Quick answer: Is Moomoo legit?

Yes. Moomoo’s event contracts are executed through Moomoo Financial Inc. (MFI), a Futures Commission Merchant registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), which offers contracts through the Kalshi Exchange rather than operating its own marketplace. Testing found a well-rounded platform: a 4.2/5 overall score, with Customer Support as the standout (a perfect 5.0/5) and User Experience & Responsible Trading as the clear limiter (3.7/5).

The strongest case for Moomoo is what’s already built around the event contracts: a live chat that instantly connected to a real person twice, a withdrawal that processed in about five minutes, and a welcome package broad enough to include up to $1,000 of Anthropic Stock. The honest caveat is Responsible Trading: just two of seven standard tools were found, and the platform’s own website can’t browse or trade event contracts at all, mobile-only for now.

What is Moomoo?

Moomoo built its name as a commission-free investing app for stocks, options, and crypto before adding CFTC-regulated prediction markets in June 2026 through a partnership with Kalshi. Trading event contracts are handled within the same account a Moomoo user already has for stocks, rather than through a separate sign-up. Moomoo’s parent company is Futu Holdings Limited, a Nasdaq-listed firm headquartered in Hong Kong, with FUTU US Inc. as MFI’s direct US parent.

Evidence of what I tested and learned about Moomoo

Finding	Details	The Experience Shaped the…
Welcome offer claimed and calculated	The updated offer advertises up to $1,000 in Anthropic stock, along with 8.1% APY on uninvested cash balances. The stock reward and interest earnings are separate benefits, and the actual value received will depend on the applicable offer terms and qualifying activity.	Our 3.8 Promotions score
A full count of live markets across nine categories	I counted at least 3,506 live markets across all eight core categories plus Other/Novelty, with Sports alone at 3,100+.	Our 4.6 Market Coverage score
A real crypto withdrawal and a timed settlement	A Litecoin withdrawal moved from the Margin account into the Crypto cash account in about five minutes, and a 15-minute Binance Coin contract paid out in about five minutes after it closed.	Our 4.8 Banking score
Two real $10 trades, tracked start to finish	My busy-market Tampa Bay trade cost 6.28% round-trip; my quiet Anthropic-policy trade cost 13.13% after a 1-2 day wait.	Our 3.6 Liquidity score
Live chat tested twice, both times instant	A real person answered both times almost immediately, though a follow-up email answered only one of five questions before handing the rest off.	Our 5.0 Customer Support score
All seven Responsible Trading tools checked by hand	Only two of seven were present: education/crisis-line resources and age verification, with no deposit limit, cool-off, or self-exclusion option found.	Our 3.7 UX & Responsible Trading score

Moomoo promotions: 3.8/5

Moomoo’s welcome package has three separate pieces: trading coupons, free Anthropic stock, and a temporary boost to its cash-interest rate.

Field	Detail
Welcome Offer	Up to $1,000 of Anthropic Stock + 8.1% APY on Uninvested Cash Balances
Promo Code Required	None found
Unlock Requirement	Up to $100,000 net deposit to qualify for the full $1,000 in stock. Unlocking the maximum reward requires maintaining average assets of $10,000 for 60 days, $50,000 for 120 days, and $100,000 for 180 days.
Expiration Window	180 days to unlock the full stock reward; APY booster coupon valid for 12 months after issuance, with a 60-day promotional rate period after activation.
Market Restrictions	None found on event-contract markets
Referral Program	An additional $100 in trading coupons for referring a qualifying new user who completes a $100 net deposit.

A $100 net deposit unlocks $100 in trading coupons; a second $100 in coupons is available for referring a qualifying new customer who also deposits $100. Each $10 coupon is credited only after an eligible buy-to-open order of at least $100 settles. The Anthropic stock reward scales by deposit tier, starting at $30 for a $500 net deposit and reaching $1,000 at $100,000. However, the full stock reward requires maintaining average assets of $10,000 for 60 days, $50,000 for 120 days, and $100,000 for 180 days to unlock the respective portions. The separate 8.1% APY offer consists of a 3.6% base rate and a 4.5% booster for 60 days, subject to activation and Cash Sweep Program enrollment.

This offer is available to eligible US traders; terms and availability may vary by state, so confirm the current offer directly with Moomoo before claiming.

