The brokerage service we offer is appropriate if you wish to make your own investment decisions when you buy or sell securities. Although there are brokerage services that may advise you on making investment decisions, we do not provide those types of services. If you need assistance in making investment decisions, you might also consider opening an account with an investment adviser. Most investment advisers charge a fee based on the amount of assets they manage for you, and do not charge commissions or other transaction-based compensation. You should not buy or sell securities if, in your current financial situation, you cannot afford to lose a substantial portion of the money invested in securities.
As a FINRA member, our registered representatives maintain appropriate licenses that qualify them for their respective responsibilities. At least one of our registered representatives is currently qualified as a General Securities Representative (Series 7); Securities Trader (Series 57); Investment Banking Representative (Series 79); Operational Professional (Series 99); Registered Options Principal (Series 4); General Securities Principal (Series 24); and Financial and Operations Principal (Series 27). To learn more about permitted activities of registered representatives and registered principals, please visit here.
Keith Chan is our Chief Executive Officer and Managing Director. He previously served as the Managing Director for Futu Securities International (Hong Kong) Limited, a Hong Kongbased broker-dealer registered with the SFC. Before that, Mr. Chan served as the Chief Compliance Officer and as Trade Manager for two other SFC regulated broker-dealers in Hong Kong. Mr. Chan holds Series 4, 7, 24, 63 and 79 registrations from FINRA and the Series 3 from NFA.
Darren Parsons is our Chief Operations Officer. He has an extensive background in Brokerage Operations and has worked in several different roles and capacities over the past 29 years with several broker-dealers in the US. Mr. Parsons received a B.S. from The University of Nebraska-Lincoln and holds Series 7, 24, 27, 63 and 99 registrations from FINRA.
Moomoo Financial Inc. will not invest your money for you and will not recommend investments to you. Moomoo Financial Inc. will only implement instructions received from you or your introducing broker. You are solely responsible for evaluating the merits and risk of your investment choices and your investment decisions.
The fees and costs charged to you will depends on a number of factors that include your status as U.S. resident, the amount of margin interest charged, and the types of transactions you make.
For example, if you are a U.S. resident or a non-U.S. resident and buy $10,000 worth of stock with your own cash, you will not incur any margin interest.
However, if you are a U.S. resident who buys $10,000 with 50% margin, you will—on an annual basis— be charged $340 in margin interest rate at the current margin interest rate of 6.8% per year. Similarly, if you are a non-U.S. resident who buys $10,000 with 50% margin, you will—on an annual basis—be charged $240 in margin interest rate at the current margin interest rate of 4.8% per year. Please note that the margin interest rates are subject to change without notice and in all cases, you will be charged regulatory fees imposed by the SEC and FINRA when you sell the stock.
For a complete fee schedule, please visit our commissions and fee schedule page.
Generally, the more you trade or the more margin you use, the more money we will make. However, the amount of trading you undertake and whether or not you buy on margin is entirely up to you; we do not make recommendations about investments or investment strategies and we will not suggest any particular investment actions to you. You are solely responsible for your investment choices and the decisions you make about how much to trade and how much margin to use.
We do not employ salesmen to encourage our clients to trade securities. Our employees are paid a salary; they do not receive any transaction-based compensation, although they are eligible for a bonus based on the overall profitability of the Futu group of companies. Conflicts of interests will be disclosed to you in the manner prescribed by FINRA and SEC rules. For example, conflicts of interest, if any, from our underwriting activities will in disclosed to you in the prospectuses you receive. While we do not receive “payment for order flow”, our clearing firm which routes your orders to third-party market centers may receive “payment for order flow” or rebates.
Moomoo Financial Inc. does not have any disciplinary history. One of our registered representatives has compliance-related disciplinary history from 2001 and 2010. None of our registered representatives have disciplinary history related to sales practice. You can visit investor.gov/CRS to learn more about our finance professionals.
Because we do not make recommendations to you, we do not have a primary contact person assigned to your account. Customer service personnel are available to answer questions and you may reach them at firstname.lastname@example.org.