Moomoo Review | $0 Commissions

Moomoo trading has expanded beyond traditional investing by giving eligible users access to CFTC-regulated event contracts alongside stocks, ETFs, options, and other assets. I spent time exploring the Moomoo app, testing its prediction markets, navigating the platform, and reviewing its trading tools. In this review, I’ll explain how to open an account, outline the types of event contracts you can trade, and compare Moomoo to other prediction markets.

What is Moomoo and how does it work?

Moomoo is an online investing platform that also offers CFTC-regulated event contracts, allowing eligible users to trade on the outcomes of future events. In addition to sports markets, you’ll find contracts tied to politics, finance, crypto, and news, all within the same app used for stocks, ETFs, and options.

Event contracts are priced between $0.01 and $0.99 and can be purchased on either the Yes or No side of a market. The price reflects the market’s implied probability. If your contract settles correctly, it pays out $1 per contract, while losing contracts settle at $0. In many markets, you can also sell your position before the event is resolved.

Moomoo routes event contract trades through Kalshi’s regulated exchange, meaning users trade within an exchange-based marketplace rather than against a traditional sportsbook. Prices are determined by market activity, and orders are matched through the exchange instead of fixed odds set by a bookmaker.

The U.S. Commodity Futures Trading Commission (CFTC) refers to these products as event contracts, which are designed to forecast, hedge, or trade based on future events. Unlike a traditional sportsbook, where you wager against the operator at fixed odds, event contracts function as financial products with prices that fluctuate as market sentiment changes.

Welcome offer at Moomoo | 3/5 stars

Moomoo doesn’t currently offer a welcome bonus specifically for prediction markets. Instead, the platform’s biggest incentive for event contract traders is $0 commissions, allowing you to trade eligible contracts without paying commission fees, although other fees and restrictions may still apply.

Moomoo welcome offer: How it works

Since there isn’t a dedicated prediction market promotion, there’s nothing to claim when you begin trading event contracts. My advice is to focus on the commission-free trading and review any available brokerage promotions separately if you also plan to invest in stocks or ETFs.

Moomoo welcome offer: How it compares

If you’re looking for the best welcome offer, Kalshi has the edge with its $20 bonus for new users. Moomoo’s value comes from commission-free event contract trading and the convenience of managing prediction markets alongside your broader investment portfolio.

Ongoing promotions and rewards at Moomoo

Moomoo regularly updates its brokerage promotions, although none are designed specifically for prediction market traders. Most current offers reward funding your account, transferring assets, or referring new users.

• Referral program: Earn rewards when eligible friends open and fund a qualifying Moomoo account using your referral link.
• Transfer-in bonus: Eligible users can receive a bonus for transferring qualifying assets from another brokerage, subject to promotional terms.
• Cash Sweep promotion: New eligible users may qualify for a promotional APY on uninvested cash held in the Cash Sweep Program.

Sites like Moomoo: How it compares

Moomoo combines investing and prediction markets in one platform, while most competitors focus exclusively on event contracts. Here’s how it stacks up against some of the leading prediction markets.

If you’re primarily interested in prediction markets, Kalshi and Polymarket offer stronger welcome bonuses and a greater focus on event contracts. However, Moomoo stands out by letting you trade prediction markets alongside stocks, ETFs, options, and other investments from a single, polished platform.

Moomoo app and website experience | 4.7/5 stars

The Moomoo app and desktop platform deliver an excellent trading experience, combining an intuitive interface, advanced charting tools, and seamless access to both traditional investments and event contracts in one place.

Moomoo app review (iOS & Android)

The Moomoo app is available for both iOS and Android, and it’s easy to see why it’s so well regarded. At the time of writing, it holds a 4.7-star rating on the App Store and a 4.4-star rating on Google Play, reflecting a generally positive user experience. I found the app responsive and well organized, with prediction markets integrated alongside stocks, ETFs, options, and other investments instead of feeling like a separate feature.

Navigating between event categories was straightforward, and the trading screen clearly displayed contract prices, charts, and order details without feeling cluttered. I also appreciated that account settings, funding options, and customer support were easy to locate from the main menu, making it simple to manage my account while trading.

Moomoo desktop site design and navigation

The desktop version mirrors the mobile app with a clean, professional layout and plenty of customization options. Prediction markets are easy to find from the Markets section, while funding your account, reviewing your portfolio, and contacting customer support only take a few clicks. Even with the platform’s extensive investing tools, I never felt like I had to dig through menus to find what I needed.

