One App To Trade US Stocks
Tell me about Moomoo Malaysia.
Moomoo is a prominent online trading and investment platform that empowers global investors and traders alike with professional-grade, easy-to-use tools, data and market insights, all in one super app.
Founded in 2018 in Palo Alto, California, moomoo has spread its success across Singapore, Australia, Japan, and recently Malaysia and Canada. Backed up by the commitment to provide a simplified and accessible investment experience for all investors, moomoo has reached several milestones within a few short years and they are now known as the number one (1) downloaded trading app in Singapore*.
With moomoo, you’ll experience investing in the US stock markets and exchange-traded funds (ETFs). Recognised as Nasdaq-listed with a market capitalisation of over USD 7 Billion (as of 11 October 2023), moomoo provides its users with the necessary technology and resources to make informed investment decisions.
Note:
*Data is determined based on cumulative downloads from the launch date of brokerage trading apps in Singapore for comparison until 11 October 2023 on data.ai.
*Zero Commission for 180 days only. T&Cs and other fees apply. Minimum charges refer to the platform fees for US stocks. Full disclaimers can be found here.
Why should I invest in the US stock market?
The sheer size, depth and liquidity of the US stock market, not to mention the presence of globally influential companies, offer huge opportunities for investors and traders alike to participate in a dynamic and diverse range of assets.
Below are some of the market highlights for your consideration.
| Market Size and Liquidity | Known as the largest and most liquid stock market. It is represented by major indexes like the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite. |
| Regulatory Environment | The Securities and Exchange Commission (SEC) and other regulatory agencies oversee the US stock market and impose laws and guidelines to maintain honest and open trading. |
| Market Structure | The US stock market consists of multiple exchanges, including the New York Stock Exchange (NYSE) and Nasdaq, where stocks are traded electronically. |
| Economic Factors | Fueled by a variety of industries including consumer products, technology, finance, and healthcare. The US stock market is greatly impacted by economic indicators such as GDP growth, job statistics and Federal Reserve policy. |
| Investment Opportunities | Offers a wide range of investment opportunities across various sectors and industries, including well-established multinational companies and innovative tech startups. |
| Currency and Exchange Rate | Denominated in US Dollars (USD), which is the world’s primary reserve currency. |
How can I start investing?
Investing is now made accessible through online trading platforms. As compared to the traditional way, it is convenient and cheaper.
With moomoo, you can invest in the US stock markets through their mobile app or website. With no minimum deposit to open an account, simply sign up and set up your moomoo account anytime, anywhere.
Are there any fees that I should be aware of?
Yes, there are. You can find the fees below and if you require more details, do not hesitate to contact moomoo’s representative. For US stocks, ETFs, and REITs:
- Commission Fee: USD 0*
- Platform Fee: USD 0.99 per order
- Stamp Duty for Shares: RM1 for every RM1,000 (or fractional part) of the transaction amount, with maximum RM1,000 per trade
- Stamp Duty for ETFs/REITs: RM1 for every RM1,000 (or fractional part) of the transaction amount, with maximum RM200 per trade
- Settlement Fee: USD 0.003 per share, with maximum of 1% *Trade amount
- Securities and Exchange Commission (SEC) Fee: USD 0.000008 *Transaction amount, with minimum USD 0.01 per trade
- Trading Activity Fee: USD 0.000166 per share, with minimum USD 0.01 per trade, and maximum USD 8.30 per trade
- America Depository Receipt (ADR) Custodian Fee: USD 0.01 to USD 0.05 per share
Am I eligible to open an account with Moomoo Malaysia? Tell me the steps.
As long as you are a legal resident of Malaysia holding a valid local address and are 18 years old at the minimum, you are eligible to open a moomoo account. Please prepare the following documents before downloading the app.
For Malaysians:
- Your valid IC
- Your personal details such as tax, employment, financial status
- A valid proof of local address (bank statement, telephone bills, etc. must be issued in the last 3 months which includes your full name, name of the document issuer and your residential address)
For other nationalities:
- Your valid passport
- Your personal details such as tax, employment, financial status
- A valid proof of local address (this would be needed if your residential address does not match the address stated on your ID card)
Here are the steps to open an account with moomoo:
- Download and install the moomoo app
- Click ‘Open Account’
- Follow the instructions and fill in the necessary details
- Verify your identity
- And submit your application!
Note that once all the information has been entered and verified, your account will be approved within 1 to 3 business days. You may check for progress via email and app notifications. If additional documents are required, you will receive an update via email and app notifications as well.
Should you have any questions regarding the account or anything else, you can reach moomoo’s team through Live Chat on their website, call their Customer Service Hotline at 03 9212 0708 or email them via [email protected].
RinggitPlus X Moomoo Malaysia Sign-up Promotion
From 22 April 2024 until 21 October 2024 (“Promotion Period”), qualified customers can stand a chance to take home an Apple iPhone 15 Pro, subject to the campaign’s terms and conditions.
Referring to the T&C, you must be a new Moomoo MY customer and at least 18 years old with a valid Malaysia IC/MyKad to qualify for the promotion. You also must make a minimum of RM200 deposit to a Moomoo Malaysia universal account during the Promotion Period to be eligible.
Those who are not eligible for this sign-up promotion include
- Applicants with an existing Moomoo MY universal account
- Permanent, contract, part-time, or temporary employees of Moomoo MY and Jirnexu Sdn. Bhd. (including its subsidiaries and related companies) and their respective immediate family members
- Employees of agencies, partners, and consultants with ongoing engagements with Moomoo MY and Jirnexu Sdn. Bhd. during the Promotion Period
- Any person who has committed and/or committed fraud and/or abuse of the system, and/or any other scenario deemed as fraud or abuse of the system by Moomoo MY and/or Jirnexu Sdn. Bhd. at any point of time during or after the Promotion Period
Capped at 9 units, the iPhone 15 Pro premium sign-up gift is for qualified applicants (chosen by Moomoo Malaysia) who deposit a minimum amount of RM500 into the Moomoo MY universal account during the Promotion Period.
If you don’t win, you will still get a guaranteed RM50 Touch ‘n Go E-Wallet Credit. However, this applies to the first 1,000 qualified applicants who do not fulfil the premium gift above only. This is capped at 1,000 units!
For more details, do check out the T&C and if you need assistance, you can email us at [email protected].
Disclaimer: Trading and/or investment involve substantial risks, and the decision to engage in such activities is solely at your discretion and is not affiliated with or attributable to RinggitPlus.
