Bonus tip: If you open your Moomoo account through FinlyWealth, you'll earn an extra $100 on top of the standard welcome bonuses below — no strings attached beyond being a new Moomoo customer, depositing at least $1,000 within 30 days of opening, and submitting your Moomoo account ID through the FinlyWealth offers page.
What Is Moomoo Canada?
Moomoo was founded in Silicon Valley in 2018 and has since grown to over 28 million users across the US, Singapore, Australia, Japan, and Malaysia. It officially launched in Canada in 2024, operating as Moomoo Financial Canada Inc. — regulated by CIRO (Canadian Investment Regulatory Organization) and a member of CIPF, which protects eligible client accounts up to $1 million CAD. For any investor opening a brokerage account in Canada, that regulatory foundation is the bare minimum requirement, and Moomoo checks every box.
Welcome Bonuses: Up to $4,600 for New Users
Moomoo currently offers one of the most aggressive new account promotions on the Canadian market. Here's a breakdown of what's on the table:
1) Deposit cash vouchers
- Deposit $1,000 → receive a $60 cash voucher
- Deposit $5,000 → receive a $300 cash voucher
Vouchers can be used directly toward trades. Check your vouchers in the "My Rewards" section and redeem to cash balance.
2) 30 days of commission-free trading: After opening your account, you'll receive a 30-day commission-free trading pass covering stocks, funds, and options. Any commissions saved — up to $2,000 — get credited directly back to your account balance.
3) 6% interest on idle cash (up to $10,000): Not sure what to invest in yet? Park your money in a Cash account and earn 6% annualized interest on up to $10,000 for 30 days (2% on amounts above $10,000). It's a solid way to put your money to work while you take your time making investment decisions.
4) Transfer-in bonuses: Move existing assets from another brokerage into Moomoo and you can earn additional stock cash vouchers or Apple gift cards, depending on the transfer amount.
Important note for TFSA and RRSP holders: All welcome bonuses are deposited into your Cash or Margin account — not your registered account — to prevent over-contribution issues. It's recommended to open a Cash account at the same time as your TFSA or RRSP so your rewards have somewhere to land.
Fee Structure
Moomoo's pricing is straightforward and competitive, especially for active traders:
The $0 currency conversion fee is one of Moomoo's biggest differentiators. Most Canadian brokerages charge 1.5%–2% to convert between CAD and USD — on a $20,000 US stock purchase, that's $300–$400 in hidden costs that Moomoo simply doesn't charge.
Platform Features Worth Knowing About
Moomoo isn't just a discount broker — it comes with a full suite of professional-grade tools, typically available for free:
- Extended trading hours: US stocks and ETFs tradeable from 4:00 AM to 8:00 PM ET
- 60-level bid/ask depth (Level 2 data): Institutional-grade order book, included at no cost
- 4,000+ Wall Street analyst ratings, updated in real time
- Free Morningstar research reports
- 60+ technical indicators with customizable charting and AI-assisted analysis
- 24/7 customer support including live chat, phone, and email
Moomoo entered the Canadian market at exactly the right moment. More and more Canadian investors are actively looking for alternatives to Questrade and Wealthsimple Trade, and Moomoo delivers where it counts: lower trading fees, $0 FX conversion, and research tools that would cost hundreds of dollars per month on other platforms. For investors with some experience who want to keep costs down without sacrificing market data quality, Moomoo is genuinely worth a serious look.