Like most regulated prediction market platforms, Moomoo requires location verification before you can access event contracts. I found the setup process straightforward, although you may need to enable browser location permissions or install the required geolocation software if you’re trading from a desktop computer. Once everything was configured, accessing eligible markets was quick and without any hassles.

Trading markets at Moomoo | 4.5/5 stars

Moomoo offers a well-rounded selection of CFTC-regulated event contracts through its partnership with Kalshi. While the selection isn’t as extensive as Kalshi’s standalone exchange, it covers many of the most popular markets and integrates them seamlessly into the broader investing platform.

• Sports markets: Strong selection of contracts covering major sporting events, including high-profile tournaments.
• Election markets: Offers contracts tied to U.S. elections and other political developments.
• Financial markets: One of Moomoo’s strongest categories, with contracts covering inflation, Federal Reserve decisions, and other key economic events.
• Culture markets: Includes contracts based on notable cultural and entertainment events.
• Other real-world events: Additional markets may be available depending on current news and market demand.

What stood out most to me was how naturally event contracts fit into the rest of the platform. Instead of switching between separate apps, I could move from stocks and ETFs to prediction markets in just a few taps, making Moomoo one of the most convenient all-in-one trading platforms I’ve used.

Fees, spreads and liquidity at Moomoo | 4.6/5 stars

How Moomoo settles markets

Moomoo event contracts are settled using the official resolution criteria published for each market before trading begins. Every contract includes detailed rules explaining how the outcome will be determined, making it easy to understand what needs to happen for a Yes or No position to win.

Most markets are settled shortly after the official result or data release is confirmed. Any profits are credited to your account once settlement is complete. If an outcome is unclear or disputed, the market remains open until the designated resolution source can determine the final result in accordance with the published rules.

I found the contract descriptions straightforward and beginner-friendly. Since Moomoo’s event contracts are offered through a CFTC-regulated exchange, there is a formal process for reviewing market resolutions if questions arise.

Deposits and withdrawals at Moomoo | 4.3/5 stars

Moomoo offers reliable payment methods, but it’s a limited selection compared to competitors.

I would have preferred if eWallets like PayPal or Venmo were available at Moomoo, but the options that you have are still convenient.

Does Moomoo send tax forms?

Yes. Moomoo provides the applicable IRS tax documents, such as Form 1099, for eligible U.S. accounts through the app and website when they become available. You can also access your account statements and transaction history to review your trading activity, and export your records for your own recordkeeping. If you have questions about how your event contract or investment activity is taxed, it’s best to consult a qualified tax professional.

Is Moomoo legal in Texas?

Yes. Eligible Texas residents can access Moomoo’s prediction markets, which are offered as CFTC-regulated event contracts rather than traditional sports betting. The product is federally regulated through Moomoo Financial Inc., a registered Futures Commission Merchant (FCM), and operates under the oversight of the CFTC, not the Texas Lottery or Texas gaming regulators.

As of now, Texas has not imposed additional restrictions preventing eligible users from trading CFTC-regulated event contracts through Moomoo, although some contracts may be unavailable depending on federal or platform rules. Users must be at least 18 years old, complete identity verification (KYC), and meet eligibility requirements before trading. Moomoo also uses encryption, multi-factor authentication, and other security measures to help protect customer accounts and personal information.

Moomoo customer support | 4.5/5 stars

Moomoo offers several ways to get help, including 24/7 in-app live chat, email support, phone support on trading days from 8:30 a.m. to 4:30 p.m. ET, and a comprehensive Help Center with answers to common questions. I found it easy to locate the support options directly from the app’s main menu.

If you need assistance with a more complex issue, you can start with the chatbot and request a live agent through the chat interface. This only took a few minutes, which was convenient.

Overall, Moomoo customer support meets industry expectations.

Moomoo Reviews | What others are saying

Moomoo reviews are generally positive, with users praising the robust selection of information to add to the overall experience, including news and analysis. There were a few complaints about delays in pricing updates, but most users enjoyed using the platform.

Conclusion: What I’d know before trading at Moomoo

Overall, I found Moomoo to be an excellent choice for investors who want to trade event contracts alongside stocks, ETFs, and other assets from a single platform. Just remember that you can lose your entire position on a contract, prices may change before settlement, and selling early could result in a loss. So trade responsibly.

Lower-liquidity markets can also be more difficult to exit, while breaking news may cause prices to move quickly. Keep in mind that prediction markets are useful forecasting tools, but they shouldn’t be treated as guaranteed predictors of future events.

Although there isn’t a dedicated Moomoo promo code for prediction markets, the platform’s commission-free introductory pricing and all-in-one investing experience still make it worth considering.