Moomoo Financial Canada stock trading review: Is moomoo good for Canadians?

Moomoo Financial Canada is one of the latest trading apps to hit the Canadian market and stands to compete with homegrown platforms like Wealthsimple and Questrade.  

Moomoo makes it easy to learn the markets with powerful tools for virtual portfolios and paper trading. Its vibrant moo community is full of traders you can follow — whether you're into stock scalping, day trading or testing out options strategies. With Moomoo, you get the tools, insights, and research you need — all in one place.

Who moomoo Financial Canada is for

Moomoo Canada's low-cost trading fees and rich educational tools make it a solid pick for new investors who want to learn as they go. Active traders will appreciate the platform's sleek design, powerful charts, and deep market insights.

But here's the catch: Moomoo charges $0.03 per share for Canadian stocks with no cap. That's great for small trades—buy 50 shares at $25 each, and you'll pay just $1.49 in fees. But if you're moving significant volume, say 2,000 shares, that fee balloons to $60. In contrast, platforms like Wealthsimple or Questrade now offer zero-commission trading on Canadian and U.S. stocks when you trade online, making them a better fit for high-volume investors.

Pros and cons

Get started with moomoo

Moomoo Canada app | Dashboards, ease-of-use and experience

Moomoo’s investing app allows users to trade via their desktop or mobile device, but it doesn’t offer a web-based online brokerage. Instead, you must download and log into the moomoo app to access your account and place trades. 

The good news is that the app is very capable, and includes enough advanced charting and stock analysis tools to satisfy advanced traders. Here’s a closer look at some of moomoo’s top features: 

Customer service and support

If you can’t find answers to your questions through its comprehensive website help centre, moomoo offers telephone and email customer support, along with 24/7 online chat support.

Phone: 1-888-721-0610 (English), open Monday to Friday 8:30 to 4:30 PM

Email: [email protected]

Moomoo reviews and ratings

The moomoo app has a 4.6 star rating on The App Store¹, and 4.5 stars on Google Play². 

The platform has a Trustpilot Canada rating of 3.3 out of 5 stars³, which is considered an average score. What some might find concerning is how the ratings break down. While 49% of Truspilot reviewers have given moomoo a 5-star rating, 40% have issued a 1-star rating, the lowest possible score. Only 11% of reviews fall somewhere in between. This may or may not indicate that people either love moomoo, or hate it. 

I perused user feedback on Trustpilot as well as several moomoo Canada Reddit threads. Positive comments tended to focus on moomoo’s generous new customer promotions, advanced trading tools, and ease of use. However, many users questioned how useful moomoo was for Canadian investors, given that platforms such as Wealthsimple and National Bank Direct Brokerage (NBDB) offer free stock and ETF trades. And I saw a couple of comments from investors who considered Interactive Brokers (IBKR) to be a better platform for active traders. 

What I like and don’t like about Moomoo Direct Brokerage

At first glance, moomoo looks very intriguing. It provides access to thousands of Canadian and US stocks and ETFs with low minimum trading fees, and has a large library of educational content for new investors, along with a free practice account. 

The problem is, many other brokerages do the same things moomoo does, but they do it better. If low fees are your main concern, you can get free trades through Wealthsimple, Desjardins, or NBDB. And platforms such as IBKR or some of the big bank brokerages have more to offer active traders. And most brokerages offer more than four account types, which is a big knock against moomoo. 

With that in mind, moomoo has only been operating in the Canadian market since 2023, and it may expand its capabilities over time. 

How moomoo Canada compares

Wealthsimple vs. moomoo Canada

Questrade vs. moomoo

Moomoo vs. Webull

Moomoo Canada promotion

At the time of writing, moomoo Canada is offering a few promotions. Details are as follows: 

• Sign Up Bonus: Join today and receive a $2,000 commission rebate card—a great head start for new investors.
• High-Yield Return Offer: Deposit any amount and enjoy a 6% p.a. return for 60 days, giving your money a quick performance boost.
• $50 Stock Cash Coupon: Deposit just $100 and get a $50 stock cash coupon, perfect for building your investment portfolio.
• $200 Stock Cash Coupon: Go bigger with a $2,000 deposit and earn a $200 stock cash coupon, adding even more value to your investment.
• The promotions listed above end on May 31st, 2025, at 23:59 PM ET

Keep in mind that terms and conditions apply for all moomoo promotions, so make sure you understand the rules before participating. Also, stock cash coupons can be redeemed by placing eligible stock orders on the moomoo platform. Upon order completion, the cashback is credited to your moomoo account. 

Related read: Best brokerage account promotions

Take advantage of these moomoo promotions

Moomoo contact information

On trading days, you can contact moomoo customer service at 1-888-436-0085 (toll-free) between 8:30 a.m. and 4:30 p.m. EST. Email support is available at support.ca.moomoo.com.

Moomoo eligibility criteria

You must meet the following requirements to be eligible to open any type of moomoo Canada account:

• Have a Canadian Social Insurance Number (SIN) 
• Have a valid residential address in Canada 
• Mobile phone number 
• Valid personal email address 

Additionally, certain accounts have specific requirements. For example, you must be 18 or older to open an individual cash, TFSA, or RRSP account. (For an RRSP account, you must be 19 years old in BC, NB, NS and NL). To open a margin account, you must be 21 or older. Lastly, RRSP accounts require you to have a minimum of $7,000 in net assets. 

How to open a moomoo account in Canada

Here are the basic steps to open a moomoo Canada account: 

1. 1 Complete an application on the moomoo Canada website or app, which you can download from the website, the App Store, or the Google Play store. 
2. 2 Moomoo will approve your account within two business days, once your information has been verified. If further documentation is required, you’ll be notified by email. 
3. 3 Once your account has been approved, you’ll receive an email containing your account details. You’ll be prompted to log into your account and create your permanent password. 

Sign up with moomoo

FAQs