Can My SMSF Use Moomoo?
Yes, an SMSF can use Moomoo to invest globally across the Australian, US and Hong Kong markets in more than 26,000 stocks and Exchange Traded Funds (ETFs). Moomoo is an online brokerage and trading platform, operating under Moomoo Securities Australia Ltd (Moomoo). Moomoo’s parent company, Futu Holdings Limited, is listed on the Nasdaq. The platform offers competitive pricing, advanced trading tools, and an AI-powered smart App. Offline support is also available in Sydney, at Suite 5.01, Level 5, 570 George Street.
How is Moomoo regulated in Australia?
Moomoo holds an Australian Financial Services Licence and therefore is strictly regulated by the Australian Securities and Investments Commission (ASIC). In line with Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws, Moomoo is registered with and regulated by AUSTRAC.
Will my SMSF own shares directly?
Yes, Moomoo trades shares on the Australian stock market (ASX) under CHESS sponsorship. Your SMSF will receive its own unique Holder Identification Number (HIN). The fund’s SMSF auditor can easily verify the fund’s holdings and market value at 30 June.
Are my SMSF funds protected?
SMSF funds are held separately from Moomoo’s money in a designated client money trust account with major banks, including CBA, HSBC Bank Australia and MUFG. Moomoo is subject to stringent regulatory standards and undergoes an annual independent audit. Moomoo uses two-factor authentication to safeguard the fund’s account and assets.
How do I authorise my Class Data Feed for my SMSF?
We use Class specialist superannuation software for our clients. It is easy to organise the data feed. If you’re opening a new Moomoo trading account, you can provide authorisation during the initial onboarding process. However, if you are setting up a new SMSF with us, we will liaise with you when the fund’s Class access is activated so you can then open a Moomoo account and link it to the software.
For SMSFs already using Class and have a Moomoo trading account, the data feed can be activated via the Moomoo website or through the Moomoo app. Historical data, up to two years, can be uploaded if required.
What accounting records does Moomoo provide?
Moomoo provides daily and monthly transaction statements. At the end of June, a ‘Financial Year Summary’ is issued in July, covering the fund’s portfolio at year-end, income received during the year (including franking credits), buys and sells made over the financial year, and all cash transactions. The reports can be downloaded in PDF or EXCEL format. For CHESS-sponsored investments, FinClear will email the fund with a copy of the contract note for buys and sells undertaken. You can view the fund’s account statements at any time by selecting ‘Accounts’ and following the prompts.
Opening and managing an SMSF trading account with Moomoo
Opening a trading account can be a little daunting. However, following the prompts on the Moomoo website makes the process easy to manage. Like most financial institutions, Moomoo is required to undertake proof of identity checks in line with ‘Know Your Customer’ (KYC) requirements.
| Select the link: | Invest with Moomoo |
| Select: | How to open and manage an SMSF trading account with Moomoo |
| KYC Process: | Information and Documents required to start an SMSF trading account |
SMSF Australia does not endorse or recommend any particular broker and supports clients using other providers, including CommSec, Interactive Brokers, Selfwealth, and many others.