Moomoo’s state availability and legitimacy
Before you start trading at any new prediction market site, it’s important to explore the security and legitimacy of the platform. Even claiming a bonus shouldn’t be done until you’re confident - which is why the testing process for the DraftKings Predict promo code was so in-depth, for example. The bottom line: Never leave a stone unturned.
Moomoo’s prediction markets are operated and offered by Moomoo Financial Inc., which is a Futures Commission Merchant (FCM) that’s regulated by the Commodity Futures Trading Commission (CFTC). With this federal framework in place, you can trade event contracts with peace of mind. Moomoo operates as a financial derivatives broker, which offers solid consumer protection.
That’s one thing that many users appreciate about Moomoo. Everything you could possibly want to know about the operator’s protections and regulations is shared in the footer of the website and app. You can access all this information even before you open an account, which is a great sign that Moomoo is legit.
With this strict oversight, Moomoo offers its services in a list of permitted states. Check out the full list of available states below.
Testing the iOS and Android apps
Moomoo has a website and dedicated apps, so you can access your account from your preferred device. However, you can only trade event contracts from the app. Think of the website more as a hub of information, while the app covers everything. Both platforms offer a similar user experience. You will notice the same orange and black color theme, which makes the brand recognizable and stand out from the crowd.
The great news here is that the app isn’t just for mobile devices, so you don’t need to use a smaller screen if you prefer a desktop PC. You can install the app on your smartphone, tablet, MAC PC, and Windows PC. Many users prefer to use the desktop website for analysis, which is easier to do on a bigger screen. On the other hand, the mobile app is best for speed and convenience.
What stood out is how scrollable and swipeable the platform is. A bulk of this review was done on a laptop with a touchscreen, and the website responded exceptionally well. There were no delays, glitches, or slow loading speeds in sight. Another highlight is the volume of beginner-friendly resources. For instance, you might benefit from accessing the What We Offer and Why Moomoo pages.
Create your Moomoo account today!
Download the Moomoo mobile app
Access the Moomoo trading tools with ease
New traders can pick up a triple welcome bonus
Moomoo has a generous welcome package waiting to greet you - all without even needing a Moomoo promo code. Not only will you receive a specific trading bonus, but there are two other promos available for you to claim. The only terms you need to consider here are that you are a new customer who hasn’t had an account with Moomoo before. You will also need to deposit and trade a specific amount to unlock the full bonus. Overall, you can claim the following:
- Up to $200 in trading coupons
- Up to $1,000 NVIDIA stock
- 8.1% APY for 2 months
To get the trading coupons, you need to deposit $100+. Then, if you refer someone to the site and they deposit $100, you will get an extra $100 in trading coupons. To activate your coupons, you will need to complete some trades. For every $100+ you trade, you will collect a $10 coupon.
As for the NVIDIA stock, this is based on your initial deposit. Essentially, the bigger your deposit, the more stock bonus you will get:
| First Deposit | NVIDIA Stock Bonus |
|---|---|
| $500+ | $30 |
| $2,000+ | $100 |
| $10,000+ | $200 |
| $50,000+ | $400 |
| $100,000+ | $1,000 |
Is there a no-deposit bonus at Moomoo?
No, there isn’t. Moomoo does not offer a no-deposit welcome bonus. Overall, the only way to get a bonus for free is via the referral program. And even then, you’ll only get a reward if your friend decides to make qualifying deposits.\
Ongoing promotions for returning traders
Moomoo doesn’t have a long list of ongoing promotions, but you can still pick up a bonus from time to time. One of the permanent offers is the referral program, which is a common offer at prediction market sites. For instance, you may already be aware that you can share a Kalshi referral code to unlock a bonus. Meanwhile at Moomoo, you can get up to $200 in trading coupons and $100 in NVDA Stock for each referral. The referral bonuses are based on your friends' deposits during their first 30 days. Provided that your friend signs up and makes a qualifying deposit, you will receive the attached bonus.
| Your Friend's Deposit | Your Referral Bonus |
|---|---|
| $100+ | $100 in trading coupons |
| $2,000+ | $100 in trading coupons and $100 in NVDA Stock |
You can track your rewards, which offer a full breakdown on your accumulated bonuses and total referrals. This allows you to see how many friends you have referred, who have met the qualifications, and the total amount of bonuses you have claimed to date. Remember, your friend has 30 days to meet the deposit requirements; otherwise, you will not get any of the referral rewards.
Subscribe to the Moomoo Engine membership
Moomoo doesn’t have a traditional loyalty program, just like what was discovered while searching for an Underdog Predict promo code, as we showed on our prediction markets review page. However, there is a subscription-based membership. If you subscribe to Moomoo Engine, you can expect better trading tools. For example, you will gain access to 10+ advanced order types, where you can set your entry, exit, and stop before the trade. You will also have priority customer support, access to the Moomoo assistant, and up to $50,000 daily instant ACH deposits. What’s more, you can claim a 30-day free trial to see if it works for you.
Under the membership, you will have access to three engines. It’s worth keeping in mind that this membership doesn’t just cover the prediction markets, so not all of the features will be a benefit for your predictions trading.
| Moomoo Engine | Details |
|---|---|
| Fundamental Engine | Analyst coverage, insider activity, research, and valuation |
| Options Engine | Risk management, order execution, and options strategy |
| Technical Engine | Strategy testing, active trading, and charting |
Limited deposit methods: Bank transfers only
Unfortunately, this is where the Moomoo review went a little south. By all means, Moomoo supports reliable payment methods, but there’s not much choice. At the time of writing, Moomoo accepts only ACH and wire transfers. It’s clear that Moomoo focuses on offering only the best banking options. That said, the list could do with being improved.
