How to use Moomoo to trade in Singapore 2025

Moomoo¹ is a popular digital brokerage that allows customers to buy and sell assets, including stocks, treasuries, and more, on markets in the US, Singapore, Japan, and Hong Kong. You can set up an account online or in the app, and trade easily with nothing more than your phone.

This Moomoo guide looks at how to use the Moomoo app and online system to add money, buy and sell assets, and ultimately withdraw your funds to your preferred account. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What is Moomoo?

Moomoo is a trading platform that launched in 2018 in the US and has been available in Singapore since 2021. You can open a Moomoo account to invest and trade in assets including US, Singapore, Japan, and Hong Kong stocks, crypto, US treasuries, and REITs. Moomoo has over a million users in Singapore, and offers varied fee options depending on asset types, including no commission on US stocks, ETFs & fractional shares.

Moomoo accounts cover both cash and margin products, which means there are options for both new investors and experienced investors looking to access more complex and risky trades. Read on for our full Moomoo for beginners introduction.

This guide is for information only, and does not constitute advice. The value of investments can go down as well as up - get professional advice before you put your money at risk.

How to set up your Moomoo account: Step-by-step guide

Here’s how to set up your Moomoo account easily in Singapore - if you have Singpass, the process can be done in just a few steps²:

1. Download the Moomoo app or open the desktop site.
2. Choose Open Account.
3. Select if you are a Singapore citizen or permanent resident.
4. Follow the steps to enter and verify your email.
5. Complete the online application form using Singpass - or manually if you don’t have Singpass.
6. Submit your application - your account will be verified in 1 - 3 days, and you can then start to trade.

If you have a Singpass account, you can authorise it to pre-populate key information about yourself and your address. This means you don’t need to upload documents to prove your ID or address, although you may still need to confirm information about your employment status, financial status, and tax status.

If you don’t have Singpass, you’ll need this detail, plus your NRIC or passport, and proof of address. This could be a document like a phone bill or bank statement, or a letter from a government agency, for example.

How to fund your Moomoo account

You can fund your Moomoo account3 from a Singapore bank, or a foreign bank - either by making a direct transfer, or by using a platform such as Wise.

If you have a Singapore bank account and want to add money in SGD, Moomoo recommends you use a demand deposit account (DDA) instant deposit.

If you have a foreign bank account or want to deposit in a currency other than SGD, you may prefer to use a platform like Wise. This allows you to deposit in different currencies directly to Moomoo, which can be cheaper than sending a cross-currency transfer from your bank. Here’s how to fund your Moomoo account from Wise, as an example⁴:

1. Log into the Moomoo app, and go to Accounts, then Transfers, Deposit, and Transfer with Wise.
2. Select the deposit currency to get the Moomoo account details to use with Wise.
3. Log into your Wise account, then tap Send in the app and enter the currency and amount you want to send - SGD and USD are supported.
4. Enter the Moomoo details in the beneficiary information box and add your Moomoo ID and name as a reference.
5. Initiate the Wise transfer - you can track it in the app if you need to.
6. In the Moomoo app, you now need to open the Tell us your payment details tab and enter the transfer details so Moomoo can match them to the incoming payment.
7. You'll be prompted to upload your Wise transfer receipt as proof of payment.

How to withdraw money from Moomoo

You can withdraw SGD, HKD, and USD from Moomoo⁵. Available funds for withdrawal include uninvested cash and the funds returned to your Moomoo account once you sell an asset.

Here’s how to withdraw money from Moomoo⁶:

1. Log into Moomoo and go to Accounts, then Transfers and Withdraw.
2. Select the account to withdraw from and the withdrawal currency.
3. Add or select the account to withdraw to, and enter the withdrawal amount.
4. Submit the withdrawal request.

Withdrawal times vary a lot depending on the currency, where the beneficiary account is located, and the value, from 1 - 5 business days in most cases.

Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.

Moomoo deposit and withdrawal fees

There are no Moomoo deposit fees, although your own bank or provider may charge a fee when you send a payment to Moomoo for deposit. This is especially likely if you send a cross-currency transfer - sending from your Singapore SGD account to be received by Moomoo in USD, for example. In this case, the bank may include a fee for the transfer and additional charges for currency conversion.

Using a specialist provider like Wise to add funds in foreign currencies to Moomoo can help avoid or reduce these Moomoo exchange rate charges. Using a service like Wise for any transfer in or out of your Moomoo account, which requires currency conversion, can help you keep more of your money by reducing the overall cost of fees.

There are some Moomoo withdrawal fees which depend on the currency, value, and recipient bank used⁷:

*Details correct at time of research - 14th August 2025.

👀 Check out our detailed article on Moomoo’s commission fees

How to place a trade on Moomoo

Here’s how to use Moomoo to trade⁸ for a market order for instant activation at the live market price⁹:

1. Log into the Moomoo app, and click Accounts, then Assets, and Quick Trade.
2. Follow prompts to add the information required for trading.
3. Click Unlock Trade and enter your 6-digit trading password.
4. Click Buy or Sell and follow the prompts to place your trade.

You can also use a similar process to place a limit order¹⁰ for some asset types, which allows you to set a price at which the purchase will initiate. This allows you to hold off until the value of an asset has reached your desired target range, and have Moomoo automatically start the transaction when it’s the optimal time.

Both the buy and sell processes are guided by onscreen prompts to help you understand the information that’s needed to safely buy or sell any asset available.

How to not use margin in Moomoo

It's helpful to know that Moomoo accounts automatically include a margin facility. This allows you to borrow from the platform to complete a trade. This can make it easier to buy assets quickly, but it is very risky and can mean you lose more than you invested in the first place. It’s not usually a recommended option for newer investors due to this increased risk.

You can not turn off the margin facility in Moomoo. If you don’t want to use this option, you must make sure you have enough funds in your Moomoo account to cover the cost of any trade you make, including any fees¹¹.

Save money when trading international stocks on Moomoo with Wise

Moomoo doesn’t charge a deposit fee when you add funds to your account, but it does charge a withdrawal fee when you take money out of your portfolio in a foreign currency. Your bank may also charge fees on its side. This is where the Wise account can come in handy.

The Wise account is an easy way to hold and exchange 40+ currencies, including SGD, MYR, EUR, CNY, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.26% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 free ATM withdrawals to the value of 350 SGD when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in SGD and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

🚀 Get Started with Wise

Frequently asked questions (FAQ)

How to close a Moomoo account?

To close your Moomoo account, you must ensure you have no funds left in the account and then drop an email to clientservice@sg.moomoo.com requesting the account closure.

Is Moomoo safe in Singapore?

Yes. Moomoo is licensed and regulated by the Monetary Authority of Singapore (MAS). The platform is run by Futu Singapore Pte Ltd, a subsidiary of Futu Holdings Limited, and has additional safety measures like two-factor authentication.

Is Moomoo a good choice for beginners?
Yes, Moomoo is considered a strong choice for beginners due to its user-friendly interface, low costs, and extensive educational resources.