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Brokers / moomoo (Futu)
BROKER RIGOR REPORT · VERIFIED 11 OCT 2026

moomoo (Futu): what the sources say

86
Evidence 100%

Key facts

The questions, with sources

QuestionWhat the sources saySource
Main entity
Moomoo Financial Inc. (US) / Moomoo Financial Singapore Pte. Ltd. / Futu Securities (Hong Kong) Limited; entity depends on client country, United States / Singapore / Hong Kong (varies by client)
Listed parent
yes: Futu Holdings Limited (Nasdaq: FUTU, listed 2019-03-08)
Regulation
Major regulator. SEC / FINRA / SIPC (United States): Moomoo Financial Inc., SEC-registered broker-dealer, CRD 283078, FINRA and SIPC member per its Form CRS (Dec 2024); Futu Clearing Inc. (CRD 298769) per Futu About page. BrokerCheck firm page not opened (search did not return it); MAS (Singapore): Moomoo Financial Singapore Pte. Ltd., CMS licence CMS101000, Major Payment Institution PS20200617, per moomoo SG page and Futu 20-F; MAS Financial Institutions Directory entry not opened; SFC (Hong Kong): Futu Securities (Hong Kong) Limited and Panthertrade (Hong Kong) Limited are SFC licensed corporations per Futu 20-F FY2025; CE AZT137, Types 1,2,3,4,5,7,9 per Futu About page; SFC public register not opened; ASIC (Australia): Moomoo Securities Australia Ltd, AFSL 224663 per Futu; also NZ FSP registration FSP1008656 per 20-F; ASIC register not opened; Japan FSA / Kanto Local Finance Bureau (Japan): moomoo Securities Co., Ltd. (moomoo証券株式会社), Financial Instruments Business Operator, Kanto Local Finance Bureau (Kinsho) No. 3335; regulator page is the 2026-06-19 administrative action notice; CIRO / CIPF (Canada): Moomoo Financial Canada Inc., CIRO dealer member and CIPF member per Futu 20-F FY2025; Securities Commission Malaysia (Malaysia): Moomoo Securities Malaysia Sdn. Bhd., Capital Markets Services Licence per Futu 20-F FY2025
Compensation scheme
Yes. SIPC (US securities, via clearing member Futu Clearing Inc.); SGX Fidelity Fund (Singapore-listed securities); Japan Investor Protection Fund (Japan entity, per moomoo JP page) SIPC: up to USD 500,000 including USD 250,000 for cash, as stated on moomoo SG and moomoo CA pages (Futu Clearing Inc. is the SIPC member). SGX Fidelity Fund: up to SGD 50,000 per claimant and SGD 2 million per company, as stated by moomoo SG. Japan Investor Protection Fund coverage stated on moomoo JP page without a limit. Official scheme pages (sipc.org, SGX) were not opened: figures are from the broker's own pages
Client assets separated
Yes. moomoo SG states unused client cash is held in segregated client trust bank accounts at DBS, OCBC and HSBC SG; SG securities in CDP sub-accounts; US securities cleared by Futu Clearing Inc. and held mainly through DTC; 'client funds and securities are segregated from company capital'. moomoo SG help centre: 'All customer cash is held in trust accounts with DBS Bank'. moomoo JP page states full separation of company and client assets under the FIEA. Moomoo Financial Inc. Form CRS: 'The clearing broker will have custody of your funds and securities'. Broker's own statements, not independently verified
Public financials
Yes. Parent Futu Holdings is Nasdaq-listed (FUTU) and files Form 20-F with the SEC. FY2025 20-F: total revenues HKD 22.8 billion, consolidated net income HKD 11.30 billion
Who can open an account
Entity-based: US, Singapore, Hong Kong, Australia (and NZ via FSP registration), Japan, Malaysia, Canada per Futu 20-F FY2025; full eligibility list not verified. Futubull app removed from Mainland China app stores since 2023-05-19 per 20-F; CSRC proposed penalties for unlicensed cross-border services to mainland investors (see legal)
Markets
Singapore service: US, SG, HK, JP, KR stocks, ETFs, REITs, US Treasuries, options, China A-shares per moomoo promotional page; moomoo SG protection page lists custody for US (DTC), HK (CCASS), JP (JASDEC) and SGX (CDP) securities
ETFs / fractional shares
ETFs: yes. Fractional shares: not verified.
US stock commission
moomoo SG official pricing page lists US stocks/ETFs commission as '0* Commission, Lifetime' with no separate promotional tier shown (the asterisk has no footnote in the readable text); the moomoo SG comparison page states a platform fee of USD 0.99 per order and 'Lifetime $0 commission*' for US stocks. External regulatory/settlement fees excluded. US-entity (Moomoo Financial Inc.) and Canada fee pages returned 403 'Operations too frequent' on every attempt, so the US base tier is not verified
Cost to buy 1,000 USD
0.099%. Singapore entity: commission USD 0 plus platform fee USD 0.99 per order on a 1000 USD order = 0.099%. Commission alone is 0. Based on moomoo SG official pricing and comparison pages; US entity rate not readable (403)
Currency conversion
Not stated on the moomoo SG pricing page readable text; leveraged forex product shows USD 0 commission and platform fee. Currency conversion cost for stock trading not verified
Inactivity / account / withdrawal
Not mentioned on moomoo SG pricing page; 'None' per third-party SingSaver table; No custody fee stated in the readable text of the moomoo SG pricing page (custodian vs CDP figures are in an image, not read); moomoo SG pricing page: 0 withdrawal fees for fast transfers below SGD 200,000 to any SG bank; above SGD 200,000, 0 fee only for DBS/POSB transfers

