Who is it for?
In my personal opinion, the platform is geared more towards traders. I’m not an investment guru but the main reason I say this is because customers will not be issued an individual HIN (a Holder Identification Number that tracks your ownership of shares).
Instead, Moomoo uses a custodial model where they hold the shares on your behalf (but you are still the fully beneficial owner of the assets and will receive dividends, income and the ability to move your shares to other platforms).
The upside with this custodial model is that Moomoo can offer much lower brokerage fees and more investment options vs. other competitors – which is good for people who plan to make a large number of sophisticated transactions (see a comparison chart here). The downside is that in the unlikely event that Moomoo gets wound up, you may not have quick & easy access to your shares.
Find out more about the pros & cons of each model HERE and also check out Moomoo’s client service agreements on their website for full T&Cs. This is a personal preference depending on your investment style so make sure you do your homework!