How to Use Moomoo to Trade, Buy and Sell Stocks? (Beginner’s Guide)
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Moomoo is probably one of the best trading platform in Singapore. Together with tools for trading stocks, options, mutual funds, and forex. Moomoo is designed for both beginner and experienced investors.
- Real-time data and fundamental data
- Advanced analytical tools and charting tools
- Minimal trading fees and transparent fees structure
Best Easy To Use Trading App For Investors
Minimum investment: $0
Stock/ETF Commission Fees: $0 for US, 0.03% for SG, HK
Options Fees: $0.65 Per Contract
Markets: United States, Hong Kong, China, Singapore
Suitable For: Beginner and Experience investors looking to invest in both locally and internationally.
From setting up an account, funding it, trading stocks, options and mutual funds to manage your portfolio efficiently. Let’s take a look at how to use Mooomoo for your investment as a new or seasoned investors aiming to maximize your financial growth opportunities.
KEY TAKEAWAYS
- Moomoo facilitates a variety of investments with a focus on user experience and affordability.
- The platform’s robust trading tools cater to different levels of investor expertise.
- Real-time data and analysis on Moomoo help you make informed trading decisions.
Step 1: Getting Started with Moomoo
Ok now, getting started with Moomoo is actually pretty easy and it begins with signing up to your Moomoo Account and familiarizing yourself with the basics of this user-friendly trading platform.
Setting Up Your Moomoo Account
To start trading with Moomoo, you’ll need to set up an account. Follow these concise steps:
- Open a Moomoo Account: First open Moomoo with this LINK then fill in the details with your Singpass. The whole sign up process take me less than 10 minute. To get the detailed, step-by-step process (with screenshots), visit “How to Open and Fund Moomoo Account“.
- Make a Deposit: Once your account is active, fund it to begin trading. Moomoo offers a straightforward process without the need for a minimum deposit, making it accessible for investors with varying budgets.
- Understand Fees: Moomoo users can benefit from commission-free trades for US market and low fees for SG and HK markets.
Step 2: Funding and Managing Your Portfolio
Next, you need to get an basic understanding how to fund and manage your portfolio.
Deposit Funds
To start trading on Moomoo, you’ll need to fund your brokerage account. And for Moomoo you can fund your account by one of these few ways:
- Instant deposit via DDA (recommended)
- Bank transfer
- PayNow
- Transfer via Wise
Once you’ve funded your account you can keep your money idle in one of the the 2 places:
- Do nothing, and keep your fund at normal Moomoo account where you can directly start trading stocks at low fees.
- Transfer your idle cash to your Cash Management Account (Moomoo Cash Plus) where you can earn high interest on your idle cash while waiting for opportunity to invest.
Navigating the Interface and Tools
Moomoo’s intuitive interface provides a range of tools to help you manage your portfolio. You can view your balance, check performance, and access real-time market data.
Moreover, with Advanced Charting features, you’re equipped to analyze securities with precision.
- Use the ‘Portfolio’ section to monitor your investments.
- Access ‘Real-time Quotes’ for up-to-the-minute pricing information.
Building an Investment Strategy
Your investment strategy should reflect your risk tolerance and investment objectives. Moomoo supports a variety of investment strategies and offers educational resources to fine-tune your approach.
- Define your financial goals: whether for the short term or long-term.
- Assess your risk tolerance: be realistic about how much risk you can handle.
- Select your investments: based on thorough research and market analysis.
Understanding Fees
Like all brokerage, you should understand the fees involved when trading with Moomoo.
Below is a quick summary on the fees for Moomoo in the different stock markets.
Market | Moomoo Brokerage Fee | Min. Commission | Platform Fee | Custodian Fees | Industrial Avg. Commission Fee (%) | Industrial Avg. Min. Commission |
---|---|---|---|---|---|---|
Singapore (SGX) | 0.03% Trade Value | SGD $0.99 | 0.03% Trade Value (Min. SGD $0.99) | No custodian fees | 0.22% | SGD 25 |
United States (NYSE and NASDAQ) | $0 for Lifetime | USD $0 | USD $0 (USD$0.99 thereafter) | USD $0.01 to $0.05 Per Share | 0.30% | USD 15 |
Hong Kong (HKEX) | 0.03% Trade Value | HKD $3 | HKD $15 | No custodian fees | 0.25% | HKD 100 |
China H-Share (HKEX) | 0.03% Trade Value | HKD $3 | HKD $15 | No custodian fees | 0.25% | HKD 100 |
China A-Share (SZSE & SSE) | 0.03% Trade Value | CNH ¥3 | CNH ¥15 | No custodian fees | 0.25% | CNH 100 |
Step 3: Using Moomoo to Make Trades
Now, this is what you are here for. I will quickly go through the few types of trades you can make with Moomoo, giving you an idea on what types trades you can make on Moomoo.