"Not verified" means we could not confirm it from a source we could read. Check the entity and rules for your own country. Education only, not investment advice.

Score

How the points add up

  • Regulation 20 of 20. Licensed by a major financial regulator (see the broker page for the register entry)
  • Client protection 20 of 20. Investor compensation scheme applies: SIPC (US securities, via clearing member Futu Clearing Inc.); SGX Fidelity Fund (Singapore-listed securities); Japan Investor Protection Fund (Japan entity, per moomoo JP page); Client assets held separately from the broker's own (stated in its documents)
  • Transparency 10 of 10. Annual financial statements are public (listed parent or published report)
  • Security record 15 of 15. No incident found in our search of the last five years (not an exhaustive guarantee)
  • Compliance record 14 of 25. 7 regulator or court action(s) in the window; reports from press only are shown but not scored
  • Costs 7 of 10. Buying 1,000 USD of a US stock or ETF: 0.099% commission at the published base tier (FX and spread not included)

Points earned of points available. A criterion we could not verify is left out and lowers the evidence share. See how we score.

Record

Security incidents

  • 2021-10-09 Power stoppage caused network failure at Futu's data centre; moomoo app showed positions and assets as zero for many users; near-expiry options lost value for some clients; core services restored within about two hours (before 2021-10-11 window, flagged) Customer funds lost: not verified. Outcome: Founder apologised; compensation for affected clients planned (press) source older than 5 years
Record

Regulator and court actions

  • 2024-11-26 FINRA: USD 750,000 fine and censure on Moomoo Financial Inc.: influencer marketing ('zero commission' without fee disclosure), supervision and recordkeeping, options communications filings, missing Reg S-P privacy notices to about 450,000 customers Outcome: Neither admitted nor denied; official FINRA Disciplinary Actions report (Jan 2025) confirms USD 750,000 fine and censure, action dated 26 Nov 2024. Earlier press source: https://altswire.com/moomoo-financial-fined-750000-for-misleading-social-media-marketing/ source
  • 2025-12-11 FINRA: USD 125,000 fine on Moomoo Financial Inc. for failing to report options positions to the Large Options Positions Report and inadequate supervisory procedures Outcome: Settlement; press (FINRA AWC/disciplinary-action page not found in search results) source
  • 2022-12-30 China Securities Regulatory Commission: CSRC announced inquiries into Futu's cross-border services for Mainland China investors; Futu says it took rectification measures; Futubull app removed from Mainland China app stores since 2023-05-19 (disclosed in Futu 20-F FY2025) Outcome: Disclosed in Futu's annual report; no outcome stated there source
  • 2026-05-22 China Securities Regulatory Commission (Shenzhen bureau): Prior penalty notice (事先告知) to Futu: proposed fines of about CNY 1.85 billion plus confiscation of illegal gains for unlicensed securities, public fund sales and futures business for mainland investors; proposed personal fine of CNY 1.25 million on the founder/CEO (as named in the CSRC notice per press) Outcome: Proposed, not final per press (The Paper, Caixin; Xinhua 2026-05-22 confirms the action against Tiger, Futu and Lakeshore without per-firm amounts). CSRC's own announcement page not found in search results. Caixin: https://www.caixinglobal.com/2026-05-25/china-proposes-338-million-in-penalties-against-futu-up-fintech-102447381.html source
  • 2026-06-05 Japan Securities and Exchange Surveillance Commission (SESC): SESC recommended administrative action against moomoo Securities Co., Ltd.: at least 77 US-listed ETFs/ETNs wrongly shown as NISA-eligible (2025-02-21 to 2025-05-27; 59 customers traded 25 of them), repeated with one more ETF (Nov 2025-Jan 2026); careless and unequal customer remediation; refusal of transfer-out requests for domestic listed stocks and investment trusts; no suspicious-transaction review for at least 1,531 refused applicants (Sep 2023-Jul 2025); weak system and cybersecurity controls; weak management oversight Outcome: Recommendation to the Prime Minister and FSA Commissioner under FIEA Article 51 (official SESC page) source
  • 2026-06-19 Japan FSA / Kanto Local Finance Bureau: Partial business suspension order (no solicitation or acceptance of new account openings from 2026-06-19 to 2026-09-18) and business improvement order against moomoo Securities Co., Ltd. for the SESC findings above (false statements to customers on NISA eligibility, breach of duty of care on custody transfers, suspicious transaction reporting gaps, systems/cybersecurity control weaknesses, governance) Outcome: Orders issued; written reports due 2026-07-21 and quarterly thereafter (official Kanto Local Finance Bureau page). Press: https://www.caixinglobal.com/2026-06-08/japan-watchdog-seeks-penalties-against-futus-moomoo-unit-102452250.html ; company notice page returned 403 source
  • 2026-08-26 Osaka Exchange / Japan Exchange Regulation: Censure of trading participant Moomoo Securities Japan Co., Ltd. and request for a business improvement report over the same NISA, book-entry transfer, suspicious-transaction review, systems and governance failures; conduct deemed a breach of just and equitable principles of trade Outcome: Censure and business improvement report requested; no monetary fine (official OSE/JPX document) source