Beyond the welcome package, I found four distinct ongoing offer types:

• The 8.1% Cash Sweep rate itself
• The uncapped NVDA referral program
• An introductory $0 brokerage commission on event trades
• Moomoo x Mets Winner’s Rush, a $2 million seasonal giveaway opening a rotating prize pool the day after a Mets home win

The referral program is the richest on paper: $100 in NVDA stock per qualifying friend, with no cap on how many friends can qualify.

A rich offer, but built for a much bigger deposit

Moomoo’s welcome package looks generous on a headline basis, and the Anthropic stock rewards offer a genuine point of difference from a typical cash-match promotion. The math tells a different story for smaller traders: the $100 trading coupon tier requires a $100 deposit, already five times my $20 test budget, while reaching the full $1,000 in stock requires a $100,000 net deposit and up to 180 days of maintaining qualifying asset balances. The 8.1% APY is another perk, although the boosted rate lasts just 60 days and applies to the first $20,000 in the Cash Sweep Program. The referral offer adds another $100 in trading coupons for bringing in a qualifying new customer, but that reward also requires a $100 deposit from the referred user.

Why I rated Moomoo promotions 3.8/5

A genuinely larger headline offer than most prediction-market platforms, held back by an unlock structure that only pays out in full at a six-figure deposit most traders won’t reach.

Moomoo’s market selection and coverage: 4.6/5

Moomoo covers all eight major market categories, plus an Other/Novelty bucket, through its Kalshi-sourced inventory. Here’s how the count broke down:

• Sports: 3,100+
• Politics: 90+
• Economics & Business: 90+
• Culture/Entertainment: 90+
• Climate/Weather: 34+
• Crypto: 40+
• Tech & Science: 29+
• Other/Novelty: 21+
• Geopolitics/World Events: 12+

That’s at least 3,506 live markets total. Within Sports, 18 of 27 leagues I checked had real depth, five or more live markets each, led by soccer (773), tennis (513), NCAA Football (441), NFL (373) and esports (209). Horse racing, rugby, Aussie rules, handball, poker, pickleball and lacrosse had no live markets at all.

Sports depth holds up once you go a level deeper, too: NCAA Football alone splits into Games, Futures and Win Totals tabs with real, timestamped matchups, and the Pro Basketball tab (Moomoo’s own label for the NBA) carries both game lines and full-season futures like the 2027 championship odds.

I checked 16 markets across all eight categories for settlement-source disclosure: does each one name a real, independent, objective source for how it resolves? 14 of 16 passed cleanly. The two exceptions both involved some remaining judgment call in the settlement itself, on an esports match with a contingency clause and an “aliens confirmed” market.

Deep where it counts, thin in a few corners

Moomoo’s catalog leans heavily on sports and broader categories tied to its brokerage roots, such as Economics and Crypto. Settlement sourcing held up well across nearly every market sampled, and the cross-category Combos feature is a real point of difference most dedicated prediction-market platforms don’t offer at all. Seven niche sports leagues had no coverage, and two of the 16 sampled markets left some judgment calls in how they settle, but neither of these dents the overall breadth much.

Why I rated Moomoo market coverage 4.6/5

Broad, well-disclosed coverage across all eight categories and a genuinely flexible Combos feature, held back only slightly by thin coverage in a handful of niche sports leagues.

Moomoo deposits, withdrawals and fees: 4.8/5

Moomoo supports deposits and withdrawals through ACH/bank transfer (including Instant Transfer for Bank of America and US Bank), debit cards, digital wallets (Apple Pay, Google Pay), wire transfers, and cryptocurrency. Paper checks aren’t supported either way.

Method	Deposit?	Withdraw?	Speed (tested/stated)
ACH/bank transfer	Yes	Yes	1-4 business days in; 1-3 business days out
Debit card	Yes	No	Near real-time
Digital wallet	Yes	No	Instant in normal cases
Wire transfer	Yes	Yes	1-2 business days in; 1-3 business days out
Cryptocurrency	Yes (indirect)	Yes (indirect)	Within 1 hour in; 1-3 business days to move to cash

Deposits start at $1, with no fee for ACH, debit, or digital wallet funding. A Litecoin withdrawal I tested, moving funds from the Margin account to the Crypto cash account as the first leg of cashing out, completed in about five minutes, the app’s own stated estimate for that transfer. 