Your deposit will be processed instantly, but it will not land in your Moomoo account for up to five business days. The speed of your deposit also depends on when you processed the payment. For example, if you deposit on Monday after 5:00 PM ET, then you can expect your deposit to clear by the following Monday morning. However, if you deposit before 5:00 PM ET, then it could arrive by Friday morning.
Moomoo has a clear payout structure
The withdrawal methods at Moomoo are the same as deposits. You can either choose ACH or a wire transfer. Both of these methods have the same processing speed, so the only difference is your preference and the fees. It appears that there are no withdrawal fees if you choose ACH, but there are a few fees to consider with a wire transfer.
Withdrawal speed
Both ACH and wire transfer will take between 1 and 3 business days to process. That said, you should allow up to 4 business days. As far as payouts go, this speed is pretty great. It’s not uncommon for bank transfers to take up to 10 business days, so Moomoo offers speedy processing by anyone’s standards. Of course, this expected timeframe may change, so take this as a guide only.
Withdrawal fees
As mentioned before, ACH transfers are relatively fee-free. The only fee to keep in the back of your mind is if your transfer is returned. In this case, there will be a $10 ACH reversal fee. Provided that you enter the correct bank details and your bank accepts funds from Moomoo, everything should move along smoothly. Wire transfers can carry higher fees – up to $50 in some circumstances – but those are bank fees, not imposed by Moomoo.
13+ categories to pick from with Moomoo’s prediction markets
Moomoo’s prediction markets charts
Trade the crypto market seamlessly
Forecast the price of stocks at Moomoo
At the time of writing, Moomoo has 13 categories, including Sports, Crypto, Politics, Financials, Entertainment, and Commodities. From that list, the most popular are Crypto and Commodities, which often have high trading volumes. While testing the platform, these categories were trending most days. So, if you know which markets you want to trade on, these could be great options to start with in terms of liquidity.
To give you an idea of what you could expect, here’s a quick overview of the top three categories and the types of markets you will find:
- Sports - Moomoo has an extensive mixture of sports and leagues to forecast, including pro and college basketball, football, and baseball. There’s even great coverage of esports, with the likes of Valorant, League of Legends, Dota 2, and CS2. Quite simply, whatever sports interest you, you are bound to find them here.
- Crypto - You’ll find a broad range of markets here, including 15-minute, hourly, and daily markets. There’s even a list of long-term markets, where you can predict the price of crypto by the end of the year. Crypto markets cover a good chunk of cryptocurrencies, including BTC, ETH, XRP, SOL, and DOGE, just to name a few.
- Commodities - Most markets here are long-term, where you will forecast the price of metals, oil, silver, and gold, for the end of the month or year. That said, there are some 15-minute markets available, too.
24/7 customer support is available for all queries
Moomoo is covering all angles of support, ticking off more boxes than other prediction market sites. Honestly, from the get-go, the level and quality of support was second to none. For starters, the live chat is open 24/7. This means that the support team is never far away, regardless of your query type. While testing the live chat, it only took around 30 seconds for an agent to connect.
You can also raise a ticket or send an email to the team 24/7, which will be picked up in the order of arrival. In most cases, your messages will be answered within a few hours. For a speedier and more direct method, there’s also a telephone line, which is a great alternative to live chat. The telephone line is available Monday to Friday and 08:30 AM - 4:30 PM ET.
Aside from the traditional options, there are a great deal of tutorials in addition to FAQs. The tutorials walk you through practically everything you would need to know as a newcomer, including how to open an account, how to start trading, and even a breakdown of the features. It’s a great place to go when learning the ropes.
Moomoo’s tools that help you stay in control
Moomoo doesn’t have a dedicated page for responsible trading, which is a bit surprising. Given how great Moomoo is at breaking down the regulations and protections, you are easily forgiven for being surprised by this. That said, while there isn’t a dedicated page, there are plenty of notices throughout the website and app that warn you of the risk.
There’s also an abundance of tools for you to utilize that help you make sure you don’t trade more than you can afford. For example, you can set a stop-loss and take-profit feature on every market you trade:
- Stop-loss - Automatically close a position when the price moves in the wrong direction.
- Take-profit - Secure a profit by closing a position when the threshold has been met.
Final Thoughts: Recapping on whether Moomoo is worthwhile
Moomoo might be relatively new, but it feels like it’s been around for quite a long time already. The prediction markets have taken the US by storm and are already attracting millions of users from around the world. After testing the waters, it’s clear to see that Moomoo’s markets provide coverage on most categories you would expect to find. From sports to crypto, politics, entertainment, mentions, and companies - there is something to suit most interests.
While there are a lot of advantages, there is a downfall that stands out: availability of payment methods. As of right now, Moomoo accepts two payment methods for deposits and withdrawals. Not only that, but instant deposits are exclusive to those who subscribe to Moomoo Engine. Ideally, the list of accepted banking options will get bigger as time goes on, and it’d also be great to see faster deposits.
One of the key features that stood out is the ability to use trading tools to set stop-loss and take-profit. If you have a clear strategy in mind, these tools will be a great help. Plus, they help you to stay in control. Another standout area is the Trending page, where you can keep an eye on what’s been popular lately. This is based on the last 24 hours of trading, so it’s great for a little inspiration if you’re stuck for ideas.
If you’ve liked what you have seen in this review, why not try it for yourself? All you need to do is tap the on-page banners, and you will be good to go.
Moomoo Review FAQs
Wes Burns has more than a decade's worth of experience as a writer, researcher and analyst in the legal gambling industry and is co-founder of BettingUSA.com. As a former professional online poker player, Wes approaches his work from the viewpoint of players.