Actions reported by press only are shown and not scored.

Not scored

Other reports

  • 2026-06-19 Not a breach: Japan's Kanto Local Finance Bureau found moomoo Securities Co., Ltd. had inadequate system risk assessment, cybersecurity management, incident/problem management, monitoring and system audits, and that management did not act on known issues (part of the administrative action, see legal). No customer data breach or hack was reported source

Reports that are not security incidents or regulator actions against the broker, shown for completeness and not scored.

Summary

Key facts in five lines

  • Futu Holdings is Nasdaq-listed and its FY2025 20-F lists regulated subsidiaries in the US, Hong Kong, Singapore, Australia, Japan, Malaysia and Canada [source 9].
  • moomoo SG states SIPC coverage up to USD 500,000 (incl. USD 250,000 cash) via Futu Clearing Inc. and client cash in segregated trust accounts at DBS, OCBC and HSBC SG [source 10].
  • moomoo SG's official pricing page lists USD 0 lifetime commission on US stocks/ETFs; a USD 0.99 platform fee per order is stated on its comparison page [sources 12, 2].
  • FINRA fined Moomoo Financial Inc. USD 750,000 in November 2024 (official report) and, per press, USD 125,000 in December 2025 [sources 4, 5].
  • Japan's Kanto Local Finance Bureau suspended new account openings at moomoo Securities for three months from 2026-06-19 and issued a business improvement order; OSE censured the firm on 2026-08-26 [sources 14, 15].
Questions

Questions about moomoo (Futu)

Is moomoo (Futu) safe?

We do not give a yes or no. We record its regulation (SEC / FINRA / SIPC, MAS), whether an investor compensation scheme applies, and what we found about incidents and regulator actions. Read the sections above, and check which entity holds your account.

Does moomoo (Futu) charge commission on US stocks?

moomoo SG official pricing page lists US stocks/ETFs commission as '0* Commission, Lifetime' with no separate promotional tier shown (the asterisk has no footnote in the readable text); the moomoo SG comparison page states a platform fee of USD 0.99 per order and 'Lifetime $0 commission*' for US stocks. External regulatory/settlement fees excluded. US-entity (Moomoo Financial Inc.) and Canada fee pages returned 403 'Operations too frequent' on every attempt, so the US base tier is not verified

Sources

Where this comes from

Not verified: US-entity fee page (moomoo.com/us/pricing), moomoo.com/pricing, Canada fee page and moomoo JP newsroom notices all returned 403 'Operations too frequent' on every attempt, so the US base retail tier is unverified; cost figure is for the Singapore entity (USD 0 commission + USD 0.99 platform fee). Protection limits (SIPC USD 500k, SGX Fidelity Fund SGD 50k) come from moomoo's own pages, not the schemes' official pages. Direct regulator register entries (FINRA BrokerCheck, MAS directory, SFC, ASIC) were not opened; licences are sourced to Futu's 20-F, Form CRS and the Kanto LFB notice. The December 2025 FINRA USD 125,000 fine and the CSRC May 2026 prior notice remain press-sourced (official pages not found in search results). Fractional shares and FX fee not verified. Three incident searches (data breach, hack/accounts, outage/cyber attack) found no customer data breach or hack since 2021-10-11.

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