Discover the Art of Purchasing Options on Moomoo: A Simple Guide for Everyone
Want to invest with Moomoo? Here’s what you need to know.
Moomoo is a top-rated online trading platform based in Silicon Valley that lets folks in the US, Australia, Malaysia, Singapore, and Japan buy and sell stocks. Moomoo’s app, rated highly across both iOS and Android platforms, is designed to be user-friendly, even for beginners. Plus, it boasts loads of tools that let you trade for free and make informed choices.
One of the things to note about Moomoo is that they don’t take any trading fee and give full access to massive options exchanges worldwide like the New York Stock Exchange, NASDAQ, and the CBOE, right from their user dashboard. And if you’re new to this, Moomoo offers a slew of educational resources that can help you get started.
Sure, Moomoo has its downsides, such as limited support for specific asset classes and high fees for transferring assets. But on the bright side, it offers dozens of pre-set options strategies, commission-free trading, access to the largest exchanges, and a robust mobile app along with several other advantages.
So, how do you buy options on Moomoo? It’s fairly straightforward. Whether you’re using the app or their desktop platform, just log into your account, select the stock and the expiry date of the option, and place your order. Remember, the minimum order size when buying options in Moomoo is one contract, which equals 100 shares of that stock. Don’t worry; this is standard in the industry.
As for trading timing, Moomoo’s operating hours for options are from 9:30 am to 4:00 pm EST. And a word of caution, while options trading isn’t available post- or pre-market, select ETFs and ETC options might trade until 16:15 EST.
In addition to trading, Moomoo has tools to help you analyze your investments’ performance. You can calculate potential profits, pinpoint breakeven points, track unusual options activity, and more. And the resources don’t stop there. Moomoo even offers financial reports on all the stocks listed on their platform, so you can make informed decisions before investing.
What it costs to trade with Moomoo: trading US-based stocks and ETFs on Moomoo doesn’t cost you anything. There are no platform fees, and access to Level 2 Market Data is free. Trading US-Based Options, too, is commission-free, with a contract fee of $0.65 per contract.
Starting with Moomoo is straightforward. Just head to their website, click Sign Up and fill in a few details. When you do, you’ll even get 15 free stocks, an extra share of Tesla or Google, and a cash coupon!
Moomoo’s mobile app has gotten positive reviews from users for its usability and features. However, the company has been called out for slow support response times.
Most importantly, your investment with Moomoo is safe. They’re registered with the Securities and Exchange Commission (SEC) in the US and insured by the Securities Investor Protection Corporation (SIPC), providing coverage of up to $500,000 per account, including $250,000 for cash claims.
So, whether you’re an active investor looking to save in trading fees in the long term, or just starting out, Moomoo offers a comprehensive and intuitive trading platform. There’s no better time to start trading- sign up and get started today!