Moomoo’s trading fee runs $0 in brokerage commission during its current introductory period, plus a flat $0.01 Kalshi exchange fee per contract per side, for an effective $0.01 per unit traded. After the introductory period ends, the published schedule adds another cent, bringing the total to $0.02 per side. That fee shows up on the order ticket itself before confirming: a $10 order on Tennessee showed 33.33 contracts, a $0.34 estimated fee, and the payout, before I placed it.

Moomoo pays interest on idle cash through Cash Sweep, a standard 0.03% Annual Percentage Yield (APY), rising to 3.6% with a $3.99-a-month Engine membership, or 8.1% on the first $20,000 for new users during their first 60 days. That interest doesn’t extend to collateral locked behind an open event contract. I found no universal account-wide position cap; Kalshi sets limits per market, with one election example capping an individual at $125,000 in maximum-loss exposure. Minimum order size is $0.01, with a one-cent price tick.

One real friction point: identity verification before my first deposit took close to 48 hours, longer than expected.

Fast when it works, with one real wait upfront

Moomoo’s funding methods moved quickly and cleanly in every test that actually ran, and the trading fee shows up before confirmation, right on the order ticket. The nearly 48-hour identity-verification wait before my first deposit was the one real snag, and it’s worth planning around if Moomoo’s event contracts are the specific draw. The tiered Cash Sweep rate is a genuine extra for anyone planning to hold idle cash for a while, even if the richest tier only applies during the first 60 days.

Why I rated Moomoo banking 4.8/5

Fast, fee-transparent funding on every method I tested, with a real interest program on idle cash, losing only a little credit for the near-two-day identity-verification wait before my first deposit.

What it really costs to trade on Moomoo: 3.6/5

I test and rate Liquidity here, because it answers whether a trader actually gets the price they’re quoted. A $10 trade on Moomoo’s busiest market cost 6.28% round-trip; the same test on a quiet market cost more than double that.

Moomoo prices every market through a real, visible bid/ask order book, not an automated pricing formula. My busy market was Tampa Bay vs. Milwaukee, with 2.28 million in total volume; my quiet market was whether the US government would rescind the Anthropic ban before April 2027, with just 11,948 in total volume.

Both orders were filled at the quoted price, with zero slippage: 20.83 contracts at 48 cents on the busy market and 22.72 contracts at 44 cents on the quiet one. I sold the busy position back out within 30 minutes, for a round-trip cost of 6.28% on my $10 stake, split between a one-cent spread and $0.42 in exchange fees.

The quiet market told a different story. When I came back 1-2 days later to exit, the book had shifted against me: the bid had risen two cents, and the ask one cent, but only five contracts were buying at the best price. Exiting the full position took two separate sells, at 39 cents and 38 cents, for an effective cost of 13.13% on my original $10. On both markets, the quoted Yes and No prices added up to more than 100%, 101% on the busy market and 107% on the quiet one, a wider gap than the spread alone would suggest.

Moomoo doesn’t run its own market-maker program. Kalshi, the exchange behind its event contracts, names both a Market Maker Program and a separate Liquidity Incentive Program, though the latter’s eligibility rules exclude FCM customers like Moomoo’s.

Cheap when it’s busy, expensive when it’s not

A busy Moomoo market behaves much as you’d hope: I paid a reasonable 6.28% to get in and out of a $10 position with no slippage on either leg. The quiet market was a different animal. Waiting a day or two before exiting more than doubled the proportional cost, and the book itself showed only a handful of contracts at the best available price. Moomoo’s mobile app also never showed resting order book depth before I traded, so a trader has no easy way to gauge how thin a market really is before placing an order.

Why I rated Moomoo liquidity 3.6/5

Clean, no-slippage fills on a busy market, offset by a quiet market that got meaningfully more expensive to exit, and no visible order-book depth to warn a trader.

Moomoo customer service: 5.0/5

Moomoo offers five official contact methods: live chat (24/7), phone in English (Monday-Friday, 8:30 a.m.-4:30 p.m. ET) and a separate Chinese-language line, email (cs@us.moomoo.com, 24/7), and an in-app Customer Service hub that ties the others together.

I tested live chat twice on separate occasions and reached a real person almost instantly each time after typing “agent.” My email got a reply in 24 minutes, well inside Moomoo’s own stated 1-2 business days, though it only answered one of my five questions before saying the rest had been passed to another team, which never followed up.

