I have serious doubt and concerns on MooMoo.

I opened an MooMoo ac couple of weeks ago. And deposited RM 2K into it.
I run through couple of fundamental transactions (as below…) before deposit significant amount money into it, and for my Shares Trading.

1. I Deposited RM 2K into it, it took around 2-3 hours to reflect the balance into my MooMoo Apps which is Fine and Acceptable.

2. I submitted a withdrawal of RM 50 request; and 3 days had been passed by the request still “Pending” which is NOT Acceptable.

3. I only able to view up to 3 Bid or Ask, and this is a JOKE. By default, All the Local Malaysia Banks Trading Website platform I am able to view 5 Bid or Ask (e.g. RHB/Hong Leong & etc.).

And if I wanted to subscribe able to view up to 5 or 10 Bid or Ask (MY Securities LV2 or MY Securities LV3 packages). I am NOT able to Subscribe and it display I do NOT have an A/C therefore I am NOT able to Subscribe….What the hack…

4. Since the Shares I bought is NOT link to my CDS account….and I how do I received my Dividend and which Bank and Bank A/C they will deposit into my Dividend…

5. I had submitted my concerns on Message>>Online Inquiry>>But again it is a waste of time. It did not provide any solution for my questions.

6. I also wanted to DISABLE Margin A/C trading, I only wanted Cash AC trading, I browse through all the Setting, I am NOT able to find where I can Disable it.
This is very critical for Inexperience Trader. U do NOT want accidently end up needed to pay all the Sky-High margin Interest Fee, and U might end up being slaughter by Loan Shark or People throw “Red Paint” on your house….

7. Last but not least, I read a lot of posts it said MooMoo is backed by Tencent, for me more like an UpSale Scam. I browse all MooMoo website I’m NOT able to find any information on it. If any of U got further information on it, please share the Http URL link. Thanks


And Finally, My view is Before We start using them, We wanted to explore and find out What are the Risk involving to trade in MooMoo Platform. After All We are in this for the Long Term, We aim for the Long-Term Security….

Look at what happened to MyAirline, it is endorsed and allowed by M’sia Government to Operate but till today it still NOT yet settled who had pre-booked flight tickets amounting to RM20 millions.

This post has been edited by danielxia: Mar 24 2024, 04:56 PM

Thanks for the correction.

No such Setting, If U know exactly, pls provide the Screen Capture/Image. Thanks.

U working for them and paid by them to defend their company. That is your, after all I manage my risk and assets/money NOT U...What a joke man...

Yap, I knew it have been operated in SG years ago...

I mean on Desktop Platform. Not Mobile.



This post has been edited by danielxia: Mar 24 2024, 05:35 PM