case, you’ll do just fine with moomoo!

Malaysia Stocks, ETFs, REITs and Warrants

For Bursa Malaysia, you would only have to pay a (i) platform fee of RM 3/trade + (ii) commission of 0.03% of your trading value. But for the first 6 months from your account opening, they are waiving the commission fee (ii) so you would only have to pay a minimum of RM 3/trade. Still, a steal for every Malaysian out there.

Here’s how they compare against other Malaysian stock brokers with similar offerings in Bursa Malaysia:

If you weigh them against other Malaysian bank brokers, they are still very cheap, offering super competitive pricing.

US Stocks, ETFs, REITs and Fractional Shares

For the US market, you would only have to pay a (i) platform fee of USD 0.99/trade + (ii) commission of 0.03% of your trading value. But similar to their Bursa offering, for the first 6 months from your account opening, they are waiving the commission fee (ii) so you would only have to pay a minimum of USD 0.99/trade. Regardless, with or without that waiver, they are still a lot cheaper than the average 2+ USD that the others are charging. 

Here’s how they compare against other Malaysian stock brokers with similar offerings on the US market:

Back in the days, I used to pay 25 USD per trade with a local bank broker (*cough* tiger bank *cough*), look at how far we have all come.

There are of course Other Fees that are actually charged by the authorities and regulators and this is actually the same across all other brokers that you can find, but usually they are very tiny in nature. For further details, read here. 

Apart from that, happy to share with you that they do not charge any inactivity fees, funding fees, dividend handling fees, or any hidden fees whatsoever, so your account is literally maintenance-free.

For a full list of fee schedules on the other markets offered by Moomoo MY, click here.

Fractional Shares Trading (US)

Yes, Moomoo MY offers fractional shares trading for the US stock market, starting from as low as 5 USD (or ~RM23) only!

It’s really intuitive to trade fractional shares on moomoo, since it’s enabled by default, no additional trading permissions required. NVDA? TSLA? GOOG? AAPL? MSFT? AMZN? META? SPY? VOO? No problem. You can trade fractionals for most of the popular US stocks and ETFs, so affordability will never be a problem already!

Options Trading (US)

Moomoo MY is the No.1 licensed brokerage for US options trading! With a low trading fee, you gain access to free real-time options data and 13 options strategies. All of this is available for seamless trading on both mobile and desktop, allowing you to manage your trades more effectively and potentially earn extra income with ease. To know more, click here.

How to Open a moomoo Account

Account opening with Moomoo MY is as easy as it gets. There is no minimum deposit required, and all you need are:

For Malaysian nationality:

1. Malaysia ID card
2. Personal information (such as tax, employment, financial status)
3. Valid proof of address in Malaysia (i.e. bank statement or telephone bill)

For other nationalities:

1. Passport
2. Personal information (such as tax, employment, financial status)
3. Valid proof of address in Malaysia (i.e. bank statement or telephone bill)

Once all the information provided is verified, your account will be approved within 1-3 business days. Updates on your progress will be sent via email and app notifications.

Click HERE to quickly open your moomoo account today!

Account Funding & Withdrawal

Funding your moomoo couldn’t get any easier and faster than using your typical savings account! You would have 3 options to fund your account, the conventional FPX Express Deposit, GX Bank Express Deposit and Bank Transfer. The first 2 options are the fastest, and would typically take about 5 minutes for your funds to be reflected in your moomoo account, while the Bank Transfer option would take about 1 business day.

Withdrawal is very seamless too. You can only withdraw in MYR to any of your Malaysian bank accounts as long as they are of the same name, and the funds should be received in about 1 business day as well. All things considered, this is as simple as it gets for a brokerage account.

Features of the moomoo Mobile App

If their offerings and numbers didn’t blow your mind away yet – hold still, because their user interface is second to none. It’s packed full of features, smooth as butter, and has everything you need within a few swipes of your thumb!

At a glance, here are the main tabs that you will be swiping across the app, which covers a comprehensive watchlist, overview of all the global stock markets, birds-eye view of your account, money market fund (Cash Plus fund) and much more!