I asked support five specific questions:

Question	Result
A promo/bonus term	Specific and correct
A payout/withdrawal timing rule	Partly correct, missed the deposit-hold detail
A state/jurisdiction eligibility detail	Named only one state, incomplete
A Responsible Trading question	Specific and correct, after one clarification
The dispute-process question	Dead end, no real process given

A dedicated disputes path does exist beyond general support: an order-execution complaint can be reviewed by Kalshi through Moomoo, then appealed to a Kalshi compliance officer, with broader futures claims eligible for NFA arbitration or the CFTC Reparations Program. Moomoo’s terms also carry an arbitration clause and class-action waiver under the Financial Industry Regulatory Authority (FINRA), stating that a qualifying claim “shall be arbitrated and conducted under the provisions of the Code of Arbitration of the FINRA.”

One standout: a Secure File Upload portal for account cases needing documentation, keeping sensitive files out of ordinary email attachments.

Fast to reach, inconsistent once you’re there

Moomoo’s biggest strength here is speed: a real person on live chat almost instantly, twice, and an email reply in under half an hour. The gap is accuracy and follow-through. Only one of my five fixed questions got a clean, complete answer. Meanwhile, the dispute-process question hit a real dead end, and the email thread that promised a follow-up never sent one.

Why I rated Moomoo customer support 5.0/5

A near-perfect score on raw speed and channel count, Moomoo’s own stated measure, though the real caveat worth knowing is that three of five test questions came back incomplete or wrong.

Moomoo’s app, trading tools, and responsible trading: 3.7/5

Moomoo has established iOS and Android apps, with Prediction Markets live since June 4, 2026. The feature is mobile-first: the website handles funding only, and even the desktop client sends deposits to the same browser page. No event-contract browsing, order entry, or position management exists on desktop at all.

Navigation is organized into top-level sections such as Sports, Politics, Crypto, and Economics, with league filters within Sports and live listing counts. Search spans the entire Moomoo platform rather than just Prediction Markets, so reaching a specific contract takes an extra tap past stock and news results. I hit no crashes or failed loads, though opening a category or a market chart added a brief pause.

Cash and collateral are clearly separated: my account showed a total of $19.17, split roughly 71% cash, 29% in event contracts, and under 1% in crypto. A full order and trade history, with running profit and loss, sits in Accounts, alongside year-end 1099 tax documents when issued. Closing the account isn’t a self-serve action; it requires exiting all positions and emailing support. However, two-factor authentication is available through Device Lock, a rotating-code Moomoo Token, and passkey support.

Tool	Present?	Notes
Deposit/funding limit	No	No user-set funding cap found for Prediction Markets
Loss or exposure limit	No	No personal loss ceiling or exposure control found
Session/elapsed-time reminder	No	No timer or prompt after extended activity
Cool-off/trading break	No	Only a full account deactivation, not a short break
Self-exclusion	No	Not available for Prediction Markets specifically
Education/crisis-line resources	Yes	A risk-management guide exists; no named crisis-line partner
Age verification	Yes	18+, enforced through standard account-opening ID checks

Only two of seven standard Responsible Trading tools were present. One real above-and-beyond feature: a Trusted Contact Person, 18 or older, Moomoo can reach if it has concerns about diminished capacity, though that contact has no trading authority.

Moomoo’s app holds a 4.7-star rating on the Apple App Store (roughly 37,000 ratings) and a 4.5-star rating on Google Play (roughly 51,000 ratings). Order types include Quick and Limit, with Day, Good-Til-Date (GTD), Good-Til-Cancelled (GTC), and Immediate-or-Cancel time limits. However, the full order book isn’t visible in the mobile app, only probabilities and total volume. Positions can be funded on margin for accounts holding at least $2,000 in net assets. Combos let traders build multi-leg positions across categories, with a calendar-add shortcut for scheduled events, and several gamification mechanics are in place, including trade-sharing point rewards and trading-achievement badges.

A capable app with real gaps in trader protection

Moomoo’s mobile experience is polished and reliable, backed by years of work as a brokerage app before event contracts arrived. The real shortfall is Responsible Trading: five of the seven standard tools aren’t there for Prediction Markets, and the platform offers no way to set a funding cap, take a short break, or self-exclude from event-contract trading specifically.

Why I rated Moomoo UX & Responsible Trading 3.7/5

A smooth, reliable app pulled down by a thin Responsible Trading toolset, five of seven tools missing, and a desktop experience that can’t trade event contracts at all.

