Investing · Broker review
Moomoo Canada review
A trader’s platform with the cheapest options pricing in Canada — and an account lineup (TFSA/RRSP only, no RRIF) that rules it out as anyone’s retirement home.
Best for: Active traders who want pro-grade tools and US$0.65 options — as a satellite account, not a primary broker
Pros
- US options at US$0.65/contract (US$1 min, platform fee waived) — cheapest in the country
- Serious desktop platform with paper trading and free US Level 2 on modest activity
- CAD margin from 3.85% — among the lowest posted rates anywhere
- CIRO dealer, CIPF member; assets custodied at Canaccord Genuity
Cons
- No RRIF, RESP, FHSA or LIRA — an RRSP here must leave before you turn 71
- Canadian trades aren’t free: commission + platform fee = $1.49 minimum per trade
- “0% FX fee” converts at Moomoo’s own corporate rate, which embeds a spread you can’t see
Who Moomoo is
Moomoo Financial Canada is the Canadian arm of the moomoo platform — order-execution-only, CIRO-regulated and CIPF-member, with client assets carried and custodied by Canaccord Genuity since September 2025. The product’s centre of gravity is the platform: charting, screeners, paper trading and free US Level 2 data that legacy brokers charge real money for.
The audience is explicitly traders. If your investing is a monthly ETF purchase, almost nothing here is aimed at you.
The fees, plainly
Marketing says low; the schedule says layered. Canadian trades stack a commission ($0.0049/share, $0.49 min) on a platform fee ($0.01/share, $1.00 min) — $1.49 minimum per trade, which on a $500 ETF buy is a worse deal than any $0 broker. US trades run US$1.99 minimum. The genuine bargain is options: US$0.65/contract with the platform fee waived.
FX is the quiet one: the advertised “0% currency exchange fee” is real, but conversion happens at the “Moomoo Preferred Rate” — a corporate rate that, by Moomoo’s own description, includes a spread. Zero fee, embedded cost. Transfers out cost $75 full / $50 partial, per currency, plus sales tax.
For retirees
The disqualifier is structural: TFSA, RRSP and spousal RRSP only. No RRIF means an RRSP built here must transfer out before age 71 — paying the per-currency exit fees — and no LIRA, LIF, RESP or FHSA means most consolidation scenarios are off the table. Deregistering RRSP funds costs $75 (full) or $50 (partial) plus withholding.
Transfer promotions (up to $2,300, tiered from $10,000) pay rewards into a margin/cash account, not into the registered account itself — fine, just not the same as cash in a TFSA.
Frequently asked questions
What does Moomoo Canada charge to trade?
Stocks and ETFs: Canadian trades $0.0149/share, $1.49 minimum (commission + platform fee); US trades US$1.99 minimum. Options: US$0.65/contract, US$1 minimum — platform fee currently waived. Account fees: $0 account fees; RRSP deregistration $75 full / $50 partial; transfers out $75 full / $50 partial, charged per currency plus sales tax. Figures verified at Moomoo Canada's own pricing pages on June 10, 2026 — compare the whole field on our Best online brokers ranking.
Which registered accounts does Moomoo Canada offer? Can it hold a RRIF?
TFSA, RRSP and spousal RRSP only — no RRIF, RESP, FHSA or LIRA. No RRIF — an RRSP here must eventually transfer elsewhere to become retirement income. See the RRIF minimum calculator for what the drawdown schedule looks like.
Is my money safe at Moomoo Canada?
CIRO dealer, CIPF member; assets custodied at Canaccord Genuity (carrying broker since Sep 2025). CIPF covers up to $1M for general accounts, plus $1M for registered retirement accounts combined, plus $1M for RESPs — against the firm failing, never against investments losing value. For cash deposits (a different regime), see the CDIC coverage planner.
The bottom line
Judge Moomoo as what it is: a high-spec trading terminal with the country’s best options pricing, custodied at a serious carrying broker. As a retirement account it’s a dead end by design — keep the core portfolio at a broker with the full lineup and let Moomoo be the satellite.
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This review is for educational purposes only and is not investment advice. Commissions, FX rates, account fees and offers shown were verified at the broker's own published pricing on June 10, 2026 and change without notice. Our editorial rating reflects costs, account lineup, currency handling and service — it is never paid for. CIPF protects against member-firm insolvency, never market losses. Confirm current terms on the broker's site before opening an account. See our methodology.