And the visual interface of their stock & etf information: my goodness, how did their UI/UX designer even pack together all the information on the company’s stock quote, real time market data, earnings estimates, financial statements, dividends, and so many more? That’s crazy even thinking about it!

And there’s many more ways for you to stay connected to what’s happening on the market – 24/7 news, free coverage from premium sources (like Bloomberg and Barron’s), earnings and economic calendar, and an earnings hub to summarise every earnings call?! Hey, these are all free-of-charge, no subscription fees whatsoever. Someone call the police!!

But wait, there’s more! You can apply IPO on moomoo, learn about the different industry verticals (via Industry Chain), get a birds-eye view of the performance of various sectors (via Heat Map), and explore various combinations of Investment Themes!

Want to screen for stocks based on certain indicators/metrics that you’d prefer? Are you aspiring to be the next Warren Buffett and want to look for undervalued stocks? Moomoo MY got you covered with their comprehensive stock screener tool!

And before you ask: “How can I know what our Malaysian institutions like Employees Provident Fund (EPF) and Retirement Fund of Malaysia (KWSP) are investing in? Maybe I can take a page out of their investing strategy…” No problem! Moomoo MY have it for you via their Institutional Tracker!

I can go on and on because pictures on my blogs don’t do their app justice – I’ve barely covered the main features, there’s so much more that you’d need to experience yourself. For advanced traders that require more charting tools and screens, you’d be spoiled with the Moomoo MY desktop app. 

Give them a try! It’s free to sign up and maintain your account, with no minimum account balance. Click HERE to quickly open your moomoo account today!

Moomoo Cash Plus

If you’re still unsure what to do with your extra cash, and you don’t want their value to be eroded by inflation, look no further! Enter – Moomoo Cash Plus, a cash management solution offering you a selection of money market funds (MMF) to generate returns on un-invested funds in your moomoo account. Moomoo Cash Plus offers a selection of money market funds, including Shariah-compliant and USD-denominated funds, offering you the ability to subscribe to their preferred funds seamlessly within the Moomoo app.

This feature is also accompanied with the introduction of Moomoo SmartSave, an automated service designed to maximise returns on idle cash, and it offers instant redemption for investments, so that you can generate positive yields on idle cash automatically (with no time lag).

Room for Improvement

There is always, of course, room for improvement, because, who doesn’t want a product that keeps refining and refining itself to be the very best version compared to its competitors right?

Caveat, this section gives me the most headache because trying to find a flaw on moomoo is like picking bones out of an egg, especially coming from an investor like myself that doesn’t require too much of a real-time trading experience, most of the features provided is way more than enough for my investing needs. So the “flaws” that follow are not necessarily a flaw, it’s more of a personal preference thing!

For one, their app is too complicated and all-encompassing for both traders and investors that it feels too noisy at times. As a buy and hold investor, I would care less on the level 2 bid/ask spread, short sale analysis, options table, and all the metrics that would appeal to a trader. How I wish there’s a button to turn off those features, or maybe a toggle to switch into “investor-mode” only, that would make the app feel less hectic and much more appealing!

Two, integration with bank accounts. On top of their current Bank Transfer and FPX transfer, I’d like to have the option of linking my bank account (primarily Maybank and CIMB saving accounts) to my moomoo account. That way, I can set a standing instruction to automatically channel funds to my investing account, without the need for any manual intervention – making my investing process as automated as possible. But to be fair, they are now providing that feature, but only with GX Bank Express Deposit, so I believe it’s only a matter of time before they would partner up with more banks to allow for direct account linking!

Conclusion

All things considered, Moomoo MY is hands down one of the best (if not the best) stock broker any Malaysian can trust and leverage on for their wealth building journey. The combination of an amazing mobile app with great user experience, feature-packed for traders and investors of all levels, and super-low commission makes it an outstanding broker of choice for any Malaysians.

With or without my review, I believe the product speaks for itself, and the only way for you to truly appreciate the technology offered by Moomoo MY is to download and try out the free app yourself. I’m sure you won’t be disappointed, because even after years of being their customer (ever since they launched in SG), they have been overdelivering as a digital stock broker in every aspect possible.

If you ever need any help navigating through the moomoo app, this tutorial is made just for you!

Until then, happy investing!

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