Is Moomoo legal, and who actually runs it?

Moomoo’s event contracts run through Moomoo Financial Inc. (MFI), a Futures Commission Merchant registered with the CFTC and the NFA. MFI’s direct parent is FUTU US Inc., with Futu Holdings Limited, a Nasdaq-listed, Hong Kong-headquartered company, as the ultimate owner. MFI acts as the customer-facing broker; KalshiEX LLC runs the exchange and matches trades as a CFTC-designated contract market; Kalshi Klear LLC clears those trades and holds collateral as a registered derivatives clearing organization.

Regulatory history: MFI gained NFA membership and FCM registration in May 2026. On Oct. 2, 2026, the Ohio Casino Control Commission ordered Moomoo to stop offering sports event contracts in the state, alleging unlicensed sports gaming, with a compliance deadline that expired Oct. 16. Separately, Futu Holdings, Moomoo’s Hong Kong-based parent, was fined roughly $271 million by China’s securities regulator in May 2026 over unlicensed securities and futures activity in mainland China and Hong Kong. That action concerns Futu’s overseas operations, not MFI, the US entity that actually holds American customers’ accounts.

For the Kalshi contract types checked, including football-spread and election margin-of-victory markets, Kalshi lists them as self-certified under CFTC Regulation 40.2, rather than individually approved by the agency. I confirmed real access from Texas: I opened an account, funded it, traded across multiple categories including Sports, and withdrew without issue. The stated minimum age is 18.

Customer cash sits in MFI’s Margin Account before a trade, with Futu Clearing Inc. providing custody; once a contract is placed, the required collateral moves into Kalshi Klear’s clearing system. Moomoo discloses Securities Investor Protection Corporation (SIPC) protection on eligible securities-related cash, up to $250,000, and cash swept to partner banks becomes separately Federal Deposit Insurance Corporation (FDIC)-eligible up to $250,000 per bank. Event-contract positions themselves carry no protection; CFTC customer-fund segregation rules apply instead.

Moomoo’s terms don’t claim a right to change a listed contract itself, stating that “all final settlements are determined by the exchange.” A FINRA arbitration clause and class-action waiver apply to disputes. Moomoo issues Form 1099 to US customers with reportable activity, describing it as covering “the actual gain/loss based on the buys and sales for that tax year only.”

Moomoo vs. the competition

Here’s how Moomoo stacks up against three other prediction-market platforms we have reviewed at LSR.

Platform	Overall Score	Live Markets	Welcome Offer	Busy-Market Round-Trip Cost
Moomoo	4.2/5	3,506+	Up to $1,000 of Anthropic Stock + 8.1% APY on Uninvested Cash Balances	6.28%
Kalshi	4.2/5	5,189+	Trade $25, Get $25	6.60%
OG.com	3.9/5	1,007+	Trade $25, Get $50 in Bonuses	8.62%
Underdog Predict	4.2/5	Not directly comparable (sports-focused catalog)	N/A	Not published

Moomoo’s busy-market trading cost came in lower than both Kalshi and OG.com, and its welcome package, while harder to unlock in full, carries a far higher headline ceiling than any of the three. Where it trails the field is Responsible Trading: Kalshi’s full seven-tool set, confirmed in LSR’s own Kalshi review, is a real gap next to Moomoo’s two.

My verdict on Moomoo

Moomoo earns a 4.2/5 overall, built on the same Kalshi-sourced exchange a handful of other brokerage apps now tap into, but wrapped inside a polished, already-established investing app. It fits a trader who already uses Moomoo for stocks and wants event contracts in the same account, especially one willing to make a larger deposit to qualify for the Anthropic stock rewards. It fits less well for a trader who wants dedicated Responsible Trading tools or who wants to manage positions from a desktop browser.

The standout strengths are support and banking: a live person on chat almost instantly, and money that moved quickly in every funding test. The real weakness is Responsible Trading, with just two of seven standard tools found, and a Prediction Markets product that only works from a phone.

Great fit for: an existing Moomoo brokerage user who wants event contracts without opening a separate account, and anyone willing to meet the deposit and asset-maintenance requirements for up to $1,000 in Anthropic stock.

Probably not for: a trader who relies on deposit limits, cool-off periods, or self-exclusion while trading, or one who wants to manage positions from a desktop.

Moomoo FAQ