- Yes, trading with Moomoo is safe in Singapore. As with all online brokerages in Singapore, Moomoo is regulated and licensed by the Monetary Authority of Singapore. Its parent company, Futu Holdings Limited, is also listed on NASDAQ (NASDAQ:FUTU). You are also able to freely withdraw your funds (at no extra fees) and close your Moomoo trading account when you deem fit.
- Moomoo is a direct subsidiary company of FUTU Holdings Limited, a Hong Kong-based Chinese brokerage and wealth management company that was founded by CEO Leaf Hua Li. Li hails from Tencent where he's been since 2000 – and Tencent is the biggest investor of Moomoo today.
- If you're looking to withdraw your funds from your Moomoo trading account, know that Moomoo does not charge withdrawal fees. To start your withdrawal, simply login to your trading app, click on "Brokerage Account", select which currency account you're withdrawing from, scroll down, and click on the "Withdraw" option.
- Level 2 market data is basically a more advanced set of buying and selling information that's not usually available in the set of Level 1 market data on tradin platforms. To be specific, Level 2 market data will show you all the orders placed on the market – including the institutions and retail traders' activities, market makers' bids, price, and number of shares they are going for.
- A margin account is often used by experienced investors and traders. It allows you to access advanced trading functions and products such as short selling, margin trades, leverage, futures, and options – all of which requires an equally advanced trader with sufficient experience to execute since it may incur way higher losses. If you're not familiar with these terms and are just starting out as a new trader, it is best to stick to a cash account until you are more proficient.
- No, you cannot buy any major cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), or BinanceCoin (BNB), or any other alternative crypto currencies such as DogeCoin (DOGE) or Tethers on Moomoo. You will only be able to trade stocks, ETFs, ADRs, and REITs across Singapore, Hong Kong, and US markets on Moomoo.