- Stocks, REITs, ETFs
- Options
- Mutual Funds
- Forex
Making Stocks Trades on Moomoo
When you’re ready to buy or sell stocks using Moomoo, you have a range of order types at your disposal:
- Market Orders are executed immediately at the current market price.
- Limit Orders allow you to set a specific price at which you want to buy or sell.
Order Type | Description | Use Case |
---|---|---|
Market Order | Buy/Sell at the best available price | Ideal when you want to execute a trade quickly |
Limit Order | Set your price to Buy/Sell | Useful for targeting a price point and controlling costs |
To get started in trading stocks on Moomoo, here is what you’ll need to do:
- Open the Moomoo trading app and navigate to the desired market.
- Choose the stock and select the ‘Trade’ button.
- Pick between a market or limit order.
- Enter the quantity and, if applicable, the price for your limit order.
- Confirm and submit your trade.
Making Options Trades on Moomoo
When trading options on Moomoo, you’ll find it to be pretty intuitive.
- Start by navigating to the Detailed Quotes page of your chosen stock.
- Then tap on Options followed by Chain to access a comprehensive list of available options.
- The Options Chain displays by default all options for a selected expiration date.
- Input your desired quantity to buy or sell.
- Press trade and start trading the options.
Making Mutual Fund Trades on Moomoo
When trading mutual funds on the Moomoo platform, there are several features and tools at your disposal.
1. SmartSave
SmartSave allows you to automatically invest your uninvested cash into Cash Plus funds, potentially earning returns daily.
Here’s how you can manage your investments with SmartSave:
Activate SmartSave
- Navigate to Funds > Cash Plus > Manage SmartSave.
- Click on Activate Now, then enter your Trading Password.
- Choose the amount to reserve for investment.
To Pause SmartSave
- Simply tap Pause and select the Duration.
Do note, at the time of writing, when using SmartSave, 99% of your Cash Plus position is available for trading to account for value fluctuations and exchange rates.
2. Trading Mutual Funds
To get started in scribing any of the fund, here are the steps:
- Click on the fund you are interested.
- Click “subscribe” or “RSP”.
- Choose how much money do you want to subscribe on the fund
- Confirm your subscription
3. Buying Powers & Auto-redemption For Cash Plus Account
Your funds in Cash Plus also add to your buying power, allowing you to trade stocks and other funds without needing manual redemption.
When placing orders, you have the option to use a market order or a limit order to make your stock purchase without the extra step of redeeming from your Cash Plus Account.
Making Forex Trades (FX) on Moomoo
When trading Forex (FX) on Moomoo, you can engage in the buying and selling of currencies with ease and confidence. The platform equips you with a set of powerful features for a seamless trading experience.
To trade forex on Moomoo, you’ll first need to “Activate” your forex account.
Personally, I don’t trade forex, thus you see that the “Forex” option is not “activated”.
But if you trade forex, simply, click on “Leveraged Forex” and click “Next”.
Then you will be directed to activation confirmation where you can start trading forex on your Moomoo platform.
Want To Read More About Moomoo Singapore?
If you want to know more about Moomoo Singapore, I’ve created a while library of articles on Moomoo simply because I use Moomoo for most of my online trades. You can start exploring about Moomoo Singapore platform below.
- Investing: Full Moomoo investing and trading platform Moomoo Singapore Review
- CMA: Moomoo cash management account Moomoo Cash Plus Review
- Transferring: Step by step process transferring stocks to Moomoo account
- Promotion: Moomoo latest promotion
- Account Opening: How to open a Moomoo Account
- Extra S$20* FREE Cash Coupon.
- Claim 4 x FREE stock bundle worth S$280* with $10,000 deposit & 8 buy trades.
- Get additional S$243* FREE AAPL stock with $100,000 deposit.
- Earn 31 days 6.8%* p.a. return on idle cash with Moomoo Cash Plus
- Low commission fee for SG & HK stocks, ETFs & options.
- Lifetime $0 commission free* for US stocks.
Moomoo Promo: Low Commission + Free Stock
We’re supported by readers who buy via links on our site. While this may influence which products we write, it will not influence our opinions and evaluation. Learn more.
Disclaimer: All views expressed in the article are independent opinion of the author, based on my own trading and investing experience. Neither Moomoo Singapore or its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.
* T&C Applies
Read Also:
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- WeBull SG Promotion! Claim Up to SGD$10,000 FREE + $0 Platform Fee | April 2024 Updated 🟢
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- How to Use Webull Singapore to Trade, Buy and Sell Stocks? (Beginner’s Guide)
- How to Use Moomoo to Trade, Buy and Sell Stocks? (Beginner’s Guide)
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Antony C. is a dividend investor with over 15+ years of investing experience. He’s also the book author of “Start Small, Dream Big“, certified PMP® holder and founder of IncomeBuddies.com (IB). At IB, he share his personal journey and expertise on growing passive income through dividend investing and building online business. Antony has been featured in global news outlet including Yahoo Finance, Nasdaq and Non Fiction Author Association (NFAA).