Is Moomoo Safe and Legit in Australia?

How is Moomoo Safe and Legit? A Quick Overview

What is Moomoo?

Moomoo is a trading platform that provides access to major global markets, including the United States, Australia, Singapore, Japan, Canada, Malaysia, and New Zealand.

The platform is backed by Futu Holdings, a publicly traded entity listed on the NASDAQ under the ticker FUTU. Operating across multiple countries, Moomoo has been established as the flagship retail investing platform for its parent company.

Since entering the Australian market in 2022, moomoo Australia has quickly gained traction, becoming the country’s most downloaded trading apps in 2025^. Supported by global fintech company FUTU, the platform gives Australian investors access to over 26,000 stocks and ETFs across the Australian, U.S., and Hong Kong markets.

Australia's first moomoo store in Sydney

Moomoo’s first physical store in Australia officially opened on 19 November in Chatswood, Sydney. The store is located at Shop 66, 427-441 Victoria Avenue, Chatswood, Sydney, NSW 2067.

Is Moomoo Australia safe?

For investors wondering “Is moomoo legit?”, this section provides a clear explanation.

Moomoo Australia, trading as Futu Securities (Australia) Ltd, operates under Australian regulatory requirements and applies client asset handling arrangements in accordance with applicable laws.

1. Regulation and Licensing

• ASIC Regulation: Moomoo Australia is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL), which requires compliance with Australian financial services laws.

• Global Parent Company: Futu Securities (Australia) Ltd is a wholly-owned subsidiary of Futu Holdings Ltd, a public company listed on the NASDAQ (ticker: FUTU). Futu Holdings has a market capitalisation of over $20 billion USD. The parent company also holds over 50 financial services licenses across various markets.

2. Client Asset Handling

Moomoo applies different arrangements for Australian and overseas market holdings, in line with regulatory requirements:

• CHESS Sponsorship for ASX Shares: Moomoo operates as a CHESS-sponsored broker for Australian-listed shares. ASX shares purchased through the platform are recorded under the client’s individual  Holder Identification Number (HIN) with the ASX’s Clearing House Electronic Subregister System (CHESS), reflecting legal ownership registered in the client’s name.

• Segregation of Funds: Client cash funds are held in designated client money trust accounts with major banks, such as CBA and HSBC. These funds are held separately from the firm’s operating funds in accordance with client money rules.

3. Account Security and Technology

Moomoo uses multiple standard and advanced security features to protect user accounts and data:

• Two-Factor Authentication (2FA): 2FA is available and recommended to add an extra layer of protection during logins and account changes.

• Encryption: All communication and data transfers between the user and the platform are secured using strong encryption protocols to prevent interception.

• Fraud Prevention: The platform employs systems to monitor for logins from new devices or unusual IP locations and can trigger account holds or alerts in the event of possible fraud.

Is Moomoo good for trading?

1. Competitive brokerage fees:

• Australian market: moomoo charges a low, transparent fee starting from AUD $3 per trade or 0.03% of transaction value (GST inclusive), whichever value is greater.

• US market: start from USD $0.99 per trade *does not include Pass-through fees and other service fees.

• Hong Kong market: start from HK$3 per trade or 0.03% of transaction value, whichever value is greater.

1. Diversified investment products: moomoo gives Australian investors access to over 26,000 stocks and ETFs across the Australian, U.S., and Hong Kong markets. It also offers 24/5 US stock trading to help you overcome time zone barriers.

2. Advanced AI trading tools: Moomoo AI leverages financial big data to help analyse key investment insights. In addition, moomoo provides a range of tools including investment themes, curated rankings, and analyst ratings to help investors quickly identify potential stocks.

3. Beginner-friendly: Many new investors want to take their first step into investing but aren’t sure where to start. The moomoo app offers a range of free educational courses to help you understand the investment market from the ground up.

4. 24-hour customer support: Moomoo offers 24-hour customer support on trading days, ensuring assistance is available around the clock for investors whenever they need it.

Final thoughts: Is Moomoo safe?

The evidence points to Moomoo Australia being a reliable and legitimate brokerage option, having implemented the critical safeguards necessary for a trustworthy investment platform. The question, "Is Moomoo safe?" or "Is moomoo legit?" can be answered positively by examining two foundational pillars of investor protection:

• Regulatory Adherence: Moomoo Australia operates under the strict oversight of the ASIC (Australian Financial Services Licence), while its parent entity, Futu Holdings Ltd, is a transparent, NASDAQ-listed (FUTU) firm subject to rigorous international scrutiny. This dual layer of regulation establishes legal accountability.

• Client Asset Handling: For Australian users, the use of CHESS sponsorship is paramount, ensuring investors retain direct legal ownership of their ASX shares via a personal HIN. Furthermore, client cash is insulated by being held in segregated trust accounts with major Australian banks.

While no investment is entirely without risk, moomoo combines regulatory compliance, asset protection measures, and robust platform security to provide a safe environment for trading. These safeguards make it a reliable option for Australian investors seeking access to domestic and international stocks.

Disclaimer: ^The number of downloads in Australia is the combined total of downloads for the Moomoo App in Australian iOS and Android stores. Due to the change of App version, from 1 Jan 2025 to 7 November 2025, Moomoo App refers to Moomoo global app. From 7 November 2025 onwards, it refers to the Moomoo Australia app. Ranking may change over time.