MOOMOO Review: Best Brokerage Singapore – FREE Stock

Hey guys, perhaps you are like me, don’t like to have multiple credit cards, accounts and extra administrative work. The last thing you want is to have multiple brokerage accounts to manage your stock investments. So, someone told me about MOOMOO review saying that they are giving away 1 free Apple share. I’m thinking to myself – Not another brokerage account again!

Sign up here to get 1 free Apple share and many other perks while it lasts!

* Current Incentives and promotions are valid from 1 Jun 2021 to 30 Jun 2021. Actual offers and duration may be subject to change. Terms and conditions apply.

Best Brokerage Singapore: Low Trading Commission

Anyway, so far I have been paying a minimum of $25+ commission. This is the minimum fees everytime I buy or sell my shares via my bank’s brokerage DBS Vickers.

And I understand that nowadays all these up and coming brokerage companies are competing aggressively for market shares. They are offering exceptionally low commission. So I thought why not give it a shot.

MOOMOO Review Commission and Minimum Fees, Best Brokerage Singapore

Source: MOOMOO Fees

Usually the trading fees are broken down to a few different segments. So we have compiled the table here for easy reference. This shows the minimum charges per trade for each of the stock exchanges they offer.

You can see that the commissions are really low. The minimum fee is just SGD 2.49 if you trade in the SGX. 18 HKD if you trade in HKEX. And USD 1.99 if you trade in the US market. This is great especially for those of us who are just starting small. All these charges eat up your returns on investment!

Sign up here to get 1 free Apple share and many other perks while it lasts!

MOOMOO Review: Fast and Seamless Registration

In fact, the low trading commissions and a free apple stock are great. But I think what came as a pleasant surprise was the fast and easy account opening process.

Yes, this is one thing that has been stopping me from opening up accounts with these newer brokerage firms. And sticking to my dinosaur bank’s brokerage, which charges me a relatively high commission.

The thought of having to go through all the paper works is just daunting.

I opened a brokerage account with my bank a long time ago. At first it was to start investing in shares listed in the Singapore Exchange

So, I remember when I decided to venture out to invest in shares listed in the U.S. I still had to fill up some W8-Ben form that I had to download and sign with ink. Then snail mail it to the bank, which took weeks to get back to me.

But the process of signing up with MOOMOO is seamless. And that’s what I really like about this.

If you are a Singaporean like me, the registration process is even faster.

Sign up here to get 1 free Apple share and many other perks while it lasts!

There’s only 3 quick and simple steps to get your account ready, and you can even start trading today.

Step 1: Create an account

MOOMOO Review Step 1

Register a new account with your email and password.


Step 2: Connect to your Singpass

MOOMOO Review Step 2

MOOMOO allows the connection and use of all your information from MyInfo once you link it up with your Singpass.


This allows MOOMOO to retrieve all the relevant details from your Singpass, such as your full name, mailing address etc. This can sometimes be quite tedious to input manually. With this connection, it is just a click away.

Step 3: Fill up basic questionnaire

MOOMOO Review Step 3


Fill up some basic questionnaires, in which most of them are just ticking off checkboxes. And they are lesser and more concise compared to traditional forms that you need to fill.

Really simple!

MOOMOO Review: Access To US, HK and SG Market

What’s more? Remember that if you want to trade shares in the U.S, you need to fill up this W8-Ben form? Here there’s no need to fill in or sign any additional forms for MOOMOO.


Source: MOOMOO / Registration

Yet you are able to gain access to trade in major stock markets in the U.S, Hong Kong and SIngapore.

That’s it, you are done! And most of the time your account will be opened within the same day! Say goodbye to the 2 – 3 weeks lead time.

Sign up here to get 1 free Apple share and many other perks while it lasts!

Best Brokerage Singapore: Free Apple Share + Perks

To top it off, MOOMOO is constantly offering incentives to new sign-ups.

And for now, the attractive deal is 1 free Apple share, worth about USD 130 currently. This will be credited to your account once you have deposited SGD 2700, or USD 2000 or HKD 16,000.

Latest update 1 Jun 2021 – 30 Jun 2021 Additional Condition: Completed 5 successful trades.

That’s the point right. The brokerage firm’s objective is for you to use and trade with their platform for the long term. So, they are incentivising us to transfer funds to start buying shares through its MOOMOO app.

And if it’s saving us on the trading fees, why not.

MOOMOO Review Connect Bank Account

Again, they make it really easy for us to deposit funds to the platform. We can connect our bank accounts to MOOMOO from the app itself.

Just key in your internet banking details, confirm the linkage, and you are done.

MOOMOO Review Deposit Fund


So, making your first deposit is as easy as making an internet bank transfer to your friend.

In no time, you will be qualified for the 1 free Apple share. Congrats, you have made a profit even before investing 🙂

Apart from the free Apple share, you get access to 180 days of unlimited commission-free trades across these stock exchanges. You also get free access to market data in the US and SG stock market. This can be very helpful for your research when finding the next investment idea.

Sign up here to get 1 free Apple share and many other perks while it lasts!

MOOMOO Review: Security and Stability

Licenced by MAS

MOOMOO Review Licenced by MAS

Source: MOOMOO / Licenced by MAS

In case you are wondering if it’s safe to use MOOMOO as a trading or investing platform. They are licenced by the Monetary Authority of Singapore (MAS). This means that they have to pass stringent financial checks before being granted such a financial licence.

Subsidiary of Listed Company Futu Holdings

Best Brokerage Singapore Subsidiary of Futu Holdings listed in NASDAQ

Also, the MOOMOO app and investment products are offered by Futu Singapore Pte Ltd, a wholly-owned subsidiary of Futu Holdings Limited.

And Futu Holdings is a listed company in US stock exchange, NASDAQ.  As you know, public companies are more regulated and heavily audited.

The group is headquartered in Hong Kong and founded since 2007. I believe its experiences in online brokerage and wealth management will enable it to grow its strength in the region.

Source: Yahoo Finance / Futu Holdings Limited Stock Summary

In fact, its share price has been climbing higher lately. But let’s leave the analysis of its stock for another post 🙂

Best Brokerage Singapore: Data, Community and Other Cool Features

MOOMOO Review Data and Stock Information

Of course the MOOMOO app comes with all the necessary stock information. In fact, it has many other data and tools that can aid your research in both the fundamental and technical perspectives.

MOOMOO Review Community Features

Not only that, MOOMOO is also growing its community that you can access in the same app as well. And it can be really helpful for you to ask questions or share investment ideas.

Sign up here to get 1 free Apple share and many other perks while it lasts!

MOOMOO Review Conclusion

In summary for the review of this MOOMOO brokerage platform, I find that the company is really putting its customer experience at its forefront of product design. By making the registration process really simple and fast, it reduces a lot of friction and administrative work. It is perhaps one of the best brokerage Singapore.

Its low minimum commission or trading fees of less than $3 in general is really great for us investors. With that, you can purchase more companies’ shares and diversify. Rather than having to buy more of a particular company’s stock to justify a higher trading fee.

Last but not least, it’s promotional incentive of a free Apple share and 180 days commission-free period are just bonuses for those of us who are already buying or selling stocks on the markets. And it’s an additional kick for those who are just starting to invest.

So, sign up here while the perks last!

* Current Incentives and promotions are valid from 1 Jun 2021 to 30 Jun 2021. MOOMOO may extend the promotion with same or different incentives, just like how they did previously. Actual offers and duration may be subject to change. Especially depending on when you are reading this post. Terms and conditions apply.

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Keep learning and happy investing. 🙂

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